BDC on NYSE

Belden Incorporated

American technology company

Belden Inc. is an American multinational company that designs, manufactures, and distributes networking, connectivity, cable, and security products.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1902Founded1

Compare with ASIA PACIFIC WIRE & CABLE CORP LTD, Corning Inc. or Optical Cable Corporation, or pick any stock.

  • TickerBDC on NYSE1
  • Industryelectronics1
  • HeadquartersSt. Louis1
  • Websitewww.belden.com
  • Legal formDelaware corporation1
  • Incorporated inDE4
  • Business address1 North Brentwood Blvd, 15Th Floor, St. Louis, Mo 631054
  • Filer categoryLarge accelerated filer4

Belden Inc. is an American multinational company that designs, manufactures, and distributes networking, connectivity, cable, and security products. Headquartered in St. Louis, Missouri, the company is publicly traded on the New York Stock Exchange under the ticker symbol BDC and is a component of the S&P 400. Belden serves industrial automation, enterprise, smart-building, and broadband markets.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

38.0%Gross margin6
11.6%Operating margin6
8.7%Net margin6
10.3%Revenue growth, 20256
18.8%Return on equity6
1.02×Debt to equity6
$218.7MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Automation Solutions brought in 55% of the revenue Belden Incorporated broke down this way in fiscal 2025.

  1. Automation Solutions$1.5B655%up 14% from 2024
  2. Broadband Solutions$633.5M623%up 6% from 2024
  3. Smart Buildings Solutions$585.9M622%up 7% from 2024
  4. Affiliated Revenue$1.2M60%up 28% from 2024
Products and services by year
Products and services202320242025
Automation Solutions$1.4B$1.3B$1.5B
Broadband Solutions$555.0M$598.2M$633.5M
Smart Buildings Solutions$567.8M$545.6M$585.9M
Affiliated Revenue$1.4M$943.0K$1.2M

Business segments

Automation Solutions brought in 55% of the revenue Belden Incorporated broke down this way in fiscal 2025.

  1. Automation Solutions$1.5B655%up 14% from 2024
  2. Smart Infrastructure Solutions$1.2B645%up 7% from 2024
Business segments by year
Business segments202320242025
Automation Solutions$1.4B$1.3B$1.5B
Smart Infrastructure Solutions$1.1B$1.1B$1.2B

Regions

United States brought in 44% of the revenue Belden Incorporated broke down this way in fiscal 2025.

  1. United States$1.6B644%up 13% from 2024
  2. Other Countries$708.5M620%up 1% from 2024
  3. EMEA$556.7M615%up 9% from 2024
  4. Asia Pacific$337.5M69%up 7% from 2024
  5. Canada$188.9M65%up 18% from 2024
  6. Germany$139.2M64%up 18% from 2024
  7. China$99.2M63%up 8% from 2024
Regions by year
Regions202320242025
United States$1.4B$1.4B$1.6B
Other Countries$720.9M$698.3M$708.5M
EMEA$566.3M$508.4M$556.7M
Asia Pacific$333.0M$316.7M$337.5M
Canada$169.1M$160.0M$188.9M
Germany$134.1M$118.3M$139.2M
China$104.7M$92.1M$99.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue62¢$1.7B
  • Research and development5¢$128.8M
  • Selling, general and admin20¢$533.4M
  • Other costs4¢$102.2M
  • Income tax1¢$29.3M
  • Profit9¢$237.5M

Out of $2.7B in revenue.6

Where each dollar of operating cash went, fiscal 2025

  • Capital spending38¢$136.2M
  • Dividends paid2¢$8.0M
  • Kept or used elsewhere59¢$210.7M

Out of $354.9M of cash from operations.6

Financial statements

Revenue789106$2.7B in 2025+27% since 2019
0$1.0B$2.0B$3.0B2019: $2.1B$2.1B20192020: $1.8B$1.8B2020−18%2021: $2.3B$2.3B2021+31%2022: $2.6B$2.6B2022+13%2023: $2.5B$2.5B2023−4%2024: $2.5B$2.5B2024−2%2025: $2.7B$2.7B2025+10%
Gross profit789106$1.0B in 2025+30% since 2019
0$500.0M$1.0B$1.5B2019: $793.5M$793.5M20192020: $575.6M$575.6M2020−27%2021: $771.8M$771.8M2021+34%2022: $916.3M$916.3M2022+19%2023: $955.0M$955.0M2023+4%2024: $922.2M$922.2M2024−3%2025: $1.0B$1.0B2025+12%
Operating income789106$315.7M in 2025+52% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $207.2M$207.2M20192020: $150.1M$150.1M2020−28%2021: $263.7M$263.7M2021+76%2022: $363.3M$363.3M2022+38%2023: $317.5M$317.5M2023−13%2024: $266.5M$266.5M2024−16%2025: $315.7M$315.7M2025+18%
Net income789106$237.5M in 2025
-$400.0M-$200.0M0$200.0M$400.0M2019: -$377.0M-$377.0M20192020: -$55.2M-$55.2M2020−85%2021: $63.9M$63.9M20212022: $254.7M$254.7M2022+298%2023: $242.8M$242.8M2023−5%2024: $198.4M$198.4M2024−18%2025: $237.5M$237.5M2025+20%

Every line of the income statement in the latest annual report, as filed.6

Period ending2025-12-312024-12-312023-12-31
Revenues$2.7B$2.5B$2.5B
Cost of sales-$1.7B-$1.5B-$1.6B
Gross profit$1.0B$922.2M$955.0M
Selling, general and administrative expenses-$533.4M-$494.6M-$492.7M
Research and development expenses-$128.8M-$112.4M-$116.4M
Amortization of intangibles-$53.4M-$48.8M-$40.4M
Gain on sale of assets$0$0$12.1M
Operating income$315.7M$266.5M$317.5M
Interest expense, net-$46.4M-$38.3M-$33.6M
Loss related to revolver refinancing-$76.0K$0$0
Non-operating pension benefit (cost)-$2.4M-$215.0K$1.9M
Income before taxes$266.9M$227.9M$285.8M
Income tax expense-$29.3M-$29.5M-$43.2M
Net income$237.5M$198.4M$242.6M
Less: Net loss attributable to noncontrolling interest$0-$19.0K-$203.0K
Net income attributable to Belden common stockholders$237.5M$198.4M$242.8M
Basic (in shares)39.6M shares40.7M shares42.2M shares
Diluted (in shares)40.2M shares41.3M shares42.9M shares
Basic income per share attributable to Belden common stockholders (in dollars per share)$6.00$4.88$5.75
Diluted income per share attributable to Belden common stockholders (in dollars per share)$5.91$4.80$5.66

Compare Belden Incorporated with another company

The story

Founding and early years

Belden was founded in Chicago, Illinois, in 1902 by Joseph C. Belden as the Belden Manufacturing Company. A former purchasing agent for the Kellogg Switchboard & Supply Company, Belden started the company to produce the high-quality silk-wrapped magnet wire used in telephone switchboard coils. In 1910 the company introduced an enamel wire insulation marketed as "Beldenamel," which became an industry standard. Over the following decades Belden expanded into electrical wiring, cable, and signal-transmission products used in radio broadcasting, television, industrial automation, and computer networking.

Cooper Industries and 1993 spin-off

In 1980 Belden was acquired by the Crouse-Hinds Company, which was itself acquired by Cooper Industries in 1981, making Belden a division of Cooper Industries. In 1993 Belden was spun off as an independent, publicly traded company listed on the New York Stock Exchange, with corporate headquarters in St. Louis, Missouri.

Merger with Cable Design Technologies

In 2004 Belden merged with the Cable Design Technologies Corporation (CDT) to form Belden CDT Inc., which later resumed the name Belden Inc. In 2005, John Stroup was appointed president and chief executive officer. Under Stroup, Belden pursued a series of acquisitions in industrial networking, broadband, cybersecurity, and connectivity, expanding beyond its traditional wire-and-cable business.

Acquisitions during this period included Hirschmann and Lumberg Automation (2007), Telecast Fiber Systems (2009), GarrettCom (2010), Byres Security and Poliron (2011), Miranda Technologies and PPC (2012), and OTN Systems (2021).

Recent developments

In February 2023, Belden appointed Ashish Chand as president and chief executive officer. In April 2023, as part of a community program, Belden donated $100,000 to the Richmond Fire Department in Richmond, Indiana, to fund firefighting equipment upgrades.

For the 2024 fiscal year, Belden reported revenues of approximately $2.46 billion and net income of $198.4 million. The company reported record revenues of about $2.72 billion for the 2025 fiscal year.

On July 1, 2026, Belden completed its acquisition of RUCKUS Networks from Vistance Networks in a cash transaction valued at approximately $1.87 billion, net of cash acquired. The deal, funded in part by a $1.85 billion senior secured term loan, added enterprise Wi-Fi, Ethernet switching, and AI-driven network-management platforms to Belden's portfolio, which the company said strengthened its position as a provider of end-to-end information technology (IT) and operational technology (OT) networking solutions.

From Wikipedia’s article on Belden Incorporated, shared under CC BY-SA 4.0.5

Products and brands

  • coaxial

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

  • Belden (Germany)
  • PPC Broadband, Inc.

Also owns

  • Tripwire

From Wikidata.1

Acquisitions

  1. 2012Acquired PPC Broadband, Inc.1

Former names

  • BELDEN CDT INC.Jul 19, 2004 to May 23, 20074
  • CABLE DESIGN TECHNOLOGIES CORPFeb 14, 1994 to Jul 16, 20044

Timeline

  1. 1902Founded Founded1

Recent filings

  1. Sep 16, 20264
  2. Sep 15, 2026144
  3. Sep 11, 20268-K/A
  4. Aug 13, 20264
  5. Aug 10, 20264
  6. Aug 5, 20264
  7. Jul 30, 20268-K
  8. Jul 30, 202610-Q
  9. Jul 7, 20264
  10. Jul 7, 20264
  11. Jul 7, 20264
  12. Jul 7, 20264
  13. Jul 7, 20264
  14. Jul 7, 20264
  15. Jul 6, 20263

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2