EXHIBIT (21.0)

BADGER METER, INC.

SUBSIDIARIES OF THE REGISTRANT

The Company's subsidiaries are listed below. All of the subsidiaries of the
Company listed below are included in the Company's consolidated financial
statements.

<Table>
<Caption>
PERCENTAGE STATE OR COUNTRY IN
NAME OF OWNERSHIP WHICH ORGANIZED
- ---- ------------ ---------------------

Badger Meter de Las Americas, S.A. de C.V. ................. 100% Mexico
Badger Meter Canada, Inc. .................................. 100% Canada
Badger Meter Czech Republic................................. 100% Czech Republic
(a subsidiary of Badger Meter International, Inc.)
Badger Meter Europe, GmbH................................... 100% Federal Republic of
Germany
Badger Meter Export, Inc. .................................. 100% Virgin Islands (U.S.)
(a large FSC)
Badger Meter France SAS..................................... 100% France
(a French holding company)
(Badger Meter France SAS is a subsidiary of Badger Meter
International, Inc.)
Badger Meter International, Inc. ........................... 100% Wisconsin (U.S.)
(an international holding company)
Badger Meter Limited (1).................................... 100% United Kingdom
Badger Meter de Mexico, S.A. de C.V. ....................... 100% Mexico
Badger Meter Slovakia (2)................................... 100% Slovakia
(a subsidiary of Badger Meter Europe)
MecaPlus Equipements SA..................................... 100% France
(a subsidiary of Badger Meter France)
</Table>

- ---------------

(1) Badger Meter Limited is in the process of being dissolved and the
dissolution is expected to be complete within the first quarter of 2004.

(2) Badger Meter Slovakia was formed in the first quarter of 2004 and is a
subsidiary of Badger Meter Europe.