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Bel Fuse
(NASDAQ:BELFA)
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Rating:70Outperform
Price Target:
$253.00
▲(58.68% Upside)
Action:Reiterated
Date:07/03/26
The score is driven primarily by strong financial quality (solid margins and consistently positive, growing free cash flow) and a positive earnings outlook with robust bookings and supportive Q2 guidance. Offsetting factors are weaker near-term technical trends (trading below key short-term averages) and a demanding valuation (high P/E) despite an attractive dividend yield.
Positive Factors
Strong cash generation
Consistent positive operating and free cash flow provides durable internal funding for capex, M&A and dividends. FCF tracking ~86% of net income signals high earnings quality and gives management flexibility to invest in growth, pay down debt or support shareholder returns over the medium term.
Negative Factors
Input cost and FX pressure
Persistent raw material inflation (gold, copper, PCBs), logistics cost increases and adverse currency moves can structurally compress margins if price actions lag or customers resist higher costs. Given global sourcing and exposure to RMB, MXN and shekel moves, margin recovery depends on sustained pricing and procurement improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent positive operating and free cash flow provides durable internal funding for capex, M&A and dividends. FCF tracking ~86% of net income signals high earnings quality and gives management flexibility to invest in growth, pay down debt or support shareholder returns over the medium term.
Read all positive factors
Bel Fuse Key Performance Indicators (KPIs)
Bel Fuse (BELFA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.72B
Dividend Yield0.15%
Average Volume (3M)202.91K
Price to Earnings (P/E)65.2
Beta (1Y)1.49
Revenue Growth25.54%
EPS Growth17.25%
CountryUS
Employees5,370
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)4.18
Shares Outstanding2,115,263
10 Day Avg. Volume210,563
30 Day Avg. Volume202,906
Financial Highlights & Ratios
PEG Ratio0.86
Price to Book (P/B)4.99
Price to Sales (P/S)3.15
P/FCF Ratio31.28
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue5.41
Enterprise Value/Gross Profit13.80
Enterprise Value/Ebitda29.50
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.54
Revenue Forecast (FY)$786.68M
Bel Fuse Business Overview & Revenue Model
Company Description
Bel Fuse Inc. specializes in the development, manufacturing, marketing, and distribution of electronic products that are integral to numerous industries. These sectors include data networking, telecommunications, high-speed data transmission, comm...
How the Company Makes Money
Bel Fuse makes money primarily by selling manufactured electronic components and subassemblies to original equipment manufacturers (OEMs) and electronics customers through direct sales and distribution channels. Its revenue is driven by product sa...
Bel Fuse Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operating picture: strong revenue growth (17.2% YoY), robust segment performance (ADRS +20.1% YoY), EBITDA expansion, healthy cash generation and an accretive acquisition (dataMate). Management also acknowledged near-term headwinds — higher material costs, unfavorable FX, SG&A increases and pockets of weakness in transportation/rail — but laid out clear mitigation levers (pricing, procurement, operational efficiency) and guided to a stronger Q2 with continued momentum into the back half of the year. Overall, highlights outweigh the lowlights and the tone is constructive with confidence in execution and growth drivers (defense, aerospace, data/AI).Positive Updates
Revenue Growth
Total sales of $178.5 million in Q1 FY2026, up 17.2% year-over-year, driven by broad-based demand across segments.
Negative Updates
Margin Pressure in ITDS
ITDS gross profit margin declined to 36.6% from 37.3% in Q1 FY2025 (down 70 basis points), primarily due to higher material costs (gold, copper, PCBs) and unfavorable foreign exchange (notably the Chinese renminbi).
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Total sales of $178.5 million in Q1 FY2026, up 17.2% year-over-year, driven by broad-based demand across segments.
Read all positive updates
Company Guidance
Management guided Q2 sales of $195–$215 million and gross margin of 38–40%, citing robust bookings as support; as context, Q1 revenue was $178.5M (+17.2% YoY) with a 39.0% gross margin (+40 bps), GAAP operating income $23.7M, adjusted EBITDA $34.5M, ADRS sales $99.8M (+20.1%, 41.5% margin), ITDS sales $78.7M (+13.8%, 36.6% margin), cash/securities $59.4M, operating cash flow $13.8M, and CapEx $2.6M; management expects R&D ≈$8M/quarter, SG&A ~$33–35M/quarter, noted higher input and FX pressures and ongoing pricing/procurement/operational actions to offset them, and closed the ~$16M dataMate deal (paid ~$15.2M) which adds ~ $18M of annual sales and is expected to be immediately accretive (partly funded by $7M net borrowings).Bel Fuse Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 701.71M | 675.46M | 534.79M | 639.81M | 654.23M | 543.49M |
| Gross Profit | 275.20M | 264.42M | 202.36M | 215.85M | 183.45M | 134.38M |
| EBITDA | 128.72M | 136.39M | 82.34M | 99.46M | 77.30M | 47.73M |
| Net Income | 55.04M | 61.54M | 40.96M | 73.83M | 52.69M | 24.82M |
Balance Sheet | ||||||
| Total Assets | 951.92M | 935.20M | 949.79M | 571.63M | 560.47M | 511.85M |
| Cash, Cash Equivalents and Short-Term Investments | 59.45M | 57.80M | 69.20M | 126.92M | 70.27M | 61.76M |
| Total Debt | 226.15M | 221.40M | 318.21M | 82.10M | 118.67M | 134.05M |
| Total Liabilities | 416.21M | 416.53M | 508.63M | 231.07M | 298.12M | 303.10M |
| Stockholders Equity | 438.94M | 425.51M | 360.58M | 340.56M | 262.35M | 208.74M |
Cash Flow | ||||||
| Free Cash Flow | 74.44M | 67.93M | 59.96M | 96.22M | 31.43M | -4.76M |
| Operating Cash Flow | 86.29M | 79.93M | 74.06M | 108.35M | 40.26M | 4.63M |
| Investing Cash Flow | -18.05M | -3.25M | -297.89M | -53.53M | -7.00M | -18.88M |
| Financing Cash Flow | -79.66M | -93.47M | 206.26M | -38.60M | -21.26M | -8.40M |
Bel Fuse Technical Analysis
Neutral
159.44
Price Trends
250.10
Negative
228.05
Positive
188.43
Positive
Market Momentum
-5.56
Positive
42.70
Neutral
16.78
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BELFA, the sentiment is Neutral. The current price of 159.44 is below the 20-day moving average (MA) of 255.24, below the 50-day MA of 250.10, and below the 200-day MA of 188.43, indicating a neutral trend. The MACD of -5.56 indicates Positive momentum. The RSI at 42.70 is Neutral, neither overbought nor oversold. The STOCH value of 16.78 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BELFA.
Bel Fuse Risk Analysis
Bel Fuse disclosed 29 risk factors in its most recent earnings report. Bel Fuse reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bel Fuse Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $12.65B | 90.85 | 20.22% | ― | 15.59% | 491.65% | |
74 Outperform | $1.74B | 25.64 | 12.53% | 0.36% | 7.80% | 18.75% | |
70 Outperform | $3.72B | 65.19 | 12.97% | 0.15% | 25.54% | 17.25% | |
64 Neutral | $3.06B | 89.26 | 3.10% | 1.44% | 3.53% | -34.92% | |
64 Neutral | $2.48B | -45.94 | -4.66% | ― | 1.68% | -431.99% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $555.13M | ― | -9.42% | 5.93% | -2.76% | 42.91% |
* Technology Sector Average
BELFA
Bel Fuse
229.55
138.09
151.00%
BHE
Benchmark Electronics
85.06
46.02
117.85%
CTS
CTS
60.14
18.71
45.16%
MEI
Methode Electronics
15.80
9.29
142.67%
ROG
Rogers
137.52
69.70
102.77%
VICR
Vicor
272.05
225.89
489.36%
Bel Fuse Corporate Events
Business Operations and StrategyExecutive/Board Changes
Bel Fuse boosts executive pay with equity-focused incentives
Positive
Jul 2, 2026
Bel Fuse, Inc. operates in the electronics industry, supplying power, protection, and interconnect products that serve telecom, networking, industrial, and other electronic markets. The company’s leadership, including its President and Chief...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Bel Fuse shareholders back board, reject share conversion plan
Positive
May 28, 2026
Bel Fuse Inc., which reorganized into Aerospace, Defense Rugged Solutions and Industrial Technology Data Solutions (ITDS) segments effective the first quarter of 2026, continued its strategic realignment by appointing Kenneth Lai as Senior Vice ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Bel Fuse Announces Follow-On Class B Share Offering
Positive
May 14, 2026
On May 13, 2026, Bel Fuse Inc. entered into an underwriting agreement for a follow-on public offering of 1,500,000 shares of its Class B common stock at $266.00 per share, with underwriters holding a 30-day option to purchase up to an additional 2...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Bel Fuse realigns segments toward aerospace and industrial markets
Positive
May 12, 2026
Bel Fuse Inc. disclosed that, effective in the first quarter of 2026, it realigned its internal organization and reportable segments to better match customer end markets, moving to two segments: Aerospace, Defense Rugged Solutions, and Industrial...
Business Operations and StrategyExecutive/Board Changes
Bel Fuse realigns into two focused business units
Positive
Apr 6, 2026
On March 31, 2026, Bel Fuse Inc. announced a strategic realignment from a product-centric to an end-market-centric structure, consolidating its operations into two business units: Aerospace, Defense Rugged Solutions and Industrial Technology Dat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.