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Badger Meter, Inc. (BMI) vs Novanta Inc. (NOVT)

Badger Meter, Inc. and Novanta Inc. are both Scientific & Technical Instruments companies. Novanta Inc. is the larger, with a market value of $5.1B against $3.7B — 1.4× the size. Badger Meter, Inc. trades at the lower P/E: 29.6× against 81.0×. Novanta Inc. grew revenue faster over the last twelve months: 7.61% against 0.80%. Badger Meter, Inc. has the higher net margin (14.3% vs 6.00%) and the higher return on invested capital (17.4% vs 5.12%). Across the 22 metrics below, Badger Meter, Inc. leads on 18 and Novanta Inc. on 4.

Valuation

Metric BMI NOVT Scientific & Technical Instruments median
P/E 29.62 81.00 33.25
P/S 4.19 5.13 4.50
P/B 5.40 3.27 2.90
Price to free cash flow 24.55 48.42 24.81
EV/EBITDA 17.96 31.15 17.92
EV/Sales 4.08 4.65 4.71
Earnings yield 3.38% 1.23% 0.60%
Free cash flow yield 4.07% 2.07% 1.27%

Profitability

Metric BMI NOVT Scientific & Technical Instruments median
Gross margin 41.31% 44.54% 45.75%
Operating margin 18.58% 8.96% 7.34%
Net margin 14.27% 6.00% 1.56%
Free cash flow margin 17.06% 10.59% 5.84%
Return on equity 18.48% 5.11% 2.87%
Return on assets 13.00% 3.38% 0.99%
Return on invested capital 17.42% 5.12% 3.88%

Growth

Metric BMI NOVT Scientific & Technical Instruments median
Revenue growth (TTM) 0.80% 7.61% 11.15%
EPS growth (last fiscal year) 13.24% (16.95%) 11.47%
Revenue growth, 5-year CAGR 16.59% 10.67% 7.89%
Net income growth, 5-year CAGR 23.48% 3.87% 0.00%

Health

Metric BMI NOVT Scientific & Technical Instruments median
Debt to equity 0.00 0.14 0.00
Current ratio 2.42 4.57 2.24
Net debt to EBITDA (1.04) (0.83) 0.44

Dividend

Metric BMI NOVT Scientific & Technical Instruments median
Dividend yield 1.29% — 0.58%
Payout ratio 0.38 — 0.36

Size

Metric BMI NOVT Scientific & Technical Instruments median
Market cap 3.68b 5.10b 444.25m

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