Stock Analysis Report

Executive Summary

Belden Inc. operates as a signal transmission solutions company in the United States and internationally.

Snowflake Analysis

Fair value with moderate growth potential.

Similar Companies

Share Price & News

How has Belden's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: QCTA has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




DE Electronic


DE Market

1 Year Return




DE Electronic


DE Market

Return vs Industry: QCTA underperformed the German Electronic industry which returned 8.5% over the past year.

Return vs Market: QCTA underperformed the German Market which returned 12.8% over the past year.

Shareholder returns

7 Day-3.5%-1.9%-0.9%
30 Day-1.3%8.2%-0.4%
90 Day-6.3%8.8%2.3%
1 Year-15.5%-15.8%10.9%8.5%16.3%12.8%
3 Year-34.3%-34.9%49.7%44.8%15.8%5.7%
5 Year-42.6%-43.5%114.5%99.2%19.7%3.3%

Price Volatility Vs. Market

How volatile is Belden's share price compared to the market and industry in the last 5 years?

Simply Wall St News

No news available


Is Belden undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: QCTA (€44.6) is trading below our estimate of fair value (€45.91)

Significantly Below Fair Value: QCTA is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: QCTA is good value based on its PE Ratio (22.2x) compared to the Electronic industry average (29.8x).

PE vs Market: QCTA is poor value based on its PE Ratio (22.2x) compared to the German market (20.8x).

Price to Earnings Growth Ratio

PEG Ratio: QCTA is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: QCTA is overvalued based on its PB Ratio (2.3x) compared to the DE Electronic industry average (1.9x).

Next Steps

Future Growth

How is Belden forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: QCTA's forecast earnings growth (26.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: QCTA's earnings (26.6% per year) are forecast to grow faster than the German market (13% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: QCTA's revenue (1.2% per year) is forecast to grow slower than the German market (5.2% per year).

High Growth Revenue: QCTA's revenue (1.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: QCTA's Return on Equity is forecast to be low in 3 years time (12.6%).

Next Steps

Past Performance

How has Belden performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: QCTA has high quality earnings.

Growing Profit Margin: QCTA's current net profit margins (4.3%) are lower than last year (6.1%).

Past Earnings Growth Analysis

Earnings Trend: QCTA's earnings have declined by -3.8% per year over the past 5 years.

Accelerating Growth: QCTA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: QCTA had negative earnings growth (-31.1%) over the past year, making it difficult to compare to the Electronic industry average (-3.9%).

Return on Equity

High ROE: QCTA's Return on Equity (11.4%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is Belden's financial position?

Financial Position Analysis

Short Term Liabilities: QCTA's short term assets ($1.4B) exceed its short term liabilities ($722.5M).

Long Term Liabilities: QCTA's short term assets ($1.4B) do not cover its long term liabilities ($1.7B).

Debt to Equity History and Analysis

Debt Level: QCTA's debt to equity ratio (149%) is considered high.

Reducing Debt: QCTA's debt to equity ratio has reduced from 219.2% to 149% over the past 5 years.

Debt Coverage: QCTA's debt is not well covered by operating cash flow (19.2%).

Interest Coverage: QCTA's interest payments on its debt are well covered by EBIT (4.2x coverage).

Balance Sheet

Inventory Level: QCTA has a low level of unsold assets or inventory.

Debt Coverage by Assets: QCTA's debt is not covered by short term assets (assets are 1x debt).

Next Steps


What is Belden's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Upcoming Dividend Payment

TodayFeb 24 2020Ex Dividend DateMar 12 2020Dividend Pay DateApr 07 202026 days from Ex DividendBuy in the next 16 days to receive upcoming dividend

Dividend Yield vs Market

Notable Dividend: QCTA's dividend (0.42%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: QCTA's dividend (0.42%) is low compared to the top 25% of dividend payers in the German market (3.63%).

Stability and Growth of Payments

Stable Dividend: QCTA is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: QCTA is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.

Current Payout to Shareholders

Dividend Coverage: QCTA is not paying a notable dividend for the German market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of QCTA's dividend in 3 years as they are not forecast to pay a notable one for the German market.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


John Stroup (53yo)





Mr. John S. Stroup has been the Chief Executive Officer and President of Belden Inc. since October 31, 2005 and has been its Chairman since November 30, 2016. Mr. Stroup served as the Head of EMEA Business ...

CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD6.34M) is above average for companies of similar size in the German market ($USD1.52M).

Compensation vs Earnings: John's compensation has been consistent with company performance over the past year.

Leadership Team

John Stroup
President14.3yrsUS$6.34m0.28% $5.7m
Hendrikus P. Derksen
Senior VP of Finance & CFO8.1yrsUS$4.73m0.040% $808.6k
Roel Vestjens
Executive VP & COO0.6yrsUS$3.81m0.013% $251.3k
Glenn Pennycook
Executive Vice President of Enterprise Solutions6.8yrsUS$3.83m0.016% $326.8k
Douglas Zink
VP & Chief Accounting Officer6.4yrsno data0.0053% $106.3k
Kevin Maczka
VP, Treasurer & Investor Relations0yrsno datano data
Brian Anderson
Senior VP of Legal4.8yrsno data0.010% $204.2k
Paul Turner
Senior Vice President of Sales3yrsno data0.021% $420.5k
Dean McKenna
Senior Vice President of Human Resources4.8yrsno data0.0046% $92.9k
Leo Kulmaczewski
Senior Vice President of Operations & Lean Enterprise0yrsno data0.0040% $80.6k


Average Tenure


Average Age

Experienced Management: QCTA's management team is seasoned and experienced (5.6 years average tenure).

Board Members

John Stroup
President14.3yrsUS$6.34m0.28% $5.7m
Bryan Cressey
Independent Director35.1yrsUS$240.27k0.42% $8.5m
Steven Berglund
Director6.2yrsUS$222.68k0.022% $447.0k
David Aldrich
Lead Independent Director0yrsUS$270.58k0.074% $1.5m
Jonathan Klein
Director4.5yrsUS$223.18k0.015% $296.3k
Lance Balk
Director19.9yrsUS$257.00k0.18% $3.5m
George Minnich
Independent Director9.8yrsUS$242.45k0.032% $652.7k
Diane Brink
Director2.2yrsUS$222.44k0.0018% $36.8k
Judy L. Brown
Independent Director12yrsUS$236.22k0.034% $676.6k


Average Tenure


Average Age

Experienced Board: QCTA's board of directors are considered experienced (8 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.8%.

Top Shareholders

Company Information

Belden Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Belden Inc.
  • Ticker: QCTA
  • Exchange: DB
  • Founded: 1902
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: US$2.183b
  • Listing Market Cap: US$2.010b
  • Shares outstanding: 45.46m
  • Website: https://www.belden.com

Number of Employees


  • Belden Inc.
  • 1 North Brentwood Boulevard
  • 15th Floor
  • Saint Louis
  • Missouri
  • 63105
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BDCNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 2004
QCTADB (Deutsche Boerse AG)YesCommon StockDEEURJul 2004


Belden Inc. operates as a signal transmission solutions company in the United States and internationally. The company operates in two segments, Enterprise Solutions and Industrial Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, and racks and enclosures for use in applications, such as local area networks, data centers, access control, and building automation, as well as live production and performance, video display and digital signage, and corporate communications. It also provides power, cooling, and airflow management products for mission-critical data center operations. This segment serves customers in markets comprising healthcare, education, financial, government, and corporate enterprises, as well as end-markets, including sport venues, broadcast studios, and academia. The Industrial Solutions segment offers infrastructure components and on-machine connectivity systems, including industrial and input/output (I/O) connectors, industrial cables, IP and networking cables, I/O modules, distribution boxes, ruggedized controls and sensors, and customer specific wiring solutions. This segment provides its products for use in industrial automation applications comprising network and fieldbus infrastructure; sensor and actuator connectivity; and power, control, and data transmission. The company serves distributors, original equipment manufacturers, installers, and end-users. The company was formerly known as Belden CDT Inc. and changed its name to Belden Inc. in May 2007. Belden Inc. was founded in 1902 and is based in St. Louis, Missouri. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 20:35
End of Day Share Price2020/02/21 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.