BHENYSEPrinted Circuit BoardsFiscal year ends December 31
BENCHMARK ELECTRONICS INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$71.12+0.50 (+0.71%)
Close on Oct 19, 2026
- Market cap
- $2.59B
- P/E (TTM)
- 48.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
10.2%+1.6 pts over 5 years
Operating margin
2.9%+1.6 pts over 5 years
Net margin
0.9%+0.3 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 | +0.1% | -2.7% | +5.3% | +0.5% | |
| Gross profit | +0.0% | +1.9% | +9.1% | +2.1% | |
| Operating income | -30.5% | -5.5% | +24.8% | -2.0% | |
| Net income | -59.3% | -28.6% | +12.1% | -12.6% | |
| EPS, diluted | -59.0% | -29.1% | +12.3% | -9.4% | |
| Free cash flow | -44.1% | – | +0.6% | -2.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 4.8% | 1.4% | 2.3% | |
| Return on assets | 3.3% | 0.8% | 1.2% | |
| Current ratio | 3.71 | 2.50 | 2.28 | |
| Debt to equity | 0.16 | 0.14 | 0.19 | |
| Net debt to EBITDA | -3.47× | -3.46× | -0.90× | |
| Interest coverage | 8.3× | 3.0× | 3.8× | |
| Inventory turnover | 5.3× | 5.8× | 4.6× | |
| Capex to revenue | 1.3% | 1.7% | 1.3% | |
| Diluted shares | 50M | 37M | 36M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Benchmark Electronics generated $667.57M from operations and spent $422.31M on capital expenditure, dividends and share buybacks. 53% of that went back into the business.
Generated
$667.57M
Used
$422.31M
Capital expenditure$222.55M53%Dividends$118.21M28%Share buybacks$81.56M19%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.9%
×Asset turnover1.26×
×Equity multiplier1.91×
=Return on equity, FY20252.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.9% | 1.26× | 1.91× | 2.3% |
| FY2024 | 2.3% | 1.20× | 2.02× | 5.6% |
| FY2023 | 2.4% | 1.26× | 2.14× | 6.5% |
| FY2022 | 2.4% | 1.40× | 2.07× | 6.8% |
| FY2021 | 1.6% | 1.24× | 1.86× | 3.6% |
| FY2020 | 0.7% | 1.17× | 1.75× | 1.4% |
| FY2019 | 1.0% | 1.24× | 1.70× | 2.2% |
| FY2018 | 0.9% | 1.28× | 1.62× | 1.8% |
| FY2017 | -1.3% | 1.19× | 1.52× | -2.4% |
| FY2016 | 2.8% | 1.19× | 1.45× | 4.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$24.85M
- Cash generatingOperating cash flow above zero$123.96M
- Return on assets improvedROA up on the prior year2.7% → 1.2%
- Earnings backed by cashOperating cash flow above net income$123.96M vs $24.85M
- Less leverageLong-term debt to assets fell11.7% → 10.0%
- Better liquidityCurrent ratio rose2.32 → 2.28
- No dilutionShare count did not rise37M → 36M
- Gross margin improvedGross margin up on the prior year10.17% → 10.16%
- More efficientAsset turnover rose1.17 → 1.25