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DC Infra·BDC

Belden Inc.

NYSE · US

Signal transmission, cable, connectivity, and industrial networking supplier for enterprise and data center infrastructure.

AI relevance

Cabling and connectivity layer supporting high-density data center electrical and network infrastructure.

DC Infra Networking Grid Other

Price

$123.26

Change

+3.26 (+2.72%)

Market cap

$4.8B

52w range

$101–$160

Exchange

NYSE

Country

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Price chart

BDC market performance

Daily close for Belden Inc.

Latest close: $123.3
Range move: +$13.78 (+12.6%)
Range high: $150.9
Range low: $102.0
Latest volume: 936.4K
Source: FMP EOD

Downloads

Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

60 rows

Available earnings-call transcript dates by fiscal year and quarter.

Download

StreetBuy

Analyst expectations

Consensus target

$155.00

+25.8%

Target range

$155.00 - $155.00

Rating mix

Buy

14 ratings

Next FY revenue

$2.96B

2026-12-31

Next FY EPS

$8.01

$7.90 - $8.12

Rating consensus14 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$2.96B	$2.93B - $2.99B	$8.01	$7.90 - $8.12	$486.9M	$364.4M	$322.0M	$547.8M	3 rev / 2 EPS
2027-12-31	$3.11B	$3.04B - $3.15B	$8.87	$8.68 - $9.07	$510.5M	$382.1M	$356.9M	$574.4M	4 rev / 2 EPS
2028-12-31	$3.22B	$3.19B - $3.25B	$9.45	$9.32 - $9.54	$529.7M	$396.5M	$379.8M	$596.0M	2 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-29	$743.5M	$737.6M - $753.2M	$2.02	$2.00 - $2.06	$122.2M	$91.4M	$79.6M	$137.5M	2 rev / 2 EPS
2026-09-29	$756.1M	$747.3M - $772.3M	$2.08	$2.02 - $2.17	$124.2M	$93.0M	$82.0M	$139.8M	4 rev / 4 EPS
2026-12-29	$765.1M	$758.9M - $775.0M	$2.14	$2.12 - $2.17	$125.7M	$94.1M	$84.2M	$141.4M	2 rev / 1 EPS
2027-03-29	$728.7M	$722.9M - $738.2M	$1.96	$1.94 - $1.99	$119.7M	$89.6M	$77.1M	$134.7M	2 rev / 1 EPS
2027-06-29	$789.1M	$782.7M - $799.3M	$2.26	$2.24 - $2.30	$129.7M	$97.1M	$89.2M	$145.9M	2 rev / 1 EPS
2027-09-29	$796.9M	$790.5M - $807.3M	$2.31	$2.29 - $2.35	$130.9M	$98.0M	$91.2M	$147.3M	2 rev / 1 EPS
2027-12-29	$802.7M	$796.3M - $813.1M	$2.32	$2.30 - $2.36	$131.9M	$98.7M	$91.4M	$148.4M	2 rev / 1 EPS
2028-03-29	$772.4M	$766.2M - $782.4M	$2.13	$2.11 - $2.17	$126.9M	$95.0M	$84.0M	$142.8M	1 rev / 2 EPS

Price target history

Window	Targets	Average target
Last month	1	$155.00
Last quarter	1	$155.00
Last year	2	$152.50
All time	9	$124.00

Sources: TheFly, StreetInsider, Benzinga

Latest grade actions

Date	Firm	Action	Previous	New
2026-02-13	Benchmark	Maintain	Buy	Buy
2025-12-19	Truist Securities	Maintain	Buy	Buy
2025-08-01	Benchmark	Maintain	Buy	Buy
2025-06-17	Benchmark	Maintain	Buy	Buy
2025-05-05	Benchmark	Maintain	Buy	Buy
2025-04-21	Benchmark	Maintain	Buy	Buy
2025-04-17	Benchmark	Maintain	Buy	Buy
2025-04-10	Goldman Sachs	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-06-01	0	4	0	0	0
2026-05-01	0	4	0	0	0
2026-04-01	0	4	0	0	0
2026-03-01	0	5	0	0	0
2026-02-01	0	5	0	0	0
2026-01-01	0	5	0	0	0
2025-12-01	0	5	0	0	0
2025-11-01	0	5	0	0	0

FinancialsFY 2025

Financials

Revenue

$2.72B

Gross margin

36.0%

Operating income

$331.7M

Free cash flow

$218.7M

Cash + ST investments

$389.9M

Net debt

$1.08B

ROE

18.8%

ROIC

10.4%

EV / sales

2.1x

EV / EBITDA

12.9x

R&D / revenue

4.7%

Current ratio

1.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.72B	$978.2M	36.0%	$128.4M	$331.7M	$442.7M	$237.5M	$6.00
FY 2024	$2.46B	$922.2M	37.5%	$112.4M	$266.5M	$382.0M	$198.4M	$4.88
FY 2023	$2.51B	$955.0M	38.0%	$116.4M	$317.5M	$418.8M	$242.8M	$5.75
FY 2022	$2.61B	$916.3M	35.2%	$104.3M	$363.3M	$449.7M	$254.7M	$6.02
FY 2021	$2.30B	$771.8M	33.5%	$90.2M	$263.7M	$377.5M	$63.9M	$1.43
FY 2020	$1.75B	$575.6M	32.9%	$73.0M	$150.1M	$258.4M	-$55.2M	$1.21
FY 2019	$2.13B	$793.5M	37.2%	$94.4M	$207.2M	$347.5M	-$377.0M	$2.60
FY 2018	$2.17B	$829.9M	38.3%	$91.6M	$314.0M	$439.6M	$160.9M	$3.96
FY 2017	$2.09B	$802.3M	38.4%	$88.7M	$233.6M	$330.3M	$93.2M	$2.21
FY 2016	$2.36B	$981.3M	41.6%	$140.5M	$232.1M	$367.1M	$128.0M	$3.04
FY 2015	$2.31B	$918.2M	39.8%	$148.3M	$140.6M	$290.9M	$66.2M	$1.56
FY 2014	$2.31B	$819.4M	35.5%	$113.9M	$163.1M	$265.3M	$74.4M	$1.72

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$354.9M	$136.2M	$218.7M
FY 2024	$352.1M	$129.1M	$223.0M
FY 2023	$319.6M	$116.7M	$202.9M
FY 2022	$281.3M	$105.1M	$176.2M
FY 2021	$272.1M	$91.0M	$181.1M
FY 2020	$173.4M	$90.2M	$83.1M
FY 2019	$276.9M	$110.0M	$166.9M
FY 2018	$289.2M	$97.8M	$191.4M
FY 2017	$255.3M	$64.3M	$191.0M
FY 2016	$314.8M	$54.0M	$260.8M
FY 2015	$236.4M	$55.0M	$181.4M
FY 2014	$194.0M	$45.5M	$148.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$389.9M	$462.8M	$402.3M	$679.1M	$3.54B	$1.47B	$1.08B	$2.28B	$1.26B
FY 2024	$370.3M	$409.7M	$343.1M	$614.2M	$3.33B	$1.25B	$880.9M	$2.03B	$1.29B
FY 2023	$597.0M	$413.8M	$367.0M	$546.0M	$3.24B	$1.30B	$701.1M	$2.07B	$1.17B
FY 2022	$687.7M	$440.1M	$341.6M	$455.2M	$3.16B	$1.24B	$549.6M	$2.02B	$1.14B
FY 2021	$641.6M	$383.4M	$345.2M	$419.1M	$3.42B	$1.54B	$896.9M	$2.46B	$955.3M
FY 2020	$502.0M	$296.8M	$247.3M	$423.4M	$3.14B	$1.63B	$1.13B	$2.38B	$750.6M
FY 2019	$407.5M	$334.6M	$231.3M	$408.2M	$3.41B	$1.51B	$1.10B	$2.44B	$959.8M
FY 2018	$420.6M	$336.0M	$316.4M	$366.0M	$3.78B	$1.46B	$1.04B	$2.39B	$1.39B
FY 2017	$561.1M	$473.6M	$297.2M	$337.3M	$3.83B	$1.56B	$999.6M	$2.40B	$1.43B
FY 2016	$848.1M	$388.1M	$190.4M	$309.3M	$3.81B	$1.62B	$772.0M	$2.35B	$1.46B
FY 2015	$216.8M	$387.4M	$195.9M	$310.6M	$3.32B	$1.75B	$1.54B	$2.49B	$824.1M
FY 2014	$741.2M	$379.8M	$228.4M	$316.4M	$3.26B	$1.77B	$1.03B	$2.46B	$807.2M

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	36.0%	12.2%	8.7%	1.9x	1.4x	18.8%	10.4%	2.1x	12.9x	4.7%	4.7%	71d
FY 2024	37.5%	10.8%	8.1%	1.9x	1.4x	15.3%	8.5%	2.2x	14.3x	4.9%	4.6%	67d
FY 2023	38.0%	12.6%	9.7%	2.3x	1.7x	20.8%	10.3%	1.6x	9.5x	6.2%	4.6%	66d
FY 2022	35.2%	13.9%	9.8%	2.4x	1.9x	22.3%	12.1%	1.4x	8.2x	5.6%	4.0%	60d
FY 2021	33.5%	11.5%	2.8%	2.5x	2.0x	6.7%	8.6%	1.7x	10.2x	6.1%	3.9%	53d
FY 2020	32.9%	8.6%	-3.1%	2.1x	1.6x	-7.3%	4.4%	1.7x	11.6x	4.4%	4.2%	63d
FY 2019	37.2%	9.7%	-17.7%	1.9x	1.6x	-39.3%	5.5%	1.6x	9.9x	7.2%	4.4%	47d
FY 2018	38.3%	14.5%	7.4%	1.8x	1.3x	11.6%	7.4%	1.3x	6.2x	11.3%	4.2%	62d
FY 2017	38.4%	11.2%	4.5%	2.0x	1.6x	6.5%	7.4%	2.0x	12.9x	5.9%	4.3%	60d
FY 2016	41.6%	9.8%	5.4%	2.6x	2.3x	8.8%	7.2%	1.7x	10.7x	8.3%	6.0%	42d
FY 2015	39.8%	6.1%	2.9%	1.5x	1.2x	8.0%	5.1%	1.5x	12.2x	9.0%	6.4%	54d
FY 2014	35.5%	7.1%	3.2%	2.7x	2.3x	9.2%	5.4%	1.9x	16.7x	4.4%	4.9%	49d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+10.3%	+6.1%	+14.3%	+24.5%	+19.7%	+23.0%	-1.9%	-5.5%	+5.3%	+17.3%	+6.5%	+17.8%
FY 2024	-2.0%	-3.4%	-3.5%	-16.1%	-18.3%	-15.1%	+9.9%	-10.6%	-38.0%	-6.5%	+2.7%	-3.6%
FY 2023	-3.6%	+4.2%	+11.6%	-12.6%	-4.7%	-4.5%	+15.2%	-11.1%	-13.2%	+7.4%	+2.5%	+4.9%
FY 2022	+13.3%	+18.7%	+15.7%	+37.8%	+298.4%	+321.0%	-2.7%	-15.5%	+7.2%	-1.1%	-7.5%	-19.6%
FY 2021	+31.3%	+34.1%	+23.6%	+75.7%	+215.9%	+18.2%	+117.8%	-0.9%	+27.8%	+39.6%	+8.9%	-5.9%
FY 2020	-17.8%	-27.5%	-22.6%	-27.6%	+85.4%	-53.5%	-50.2%	+18.0%	+23.2%	+6.9%	-7.8%	+8.3%
FY 2019	-1.6%	-4.4%	+3.1%	-34.0%	-334.3%	-34.3%	-12.8%	-12.4%	-3.1%	-26.9%	-9.9%	+3.1%
FY 2018	+3.8%	+3.4%	+3.2%	+34.4%	+72.6%	+79.2%	+0.2%	-52.3%	-25.0%	+6.5%	-1.4%	-6.3%
FY 2017	-11.4%	-18.2%	-36.8%	+0.7%	-27.2%	-27.3%	-26.8%	-19.1%	-33.8%	+56.1%	+0.7%	-3.7%
FY 2016	+2.1%	+6.9%	-5.3%	+65.1%	+93.3%	+94.9%	+43.7%	+1.8%	+291.3%	-2.8%	+14.8%	-7.6%
FY 2015	+0.0%	+12.0%	+30.2%	-13.8%	-11.1%	-9.3%	+22.1%	-20.9%	-70.8%	-14.2%	+1.6%	-0.8%
FY 2014	+11.6%	+16.3%	+36.8%	-19.0%	-27.9%	-26.8%	+19.4%	-13.1%	+20.8%	+9.8%	+18.4%	+29.3%

SegmentsFY 2025

Revenue Mix

Period	Total	Industrial Solutions	Enterprise Solutions	Broadcast Solutions	Automation Solutions	Industrial Connectivity Solutions	Enterprise Connectivity Solutions	Industrial Information Technology Solutions	Smart Buildings Solutions	Network Solutions	Network Security Solutions
FY 2025	$2.08B	--	--	--	$1.50B	--	--	--	$585.9M	--	--
FY 2024	$1.32B	--	--	--	$1.32B	--	--	--	--	--	--
FY 2023	$2.51B	$1.39B	$1.12B	--	--	--	--	--	--	--	--
FY 2022	$2.61B	$1.41B	$1.20B	--	--	--	--	--	--	--	--
FY 2021	$2.41B	$1.33B	$1.07B	--	--	--	--	--	--	--	--
FY 2020	$1.86B	$990.3M	$872.4M	--	--	--	--	--	--	--	--
FY 2019	$87.0M	$87.0M	$0	--	--	--	--	--	--	--	--
FY 2018	$169.6M	$95.8M	$73.8M	--	--	--	--	--	--	--	--
FY 2017	$2.39B	$628.5M	$631.2M	$725.1M	--	--	--	--	--	$403.9M	--
FY 2016	$2.36B	--	--	$769.8M	--	$585.5M	$603.2M	$235.4M	--	--	$163.9M
FY 2015	$2.36B	--	--	$900.6M	--	$603.4M	$445.2M	$244.3M	--	--	$167.1M
FY 2014	$2.31B	--	--	$916.6M	--	$682.4M	$455.8M	$253.5M	--	--	--

Period	Total	UNITED STATES	Other Country	Other Countries	CANADA	CHINA	GERMANY
FY 2025	$2.72B	$1.58B	--	$708.5M	$188.9M	$99.2M	$139.2M
FY 2024	$2.46B	$1.39B	--	$698.3M	$160.0M	$92.1M	$118.3M
FY 2023	$2.51B	$1.38B	--	$720.9M	$169.1M	$104.7M	$134.1M
FY 2022	$2.61B	$1.45B	$711.8M	--	$188.0M	$126.9M	$131.5M
FY 2021	$2.41B	$1.27B	$680.8M	--	$191.5M	$149.0M	$113.5M
FY 2020	$1.86B	$1.02B	$524.7M	--	$119.7M	$111.8M	$91.2M
FY 2019	$2.13B	$1.27B	$453.6M	--	$170.7M	$129.7M	$105.6M
FY 2018	$2.59B	$1.32B	$835.8M	--	$174.7M	$132.5M	$117.6M
FY 2017	$2.39B	$1.27B	$720.0M	--	$167.6M	$121.6M	$114.0M
FY 2016	$2.36B	$1.28B	$693.9M	--	$160.0M	$114.6M	$104.2M
FY 2015	$2.31B	$1.27B	$650.3M	--	$170.5M	$114.9M	$103.1M
FY 2014	$2.31B	$1.13B	$726.8M	--	$194.1M	$132.3M	$120.3M

Transcripts

Events

Next earnings

2026-07-30EPS est $2.04

Recent filings

SD2026-05-27
8-K2026-05-26
42026-05-26

Latest news

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Seeking Alpha · 2026-06-19
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Seeking Alpha · 2026-06-18

Analyst expectations

Consensus target

$155.00

+25.8%

Target range

$155.00 - $155.00

Rating mix

Buy

14 ratings

Next FY revenue

$2.96B

2026-12-31

Next FY EPS

$8.01

$7.90 - $8.12

Rating consensus14 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-12-31	$2.96B	$2.93B - $2.99B	$8.01	$7.90 - $8.12	$486.9M	$364.4M	$322.0M	$547.8M	3 rev / 2 EPS
2027-12-31	$3.11B	$3.04B - $3.15B	$8.87	$8.68 - $9.07	$510.5M	$382.1M	$356.9M	$574.4M	4 rev / 2 EPS
2028-12-31	$3.22B	$3.19B - $3.25B	$9.45	$9.32 - $9.54	$529.7M	$396.5M	$379.8M	$596.0M	2 rev / 1 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-29	$743.5M	$737.6M - $753.2M	$2.02	$2.00 - $2.06	$122.2M	$91.4M	$79.6M	$137.5M	2 rev / 2 EPS
2026-09-29	$756.1M	$747.3M - $772.3M	$2.08	$2.02 - $2.17	$124.2M	$93.0M	$82.0M	$139.8M	4 rev / 4 EPS
2026-12-29	$765.1M	$758.9M - $775.0M	$2.14	$2.12 - $2.17	$125.7M	$94.1M	$84.2M	$141.4M	2 rev / 1 EPS
2027-03-29	$728.7M	$722.9M - $738.2M	$1.96	$1.94 - $1.99	$119.7M	$89.6M	$77.1M	$134.7M	2 rev / 1 EPS
2027-06-29	$789.1M	$782.7M - $799.3M	$2.26	$2.24 - $2.30	$129.7M	$97.1M	$89.2M	$145.9M	2 rev / 1 EPS
2027-09-29	$796.9M	$790.5M - $807.3M	$2.31	$2.29 - $2.35	$130.9M	$98.0M	$91.2M	$147.3M	2 rev / 1 EPS
2027-12-29	$802.7M	$796.3M - $813.1M	$2.32	$2.30 - $2.36	$131.9M	$98.7M	$91.4M	$148.4M	2 rev / 1 EPS
2028-03-29	$772.4M	$766.2M - $782.4M	$2.13	$2.11 - $2.17	$126.9M	$95.0M	$84.0M	$142.8M	1 rev / 2 EPS

Price target history

Window	Targets	Average target
Last month	1	$155.00
Last quarter	1	$155.00
Last year	2	$152.50
All time	9	$124.00

Sources: TheFly, StreetInsider, Benzinga

Latest grade actions

Date	Firm	Action	Previous	New
2026-02-13	Benchmark	Maintain	Buy	Buy
2025-12-19	Truist Securities	Maintain	Buy	Buy
2025-08-01	Benchmark	Maintain	Buy	Buy
2025-06-17	Benchmark	Maintain	Buy	Buy
2025-05-05	Benchmark	Maintain	Buy	Buy
2025-04-21	Benchmark	Maintain	Buy	Buy
2025-04-17	Benchmark	Maintain	Buy	Buy
2025-04-10	Goldman Sachs	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold	Sell	Strong sell
2026-06-01	0	4	0	0	0
2026-05-01	0	4	0	0	0
2026-04-01	0	4	0	0	0
2026-03-01	0	5	0	0	0
2026-02-01	0	5	0	0	0
2026-01-01	0	5	0	0	0
2025-12-01	0	5	0	0	0
2025-11-01	0	5	0	0	0

Financials

Revenue

$2.72B

Gross margin

36.0%

Operating income

$331.7M

Free cash flow

$218.7M

Cash + ST investments

$389.9M

Net debt

$1.08B

ROE

18.8%

ROIC

10.4%

EV / sales

2.1x

EV / EBITDA

12.9x

R&D / revenue

4.7%

Current ratio

1.9x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$2.72B	$978.2M	36.0%	$128.4M	$331.7M	$442.7M	$237.5M	$6.00
FY 2024	$2.46B	$922.2M	37.5%	$112.4M	$266.5M	$382.0M	$198.4M	$4.88
FY 2023	$2.51B	$955.0M	38.0%	$116.4M	$317.5M	$418.8M	$242.8M	$5.75
FY 2022	$2.61B	$916.3M	35.2%	$104.3M	$363.3M	$449.7M	$254.7M	$6.02
FY 2021	$2.30B	$771.8M	33.5%	$90.2M	$263.7M	$377.5M	$63.9M	$1.43
FY 2020	$1.75B	$575.6M	32.9%	$73.0M	$150.1M	$258.4M	-$55.2M	$1.21
FY 2019	$2.13B	$793.5M	37.2%	$94.4M	$207.2M	$347.5M	-$377.0M	$2.60
FY 2018	$2.17B	$829.9M	38.3%	$91.6M	$314.0M	$439.6M	$160.9M	$3.96
FY 2017	$2.09B	$802.3M	38.4%	$88.7M	$233.6M	$330.3M	$93.2M	$2.21
FY 2016	$2.36B	$981.3M	41.6%	$140.5M	$232.1M	$367.1M	$128.0M	$3.04
FY 2015	$2.31B	$918.2M	39.8%	$148.3M	$140.6M	$290.9M	$66.2M	$1.56
FY 2014	$2.31B	$819.4M	35.5%	$113.9M	$163.1M	$265.3M	$74.4M	$1.72

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$354.9M	$136.2M	$218.7M
FY 2024	$352.1M	$129.1M	$223.0M
FY 2023	$319.6M	$116.7M	$202.9M
FY 2022	$281.3M	$105.1M	$176.2M
FY 2021	$272.1M	$91.0M	$181.1M
FY 2020	$173.4M	$90.2M	$83.1M
FY 2019	$276.9M	$110.0M	$166.9M
FY 2018	$289.2M	$97.8M	$191.4M
FY 2017	$255.3M	$64.3M	$191.0M
FY 2016	$314.8M	$54.0M	$260.8M
FY 2015	$236.4M	$55.0M	$181.4M
FY 2014	$194.0M	$45.5M	$148.6M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$389.9M	$462.8M	$402.3M	$679.1M	$3.54B	$1.47B	$1.08B	$2.28B	$1.26B
FY 2024	$370.3M	$409.7M	$343.1M	$614.2M	$3.33B	$1.25B	$880.9M	$2.03B	$1.29B
FY 2023	$597.0M	$413.8M	$367.0M	$546.0M	$3.24B	$1.30B	$701.1M	$2.07B	$1.17B
FY 2022	$687.7M	$440.1M	$341.6M	$455.2M	$3.16B	$1.24B	$549.6M	$2.02B	$1.14B
FY 2021	$641.6M	$383.4M	$345.2M	$419.1M	$3.42B	$1.54B	$896.9M	$2.46B	$955.3M
FY 2020	$502.0M	$296.8M	$247.3M	$423.4M	$3.14B	$1.63B	$1.13B	$2.38B	$750.6M
FY 2019	$407.5M	$334.6M	$231.3M	$408.2M	$3.41B	$1.51B	$1.10B	$2.44B	$959.8M
FY 2018	$420.6M	$336.0M	$316.4M	$366.0M	$3.78B	$1.46B	$1.04B	$2.39B	$1.39B
FY 2017	$561.1M	$473.6M	$297.2M	$337.3M	$3.83B	$1.56B	$999.6M	$2.40B	$1.43B
FY 2016	$848.1M	$388.1M	$190.4M	$309.3M	$3.81B	$1.62B	$772.0M	$2.35B	$1.46B
FY 2015	$216.8M	$387.4M	$195.9M	$310.6M	$3.32B	$1.75B	$1.54B	$2.49B	$824.1M
FY 2014	$741.2M	$379.8M	$228.4M	$316.4M	$3.26B	$1.77B	$1.03B	$2.46B	$807.2M

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	36.0%	12.2%	8.7%	1.9x	1.4x	18.8%	10.4%	2.1x	12.9x	4.7%	4.7%	71d
FY 2024	37.5%	10.8%	8.1%	1.9x	1.4x	15.3%	8.5%	2.2x	14.3x	4.9%	4.6%	67d
FY 2023	38.0%	12.6%	9.7%	2.3x	1.7x	20.8%	10.3%	1.6x	9.5x	6.2%	4.6%	66d
FY 2022	35.2%	13.9%	9.8%	2.4x	1.9x	22.3%	12.1%	1.4x	8.2x	5.6%	4.0%	60d
FY 2021	33.5%	11.5%	2.8%	2.5x	2.0x	6.7%	8.6%	1.7x	10.2x	6.1%	3.9%	53d
FY 2020	32.9%	8.6%	-3.1%	2.1x	1.6x	-7.3%	4.4%	1.7x	11.6x	4.4%	4.2%	63d
FY 2019	37.2%	9.7%	-17.7%	1.9x	1.6x	-39.3%	5.5%	1.6x	9.9x	7.2%	4.4%	47d
FY 2018	38.3%	14.5%	7.4%	1.8x	1.3x	11.6%	7.4%	1.3x	6.2x	11.3%	4.2%	62d
FY 2017	38.4%	11.2%	4.5%	2.0x	1.6x	6.5%	7.4%	2.0x	12.9x	5.9%	4.3%	60d
FY 2016	41.6%	9.8%	5.4%	2.6x	2.3x	8.8%	7.2%	1.7x	10.7x	8.3%	6.0%	42d
FY 2015	39.8%	6.1%	2.9%	1.5x	1.2x	8.0%	5.1%	1.5x	12.2x	9.0%	6.4%	54d
FY 2014	35.5%	7.1%	3.2%	2.7x	2.3x	9.2%	5.4%	1.9x	16.7x	4.4%	4.9%	49d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+10.3%	+6.1%	+14.3%	+24.5%	+19.7%	+23.0%	-1.9%	-5.5%	+5.3%	+17.3%	+6.5%	+17.8%
FY 2024	-2.0%	-3.4%	-3.5%	-16.1%	-18.3%	-15.1%	+9.9%	-10.6%	-38.0%	-6.5%	+2.7%	-3.6%
FY 2023	-3.6%	+4.2%	+11.6%	-12.6%	-4.7%	-4.5%	+15.2%	-11.1%	-13.2%	+7.4%	+2.5%	+4.9%
FY 2022	+13.3%	+18.7%	+15.7%	+37.8%	+298.4%	+321.0%	-2.7%	-15.5%	+7.2%	-1.1%	-7.5%	-19.6%
FY 2021	+31.3%	+34.1%	+23.6%	+75.7%	+215.9%	+18.2%	+117.8%	-0.9%	+27.8%	+39.6%	+8.9%	-5.9%
FY 2020	-17.8%	-27.5%	-22.6%	-27.6%	+85.4%	-53.5%	-50.2%	+18.0%	+23.2%	+6.9%	-7.8%	+8.3%
FY 2019	-1.6%	-4.4%	+3.1%	-34.0%	-334.3%	-34.3%	-12.8%	-12.4%	-3.1%	-26.9%	-9.9%	+3.1%
FY 2018	+3.8%	+3.4%	+3.2%	+34.4%	+72.6%	+79.2%	+0.2%	-52.3%	-25.0%	+6.5%	-1.4%	-6.3%
FY 2017	-11.4%	-18.2%	-36.8%	+0.7%	-27.2%	-27.3%	-26.8%	-19.1%	-33.8%	+56.1%	+0.7%	-3.7%
FY 2016	+2.1%	+6.9%	-5.3%	+65.1%	+93.3%	+94.9%	+43.7%	+1.8%	+291.3%	-2.8%	+14.8%	-7.6%
FY 2015	+0.0%	+12.0%	+30.2%	-13.8%	-11.1%	-9.3%	+22.1%	-20.9%	-70.8%	-14.2%	+1.6%	-0.8%
FY 2014	+11.6%	+16.3%	+36.8%	-19.0%	-27.9%	-26.8%	+19.4%	-13.1%	+20.8%	+9.8%	+18.4%	+29.3%

Revenue Mix