BEL FUSE INC /NJ
BELFA· Nasdaq, Nasdaq· Electronic Coils, Transformers & Other Inductors
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 10.2%
- ROIC, 5 yr avg
- 16.1%
- Revenue, 5 yr CAGR
- +7.7%
We record prices for the companies we cover; BELFA is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- –
- Revenue
- $675.5M
- Free cash flow
- $68.6M
- Owner earnings
- $61.8M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 39.1%
- Operating
- 16.4%
- Net
- 9.1%
- Free cash flow
- 10.2%
- Owner earnings
- 9.1%
- Stock pay
- 1.0%
Returns
- ROIC, FY2025
- 15.3%
- ROIC, 5 yr avg
- 16.1%
- ROE, FY2025
- 14.5%
- ROE, 5 yr avg
- 15.9%
Growth (CAGR)
- Revenue, 3 yr
- 1.1%
- Revenue, 5 yr
- 7.7%
- Revenue, 9 yr
- 3.4%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- 29.7%
- Free cash flow, 5 yr
- 11.0%
- Free cash flow, 9 yr
- 9.5%
Financial health · FY2025
- Cash and investments
- $57.8M
- Total debt
- $197.5M
- Net debt
- $139.7M
- Debt/Equity
- 0.5x
- Debt/FCF
- 2.9x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 5.6%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- –
Financials: ten years from the 10-Ks
Revenue
$675.5M
+3.4% a year over 9 years
FY2016FY2025
Margins
Gross39.1%Operating16.4%Net9.1%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$68.6MOwner earnings$61.8M
Free cash flow +9.5% a year
FY2016FY2025
Return on invested capital
15.3%
FY2025
FY2016FY2025
Net debt (below zero)
-$139.7M
$139.7M more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $500.2M | $491.6M | $548.2M | $492.4M | $465.8M | $543.5M | $654.2M | $639.8M | $534.8M | $675.5M |
| Revenue growth | -11.8% | -1.7% | 11.5% | -10.2% | -5.4% | 16.7% | 20.4% | -2.2% | -16.4% | 26.3% |
| Gross margin | 20.0% | 20.8% | 25.4% | 22.3% | 25.7% | 24.7% | 28.0% | 33.7% | 37.8% | 39.1% |
| Operating margin | -15.3% | 3.5% | 4.9% | -0.3% | 4.0% | 5.8% | 10.0% | 13.8% | 12.0% | 16.4% |
| Net income | -$64.8M | -$11.9M | $20.7M | -$8.7M | $12.8M | $24.8M | $52.7M | $73.8M | $41.0M | $61.5M |
| Net margin | -13.0% | -2.4% | 3.8% | -1.8% | 2.7% | 4.6% | 8.1% | 11.5% | 7.7% | 9.1% |
| Diluted EPS | – | – | – | – | – | – | – | – | – | – |
| Return on invested capital? | – | – | 10.0% | – | – | 10.9% | 20.2% | 25.1% | 8.8% | 15.3% |
| Cash | ||||||||||
| Operating cash flow | $38.6M | $24.1M | $10.1M | $24.4M | $46.1M | $4.6M | $40.3M | $108.3M | $74.1M | $80.6M |
| Capital expenditure | $8.2M | $6.4M | $11.6M | $9.9M | $5.5M | $9.4M | $8.8M | $12.1M | $14.1M | $12.0M |
| Free cash flow | $30.4M | $17.7M | -$1.5M | $14.6M | $40.6M | -$4.8M | $31.4M | $96.2M | $60.0M | $68.6M |
| Stock-based compensation | $2.8M | $3.0M | $2.8M | $2.9M | $2.3M | $2.3M | $2.4M | $3.5M | $3.7M | $6.8M |
| Owner earnings? | $27.6M | $14.7M | -$4.3M | $11.7M | $38.3M | -$7.1M | $29.0M | $92.7M | $56.2M | $61.8M |
| Free cash flow per share | – | – | – | – | – | – | – | – | – | – |
| Capital allocation | ||||||||||
| Dividends paid | $3.2M | $3.3M | $3.3M | $3.4M | $3.4M | $3.4M | $3.4M | $3.5M | $3.5M | $3.5M |
| Share repurchases | – | – | – | $448.0K | $0 | $0 | $349.0K | $105.0K | $16.1M | $0 |
| Diluted shares | – | – | – | – | – | – | – | – | – | – |
| Share count change? | – | – | – | – | – | – | – | – | – | – |
| Balance sheet | ||||||||||
| Cash and equivalents | $73.4M | $69.4M | $53.9M | $72.3M | $84.9M | $61.8M | $70.3M | $89.4M | $68.3M | $57.8M |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $141.2M | $122.7M | $114.2M | $143.7M | $115.6M | $112.5M | $95.0M | $60.0M | $287.5M | $197.5M |
| Net debt | $67.8M | $53.3M | $60.3M | $71.4M | $30.6M | $50.7M | $24.7M | -$29.4M | $219.2M | $139.7M |
| Shareholders' equity | $158.4M | $158.0M | $176.5M | $168.1M | $185.8M | $208.7M | $262.3M | $340.6M | $360.6M | $425.5M |
Latest filings
| 2026-10-28 | 8-K | Earnings release |
| 2026-08-04 | 10-Q | Quarterly report |
| 2026-07-29 | 8-K | Earnings release |
| 2026-05-05 | 10-Q | Quarterly report |
| 2026-04-29 | 8-K | Earnings release |
| 2026-04-10 | DEF 14A | Proxy statement |
| 2026-04-06 | 8-K | Earnings release |
| 2026-02-24 | 10-K | Annual report |
| 2026-02-17 | 8-K | Earnings release |
| 2025-11-04 | 10-Q | Quarterly report |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
