Is the business good?
How good a business is BDC?
Belden Inc. earns 11% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
11%
Return on invested capital · cost of capital 9.0% · 2.2 points above what the capital costs: growth creates value
- Operating margin
- 12%
Operating margin · Communication Equipment median 4.4% · 12 months to Q1 2026
- Cash conversion
- 0.76×
Cash conversion · 1.03× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −3.5%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 8.6% |
| FY2021 | 11% |
| FY2022 | 14% |
| FY2023 | 13% |
| FY2024 | 11% |
| FY2025 | 12% |
Details›
- Gross margin12 months to Q1 2026
- 37%
- Operating margin12 months to Q1 2026
- 12%
- Net margin12 months to Q1 2026
- 8.5%
- Free cash flow margin
- 6.5%
- R&D as % of revenue
- 4.7%
- Revenue, trailing twelve months
- $2.79B
- Free cash flow, trailing twelve months
- $180M
- Net income, trailing twelve months
- $237M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Communication Equipment
Ranks #18 of 21 by Smart Score