BMI vs. III.L

Last updated Jun 13, 2026

BMI (Badger Meter, Inc.) and III.L (3I Group plc) are both stocks. BMI operates in Electrical Equipment & Parts (Industrials), while III.L operates in Investment Banking & Investment Services (Financial Services). Over the past 10 years, BMI returned 14.99%/yr vs 19.21%/yr for III.L. At a 0.25 correlation, their price movements are largely independent.

Performance

BMI vs. III.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Badger Meter, Inc. (BMI) and 3I Group plc (III.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BMI is traded in USD, while III.L is traded in GBp. To make them comparable, the III.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BMI achieves a -24.02% return, which is significantly higher than III.L's -29.56% return. Over the past 10 years, BMI has underperformed III.L with an annualized return of 14.99%, while III.L has yielded a comparatively higher 19.21% annualized return.

BMI

• 1D: 0.93%
• 1M: 13.87%
• YTD: -24.02%
• 6M: -28.30%
• 1Y: -45.59%
• 3Y*: -3.92%
• 5Y*: 7.71%
• 10Y*: 14.99%

III.L

• 1D: 3.61%
• 1M: -5.53%
• YTD: -29.56%
• 6M: -26.02%
• 1Y: -44.56%
• 3Y*: 9.18%
• 5Y*: 15.13%
• 10Y*: 19.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BMI vs. III.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BMI Badger Meter, Inc.	-24.02%	-17.15%	38.28%	42.58%	3.23%	14.11%	46.37%	33.46%	4.09%	30.91%
III.L 3I Group plc	-29.56%	0.62%	47.61%	95.24%	-13.78%	27.82%	12.71%	53.02%	-16.76%	46.43%

Correlation

The correlation between BMI and III.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007	0.25

Fundamentals

Market Cap BMI : $3.87B III.L : £23.50B
EPS BMI : $4.42 III.L : £10.41
PE Ratio BMI : 29.78 III.L : 2.22
PEG Ratio BMI : 1.25 III.L : 0.27
PS Ratio BMI : 4.34 III.L : 10.82
PB Ratio BMI : 3.98 III.L : 0.76
Total Revenue (TTM) BMI : $896.73M III.L : £2.12B
Gross Profit (TTM) BMI : $370.96M III.L : £5.57B
EBITDA (TTM) BMI : $199.34M III.L : £9.82B

Return for Risk

BMI vs. III.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BMI

BMI Risk / Return Rank: 7
BMI Sharpe Ratio Rank: 5
BMI Sortino Ratio Rank: 8
BMI Omega Ratio Rank: 5
BMI Calmar Ratio Rank: 9
BMI Martin Ratio Rank: 10

III.L

III.L Risk / Return Rank: 7
III.L Sharpe Ratio Rank: 5
III.L Sortino Ratio Rank: 8
III.L Omega Ratio Rank: 6
III.L Calmar Ratio Rank: 11
III.L Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BMI vs. III.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Badger Meter, Inc. (BMI) and 3I Group plc (III.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BMI	III.L	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	-1.01	-0.02
Sortino ratio: Return per unit of downside risk	-1.32	-1.35	+0.03
Omega ratio: Gain probability vs. loss probability	0.79	0.80	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.85	-0.85	0.00
Martin ratio: Return relative to average drawdown	-1.38	-1.67	+0.29

BMI vs. III.L - Sharpe Ratio Comparison

The current BMI Sharpe Ratio is -1.04, which is comparable to the III.L Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of BMI and III.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BMI vs. III.L - Drawdown Comparison

The maximum BMI drawdown since its inception was -68.22%, smaller than the maximum III.L drawdown of -88.62%. Use the drawdown chart below to compare losses from any high point for BMI and III.L.

Drawdown Indicators

	BMI	III.L	Difference
Max Drawdown Largest peak-to-trough decline	-68.22%	-88.62%	+20.40%
Max Drawdown (1Y) Largest decline over 1 year	-53.79%	-52.57%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-55.06%	-52.57%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	-55.06%	-52.57%	-2.49%
Max Drawdown (10Y) Largest decline over 10 years	-55.06%	-54.36%	-0.70%
Current Drawdown Current decline from peak	-47.63%	-47.55%	-0.08%
Average Drawdown Average peak-to-trough decline	-19.02%	-27.21%	+8.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.04%	26.69%	+6.35%

Volatility

BMI vs. III.L - Volatility Comparison

The current volatility for Badger Meter, Inc. (BMI) is 9.52%, while 3I Group plc (III.L) has a volatility of 19.15%. This indicates that BMI experiences smaller price fluctuations and is considered to be less risky than III.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BMI	III.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.52%	19.15%	-9.63%
Volatility (6M) Calculated over the trailing 6-month period	38.68%	37.86%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	44.17%	43.99%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	33.13%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.67%	33.07%	+0.60%

Dividends

BMI vs. III.L - Dividend Comparison

BMI's dividend yield for the trailing twelve months is around 1.21%, less than III.L's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BMI Badger Meter, Inc.	1.21%	0.85%	0.58%	0.64%	0.78%	0.71%	0.74%	0.99%	1.14%	1.03%	1.16%	1.33%
III.L 3I Group plc	3.42%	2.42%	1.82%	2.32%	3.76%	2.78%	3.02%	3.42%	4.78%	2.90%	3.41%	2.37%

Financials

Frequently Asked Questions

Can I hold both BMI and III.L in my portfolio?

BMI and III.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.