On this episode of Stock Spotlight, Michael shines the spotlight on Badger Meter ($BMI), the hidden powerhouse behind smart water management. Think of BMI’s meters as the cash registers of utilities: essential, sticky, and increasingly digital. With secular tailwinds in conservation, regulation, and infrastructure investment, the company sits at the intersection of necessity and innovation.

Michael breaks down why Badger Meter scored a strong 81% on his Quality Checklist, how SaaS revenue and international expansion could fuel the next leg of growth, and where valuation leaves room — or risk. With a fair value range of ~$129–$216 and technical support in the $160s, BMI offers a compelling picks-and-shovels play on one of the world’s most vital resources. Hear why Michael has initiated a position and what would make him trim or sell.

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00:00 Intro

00:37 Investment Checklist & Database

01:17 Business Overview

11:51 Industry Overview

16:37 Quality Growth Profile

20:25 Financial Statement Overview

27:02 Management & Ownership Structure

32:16 KPIs to Track

33:12 Valuation & Technical Analysis

38:27 Verdict

40:35 Outro

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Intro Music: Andrey Rossi – Seize the Day

Outro Music: Ra – Prospect

*Music provided by Uppbeat Premium

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Disclosure: The host of Stock Spotlight is not a licensed financial advisor. The information and opinions shared during the show are for entertainment purposes only.

Badger Meter, Inc. (BMI): The Cash Register of Water Utilities

Stock Spotlight

Badger Meter, Inc. (BMI): The Cash Register of Water Utilities