Badger Meter Inc (BMI)

Return on equity (ROE)

Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Net income US$ in thousands 141,634 124,942 92,598 66,496 60,884
Total stockholders’ equity US$ in thousands 713,294 606,232 516,482 442,422 403,070
ROE 19.86% 20.61% 17.93% 15.03% 15.11%

December 31, 2025 calculation

ROE = Net income ÷ Total stockholders’ equity
= $141,634K ÷ $713,294K
= 19.86%