BDC
Belden Inc.
BDC's fundamentals are mixed: revenue grew 18%, but its operating margin fell 2 points to 9%. At 23x earnings, it's trading in line with its usual 21x. Analysts expect strong earnings growth.
BDC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Weak |
BDC's revenue and cash flow are currently healthy, and its profitability is stable, but its balance sheet is weak.
BDC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $102 | — |
| Cheap | 15x | $65.72 | -36% |
| Fair | 21x | $94.82 | -7.2% |
| Current | 23x | $102 | — |
| Expensive | 28x | $123 | +21% |
Historical ranges are pointers, not guarantees.
BDC's PE is in its fair range at 23x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
BDC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for BDC, but weaker profitability.
BDC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.58 | +115% |
| Q3 2026 | $4.45 | -21% |
| Q2 2026 | $6.15 | +12% |
| Q1 2026 | $5.94 | +15% |
| Q4 2025 | $5.91 | +23% |
| Q3 2025 | $5.62 | +31% |
| Q2 2025 | $5.51 | +17% |
| Q1 2025 | $5.17 | +1.2% |
| Q4 2024 | $4.80 | -15% |
BDC's earnings per share have fallen from their peak: $4.45 over the past year, against $6.67 in mid-2023.
BDC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $966M | +38% |
| Q2 2026 | $750.2M | +12% |
| Q1 2026 | $696.4M | +11% |
| Q4 2025 | $720.1M | +8.1% |
| Q3 2025 | $698.2M | +6.6% |
| Q2 2025 | $672M | +11% |
| Q1 2025 | $624.9M | +17% |
| Q4 2024 | $666M | +21% |
BDC's revenue has grown year over year for nine quarters in a row: $966M last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.7% | -9.2 points |
| Q2 2026 | 13% | +1.4 points |
| Q1 2026 | 11% | -0.4 points |
| Q4 2025 | 12% | +1.8 points |
| Q3 2025 | 11% | -0.6 points |
| Q2 2025 | 12% | +0.4 points |
| Q1 2025 | 12% | +1.7 points |
| Q4 2024 | 10% | +2.4 points |
BDC's operating margin was 1.7% last quarter, down 9.2 points from the same quarter a year ago, near the bottom of its range since 2019.
BDC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $81.8M | +25% |
| Q2 2026 | $88.6M | +56% |
| Q1 2026 | -$63.1M | -$38.3M |
| Q4 2025 | $121.3M | +4.2% |
| Q3 2025 | $65.3M | -2.7% |
| Q2 2025 | $56.9M | -6.7% |
| Q1 2025 | -$24.8M | -$3.2M |
| Q4 2024 | $116.4M | +11% |
BDC generated $229M in free cash flow over the past year, up 6.9% from the year before.
BDC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -203K shares |
| 1 year | -2.6% | -1.1M shares |
| 3 years | -8.3% | -3.5M shares |
| 5 years | -14% | -6.3M shares |
| Available history | -7.9% | -3.3M shares |
BDC has 39M diluted shares, down 2.6% from a year ago.
BDC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.8x | High |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.0x | Moderate |
| Q3 2025 | 2.3x | Moderate |
| Q2 2025 | 2.3x | Moderate |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.0x | Healthy |
BDC's net debt is about 5.8 years of its operating earnings (EBITDA), up from 2.3 years a year ago.
BDC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.5 | Neutral |
| Stochastic | 15.0 | Oversold |
BDC's weekly RSI is 43 (neutral) and its Stochastic is 15 (oversold).
BDC PE vs Technology Sector
| Metric | BDC | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 28x | 18% below |
| PE % | 61 | 35 | 26 pts above |
BDC is trading at 23x earnings, a 18% discount to the Technology sector's median of 28x.
BDC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $105.9 | 3.4% below |
| 20 week MA | $113.0 | 9.5% below |
| 50 week MA | $117.6 | 13% below |
| 100 week MA | $115.8 | 12% below |
| 200 week MA | $103.4 | 1.1% below |
BDC is in a downtrend: it's below all five of its weekly moving averages, and 1.1% below its 200-week average.
BDC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $55.5 | $41.6 | -25% |
| 2021 | $41.6 | $63.7 | +53% |
| 2022 | $63.7 | $73.2 | +15% |
| 2023 | $73.2 | $77.3 | +5.5% |
| 2024 | $77.3 | $113.5 | +47% |
| 2025 | $113.5 | $118.4 | +4.3% |
| 2026 YTD | $118.4 | $102.2 | -14% |
BDC has finished higher in five of the last six years. It's down 14% so far in 2026.