Want to see BHE full AI Analyst Report?
Top Page
Benchmark Electronics
(NYSE:BHE)
Select Model
Select Model
Rating:68Neutral
Price Target:
$81.00
▼(-0.12% Downside)
Action:Reiterated
Date:07/30/26
The score is primarily supported by improving financial quality (sharp debt reduction and stronger free cash flow) and a bullish earnings update (raised full-year guidance, solid growth and margin outlook). Offsetting these positives are weak near-term technicals (below 20/50-day averages) and a stretched valuation (P/E ~80) with only a modest dividend yield.
Positive Factors
Balance Sheet Improvement
A materially lower debt load and improved debt-to-equity provide durable financial flexibility. This reduces refinancing risk, supports capacity investment and dividends, and strengthens the company's ability to fund growth or weather cyclical downturns without forcing distressed asset sales.
Negative Factors
Thin and Volatile Profitability
Very slim net margins limit the firm's ability to convert revenue growth into meaningful returns. Low profitability reduces cushioning against input cost increases, amplifies sensitivity to program timing, and constrains long-term ROE and free cash flow expansion despite revenue gains.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Improvement
A materially lower debt load and improved debt-to-equity provide durable financial flexibility. This reduces refinancing risk, supports capacity investment and dividends, and strengthens the company's ability to fund growth or weather cyclical downturns without forcing distressed asset sales.
Read all positive factors
Benchmark Electronics Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down sales across regions to show where customer demand and the company’s manufacturing footprint are concentrated. Heavy reliance on one region increases exposure to local economic slowdowns, tariffs, currency moves and supply-chain disruptions, while growth in new regions signals diversification and market expansion potential.
Breaks down sales across regions to show where customer demand and the company’s manufacturing footprint are concentrated. Heavy reliance on one region increases exposure to local economic slowdowns, tariffs, currency moves and supply-chain disruptions, while growth in new regions signals diversification and market expansion potential.
Data provided by:
The Fly
The FlyBenchmark Electronics (BHE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.66B
Dividend Yield0.86%
Average Volume (3M)513.51K
Price to Earnings (P/E)80.4
Beta (1Y)1.35
Revenue Growth8.87%
EPS Growth39.10%
CountryUS
Employees11,840
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)1.48
Shares Outstanding35,919,933
10 Day Avg. Volume433,182
30 Day Avg. Volume513,507
Financial Highlights & Ratios
PEG Ratio-1.02
Price to Book (P/B)1.39
Price to Sales (P/S)0.58
P/FCF Ratio17.96
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$91.00Price Target Upside12.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.76
Revenue Forecast (FY)$2.91B
Benchmark Electronics Business Overview & Revenue Model
Company Description
Benchmark Electronics, Inc., together with its subsidiaries, operates as a global provider, delivering a comprehensive suite of product design, engineering, technology solutions, and manufacturing services across the Americas, Asia, and Europe. It...
How the Company Makes Money
Benchmark primarily makes money by providing outsourced manufacturing and related engineering services to OEM customers and recognizing revenue when it delivers manufactured products and services under customer contracts. Key revenue streams typic...
Benchmark Electronics Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call highlighted strong execution and broad-based demand, with double-digit revenue growth, margin expansion, record/strong bookings, an upgraded full-year revenue outlook to $3.0 billion, and improving cash conversion. Challenges include a decline in Aerospace & Defense revenue due to program timing, supply chain lead-time pressure (notably memory and complex parts), some one-time effects in Industrial, and higher variable compensation that partially offset margin gains. Overall, the positives around growth, bookings, margins, balance sheet strength and capacity expansion substantially outweigh the identified challenges.Positive Updates
Revenue and EPS Outperformance
Revenue of $756 million in Q2, up 18% year-over-year, and non-GAAP EPS of $0.75, up 36% year-over-year — both above the high end of prior guidance.
Negative Updates
Aerospace & Defense Revenue Weakness
A&D revenue was down 12% year-over-year and 7% sequentially due to program timing and transitions; management expects 2026 A&D revenue roughly flat with prior year and recovery in 2027.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and EPS Outperformance
Revenue of $756 million in Q2, up 18% year-over-year, and non-GAAP EPS of $0.75, up 36% year-over-year — both above the high end of prior guidance.
Read all positive updates
Company Guidance
Benchmark guided Q3 2026 revenue of $755M–$795M (midpoint ~14% YoY) with non‑GAAP diluted EPS of $0.76–$0.82, non‑GAAP gross margin of 10.5%–10.7% and non‑GAAP operating margin of 5.3%–5.5%; assumptions include ~36.4M weighted average diluted shares, an effective tax rate of 26%–27%, interest/other expense of ~ $3M, GAAP charges of about $8.4M stock‑based compensation and $3.5M–$4M of non‑operating items. For the full year the company raised 2026 revenue guidance to $3.0B (~13% growth), expects capital expenditures of ~2%–2.5% of revenue, intends to grow operating income and EPS at 1.5x–2x the pace of revenue, and cited a strong balance sheet and working capital position (Q2 cash $315M, cash net of debt $134M, >$0.5B borrowing capacity, operating cash flow $35M, free cash flow $22M, cash conversion cycle 59 days, inventory turns ~5) to support capacity builds in Penang and Thailand.Benchmark Electronics Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.82B | 2.66B | 2.66B | 2.84B | 2.89B | 2.26B |
| Gross Profit | 288.33M | 264.95M | 270.02M | 271.07M | 255.24M | 205.90M |
| EBITDA | 143.11M | 128.56M | 156.96M | 158.50M | 141.49M | 98.03M |
| Net Income | 53.14M | 24.85M | 63.33M | 64.31M | 68.23M | 35.77M |
Balance Sheet | ||||||
| Total Assets | 2.21B | 2.07B | 2.14B | 2.27B | 2.23B | 1.90B |
| Cash, Cash Equivalents and Short-Term Investments | 314.84M | 322.40M | 315.15M | 277.39M | 207.43M | 271.75M |
| Total Debt | 277.31M | 407.95M | 366.19M | 454.34M | 411.64M | 221.15M |
| Total Liabilities | 1.10B | 971.91M | 1.03B | 1.20B | 1.20B | 930.08M |
| Stockholders Equity | 1.12B | 1.10B | 1.11B | 1.08B | 1.03B | 973.80M |
Cash Flow | ||||||
| Free Cash Flow | 126.12M | 85.42M | 155.97M | 96.56M | -220.82M | -44.80M |
| Operating Cash Flow | 176.99M | 123.96M | 189.22M | 174.29M | -177.47M | -2.62M |
| Investing Cash Flow | -45.38M | -32.70M | -32.77M | -77.14M | -41.17M | -41.88M |
| Financing Cash Flow | -76.64M | -105.90M | -109.11M | -23.58M | 159.23M | -73.95M |
Benchmark Electronics Technical Analysis
Neutral
81.10
Price Trends
85.79
Negative
75.99
Positive
61.88
Positive
Market Momentum
-1.53
Positive
44.52
Neutral
77.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BHE, the sentiment is Neutral. The current price of 81.1 is below the 20-day moving average (MA) of 81.54, below the 50-day MA of 85.79, and above the 200-day MA of 61.88, indicating a neutral trend. The MACD of -1.53 indicates Positive momentum. The RSI at 44.52 is Neutral, neither overbought nor oversold. The STOCH value of 77.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BHE.
Benchmark Electronics Risk Analysis
Benchmark Electronics disclosed 35 risk factors in its most recent earnings report. Benchmark Electronics reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Benchmark Electronics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $30.09B | 37.40 | 62.42% | 0.10% | 17.80% | 55.75% | |
68 Neutral | $2.66B | 80.39 | 3.85% | 0.84% | 8.87% | 39.10% | |
63 Neutral | $8.78B | 30.25 | 10.88% | ― | 58.56% | 19.37% | |
62 Neutral | $37.75B | 48.62 | 18.71% | ― | 12.25% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $6.69B | 137.44 | 3.18% | 1.05% | -3.37% | -59.55% | |
61 Neutral | $10.57B | 57.51 | 11.26% | ― | 23.10% | 146.72% |
* Technology Sector Average
BHE
Benchmark Electronics
79.77
42.56
114.38%
FLEX
Flex
113.75
64.23
129.71%
JBL
Jabil
315.05
96.78
44.34%
SANM
Sanmina-Sci
185.56
74.60
67.23%
ST
Sensata
46.29
16.77
56.79%
TTMI
TTM Technologies
115.44
72.10
166.36%
Benchmark Electronics Corporate Events
Dividends
Benchmark Electronics Announces Second-Quarter 2026 Cash Dividend
Positive
Jun 8, 2026
Benchmark Electronics, Inc., a global provider of engineering design and manufacturing services for industries ranging from advanced computing and communications to aerospace, defense, medical, industrial, and semiconductor capital equipment, oper...
Executive/Board ChangesShareholder Meetings
Benchmark Electronics Shareholders Back Board, Pay and Incentives
Positive
May 29, 2026
At its annual meeting held on May 28, 2026, Benchmark Electronics’ shareholders elected all nine nominees to the board of directors to serve until the 2027 annual meeting, with each director receiving strong majority support across the vote ...
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.