BEL Fuse vs CTS
BEL Fuse is the larger business, with $675m of revenue in fiscal 2025 against $541m for CTS (1.2 times as much). BEL Fuse grew faster (26.3% against 5.2%). CTS kept more of each dollar of sales as profit: a net margin of 12.1% against 9.1%. CTS carries less debt relative to equity (10.4% against 46.4%).
| Latest fiscal year | BEL FuseBELFA, 2025 | CTSCTS, 2025 |
|---|---|---|
| Revenue | $675m | $541m |
| Revenue growth | 26.3% | 5.2% |
| Net income | $61.5m | $65.3m |
| Operating margin | 16.4% | 15.3% |
| Net margin | 9.1% | 12.1% |
| Return on equity | 15.7% | 12.1% |
| Free cash flow | $68.6m | $86.4m |
| Cash | $57.8m | $82.3m |
| Total debt | $198m | $57.5m |
| Debt to equity | 46.4% | 10.4% |
| Dividend per share | — | $0.16 |
| Dividend yield | 0.9% | 0.3% |
| Share buybacks | $0 | $56.2m |
| Employees | — | — |
| Market value | $408m | $1.81bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 30 (Weak) | 76 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |