NYSE : BDC
Belden Inc. — Financial statements
Technology · Communication Equipment · United States
Last price 105.7 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.13B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Belden Inc. (BDC) reported revenue of 3.13B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.13B | 2.72B | 2.46B | 2.51B | 2.61B | 2.30B |
| Cost of Revenue | 2.00B | 1.68B | 1.54B | 1.56B | 1.68B | 1.52B |
| Gross Profit | 1.14B | 1.03B | 923.54M | 956.63M | 926.35M | 782.64M |
| Selling, General & Admin | 625.00M | 529.21M | 479.44M | 475.48M | 438.22M | 363.68M |
| Research & Development | 149.22M | 128.41M | 112.24M | 114.80M | 104.35M | 90.23M |
| Amortization of Goodwill & Intangibles | 93.99M | 53.36M | 48.79M | 40.38M | 37.86M | 30.63M |
| Operating Expenses | 868.21M | 710.98M | 640.48M | 630.65M | 580.43M | 484.53M |
| Operating Income | 268.34M | 320.61M | 283.06M | 325.98M | 345.92M | 298.10M |
| Interest Expense | -81.35M | -46.35M | -38.30M | -33.62M | -43.55M | -62.69M |
| EBT Excluding Unusual Items | 186.99M | 274.26M | 244.76M | 292.35M | 302.36M | 235.41M |
| Merger & Restructuring Charges | -7.32M | -7.32M | -16.82M | -18.65M | -16.47M | -20.67M |
| Gain (Loss) on Sale of Investments | 27.04M | |||||
| Gain (Loss) on Sale of Assets | 12.06M | 37.89M | ||||
| Asset Writedown | -9.28M | |||||
| Other Unusual Items | 16.63M | -76.00K | -6.39M | -5.71M | ||
| Pretax Income | 196.30M | 266.87M | 227.94M | 285.76M | 317.39M | 226.78M |
| Income Tax Expense | 20.20M | 29.34M | 29.53M | 43.20M | 49.65M | 27.94M |
| Earnings From Continuing Operations | 176.10M | 237.52M | 198.41M | 242.56M | 267.75M | 198.84M |
| Earnings From Discontinued Operations | -12.93M | -134.52M | ||||
| Net Income to Company | 176.10M | 237.52M | 198.41M | 242.56M | 254.82M | 64.32M |
| Minority Interest in Earnings | 19.00K | 203.00K | -159.00K | -392.00K | ||
| Net Income | 176.10M | 237.52M | 198.43M | 242.76M | 254.66M | 63.92M |
| Net Income to Common | 176.10M | 237.52M | 198.43M | 242.76M | 254.66M | 63.92M |
| Shares Outstanding (Basic) | 39.02M | 39.60M | 40.69M | 42.24M | 43.84M | 44.80M |
| Shares Outstanding (Diluted) | 39.50M | 40.21M | 41.30M | 42.86M | 44.54M | 45.36M |
| EPS (Basic) | 4.51 | 6.00 | 4.88 | 5.75 | 5.81 | 1.43 |
| EPS (Diluted) | 4.46 | 5.91 | 4.80 | 5.66 | 5.72 | 1.40 |
| Free Cash Flow | 228.59M | 218.69M | 222.98M | 202.91M | 176.20M | 181.07M |
| Free Cash Flow Per Share | 5.79 | 5.44 | 5.40 | 4.73 | 3.96 | 3.99 |
| Dividend Per Share | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Gross Margin | 36.28% | 37.99% | 37.53% | 38.08% | 35.54% | 34.01% |
| Operating Margin | 8.57% | 11.81% | 11.50% | 12.98% | 13.27% | 12.95% |
| Profit Margin | 5.62% | 8.75% | 8.06% | 9.66% | 9.77% | 2.78% |
| Free Cash Flow Margin | 7.30% | 8.05% | 9.06% | 8.08% | 6.76% | 7.87% |
| EBITDA | 434.82M | 437.75M | 388.24M | 417.73M | 430.78M | 384.51M |
| EBITDA Margin | 13.88% | 16.12% | 15.78% | 16.63% | 16.53% | 16.71% |
| D&A For EBITDA | 166.48M | 117.14M | 105.18M | 91.75M | 84.86M | 86.41M |
| EBIT | 268.34M | 320.61M | 283.06M | 325.98M | 345.92M | 298.10M |
| EBIT Margin | 8.57% | 11.81% | 11.50% | 12.98% | 13.27% | 12.95% |
| Effective Tax Rate | 10.29% | 11.00% | 12.95% | 15.12% | 15.64% | 12.32% |
| Advertising Expenses | 17.00M | 14.00M | 18.80M | 13.70M | 10.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 380.71M | 389.89M | 370.30M | 597.04M | 687.68M | 641.56M |
| Cash & Short-Term Investments | 380.71M | 389.89M | 370.30M | 597.04M | 687.68M | 641.56M |
| Receivables | 684.35M | 462.85M | 409.71M | 413.81M | 440.10M | 383.44M |
| Inventory | 555.07M | 402.35M | 343.10M | 366.99M | 341.56M | 345.20M |
| Other Current Assets | 113.38M | 94.30M | 73.12M | 79.14M | 66.87M | 507.44M |
| Total Current Assets | 1.73B | 1.35B | 1.20B | 1.46B | 1.54B | 1.88B |
| Property, Plant & Equipment | 749.50M | 688.60M | 624.11M | 545.97M | 460.83M | 422.23M |
| Goodwill | 2.03B | 1.04B | 1.02B | 907.33M | 862.25M | 821.45M |
| Other Intangible Assets | 1.38B | 399.80M | 419.07M | 269.14M | 246.83M | 238.16M |
| Long-Term Deferred Tax Assets | 16.65M | 14.51M | 16.35M | 15.74M | 14.64M | 31.74M |
| Other Long-Term Assets | 58.13M | 54.51M | 53.49M | 45.03M | 40.91M | 26.46M |
| Total Assets | 5.97B | 3.54B | 3.33B | 3.24B | 3.16B | 3.42B |
| Accounts Payable | 398.84M | 361.43M | 315.72M | 343.21M | 350.06M | 377.76M |
| Accrued Expenses | 476.60M | 273.71M | 256.11M | 247.63M | 246.81M | 249.33M |
| Current Portion of Long-Term Debt | 18.50M | |||||
| Current Portion of Leases | 22.14M | 22.15M | 21.09M | 18.95M | 16.83M | 16.52M |
| Current Unearned Revenue | 40.21M | 29.78M | 23.72M | 26.21M | 12.26M | |
| Other Current Liabilities | 35.23M | 96.99M | ||||
| Total Current Liabilities | 951.32M | 697.50M | 622.70M | 633.50M | 639.92M | 752.87M |
| Long-Term Debt | 3.03B | 1.29B | 1.13B | 1.20B | 1.16B | 1.46B |
| Long-Term Leases | 120.11M | 102.29M | 108.89M | 81.03M | 65.18M | 62.29M |
| Pension & Post-Retirement Benefits | 57.78M | 63.60M | 63.26M | 74.57M | 67.83M | 121.00M |
| Long-Term Deferred Tax Liabilities | 274.26M | 98.06M | 77.33M | 49.47M | 58.58M | 51.11M |
| Other Long-Term Liabilities | 139.84M | 32.09M | 30.91M | 31.10M | 25.04M | 14.34M |
| Total Liabilities | 4.58B | 2.28B | 2.03B | 2.07B | 2.02B | 2.46B |
| Common Stock | 503.00K | 503.00K | 503.00K | 503.00K | 503.00K | 503.00K |
| Additional Paid-In Capital | 887.03M | 867.46M | 839.75M | 818.66M | 825.67M | 833.63M |
| Retained Earnings | 1.51B | 1.41B | 1.18B | 985.81M | 751.52M | 505.72M |
| Treasury Stock | -930.59M | -911.90M | -718.03M | -597.44M | -428.81M | -313.99M |
| Comprehensive Income & Other | -72.83M | -97.20M | -3.53M | -41.28M | -5.87M | -70.57M |
| Total Common Equity | 1.39B | 1.26B | 1.29B | 1.17B | 1.14B | 955.29M |
| Minority Interest | 45.00K | 939.00K | 795.00K | |||
| Shareholders' Equity | 1.39B | 1.26B | 1.29B | 1.17B | 1.14B | 956.08M |
| Total Liabilities & Equity | 5.97B | 3.54B | 3.33B | 3.24B | 3.16B | 3.42B |
| Total Debt | 3.19B | 1.41B | 1.26B | 1.30B | 1.24B | 1.54B |
| Net Cash (Debt) | -2.81B | -1.02B | -889.78M | -707.14M | -555.51M | -897.24M |
| Net Cash Per Share | -71.19 | -25.37 | -21.54 | -16.50 | -12.47 | -19.78 |
| Filing Date Shares Outstanding | 39.10M | 38.75M | 40.27M | 41.09M | 42.90M | 44.99M |
| Total Common Shares Outstanding | 39.09M | 38.95M | 40.21M | 41.13M | 42.83M | 44.98M |
| Working Capital | 782.19M | 651.88M | 573.52M | 823.48M | 896.29M | 1.12B |
| Book Value Per Share | 35.61 | 32.47 | 32.20 | 28.36 | 26.69 | 21.24 |
| Tangible Book Value | -2.02B | -172.20M | -143.01M | -10.22M | 33.93M | -104.32M |
| Tangible Book Value Per Share | -51.61 | -4.42 | -3.56 | -0.25 | 0.79 | -2.32 |
| Land | 30.37M | 24.84M | 27.63M | 25.55M | 27.58M | |
| Buildings | 145.76M | 125.29M | 108.96M | 102.45M | 109.58M | |
| Machinery | 893.41M | 832.71M | 799.20M | 759.11M | 748.80M | |
| Construction In Progress | 179.99M | 174.81M | 157.06M | 106.36M | 65.32M | |
| Order Backlog | 567.70M | 509.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 176.10M | 237.52M | 198.43M | 242.76M | 254.66M | 63.92M |
| Depreciation & Amortization | 166.48M | 117.14M | 105.18M | 91.75M | 84.86M | 86.41M |
| Other Amortization | 14.48M | 12.29M | 10.56M | 7.69M | 3.88M | 1.58M |
| Loss (Gain) From Sale of Assets | -12.06M | -37.89M | 5.70M | |||
| Asset Writedown & Restructuring Costs | 3.58M | |||||
| Stock-Based Compensation | 36.68M | 30.02M | 27.53M | 21.02M | 23.68M | 24.87M |
| Other Operating Activities | 6.30M | 5.03M | -15.97M | -13.16M | 5.92M | 9.68M |
| Change in Accounts Receivable | -80.12M | -37.77M | 18.86M | 24.53M | -33.60M | -119.01M |
| Change in Inventory | -9.41M | -48.23M | 24.32M | -15.33M | 5.56M | -92.98M |
| Change in Accounts Payable | 51.98M | 19.46M | -21.72M | -8.18M | -20.59M | 135.67M |
| Change in Income Taxes | -27.51M | -9.09M | 6.64M | -3.67M | 2.33M | -6.45M |
| Change in Other Net Operating Assets | 65.60M | 28.51M | -1.75M | -15.73M | -7.51M | 27.91M |
| Operating Cash Flow | 400.59M | 354.86M | 352.08M | 319.64M | 281.30M | 272.06M |
| Capital Expenditures | -172.00M | -136.17M | -129.10M | -116.73M | -105.09M | -90.98M |
| Sale of Property, Plant & Equipment | 130.00K | 191.00K | 113.00K | 13.79M | 43.53M | 30.23M |
| Cash Acquisitions | -1.87B | 7.74M | -296.45M | -106.71M | -104.60M | -73.34M |
| Divestitures | -1.32M | 9.30M | 334.57M | 45.73M | ||
| Sale (Purchase) of Intangibles | -3.65M | |||||
| Investing Cash Flow | -2.04B | -128.24M | -426.75M | -200.36M | 168.41M | -92.00M |
| Short-Term Debt Issued | 50.00M | |||||
| Long-Term Debt Issued | 356.01M | |||||
| Total Debt Issued | 2.43B | 50.00M | 356.01M | |||
| Short-Term Debt Repaid | -50.00M | |||||
| Long-Term Debt Repaid | -1.83M | -1.13M | -423.00K | -230.80M | -363.45M | |
| Total Debt Repaid | -587.86M | -51.83M | -1.13M | -423.00K | -230.80M | -363.45M |
| Net Debt Issued (Repaid) | 1.84B | -1.83M | -1.13M | -423.00K | -230.80M | -7.45M |
| Issuance of Common Stock | 13.61M | 11.63M | 8.92M | 6.57M | 3.72M | |
| Repurchase of Common Stock | -95.52M | -216.40M | -143.97M | -209.58M | -157.19M | -5.57M |
| Common Dividends Paid | -7.84M | -7.97M | -8.20M | -8.50M | -8.95M | -9.06M |
| Dividends Paid | -7.84M | -7.97M | -8.20M | -8.50M | -8.95M | -9.06M |
| Other Financing Activities | -47.56M | -3.20M | 661.00K | -10.86M | ||
| Financing Cash Flow | 1.71B | -217.77M | -143.72M | -211.93M | -393.21M | -32.93M |
| Foreign Exchange Rate Adjustments | -105.00K | 10.73M | -8.35M | 2.02M | -12.57M | -5.36M |
| Net Cash Flow | 66.45M | 19.59M | -226.74M | -90.63M | 43.92M | 141.76M |
| Free Cash Flow | 228.59M | 218.69M | 222.98M | 202.91M | 176.20M | 181.07M |
| Free Cash Flow Margin | 7.30% | 8.05% | 9.06% | 8.08% | 6.76% | 7.87% |
| Free Cash Flow Per Share | 5.79 | 5.44 | 5.40 | 4.73 | 3.96 | 3.99 |
| Levered Free Cash Flow | 56.74M | 134.85M | 188.22M | 166.53M | 470.59M | -246.14M |
| Unlevered Free Cash Flow | 107.58M | 163.83M | 212.16M | 187.54M | 497.81M | -206.95M |
| Cash Interest Paid | 43.16M | 43.16M | 42.40M | 42.10M | 45.17M | 54.18M |
| Cash Income Tax Paid | 45.35M | 55.69M | 54.77M | 34.02M | ||
| Change in Working Capital | 543.00K | -47.13M | 26.34M | -18.38M | -53.81M | -54.87M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.13B | 4.58B | 4.54B | 3.22B | 3.08B | 2.95B |
| Enterprise Value | 6.94B | 5.67B | 5.58B | 3.92B | 3.65B | 4.06B |
| Last Close Price | 105.70 | 116.40 | 112.27 | 76.86 | 71.37 | 65.04 |
| PE Ratio | 23.70 | 19.28 | 22.89 | 13.26 | 12.09 | 46.17 |
| Forward PE | 11.04 | 15.27 | 15.41 | 14.53 | 11.10 | 13.27 |
| PS Ratio | 1.32 | 1.69 | 1.85 | 1.28 | 1.18 | 1.28 |
| PB Ratio | 2.97 | 3.62 | 3.51 | 2.76 | 2.69 | 3.09 |
| P/TBV Ratio | 90.71 | |||||
| P/FCF Ratio | 18.08 | 20.95 | 20.37 | 15.87 | 17.47 | 16.30 |
| P/OCF Ratio | 10.32 | 12.91 | 12.90 | 10.07 | 10.94 | 10.85 |
| PEG Ratio | 0.86 | 0.86 | 0.86 | 0.86 | 0.86 | |
| EV/Sales Ratio | 2.22 | 2.09 | 2.27 | 1.56 | 1.40 | 1.76 |
| EV/EBITDA Ratio | 15.97 | 12.96 | 14.37 | 9.39 | 8.47 | 10.55 |
| EV/EBIT Ratio | 25.88 | 17.69 | 19.71 | 12.03 | 10.55 | 13.61 |
| EV/FCF Ratio | 30.38 | 25.94 | 25.03 | 19.33 | 20.71 | 22.40 |
| Debt / Equity Ratio | 2.29 | 1.11 | 0.97 | 1.12 | 1.09 | 1.61 |
| Debt / EBITDA Ratio | 6.81 | 3.00 | 3.00 | 2.96 | 2.75 | 3.82 |
| Debt / FCF Ratio | 13.97 | 6.45 | 5.65 | 6.43 | 7.05 | 8.50 |
| Net Debt / Equity Ratio | 2.02 | 0.81 | 0.69 | 0.61 | 0.49 | 0.94 |
| Net Debt / EBITDA Ratio | 6.47 | 2.33 | 2.29 | 1.69 | 1.29 | 2.33 |
| Net Debt / FCF Ratio | 12.30 | 4.67 | 3.99 | 3.48 | 3.15 | 4.96 |
| Asset Turnover | 0.67 | 0.79 | 0.75 | 0.79 | 0.79 | 0.70 |
| Inventory Turnover | 4.21 | 4.52 | 4.33 | 4.39 | 4.89 | 5.13 |
| Quick Ratio | 1.12 | 1.22 | 1.25 | 1.60 | 1.76 | 1.36 |
| Current Ratio | 1.82 | 1.94 | 1.92 | 2.30 | 2.40 | 2.49 |
| Return on Equity (ROE) | 13.37% | 18.56% | 16.12% | 21.00% | 25.50% | 23.21% |
| Return on Assets (ROA) | 3.57% | 5.83% | 5.39% | 6.37% | 6.57% | 5.68% |
| Return on Invested Capital (ROIC) | 7.31% | 12.77% | 12.14% | 15.49% | 16.43% | 13.96% |
| Return on Capital Employed (ROCE) | 5.30% | 11.30% | 10.50% | 12.50% | 13.70% | 11.20% |
| Earnings Yield | 4.22% | 5.19% | 4.37% | 7.54% | 8.27% | 2.17% |
| FCF Yield | 5.53% | 4.77% | 4.91% | 6.30% | 5.73% | 6.14% |
| Dividend Yield | 0.19% | 0.17% | 0.18% | 0.26% | 0.28% | 0.30% |
| Payout Ratio | 4.48% | 3.35% | 4.13% | 3.50% | 3.51% | 14.17% |
| Buyback Yield / Dilution | 2.51% | 2.64% | 3.64% | 3.77% | 1.82% | -0.94% |
| Total Shareholder Return | 2.70% | 2.81% | 3.82% | 4.02% | 2.10% | -0.64% |