• Badger Meter average price to free cash flow ratio for 2023 was 46.69, a 16.35% increase from 2022.
• Badger Meter average price to free cash flow ratio for 2022 was 40.13, a 5.25% increase from 2021.
• Badger Meter average price to free cash flow ratio for 2021 was 38.13, a 63.51% increase from 2020.

Price to free cash flow ratio can be defined as