Belden Inc. (BDC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.02	$2.34	+15.8%	—	—	—
Q4 26	$1.7	$1.77	+4.1%	—	—	—
Q3 26	$1.61	$1.87	+16.1%	—	—	—
Q2 26	$1.92	$1.97	+2.6%	—	—	—
Q1 26	$1.76	$1.89	+7.4%	—	—	—
Q4 25	$1.49	$1.6	+7.4%	—	—	—
Q3 25	$1.69	$1.92	+13.6%	—	—	—
Q2 25	$1.61	$1.7	+5.6%	—	—	—
Q1 25	$1.37	$1.51	+10.2%	—	—	—
Q4 24	$1.07	$1.24	+15.9%	—	—	—
Q3 24	$1.13	$1.46	+29.2%	—	—	—
Q2 24	$1.76	$1.78	+1.1%	—	—	—
Q1 24	$1.77	$1.91	+7.9%	—	—	—
Q4 23	$1.54	$1.68	+9.1%	—	—	—
Q3 23	$1.66	$1.75	+5.4%	—	—	—
Q2 23	$1.57	$1.77	+12.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$6	—	—	$2.7B	—
FY24	—	$4.88	—	—	$2.5B	—
FY23	—	$5.75	—	—	$2.5B	—
FY22	—	$5.81	—	—	$2.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2.4B	$2.1B	$2.2B	$2.1B	$1.8B	$2.3B	$2.6B	$2.5B	$2.5B	$2.7B
YoY change	+2.05%	-11.4%	+3.76%	-1.59%	-17.8%	+31.3%	+13.3%	-3.62%	-2.03%	+10.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2.4B	2.1B	2.2B	2.1B	1.8B	2.3B	2.6B	2.5B	2.5B	2.7B
Cost of revenue	1.4B	1.3B	1.3B	1.3B	1.2B	1.5B	1.7B	1.6B	1.5B	1.7B
Gross profit	981.3M	802.3M	829.9M	793.5M	575.6M	771.8M	916.3M	955M	922.2M	1B
Gross margin	41.6%	38.4%	38.3%	37.2%	32.9%	33.5%	35.2%	38%	37.5%	38%
Research & development	140.5M	88.7M	91.6M	94.4M	73M	90.2M	104.3M	116.4M	112.4M	128.8M
Selling, general & administrative	486.4M	389.7M	411.4M	417.3M	323.4M	378M	448.6M	492.7M	494.6M	533.4M
Operating expenses	626.9M	478.5M	502.9M	511.7M	396.5M	468.3M	553M	609.1M	607M	662.1M
Operating income	256M	233.6M	251.9M	207.2M	150.1M	273M	325.4M	305.5M	266.5M	315.7M
Operating margin	10.9%	11.2%	11.6%	9.72%	8.57%	11.9%	12.5%	12.2%	10.8%	11.6%
Non-operating income, net	-34.5M	-53M	39.1M	1M	-395K	16.5M	35.5M	13.9M	-215K	-2.5M
Pretax income	126.5M	98M	230.1M	152.4M	90.8M	226.8M	317.4M	285.8M	227.9M	266.9M
Income tax	-1.2M	-4.6M	62.9M	42.5M	20.1M	27.9M	49.6M	43.2M	29.5M	29.3M
Net income	127.6M	92.9M	160.7M	-376.8M	-55.1M	64.3M	254.8M	242.6M	198.4M	237.5M
Net margin	5.42%	4.45%	7.42%	-17.7%	-3.14%	2.79%	9.78%	9.66%	8.06%	8.75%
EBITDA	393.4M	382.7M	400.4M	347.5M	258.4M	392.5M	418.2M	406.8M	382M	442.7M
EPS	2.67	1.38	3.1	-9.37	-1.23	1.43	5.81	5.75	4.88	6
Diluted EPS	2.65	1.37	3.08	-9.37	-1.23	1.41	5.72	5.66	4.8	5.91

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	626.8M	551.2M	535.7M	604.3M	654.9M	666M	624.9M	672M	698.2M	720.1M	696.4M	750.2M
Cost of revenue	385.6M	344.9M	334.1M	377.5M	410.9M	416.2M	379M	413.4M	435M	456.6M	438.3M	456.5M
Gross profit	241.2M	206.4M	201.6M	—	244M	249.8M	245.8M	258.6M	263.2M	263.6M	258.1M	293.6M
Gross margin	38.5%	37.4%	37.6%	—	37.3%	37.5%	39.3%	38.5%	37.7%	36.6%	37.1%	39.1%
Research & development	30.2M	25.9M	27M	28.5M	27.9M	29M	28.4M	33.9M	33.9M	32.5M	30.1M	31.7M
Selling, general & administrative	118.1M	126.4M	110.5M	119.5M	127M	137.4M	132M	131.9M	139.4M	130.5M	138.7M	147.8M
Operating expenses	148.3M	152.3M	137.5M	148M	154.9M	166.3M	160.4M	165.9M	173.3M	163M	168.7M	179.5M
Operating income	83.4M	44M	53.3M	68.9M	75.3M	69.2M	72.2M	79.2M	76.3M	87.5M	78M	99.3M
Operating margin	13.3%	7.97%	9.94%	11.4%	11.5%	10.4%	11.6%	11.8%	10.9%	12.2%	11.2%	13.2%
Non-operating income, net	12.4M	401K	—	230K	286K	-962K	—	-364K	-474K	-1.2M	-1.7M	-456K
Pretax income	87.2M	36.3M	45.7M	60.1M	64.8M	57.4M	62.1M	66.7M	64.3M	73.9M	62.8M	85.2M
Income tax	14.8M	-2.2M	8.4M	11.1M	11.1M	-1M	10.1M	5.7M	7.6M	6M	11.7M	16.7M
Net income	72.3M	38.5M	37.3M	49M	53.7M	58.4M	51.9M	61M	56.7M	67.9M	51M	68.5M
Net margin	11.5%	6.99%	6.96%	8.11%	8.2%	8.77%	8.31%	9.08%	8.12%	9.43%	7.33%	9.14%
EBITDA	108.6M	69.8M	80.2M	95.1M	106.7M	99.9M	102M	110.9M	109.4M	120.4M	110M	134.9M
EPS	1.72	0.93	0.91	1.21	1.32	1.45	1.29	1.54	1.43	1.73	1.31	1.76
Diluted EPS	1.7	0.91	0.9	1.19	1.3	1.42	1.27	1.53	1.41	1.7	1.3	1.74

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	3.1B	3.3B	1.7B	2.3B	1.9B	2.9B	3.2B	3.3B	4.6B	4.6B	4.3B
Enterprise value	3.9B	4.3B	2.8B	3.4B	3B	3.8B	3.7B	4B	5.5B	5.6B	5.4B
Shares outstanding	42.1M	42.2M	40.7M	42.2M	44.8M	44.8M	43.8M	42.2M	40.7M	39.6M	39.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	24.7	35.1	10.6	—	—	45.8	12.4	13.5	23.1	19.4	18.3
P/S	1.34	1.56	0.78	1.09	1.07	1.28	1.21	1.3	1.86	1.7	1.53
P/B	2.15	2.27	1.22	2.4	2.48	3.08	2.76	2.8	3.54	3.65	3.17
EV/EBITDA	9.96	11.1	6.88	9.85	11.6	9.79	8.85	9.74	14.3	12.7	11.9
EV/Sales	1.66	2.04	1.27	1.61	1.72	1.67	1.42	1.58	2.22	2.07	1.88
Earnings yield	4.06%	2.85%	9.46%	—	—	2.18%	8.08%	7.43%	4.33%	5.15%	5.48%
FCF yield	8.29%	5.86%	11.3%	7.19%	4.43%	6.02%	5.59%	6.22%	4.87%	4.74%	2.32%
PEG	—	—	—	—	—	—	—	—	—	—	1.28

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	41.6%	38.4%	38.3%	37.2%	32.9%	33.5%	35.2%	38%	37.5%	38%	39.1%
Operating margin	10.9%	11.2%	11.6%	9.72%	8.57%	11.9%	12.5%	12.2%	10.8%	11.6%	11.4%
Net margin	5.42%	4.45%	7.42%	-17.7%	-3.14%	2.79%	9.78%	9.66%	8.06%	8.75%	8.52%
ROE	8.73%	6.47%	11.6%	-39%	-7.27%	6.73%	22.3%	20.8%	15.3%	18.8%	18.6%
ROA	3.35%	2.42%	4.25%	-11.1%	-1.75%	1.88%	8.06%	7.49%	5.96%	6.7%	5.96%
ROIC	11.5%	9.6%	7.49%	7.23%	6.18%	12.9%	16.2%	13.9%	10.7%	12.3%	12.4%
Return on tangible assets	-149.6%	-45%	24.9%	-156.7%	-89.2%	4.95%	27%	27.3%	43.9%	35.4%	32.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.59	2.02	1.76	1.91	2.11	2.49	2.4	2.3	1.92	1.93	2.13
Quick ratio	2.26	1.58	1.39	1.59	1.63	2.04	1.87	1.72	1.37	1.36	1.49
Debt / equity	1.11	1.09	1.05	1.56	2.16	1.61	1.08	1.11	0.97	1.11	0.97
Debt / assets	0.43	0.41	0.39	0.44	0.52	0.45	0.39	0.4	0.38	0.4	0.37
Net debt / EBITDA	1.96	2.61	2.64	3.17	4.38	2.29	1.31	1.72	2.31	2.29	2.05
Interest coverage	2.33	2.19	4.78	3.73	2.54	4.62	8.29	9.5	6.95	6.76	6.6
Effective tax rate	0%	0%	27.4%	27.9%	22.1%	12.3%	15.6%	15.1%	13%	11%	14.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	56	49.4	53.2	50.5	39.1	51.4	59.4	59.5	60.5	68.6	73.2
EPS (basic)	2.67	1.38	3.1	-9.37	-1.23	1.43	5.81	5.75	4.88	6	6
EPS (diluted)	2.65	1.37	3.08	-9.37	-1.23	1.41	5.72	5.66	4.8	5.91	6.16
Book value per share	34.7	34	34.1	22.9	16.9	21.3	26.1	27.6	31.8	31.9	35.5
FCF per share	6.2	4.52	4.7	3.95	1.86	3.96	4.02	4.8	5.48	5.52	5.4
Cash per share	20.1	13.3	10	9.66	11.2	14.3	15.7	14.1	9.1	9.84	8.92
Capex per share	0.01	0.02	0.04	0	0.07	0.67	0.99	0.33	0	3.44	4.17

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.02%	0.05%	0.07%	0%	0.18%	1.31%	1.67%	0.55%	0%	5.02%	5.72%
Capex / operating cash flow	0.13%	0.46%	0.63%	-0.01%	5.97%	46.8%	13.7%	3.96%	0.03%	38.4%	43.6%
Payout ratio	12.6%	46.7%	26.9%	-9.14%	-16.4%	14.1%	3.51%	3.5%	4.13%	3.35%	3.25%
Dividend yield	0.51%	1.33%	2.54%	1.48%	0.48%	0.31%	0.28%	0.26%	0.18%	0.17%	0.18%

Yield

0.18%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.05

ex-dividend Sep 16, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 16, 2026	$0.05
Jun 16, 2026	$0.05
Mar 12, 2026	$0.05

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$626.8M	$551.2M	$535.7M	$604.3M	$654.9M	$666M	$624.9M	$672M	$698.2M	$720.1M	$696.4M	$750.2M
YoY change	-6.52%	-16.4%	-16.5%	-12.7%	+4.49%	+20.8%	+16.6%	+11.2%	+6.61%	+8.12%	+11.4%	+11.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	848.1M	561.1M	407.5M	407.5M	502M	641.6M	687.7M	597M	370.3M	389.9M
Receivables	388.1M	473.6M	336M	334.6M	296.8M	383.4M	440.1M	413.8M	409.7M	462.8M
Inventory	190.4M	297.2M	265M	231.3M	247.3M	345.2M	341.6M	367M	343.1M	402.3M
Total current assets	1.5B	1.4B	1.3B	1.4B	1.1B	1.9B	1.5B	1.5B	1.2B	1.3B
Property, plant & equipment	173.1M	188.7M	190.1M	281.6M	287M	309.6M	352.8M	431.8M	488.9M	533.3M
Goodwill & intangibles	3.9B	4B	3.1B	3.2B	3.1B	2.1B	2.2B	2.4B	2.9B	2.9B
Total assets	3.8B	3.8B	3.8B	3.4B	3.1B	3.4B	3.2B	3.2B	3.3B	3.5B
Accounts payable	258.2M	376.3M	297.5M	268.5M	244.1M	377.8M	350.1M	343.2M	315.7M	361.4M
Short-term debt	—	—	—	14.1M	14.8M	16.5M	16.8M	18.9M	21.1M	22.1M
Total current liabilities	570.3M	678.9M	716.9M	722.5M	520.8M	752.9M	639.9M	633.5M	622.7M	697.5M
Long-term debt	1.6B	1.6B	1.5B	1.5B	1.6B	1.5B	1.2B	1.3B	1.2B	1.4B
Total liabilities	2.3B	2.4B	2.4B	2.4B	2.4B	2.5B	2B	2.1B	2B	2.3B
Shareholders' equity	1.5B	1.4B	1.4B	965.8M	757.1M	956.1M	1.1B	1.2B	1.3B	1.3B
Total debt	1.6B	1.6B	1.5B	1.5B	1.6B	1.5B	1.2B	1.3B	1.3B	1.4B
Net debt	772M	999.6M	1.1B	1.1B	1.1B	896.9M	549.6M	701.1M	880.9M	1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	531M	597M	506.8M	564.8M	323M	370.3M	259M	301.5M	314.3M	389.9M	272.2M	348.7M
Receivables	481.1M	413.8M	356.4M	396.9M	430.2M	409.7M	420M	454.7M	461.3M	462.8M	499.1M	534.2M
Inventory	336.4M	367M	374.4M	375M	368.4M	343.1M	373M	388.8M	393.9M	402.3M	423.1M	420.6M
Total current assets	1.4B	1.5B	1.3B	1.4B	1.2B	1.2B	1.1B	1.2B	1.3B	1.3B	1.3B	1.4B
Property, plant & equipment	483.4M	431.8M	578.7M	588.8M	610.1M	488.9M	621.8M	641.8M	648.3M	533.3M	675.1M	686.3M
Goodwill & intangibles	2.3B	2.4B	2.3B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.9B	2.8B
Total assets	3.1B	3.2B	3.1B	3.5B	3.3B	3.3B	3.3B	3.4B	3.4B	3.5B	3.5B	3.6B
Accounts payable	304.9M	343.2M	263.6M	260.9M	306.7M	315.7M	307.1M	303.9M	308.8M	361.4M	326.9M	359.2M
Short-term debt	—	18.9M	—	—	—	21.1M	—	—	—	22.1M	—	—
Total current liabilities	553.2M	633.5M	514.5M	829.7M	579.3M	622.7M	588.2M	615.6M	631.4M	697.5M	613.6M	652.8M
Long-term debt	1.2B	1.3B	1.3B	1.3B	1.3B	1.2B	1.3B	1.4B	1.4B	1.4B	1.4B	1.3B
Total liabilities	1.9B	2.1B	2B	2.3B	2.1B	2B	2B	2.2B	2.2B	2.3B	2.2B	2.2B
Shareholders' equity	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	1.2B	1.2B	1.2B	1.3B	1.3B	1.4B
Total debt	1.2B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.4B	1.4B	1.3B
Net debt	680.3M	701.1M	781.5M	710.2M	1B	880.9M	1B	1.1B	1.1B	1B	1.1B	970.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	127.6M	92.9M	160.7M	-376.8M	-55.1M	64.3M	254.8M	242.6M	198.4M	237.5M
Depreciation & amortization	145.6M	149.7M	148.6M	139.3M	108.7M	88M	88.7M	99.4M	115.7M	129.4M
Stock-based compensation	18.2M	14.6M	18.5M	17.8M	20M	24.9M	23.7M	21M	27.5M	30M
Change in working capital	40.3M	-5.1M	-90.1M	16.4M	-1.3M	-116.1M	-48.4M	-2.1M	15M	-56.7M
Operating cash flow	301.7M	227.9M	249M	-226.9M	53M	64.6M	318.2M	348M	340.7M	354.9M
Capital expenditure	392K	1M	1.6M	25K	3.2M	30.2M	43.5M	13.8M	113K	-136.2M
Investing cash flow	-19.3M	-165.9M	-42.8M	-74.4M	58.6M	2.6M	273.5M	-83.6M	-297.7M	-128.4M
Dividends paid	-16.1M	-43.4M	-43.2M	-34.4M	-9M	-9.1M	-8.9M	-8.5M	-8.2M	-8M
Share repurchases	0	-25M	-175M	-50M	-35M	0	-150M	-192.1M	-134.3M	-195.6M
Financing cash flow	401.7M	-331.4M	-281.8M	-86.9M	-74.9M	-32.9M	-393.2M	-211.9M	-143.7M	-217.8M
Net change in cash	684.1M	-269.4M	-75.6M	-388.2M	36.6M	34.3M	198.5M	52.4M	-100.7M	8.7M
Free cash flow	260.8M	191M	191.4M	166.9M	83.1M	177.4M	176.2M	202.9M	223M	218.7M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	72.3M	38.5M	37.3M	49M	53.7M	58.4M	51.9M	61M	56.7M	67.9M	51M	68.5M
Depreciation & amortization	24.9M	25.5M	27M	26M	31.1M	31.7M	29.8M	32.1M	33.6M	34M	32.5M	36.1M
Stock-based compensation	2.7M	6.2M	6.4M	8.2M	7.4M	5.5M	7.8M	6.8M	8M	7.4M	9.2M	9M
Change in working capital	37.9M	75.4M	-22.1M	-29.4M	7.1M	59.4M	-41.1M	-44.5M	-214K	29.2M	-75.9M	1.8M
Operating cash flow	137.8M	145.6M	48.6M	53.9M	99.3M	154.9M	48.4M	82M	105M	160.4M	-18.7M	129.2M
Capital expenditure	13.8M	0	60K	0	46K	7K	106K	-25.2M	-39.7M	-39.1M	-44.4M	-40.7M
Investing cash flow	4.6M	0	60K	526K	-296.1M	-2.2M	8M	-25.2M	-39.9M	-39.1M	-44.4M	-40.7M
Dividends paid	-2.1M	-2.1M	-2.1M	-2M	-2M	-2M	-2M	-2M	-2M	-2M	-2M	-2M
Share repurchases	-63.8M	-42.1M	-57.9M	0	-20.1M	-56.4M	-84.5M	-16.5M	-50M	-44.6M	-30.4M	-1.4M
Financing cash flow	-61.5M	-44.5M	-64.9M	-2.5M	-17.4M	-58.9M	-96.8M	-19.4M	-54.2M	-47.4M	-53.1M	-10.6M
Net change in cash	80.9M	101M	-16.3M	51.9M	-214.2M	93.8M	-40.4M	37.5M	11M	73.8M	-116.1M	77.9M
Free cash flow	76.1M	104.8M	-21.5M	61M	67.2M	116.4M	-24.8M	56.9M	65.3M	121.3M	-63.1M	88.6M

Date	Ratio
Jul 16, 2004	1:2
Aug 22, 2000	3:2
Jan 12, 1998	3:2
Jan 2, 1996	3:2

Belden Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history