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Badger MeterBMI +1.92%78 Return-on-Tangible-Asset is 17.67% as of Mar. 2026, which is 6% above its 10-year median of 16.72. GuruFocus rates BMI with a GF Score™ of 78/100 and a GF Value™ of $216.80 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 2,503 Hardware companies, Badger Meter ranks better than 97.6% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Badger Meter's annualizedNet Income for the quarter that ended in Mar. 2026 was $109.3 Mil. Badger Meter's average total tangible assets for the quarter that ended in Mar. 2026 was $618.8 Mil. Therefore, Badger Meter's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 17.67%.
The historical rank and industry rank for Badger Meter's Return-on-Tangible-Asset or its related term are showing as below:
BMI'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 10.69 Med: 16.72 Max: 22.28
Current: 21.99
During the past 13 years, Badger Meter's highest Return-on-Tangible-Asset was 22.28%. The lowest was 10.69%. And the median was 16.72%.
BMI's Return-on-Tangible-Asset is ranked better than 97.6% of 2503
companies
in the Hardware industry
Industry Median: 2.44
vs BMI: 21.99
Badger Meter (NYSE:BMI) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Badger Meter Return-on-Tangible-Asset Related Terms
Badger Meter Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Badger Meter's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BMI vs VNT, ITRI, NOVT: Return-on-Tangible-Asset Comparison
For the Scientific & Technical Instruments subindustry, Badger Meter's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Badger Meter Return-on-Tangible-Asset vs Hardware Industry
For the Hardware industry and Technology sector, Badger Meter's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Badger Meter's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 17.67% mean?
Badger Meter (BMI) has a Return-on-Tangible-Asset of 17.67% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Badger Meter and its competitors. This is near median its historical median of 16.72. Over the past decade, Badger Meter's Return-on-Tangible-Asset has ranged from 10.69 to 22.28. According to the industry distribution chart, Badger Meter ranks #60 out of 2503 companies in the Hardware industry, placing it in the top 2.4%.
Is Badger Meter's Return-on-Tangible-Asset too high?
Badger Meter's current Return-on-Tangible-Asset of 17.67% is near median its 10-year median of 16.72. Over the past 10 years, this metric has ranged from a low of 10.69 to a high of 22.28. The Hardware industry median Return-on-Tangible-Asset is 2.44. Badger Meter's value of 17.67% is 624.2% above this industry median. Based on the distribution chart, Badger Meter ranks #60 out of 2503 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Badger Meter has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Badger Meter's Return-on-Tangible-Asset compare to VNT and ITRI?
According to the Hardware industry distribution chart, Badger Meter ranks #60 out of 2503 companies for Return-on-Tangible-Asset. This places Badger Meter in the top 2% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.44. Badger Meter's value of 17.67% is 624.2% above this benchmark. Historically, Badger Meter's own Return-on-Tangible-Asset has ranged from 10.69 to 22.28 over the past decade. While the company's 10-year median is 16.72 vs. the industry median of 2.44, Badger Meter has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Hardware company?
The median Return-on-Tangible-Asset among Hardware companies is 2.44, based on 2,503 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Badger Meter's current Return-on-Tangible-Asset of 17.67% is 624.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Badger Meter and its competitors. For the Hardware industry, the median Return-on-Tangible-Asset is 2.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Badger Meter's current Return-on-Tangible-Asset is 17.67%, which is near median its own 10-year median of 16.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Badger Meter stock overvalued right now?
Based on GuruFocus' analysis, Badger Meter (BMI) is currently considered Significantly Undervalued. The stock's GF Value™ is $216.80, compared to a current price of $144.18 — trading 33.5% below its estimated fair value. The current Return-on-Tangible-Asset is 17.67%, which is near median its 10-year median of 16.72 and 624.2% above the Hardware industry median of 2.44. Badger Meter's overall GF Score™ is 78/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Badger Meter (BMI), the current Return-on-Tangible-Asset is 17.67% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Badger Meter (BMI) Overvalued in 2026?
Based on GuruFocus' analysis, Badger Meter stock appears to be undervalued.
The current stock price of $144.18 is trading 33.5% below its estimated GF Value™ of $216.80.
GuruFocus considers Badger Meter to be Significantly Undervalued.
Key valuation signals for BMI:
Return-on-Tangible-Asset: 17.67% (near median its 10-year median of 16.72)
GF Value™: $216.80 vs. price of $144.18 (33.5% below fair value)
Industry Position: 624.2% above the Hardware median (#60 of 2503)
No single metric tells the full story. See the BMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Badger Meter is a provider of water management solutions. The company's solutions encompass measurement and control hardware, connectivity and communication, data visualization and software. Badger Meter has global operations, with the vast majority of revenue derived from the US.
78GF Score
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