Belden (BDC)
Market Price (4/22/2026): $132.64 | Market Cap: $5.2 BilSector: Information Technology | Industry: Electronic Components
Belden (BDC)
Market Price (4/22/2026): $132.64Market Cap: $5.2 BilSector: Information TechnologyIndustry: Electronic Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 33% Megatrend and thematic driversMegatrends include Automation & Robotics, Artificial Intelligence, and 5G & Advanced Connectivity. Themes include Factory Automation, Show more. | Weak multi-year price returns3Y Excs Rtn is -5.0% | Key risksBDC key risks include [1] vulnerability from its substantial international operations and [2] intense competition driven by rapid technological change. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 33% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Artificial Intelligence, and 5G & Advanced Connectivity. Themes include Factory Automation, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -5.0% |
| Key risksBDC key risks include [1] vulnerability from its substantial international operations and [2] intense competition driven by rapid technological change. |
Qualitative Assessment
AI Analysis | Feedback
Belden (BDC) stock has gained about 15% since 12/31/2025 because of the following key factors:
1. Belden reported a strong beat on its Fourth Quarter and Full Year 2025 earnings.
On February 12, 2026, Belden announced Q4 2025 adjusted earnings per share (EPS) of $2.08, surpassing analysts' consensus estimates of $1.93 by $0.15. Quarterly revenue for Q4 2025 increased 8.1% year-over-year to $720.12 million, also exceeding analyst expectations of $696.97 million. For the full year 2025, the company achieved record revenue of $2.7 billion, up 10% year-over-year, and record adjusted EPS of $7.54, a 19% increase year-over-year. The company also provided a positive outlook for Q1 2026, with revenue guidance between $675 million and $690 million and adjusted EPS between $1.65 and $1.75, reflecting continued momentum.
2. Strategic realignment towards higher-value solutions drove performance.
Effective January 1, 2026, Belden transitioned to a unified, functional operating model aimed at accelerating its solutions transformation. The company's strong performance was particularly led by its Automation Solutions segment, which showed an 11% organic growth in Q4 2025. Management is focusing on prioritizing investments in edge, software, and cybersecurity solutions to enhance its solutions mix, which is seen as a key long-term driver for the company. Additionally, broadband fiber content within its offerings increased from 40% in 2024 to 50% in 2025, contributing to market share gains and differentiation.
Show more
1. Belden reported a strong beat on its Fourth Quarter and Full Year 2025 earnings.
On February 12, 2026, Belden announced Q4 2025 adjusted earnings per share (EPS) of $2.08, surpassing analysts' consensus estimates of $1.93 by $0.15. Quarterly revenue for Q4 2025 increased 8.1% year-over-year to $720.12 million, also exceeding analyst expectations of $696.97 million. For the full year 2025, the company achieved record revenue of $2.7 billion, up 10% year-over-year, and record adjusted EPS of $7.54, a 19% increase year-over-year. The company also provided a positive outlook for Q1 2026, with revenue guidance between $675 million and $690 million and adjusted EPS between $1.65 and $1.75, reflecting continued momentum.
2. Strategic realignment towards higher-value solutions drove performance.
Effective January 1, 2026, Belden transitioned to a unified, functional operating model aimed at accelerating its solutions transformation. The company's strong performance was particularly led by its Automation Solutions segment, which showed an 11% organic growth in Q4 2025. Management is focusing on prioritizing investments in edge, software, and cybersecurity solutions to enhance its solutions mix, which is seen as a key long-term driver for the company. Additionally, broadband fiber content within its offerings increased from 40% in 2024 to 50% in 2025, contributing to market share gains and differentiation.
Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 13.8% change in BDC stock from 12/31/2025 to 4/21/2026 was primarily driven by a 8.5% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 116.50 | 132.63 | 13.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,661 | 2,715 | 2.0% |
| Net Income Margin (%) | 8.6% | 8.7% | 2.1% |
| P/E Multiple | 20.2 | 21.9 | 8.5% |
| Shares Outstanding (Mil) | 40 | 39 | 0.7% |
| Cumulative Contribution | 13.8% |
Market Drivers
12/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| BDC | 13.8% | |
| Market (SPY) | -5.4% | 44.9% |
| Sector (XLK) | 7.4% | 41.9% |
Fundamental Drivers
The 10.4% change in BDC stock from 9/30/2025 to 4/21/2026 was primarily driven by a 3.8% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 120.17 | 132.63 | 10.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,618 | 2,715 | 3.7% |
| Net Income Margin (%) | 8.6% | 8.7% | 1.8% |
| P/E Multiple | 21.1 | 21.9 | 3.8% |
| Shares Outstanding (Mil) | 40 | 39 | 0.7% |
| Cumulative Contribution | 10.4% |
Market Drivers
9/30/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| BDC | 10.4% | |
| Market (SPY) | -2.9% | 46.4% |
| Sector (XLK) | 9.9% | 42.6% |
Fundamental Drivers
The 32.5% change in BDC stock from 3/31/2025 to 4/21/2026 was primarily driven by a 10.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.09 | 132.63 | 32.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,461 | 2,715 | 10.3% |
| Net Income Margin (%) | 8.1% | 8.7% | 8.5% |
| P/E Multiple | 20.3 | 21.9 | 7.8% |
| Shares Outstanding (Mil) | 40 | 39 | 2.7% |
| Cumulative Contribution | 32.5% |
Market Drivers
3/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| BDC | 32.5% | |
| Market (SPY) | 16.3% | 68.0% |
| Sector (XLK) | 50.5% | 63.7% |
Fundamental Drivers
The 53.8% change in BDC stock from 3/31/2023 to 4/21/2026 was primarily driven by a 51.0% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 86.26 | 132.63 | 53.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,606 | 2,715 | 4.2% |
| Net Income Margin (%) | 9.8% | 8.7% | -10.5% |
| P/E Multiple | 14.5 | 21.9 | 51.0% |
| Shares Outstanding (Mil) | 43 | 39 | 9.2% |
| Cumulative Contribution | 53.8% |
Market Drivers
3/31/2023 to 4/21/2026| Return | Correlation | |
|---|---|---|
| BDC | 53.8% | |
| Market (SPY) | 63.3% | 54.0% |
| Sector (XLK) | 108.9% | 50.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BDC Return | 57% | 10% | 8% | 46% | 4% | 13% | 219% |
| Peers Return | 36% | -1% | 32% | 29% | 61% | 34% | 390% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 89% |
Monthly Win Rates [3] | |||||||
| BDC Win Rate | 75% | 50% | 67% | 50% | 67% | 75% | |
| Peers Win Rate | 62% | 40% | 56% | 63% | 68% | 70% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BDC Max Drawdown | -3% | -26% | -13% | -7% | -23% | -5% | |
| Peers Max Drawdown | -4% | -21% | -6% | -4% | -21% | -6% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: APH, TEL, GLW, HUBB, NVT. See BDC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/21/2026 (YTD)
How Low Can It Go
| Event | BDC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -36.6% | -25.4% |
| % Gain to Breakeven | 57.9% | 34.1% |
| Time to Breakeven | 273 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.9% | -33.9% |
| % Gain to Breakeven | 99.6% | 51.3% |
| Time to Breakeven | 453 days | 148 days |
| 2018 Correction | ||
| % Loss | -55.5% | -19.8% |
| % Gain to Breakeven | 124.9% | 24.7% |
| Time to Breakeven | 1,507 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -85.8% | -56.8% |
| % Gain to Breakeven | 604.6% | 131.3% |
| Time to Breakeven | 1,606 days | 1,480 days |
Compare to APH, TEL, GLW, HUBB, NVT
In The Past
Belden's stock fell -36.6% during the 2022 Inflation Shock from a high on 7/18/2023. A -36.6% loss requires a 57.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Belden (BDC)
Belden Inc. provides portfolio of signal transmission solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber, and home and building automation. It also provides power, cooling, and airflow management products for mission-critical data center operations; and end-to-end copper and fiber network systems. This segment serves commercial real estate, hospitality, healthcare, education, financial, government, and broadband and wireless service providers, as well as end-markets, including sport venues, stadiums, data centers, military installations, and academia. The Industrial Solutions segment offers infrastructure components and on-machine connectivity systems; and industrial Ethernet switches, network management software, routers, firewalls, gateways, input/output (I/O) connectors/systems, industrial Ethernet cables, optical fiber industrial Ethernet cables, Fieldbus cables, IP and networking cables, I/O modules, distribution boxes, and customer specific wiring solutions. This segment provides its products for use in applications comprising network and fieldbus infrastructure; sensor and actuator connectivity; and power, control, and data transmission; and supplies heat-shrinkable tubing and wire management products to protect and organize wire and cable assemblies. It serves distributors, original equipment manufacturers, installers, and end-users. The company was formerly known as Belden CDT Inc. and changed its name to Belden Inc. in May 2007. Belden Inc. was founded in 1902 and is based in St. Louis, Missouri.
AI Analysis | Feedback
Belden is like:
- The Hubbell for digital and industrial communication infrastructure.
- The Intel Inside for the physical connectivity of networks and automation systems.
AI Analysis | Feedback
Belden (BDC) provides a portfolio of signal transmission solutions. Its major products include:
- Copper and Fiber Cables & Connectivity: A range of copper and fiber optic cables and associated connectivity components for enterprise and industrial applications.
- Network Infrastructure Hardware: Interconnect panels, racks, enclosures, signal extension and matrix switching systems, and industrial networking devices like switches, routers, and firewalls.
- Industrial Connectivity & I/O Systems: Infrastructure components, on-machine connectivity systems, I/O connectors, modules, and distribution boxes for industrial automation.
- Data Center Power & Thermal Management: Products for power, cooling, and airflow management critical for mission-critical data center operations.
- Network Management Software: Software solutions designed for the management and oversight of industrial networks.
- Wire Management & Protection Products: Heat-shrinkable tubing and other solutions to protect and organize wire and cable assemblies.
AI Analysis | Feedback
Belden Inc. (symbol: BDC) sells primarily to other companies and organizations rather than individuals. Based on the provided description, its major customer categories include:
- Original Equipment Manufacturers (OEMs): Companies that integrate Belden's infrastructure components and connectivity systems into their own products.
- Distributors and Installers: Businesses that resell, integrate, or implement Belden's signal transmission and network solutions into various projects and end-user environments.
- Broadband and Wireless Service Providers: Telecommunications and network companies that utilize Belden's infrastructure components and connectivity solutions for their network build-outs and operations.
- End-Users across diverse sectors: This broad category encompasses a wide range of organizations and institutions that directly deploy Belden's solutions for their own operational needs. These include sectors such as commercial real estate, hospitality, healthcare, education, financial services, government, data centers, industrial manufacturing, sport venues, stadiums, military installations, and academia.
AI Analysis | Feedback
nullAI Analysis | Feedback
Ashish Chand, President and Chief Executive Officer
Dr. Chand was appointed President and Chief Executive Officer of Belden Inc. in February 2023. He joined Belden in 2002 and previously served as the Company's Executive Vice President of Industrial Automation Solutions since July 2019 and Managing Director of Belden Asia Pacific from August 2017. Over his tenure, he has held various roles in sales, marketing, and operations across Asia and North America. Dr. Chand has been instrumental in developing and executing Belden's long-term growth agenda, solutions and product strategy, and go-to-market efforts, including establishing and growing Belden throughout the Asia Pacific region, setting up manufacturing in China and India. He holds a BA in Economics, an MBA, and a Doctorate of Business Administration.
Jeremy Parks, Executive Vice President – Chief Financial Officer
Mr. Parks was appointed Senior Vice President, Finance, and Chief Financial Officer on February 16, 2021. Prior to re-joining Belden in 2021, he served as the Chief Financial Officer of International Wire Corp. From 2008 through August 2020, Mr. Parks held various financial roles at Belden, including Vice President of Finance of the Company's Industrial Solutions segment. He holds a B.A. and M.A. in economics and an M.B.A.
Hiran Bhadra, Executive Vice President - Chief Innovation Officer
Hiran Bhadra joined Belden in March 2022, bringing over 20 years of experience in strategic planning, business and operation model design, and enterprise transformation. He has worked with major corporate clients on automation, digital transformation, IT/OT convergence, and 5G, and has held practice leadership roles at consultancies such as Accenture, KPMG, and Arthur Andersen.
Brad Dineley, Executive Vice President - Chief Digital and Operations Officer
Mr. Dineley has served as Executive Vice President – Chief Digital and Operations Officer since January 2026. Before joining Belden, he held operations leadership positions at TE Connectivity and the Schaeffler Group. Mr. Dineley holds a B.S. degree in Mechanical Engineering and an M.B.A.
Brian Lieser, Executive Vice President - Chief Commercial Officer
Mr. Lieser joined Belden in 2009. He most recently served as VP of Global Products of Automation Solutions, where he was responsible for product strategy, roadmap, and development, as well as domestic and international growth. Prior to this, he held various positions within Belden's Industrial Automation Solutions business, including VP of Industrial Network Solutions and VP of Industrial Connectivity Solutions. Earlier in his career, Mr. Lieser held positions at Rockwell Automation, Rosemount, and MTS Systems.
AI Analysis | Feedback
Here are the key risks to Belden Inc. (BDC):
- Competitive Market Pressures: Belden Inc. operates in a highly competitive environment within the connectivity solutions space. The company's market share typically ranges from approximately 5% to 15% across its various segments, indicating a fragmented landscape with numerous competitors. This intense competition necessitates continuous innovation and product differentiation for Belden to maintain and expand its market share.
- Supply Chain Vulnerabilities and Commodity Price Fluctuations: Belden's operations are susceptible to risks associated with supply chain disruptions, including extended lead times and volatile raw material prices, particularly for copper, a key component in many of its products. Such disruptions can hinder the company's ability to meet customer demand and negatively impact profitability. Furthermore, its international manufacturing footprint exposes it to potential geopolitical risks that could exacerbate supply chain strains.
- Global Economic Uncertainties: Belden's financial performance is sensitive to the volatility of global economic conditions. Factors such as changes in trade agreements, tariffs, broader financial market fluctuations, and shifts in customer purchasing behavior can affect the company's operational costs and sales volumes. Additionally, rising interest rates could increase the cost of capital, potentially impacting Belden's ability to pursue strategic initiatives.
AI Analysis | Feedback
Increased adoption of advanced wireless communication technologies (such as 5G and Wi-Fi 6/7 in enterprise environments, and various industrial wireless standards in manufacturing and automation) for local and on-machine connectivity. This trend could displace the need for extensive wired infrastructure, including copper and fiber cabling, industrial Ethernet, and Fieldbus systems, thereby reducing demand for Belden's core physical signal transmission solutions in various end-markets.
AI Analysis | Feedback
Belden (symbol: BDC) operates within several significant addressable markets for its signal transmission solutions:
- Data Center Infrastructure: The global data center infrastructure market was estimated at USD 68.2 billion in 2024 and is projected to grow to USD 234.8 billion by 2034. Another estimate places the global data center market at USD 269.79 billion in 2025, with a projection to reach USD 699.13 billion by 2034. Furthermore, the global data center infrastructure market spending reached USD 290 billion in 2024 and is on track to exceed USD 1 trillion by 2030.
- Data Center Structured Cabling: The global data center structured cabling market was valued at USD 11.3 billion in 2024 and is expected to grow to USD 20.1 billion by 2030. Another report indicates this market was valued at USD 8,805.28 million in 2024, with an anticipated growth to USD 15,448.88 million by 2033.
- Industrial Networking Solutions: The global industrial networking solution market is estimated to be USD 36.43 billion in 2025 and is expected to reach USD 134.47 billion by 2032.
- Industrial Connectivity: The global industrial connectivity market was estimated at USD 72.93 billion in 2024 and is projected to reach USD 123.19 billion by 2033. Another source valued the global industrial connectivity market at USD 78.58 billion in 2025, projected to grow to USD 129 billion by 2034.
- Industrial Ethernet: The global industrial Ethernet market was estimated at USD 12.30 billion in 2024 and is projected to reach USD 24.63 billion by 2033. Belden is noted as a key player in this market, which was valued at USD 11.15 billion in 2025.
- Industrial Ethernet Switches: The global industrial Ethernet switch market size was USD 3.09 billion in 2025 and is expected to reach USD 4.52 billion by 2030.
- Copper Wire and Cable: The global copper wire and cable market size was USD 172.15 billion in 2024 and is expected to increase to USD 267.53 billion by 2031. The global copper cable market is estimated at USD 17.47 billion in 2026 and is projected to reach USD 23.98 billion by 2035.
- Fiber Optic Cable: The global fiber optic cable market was valued at USD 13 billion in 2024 and is estimated to grow to USD 34.5 billion in 2034. Another report shows the global fiber optic cable market size as USD 13.45 billion in 2025, expected to reach USD 36.48 billion by 2034.
AI Analysis | Feedback
Belden Inc. (BDC) is expected to drive future revenue growth over the next two to three years through several strategic initiatives and favorable market trends:
- Accelerated Adoption of Solutions Offerings: Belden's ongoing "Solutions Transformation" strategy, which emphasizes delivering integrated, high-value systems rather than individual components, is a key driver. This shift is particularly evident in its Automation Solutions and Smart Infrastructure Solutions segments, with solutions wins comprising over 15% of total revenue in 2025. This strategy aims to improve operating and financial performance through growth in Belden Solutions.
- Robust Growth in Automation Solutions: The Automation Solutions segment is consistently highlighted as a strong performer, achieving significant organic revenue growth. This segment, which focuses on industrial connectivity, networking, and cybersecurity for sectors like manufacturing, energy, and transportation, is capitalizing on secular trends such as Industry 4.0 and industrial digitization.
- Capitalizing on Secular Market Trends: Belden is strategically positioned to benefit from broader market trends, including digitization, the convergence of Information Technology (IT) and Operational Technology (OT), and the enhanced efficiency gained through data analytics. These trends create sustained customer demand for Belden's offerings across its various end-markets.
- Rebound and Growth in Broadband & Telco: After a period of moderation, the Broadband & Telco segment anticipates stabilization and a rebound in 2026. This growth is expected to be driven by the adoption of new fiber products and the acceleration of DOCSIS deployments among major MSO (Multiple System Operator) customers.
AI Analysis | Feedback
Share Repurchases
- Belden repurchased 1.7 million shares for $195 million in 2025, with $145 million remaining on the existing repurchase authorization.
- In 2024, the company repurchased 1.3 million shares of its common stock for $132.9 million.
- Belden executed $192 million of share repurchases in 2023.
Share Issuance
- Belden's shares outstanding have shown a consistent decline from 2021 to 2025, indicating a net reduction in shares primarily due to repurchases.
- In 2024, proceeds from the issuance of common stock amounted to $8.9 million.
Outbound Investments
- In 2024, Belden acquired Precision Optical Technologies for $289.6 million and Voleatech GmbH for €5.0 million, expanding its capabilities in optical transceivers and firewall products.
- The company made acquisitions totaling $106.7 million in 2023, primarily for Sichert and Cloudrail, an IIoT connectivity solutions specialist.
- In February 2022, Belden completed the divestiture of its Tripwire cybersecurity business to HelpSystems for $350 million in cash.
Capital Expenditures
- Capital expenditures were $136 million in 2025 and $129 million in 2024.
- In 2023, capital expenditures amounted to $116.7 million.
- The primary focus of capital expenditures is on internal investments to advance organic growth opportunities and support the company's strategic solutions transformation, including IT/OT convergence and physical AI.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to BDC.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | PANW | Palo Alto Networks | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03312026 | ALKT | Alkami Technology | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | DBX | Dropbox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 2.6% | 2.6% | 0.0% |
| 03272026 | DLB | Dolby Laboratories | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 03272026 | PTC | PTC | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 11302023 | BDC | Belden | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 43.9% | 84.6% | 0.0% |
| 03312019 | BDC | Belden | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -1.2% | -31.6% | -47.8% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 158.69 |
| Mkt Cap | 50.3 |
| Rev LTM | 10,737 |
| Op Inc LTM | 1,748 |
| FCF LTM | 1,144 |
| FCF 3Y Avg | 900 |
| CFO LTM | 1,862 |
| CFO 3Y Avg | 1,590 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.7% |
| Rev Chg 3Y Avg | 4.9% |
| Rev Chg Q | 21.1% |
| QoQ Delta Rev Chg LTM | 4.8% |
| Op Inc Chg LTM | 19.5% |
| Op Inc Chg 3Y Avg | 24.8% |
| Op Mgn LTM | 17.9% |
| Op Mgn 3Y Avg | 17.8% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 17.4% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 12.3% |
| FCF/Rev 3Y Avg | 14.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 50.3 |
| P/S | 5.3 |
| P/Op Inc | 27.5 |
| P/EBIT | 27.8 |
| P/E | 33.6 |
| P/CFO | 31.4 |
| Total Yield | 3.8% |
| Dividend Yield | 0.6% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 19.1% |
| 3M Rtn | 16.0% |
| 6M Rtn | 24.7% |
| 12M Rtn | 116.1% |
| 3Y Rtn | 186.6% |
| 1M Excs Rtn | 10.5% |
| 3M Excs Rtn | 12.0% |
| 6M Excs Rtn | 19.6% |
| 12M Excs Rtn | 79.3% |
| 3Y Excs Rtn | 120.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automation Solutions | 1,317 | 1,389 | 1,408 | 1,227 | 990 |
| Smart Infrastructure Solutions | 1,144 | 1,123 | 1,198 | 1,074 | 872 |
| Total | 2,461 | 2,512 | 2,606 | 2,301 | 1,863 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Automation Solutions | 200 | 218 | 220 | 165 | 77 |
| Smart Infrastructure Solutions | 66 | 87 | 106 | 98 | 49 |
| Gain on sale of asset | 0 | 12 | 38 | ||
| Eliminations | -0 | -0 | -0 | -0 | -0 |
| Total | 266 | 318 | 363 | 264 | 125 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Goodwill | 1,019 | 907 | 862 | 821 | 1,252 |
| Automation Solutions | 783 | 727 | 677 | 600 | 523 |
| Smart Infrastructure Solutions | 664 | 637 | 594 | 563 | 463 |
| Intangible assets, less accumulated amortization | 419 | 269 | 247 | 238 | 287 |
| Cash and cash equivalents | 370 | 597 | 688 | 642 | 502 |
| Corporate assets | 57 | 86 | 79 | 72 | 84 |
| Deferred income taxes | 16 | 16 | 15 | 32 | 30 |
| Assets of discontinued operations | 0 | 449 | |||
| Total | 3,328 | 3,240 | 3,162 | 3,418 | 3,140 |
Price Behavior
Price Behavior
| Market Price | $132.63 | |
| Market Cap ($ Bil) | 5.2 | |
| First Trading Date | 11/24/1993 | |
| Distance from 52W High | -12.1% | |
| 50 Days | 200 Days | |
| DMA Price | $128.88 | $122.92 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 2.9% | 7.9% |
| 3M | 1YR | |
| Volatility | 41.7% | 33.4% |
| Downside Capture | 0.15 | 0.60 |
| Upside Capture | 159.18 | 134.28 |
| Correlation (SPY) | 43.5% | 53.5% |
BDC Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.38 | 1.59 | 1.45 | 1.26 | 1.35 | 1.33 |
| Up Beta | 2.84 | 3.51 | 2.98 | 1.72 | 1.37 | 1.28 |
| Down Beta | 2.48 | 0.92 | 0.84 | 1.18 | 1.27 | 1.19 |
| Up Capture | 157% | 185% | 174% | 119% | 161% | 273% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 10 | 23 | 34 | 64 | 131 | 400 |
| Down Capture | 255% | 128% | 126% | 118% | 125% | 109% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 12 | 19 | 29 | 62 | 121 | 349 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDC | |
|---|---|---|---|---|
| BDC | 41.5% | 33.4% | 1.08 | - |
| Sector ETF (XLK) | 61.4% | 20.8% | 2.20 | 50.0% |
| Equity (SPY) | 23.7% | 12.7% | 1.52 | 56.0% |
| Gold (GLD) | 41.4% | 27.5% | 1.25 | 1.9% |
| Commodities (DBC) | 22.4% | 16.2% | 1.25 | -4.0% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 36.7% |
| Bitcoin (BTCUSD) | -10.4% | 42.7% | -0.14 | 21.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDC | |
|---|---|---|---|---|
| BDC | 25.1% | 36.6% | 0.70 | - |
| Sector ETF (XLK) | 17.9% | 24.7% | 0.65 | 54.7% |
| Equity (SPY) | 10.8% | 17.1% | 0.49 | 58.8% |
| Gold (GLD) | 21.6% | 17.8% | 0.99 | 4.3% |
| Commodities (DBC) | 10.9% | 18.8% | 0.47 | 11.9% |
| Real Estate (VNQ) | 4.1% | 18.8% | 0.12 | 43.0% |
| Bitcoin (BTCUSD) | 3.8% | 56.4% | 0.29 | 25.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BDC | |
|---|---|---|---|---|
| BDC | 8.1% | 40.0% | 0.33 | - |
| Sector ETF (XLK) | 22.8% | 24.3% | 0.85 | 51.8% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 59.3% |
| Gold (GLD) | 13.7% | 15.9% | 0.71 | -0.6% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 19.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 44.4% |
| Bitcoin (BTCUSD) | 68.0% | 66.9% | 1.07 | 15.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 6.1% | 1.7% | -19.4% |
| 10/30/2025 | 2.4% | 0.8% | -5.4% |
| 7/31/2025 | -3.4% | -9.7% | 3.6% |
| 5/1/2025 | -1.7% | 1.9% | 3.0% |
| 2/6/2025 | -1.1% | -3.1% | -10.2% |
| 10/31/2024 | -3.2% | 11.7% | 4.0% |
| 8/1/2024 | 8.4% | -1.2% | 15.5% |
| 5/2/2024 | 9.3% | 12.5% | 17.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 16 | 16 |
| # Negative | 9 | 8 | 8 |
| Median Positive | 6.4% | 7.1% | 10.4% |
| Median Negative | -3.4% | -5.7% | -4.7% |
| Max Positive | 13.1% | 19.5% | 21.8% |
| Max Negative | -25.5% | -23.7% | -32.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/17/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/13/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 675.00 Mil | 682.50 Mil | 690.00 Mil | -1.8% | Lowered | Guidance: 695.00 Mil for Q4 2025 | |
| Q1 2026 GAAP EPS | 1.21 | 1.26 | 1.31 | -13.1% | Lowered | Guidance: 1.45 for Q4 2025 | |
| Q1 2026 Adjusted EPS | 1.65 | 1.7 | 1.75 | -12.8% | Lowered | Guidance: 1.95 for Q4 2025 | |
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 690.00 Mil | 695.00 Mil | 700.00 Mil | 2.6% | Raised | Guidance: 677.50 Mil for Q3 2025 | |
| Q4 2025 GAAP EPS | 1.4 | 1.45 | 1.5 | 5.1% | Raised | Guidance: 1.38 for Q3 2025 | |
| Q4 2025 Adjusted EPS | 1.9 | 1.95 | 2 | 2.6% | Raised | Guidance: 1.9 for Q3 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Klein, Jonathan C | Direct | Sell | 12122025 | 124.19 | 3,000 | 372,570 | 1,037,359 | Form | |
| 2 | Zink, Doug | VP and CAO | Direct | Sell | 12102025 | 125.00 | 4,000 | 500,000 | 580,250 | Form |
| 3 | Lieser, Brian | EVP, Solutions | Direct | Sell | 12082025 | 120.00 | 1,270 | 152,400 | 3,488,880 | Form |
| 4 | Bhadra, Hiran | SVP, Strategy & Technology | Direct | Sell | 12082025 | 120.00 | 1,600 | 192,000 | 3,134,280 | Form |
| 5 | Tate, Leah | SVP - HR | Direct | Sell | 12042025 | 120.00 | 2,554 | 306,480 | 3,340,200 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.