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Belden Inc. (BDC)

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Belden Inc. (BDC) reported revenue of $750 million for Q2 FY2026, the quarter ended 28 June 2026, up 11.6% on the same quarter a year earlier. Net income was $69 million, up 12.3% on the year, and diluted earnings per share $1.74. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$750 millionup 11.6%
Net income$69 millionup 12.3%
Diluted EPS$1.74
QuarterQ2 FY2026ended 28 June 2026

Belden (BDC) in brief

Belden (BDC) reported revenue of $2.7 billion for fiscal 2025, the year ended 31 December 2025, up 10.3% on the year before.
Read moreNet income was $238 million and diluted earnings per share $5.91. Revenue was $2.5 billion in fiscal 2024, $2.5 billion in fiscal 2023, $2.6 billion in fiscal 2022 and $2.3 billion in fiscal 2021. Net income in the same years was $198 million, $243 million, $255 million and $64 million. Over the twelve months to 28 June 2026, Belden reported revenue of $2.9 billion and net income of $244 million. Revenue grew 9.2% a year, compounded, over the five years to fiscal 2025. Belden declared $0.20 a share in dividends over the last four quarters and had 39 million shares outstanding at the latest filed count. At 28 June 2026 it carried $1.2 billion of debt and $349 million of cash. At the close of 8 October 2026 the market cap of Belden was $4.2 billion, 17.6 times its earnings over the last twelve months.

Ratios

From the filings

ROE17.6%
ROCE13.0%
Operating margin11.9%
Net margin8.5%
FCF margin7.4%
Interest covern/a
Debt to equity0.89
Cash conversion1.54
Share count, 1 year-1.4%
Sales CAGR, 3 years1.4%
Profit CAGR, 3 years-2.3%
EPS, TTM$6.15

At the close of 8 October 2026

Price$107.94
Market cap$4.2 billion
Stock P/E17.55
Price to book3.05
EV / EBITDA10.84
Dividend yield0.2%
Market cap / sales1.47
52-week high$150.91
52-week low$99.52
Price, 1 year-6.4%
Price CAGR, 3 years4.1%
Price CAGR, 5 years12.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Belden Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
BDCgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on BDC

Filings19 in twelve months: 12 current reports (8-K), about 4 results of operations; 3 material agreement; 2 new financial obligation; 2 other events; 2 officer or director change
Planned insider sales11 Form 144 notices in twelve months, $2.9 million; latest 15 September 2026
Options tapeput/call 0.34 by open interest at the 8 October 2026 close; the straddle prices a 5.1% move to 16 October 2026
13F holders9 of the followed funds hold it; largest FMR LLC; 8 Schedule 13D or 13G filings in twelve months
Insider trading11 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest4.1 million shares short, 8.81 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue627551536604655666625672698720696750
Cost of revenue386345334378411416379413435457438457
Gross profit241206202227244250246259263264258294
Gross margin38%37%38%38%37%38%39%38%38%37%37%39%
R&D30.225.927.028.527.929.028.433.933.932.530.131.7
SG&A118126111119127137132132139131139148
Operating income95.444.053.068.975.369.272.679.276.387.578.099.3
Operating margin15%8%10%11%12%10%12%12%11%12%11%13%
Pre-tax income87.236.345.760.164.857.462.166.764.373.962.885.2
Tax rate17%-6%18%18%17%-2%16%8%12%8%19%20%
Net income72.338.537.349.053.758.451.961.056.767.951.068.5
Net margin12%7%7%8%8%9%8%9%8%9%7%9%
Diluted EPS$1.70$0.91$0.90$1.19$1.30$1.42$1.27$1.53$1.41$1.70$1.30$1.74
Operating cash flow1051602.783.091.71757.482.0105160-18.7129
Capital expenditure29.154.924.222.024.558.332.225.239.739.144.440.7
Free cash flow76.1105-21.561.067.2116-24.856.965.3121-63.188.6
Dividends paid2.12.12.12.02.02.02.02.02.02.02.02.0
Shares outstanding42m41m41m41m40m40m39m40m39m39m39m39m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue2,3082,3092,3572,0872,1662,1311,7522,3012,6062,5122,4612,7152,865
Cost of revenue1,4891,3911,3751,2851,3361,3381,1771,5291,6901,5571,5391,6841,786
Gross profit8199189818028307945767729169559221,0311,078
Gross margin35.5%39.8%41.6%38.4%38.3%37.2%32.9%33.5%35.2%38.0%37.5%38.0%37.6%
Research and development11414814188.791.694.473.090.2104116112129128
Selling, general and administrative484526486390411417323378449493495533556
Operating income163141232234314207150264363318266316341
Operating margin7.1%6.1%9.8%11.2%14.5%9.7%8.6%11.5%13.9%12.6%10.8%11.6%11.9%
Interest expense82.2n/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income81.539.912698.023015290.8227317286228267286
Income tax7.1-26.6-1.2-4.662.942.520.127.949.643.229.529.341.9
Effective tax rate8.7%-66.5%-0.9%-4.7%27.4%27.9%22.1%12.3%15.6%15.1%13.0%11.0%14.7%
Net income74.466.212893.2161-377-55.263.9255243198238244
Net margin3.2%2.9%5.4%4.5%7.4%-17.7%-3.1%2.8%9.8%9.7%8.1%8.7%8.5%
Diluted EPS$1.69$1.54$2.65$1.37$3.08-$9.37-$1.23$1.41$5.72$5.66$4.80$5.91$6.15
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Automation Solutions1,3891,3171,49655.1%
Smart Infrastructure Solutions1,1231,1441,21944.9%
Automation SolutionsSmart Infrastructure Solutions
2,512FY20232,461FY20242,715FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Automation Solutions1,3891,3171,49655.1%
Broadband Solutions55559863323.3%
Smart Buildings Solutions56854658621.6%
Affiliate Revenues1.40.91.20.0%
Automation SolutionsBroadband SolutionsSmart Buildings SolutionsAffiliate Revenues
2,514FY20232,462FY20242,716FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States1,3831,3921,57958.2%
Other72169870826.1%
Canada1691601897.0%
Germany1341181395.1%
China10592.199.23.7%
United StatesOtherCanadaGermanyChina
2,512FY20232,461FY20242,715FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow201241315255289277173272281320352355376
Capital expenditure45.555.054.064.397.811090.291.0105117129136164
Free cash flow15518626119119116783.1181176203223219212
Free cash flow margin6.7%8.1%11.1%9.2%8.8%7.8%4.7%7.9%6.8%8.1%9.1%8.1%7.4%
Cash from investing-392-746-73.3-230-141-184-31.6-92.0168-200-427-128-164
Cash from financing330-11.1402-331-282-86.9-74.9-32.9-393-212-144-218-165
Depreciation and amortisation10215014615014913910988.088.799.4116129130
Share-based compensation18.917.718.214.618.517.820.024.923.721.027.530.033.6
Buybacks92.239.10.025.0n/an/an/an/an/an/an/an/an/a
Dividends paid8.78.416.143.443.234.49.09.18.98.58.28.07.9
Dividend per share$0.20$0.20$0.20$0.20$0.20$0.20$0.20$0.20$0.20$0.20$0.20$0.20n/a
Diluted shares, weighted44m43m43m43m41m42m45m45m45m43m41m40m39m
Shares outstanding at period end42m42m42m42m39m45m45m45m43m41m40m39m39m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018 †FY2019FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity8078241,4601,4341,3879607519551,1431,1661,2951,2641,385
Non-controlling interestn/a1.41.00.60.46.06.50.80.90.00.0n/an/a
Debt1,7391,7281,6201,5611,4631,4391,5741,4601,1611,2041,1301,2861,231
Operating lease liabilitiesn/an/an/an/a0.055.746.462.059.274.910094.488.7
Finance lease liabilitiesn/an/an/an/an/an/an/a0.35.96.18.87.96.9
Other liabilities686737725845929946763939791789794891857
Total liabilities and equity3,2323,2913,8073,8413,7793,4073,1403,4183,1623,2403,3283,5443,567
Owned
Fixed assets316311309337311346369344382451496566584
Goodwill9431,3851,3861,2091,2071,2447908218629071,0191,0371,030
Intangible assets461656560425360340219238247269419400381
Cash and equivalents741217848541407407501642688597370390349
Receivables380387388474336335297383440414410463534
Inventory228196190297265231247345342367343402421
Other assets162139125558893504718644201235271286269
Total assets3,2323,2913,8073,8413,7793,4073,1403,4183,1623,2403,3283,5443,567
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.6%9.2%1.4%9.4%
Profit growth, compounded13.6%n/a-2.3%8.5%
Return on equity, average6.4%16.8%18.3%18.8%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Steel Works Etc

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Corning Inc. GLW$131.6 billion69.7915.1%15.3%19.4%0.620.7%
Howmet Aerospace Inc. HWM$89.1 billion48.0132.6%27.4%18.1%0.790.3%
Nucor Corp. NUE$55.8 billion19.6313.0%n/a17.2%0.290.9%
Steel Dynamics Inc. STLD$33.6 billion21.2317.1%10.0%19.8%0.450.9%
ATI Inc. ATI$25.6 billion55.1725.4%15.2%4.6%0.960.0%
Carpenter Technology Corp. CRS$19.2 billion36.8023.8%22.5%8.6%0.310.2%
POSCO Holdings Inc. PKX *$17.2 billion33.441.2%2.1%-6.1%0.513.8%
Mueller Industries Inc. MLI$13.4 billion15.7524.0%23.0%14.8%0.000.8%
Alcoa Corp. AA$11.3 billion8.9017.3%n/a6.5%0.300.2%
Commercial Metals Co. CMC$7.0 billion11.8813.1%7.6%15.2%0.711.1%
Belden Inc. BDC$4.2 billion17.5517.6%11.9%9.4%0.890.2%
1 company shares its SEC industry code (Drawing & Insulating Of Nonferrous Wire); the rest are the names nearest in size in its wider industry, Steel Works Etc, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q28 June 202630 July 2026EDGAR
10-Q29 March 202630 April 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q28 September 202530 October 2025EDGAR
10-Q29 June 202531 July 2025EDGAR
10-Q30 March 20251 May 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q29 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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