Bel Fuse (BELFA) AI Stock Analysis

• Market Cap: $1.07B
• Dividend Yield: 0.31%
• Average Volume (3M): 8.68K
• Price to Earnings (P/E): 22.4
• Beta (1Y): 1.36
• Revenue Growth: -6.15%
• EPS Growth: -42.24%
• Country: US
• Employees: 5,370
• Sector: Technology
• Sector Strength: 78
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 1.35
• Shares Outstanding: 2,115,263
• 10 Day Avg. Volume: 18,686
• 30 Day Avg. Volume: 8,677
• PEG Ratio: 0.08
• Price to Book (P/B): 1.75
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 14.62
• Enterprise Value/Market Cap: 0.47
• Enterprise Value/Revenue: 0.23
• Enterprise Value/Gross Profit: 2.37
• Enterprise Value/Ebitda: 1.41
• 1Y Price Target: $115.00
• Price Target Upside: 46.93% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 72 Outperform
• Price Target: $84.00 ▲(7.32%Upside)

Bel Fuse Inc. shows solid financial performance with strong profitability and cash management. Technical indicators suggest caution due to overbought conditions. The recent earnings call reported strong growth in key segments, despite some challenges. The expanded credit facility further strengthens the company's position.

Bel Fuse Business Overview & Revenue Model

Company Description

Bel Fuse Inc. designs, manufactures, markets, and sells products that are used in the networking, telecommunication, high-speed data transmission, commercial aerospace, military, broadcasting, transportation, e-Mobility and broadcasting, and consumer electronic industries in the United States, Macao, the United Kingdom, Slovakia, Germany, Switzerland, and internationally. It offers magnetic products, such as integrated connector modules; power transformers; SMD power inductors and SMPS transformers; and ethernet discrete components. The company also provides power solutions and protection products comprising front-end power supplies; board-mount power; industrial power; external power; and circuit protection products. In addition, it offers connectivity solutions, which includes expanded beam fiber optic connectors, cable assemblies, and active optical devices; copper-based connectors/cable assemblies; radio frequency connectors, cable assemblies, microwave devices, and low loss cables; and ethernet, I/O, and industrial and power connectivity. The company sells its products under the Bel, TRP Connector, MagJack, Signal, Bel Power Solutions, Melcher, CUI, Stratos, Fibreco, Cinch, Johnson, Trompeter, Midwest Microwave, Semflex, and Stewart Connector brands through direct strategic account managers, regional sales managers working with independent sales representative organizations, and authorized distributors. Bel Fuse Inc. was incorporated in 1949 and is headquartered in Jersey City, New Jersey.

How the Company Makes Money

Bel Fuse Inc. generates revenue through the sale of its diverse portfolio of electronic components and solutions. The company's key revenue streams include the production and sale of power solutions like AC-DC and DC-DC converters, integrated connector modules, and power transformers. Additionally, Bel Fuse earns income from its circuit protection products, including fuses and fuse holders, and its connectivity solutions, such as RJ45 connectors, cable assemblies, and antennas. The company benefits from strategic partnerships and long-term contracts with OEMs (Original Equipment Manufacturers) and distributors across various industries, which contribute significantly to its earnings. Moreover, its focus on innovation and expanding its product lines to meet emerging technology demands further bolsters its revenue potential.

Bel Fuse Financial Statement Overview

Summary

Bel Fuse demonstrates solid financial health with strong profitability, a stable balance sheet, and effective cash management. However, revenue growth has slowed, and debt levels have increased, which are potential risks.

Income Statement

Bel Fuse has shown impressive revenue growth from 2020 to 2025. The TTM (Trailing-Twelve-Months) data indicates a gross profit margin of 38.1% and a net profit margin of 7.68%, suggesting strong profitability. While EBIT and EBITDA margins are healthy at 12.9% and 16.49% respectively, the revenue growth has slowed slightly in recent periods, which may indicate maturity in growth.

Balance Sheet

The company's balance sheet reflects a moderate debt-to-equity ratio of 0.67, indicating a balanced approach to leveraging. The return on equity is solid at 9.38%, showing efficient utilization of equity. The equity ratio of 48.68% points to a stable financial structure, though the increase in total debt over the years could be a potential risk if not managed well.

Cash Flow

Operating cash flow has been robust, with a TTM operating cash flow to net income ratio of 1.77. Free cash flow growth is positive, and the free cash flow to net income ratio of 1.45 demonstrates effective cash management. However, investing cash flows are significantly negative, which may require attention.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
558.94M	534.79M	639.81M	654.23M	543.49M	465.77M
	Gross Profit
213.10M	202.36M	215.85M	183.45M	134.38M	119.73M
	EBIT
72.10M	64.30M	87.98M	65.15M	8.63M	-793.00K
	EBITDA
92.21M	82.34M	99.46M	84.79M	42.19M	27.96M
	Net Income Common Stockholders
42.96M	40.96M	73.83M	52.69M	24.82M	12.79M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
66.88M	69.20M	126.92M	70.27M	61.76M	84.94M
	Total Assets
940.46M	949.79M	571.63M	560.47M	511.85M	453.87M
	Total Debt
305.89M	318.21M	82.59M	116.61M	134.05M	130.24M
	Net Debt
239.96M	249.96M	-6.79M	46.35M	72.29M	45.30M
	Total Liabilities
482.52M	508.63M	231.07M	298.12M	303.10M	268.07M
	Stockholders Equity
376.90M	360.58M	340.56M	262.35M	208.74M	185.80M
Cash Flow		Free Cash Flow
62.09M	59.96M	96.22M	31.43M	-4.76M	40.63M
	Operating Cash Flow
76.02M	74.06M	108.35M	40.26M	4.63M	46.11M
	Investing Cash Flow
-285.38M	-297.89M	-53.53M	-7.00M	-18.88M	-1.51M
	Financing Cash Flow
205.05M	206.26M	-38.60M	-21.26M	-8.40M	-32.14M

Bel Fuse Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 78.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BELFA, the sentiment is Positive. The current price of 78.27 is above the 20-day moving average (MA) of 68.04, above the 50-day MA of 66.24, and below the 200-day MA of 84.32, indicating a neutral trend. The MACD of 2.27 indicates Negative momentum. The RSI at 70.35 is Negative, neither overbought nor oversold. The STOCH value of 94.07 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BELFA.

Bel Fuse Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LYTS	75 Outperform	$483.37M	22.54	10.42%	1.24%	17.89%	-23.37%
CTS	74 Outperform	$1.23B	20.81	11.39%	0.39%	-2.76%	16.64%
BELFA	72 Outperform	$1.07B	22.38	11.87%	0.31%	-6.15%	-42.24%
VPG	69 Neutral	$342.70M	112.98	0.94%	―	-14.26%	-87.37%
FARO	66 Neutral	$816.92M	―	-0.34%	―	-4.76%	97.93%
Sector *	62 Neutral	$11.80B	10.08	-7.46%	2.99%	7.37%	-8.21%
MEI	51 Neutral	$314.44M	―	-11.90%	6.36%	-6.16%	-59.41%

Bel Fuse Corporate Events

Bel Fuse Appoints New Leadership Team at Annual Meeting

On May 27, 2025, Bel Fuse Inc. implemented its previously-announced management transitions during its Annual Meeting of Shareholders. Farouq Tuweiq was appointed as the new President and CEO, while Daniel Bernstein became the non-executive Chairman of the Board. Additionally, Lynn Hutkin took over as CFO. The Board was expanded to ten directors, and Tuweiq joined the Executive Committee. During the meeting, shareholders voted on several proposals, including the election of directors, ratification of the auditor, and approval of executive compensation, all of which were approved.

The most recent analyst rating on (BELFA) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on Bel Fuse stock, see the BELFA Stock Forecast page.

Bel Fuse Appoints New CFO Amid Leadership Changes

Bel Fuse Inc. announced the appointment of Lynn Hutkin as the new Chief Financial Officer, effective immediately after the 2025 Annual Meeting on May 27, 2025. This decision follows the elevation of the current CFO, Farouq Tuweiq, to the role of President and CEO. Hutkin, who has been with the company since 2007, will retain her role as principal accounting officer and has been instrumental in various strategic areas including investor relations and mergers. Her appointment is part of a broader leadership transition plan, which includes Tuweiq’s appointment to the board and executive committee, potentially impacting the company’s strategic direction and stakeholder interests.

The most recent analyst rating on (BELFA) stock is a Buy with a $115.00 price target. To see the full list of analyst forecasts on Bel Fuse stock, see the BELFA Stock Forecast page.

Bel Fuse Expands Credit Facility to $400 Million

On May 2, 2025, Bel Fuse Inc. amended its Credit Agreement, increasing its revolving credit facility from $325 million to $400 million and extending the commitment period to September 1, 2028. This amendment includes a $75 million incremental extension of credit, with new commitments from Wells Fargo Bank and existing lenders, positioning the company to enhance its financial flexibility and support its operational and strategic initiatives.

Bel Fuse Revises Incentive Awards for 2024

On March 12, 2025, Bel Fuse’s Board of Directors approved incentive awards for fiscal year 2024, recognizing the management team’s significant achievements despite not meeting certain performance metrics. The Compensation Committee identified flaws in the 2024 Incentive Program, which led to adjustments in the metrics and a more holistic approach for future compensation plans, ensuring alignment with shareholder interests and rewarding management’s efforts. This decision reflects Bel Fuse’s commitment to refining its incentive structure to better measure and reward company and individual performance.