This page shows Bel Fuse Inc (BELFB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Bel Fuse Inc has an operating margin of 16.4%, meaning the company retains $16 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is up from 12.0% the prior year.
Bel Fuse Inc's revenue surged 26.3% year-over-year to $675.5M, reflecting rapid business expansion. This strong growth earns a score of 77/100.
Bel Fuse Inc carries a low D/E ratio of 0.46, meaning only $0.46 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Bel Fuse Inc's current ratio of 3.02 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Bel Fuse Inc has a free cash flow margin of 10.2%, earning a moderate score of 50/100. The company generates positive cash flow after capital investments, but with room for improvement.
Bel Fuse Inc's ROE of 14.5% shows moderate profitability relative to equity, earning a score of 43/100. This is up from 11.4% the prior year.
Bel Fuse Inc scores 5.78, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.6B) relative to total liabilities ($416.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Bel Fuse Inc passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Bel Fuse Inc generates $1.31 in operating cash flow ($80.6M OCF vs $61.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Bel Fuse Inc earns $7.5 in operating income for every $1 of interest expense ($111.0M vs $14.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Bel Fuse Inc generated $675.5M in revenue in fiscal year 2025. This represents an increase of 26.3% from the prior year.
Bel Fuse Inc's EBITDA was $137.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 70.4% from the prior year.
Bel Fuse Inc reported $61.5M in net income in fiscal year 2025. This represents an increase of 50.2% from the prior year.
Cash & Balance Sheet
Bel Fuse Inc generated $68.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.4% from the prior year.
Bel Fuse Inc held $57.8M in cash against $197.5M in long-term debt as of fiscal year 2025.
Margins & Returns
Bel Fuse Inc's gross margin was 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.
Bel Fuse Inc's operating margin was 16.4% in fiscal year 2025, reflecting core business profitability. This is up 4.4 percentage points from the prior year.
Bel Fuse Inc's net profit margin was 9.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.4 percentage points from the prior year.
Bel Fuse Inc's ROE was 14.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.1 percentage points from the prior year.
Capital Allocation
Bel Fuse Inc invested $30.9M in research and development in fiscal year 2025. This represents an increase of 30.9% from the prior year.
Bel Fuse Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Bel Fuse Inc invested $12.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 14.9% from the prior year.
BELFB Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $175.9M-1.7% | $179.0M+6.3% | $168.3M+10.5% | $152.2M+1.6% | $149.9M+21.2% | $123.6M-7.2% | $133.2M+4.0% | $128.1M |
| Cost of Revenue | $106.6M-1.2% | $107.8M+4.5% | $103.2M+10.5% | $93.4M-0.2% | $93.7M+18.6% | $79.0M-1.1% | $79.8M-0.3% | $80.0M |
| Gross Profit | $69.4M-2.5% | $71.1M+9.3% | $65.1M+10.6% | $58.8M+4.6% | $56.2M+25.8% | $44.7M-16.3% | $53.4M+11.1% | $48.1M |
| R&D Expenses | $8.0M+5.9% | $7.5M-6.8% | $8.1M+12.2% | $7.2M+4.2% | $6.9M+27.4% | $5.4M-9.2% | $6.0M+14.9% | $5.2M |
| SG&A Expenses | $32.6M-0.6% | $32.8M+6.1% | $30.9M+4.8% | $29.5M-15.3% | $34.8M+30.5% | $26.7M+10.6% | $24.1M-3.2% | $24.9M |
| Operating Income | $25.8M-15.0% | $30.3M+1.6% | $29.9M+19.3% | $25.0M+102.2% | $12.4M+8.1% | $11.4M-49.4% | $22.6M+26.7% | $17.9M |
| Interest Expense | $3.0M-18.0% | $3.6M-9.1% | $4.0M-3.8% | $4.2M+47.5% | $2.8M+580.0% | $414K-0.2% | $415K-4.4% | $434K |
| Income Tax | $3.1M-42.7% | $5.4M-21.1% | $6.9M+26.4% | $5.5M+473.2% | $953K-69.3% | $3.1M-23.8% | $4.1M-9.0% | $4.5M |
| Net Income | -$5.7M-125.2% | $22.6M-15.8% | $26.8M+49.9% | $17.9M+1093.0% | -$1.8M-122.3% | $8.1M-57.0% | $18.8M+18.5% | $15.9M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BELFB Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $935.2M-1.8% | $952.8M+0.2% | $950.6M+1.1% | $940.5M-1.0% | $949.8M+62.5% | $584.4M+3.0% | $567.6M+2.2% | $555.3M |
| Current Assets | $384.8M-0.8% | $387.7M+2.4% | $378.6M+2.8% | $368.4M-1.4% | $373.5M-3.6% | $387.6M+3.1% | $376.0M+3.2% | $364.3M |
| Cash & Equivalents | $57.8M+0.1% | $57.7M-2.6% | $59.3M-10.1% | $65.9M-3.4% | $68.3M-49.2% | $134.3M+58.0% | $85.0M+19.1% | $71.3M |
| Inventory | $167.3M+0.7% | $166.1M+0.9% | $164.6M-0.1% | $164.8M+2.1% | $161.4M+29.2% | $124.9M-2.4% | $127.9M-1.9% | $130.5M |
| Accounts Receivable | $121.5M-3.6% | $126.0M+3.9% | $121.2M+17.0% | $103.6M-6.9% | $111.4M+46.6% | $76.0M-6.4% | $81.2M-2.8% | $83.5M |
| Goodwill | $214.8M+0.1% | $214.6M+1.6% | $211.3M+1.6% | $208.0M0.0% | $208.0M+672.7% | $26.9M+5.9% | $25.4M+0.3% | $25.3M |
| Total Liabilities | $416.5M-6.1% | $443.8M-4.5% | $464.9M-3.7% | $482.5M-5.1% | $508.6M+134.3% | $217.1M+2.8% | $211.2M+1.2% | $208.7M |
| Current Liabilities | $127.4M+0.5% | $126.8M+2.2% | $124.1M+11.5% | $111.2M-13.1% | $128.1M+32.2% | $96.9M+7.9% | $89.8M+3.8% | $86.5M |
| Long-Term Debt | $197.5M-12.2% | $225.0M-10.0% | $250.0M-10.7% | $280.0M-2.6% | $287.5M+379.2% | $60.0M0.0% | $60.0M0.0% | $60.0M |
| Total Equity | $425.5M-0.5% | $427.8M+5.7% | $404.7M+7.4% | $376.9M+4.5% | $360.6M-1.8% | $367.4M+3.1% | $356.4M+2.8% | $346.7M |
| Retained Earnings | $403.1M-1.5% | $409.4M+5.5% | $388.0M+7.2% | $362.0M+4.9% | $345.0M-0.8% | $347.7M+2.1% | $340.5M+5.6% | $322.5M |
BELFB Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $29.6M+33.3% | $22.2M+7.1% | $20.7M+154.3% | $8.1M-2.4% | $8.3M-69.5% | $27.4M-15.0% | $32.2M+423.5% | $6.2M |
| Capital Expenditures | $3.4M+84.1% | $1.9M-52.6% | $3.9M+40.8% | $2.8M-55.0% | $6.2M+70.9% | $3.6M+168.9% | $1.3M-53.9% | $2.9M |
| Free Cash Flow | $26.1M+28.7% | $20.3M+21.0% | $16.8M+213.4% | $5.4M+150.1% | $2.1M-91.0% | $23.7M-23.0% | $30.8M+857.6% | $3.2M |
| Investing Cash Flow | -$2.4M-389.3% | $829K-40.2% | $1.4M+145.2% | -$3.1M+99.0% | -$297.3M-1271.7% | $25.4M+344.6% | -$10.4M+33.4% | -$15.6M |
| Financing Cash Flow | -$28.5M-10.2% | -$25.8M+18.0% | -$31.5M-278.3% | -$8.3M-103.7% | $225.1M+7552.1% | -$3.0M+65.4% | -$8.7M-22.6% | -$7.1M |
| Dividends Paid | $971K+16.4% | $834K+0.4% | $831K+0.2% | $829K-14.2% | $966K+18.8% | $813K-2.9% | $837K0.0% | $837K |
| Share Buybacks | $0 | $0 | $0 | $0 | $0-100.0% | $1.9M-76.2% | $7.9M+25.6% | $6.3M |
BELFB Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.4%-0.3pp | 39.8%+1.1pp | 38.7%+0.0pp | 38.6%+1.1pp | 37.5%+1.4pp | 36.1%-3.9pp | 40.1%+2.6pp | 37.5% |
| Operating Margin | 14.6%-2.3pp | 17.0%-0.8pp | 17.7%+1.3pp | 16.4%+8.2pp | 8.3%-1.0pp | 9.3%-7.7pp | 17.0%+3.0pp | 13.9% |
| Net Margin | -3.2%-15.8pp | 12.6%-3.3pp | 15.9%+4.2pp | 11.7%+12.9pp | -1.2%-7.7pp | 6.5%-7.6pp | 14.1%+1.7pp | 12.4% |
| Return on Equity | -1.3%-6.6pp | 5.3%-1.3pp | 6.6%+1.9pp | 4.7%+5.2pp | -0.5%-2.7pp | 2.2%-3.1pp | 5.3%+0.7pp | 4.6% |
| Return on Assets | -0.6%-3.0pp | 2.4%-0.5pp | 2.8%+0.9pp | 1.9%+2.1pp | -0.2%-1.6pp | 1.4%-1.9pp | 3.3%+0.4pp | 2.9% |
| Current Ratio | 3.02-0.0 | 3.060.0 | 3.05-0.3 | 3.31+0.4 | 2.92-1.1 | 4.00-0.2 | 4.19-0.0 | 4.21 |
| Debt-to-Equity | 0.46-0.1 | 0.53-0.1 | 0.62-0.1 | 0.74-0.1 | 0.80+0.6 | 0.160.0 | 0.170.0 | 0.17 |
| FCF Margin | 14.9%+3.5pp | 11.3%+1.4pp | 10.0%+6.5pp | 3.5%+2.1pp | 1.4%-17.8pp | 19.2%-4.0pp | 23.2%+20.6pp | 2.5% |
Similar Companies
Frequently Asked Questions
What is Bel Fuse Inc's annual revenue?
Bel Fuse Inc (BELFB) reported $675.5M in total revenue for fiscal year 2025. This represents a 26.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Bel Fuse Inc's revenue growing?
Bel Fuse Inc (BELFB) revenue grew by 26.3% year-over-year, from $534.8M to $675.5M in fiscal year 2025.
Is Bel Fuse Inc profitable?
Yes, Bel Fuse Inc (BELFB) reported a net income of $61.5M in fiscal year 2025, with a net profit margin of 9.1%.
What is Bel Fuse Inc's EBITDA?
Bel Fuse Inc (BELFB) had EBITDA of $137.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Bel Fuse Inc have?
As of fiscal year 2025, Bel Fuse Inc (BELFB) had $57.8M in cash and equivalents against $197.5M in long-term debt.
What is Bel Fuse Inc's gross margin?
Bel Fuse Inc (BELFB) had a gross margin of 39.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Bel Fuse Inc's operating margin?
Bel Fuse Inc (BELFB) had an operating margin of 16.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Bel Fuse Inc's net profit margin?
Bel Fuse Inc (BELFB) had a net profit margin of 9.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Bel Fuse Inc's return on equity (ROE)?
Bel Fuse Inc (BELFB) has a return on equity of 14.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Bel Fuse Inc's free cash flow?
Bel Fuse Inc (BELFB) generated $68.6M in free cash flow during fiscal year 2025. This represents a 14.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Bel Fuse Inc's operating cash flow?
Bel Fuse Inc (BELFB) generated $80.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Bel Fuse Inc's total assets?
Bel Fuse Inc (BELFB) had $935.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Bel Fuse Inc's capital expenditures?
Bel Fuse Inc (BELFB) invested $12.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Bel Fuse Inc spend on research and development?
Bel Fuse Inc (BELFB) invested $30.9M in research and development during fiscal year 2025.
What is Bel Fuse Inc's current ratio?
Bel Fuse Inc (BELFB) had a current ratio of 3.02 as of fiscal year 2025, which is generally considered healthy.
What is Bel Fuse Inc's debt-to-equity ratio?
Bel Fuse Inc (BELFB) had a debt-to-equity ratio of 0.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Bel Fuse Inc's return on assets (ROA)?
Bel Fuse Inc (BELFB) had a return on assets of 6.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Bel Fuse Inc's Altman Z-Score?
Bel Fuse Inc (BELFB) has an Altman Z-Score of 5.78, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Bel Fuse Inc's Piotroski F-Score?
Bel Fuse Inc (BELFB) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Bel Fuse Inc's earnings high quality?
Bel Fuse Inc (BELFB) has an earnings quality ratio of 1.31x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Bel Fuse Inc cover its interest payments?
Bel Fuse Inc (BELFB) has an interest coverage ratio of 7.5x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Bel Fuse Inc?
Bel Fuse Inc (BELFB) scores 63 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.