Benchmark Electronics, Inc.

BHE Technology Electronic Components

Benchmark Electronics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 17.7%, EPS grew 1,733.3%, free cash flow grew 244.1% and total debt fell 12.7%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

70.62 2.60 −3.55%
Market cap
$2.6B
P/E
47.7×
Fwd P/E
41.3×
Dividend yield
0.96%
F-score
6/9
Altman Z
3.21
Beneish M
−2.75
Dividend safety
57/100

Insider Decisions trades per month

Total sells 12.89
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 1 4 1 3 — — 4 1 — 1 — —
Insider Ownership 2.98%

Capital & Financial Ratios $m

Market Cap 2,630.00
Revenue 2,818.27
Net Income 53.14
Free Cash Flow 124.49
Net Debt (134.23)
Current Ratio 1.99 (at or above 1.5: strong)
Debt/Equity 0.16 (at or below 0.5: strong)
P/E ratio 47.72 (above 35: high)
Fwd P/E 41.30 (above 35: high)
P/S ratio 0.90
P/B ratio 2.27
Past 5Y EPS Growth 12.34%
This Y EPS Growth 23.23% (at or above 15%: strong)
Next Y EPS Growth 13.02%
Next Y revenue growth 12.93% (at or above 10%: strong)
Next 5Y EPS Growth 7.06%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 79.07%
10-year low 10-year high
P/S against its own 10 years 95.61%
10-year low 10-year high
P/B against its own 10 years 95.72%
10-year low 10-year high
EV/Sales against its own 10 years 95.61%
10-year low 10-year high
EV/FCF against its own 10 years 72.87%
10-year low 10-year high

Dividends

Payout Ratio 0.46
Annual Dividend Rate 0.68
Annual Dividend Yield 0.96%
total individual payouts
2026 0.51
0.17
0.17
0.17
2025 0.68
0.17
0.17
0.17
0.17
2024 0.67
0.17
0.17
0.17
0.17
2023 0.66
0.17
0.17
0.17
0.17
2022 0.66
0.17
0.17
0.17
0.17
2021 0.66
0.16
0.17
0.17
0.17
2020 0.64
0.16
0.16
0.16
0.16
2019 0.60
0.15
0.15
0.15
0.15
2018 0.60
0.15
0.15
0.15
0.15
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 283 328 322 315
Receivables 449 412 391 452
Inventory 684 554 483 544
Other 175 168 183 196
1,636 1,506 1,448 1,585
2023 2024 2025 Q'26
Payables 367 354 403 553
ST’ Debt 4 7 4 4
Other 205 144 116 124
714 649 636 795

Compound Annual Growth %

10y 5y 3y
Sales 0.46% 5.31% (2.70%)
Cash Flow (1.72%) 0.58% 0.00%
Earnings (12.59%) 12.07% (28.58%)
Book Value (1.82%) 2.13% 2.33%

Revenue $m

Mar Jun Sep Dec Year
’26 677 756 — — —
’25 632 642 681 704 2,659
’24 676 666 658 657 2,656
’23 695 733 720 691 2,839
’22 636 728 772 751 2,886
’21 506 545 572 633 2,255
’20 515 491 526 521 2,053
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 47 35 — — —
’25 32 (3) 37 59 124
’24 48 56 39 46 189
’23 (25) 25 38 137 174
’22 (68) (25) (31) (53) (177)
’21 37 4 (42) (1) (3)
’20 (3) 23 6 95 120
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 29 22 — — —
’25 27 (15) 25 49 86
’24 43 47 31 37 158
’23 (64) 17 18 126 97
’22 (86) (32) (40) (66) (224)
’21 30 (8) (55) (11) (45)
’20 (16) 13 0 84 81
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.36 0.55 — — —
’25 0.10 0.03 0.39 0.17 0.68
’24 0.38 0.43 0.42 0.50 1.72
’23 0.35 0.39 0.57 0.49 1.79
’22 0.31 0.49 0.53 0.60 1.91
’21 0.22 0.20 0.23 0.35 0.99
’20 0.10 (0.09) 0.16 0.21 0.38
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 18.36 29.00 20.01 20.61 14.06 22.25 21.11 20.58 25.36 30.73

Analyst estimates 2026–2028

Powerpack
High 31.20 35.80 32.53 35.90 37.36 32.56 30.00 29.46 52.57 50.26
People
People Employees 9,900 10,600 10,500 10,600 11,234 10,900 11,873 12,703 11,700 11,840
Revenue/emp, $m 0.23 0.23 0.24 0.21 0.18 0.21 0.24 0.22 0.23 0.22
Income, $m
Income, $m Revenue 2,322 2,454 2,566 2,268 2,053 2,255 2,886 2,839 2,656 2,659
Gross margin, % 9.24 9.20 8.02 8.18 8.53 9.13 8.84 9.55 10.17 10.16
EBT 69 71 56 27 17 45 84 81 84 62
EBT margin, % 2.99 2.89 2.16 1.20 0.84 2.01 2.92 2.86 3.16 2.31
Net income 64 (32) 23 23 14 36 68 69 61 25
Depreciation 55 49 52 48 49 44 44 45 46 48
Per share, $
Per share, $ Revenue 47.11 49.41 55.39 59.16 56.21 63.25 82.05 79.82 73.84 74.11
Earnings 1.30 (0.64) 0.49 0.61 0.38 1.00 1.94 1.81 1.76 0.69
Cash flow 5.54 2.94 1.66 2.43 3.30 (0.07) (5.04) 4.90 5.26 3.46
Capex (0.65) (1.09) (1.44) (0.91) (1.07) (1.18) (1.32) (2.17) (0.87) (1.05)
Free cash flow 4.89 1.84 0.22 1.52 2.23 (1.25) (6.37) 2.73 4.39 2.40
Book value 27.70 26.96 24.44 26.47 27.09 27.31 29.18 30.34 30.71 30.65
Shares, m 49 50 46 38 37 36 35 36 36 36
Valuation, ×
Valuation, × P/E 23.65 0.00 38.51 58.24 71.08 26.83 13.84 15.16 25.80 61.09
P/S 0.65 0.59 0.38 0.58 0.48 0.43 0.33 0.34 0.61 0.58
P/B 1.11 1.08 0.87 1.30 1.00 0.99 0.92 0.90 1.48 1.40
EV/Sales 0.46 0.37 0.26 0.49 0.36 0.37 0.37 0.36 0.59 0.53
EV/FCF 4.39 9.96 66.44 18.89 8.99 (18.51) (4.74) 10.47 9.89 16.50
Cash, $m
Cash, $m Operating cash flow 273 146 77 93 120 (3) (177) 174 189 124
Capex (32) (54) (66) (35) (39) (42) (46) (77) (31) (38)
Free cash flow 241 92 10 58 81 (45) (224) 97 158 86
Balance, $m
Balance, $m Working capital 1,119 1,152 866 736 721 694 903 922 857 813
Total debt 224 212 154 148 140 130 325 331 257 211
Net debt (458) (531) (304) (216) (256) (141) 118 48 (71) (112)
Shareholders’ equity 1,365 1,339 1,132 1,015 990 974 1,026 1,079 1,105 1,100
Returns, %
Returns, % ROA 3.28 (1.55) 1.14 1.28 0.80 1.96 3.30 3.06 2.77 1.18
ROIC 5.29 5.94 4.42 2.23 2.14 3.98 4.92 6.08 6.62 4.81
ROE 4.76 (2.36) 1.85 2.18 1.40 3.64 6.82 6.55 5.60 2.25
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Benchmark Electronics, Inc. vs peers in Electronic Components (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
OLED Universal Display Corporation $3.6B 18.8× 20.1× −11.43% (below 0%: shrinking) −24.82% (below 0%: shrinking) −45.68% (below 0%: shrinking) 75.82% 35.26% Compare
OSIS OSI Systems, Inc. $3.1B 21.7× 18.5× −4.14% (below 0%: shrinking) +7.92% (above 0%: growing) +1,853.69% (above 0%: growing) 34.70% 15.26% Compare
BELFA Bel Fuse Inc. $3.1B 42.9× 32.7× +25.18% (above 0%: growing) −11.33% (below 0%: shrinking) −27.35% (below 0%: shrinking) 39.85% 18.24% Compare
BELFB Bel Fuse Inc. $3.1B 50.2× 32.7× +25.18% (above 0%: growing) −11.68% (below 0%: shrinking) −27.35% (below 0%: shrinking) 39.85% 18.24% Compare
KN Knowles Corporation $3.0B 42.5× 46.6× +14.32% (above 0%: growing) +155.56% (above 0%: growing) −30.67% (below 0%: shrinking) 44.72% 14.81% Compare
BHE Benchmark Electronics, Inc. $2.6B 47.7× 41.3× +17.69% (above 0%: growing) +1,733.33% (above 0%: growing) +244.06% (above 0%: growing) 10.37% 4.00%
ROG Rogers Corporation $2.5B 76.4× 42.6× +6.90% (above 0%: growing) n/m +226.79% (above 0%: growing) 32.47% 9.23% Compare
OUST Ouster, Inc. $2.3B — (loss-making) — (loss-making) +55.86% (above 0%: growing) n/m −600.91% (below 0%: shrinking) 48.85% (36.69%) Compare
ALNT Allient Inc. $1.7B 54.2× 47.2× +10.17% (above 0%: growing) +82.35% (above 0%: growing) −59.55% (below 0%: shrinking) 34.85% 10.15% Compare
Median of peers $3.0B 42.9× 32.7× +12.25% −1.70% −29.01% 39.85% 15.04%

All 49 Electronic Components stocks →

Benchmark Electronics, Inc. (BHE) key facts

  • Benchmark Electronics, Inc. (BHE) is an Electronic Components company in the Technology sector, listed on the New York Stock Exchange.
  • Benchmark Electronics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.7 billion, roughly unchanged from fiscal 2024.
  • As of October 16, 2026, BHE traded at $70.62, a market capitalization of $2.6 billion.
  • Benchmark Electronics, Inc. pays an annual dividend of $0.68 per share, a yield of 0.96%, with a payout ratio of 46.3%.
  • Return on equity was 2.25% and debt-to-equity 0.16.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.21 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

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stockrow.com/BHE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com