BDCNYSEDrawing & Insulating of Nonferrous WireFiscal year ends December 31
BELDEN INC.
Financials through Q2 FY2026, quarter ended Jun 28, 2026Last filing: 10-Q on Jul 30, 2026
$103.67+0.84 (+0.82%)
Close on Oct 19, 2026
- Market cap
- $4.07B
- P/E (TTM)
- 16.9
- Dividend yield
- 0.19%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
38.0%+5.1 pts over 5 years
Operating margin
11.6%+3.1 pts over 5 years
Net margin
8.7%+11.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.3% | +1.4% | +9.2% | +1.6% | |
| Gross profit | +11.8% | +4.0% | +12.4% | +1.2% | |
| Operating income | +18.5% | -4.6% | +16.0% | +8.4% | |
| Net income | +19.7% | -2.3% | – | +13.6% | |
| EPS, diluted | +23.1% | +1.1% | – | +14.4% | |
| Free cash flow | -1.9% | +7.5% | +21.3% | +1.6% | |
| Dividend per share | 0.0% | 0.0% | 0.0% | 0.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.2% | -6.5% | 18.6% | |
| Return on assets | 3.6% | -1.7% | 6.9% | |
| Current ratio | 2.59 | 2.11 | 1.93 | |
| Debt to equity | 1.11 | 2.10 | 1.02 | |
| Net debt to EBITDA | 2.04× | 4.14× | 2.01× | |
| Inventory turnover | 7.1× | 4.9× | 4.5× | |
| Capex to revenue | 2.3% | 5.1% | 5.0% | |
| Diluted shares | 43M | 45M | 40M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Belden generated $1.58B from operations and spent $620.74M on capital expenditure, dividends and share buybacks. 93% of that went back into the business.
Generated
$1.58B
Used
$620.74M
Capital expenditure$578.08M93%Dividends$42.66M7%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.7%
×Asset turnover0.79×
×Equity multiplier2.69×
=Return on equity, FY202518.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.7% | 0.79× | 2.69× | 18.6% |
| FY2024 | 8.1% | 0.75× | 2.67× | 16.1% |
| FY2023 | 9.7% | 0.78× | 2.77× | 21.0% |
| FY2022 | 9.8% | 0.79× | 3.14× | 24.3% |
| FY2021 | 2.8% | 0.70× | 3.84× | 7.5% |
| FY2020 | -3.1% | 0.54× | 3.83× | -6.5% |
| FY2019 | -17.7% | 0.59× | 3.06× | -32.1% |
| FY2018 | 7.4% | 0.57× | 2.70× | 11.4% |
| FY2017 | 4.5% | 0.55× | 2.64× | 6.4% |
| FY2016 | 5.4% | 0.66× | 3.11× | 11.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$237.52M
- Cash generatingOperating cash flow above zero$354.86M
- Return on assets improvedROA up on the prior year6.1% → 7.1%
- Earnings backed by cashOperating cash flow above net income$354.86M vs $237.52M
- Less leverageLong-term debt to assets fell34.0% → 36.3%
- Better liquidityCurrent ratio rose1.92 → 1.93
- No dilutionShare count did not rise41M → 40M
- Gross margin improvedGross margin up on the prior year37.47% → 37.98%
- More efficientAsset turnover rose0.76 → 0.82