Is the business good?
How good a business is BHE?
Benchmark Electronics, Inc. earns 7.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
7.0%
Return on invested capital · cost of capital 9.0% · 2.0 points below what the capital costs: growth destroys value
- Operating margin
- 3.2%
Operating margin · Electronic Components median 9.6% · 12 months to Q1 2026
- Cash conversion
- 2.61×
Cash conversion · 2.79× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.90%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 1.2% |
| FY2021 | 2.4% |
| FY2022 | 3.1% |
| FY2023 | 3.9% |
| FY2024 | 4.1% |
| FY2025 | 2.9% |
Details›
- Gross margin12 months to Q1 2026
- 10%
- Operating margin12 months to Q1 2026
- 3.2%
- Net margin12 months to Q1 2026
- 1.3%
- Free cash flow margin
- 3.3%
- Revenue, trailing twelve months
- $2.70B
- Free cash flow, trailing twelve months
- $89M
- Net income, trailing twelve months
- $34M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 7.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electronic Components
Ranks #23 of 23 by Smart Score