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BDC

Belden Inc.

BDC

Belden Inc. • NYSE
$113.40 ▼ -0.31% (-0.35)
Market Cap $4.52 B
52w High $133.77
52w Low $83.18
Dividend Yield 0.20%
P/E 20.18
Volume 81.22K
Outstanding Shares 39.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $698.221M ▲ $186.91M ▲ $56.69M ▼ 8.119% ▼ $1.43 ▼ $109.377M ▼
Q2-2025 $671.992M ▲ $179.332M ▲ $61.006M ▲ 9.078% ▲ $1.54 ▲ $110.939M ▲
Q1-2025 $624.861M ▼ $173.214M ▼ $51.937M ▼ 8.312% ▼ $1.29 ▼ $101.969M ▲
Q4-2024 $666.042M ▲ $180.637M ▲ $58.384M ▲ 8.766% ▲ $1.45 ▲ $99.919M ▼
Q3-2024 $654.926M $168.655M $53.692M 8.198% $1.32 $106.706M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $314.257M ▲ $3.367B ▼ $2.125B ▼ $1.242B ▲
Q2-2025 $301.486M ▲ $3.4B ▲ $2.165B ▲ $1.234B ▲
Q1-2025 $258.997M ▼ $3.206B ▼ $1.984B ▼ $1.223B ▼
Q4-2024 $370.302M ▲ $3.328B ▼ $2.033B ▼ $1.295B ▲
Q3-2024 $322.982M $3.34B $2.105B $1.235B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $56.69M ▼ $105.006M ▲ $-39.802M ▼ $-54.164M ▼ $12.771M ▼ $65.325M ▲
Q2-2025 $61.006M ▲ $82.029M ▲ $-25.142M ▼ $-19.424M ▲ $42.489M ▲ $56.878M ▲
Q1-2025 $51.937M ▼ $7.441M ▼ $-24.178M ▲ $-96.784M ▼ $-111.305M ▼ $-24.761M ▼
Q4-2024 $58.382M ▼ $174.719M ▲ $-60.511M ▲ $-58.903M ▼ $47.32M ▲ $116.378M ▲
Q3-2024 $148.986M $91.677M $-320.584M $-17.418M $-241.769M $67.164M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Automation Solutions
Automation Solutions
 $650.00M ▲$350.00M ▼$370.00M ▲$380.00M ▲
Broadband And 5G
Broadband And 5G
 $0 ▲$150.00M ▲$160.00M ▲$0 ▼
Smart Buildings Solutions
Smart Buildings Solutions
 $0 ▲$130.00M ▲$150.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Belden’s revenues have grown meaningfully over the past five years, with a clear rebound from 2020 and a peak a couple of years ago. More recently, sales have eased a bit from that high, but remain comfortably above earlier levels. Profitability has improved much more dramatically than revenue: margins are stronger, operating profit is healthier, and the company has moved from losses to solid, recurring earnings. The slight step down in earnings from their recent peak suggests the environment is more mixed now, but overall the trend still points to a leaner, more profitable business than it was earlier in the decade.

Balance Sheet

Balance Sheet The balance sheet looks noticeably stronger than it did a few years ago. Total assets are steady, but the mix has improved: equity has risen, and debt has gradually moved down from earlier, heavier levels. This means Belden is now less financially stretched and has more of its capital funded by owners rather than lenders. Cash balances, however, have come down from their highs, likely reflecting investment, debt paydown, or shareholder returns. Overall, leverage appears moderate and heading in a better direction, but the company still carries a meaningful amount of debt that needs ongoing attention.

Cash Flow

Cash Flow Belden generates solid cash flow from its operations and has steadily improved this over the past five years. After funding capital spending, it consistently produces positive free cash flow, and that pool of surplus cash has grown over time. Capital spending is rising, but it remains well covered by cash generated from the business, suggesting investments are being made from a position of strength rather than strain. This combination gives Belden flexibility to keep investing in growth, manage its debt load, and potentially continue returning capital to shareholders without stretching its finances too thin.

Competitive Edge

Competitive Edge Competitively, Belden has moved from being primarily a cable and hardware maker to positioning itself as a full solutions provider for industrial networking and automation. Its reputation for reliability in harsh environments, long track record in industrial connectivity, and broad portfolio from physical cabling to software and services create meaningful barriers for new entrants. The focus on demanding use cases—factories, smart buildings, critical infrastructure—helps differentiate it from more generalist communication equipment peers. That said, it still operates in a competitive, cyclical market with strong rivals, so maintaining this edge depends on continuing to deepen customer relationships and execute on its solutions strategy.

Innovation and R&D

Innovation and R&D Innovation is a key pillar of Belden’s strategy. The company is investing in areas like advanced industrial Wi‑Fi, secure networking, specialized rugged cabling, and especially fiber connectivity, supported by its dedicated fiber technology center. It is also building out cybersecurity and network management tools to sit on top of its physical infrastructure. Customer Innovation Centers and a focus on co-developing solutions with clients reinforce its shift toward higher-value, integrated offerings. The main opportunity is to ride long-term trends in automation, data growth, and IT/OT convergence, but success will depend on how well Belden turns these technical capabilities into scalable, profitable solution platforms.

Summary

Belden today looks like a more profitable, better-balanced company than it was five years ago. Earnings quality has improved, free cash flow is robust, and leverage has eased, giving it more financial resilience. Strategically, it is leaning into higher-value, solutions-based offerings that build on its historic strengths in industrial connectivity and reliability, supported by ongoing innovation in fiber, wireless, and security. The key watch points are execution risk in this business model transition, exposure to industrial and infrastructure cycles, and the need to keep out-innovating capable competitors. Overall, the story is one of a traditional hardware player reshaping itself into a higher-margin, solutions-focused infrastructure partner, with both meaningful progress already made and important milestones still ahead.

NEWS

November 21, 2025 · 7:00 AM UTC

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November 20, 2025 · 4:05 PM UTC

Belden Declares Quarterly Dividend

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November 20, 2025 · 9:00 AM UTC

Belden Elevates Performance, Security and Reliability Across Industrial and Smart Environments with Product Innovations

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November 19, 2025 · 4:05 PM UTC

Belden Appoints Adel Al-Saleh to Board of Directors

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November 18, 2025 · 4:10 PM UTC

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