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Belden Inc. (the Company, us, we, or our) is a leading global supplier of complete connection solutions that unlock untold possibilities for our customers, their customers and the world. We advance ideas and technologies that enable a safer, smarter and more prosperous future.
11.63% operating margin is respectable but not wide. ROIC at 10.95%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 10.3%, still solid.
Net debt of $1.02B represents 4.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$2.72B
▲ +10.3% YoY
Net Income (TTM)
$238M
▲ +19.7% YoY
Op. Margin
11.63%
▲ +0.8pp YoY
ROIC
10.95%
▲ +1.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$219M
▼ -1.9% YoY
Op. Cash Flow (TTM)
$355M
▲ +0.8% YoY
Net Debt
$1.02B
Cash & Equiv.
$390M
5Y CAGR: +9.2%
5Y CAGR: +21.3%
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