Bel Fuse (BELFA) AI Stock Analysis

• Market Cap: $2.20B
• Dividend Yield: 0.15%
• Average Volume (3M): 24.50K
• Price to Earnings (P/E): 31.0
• Beta (1Y): 1.34
• Revenue Growth: 23.70%
• EPS Growth: 14.78%
• Country: US
• Employees: 5,370
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 2.09
• Shares Outstanding: 2,115,263
• 10 Day Avg. Volume: 41,410
• 30 Day Avg. Volume: 24,500
• PEG Ratio: -0.58
• Price to Book (P/B): 2.87
• Price to Sales (P/S): 1.93
• P/FCF Ratio: 17.26
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 2.67
• Enterprise Value/Gross Profit: 6.90
• Enterprise Value/Ebitda: 13.03
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: $156.00 ▼(-0.97% Downside)

Bel Fuse's overall stock score reflects strong financial performance and positive earnings call highlights, indicating robust growth and operational efficiency. However, high valuation metrics and recent corporate events, such as the impairment charge, pose risks. The technical analysis suggests bullish momentum, but caution is advised due to potential overbought conditions.

Positive Factors

Revenue Growth

The significant revenue growth across all segments indicates strong market demand and effective strategic focus, supporting long-term business expansion.

Margin Expansion

Improved margins reflect operational efficiencies and cost management, enhancing profitability and competitive positioning in the market.

Strategic Manufacturing Shift

The strategic shift to subcontractors in China aims to reduce costs and improve operational efficiency, supporting long-term profitability.

Negative Factors

Impairment Charge

The impairment charge reflects challenges in the e-Mobility sector, potentially impacting financial stability and future cash flows.

Rising Debt Levels

Higher debt levels can strain cash flow and limit financial flexibility, impacting long-term stability and growth potential.

Foreign Exchange and Wage Pressures

These pressures can erode profit margins and increase operational costs, challenging the company's ability to maintain profitability.

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 generates revenue through the sale of its core products in the Connectivity Solutions and Power Solutions segments. The company earns money by selling its magnetic components, power supplies, and other electronic devices to original equipment manufacturers (OEMs) and distributors worldwide. Key revenue streams include the production of custom and standard products that meet specific industry standards. Additionally, Bel Fuse benefits from long-term partnerships with major clients in sectors like telecommunications and military, which provide a steady stream of orders. The company also capitalizes on product innovation and expansion into emerging markets, enhancing its revenue potential.

Bel Fuse Financial Statement Overview

Summary

Bel Fuse shows strong revenue growth and profitability with efficient operations. However, the decline in free cash flow growth and rising debt levels are concerns that need addressing.

Income Statement

Bel Fuse has demonstrated strong revenue growth with a 9.32% increase in TTM, indicating a positive trajectory. The gross profit margin of 37.84% and net profit margin of 8.59% reflect solid profitability. The EBIT margin of 14.72% and EBITDA margin of 18.53% further highlight efficient operations. However, the company experienced a revenue decline in the previous year, which could pose a risk if not managed.

Balance Sheet

The company maintains a moderate debt-to-equity ratio of 0.68, suggesting a balanced approach to leveraging. The return on equity of 13.52% indicates effective use of equity to generate profits. The equity ratio stands at 100%, showing a strong equity base. However, the increase in total debt over the years could be a potential risk if not controlled.

Cash Flow

Bel Fuse's cash flow performance shows a decline in free cash flow growth by 7.14% in TTM, which is a concern. The operating cash flow to net income ratio of 0.52 and free cash flow to net income ratio of 0.74 suggest moderate cash flow efficiency. The company needs to focus on improving cash flow generation to support future growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	649.38M	534.79M	639.81M	654.23M	543.49M	465.77M
Gross Profit	251.25M	202.36M	215.85M	183.45M	134.38M	119.73M
EBITDA	133.10M	82.34M	99.46M	77.30M	47.73M	33.30M
Net Income	65.19M	40.96M	73.83M	52.69M	24.82M	12.79M
Balance Sheet
Total Assets	952.80M	949.79M	571.63M	560.47M	511.85M	453.87M
Cash, Cash Equivalents and Short-Term Investments	57.74M	69.20M	126.92M	70.27M	61.76M	84.94M
Total Debt	249.46M	318.21M	82.10M	118.67M	134.05M	130.24M
Total Liabilities	443.77M	508.63M	231.07M	298.12M	303.10M	268.07M
Stockholders Equity	427.76M	360.58M	340.56M	262.35M	208.74M	185.80M
Cash Flow
Free Cash Flow	44.61M	59.96M	96.22M	31.43M	-4.76M	40.63M
Operating Cash Flow	59.39M	74.06M	108.35M	40.26M	4.63M	46.11M
Investing Cash Flow	-298.16M	-297.89M	-53.53M	-7.00M	-18.88M	-1.51M
Financing Cash Flow	159.45M	206.26M	-38.60M	-21.26M	-8.40M	-32.14M

Bel Fuse Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 157.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 157.53 is above the 20-day moving average (MA) of 144.87, above the 50-day MA of 135.51, and above the 200-day MA of 101.26, indicating a bullish trend. The MACD of 6.28 indicates Negative momentum. The RSI at 64.32 is Neutral, neither overbought nor oversold. The STOCH value of 75.56 is Neutral, 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
BELFA	77 Outperform	$2.20B	30.99	16.40%	0.15%	23.70%	14.78%
CTS	73 Outperform	$1.28B	22.36	10.98%	0.36%	3.70%	1.68%
VICR	73 Outperform	$4.87B	59.69	13.89%	―	11.55%	1745.46%
BHE	72 Outperform	$1.59B	43.67	3.37%	1.44%	-2.93%	-40.33%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ROG	58 Neutral	$1.68B	-25.75	-5.34%	―	-4.87%	-235.48%
MEI	50 Neutral	$240.42M	-3.84	-8.87%	5.93%	-9.51%	29.57%

Bel Fuse Corporate Events

Bel Fuse Announces Impairment Charge on Innolectric Investment

On December 3, 2025, Bel Fuse Inc. announced an anticipated impairment charge of up to $14 million related to its noncontrolling minority investment in Innolectric AG, a Germany-based e-Mobility technology company. Despite Innolectric’s innovative offerings, the company faced challenges such as market exits, reduced government incentives, and a weak global EV sector, leading to operating losses and insolvency proceedings initiated on November 26, 2025. Bel decided against acquiring the remaining stake in Innolectric, anticipating reduced future cash outflows as a result of the potential exit from this investment.