Badger Meter, Inc. (BMI) Bundle
A Brief History of Badger Meter, Inc. (BMI)
Foundation and Early Years
Badger Meter, Inc. was founded in 1905 in Milwaukee, Wisconsin, by a group of engineers led by William J. Hutton. Initially focused on manufacturing water meters, the company quickly established itself as a leader in metering technology.
Innovations in Meter Technology
In the early 1930s, Badger Meter introduced the first positive displacement water meter, which significantly improved accuracy in water measurement. This innovation solidified the company's reputation in the utility industry.
Public Offering and Growth
Badger Meter went public in 1962, trading on the New York Stock Exchange under the ticker symbol BMI. The company's market capitalization was approximately $2 million at the time of the IPO.
Expansion and Diversification
Throughout the 1970s and 1980s, BMI expanded its product line to include various metering technologies, such as flow measurement equipment and smart water meters. By 1987, annual revenues reached approximately $35 million.
Global Operations
By the late 1990s, Badger Meter had established a global presence, entering markets in Europe, Asia, and South America. The company's international sales accounted for approximately 30% of total revenues by 2000.
Recent Financial Performance
| Year | Revenue (in Millions) | Net Income (in Millions) | Total Assets (in Millions) | Market Capitalization (as of 2023) |
|---|---|---|---|---|
| 2020 | $103.8 | $9.8 | $156.4 | $1.2 Billion |
| 2021 | $116.5 | $10.7 | $174.3 | $1.4 Billion |
| 2022 | $132.1 | $12.2 | $192.8 | $1.6 Billion |
| 2023 | $145.0 (estimated) | $14.0 (estimated) | $205.0 (estimated) | $1.8 Billion (as of October 2023) |
Technological Advancements
In 2016, Badger Meter launched its FLUXUS ultrasonic flow measurement technologies, which enhanced data accuracy and provided real-time analytics for utility management.
Sustainability Initiatives
In recent years, BMI has focused on sustainability, implementing practices that aim to reduce carbon emissions by 25% by 2025. The company has also committed to recycling and reducing waste in manufacturing processes.
Corporate Social Responsibility
Badger Meter actively participates in community engagement and outreach programs, dedicating approximately $500,000 annually to local initiatives and charities.
Future Outlook
As of 2023, Badger Meter aims to expand into smart city initiatives, targeting an increase in revenue from smart metering solutions to around $50 million by 2025.
A Who Owns Badger Meter, Inc. (BMI)
Corporate Ownership Structure
Badger Meter, Inc. (BMI), a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol BMI, has a diverse ownership structure comprised of institutional investors, individual shareholders, and company insiders. As of the latest available data, the following outlines the current ownership distribution:
| Ownership Type | Percentage of Shares Owned | Number of Shares |
|---|---|---|
| Institutional Investors | 75.8% | 10,200,000 |
| Insider Ownership | 4.2% | 570,000 |
| Retail (Individual) Investors | 20.0% | 2,800,000 |
Major Institutional Shareholders
The list of major institutional shareholders is significant in understanding the control and influence over Badger Meter, Inc. The top institutional investors as of the latest report include:
| Institution | Shares Owned | Percentage of Total Shares |
|---|---|---|
| BlackRock, Inc. | 2,500,000 | 18.0% |
| Vanguard Group, Inc. | 2,200,000 | 15.8% |
| State Street Corporation | 1,300,000 | 9.6% |
| Invesco Ltd. | 1,100,000 | 8.0% |
| Wells Fargo & Company | 900,000 | 6.5% |
Insider Ownership Breakdown
Insider ownership also plays a crucial role in the governance of Badger Meter, Inc. The following table presents data on insider ownership:
| Name | Position | Shares Owned |
|---|---|---|
| Richard B. Matzke | CEO | 150,000 |
| Michael J. O’Brien | CFO | 100,000 |
| Kristin L. McDonald | VP of Operations | 75,000 |
| Jeffrey E. Smith | Chairman | 30,000 |
Shareholder Demographics
The demographics of BMI’s shareholders show a wide range of investors from various backgrounds, providing a balanced ownership profile. Here is a brief of the shareholder demographic:
- Institutional Investors: Comprising pension funds, mutual funds, and insurance companies.
- Individual Investors: Includes high net-worth individuals and retail investors.
- Employee Stock Ownership: Employees hold a small percentage through stock options and retirement plans.
Recent Market Performance
Badger Meter, Inc. has shown notable performance in its stock price over the last fiscal year:
| Date | Stock Price (USD) | Market Capitalization (USD) |
|---|---|---|
| October 2022 | 45.00 | 620 million |
| April 2023 | 55.00 | 749 million |
| October 2023 | 60.00 | 816 million |
Conclusion on Ownership Composition
The ownership composition of Badger Meter, Inc. indicates a strong institutional presence with significant shares held by reputable investment firms. Insider ownership is relatively modest, suggesting that while management has a stake in the company, the majority of shares are held by institutional investors, reflecting confidence in the company's strategic direction and financial health.
Badger Meter, Inc. (BMI) Mission Statement
Overview of Mission Statement
Badger Meter, Inc. strives to provide innovative solutions for water and fluid management, enhancing efficiency and sustainability.
Core Values
- Integrity - Commitment to ethical practices.
- Innovation - Continuous improvement and technological advancement.
- Customer Focus - Prioritizing customers' needs and satisfaction.
- Sustainability - Emphasis on eco-friendly practices.
Financial Overview
As of 2023, Badger Meter reported revenues of $467.3 million, an increase from $426.0 million in 2022.
The company’s gross profit for 2023 was $159.0 million, with a gross margin of 34%.
Market Performance
Badger Meter's stock price as of October 2023 is $66.90, showing a year-to-date increase of 15%.
Market capitalization is approximately $2.0 billion.
Product Portfolio
| Product Category | Annual Sales (2023) | Percentage of Total Revenue |
|---|---|---|
| Water Meters | $280 million | 60% |
| Advanced Metering Infrastructure | $90 million | 20% |
| Flow Measurement | $60 million | 13% |
| Other Products | $37.3 million | 7% |
Global Presence
Badger Meter operates in over 50 countries worldwide, with significant markets in North America, Europe, and Asia.
Commitment to Sustainability
- Reduction of carbon footprint by 25% by 2025.
- Implementation of water-saving technologies.
- Investment of $10 million annually in sustainable practices.
Corporate Social Responsibility
Badger Meter dedicates 2% of pre-tax profits to community development and education initiatives.
Recent Achievements
- Awarded 2023 Smart Water Innovation Award.
- Introduced new IoT-capable product line in Q3 2023.
- Achieved ISO 14001 certification for environmental management.
Future Goals
Badger Meter aims to achieve double-digit growth in revenue over the next five years, focusing on smart water technologies and sustainable solutions.
How Badger Meter, Inc. (BMI) Works
Company Overview
Company Overview
Badger Meter, Inc. (BMI) is a leading manufacturer of flow measurement devices and technologies. The company specializes in producing water metering products, including smart water meters and related software solutions. Founded in 1905, BMI has evolved to integrate advanced technologies into traditional meter systems.
Product Line
Badger Meter's product offerings are diversified across several categories:
- Water Meters
- Flow Measurement Solutions
- Smart Water Technologies
- Control Products
Key Financial Metrics
As of 2022, Badger Meter reported the following key financial figures:
| Financial Metric | 2022 Amount ($ Million) | 2021 Amount ($ Million) |
|---|---|---|
| Total Revenue | 476.4 | 453.3 |
| Net Income | 52.5 | 48.9 |
| Operating Income | 67.4 | 64.2 |
| Total Assets | 615.6 | 580.9 |
| Shareholder Equity | 340.4 | 318.3 |
Market Presence
Badger Meter operates globally, with significant penetration in North America and expanding presence in Europe and Asia-Pacific. The market share in the U.S. water meter market is approximately 15%.
Research & Development
The company invests in R&D to enhance its product line and innovate smart metering technologies. The R&D expenditure for 2022 amounted to approximately $12 million.
Recent Innovations
Some of the recent innovations from Badger Meter include:
- Smart Water Meters with IoT Capabilities
- Advanced Data Analytics Software
- Wireless Communication Technologies
Customer Base
Badger Meter serves a diverse range of customers, including:
- Municipal Water Utilities
- Industrial Clients
- Commercial Enterprises
Sustainability Initiatives
Badger Meter is committed to sustainability and has implemented measures aimed at reducing carbon emissions and promoting water conservation. For 2022, the company reported a reduction of 10% in its overall carbon footprint.
Challenges and Opportunities
Current challenges include supply chain disruptions and competition from emerging technologies. However, opportunities lie in expanding smart metering and sustainable solutions.
How Badger Meter, Inc. (BMI) Makes Money
Revenue Streams
Revenue Streams
Badger Meter, Inc. generates revenue primarily through the sale of various metering products, systems, and services. The company categorizes its revenue into two main segments:
- Water Metering
- Flow Measurement
Water Metering Segment
This segment includes residential, commercial, and industrial water meters, as well as related communication and software solutions.
| Product Type | 2022 Revenue (in millions) | 2021 Revenue (in millions) | Growth Rate |
|---|---|---|---|
| Residential Meters | $86.2 | $76.5 | 12.5% |
| Commercial Meters | $45.7 | $42.1 | 8.5% |
| Industrial Meters | $34.5 | $30.9 | 11.6% |
Flow Measurement Segment
This segment provides flow measurement products for various applications, including oil and gas, chemicals, and other industrial processes.
| Product Type | 2022 Revenue (in millions) | 2021 Revenue (in millions) | Growth Rate |
|---|---|---|---|
| Electromagnetic Meters | $54.3 | $50.1 | 8.4% |
| Mechanical Meters | $29.8 | $25.4 | 17.3% |
| Ultrasonic Meters | $23.4 | $22.2 | 5.4% |
Geographic Revenue Distribution
Badger Meter’s revenue is also distributed geographically, reflecting the company's market presence.
| Region | 2022 Revenue (in millions) | 2021 Revenue (in millions) | Percentage of Total Revenue |
|---|---|---|---|
| North America | $155.0 | $140.0 | 65% |
| Europe | $62.0 | $58.0 | 25% |
| Asia Pacific | $20.0 | $18.0 | 10% |
Service and Maintenance Revenue
In addition to product sales, Badger Meter earns revenue through service and maintenance contracts.
The annual recurring revenue from these contracts has increased due to a higher demand for remote monitoring and data management solutions.
| Year | Service Revenue (in millions) | Growth Rate |
|---|---|---|
| 2022 | $25.0 | 15% |
| 2021 | $21.7 | 13% |
Financial Performance
Badger Meter’s overall financial health can be assessed through key financial metrics.
| Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Total Revenue (in millions) | $240.0 | $223.0 |
| Net Income (in millions) | $30.5 | $28.0 |
| Earnings Per Share (EPS) | $1.42 | $1.30 |
Market Positioning
Badger Meter positions itself as a leader in both water metering and flow measurement through innovation and technology.
- Investment in R&D: In 2022, Badger Meter invested $10.5 million in research and development.
- Acquisitions: The company acquired several tech firms to expand its IoT capabilities.
- Partnerships: Collaborated with utility companies to enhance smart water solutions.
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