Bel Fuse A (BELFA) financial statements
Bel Fuse A reported revenue of $675M in fiscal 2025, up 3.4% a year over 9 years.
Net income was $62M and the operating margin 16.4%, against -15.3% in 2016.
Free cash flow was $69M, and the company returned $3M in dividends.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Bel Fuse A's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $500M | $492M | $548M | $492M | $466M | $543M | $654M | $640M | $535M | $675M |
| Cost of revenue | $400M | $389M | $409M | $382M | $346M | $409M | $471M | $424M | $332M | $411M |
| Gross profit | $100M | $102M | $139M | $110M | $120M | $134M | $183M | $216M | $202M | $264M |
| Research and development | $27M | $29M | $29M | $27M | $24M | $22M | $20M | $22M | $24M | $31M |
| Selling, general and admin | $71M | $85M | $83M | $77M | $79M | $87M | $92M | $99M | $111M | $126M |
| Operating income | -$77M | $17M | $27M | -$2M | $19M | $31M | $65M | $88M | $64M | $111M |
| Interest expense | $7M | $7M | $5M | $5M | $5M | $4M | $3M | $3M | $4M | $15M |
| Pre-tax income | -$83M | $10M | $24M | -$7M | $12M | $27M | $59M | $83M | $62M | $95M |
| Income tax | -$18M | $22M | $3M | $1M | -$659,000 | $3M | $6M | $9M | $13M | $21M |
| Net income | -$65M | -$12M | $21M | -$9M | $13M | $25M | $53M | $74M | $41M | $62M |
| Gross margin | 20.0% | 20.8% | 25.4% | 22.3% | 25.7% | 24.7% | 28.0% | 33.7% | 37.8% | 39.1% |
| Operating margin | -15.3% | 3.5% | 4.9% | -0.3% | 4.0% | 5.8% | 10.0% | 13.8% | 12.0% | 16.4% |
| Net margin | -13.0% | -2.4% | 3.8% | -1.8% | 2.7% | 4.6% | 8.1% | 11.5% | 7.7% | 9.1% |
Balance sheet
Fiscal years, from Bel Fuse A's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $73M | $69M | $54M | $72M | $85M | $62M | $70M | $89M | $68M | $58M |
| Receivables | $74M | $79M | $92M | $76M | $71M | $87M | $107M | $84M | $111M | $121M |
| Inventory | $99M | $108M | $120M | $107M | $100M | $139M | $172M | $137M | $161M | $167M |
| Total current assets | $255M | $266M | $291M | $283M | $280M | $329M | $381M | $381M | $374M | $385M |
| Property, plant and equipment | $49M | $43M | $44M | $42M | $35M | $38M | $37M | $37M | $48M | $48M |
| Goodwill | $18M | $20M | $20M | $22M | $24M | $27M | $25M | $27M | $208M | $215M |
| Total assets | $427M | $431M | $444M | $469M | $454M | $512M | $560M | $572M | $950M | $935M |
| Total current liabilities | $92M | $87M | $106M | $90M | $88M | $112M | $136M | $111M | $128M | $127M |
| Long-term debt | $130M | $120M | $112M | $138M | $110M | $112M | $95M | $60M | $288M | $198M |
| Total liabilities | $268M | $273M | $267M | $301M | $268M | $303M | $298M | $231M | $509M | $417M |
| Shareholders' equity | $158M | $158M | $176M | $168M | $186M | $209M | $262M | $341M | $361M | $426M |
| Net debt | $68M | $53M | $60M | $71M | $31M | $51M | $25M | -$29M | $219M | $140M |
Cash flow
Fiscal years, from Bel Fuse A's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $39M | $24M | $10M | $24M | $46M | $5M | $40M | $108M | $74M | $81M |
| Capital spending | $8M | $6M | $12M | $10M | $5M | $9M | $9M | $12M | $14M | $12M |
| Free cash flow | $30M | $18M | -$1M | $15M | $41M | -$5M | $31M | $96M | $60M | $69M |
| Stock-based compensation | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $3M | $4M | $7M |
| Dividends paid | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M |
| Share buybacks (net) | — | — | — | -$448,000 | $0 | $0 | -$349,000 | -$105,000 | -$16M | $0 |
| Net borrowing | -$43M | -$19M | -$9M | -$3M | -$8M | -$105M | $0 | $0 | $0 | $8M |
| Free cash flow margin | 6.1% | 3.6% | -0.3% | 3.0% | 8.7% | -0.9% | 4.8% | 15.0% | 11.2% | 10.2% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for BELFA.
Open BELFA in InvestinglyQuestions
What was Bel Fuse A's revenue in 2025?
$675M in fiscal 2025, from its 10-K filing.
How much free cash flow does Bel Fuse A generate?
$69M in fiscal 2025 (operating cash flow minus capital spending).
From Bel Fuse A's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.