Bel Fuse Inc

Bel Fuse maintains a balanced capital structure with total assets of $935.2 million and total liabilities of $416.5 million. The debt-to-equity ratio stands at 0.46, indicating moderate leverage relative to shareholder equity of $425.5 million. Liquidity is assessed as medium risk, driven by cash and equivalents of $57.8 million against long-term debt of $197.5 million, resulting in a negative net cash position. Operating cash flow of $80.6 million supports capital expenditures of $12.0 million, providing free cash flow generation despite the net debt position.

Profitability metrics show a return on equity of 12.94% and a return on assets of 5.89%. The company generated gross profit of $264.4 million on revenue of $675.5 million, yielding a gross margin of approximately 39.1%. Operating income reached $111.0 million, translating to an operating margin of roughly 16.4%, while net income stood at $61.5 million. These returns reflect efficient asset utilization within the electronic components sector, though specific cohort median comparisons are unavailable for direct benchmarking.

Revenue concentration and geographic exposure details are not provided in the current dataset, limiting segment-level analysis. The company’s total revenue of $675.5 million serves as the baseline for performance evaluation. Without disclosed segment breakdowns, the analysis relies on aggregate financial performance to infer business health.

Growth trajectory analysis is constrained by the absence of historical period data. However, recent analyst estimates suggest expected growth, with mean revenue estimates of $784.5 million compared to the last actual revenue of $675.5 million. Mean EPS estimates of $8.60 exceed the last actual EPS of $7.10, indicating anticipated earnings expansion.

Risk assessment highlights medium liquidity risk and unknown dilution risk due to missing share count data. Key flags indicate that net cash is negative after subtracting total debt, and dilution risk could not be assessed. The absence of basic and diluted share counts prevents a comprehensive evaluation of potential equity dilution impacts.

Recent events include a sector contamination re-analysis via the sector classification direct path, audited on 2026-07-13, which corrected classification data. This administrative update ensures accurate industry alignment but does not directly impact operational performance. ESG scores show an overall rating of 30.72, with the social pillar scoring highest at 35.64.

Bel Fuse Inc (BELFA.O) experienced significant volatility in its institutional ownership structure, marked by major holder changes detected between late June and mid-July 2026. Specifically, investor ID 471 saw their position fluctuate dramatically, shifting from 34,785 shares to 308,048 shares and back again within a short window, while investor ID 929 similarly adjusted their holdings between 4,156 and 51,236 shares. These rapid reversals in share counts, valued at approximately $6.3 million and $10.1 million respectively at their peaks, indicate active trading or reporting adjustments by these specific entities during the period ending March 31, 2026. Despite the turbulence in specific holder positions, the broader ownership landscape remains stable, with the company maintaining a total of 35 top holders. The company’s corporate structure is lean, featuring only one officer, and it currently lacks coverage from any analysts or membership in major indices. This absence of analyst coverage and index inclusion suggests that the recent holder activity is driven by specific institutional strategies rather than broad market sentiment shifts or fundamental re-rating by the wider financial community. Concurrently, the company’s internal analytical framework underwent substantial revisions. The AI-driven narrative, business summary, and conclusion were all modified with low similarity scores to prior versions, indicating a significant shift in the qualitative assessment of the company. Additionally, the key takeaways section expanded by eight new points, suggesting that recent developments or data inputs have prompted a more detailed and potentially altered view of Bel Fuse’s operational or financial standing. The significance of these changes lies in the disconnect between the static public profile and the dynamic internal and ownership data. While the company remains outside the radar of major indices and analysts, the major holder changes and revised AI analysis suggest underlying activity that may not yet be reflected in broader market metrics. Investors should monitor whether these holder adjustments represent a strategic accumulation or distribution phase, especially given the lack of external analyst commentary to provide context for these movements.

Free cash flow surged 77.3% year-over-year to $85.2 million in FY2026, demonstrating exceptional cash generation capabilities.

Net income grew at a 25.5% CAGR over four years, outpacing the 5.6% revenue growth rate.

Cash conversion ratio of 1.46 ranks in the top quartile of the electronic equipment cohort.

Long-term debt spiked to $293.9 million in FY2025, a sharp increase from $62.0 million in FY2024.

Debt-to-equity ratio of 0.46 places the company in the bottom quartile of its peer cohort.

Revenue declined to $534.8 million in FY2025, marking a contraction from the $639.8 million recorded in FY2024.

The company faces a medium level of liquidity risk according to internal risk flag assessments.

Revenue $178.5M, +17,2% YoY; Operating income −5,4% YoY.

• ▍Revenue $178.5M, +17,2% YoY
• ▍Operating income −5,4% YoY
• ▍Net income −36,3% YoY
• ▍Free cash flow −15,2% YoY
• ▍Net margin 6.4%

Revenue $175.9M, +17,4% YoY; Operating income +108,3% YoY.

• ▍Revenue $175.9M, +17,4% YoY
• ▍Operating income +108,3% YoY
• ▍Net income −202,7% YoY
• ▍Free cash flow +75,4% YoY
• ▍Net margin -3.1%

Revenue $179.0M, +44,8% YoY; Operating income +165,0% YoY.

• ▍Revenue $179.0M, +44,8% YoY
• ▍Operating income +165,0% YoY
• ▍Net income +175,4% YoY
• ▍Free cash flow +264,4% YoY
• ▍Net margin 12.4%

Revenue $168.3M, +26,4% YoY; Operating income +32,0% YoY.

• ▍Revenue $168.3M, +26,4% YoY
• ▍Operating income +32,0% YoY
• ▍Net income +42,8% YoY
• ▍Free cash flow +42,8% YoY
• ▍Net margin 16.0%

Revenue $152.2M; Operating income $25.0M.

• ▍Revenue $152.2M
• ▍Operating income $25.0M
• ▍Net margin 11.7%

Revenue $149.9M; Operating income $12.4M.

• ▍Revenue $149.9M
• ▍Operating income $12.4M
• ▍Net margin -1.2%

Revenue $123.6M; Operating income $11.4M.

• ▍Revenue $123.6M
• ▍Operating income $11.4M
• ▍Net margin 6.5%

Revenue $133.2M; Operating income $22.6M.

• ▍Revenue $133.2M
• ▍Operating income $22.6M
• ▍Net margin 14.1%

Revenue $675.5M, +26,3% YoY; Operating income +72,6% YoY.

• ▍Revenue $675.5M, +26,3% YoY
• ▍Operating income +72,6% YoY
• ▍Net income +50,2% YoY
• ▍Free cash flow +77,2% YoY
• ▍Net margin 9.1%

Revenue $534.8M, −16,4% YoY; Operating income −26,9% YoY.

• ▍Revenue $534.8M, −16,4% YoY
• ▍Operating income −26,9% YoY
• ▍Net income −44,5% YoY
• ▍Free cash flow −32,8% YoY
• ▍Net margin 7.7%

Revenue $639.8M, −2,2% YoY; Operating income +35,0% YoY.

• ▍Revenue $639.8M, −2,2% YoY
• ▍Operating income +35,0% YoY
• ▍Net income +40,1% YoY
• ▍Free cash flow +29,2% YoY
• ▍Net margin 11.5%

Revenue $654.2M, +20,4% YoY; Operating income +108,4% YoY.

• ▍Revenue $654.2M, +20,4% YoY
• ▍Operating income +108,4% YoY
• ▍Net income +112,3% YoY
• ▍Free cash flow +91,5% YoY
• ▍Net margin 8.1%