Quality Investor
MarketsPortfolioEvidenceTestedCompareWatchlistAbout 

Bel Fuse Inc.

Rank #323Op. LeverageWatchlistCompare with other stocks

BELFB · Nasdaq · Technology

Bel Fuse Inc. (BELFB) — Rank #323 by gross profitability (GP/assets 0.21) · ROE 6.8% · Piotroski F-Score N/A.

As-of 2026-10-30 · CIK 0000729580 · all metrics point-in-time as of the filing date.

About

Bel Fuse Inc. designs, manufactures, markets, and sells products that power, protect, and connect electronic circuits.

Show more

It operates in three product groups: Power Solutions and Protection, Connectivity Solutions, and Magnetic Solutions. The company's products are used in the networking, telecommunications, computing, general industrial, high-speed data transmission, defence, commercial aerospace, transportation, and e-Mobility industries. It provides power solutions and protection products, including front-end power supplies, board-mount power products, industrial and transportation power products, military, aerospace and defense products, external power products, and circuit protection products. The company offers connectivity solutions, such as expanded beam fiber optic connectors, cable assemblies, and active optical devices; copper-based connectors/cable assemblies; radio frequency connectors, cable assemblies, microwave devices, and low loss cables; and ethernet, I/O, and industrial and power connectivity products. In addition, it provides magnetic solutions comprising integrated connector modules, power transformers, SMD power inductors and SMPS transformers, and discrete components-ethernet. The company sells its products through direct strategic account managers, regional sales managers working with independent sales representative organizations, and authorized distributors North America, Europe, Middle East, and Asia. Bel Fuse Inc.

was incorporated in 1949 and is headquartered in West Orange, New Jersey.

Industry
Electronic Components
Sector
Technology
State
NJ
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$3.27B

P/E (annual)

—

P/S (annual)

4.8

P/B

3.6

P/OCF (annual)

40.6

Shareholder Yield

—

Employees

4,964

Industry

Electronic Components

Exchange

Nasdaq

10/10

Flags passed

BELFB passes 10/10 quality flags

  • PASS
    Gross margin holding
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin

Strengths Revenue growth accelerating · Operating leverage expanding · Deferred revenue growing

No data Dilution · Valuation — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.21
Return on equity
6.8%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.28
Current ratio
4.48×
Net cash
$306.11M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.0%

Growth

1/1 pass
Revenue growth
26.3%
Piotroski F-Score
N/A
Share dilution
—

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 37th percentile of 47 SIC 36 peers

Gross profitability (GP / assets)

0.21

Primary signal (Novy-Marx).

37th pctl of 47 SIC 36 peers

Return on equity

6.8%

Gross margin

39.1%

39th pctl of 47 SIC 36 peers

Revenue growth (YoY)

26.3%

RPO growth (YoY)

21.7%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

1.1%

Revenue CAGR (5Y)

7.7%

Earnings CAGR (3Y)

5.3%

FCF CAGR (3Y)

29.7%

Cash Flow Health

Is the cash real?

No warning flags · FCF 11% above net income

Free cash flow

$68.61M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

11.5%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.0%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $306.11M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.28

80th pctl of 45 SIC 36 peers (best = lowest)

Current ratio

4.48×

80th pctl of 47 SIC 36 peers

Quick ratio

2.96×

Net cash

$306.11M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 8/9 components determinable.

Valuation

Is the price reasonable?

No data

Dividend safety

Composite score

3.2 / 5

Good
Payout ratio
5.6%5/5 Strong
FCF coverage
19.80×5/5 Strong
Dividend growth streak
1 yr1/5 Weak
Balance-sheet health
D/E 0.28 · IC N/A2/5 Fair

Capital allocation quality

Composite score

2.0 / 5

Fair
Share count trend
N/A0/5 Weak
Buyback timing
N/AN/A
Dividend growth consistency
1 yr1/5 Weak
Net debt trajectory(deleveraging)
8.5%5/5 Strong

Lifecycle Phase History

20202025
Value
Capital Return
Op. Leverage
Decline

Price History

BELFB+1823.5% · +80.4% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports