BELFANasdaqElectronic Coils, Transformers & Other InductorsFiscal year ends December 31Also trades as BELFB
BEL FUSE INC /NJ
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$173.34+5.18 (+3.08%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
39.1%+13.4 pts over 5 years
Operating margin
16.4%+12.4 pts over 5 years
Net margin
9.1%+6.4 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 | +26.3% | +1.1% | +7.7% | +1.8% | |
| Gross profit | +30.7% | +13.0% | +17.2% | +9.3% | |
| Operating income | +72.6% | +19.4% | +42.8% | +14.5% | |
| Net income | +50.2% | +5.3% | +36.9% | +12.4% | |
| Free cash flow | +14.4% | +29.7% | +11.0% | +2.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -33.1% | 7.2% | 15.7% | |
| Return on assets | -12.9% | 2.8% | 6.5% | |
| Current ratio | 2.77 | 3.20 | 3.02 | |
| Debt to equity | 0.89 | 0.62 | 0.46 | |
| Net debt to EBITDA | -1.24× | 0.87× | 1.02× | |
| Interest coverage | -11.5× | 3.9× | 7.5× | |
| Inventory turnover | 4.1× | 3.3× | 2.5× | |
| Capex to revenue | 1.6% | 1.2% | 1.8% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bel Fuse generated $307.91M from operations and spent $90.17M on capital expenditure, dividends and share buybacks. 63% of that went back into the business.
Generated
$307.91M
Used
$90.17M
Capital expenditure$56.47M63%Dividends$17.20M19%Share buybacks$16.51M18%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.1%
×Asset turnover0.72×
×Equity multiplier2.40×
=Return on equity, FY202515.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.1% | 0.72× | 2.40× | 15.7% |
| FY2024 | 7.7% | 0.70× | 2.17× | 11.7% |
| FY2023 | 11.5% | 1.13× | 1.88× | 24.5% |
| FY2022 | 8.1% | 1.22× | 2.28× | 22.4% |
| FY2021 | 4.6% | 1.13× | 2.45× | 12.6% |
| FY2020 | 2.7% | 1.01× | 2.61× | 7.2% |
| FY2019 | -1.8% | 1.08× | 2.65× | -5.1% |
| FY2018 | 3.8% | 1.25× | 2.62× | 12.4% |
| FY2017 | -2.4% | 1.15× | 2.71× | -7.5% |
| FY2016 | -13.0% | 1.00× | 2.57× | -33.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$61.54M
- Cash generatingOperating cash flow above zero$80.61M
- Return on assets improvedROA up on the prior year7.2% → 6.5%
- Earnings backed by cashOperating cash flow above net income$80.61M vs $61.54M
- Less leverageLong-term debt to assets fell30.3% → 21.1%
- Better liquidityCurrent ratio rose2.92 → 3.02
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year37.84% → 39.15%
- More efficientAsset turnover rose0.94 → 0.71