What is Badger Meter Inc worth?
With the base-case assumptions below, a discounted cash flow model on Badger Meter Inc's reported free cash flow gives $192.82 per share. The share price was $129.48 on September 25, 2026, 33% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $118.43 | -9% |
| Base | 15.0% | 9.0% | $192.82 | +49% |
| Bull | 20.0% | 8.0% | $331.35 | +156% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $249.15 | $266.71 | $288.17 | $315.01 | $349.50 |
| 8.0% | $206.84 | $218.22 | $231.68 | $247.84 | $267.58 |
| 9.0% | $176.05 | $183.84 | $192.82 | $203.31 | $215.69 |
| 10.0% | $152.71 | $158.25 | $164.52 | $171.69 | $179.97 |
| 11.0% | $134.44 | $138.50 | $143.04 | $148.14 | $153.93 |
Where the presets come from
Base: years 1 to 5 grow at Badger Meter Inc's revenue growth rate over the last 5 fiscal years (16.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions