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Bel Fuse Prices US$399 Million Offering to Acquire Enercon Stake and Repay Debt Bel Fuse priced an upsized underwritten public offering of 1.5 million Class B common shares at US$266.00 per share.
Underwriters have an option to buy an additional 225,000 shares, with closing expected on 15 May 2026 subject to standard conditions.
The company plans to use the net proceeds to repay debt, buy the remaining 20% of Enercon Technologies, Ltd., and fund potential acquisitions, partnerships, and general corporate needs, while the stock fell 4.3% following the announcement, reflecting dilution concerns.
The key trade-off here is short-term dilution and a negative share price reaction versus gaining full ownership of Enercon Technologies and reducing debt.
If you are following the stock, it is worth weighing how comfortable you are with equity issuance to fund acquisitions and balance sheet changes, and how important full control of Enercon and a lower debt load are to your thesis. Aankondiging • May 15
Bel Fuse Inc. has completed a Follow-on Equity Offering in the amount of $399 million. Bel Fuse Inc. has completed a Follow-on Equity Offering in the amount of $399 million.
Security Name: Class B Common Stock
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: $266
Discount Per Security: $9.975 Aankondiging • May 14
Bel Fuse Inc. has filed a Follow-on Equity Offering. Bel Fuse Inc. has filed a Follow-on Equity Offering.
Security Name: Class B Common Stock
Security Type: Common Stock
Securities Offered: 1,300,000 Aankondiging • May 02
Bel Fuse Inc. Provides Earnings Guidance for the Second Quarter of 2026 Bel Fuse Inc. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects to have a strong second quarter, guiding sales of $195 million to $215 million with gross margin of 38%-40%, supported by robust bookings and higher demand from defense, commercial air, space, and data solutions customers. Aankondiging • Apr 16
Bel Fuse Inc. to Report Q1, 2026 Results on Apr 29, 2026 Bel Fuse Inc. announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Aankondiging • Apr 13
Bel Fuse Inc., Annual General Meeting, May 26, 2026 Bel Fuse Inc., Annual General Meeting, May 26, 2026. Recent Insider Transactions Derivative • Mar 16
Non-Executive Chairman of the Board notifies of intention to sell stock Daniel Bernstein intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of March. If the sale is conducted around the recent share price of US$202, it would amount to US$1.3m. Since June 2025, Daniel's direct individual holding has decreased from 418.54k shares to 415.28k. There has only been one transaction (US$670k sale) from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$173, the stock trades at a forward P/E ratio of 28x. Average forward P/E is 21x in the Electronic industry in the US. Total returns to shareholders of 414% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$203 per share. Recent Insider Transactions • Mar 05
President recently sold US$670k worth of stock On the 25th of February, Farouq Tuweiq sold around 3k shares on-market at roughly US$216 per share. This transaction amounted to 68% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Farouq's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Feb 26
President notifies of intention to sell stock Farouq Tuweiq intends to sell 26k shares in the next 90 days after lodging an Intent To Sell Form on the 25th of February. If the sale is conducted around the recent share price of US$236, it would amount to US$6.1m. For the year to December 2021, Farouq's total compensation was 39% salary and 61% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Farouq has owned 66.19k shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Declared Dividend • Feb 25
Fourth quarter dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 15th April 2026 Payment date: 1st May 2026 Dividend yield will be 0.1%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 5%. Cash payout ratio: 4%. Aankondiging • Feb 21
Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable on May 1, 2026 Bel Fuse Inc. announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on May 1, 2026 to shareholders of record on April 15, 2026. Reported Earnings • Feb 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$4.87 (up from US$3.25 in FY 2024). Revenue: US$675.5m (up 26% from FY 2024). Net income: US$61.5m (up 50% from FY 2024). Profit margin: 9.1% (up from 7.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 25%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 71% per year, which means it is well ahead of earnings. Aankondiging • Feb 18
Bel Fuse Inc. Provides Earnings Guidance for the First Quarter of 2026 Bel Fuse Inc. provided earnings guidance for the first quarter of 2026. For the quarter, the company estimates net sales of $165 million to $180 million. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$221, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 22x in the Electronic industry in the US. Total returns to shareholders of 438% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$168 per share. Aankondiging • Feb 05
Bel Fuse Inc. to Report Q4, 2025 Results on Feb 17, 2026 Bel Fuse Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 17, 2026 Buy Or Sell Opportunity • Feb 02
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to US$198. The fair value is estimated to be US$163, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Earnings per share has declined by 4.4%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 30% in the next 2 years. Upcoming Dividend • Jan 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 January 2026. Payment date: 30 January 2026. Payout ratio is a comfortable 4.6% and this is well supported by cash flows. Trailing yield: 0.1%. Lower than top quartile of American dividend payers (4.4%). Lower than average of industry peers (1.0%). Recent Insider Transactions Derivative • Nov 19
Non-Executive Chairman of the Board notifies of intention to sell stock Daniel Bernstein intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 17th of November. If the sale is conducted around the recent share price of US$148, it would amount to US$443k. Since December 2024, Daniel's direct individual holding has increased from 416.03k shares to 418.28k. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$116, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 18x in the Electronic industry in the US. Total returns to shareholders of 234% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$159 per share. Buy Or Sell Opportunity • Nov 14
Now 23% undervalued Over the last 90 days, the stock has risen 9.4% to US$123. The fair value is estimated to be US$159, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.5% over the last 3 years. Earnings per share has declined by 4.4%. Revenue is forecast to grow by 15% in 2 years. Earnings are forecast to grow by 29% in the next 2 years. Declared Dividend • Nov 03
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 15th January 2026 Payment date: 30th January 2026 Dividend yield will be 0.2%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 5%. Cash payout ratio: 7%. Aankondiging • Nov 01
Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable January 30, 2026 BEL FUSE INC. announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on January 30, 2026 to shareholders of record on January 15, 2026. Reported Earnings • Oct 30
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$1.76 (up from US$0.64 in 3Q 2024). Revenue: US$179.0m (up 45% from 3Q 2024). Net income: US$22.3m (up 175% from 3Q 2024). Profit margin: 12% (up from 6.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 35%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 61% per year, which means it is well ahead of earnings. Aankondiging • Oct 09
Bel Fuse Inc. to Report Q3, 2025 Results on Oct 29, 2025 Bel Fuse Inc. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 29, 2025 Upcoming Dividend • Oct 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 October 2025. Payment date: 31 October 2025. Payout ratio is a comfortable 5.9% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (0.9%). Buy Or Sell Opportunity • Sep 12
Now 22% undervalued Over the last 90 days, the stock has risen 51% to US$118. The fair value is estimated to be US$151, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 14% in a year. Earnings are forecast to grow by 44% in the next year. Declared Dividend • Aug 04
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 15th October 2025 Payment date: 31st October 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 6%. Valuation Update With 7 Day Price Move • Jul 31
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to US$115, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 18x in the Electronic industry in the US. Total returns to shareholders of 306% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$162 per share. Aankondiging • Jul 31
BEL FUSE Inc. Declares Regular Quarterly Cash Dividend on Class A and Class B Shares, Payable on October 31, 2025 BEL FUSE INC. announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on October 31, 2025 to shareholders of record on October 15, 2025. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$2.12 (up from US$1.49 in 2Q 2024). Revenue: US$168.3m (up 26% from 2Q 2024). Net income: US$26.9m (up 43% from 2Q 2024). Profit margin: 16% (up from 14% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 102%. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 55% per year, which means it is well ahead of earnings. Aankondiging • Jul 25
Bel Fuse Inc. Provides Earnings Guidance for Third Quarter of 2025 Bel Fuse Inc. provided earnings guidance for third quarter of 2025. For Q3, based on information available, The company anticipates net sales of $165 million to $180 million. Aankondiging • Jul 11
Bel Fuse Inc. to Report Q2, 2025 Results on Jul 24, 2025 Bel Fuse Inc. announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Upcoming Dividend • Jul 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 July 2025. Payment date: 01 August 2025. Payout ratio is a comfortable 7.0% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (1.1%). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$76.00, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 18x in the Electronic industry in the US. Total returns to shareholders of 252% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$140 per share. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$72.65, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Electronic industry in the US. Total returns to shareholders of 245% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$143 per share. Declared Dividend • May 02
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 15th July 2025 Payment date: 1st August 2025 Dividend yield will be 0.4%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 5%. Recent Insider Transactions Derivative • May 01
President notifies of intention to sell stock Daniel Bernstein intends to sell 7k shares in the next 90 days after lodging an Intent To Sell Form on the 30th of April. If the sale is conducted around the recent share price of US$65.82, it would amount to US$438k. For the year to December 2018, Daniel's total compensation was 30% salary and 70% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2024, Daniel's direct individual holding has increased from 416.03k shares to 425.16k. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Aankondiging • Apr 29
Bel Fuse Inc. Declares Regular Quarterly Cash Dividend on Class A and Class B Shares, Payable on August 1, 2025 BEL FUSE INC announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on August 1, 2025 to shareholders of record on July 15, 2025. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$1.42 (up from US$1.25 in 1Q 2024). Revenue: US$152.2m (up 19% from 1Q 2024). Net income: US$17.9m (up 13% from 1Q 2024). Profit margin: 12% (in line with 1Q 2024). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 65%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 25
Bel Fuse Inc. Provides Earnings Guidance for the Second Quarter of 2025 Bel Fuse Inc. provided earnings guidance for the second quarter of 2025. GAAP net sales in the second quarter of 2025 are projected to be in the range of $145 to $155 million, with gross margin in the range of 37% to 39%. Aankondiging • Apr 14
Bel Fuse Inc., Annual General Meeting, May 27, 2025 Bel Fuse Inc., Annual General Meeting, May 27, 2025. Aankondiging • Apr 12
Bel Fuse Inc. to Report Q1, 2025 Results on Apr 24, 2025 Bel Fuse Inc. announced that they will report Q1, 2025 results After-Market on Apr 24, 2025 Upcoming Dividend • Apr 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 April 2025. Payment date: 01 May 2025. Payout ratio is a comfortable 7.4% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of American dividend payers (5.1%). Lower than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$63.99, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Electronic industry in the US. Total returns to shareholders of 210% over the past three years. Reported Earnings • Mar 03
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: US$3.25 (down from US$5.78 in FY 2023). Revenue: US$534.8m (down 16% from FY 2023). Net income: US$41.0m (down 45% from FY 2023). Profit margin: 7.7% (down from 12% in FY 2023). Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 23%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 58% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Mar 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (51% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.7% net profit margin). Declared Dividend • Feb 21
Fourth quarter dividend of US$0.06 announced Dividend of US$0.06 is the same as last year. Ex-date: 15th April 2025 Payment date: 1st May 2025 Dividend yield will be 0.3%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 5%. New Risk • Feb 19
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 49% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (49% net debt to equity). Profit margins are more than 30% lower than last year (7.7% net profit margin). Aankondiging • Feb 19
Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on Its Class A and Class B Shares, Payable on May 1, 2025 Bel Fuse Inc. announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on May 1, 2025 to shareholders of record on April 15, 2025. Aankondiging • Feb 06
Farouq Tuweiq to Vacate His Role as Chief Financial Officer of Bel Fuse Inc Bel Fuse Inc. announced that Farouq Tuweiq will vacate his current role as Chief Financial Officer on 2025 Annual Meeting of Shareholders to be held on May 27, 2025, with the Board having initiated a search process to identify a successor CFO for the Company. Tuweiq joined Bel in 2021 as the Company’s Chief Financial Officer. During the past four years, he has been instrumental in transforming Bel’s corporate strategy and financial discipline which have been strong drivers in leading to Bel’s record performance. From his start, Tuweiq has been a strategic partner with Bernstein and the executive team, capitalizing on the solid foundation of Bel’s quality products and customer base that Bernstein has built over the years. Aankondiging • Feb 05
Bel Fuse Inc. Announces Chief Executive Officer Changes, Effective May 27, 2025 The Board of Directors of Bel Fuse Inc. announced an upcoming transition in the Chief Executive Officer position at Bel. After 24 years as Bel’s Chief Executive Officer and 46 total years of service at the Company, Daniel Bernstein will step down as Chief Executive Officer effective immediately following Bel’s 2025 Annual Meeting of Shareholders, currently scheduled for May 27, 2025. Bernstein will transition to the role of Non-Executive Chairman of the Board of Directors on that same date. As part of the leadership change, Bel’s Board of Directors has appointed Farouq Tuweiq to serve as the Company’s next Chief Executive Officer, effective immediately following Bel’s 2025 Annual Meeting of Shareholders. On May 27, 2025, Tuweiq will become Bel’s President and CEO. Tuweiq joined Bel in 2021 as the Company’s Chief Financial Officer. During the past four years, he has been instrumental in transforming Bel’s corporate strategy and financial discipline which have been strong drivers in leading to Bel’s record performance. From his start, Tuweiq has been a strategic partner with Bernstein and the executive team, capitalizing on the solid foundation of Bel’s quality products and customer base that Bernstein has built over the years. Aankondiging • Feb 04
Bel Fuse Inc. Announces Executive Changes The Board of Directors of Bel Fuse Inc. announced an upcoming transition in the Chief Executive Officer position at Bel. After 24 years as Bel’s Chief Executive Officer and 46 total years of service at the Company, Daniel Bernstein will step down as President effective immediately following Bel’s 2025 Annual Meeting of Shareholders, currently scheduled for May 27, 2025. Bernstein will transition to the role of Non-Executive Chairman of the Board of Directors on that same date. As part of the leadership change, Bel’s Board of Directors has appointed Farouq Tuweiq to serve as the Company’s next President, effective immediately following Bel’s 2025 Annual Meeting of Shareholders. The Board of Directors has also approved the expansion of Bel’s Board to ten directors and appointed Tuweiq as a director on Bel’s Board, with such expansion and appointment to be effective on the date of Bel’s annual shareholder meeting scheduled for May 27, 2025. On May 27, 2025, Tuweiq will become Bel’s President. Tuweiq joined Bel in 2021 as the Company’s Chief Financial Officer. During the past four years, he has been instrumental in transforming Bel’s corporate strategy and financial discipline which have been strong drivers in leading to Bel’s record performance. From his start, Tuweiq has been a strategic partner with Bernstein and the executive team, capitalizing on the solid foundation of Bel’s quality products and customer base that Bernstein has built over the years. Aankondiging • Feb 03
Bel Fuse Inc. to Report Q4, 2024 Results on Feb 18, 2025 Bel Fuse Inc. announced that they will report Q4, 2024 results After-Market on Feb 18, 2025 Upcoming Dividend • Jan 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 January 2025. Payment date: 31 January 2025. Payout ratio is a comfortable 5.5% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of American dividend payers (4.5%). Lower than average of industry peers (1.3%). Aankondiging • Nov 14
Bel Fuse Inc. (NasdaqGS:BELF.A) completed the acquisition of 80% stake in Enercon Technologies, Ltd. from Fortissimo fund managed by Fortissimo Capital Management Ltd. Bel Fuse Inc. (NasdaqGS:BELF.A) entered into a definitive agreement to acquire 80% stake in Enercon Technologies, Ltd. from Fortissimo fund managed by Fortissimo Capital Management Ltd. for $330 million on September 18, 2024. The consideration consists of $320 million in cash, which is subject to customary adjustments, and $10 million in earnout related payments for the 2025-2026 period. The transaction also includes the intent to purchase the remaining 20% in Enercon Technologies by early 2027 based on future EBITDA performance. The transaction will be financed through a combination of cash on hand and an expansion of its existing credit facility. KeyBank National Association, Bank of America, N.A, PNC Bank, National Association, BMO Bank N.A. and HSBC Bank USA, National Association provided the loan for financing the transaction. Shmoulik Barashi and Yochai Hacohen, both Enercon board members and partners at Fortissimo Capital will continue to be members of the Enercon board post transaction. The transaction is subject to customary closing conditions, including applicable regulatory approvals and is expected to close by the end of 2024.
Evercore Inc. acted as financial advisor to Bel Fuse Inc. Citigroup Inc. acted as financial advisor to Enercon Technologies, Ltd. White & Case LLP acted as legal advisor to Bel Fuse Inc. Meitar Liquornik Geva Leshem Tal & Co acted as legal advisor to Bel Fuse Inc. Gornitzky & Co. acted as legal advisor to Enercon Technologies, Ltd. Needham & Company, LLC acted as fairness opinion provider to the board of directors of Bel Fuse Inc. Chaim Friedland, Assaf Harel, Nir Knoll of Gornitzky & Co. acted as legal advisor to Fortissimo fund in the sale of 80% of its holdings in Enercon to Bel Fuse.
Bel Fuse Inc. (NasdaqGS:BELF.A) completed the acquisition of 80% stake in Enercon Technologies, Ltd. from Fortissimo fund managed by Fortissimo Capital Management Ltd. on November 14, 2024. Declared Dividend • Nov 03
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 15th January 2025 Payment date: 31st January 2025 Dividend yield will be 0.2%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 4%. Board Change • Nov 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 5 highly experienced directors. Independent Director David Valletta was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$0.64 (vs US$1.52 in 3Q 2023) Third quarter 2024 results: EPS: US$0.64 (down from US$1.52 in 3Q 2023). Revenue: US$123.6m (down 22% from 3Q 2023). Net income: US$8.08m (down 59% from 3Q 2023). Profit margin: 6.5% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.1% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Oct 24
Bel Fuse Inc. Provides Earnings Guidance for the Fourth Quarter of 2024 Bel Fuse Inc. provided earnings guidance for the fourth quarter of 2024. For the fourth quarter of 2024, The company expects GAAP net sales in the range of $117 million to $125 million. Buy Or Sell Opportunity • Oct 23
Now 20% undervalued Over the last 90 days, the stock has risen 14% to US$102. The fair value is estimated to be US$128, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to decline by 4.7% in a year. Earnings are forecast to decline by 10.0% in the next year. Aankondiging • Oct 15
Bel Fuse Inc. Announces the Appointment of Umasankar Pingali as Global Head of Sales and Marketing Bel Fuse Inc. announced its appointment of Uma Pingali as Global Head of Sales and Marketing, a newly created role. With over 30 years of management experience in global sales, marketing, business development within the electronic industry, Uma is uniquely positioned to lead and accelerate Bel’s sales and marketing organizations. His experience with integrating various sales teams that have joined via acquisitions will be very helpful for Bel with the company's history of acquisitions. Uma started his career in India and has lived and led sales organizations there and in Singapore, China, Hong Kong and the U.S. In his most recent role as President of Global Sales at Farnell, based in Chicago, Uma managed a team of 600+ people in driving a $1.6 billion global sales organization. Aankondiging • Oct 10
Bel Fuse Inc. to Report Q3, 2024 Results on Oct 23, 2024 Bel Fuse Inc. announced that they will report Q3, 2024 results After-Market on Oct 23, 2024 Upcoming Dividend • Oct 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 October 2024. Payment date: 01 November 2024. Payout ratio is a comfortable 4.6% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of American dividend payers (4.3%). Lower than average of industry peers (1.3%). Buy Or Sell Opportunity • Oct 03
Now 21% undervalued Over the last 90 days, the stock has risen 27% to US$101. The fair value is estimated to be US$129, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 41%. Revenue is forecast to decline by 4.7% in a year. Earnings are forecast to decline by 10.0% in the next year. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$102, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 15x in the Electronic industry in the US. Total returns to shareholders of 629% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$128 per share. Aankondiging • Sep 19
Bel Fuse Inc. (NasdaqGS:BELF.A) entered into a definitive agreement to acquire 80% stake in Enercon Technologies, Ltd. from Fortissimo Capital Management Ltd. for $330 million. Bel Fuse Inc. (NasdaqGS:BELF.A) entered into a definitive agreement to acquire 80% stake in Enercon Technologies, Ltd. from Fortissimo Capital Management Ltd. for $330 million on September 18, 2024. The consideration consists of $320 million in cash, which is subject to customary adjustments, and $10 million in earnout related payments for the 2025-2026 period. The transaction also includes the intent to purchase the remaining 20% in Enercon Technologies by early 2027 based on future EBITDA performance. The transaction will be financed through a combination of cash on hand and an expansion of its existing credit facility. Shmoulik Barashi and Yochai Hacohen, both Enercon board members and partners at Fortissimo Capital will continue to be members of the Enercon board post transaction. The transaction is subject to customary closing conditions, including applicable regulatory approvals and is expected to close by the end of 2024.
Evercore Inc. acted as financial advisor to Bel Fuse Inc. Citigroup Inc. acted as financial advisor to Enercon Technologies, Ltd. White & Case LLP acted as legal advisor to Bel Fuse Inc. Meitar Liquornik Geva Leshem Tal & Co acted as legal advisor to Bel Fuse Inc. Gornitzky & Co. acted as legal advisor to Enercon Technologies, Ltd. Needham & Company, LLC acted as fairness opinion provider to the board of directors of Bel Fuse Inc. Declared Dividend • Aug 05
Dividend of US$0.06 announced Shareholders will receive a dividend of US$0.06. Ex-date: 15th October 2024 Payment date: 1st November 2024 Dividend yield will be 0.3%, which is lower than the industry average of 1.4%. Payout Ratios Payout ratio: 5%. Cash payout ratio: 3%. Aankondiging • Aug 02
Bel Fuse Inc. Announces Regular Quarterly Cash Dividend on its Class A and Class B Shares, Payable on November 1, 2024 BEL FUSE INC announced that its Board of Directors has declared regular quarterly cash dividends of $0.06 per share on the Company's Class A common shares and $0.07 per share on the Company's Class B common shares. Cash dividends for Class A and Class B common shares are payable on November 1, 2024 to shareholders of record on October 15, 2024. New Risk • Jul 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 25
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$1.48 (down from US$2.17 in 2Q 2023). Revenue: US$133.2m (down 21% from 2Q 2023). Net income: US$18.8m (down 32% from 2Q 2023). Profit margin: 14% (down from 17% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 61%. Revenue is forecast to grow 2.3% p.a. on average during the next 2 years, compared to a 6.9% growth forecast for the Electronic industry in the US. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Jul 11
Bel Fuse Inc. to Report Q2, 2024 Results on Jul 24, 2024 Bel Fuse Inc. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 Upcoming Dividend • Jul 08
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 15 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 4.1% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of American dividend payers (4.8%). Lower than average of industry peers (1.2%). Aankondiging • Jul 03
Bel Fuse Inc.(NasdaqGS:BELF.B) dropped from Russell Small Cap Comp Growth Index Bel Fuse Inc.(NasdaqGS:BELF.B) dropped from Russell Small Cap Comp Growth Index Aankondiging • Jul 02
Bel Fuse Inc. Announces Executive Changes Bel Fuse Inc. confirmed consistent with prior announcements that Dennis Ackerman will retire from the Company effective July 31, 2024 after 37 years of service, having served as President of Bel Power Solutions and Protection since 2014. As previously announced, Steve Dawson, who most recently served as Vice President of Marketing and Business Development for the Power segment, has been named to succeed Mr. Ackerman. His appointment as the new President of Bel Power Solutions and Protection is effective July 1, 2024. Mr. Ackerman joined Bel in 1986 and held the positions of Customer Service Manager, Sales Manager, Purchasing Director and Operations Director. In 2001, he was named Vice President of Operations and in June 2014, he was named President of the Bel Power Solutions and Protection segment. Steve Dawson has over 25 years of progressive experience in power and circuit protection. Before joining Bel, Mr. Dawson held positions in Manufacturing, Engineering, Product Management and Business Development with Cooper Industries’ circuit protection business, a company later acquired by Eaton. After twelve years at Cooper Industries, he joined Power-One, a well-known manufacturer of power supplies. There Mr. Dawson led the Marketing and Business Development efforts when Power-One was acquired by ABB. Dawson was later involved in the sale of the power business from ABB to Bel, where he most recently served as Vice President of Marketing and Business Development for Bel’s Power segment. Mr. Dawson earned his Bachelor’s degree in Industrial Engineering from the University of Cincinnati and his MBA degree from Washington University in St. Louis. Aankondiging • Jun 27
Bel Fuse Inc.(NasdaqGS:BELF.A) dropped from NASDAQ Telecom Index Bel Fuse Inc. has been dropped from NASDAQ Telecom Index . 
