Badger Meter 2025年度报告

Washington, D.C. 20549 FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the fiscal year ended December 31, 2025 OR TRANSITIONREPORT PURSUANT TO SECTION 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period from_____to_____ Commission file number 001-06706 A.Full title of the Plan and the address of the Plan, if different from that of the issuer named below: Badger Meter Employee Savings and Stock Ownership Plan B.Name of issuer of the securities held pursuant to the plan and the address of its principal executiveoffice:Badger Meter, Inc. 4545 W. Brown Deer RoadMilwaukee, WI 53223 REQUIRED INFORMATION The Badger Meter Employee Savings and Stock Ownership Plan (the Plan) is subject to the requirements of the EmployeeRetirement Income Security Act of 1974 (ERISA). Attached hereto is a copy of the most recent financial statements and schedulesof the Plan prepared in accordance with the financial reporting requirements of ERISA. Badger Meter Employee Savings and Stock Ownership Plan Financial Statements and Supplemental SchedulesDecember 31, 2025 and 2024 Table of Contents Report of Independent Registered Public Accounting Firm1Financial StatementsStatement of Net Assets Available for Benefits – as of December 31, 2025 and 20242Statement of Changes in Net Assets Available for Benefits for the Year Ended - December 31, 20253Notes to the Financial Statements4Supplemental Schedules9Schedule H, Item 4(a) - Schedule of Delinquent Participant Contributions9Schedule H, Item 4(i) – Schedule of Assets (Held at End of Year)10 Report of Independent Registered Public Accounting Firm Plan Administrator and Plan ParticipantsBadger Meter Employee Savings and Stock Ownership PlanMilwaukee, Wisconsin Opinion on the Financial StatementsWe have audited the accompanying statements of net assets available for benefits of the Badger Meter Employee Savings and Stock Ownership Plan (the “Plan”) as of December 31, 2025 and 2024, and the related statement of changes in net assets available forbenefits for the year ended December 31, 2025, and the related notes (collectively referred to as the financial statements). In ouropinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as ofDecember 31, 2025 and 2024, and the changes in net assets available for benefits for the year ended December 31, 2025 inconformity with accounting principles generally accepted in the United States of America. Basis for OpinionThese financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company AccountingOversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S.federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with standards of the PCAOB. Those standards require that we plan and perform the auditto obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to error orfraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purposeof expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express nosuch opinion. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due toerror or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis,evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accountingprinciples used and significant estimates made by management, as well as evaluating the overall presentation of the financialstatements. We believe that our audits provide a reasonable basis for our opinion. Supplemental InformationThe supplemental information in the accompanying Schedule H, Item 4(a) – Schedule of Delinquent Participant Contributions for the year ended December 31, 2025 and Schedule H, Item 4(i) – Schedule of Assets (Held at End of Year) as of December 31, 2025,has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. Thesupplemental information is the responsibility of the Plan’s management. Our audit procedures include determining whether thesupplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, andperforming procedures to te