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Bel Fuse Inc (BELFB)
NASDAQ:BELFB
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Bel Fuse Inc
(NASDAQ:BELFB)
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Select Model
Rating:77Outperform
Price Target:
$159.00
▲(11.41% Upside)
Bel Fuse Inc. receives a strong overall score driven by robust financial performance and positive earnings call insights. The stock's technical indicators show bullish momentum, though overbought conditions suggest caution. Valuation metrics indicate the stock may be expensive, but the company's growth prospects and operational efficiency provide a solid foundation.
Positive Factors
Revenue Growth
The significant revenue growth indicates strong demand for Bel Fuse's products and effective market penetration, supporting long-term business expansion.
Operational Efficiency
Improved operational efficiency enhances profitability, providing a competitive edge and enabling reinvestment in growth opportunities.
Debt Management
Effective debt management strengthens the balance sheet, reducing financial risk and increasing the company's ability to invest in strategic initiatives.
Negative Factors
SG&A Expenses Increase
Rising SG&A expenses can pressure margins and reduce profitability, potentially limiting resources available for growth and innovation.
Gross Margin Decline in Power Segment
A decline in gross margin within a key segment may indicate pricing pressures or cost challenges, impacting overall profitability.
Impact of Trade Restrictions
Trade restrictions can disrupt supply chains and reduce sales, posing a risk to revenue stability and market competitiveness.
Bel Fuse Inc (BELFB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.75B
Dividend Yield0.2%
Average Volume (3M)120.78K
Price to Earnings (P/E)34.9
Beta (1Y)1.25
Revenue Growth6.08%
EPS Growth-23.58%
CountryUS
Employees5,370
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)1.67
Shares Outstanding10,548,254
10 Day Avg. Volume113,725
30 Day Avg. Volume120,776
Financial Highlights & Ratios
PEG Ratio-0.58
Price to Book (P/B)2.87
Price to Sales (P/S)1.93
P/FCF Ratio17.26
Enterprise Value/Market Cap0.86
Enterprise Value/Revenue2.54
Enterprise Value/Gross Profit6.71
Enterprise Value/Ebitda13.70
Forecast
1Y Price Target
$150.50Price Target Upside5.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Bel Fuse Inc Business Overview & Revenue Model
Company DescriptionBel Fuse Inc (BELFB) is a leading provider of electronic components that power and protect devices across a wide range of industries. The company operates in sectors including telecommunications, networking, computing, military, aerospace, and transportation. Bel Fuse offers a comprehensive portfolio of products, including power supplies, magnetics, connectors, and circuit protection devices, serving a diverse global customer base.
How the Company Makes MoneyBel Fuse Inc generates revenue through the design, manufacture, and sale of electronic components and solutions. The company's key revenue streams include sales from its product lines: power solutions, magnetics, connectors, and circuit protection devices. Bel Fuse's extensive global distribution network and strategic partnerships with original equipment manufacturers (OEMs) and contract manufacturers further enhance its market reach and sales potential. The company's earnings are significantly influenced by technological advancements, industry demand for electronic components, and its ability to innovate and meet customer requirements.
Bel Fuse Inc Earnings Call Summary
Earnings Call Date:Jul 24, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 22, 2025
Earnings Call Sentiment Positive
The earnings call reflected significant growth in revenue and sales across key segments, particularly in Power Solutions and Magnetic Solutions, indicating a positive trajectory. However, there were notable challenges, including declines in specific markets and increased expenses. Overall, the positive aspects, especially in terms of growth and operational efficiency, outweigh the lowlights.Q2-2025 Updates
Positive Updates
Revenue Growth
Sales for the second quarter of 2025 reached $168.3 million, reflecting an increase of 26.3% from the second quarter of 2024.
Strong Performance in Power Solutions
Sales of Power Solutions and Protection in Q2 2025 amounted to $86.8 million, representing an increase of 48.2% compared to the same period last year.
Connectivity Solutions Growth
Sales for Q2 2025 reached $59.2 million, an increase of 2.4% compared to Q2 2024. Sales for commercial air applications in Q2 2025 were $20.5 million, which represented an increase of $5.1 million or 33% from Q2 2024.
Magnetic Solutions Growth
Magnetic Solutions group recorded sales of $22.3 million, representing an increase of 32.5% compared to Q2 2024.
Operational Efficiency
Gross margin for the Connectivity Solutions group improved by 30 basis points from Q2 2024, largely due to operational efficiencies and favorable foreign exchange impacts.
Negative Updates
Decline in Consumer and Rail Markets
Sales decreased by $1.7 million in the consumer segment and $3.3 million in the rail end market in Q2 2025 compared to Q2 2024.
Gross Margin Decline in Power Segment
The gross margin for the Power segment in Q2 2025 was 41.9%, representing a decline of 380 basis points from Q2 2024.
Impact of Trade Restrictions
Sales decline primarily due to trade restriction imposed on one of our suppliers in China, affecting the consumer segment.
SG&A Expenses Increase
Selling, general and administrative expenses increased by $6.8 million in Q2 2025, driven by Enercon's SG&A expenses, annual compensation adjustments, and higher-than-anticipated medical claims.
Company Guidance
During the Bel Fuse Second Quarter 2025 Earnings Call, the company provided guidance for the third quarter, projecting sales in the range of $165 million to $180 million and gross margins between 37% and 39%. The company reported strong bookings in Q2, supporting expectations of sequential growth for the remainder of the year. In the second quarter of 2025, sales reached $168.3 million, reflecting a 26.3% increase from the previous year. The Power Solutions and Protection segment saw sales of $86.8 million, up 48.2% year-over-year, driven by aerospace and defense contributions. The Connectivity Solutions group recorded sales of $59.2 million, a 2.4% increase, while the Magnetics Solutions group saw a 32.5% increase in sales. The company ended the quarter with $59.3 million in cash and utilized $30 million for long-term debt repayment.Bel Fuse Inc Financial Statement Overview
Summary
Bel Fuse Inc. shows strong financial performance with improved profitability, efficient debt management, and robust cash flow generation. Despite slight revenue fluctuations, the company's solid balance sheet and cash flow management position it well within the industry.Income Statement
Bel Fuse Inc. demonstrates strong profitability with a consistent increase in gross profit margin from 29.2% in 2021 to 37.8% in TTM (Trailing-Twelve-Months). The EBIT margin improved significantly from 1.6% in 2021 to 13.2% in the TTM, reflecting enhanced operational efficiency. Net profit margin also saw a favorable rise from 4.6% in 2021 to 8.6% in the TTM. Though revenue dipped in 2023, the overall trend since 2020 shows a robust growth trajectory.85
Very Positive
Balance Sheet
The balance sheet reveals a well-capitalized structure with an equity ratio of 51.1% in the TTM, indicating strong financial health. The debt-to-equity ratio decreased from 0.64 in 2021 to 0.57 in the TTM, showcasing effective debt management. Return on equity improved from 11.9% in 2021 to 10.5% in the TTM, although slightly less than the previous year, still reflects a solid return for shareholders.78
Positive
Cash Flow
Bel Fuse Inc.'s cash flow statements indicate a positive free cash flow to net income ratio of 0.94 in the TTM, underscoring efficient cash generation capabilities. Operating cash flow to net income ratio stands at 1.26, reflecting strong cash flow management. Despite fluctuations in investing and financing cash flows, the company has maintained consistent free cash flow growth.82
Very Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 594.03M | 534.79M | 639.81M | 654.23M | 543.49M | 465.77M |
| Gross Profit | 224.79M | 202.36M | 215.85M | 183.45M | 134.38M | 119.73M |
| EBITDA | 110.05M | 82.34M | 99.46M | 84.79M | 42.19M | 27.96M |
| Net Income | 51.02M | 40.96M | 73.83M | 52.69M | 24.82M | 12.79M |
Balance Sheet | ||||||
| Total Assets | 950.58M | 949.79M | 571.63M | 560.47M | 511.85M | 453.87M |
| Cash, Cash Equivalents and Short-Term Investments | 59.28M | 69.20M | 126.92M | 70.27M | 61.76M | 84.94M |
| Total Debt | 275.07M | 318.21M | 82.59M | 116.61M | 134.05M | 130.24M |
| Total Liabilities | 464.87M | 508.63M | 231.07M | 298.12M | 303.10M | 268.07M |
| Stockholders Equity | 404.74M | 360.58M | 340.56M | 262.35M | 208.74M | 185.80M |
Cash Flow | ||||||
| Free Cash Flow | 48.04M | 59.96M | 96.22M | 31.43M | -4.76M | 40.63M |
| Operating Cash Flow | 64.54M | 74.06M | 108.35M | 40.26M | 4.63M | 46.11M |
| Investing Cash Flow | -273.62M | -297.89M | -53.53M | -7.00M | -18.88M | -1.51M |
| Financing Cash Flow | 182.27M | 206.26M | -38.60M | -21.26M | -8.40M | -32.14M |
Bel Fuse Inc Technical Analysis
Neutral
142.72
Price Trends
132.65
Positive
108.40
Positive
93.09
Positive
Market Momentum
3.72
Positive
53.11
Neutral
28.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BELFB, the sentiment is Neutral. The current price of 142.72 is below the 20-day moving average (MA) of 143.14, above the 50-day MA of 132.65, and above the 200-day MA of 93.09, indicating a neutral trend. The MACD of 3.72 indicates Positive momentum. The RSI at 53.11 is Neutral, neither overbought nor oversold. The STOCH value of 28.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BELFB.
Bel Fuse Inc Risk Analysis
Bel Fuse Inc disclosed 30 risk factors in its most recent earnings report. Bel Fuse Inc 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 Inc Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.75B | 34.94 | 13.40% | 0.20% | 6.08% | -23.58% | |
76 Outperform | 1.16B | 18.74 | 6.05% | 0.41% | 1.16% | 19.81% | |
76 Outperform | 1.76B | 29.39 | 12.60% | 0.20% | 6.08% | -23.93% | |
69 Neutral | 1.39B | 36.63 | 1.89% | 1.76% | -5.95% | -43.46% | |
62 Neutral | 1.45B | -22.69 | -5.37% | ― | -7.61% | -212.91% | |
54 Neutral | 267.65M | -4.95 | -7.93% | 6.45% | -4.91% | 61.77% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
Performance Comparison
BELFB
Bel Fuse Inc
142.72
64.48
82.41%
BHE
Benchmark Electronics
38.64
-5.13
-11.72%
CTS
CTS
39.32
-8.89
-18.44%
MEI
Methode Electronics
7.51
-3.75
-33.30%
ROG
Rogers
80.04
-32.97
-29.17%
BELFA
Bel Fuse
119.02
19.87
20.04%
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.