Quick verdict: BMI vs CAMT in 2026

Badger Meter (BMI) generally holds a stronger financial position, particularly in valuation and net profitability metrics, while Camtek (CAMT) demonstrates higher revenue growth and stronger analyst sentiment. BMI shows significantly more implied upside based on discounted cash flow models and analyst price targets. Overall, BMI appears to offer a more compelling value proposition for investors focused on fundamentals and potential price appreciation. Not investment advice.

BMI vs CAMT: key metrics side by side

Full side-by-side comparison of BMI and CAMT across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-08.

BMI vs CAMT valuation comparison

A critical look at the BMI vs CAMT valuation reveals a stark difference in how the market prices these two technology companies. Badger Meter (BMI) currently trades at a P/E ratio of 27.42x, which is considerably lower than Camtek’s (CAMT) P/E of 173.97x. This significant disparity suggests that investors are pricing in much higher growth expectations for CAMT, or that BMI is relatively undervalued compared to its earnings power. Furthermore, BMI’s Price-to-Book (P/B) ratio of 5.19x is also substantially lower than CAMT’s 14.3x, reinforcing BMI’s more attractive valuation from a book value perspective.

Delving deeper into future value, the Discounted Cash Flow (DCF) analysis projects a substantial upside for BMI, indicating a potential increase of +124.5% from its current price of $122.56 to a fair value of $275.14. In contrast, CAMT’s DCF model suggests a significant overvaluation, with a projected downside of -80.5% from its current $193.08 to a fair value of $37.56. This wide divergence in DCF projections strongly positions BMI as the cheaper stock with considerable upside potential in a BMI vs CAMT valuation comparison, making it a potentially more appealing option for value-oriented investors in 2026.

BMI vs CAMT growth comparison

When assessing the BMI vs CAMT growth comparison, Camtek (CAMT) demonstrates stronger revenue momentum, reporting a year-over-year revenue growth of +15.6%. This outpaces Badger Meter’s (BMI) revenue growth of +10.9% over the same period. CAMT’s smaller revenue base of $496,072,000 compared to BMI’s $916,663,000 could partially explain its higher percentage growth, as it has more room to expand at a faster rate. However, BMI’s larger revenue base suggests a more established market presence and potentially more stable revenue streams, albeit with a slightly slower growth trajectory.

Despite CAMT’s higher revenue growth, a closer look at profitability margins provides additional context for these growth rates. CAMT exhibits a superior gross margin of 50.46% and an EBITDA margin of 25.84%, both higher than BMI’s gross margin of 41.37% and EBITDA margin of 22.23%. This indicates that CAMT is more efficient at converting sales into gross profit and operating earnings, even as it pursues higher revenue expansion. However, BMI ultimately boasts a stronger net margin of 14.56% compared to CAMT’s 10.22%, suggesting better overall control of costs or a less aggressive investment strategy that prioritizes bottom-line conversion. For investors prioritizing top-line expansion, CAMT currently shows stronger momentum.

BMI vs CAMT profitability

In the BMI vs CAMT profitability analysis, Badger Meter (BMI) demonstrates superior net profitability, reporting a net margin of 14.56%. This is a notable advantage over Camtek (CAMT), which has a net margin of 10.22%. This indicates that BMI is more efficient at converting its revenue into actual profit for shareholders, after accounting for all expenses, including taxes and interest. While CAMT does show a higher gross margin (50.46% vs 41.37%) and EBITDA margin (25.84% vs 22.23%), BMI’s stronger net margin suggests better cost management or a more streamlined operational structure in its overall financial performance.

Regarding cash generation, BMI clearly outperforms CAMT in Free Cash Flow (FCF) yield. Badger Meter boasts a healthy FCF yield of 4.73%, signifying its ability to generate significant cash after accounting for capital expenditures, which is crucial for reinvestment, debt repayment, or shareholder returns. In stark contrast, Camtek’s FCF yield stands at 0%, indicating that it is not generating free cash flow. This disparity highlights that BMI generates considerably more usable cash from its operations, making it a more financially robust and self-sustaining business. Both companies currently have an N/A% for Return on Equity (ROE), preventing a direct comparison on this specific metric.

Analyst ratings: BMI vs CAMT

Examining the analyst ratings for BMI vs CAMT reveals differing sentiments among market experts. For Badger Meter (BMI), out of 18 analysts covering the stock, only 27.8% currently have a “Buy” rating. The consensus rating for BMI is “Hold,” with an average price target of $172.14. This target suggests a substantial upside potential of +40.5% from its current price of $122.56, indicating that while analysts may be cautious about immediate strong buys, they see significant room for appreciation.

In contrast, Camtek (CAMT) enjoys a much more enthusiastic reception from analysts. Out of 13 analysts, a strong majority of 76.9% recommend a “Buy” for CAMT, leading to an overall “Buy” consensus. However, despite the high buy ratings, the average price target for CAMT is $165.6, which represents a -14.2% downside from its current price of $193.08. This unusual situation, where a high percentage of “Buy” ratings coexist with a negative price target upside, suggests that while analysts like the company’s long-term prospects, its current valuation might be considered elevated relative to its near-term growth potential. Based on consensus and buy percentage, analysts clearly prefer CAMT, but BMI offers superior price target upside.

Should I buy BMI or CAMT stock in 2026?

For investors prioritizing growth, Camtek (CAMT) might appear more attractive in 2026, given its higher revenue growth rate of +15.6% compared to Badger Meter’s (BMI) +10.9%. CAMT’s robust gross and EBITDA margins also suggest operational efficiency that could fuel future expansion. However, its lofty P/E ratio of 173.97x and a negative DCF upside of -80.5% indicate that much of this growth potential may already be priced into the stock, posing a risk for new investors unless CAMT significantly outperforms expectations.

Value investors would likely find Badger Meter (BMI) to be the more compelling choice. BMI trades at a significantly lower P/E of 27.42x and P/B of 5.19x, offering a more reasonable entry point into a profitable company. Furthermore, the strong DCF upside of +124.5% and an analyst target indicating +40.5% potential appreciation suggest that BMI could be undervalued. With a debt-to-equity ratio of 0x, BMI also presents a financially healthier balance sheet compared to CAMT’s 0.84x, adding to its appeal for those seeking stability.

For income-focused investors, neither BMI nor CAMT stands out as a strong dividend play. BMI offers a minimal dividend yield of 0.01%, which is negligible, while CAMT currently pays no dividend (0%). Therefore, investors looking for consistent income streams should consider other options. The decision of whether to buy BMI or CAMT stock in 2026 depends heavily on an individual’s investment strategy, risk tolerance, and valuation preferences. This is not investment advice; always conduct your own thorough research.

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FAQ: BMI vs CAMT