Belden Inc. income statement
In fiscal 2025, Belden Inc. reported revenue of $2.72bn, up 10.3% on the year before, operating income of $316m (a 11.6% margin) and net income of $238m, or $5.91 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,362 | 1,543 | 1,882 | 1,841 | 2,069 | 2,308 | 2,309 | 2,357 | 2,087 | 2,166 | 2,131 | 1,752 | 2,301 | 2,606 | 2,512 | 2,461 | 2,715 | 3,133 |
| Cost of revenue | — | — | — | — | — | — | — | 1,375 | 1,285 | 1,336 | 1,338 | 1,177 | 1,529 | 1,690 | 1,557 | 1,539 | 1,684 | 1,979 |
| Gross profit | 388 | 447 | 542 | 567 | 704 | 819 | 918 | 981 | 802 | 830 | 794 | 576 | 772 | 916 | 955 | 922 | 1,031 | 1,154 |
| Research and development | 40 | 42 | 55 | 65 | 83 | 114 | 148 | 141 | 89 | 92 | 94 | 73 | 90 | 104 | 116 | 112 | 129 | 150 |
| Selling, general and administrative | 262 | 273 | 319 | 346 | 378 | 484 | 526 | 486 | 390 | 411 | 417 | 323 | 378 | 449 | 493 | 495 | 533 | 629 |
| Operating income | 36 | 117 | 165 | 108 | 201 | 163 | 141 | 232 | 234 | 314 | 207 | 150 | 264 | 363 | 318 | 266 | 316 | 282 |
| Interest expense | 42 | 50 | 48 | 52 | 73 | 82 | — | — | — | — | — | — | — | — | — | — | — | — |
| Net interest income | — | — | — | — | −73 | −82 | −101 | −95 | −83 | −61 | −56 | −59 | −63 | −44 | −34 | — | — | — |
| Income before tax | −6 | 69 | 118 | 5 | 127 | 82 | 40 | 126 | 98 | 230 | 152 | 91 | 227 | 317 | 286 | 228 | 267 | 196 |
| Income tax | 1 | 8 | 17 | −38 | 22 | 7 | −27 | −1 | −5 | 63 | 43 | 20 | 28 | 50 | 43 | 30 | 29 | 20 |
| Net income | −25 | 108 | 114 | 194 | 103 | 74 | 66 | 128 | 93 | 161 | −377 | −55 | 64 | 255 | 243 | 198 | 238 | 176 |
| Diluted EPS | −$0.53 | $2.27 | $2.38 | $4.23 | $2.31 | $1.69 | $1.54 | $2.65 | $1.37 | $3.08 | −$9.37 | −$1.23 | $1.41 | $5.72 | $5.66 | $4.80 | $5.91 | $4.47 |
| Diluted shares (average) | 47m | 48m | 48m | 46m | 45m | 44m | 43m | 43m | 43m | 41m | 42m | 45m | 45m | 45m | 43m | 41m | 40m | 39m |
| EBITDA | 92 | 172 | 215 | 168 | 296 | 265 | 291 | 378 | 383 | 463 | 346 | 259 | 352 | 452 | 417 | 382 | 445 | 385 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 666 | 625 | 672 | 698 | 720 | 696 | 750 | 966 |
| Cost of revenue | 416 | 379 | 413 | 435 | 457 | 438 | 457 | 627 |
| Gross profit | 250 | 246 | 259 | 263 | 264 | 258 | 294 | 339 |
| Research and development | 29 | 28 | 34 | 34 | 33 | 30 | 32 | 55 |
| Selling, general and administrative | 137 | 132 | 132 | 139 | 131 | 139 | 148 | 212 |
| Operating income | 69 | 73 | 79 | 76 | 88 | 78 | 99 | 17 |
| Income before tax | 57 | 62 | 67 | 64 | 74 | 63 | 85 | −26 |
| Income tax | −1 | 10 | 6 | 8 | 6 | 12 | 17 | −14 |
| Net income | 58 | 52 | 61 | 57 | 68 | 51 | 69 | −11 |
| Diluted EPS | $1.41 | $1.27 | $1.53 | $1.41 | $1.70 | $1.30 | $1.74 | −$0.29 |
| EBITDA | 101 | 102 | 95 | 93 | 122 | 110 | 117 | 36 |
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