Bel Fuse Inc
NASDAQ:BELFB
Bel Fuse Inc
Nestled in the bustling heart of the electronics industry, Bel Fuse Inc. stands as a pivotal player in the world of connectivity and power solutions. Founded in 1949, this New Jersey-based company has woven itself into the fabric of modern electronic infrastructure with its expansive portfolio of products. At its core, Bel Fuse thrives on the intricate business of designing and manufacturing magnetic components, protecting circuits, and connecting devices seamlessly. They cater to a diverse clientele across industries such as telecommunications, aerospace, and automotive, providing essential hardware that enables the crucial exchange of power and data. By focusing on high-quality, reliable components like power transformers, DC-DC converters, and circuit protection devices, Bel Fuse makes the invisible backbone of our technologically-driven world function smoothly.
Bel Fuse's revenue streams are anchored in the diverse needs of its global clients, adeptly positioning itself to capitalize on the relentless demand for improved connectivity. The company achieves this by engaging in a multifaceted operational strategy, which includes the production of versatile, custom-tailored solutions alongside mass-market offerings. A shrewd view of market trends allows the company to maintain a sturdy moat around its business, adapting to the ever-evolving technological landscapes. It continues to build strategic acquisitions and partnerships, further solidifying its position in the market and streamlining its supply chain. With this robust foundation, Bel Fuse makes its money by offering essential solutions that are critical to the efficient functioning of electronics globally, ensuring it remains a consistent force within the industry landscape.
Nestled in the bustling heart of the electronics industry, Bel Fuse Inc. stands as a pivotal player in the world of connectivity and power solutions. Founded in 1949, this New Jersey-based company has woven itself into the fabric of modern electronic infrastructure with its expansive portfolio of products. At its core, Bel Fuse thrives on the intricate business of designing and manufacturing magnetic components, protecting circuits, and connecting devices seamlessly. They cater to a diverse clientele across industries such as telecommunications, aerospace, and automotive, providing essential hardware that enables the crucial exchange of power and data. By focusing on high-quality, reliable components like power transformers, DC-DC converters, and circuit protection devices, Bel Fuse makes the invisible backbone of our technologically-driven world function smoothly.
Bel Fuse's revenue streams are anchored in the diverse needs of its global clients, adeptly positioning itself to capitalize on the relentless demand for improved connectivity. The company achieves this by engaging in a multifaceted operational strategy, which includes the production of versatile, custom-tailored solutions alongside mass-market offerings. A shrewd view of market trends allows the company to maintain a sturdy moat around its business, adapting to the ever-evolving technological landscapes. It continues to build strategic acquisitions and partnerships, further solidifying its position in the market and streamlining its supply chain. With this robust foundation, Bel Fuse makes its money by offering essential solutions that are critical to the efficient functioning of electronics globally, ensuring it remains a consistent force within the industry landscape.
Record Results: Bel Fuse reported record revenue of $675.5 million for 2025, up 26.3% from 2024, and record EPS, driven by strong performance across all segments.
Q4 Performance: Fourth quarter sales grew 17.4% year-over-year to $175.9 million, with notable margin expansion—gross margin for Q4 reached 39.4%, up from 37.5% last year.
Aerospace & Defense Growth: Aerospace and defense made up 38% of consolidated sales for the year, with both defense and commercial aerospace contributing to growth.
Strong Bookings: The full-year book-to-bill ratio was 1.1, and strengthened to 1.3 in Q4, with robust order momentum heading into 2026.
Margin Expansion: Gross margin for the year improved to 39.1% from 37.8% in 2024, supported by better absorption of fixed costs and operational efficiencies.
Cost & FX Headwinds: The company faced higher input costs (notably gold, copper, and PCBs) and unfavorable FX, but is taking pricing actions to offset these pressures.
Q1 2026 Guidance: Sales are expected in the range of $165 million to $180 million with gross margin between 37% and 39%, reflecting some seasonal and cost headwinds.
Debt Reduction: Bel Fuse paid down $90 million in long-term debt in 2025, ending the year with $197.5 million in total debt and $57.8 million in cash.
