BELDEN INC.

Listed Company

BDCCIK 0000913142NYSELarge AcceleratedDrawing & Insulating Of Nonferrous WireDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.72B

Net Income

$237.52M

Total Assets

$3.54B

Equity

$1.26B

Shares Out

38.94M

Op. Cash Flow

$354.86M

Business

Belden Inc. is a global supplier of complete connection solutions that design, manufacture, and deliver network infrastructure and digitization products enabling secure, high-performance data and signal transmission. It offers copper and fiber cabling, connectivity, interconnect panels, racks, enclosures, signal extension and matrix switching systems, optical transceivers, network security and firewall products, and software and services for data acquisition, transmission, orchestration, and management. The company operates two reportable segments: Smart Infrastructure Solutions and Automation Solutions. Belden sells through distributors, OEMs, installers and direct sales across North America, Europe, Asia and other international markets.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	2,715	2,461	2,512	2,606	2,301
Cost of sales	−1,684	−1,539	−1,557	−1,690	−1,529
Gross profit	1,031	922	955	916	772
Selling, general and administrative expenses	−533	−495	−493	−449	−378
Research and development expenses	−129	−112	−116	−104	−90
Amortization of intangibles	−53	−49	−40	−38	−31
Gain on sale of assets	0	0	12	38	0
Operating income	316	266	318	363	264
Interest expense, net	−46	−38	−34	−44	—
Loss related to revolver refinancing	−76,000	0	0	−6	−6
Non-operating pension benefit (cost)	−2	−215,000	2	4	4
Income before taxes	267	228	286	317	227
Income tax expense	−29	−30	−43	−50	−28
Net income	238	198	243	255	64
Less: Net loss attributable to noncontrolling interest	0	−19,000	−203,000	159,000	392,000
Net income attributable to Belden common stockholders	238	198	243	255	64
Basic (in shares)	40	41	42	44	45
Diluted (in shares)	40	41	43	45	45
Basic income per share attributable to Belden common stockholders (in dollars per share)	6	4.88	5.75	5.81	1.43
Diluted income per share attributable to Belden common stockholders (in dollars per share)	5.91	4.8	5.66	5.72	1.41

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	390	370	597	688	642
Receivables, net	463	410	414	440	383
Inventories, net	402	343	367	342	345
Other current assets	94	73	79	67	58
Total current assets	1,349	1,196	1,457	1,536	1,878
Property, plant and equipment, less accumulated depreciation	566	496	451	382	344
Operating lease right-of-use assets	113	119	90	73	76
Goodwill	1,037	1,019	907	862	821
Intangible assets, less accumulated amortization	400	419	269	247	238
Deferred income taxes	15	16	16	15	32
Other long-lived assets	64	63	50	47	30
Total assets	3,544	3,328	3,240	3,162	3,418
Accounts payable	361	316	343	350	378
Accrued liabilities	336	307	290	290	278
Total current liabilities	697	623	634	640	753
Long-term debt	1,286	1,130	1,204	1,161	1,460
Postretirement benefits	64	63	75	68	121
Deferred income taxes	98	77	49	59	51
Long-term operating lease liabilities	94	100	75	59	62
Other long-term liabilities	40	40	37	31	15
Common stock, par value $0.01 per share 200,000 shares authorized; 50,335 shares issued; 38,947 and 40,211 shares outstanding at 2025 and 2024, respectively	503,000	503,000	503,000	503,000	503,000
Additional paid-in capital	867	840	819	826	834
Retained earnings	1,406	1,176	986	752	506
Accumulated other comprehensive loss	−97	−4	−41	−6	−71
Treasury stock, at cost 11,388 and 10,124 shares at 2025 and 2024, respectively	−912	−718	−597	−429	−314
Total Belden stockholders equity	1,264	1,295	1,166	1,143	955
Total liabilities and stockholders' equity	3,544	3,328	3,240	3,162	3,418

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	129	116	99	89	88
Share-based compensation	30	28	21	24	25
Deferred income tax expense (benefit)	5	−16	−13	−627,000	4
Gain on sale of assets	0	0	−12	−38	0
Receivables	−38	19	25	−34	−119
Inventories	−48	24	−15	6	−93
Accounts payable	19	−22	−8	−21	136
Accrued liabilities	10	11	−16	−5	61
Income taxes	−9	7	−4	2	−6
Other assets	−281,000	−7	−9	3	−13
Other liabilities	19	−6	10	−5	−21
Net cash provided by operating activities	355	352	320	281	272
Capital expenditures	−136	−129	−117	−105	−91
Disposal of businesses, net of cash	0	−1	9	335	46
Cash from (used for) business acquisitions	8	−296	−107	−105	−73
Proceeds from disposal of tangible assets	191,000	113,000	14	44	30
Net cash used for investing activities	−128	−427	−200	168	−92
Payments under share repurchase program, including excise tax	−196	−134	−192	−150	0
Payments on revolving credit facility	−50	0	0	−231	−360
Withholding tax payments for share-based payment awards	−21	−10	−17	−7	−6
Cash dividends paid	−8	−8	−8	−9	−9
Debt issuance costs paid	−3	0	0	0	−8
Payments under financing lease obligations	−2	−1	−423,000	−157,000	−3
Payments to noncontrolling interest holders	0	−67,000	0	0	−3
Other	0	728,000	0	0	−3
Proceeds from issuance of common stock	12	9	7	4	0
Borrowings on revolving credit facility	50	0	0	0	356
Net cash used for financing activities	−218	−144	−212	−393	−33
Effect of foreign currency exchange rate changes on cash and cash equivalents	11	−8	2	−13	−5
Net increase (decrease) in cash and cash equivalents	20	−227	−91	44	142

Filings

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