• Badger Meter average price to free cash flow ratio for 2023 was 46.62, a 16.35% increase from 2022.
• Badger Meter average price to free cash flow ratio for 2022 was 40.07, a 5.25% increase from 2021.
• Badger Meter average price to free cash flow ratio for 2021 was 38.07, a 63.53% increase from 2020.

Price to free cash flow ratio can be defined as