Belden (BDC) AI Stock Analysis

• Market Cap: $4.66B
• Dividend Yield: 0.17%
• Average Volume (3M): 269.07K
• Price to Earnings (P/E): 21.0
• Beta (1Y): 1.41
• Revenue Growth: 13.42%
• EPS Growth: 31.28%
• Country: US
• Employees: 7,500
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): 1.97
• Shares Outstanding: 39,300,210
• 10 Day Avg. Volume: 338,312
• 30 Day Avg. Volume: 269,069
• PEG Ratio: -1.53
• Price to Book (P/B): 3.54
• Price to Sales (P/S): 1.86
• P/FCF Ratio: 20.55
• Enterprise Value/Market Cap: 1.30
• Enterprise Value/Revenue: 2.28
• Enterprise Value/Gross Profit: 5.97
• Enterprise Value/Ebitda: 14.39
• 1Y Price Target: $130.97
• Price Target Upside: 10.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 7.42
• Revenue Forecast (FY): $2.69B

• Rating: 70 Outperform
• Price Target: $136.00 ▲(14.89% Upside)

Belden's overall stock score reflects strong financial performance and positive earnings call highlights, particularly in the Automation Solutions segment. However, technical indicators suggest caution due to potential overbought conditions, and valuation metrics indicate moderate attractiveness. The recent board appointment adds strategic value, but the decline in free cash flow growth remains a concern.

Positive Factors

Revenue Growth

The consistent revenue growth indicates a strong market position and effective strategies in expanding market reach, particularly in Automation Solutions.

Strategic Partnerships

This partnership enhances Belden's innovation capabilities, positioning it well in the growing AI market, which can drive long-term growth and competitive advantage.

Board Expertise

The addition of a board member with deep tech expertise can guide strategic initiatives, enhancing Belden's ability to navigate and capitalize on technological advancements.

Negative Factors

Decline in Free Cash Flow

A significant decline in free cash flow growth can limit Belden's ability to invest in new opportunities and manage debt, impacting long-term financial health.

Smart Infrastructure Solutions Challenges

Declining revenue in this segment suggests challenges in maintaining competitiveness and market demand, potentially affecting overall growth prospects.

Impact of Copper Prices and Tariffs

Fluctuating copper prices and tariffs can pressure margins, affecting profitability and requiring strategic adjustments to mitigate cost impacts.

Belden Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

Belden generates revenue primarily through the sale of its products and solutions in various sectors. The company has key revenue streams from its industrial solutions, which include cables and connectivity products used in manufacturing and automation systems, as well as from its enterprise solutions that cater to data centers and corporate networks. Additionally, Belden's broadcast solutions provide critical infrastructure for media and entertainment companies. The company benefits from strong partnerships with major players in different industries, enabling it to expand its market presence. Furthermore, Belden's focus on innovation and developing cutting-edge products helps to maintain its competitive edge, driving customer demand and sales growth.

Belden Financial Statement Overview

Summary

Belden demonstrates strong profitability and efficient operations, with a solid income statement and stable balance sheet. However, the decline in free cash flow growth is a concern, indicating potential cash flow risks.

Income Statement

Belden's income statement shows a strong gross profit margin of 56.72% in TTM, indicating efficient cost management. The net profit margin has improved to 8.57% from previous years, reflecting better profitability. Revenue growth is modest at 1.65% TTM, but it shows recovery from a decline in earlier periods. EBIT and EBITDA margins are stable, suggesting consistent operational performance.

Balance Sheet

The balance sheet reveals a debt-to-equity ratio of 1.11 in TTM, indicating moderate leverage. Return on Equity (ROE) is healthy at 18.26%, showcasing effective use of equity. The equity ratio stands at 36.89%, suggesting a balanced capital structure. However, the company should monitor its debt levels to maintain financial stability.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth by 85.3% TTM, which is a concern. However, the operating cash flow to net income ratio is 0.58, indicating decent cash generation relative to net income. The free cash flow to net income ratio is 0.58, suggesting that the company is generating adequate cash relative to its earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.66B	2.46B	2.51B	2.61B	2.30B	1.75B
Gross Profit	1.02B	922.22M	954.97M	916.29M	771.84M	575.62M
EBITDA	422.20M	381.99M	418.83M	449.69M	377.46M	258.41M
Net Income	228.02M	198.43M	242.76M	254.66M	63.92M	-55.16M
Balance Sheet
Total Assets	3.37B	3.33B	3.24B	3.16B	3.42B	3.14B
Cash, Cash Equivalents and Short-Term Investments	314.26M	370.30M	597.04M	687.68M	641.56M	501.99M
Total Debt	1.38B	1.25B	1.30B	1.24B	1.54B	1.63B
Total Liabilities	2.12B	2.03B	2.07B	2.02B	2.46B	2.38B
Stockholders Equity	1.24B	1.29B	1.17B	1.14B	955.29M	750.58M
Cash Flow
Free Cash Flow	213.82M	222.98M	202.91M	176.20M	181.07M	83.15M
Operating Cash Flow	369.19M	352.08M	319.64M	281.30M	272.06M	173.36M
Investing Cash Flow	-149.63M	-426.75M	-200.36M	168.41M	-92.00M	-31.64M
Financing Cash Flow	-229.28M	-143.72M	-211.93M	-393.21M	-32.93M	-74.91M

Belden Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 118.37
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDC, the sentiment is Neutral. The current price of 118.37 is below the 20-day moving average (MA) of 119.16, above the 50-day MA of 116.91, and above the 200-day MA of 114.98, indicating a neutral trend. The MACD of 0.67 indicates Positive momentum. The RSI at 50.47 is Neutral, neither overbought nor oversold. The STOCH value of 33.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BDC.

Belden Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DGII	77 Outperform	$1.66B	41.05	6.71%	―	1.46%	78.77%
VIAV	71 Outperform	$4.08B	276.94	2.13%	―	15.60%	―
BDC	70 Outperform	$4.66B	21.04	18.41%	0.17%	13.42%	31.28%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
COMM	60 Neutral	$4.01B	-145.50	―	―	9.86%	99.11%
EXTR	59 Neutral	$2.25B	265.83	17.08%	―	14.31%	―
PI	56 Neutral	$5.35B	-398.28	-7.49%	―	4.24%	-141.83%

Belden Corporate Events

Belden Appoints Adel Al-Saleh to Board of Directors

On November 19, 2025, Belden Inc. announced the appointment of Adel Al-Saleh to its Board of Directors, expanding the board from nine to ten members. Al-Saleh, with over 30 years of experience in the information technology sector, is expected to bring significant value to Belden with his expertise in leading technology transformations, as highlighted by Ashish Chand, President and CEO of Belden.