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Belden Inc. provides connection solutions to bring data infrastructure into alignment to unlock new possibilities for its customers. The company provides copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in local area networks, data centers, access control, 5G, fiber to the home, and building automation applications. It also provides power, cooling, and airflow management products for mission-critical data center operations; and end-to-end fiber and copper network systems. It also serves commercial real estate, education, financial institutions, stadiums and venues, military installations, and broadband and wireless service providers, as well as data centers, government, healthcare, and hospitality sectors. In addition, the company offers network digitization and automation solutions; and products and solutions covering various aspects of data handling, including acquisition, transmission, orchestration, and management for applications in discrete automation, process automation, energy, and mass transit. It sells its products to distributors, end-users, installers, and original equipment manufacturers (OEMs). It operates in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company was formerly known as Belden CDT Inc. and changed its name to Belden Inc. in May 2007. Belden Inc. was founded in 1902 and is headquartered in Saint Louis, Missouri.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.7B | $443M | $238M | $219M | 18.8% | 10.3% | 19.7% |
| 2024 | $2.5B | $382M | $198M | $223M | 15.3% | -2.0% | -18.3% |
| 2023 | $2.5B | $419M | $243M | $203M | 20.8% | -3.6% | -4.7% |
| 2022 | $2.6B | $450M | $255M | $176M | 22.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,606.49 | 2,512.08 | 2,460.98 | 2,715.19 |
| Cost Of Revenue | 1,690.20 | 1,557.12 | 1,538.76 | 1,684.02 |
| Gross Profit | 916.29 | 954.97 | 922.22 | 1,031.17 |
| Operating Expense | 590.85 | 649.50 | 655.76 | 715.48 |
| Operating Income | 325.44 | 305.46 | 266.46 | 315.69 |
| EBITDA | 449.69 | 418.83 | 381.99 | 442.65 |
| EBIT | 360.95 | 319.38 | 266.25 | 313.22 |
| Pretax Income | 317.39 | 285.76 | 227.94 | 0 |
| Tax Provision | 49.65 | 43.20 | 29.53 | 29.34 |
| Net Income | 254.66 | 242.76 | 198.43 | 237.52 |
| Net Income Common Stockholders | 254.66 | 242.76 | 198.43 | 237.52 |
| Total Expenses | 2,281.04 | 2,206.62 | 2,194.52 | 2,399.50 |
| Interest Expense | 43.55 | 33.62 | 38.30 | 46.35 |
| Research And Development | 104.35 | 116.43 | 112.36 | 128.76 |
| Selling General And Administration | 448.64 | 492.70 | 494.60 | 533.37 |
| Normalized EBITDA | 418.19 | 406.77 | 381.99 | 442.65 |
| Normalized Income | 241 | 232.52 | 198.43 | 237.52 |
| Basic EPS | 5.81 | 5.75 | 4.88 | 0 |
| Diluted EPS | 5.72 | 5.66 | 4.80 | 0 |
| Tax Effect Of Unusual Items | 4.91 | 1.82 | 0 | 0 |
| Tax Rate For Calcs | 0.16 | 0.15 | 0.13 | 0.11 |
| Total Unusual Items | 31.50 | 12.06 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 31.50 | 12.06 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 267.59 | 242.76 | 198.43 | 237.52 |
| Reconciled Depreciation | 88.74 | 99.45 | 115.74 | 129.43 |
| Reconciled Cost Of Revenue | 1,639.32 | 1,498.05 | 1,471.81 | 1,607.94 |
| Net Interest Income | -43.55 | -33.62 | -38.30 | -46.35 |
| Net Income From Continuing And Discontinued Operation | 254.66 | 242.76 | 198.43 | 237.52 |
| Total Operating Income As Reported | 363.33 | 317.52 | 266.46 | 315.69 |
| Diluted Average Shares | 44.54 | 42.86 | 41.30 | 0 |
| Basic Average Shares | 43.84 | 42.24 | 40.69 | 0 |
| Diluted NI Availto Com Stockholders | 254.66 | 242.76 | 198.43 | 237.52 |
| Minority Interests | -0.16 | 0.20 | 0.02 | 0 |
| Net Income Including Noncontrolling Interests | 254.82 | 242.56 | 198.41 | 237.52 |
| Net Income Discontinuous Operations | -12.93 | 0 | 0 | 0 |
| Net Income Continuous Operations | 267.75 | 242.56 | 198.41 | 237.52 |
| Other Income Expense | 35.50 | 13.92 | -0.21 | -2.47 |
| Other Non Operating Income Expenses | 4 | 1.86 | -0.21 | -2.47 |
| Special Income Charges | 31.50 | 12.06 | 0 | 0 |
| Gain On Sale Of Ppe | 37.89 | 12.06 | 0 | 0 |
| Other Special Charges | 6.39 | 0 | 0 | 0 |
| Write Off | 0 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -43.55 | -33.62 | -38.30 | -46.35 |
| Interest Expense Non Operating | 43.55 | 33.62 | 38.30 | 46.35 |
| Depreciation Amortization Depletion Income Statement | 37.86 | 40.38 | 48.79 | 53.36 |
| Depreciation And Amortization In Income Statement | 37.86 | 40.38 | 48.79 | 53.36 |
| Amortization | 37.86 | 40.38 | 48.79 | 53.36 |
| Amortization Of Intangibles Income Statement | 37.86 | 40.38 | 48.79 | 53.36 |
| Operating Revenue | 2,606.49 | 2,512.08 | 2,460.98 | 2,715.19 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Belden Inc.this co. | BDC | $5.0B | 21.54↓ discount | 3.93 | 18.8% | 13.62 |
| Core Scientific, Inc. | CORZ | $6.2B | - | -6.38 | 30.0% | -65.36 |
| Rigetti Computing, Inc. | RGTI | $5.3B | - | 9.75 | -39.6% | -64.12 |
| Remitly Global, Inc. | RELY | $4.6B | 70.61 | 5.31 | 7.8% | 46.80 |
| Commvault Systems, Inc. | CVLT | $4.4B | 64.04 |
| 581.49 |
| 23.4% |
| 37.72 |
| Zeta Global Holdings Corp. | ZETA | $4.4B | - | 5.42 | -3.9% | 52.89 |
| Novanta Inc. | NOVT | $4.3B | 82.24 | 3.28 | 4.1% | 23.79 |
| Navan, Inc. | NAVN | $4.3B | - | 3.53 | -32.9% | -26.01 |
| Fastly, Inc. | FSLY | $4.1B | - | 4.30 | -13.1% | -64.33 |
| Peer Median | - | 70.61 | 4.80 | 0.1% | -1.11 | |