| Company Name: | Badger Meter, Incorporated | | Ticker Symbol: | BMI | | | WWW Address: | www.badgermeter.com | | CEO: | Richard A. Meeusen | | No. of Employees: | 1,224 | | Common Issue Type: | CS | | Business Description: | The Company is a manufacturer and marketer of products incorporating liquid flow measurement and control technologies.
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| | | Industry Information: | ELECTRONICS - Scientific & Technical Instruments [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 36.33 |  -0.91 | 35.29 | 37.35 | 37.43 | 37.51 | 36.91 | 150030 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 556.7 | 14.9 | 1.21 | 1.69 | 0.40 | 15.7 | 1.3 | 44.90 - 22.50 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 37.24 | $ | | PE Ratio - LTM | 15.7 | |
| Market Capitalisation | 556.7 | mil |
| Latest Shares Outstanding | 14.9 | mil |
| Earnings pS (EPS) | 1.69 | $ |
| Dividend pS (DPS) | 0.40 | ¢ |
| Dividend Yield | 1.3 | % |
| Dividend Payout Ratio | 24 | % |
| Revenue per Employee | 228,392 | $ |
| Effective Tax Rate | 36.6 | % |
| Float | 14.1 | mil |
| Float as % of Shares Outstanding | 94.4 | % |
| Foreign Sales | 33 | mil |
| Domestic Sales | 247 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 21.30 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 41.5 | % |
| EBITDA Margin | 20.2 | % |
| Pre-Tax Profit Margin | 17.1 | % |
| Assets Turnover | 1.3 | % |
| Return on Assets (ROA) | 18.1 | % |
| Return on Equity (ROE) | 25.6 | % |
| Return on Capital Invested (ROCI) | 25.6 | % |
| Current Ratio | 2.4 | |
| Leverage Ratio (Assets/Equity) | 1.4 | |
| Interest Cover | 22.8 | |
| Total Debt/Equity (Gearing Ratio) | 0.11 | |
| LT Debt/Total Capital | 0.0 | % |
| Working Capital pS | 3.54 | $ |
| Cash pS | 0.73 | $ |
| Book-Value pS | 9.24 | $ |
| Tangible Book-Value pS | 7.17 | $ |
| Cash Flow pS | 2.89 | $ |
| Free Cash Flow pS | 1.42 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 4.03 | |
| Price/Tangible Book Ratio | 5.19 | |
| Price/Cash Flow | 12.9 | |
| Price/Free Cash Flow | 26.2 | |
| P/E as % of Industry Group | 0.0 | % |
| P/E as % of Sector Segment | 12.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 11/08/2009 |
| Dividend Ex-Date | 11/26/2009 |
| Dividend Record Date | 11/30/2009 |
| Dividend Pay Date | 12/14/2009 |
| Dividend Amount | 120 |
| Type of Payment | Cash Payment |
| Dividend Rate | 0.48 |
| Current Dividend Yield | 1.3 |
| 5-Y Average Dividend Yield | 1.4 |
| Payout Ratio | 24.0 |
| 5-Y Average Payout Ratio | 37.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 1.9 | 101 | 975 | 2,184 |
| 4 Weeks | 39.31 | 36.50 | 37.27 | -0.1 | 94 | 1,140 | 19,374 |
| 13 Weeks | 42.25 | 34.13 | 35.93 | 3.6 | 96 | 1,372 | 83,682 |
| 26 Weeks | 44.90 | 34.13 | 40.62 | -8.3 | 76 | 1,764 | 220,490 |
| 52 Weeks | 44.90 | 22.50 | 31.37 | 18.7 | 96 | 1,937 | 482,313 |
| YTD | 44.90 | 22.50 | - | 28.3 | 105 | 1,880 | 426,666 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 37.34 | 37.69 | 38.53 | 38.66 | 36.29 | 1.21 | 1.06 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | 5.80 | 85.6 | 5.25 |
| Income | 23.98 | 61.1 | 55.84 |
| Dividend | 9.80 | 94.2 | 12.29 |
| Capital Spending | 40.46 | NA | 60.46 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 19.53 | NA | 22.56 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -8.5 | -11.6 | 19.1 |
| Earnings % | 54.0 | 146.3 | 52.4 |
| EPS % | 53.5 | 146.2 | 49.6 |
| EPS $ | 0.68 | 0.57 | 0.56 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | 18.29 |
| Current Ratio | 1.7 |
| Quick Ratio (Acid Test) | 0.8 |
| Liquidity Ratio (Cash) | 0.12 |
| Receivables Turnover | 8.4 |
| Average Collection Period | 43 |
| Working Capital/Equity | 32.2 |
| Working Capital pS | 2.41 |
| Cash-Flow pS | 2.17 |
| Free Cash-Flow pS | -1.19 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 6.49 |
| Financial Leverage Ratio (Assets/Equity) | 1.8 |
| Debt Ratio | 43.2 |
| Total Debt/Equity (Gearing Ratio) | 0.23 |
| LT Debt/Equity | 0.05 |
| LT Debt/Capital Invested | 28.8 |
| LT Debt/Total Liabilities | 6.5 |
| Interest Cover | 30.4 |
| Interest/Capital Invested | 0.93 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 31.79 |
| Tobin's Q Ratio | 2.85 |
| Current P/E Ratio - LTM | 15.70 |
| Enterprise Value (EV)/EBITDA | 13.24 |
| Enterprise Value (EV)/Free Cash Flow | -46.93 |
| Dividend Yield | 1.3 |
| Price/Tangible Book Ratio - LTM | 5.19 |
| Price/Book Ratio - LTM | 4.03 |
| Price/Cash Flow Ratio | 12.9 |
| Price/Free Cash Flow Ratio - LTM | 26.2 |
| Price/Sales Ratio | 2.13 |
| P/E Ratio (1 month ago) - LTM | 16.2 |
| P/E Ratio (26 weeks ago) - LTM | 23.1 |
| P/E Ratio (52 weeks ago) - LTM | 21.5 |
| 5-Y High P/E Ratio | 63.8 |
| 5-Y Low P/E Ratio | 10.4 |
| 5-Y Average P/E Ratio | 30.4 |
| Current P/E Ratio as % of 5-Y Average P/E | 52 |
| P/E as % of Industry Group | 0.0 |
| P/E as % of Sector Segment | 12.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 19.8 |
| PER SHARE FIGURES |
| LT Debt pS | 0.37 |
| Current Liabilities pS | 3.43 |
| Tangible Book Value pS - LTM | 7.17 |
| Book Value pS - LTM | 9.24 |
| Capital Invested pS | 7.79 |
| Cash pS - LTM | 0.73 |
| Cash Flow pS - LTM | 2.89 |
| Free Cash Flow pS - LTM | 1.42 |
| Earnings pS (EPS) | 1.69 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | -6.33 |
| Free Cash Flow Margin 5YEAR AVG | -0.38 |
| Net Profit Margin | 9.0 |
| Net Profit Margin - 5YEAR AVRG. | 6.2 |
| Equity Productivity | 2.52 |
| Return on Equity (ROE) | 22.6 |
| Return on Equity (ROE) - 5YEAR AVRG. | 17.5 |
| Capital Invested Productivity | 2.40 |
| Return on Capital Invested (ROCI) | 21.5 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 15.7 |
| Assets Productivity | 1.60 |
| Return on Assets (ROA) | 12.8 |
| Return on Assets (ROA) - 5YEAR AVRG. | 9.3 |
| Gross Profit Margin | 41.5 |
| Gross Profit Margin - 5YEAR AVRG. | 37.1 |
| EBITDA Margin - LTM | 20.2 |
| EBIT Margin - LTM | 17.9 |
| Pre-Tax Profit Margin | 14.1 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 11.8 |
| Effective Tax Rate | 36.6 |
| Effective Tax Rate - 5YEAR AVRG. | 40.4 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 122 |
| Revenue per Employee | 228,392 |
| Net Income per Employee | 20,493 |
| Average Collection Period | 46 |
| Receivables Turnover | 8.4 |
| Day's Inventory Turnover Ratio | 76 |
| Inventory Turnover | 4.7 |
| Inventory/Sales | 14.1 |
| Accounts Payble/Sales | 4.73 |
| Assets/Revenue | 0.63 |
| Net Working Capital Turnover | 7.82 |
| Fixed Assets Turnover | 2.57 |
| Total Assets Turnover | 1.6 |
| Revenue per $ Cash | 44.97 |
| Revenue per $ Plant | 4.52 |
| Revenue per $ Common Equity | 2.52 |
| Revenue per $ Capital Invested | 2.40 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 20.6 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 21.7 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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