How many subsidiaries does BADGER METER INC file with the SEC?

10, listed in its most recent exhibit 21. They are incorporated across 8 jurisdictions, led by Mexico, Canada, Czech Republic. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is BADGER METER INC financially healthy?

BADGER METER INC scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of BADGER METER INC?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (trimming), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

BADGER METER INC (BMI)

NYSE · Common Stock · Totalizing Fluid Meters & Counting Devices

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

10 entities across 8 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-17 — see the exhibit.

Which other public companies file entities in the same places:

Mexico2 United Kingdom2 Canada1 Czech Republic1 Sweden1 Austria1 France1 Spain1

Subsidiaries of BADGER METER INC as disclosed in its SEC filing
Entity	Jurisdiction	Note
Badger Meter de las Americas, SA de CV	Mexico
Badger Meter Canada, Inc.	Canada
Badger Meter Czech Republic, s.r.o.	Czech Republic
Badger Meter de Mexico, SA de CV	Mexico
Badger Meter UK Limited	United Kingdom
D-Flow Technology, AB	Sweden
Badger Meter Austria	Austria
Badger Meter France	France
Badger Meter Spain	Spain
Syrinix Limited	United Kingdom

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

PASSReturn on assets positiveROA 14.5%
PASSOperating cash flow positiveOCF 184M
FAILReturn on assets improving15.3% → 14.5%
PASSCash flow exceeds earningsOCF 184M vs NI 142M
FAILLong-term debt ratio fallingno debt reported
FAILCurrent ratio improving4.57 → 3.36
FAILNo share dilution29534 → 30M shares
PASSGross margin improving39.8% → 41.7%
FAILAsset turnover improving1.01× → 0.94×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$425.5M	$49.3M	$80.5M	39.5%	29,230
FY2021	$505.2M	$60.9M	$80.8M	40.7%	29,338
FY2022	$565.6M	$66.5M	$76.6M	38.9%	29,376
FY2023	$703.6M	$92.6M	$98.1M	39.3%	29,456
FY2024	$826.6M	$124.9M	$142.2M	39.8%	29,534
FY2025

Ownership flow

11 institutions tracked — 6 added, 4 reduced, 1 opened a new position, 1 sold out.

Institutional holders of BADGER METER INC and their share-count change
Manager	Kind	Shares	Change	Value
BANK OF AMERICA CORP /DE/	Active fund	460,602	+167,750	$68.3M
STATE STREET CORP	Index	1,651,414	+126,444	$245.0M
MORGAN STANLEY	Active fund	739,882	+76,690	$109.8M
GEODE CAPITAL MANAGEMENT, LLC	Index	1,008,392	+69,561	$149.6M

Capital returned

What the company actually paid out and bought back, as reported — the record behind any yield figure.

Dividend per share

2026Q2: $0.40
2026Q1: $0.40
2025Q3: $0.40
2025Q2: $0.34
2025Q1: $0.34
2024Q3: $0.34

Shares repurchased

2026Q1: $38.2M
2025Q1: $0
2020Q1: $2.5M
2019Q1: $1.9M
2018Q1: $1.6M
2017Q1: $2.2M

Identity

CIK: 0000009092
LEI: 5493002JENE20OGTUG20
FIGI: BBG000BDGHD9
SIC: 3824 · Totalizing Fluid Meters & Counting Devices
Incorporated: WI
Headquarters: MILWAUKEE, WI

Ownership

Institutional: 118.7%
Institutions: 655
Insiders: 0.6%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Related companies

Companies filing in the same SEC industry group.

Vontier CorpVNT ALLIENT INCALNT AMETEK INC/AME COGNEX CORPCGNX COHU INCCOHU DANAHER CORP /DE/DHR

Questions about BADGER METER INC

How many subsidiaries does BADGER METER INC file with the SEC?: 10, listed in its most recent exhibit 21. They are incorporated across 8 jurisdictions, led by Mexico, Canada, Czech Republic. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is BADGER METER INC financially healthy?: BADGER METER INC scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of BADGER METER INC?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (trimming), STATE STREET CORP (adding), GEODE CAPITAL MANAGEMENT, LLC (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.