Belden
BDC · Electronic Components
$104.15
0.7%Littelfuse
LFUS · Electronic Components
$351.39
0.3%The short version
- Belden is the larger business, with $2.7B of revenue in fiscal 2025 against $2.4B for Littelfuse.
- Belden grew revenue faster (10.3%, against 8.9%).
- Belden kept more of each dollar of sales as operating profit (11.6% operating margin, against 1.6% operating margin).
- Littelfuse turned more of its sales into free cash flow (15.3% FCF margin, against 8.1% FCF margin).
- Belden earned a higher return on the capital invested in it (13.3%, against 0.7%).
| Latest fiscal year | BDC · FY25 | LFUS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.1B | $8.9B |
| Revenue | $2.7B | $2.4B |
| Free cash flow | $219M | $366M |
| Net income | $238M | −$71.7M |
| Growth | ||
| Revenue growth | 10.3% | 8.9% |
| 5-year growth | 9.2% | 10.5% |
| Share count change | −2.6% | −0.9% |
| Profitability | ||
| Gross margin | 38.0% | 38.0% |
| Operating margin | 11.6% | 1.6% |
| Net margin | 8.8% | −3.0% |
| FCF margin | 8.1% | 15.3% |
| Return on capital | 13.3% | 0.7% |
| Return on equity | 18.6% | −3.0% |
| Balance sheet | ||
| Net debt | $906M | $239M |
| Net debt / EBITDA | 2.0x | 1.4x |
| Dividends and buybacks | $8.0M | $99.6M |
| Valuation & quality | ||
| P/E | 16.9x | — |
| Piotroski F-score | 8 | 6 |
FY16
BDC $2.4B
LFUS $1.1B
FY17
BDC $2.1B
LFUS $1.2B
FY18
BDC $2.2B
LFUS $1.7B
FY19
BDC $2.1B
LFUS $1.5B
FY20
BDC $1.8B
LFUS $1.4B
FY21
BDC $2.3B
LFUS $2.1B
FY22
BDC $2.6B
LFUS $2.5B
FY23
BDC $2.5B
LFUS $2.4B
FY24
BDC $2.5B
LFUS $2.2B
FY25
BDC $2.7B
LFUS $2.4B
BDC
LFUS
FY16
BDC 9.9%
LFUS 12.4%
FY17
BDC 11.2%
LFUS 17.9%
FY18
BDC 14.5%
LFUS 13.1%
FY19
BDC 9.7%
LFUS 12.8%
FY20
BDC 8.6%
LFUS 11.2%
FY21
BDC 11.5%
LFUS 18.5%
FY22
BDC 13.9%
LFUS 19.9%
FY23
BDC 12.6%
LFUS 15.3%
FY24
BDC 10.8%
LFUS 7.3%
FY25
BDC 11.6%
LFUS 1.6%
BDC
LFUS
FY16
BDC $261M
LFUS $134M
FY17
BDC $191M
LFUS $203M
FY18
BDC $191M
LFUS $257M
FY19
BDC $167M
LFUS $183M
FY20
BDC $83.2M
LFUS $202M
FY21
BDC $181M
LFUS $283M
FY22
BDC $176M
LFUS $315M
FY23
BDC $203M
LFUS $371M
FY24
BDC $223M
LFUS $292M
FY25
BDC $219M
LFUS $366M
BDC
LFUS
FY16
BDC 10.2%
LFUS 14.1%
FY17
BDC 10.0%
LFUS 12.9%
FY18
BDC 9.3%
LFUS 13.5%
FY19
BDC 6.7%
LFUS 9.7%
FY20
BDC 6.1%
LFUS 8.1%
FY21
BDC 12.8%
LFUS 17.5%
FY22
BDC 18.0%
LFUS 17.9%
FY23
BDC 15.8%
LFUS 10.5%
FY24
BDC 12.1%
LFUS 3.9%
FY25
BDC 13.3%
LFUS 0.7%
BDC
LFUS
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