Badger Meter, Inc. (BMI) vs Itron, Inc. (ITRI)

Badger Meter, Inc. and Itron, Inc. are both Scientific & Technical Instruments companies. Badger Meter, Inc. and Itron, Inc. are of similar size ($4.0B and $3.8B). Itron, Inc. trades at the lower P/E: 14.8× against 30.2×. Badger Meter, Inc. grew revenue faster over the last twelve months: 0.80% against −5.69%. Badger Meter, Inc. has the higher net margin (14.3% vs 11.9%) and the higher return on invested capital (17.4% vs 7.70%). Across the 22 metrics below, Badger Meter, Inc. leads on 12 and Itron, Inc. on 10.

Valuation

Metric BMI ITRI Scientific & Technical Instruments median
P/E 30.18 14.76 35.93
P/S 4.27 1.72 4.46
P/B 5.51 2.42 3.00
Price to free cash flow 25.02 10.29 24.96
EV/EBITDA 18.31 14.05 19.60
EV/Sales 4.16 2.28 4.98
Earnings yield 3.31% 6.77% 0.53%
Free cash flow yield 4.00% 9.72% 1.12%

Profitability

Metric BMI ITRI Scientific & Technical Instruments median
Gross margin 41.31% 39.87% 45.75%
Operating margin 18.58% 13.20% 7.34%
Net margin 14.27% 11.90% 1.56%
Free cash flow margin 17.06% 16.73% 5.84%
Return on equity 18.48% 16.74% 2.87%
Return on assets 13.00% 7.19% 0.99%
Return on invested capital 17.42% 7.70% 3.88%

Growth

Metric BMI ITRI Scientific & Technical Instruments median
Revenue growth (TTM) 0.80% (5.69%) 11.28%
EPS growth (last fiscal year) 13.24% 25.48% —
Revenue growth, 5-year CAGR 16.59% 1.72% 7.89%
Net income growth, 5-year CAGR 23.48% 0.00% 0.00%

Health

Metric BMI ITRI Scientific & Technical Instruments median
Debt to equity 0.00 0.96 0.00
Current ratio 2.42 2.75 2.24
Net debt to EBITDA (1.04) 0.62 0.44

Dividend

Metric BMI ITRI Scientific & Technical Instruments median
Dividend yield 0.72% — 0.72%
Payout ratio 0.34 0.00 0.00

Size

Metric BMI ITRI Scientific & Technical Instruments median
Market cap 3.79b 4.01b 483.67m

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