NYSE:BDC

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Undervalued with proven track record.


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


Market Performance


7 Day Return

6.5%

BDC

4.0%

US Electronic

2.3%

US Market


1 Year Return

-17.7%

BDC

9.8%

US Electronic

5.6%

US Market

Return vs Industry: BDC underperformed the US Electronic industry which returned 9.8% over the past year.

Return vs Market: BDC underperformed the US Market which returned 5.6% over the past year.


Shareholder returns

BDCIndustryMarket
7 Day6.5%4.0%2.3%
30 Day-2.4%-0.4%-1.0%
90 Day-2.6%3.3%-0.7%
1 Year-17.3%-17.7%10.9%9.8%7.9%5.6%
3 Year-21.3%-22.0%53.3%49.1%45.6%36.3%
5 Year-15.2%-16.5%90.9%81.7%65.8%47.6%

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

Valuation

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

24.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BDC ($52.9) is trading below our estimate of fair value ($70.46)

Significantly Undervalued: BDC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BDC is good value based on its PE Ratio (13x) compared to the Electronic industry average (19x).

PE vs Market: BDC is good value based on its PE Ratio (13x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: BDC is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: BDC is good value based on its PB Ratio (1.4x) compared to the US Electronic industry average (2x).


Next Steps

Future Growth

How is Belden forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

14.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BDC's forecast earnings growth (14.4% per year) is above the savings rate (2.7%).

Earnings vs Market: BDC's earnings (14.4% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: BDC's earnings are forecast to grow, but not significantly.

Revenue vs Market: BDC's revenue (0.2% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: BDC's revenue (0.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: BDC's Return on Equity is forecast to be low in 3 years time (16.7%).


Next Steps

Past Performance

How has Belden performed over the past 5 years?

12.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BDC's earnings have grown by 12.3% per year over the past 5 years.

Accelerating Growth: BDC's earnings growth over the past year (474.4%) exceeds its 5-year average (12.3% per year).

Earnings vs Industry: BDC earnings growth over the past year (474.4%) exceeded the Electronic industry 58.6%.


Return on Equity

High ROE: BDC's Return on Equity (13.7%) is considered low.


Return on Assets

ROA vs Industry: BDC's Return on Assets is below or equal to the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: BDC has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Belden's financial position?


Financial Position Analysis

Short Term Liabilities: BDC's short term assets ($1.1B) exceeds its short term liabilities ($590.0M)

Long Term Liabilities: BDC's short term assets (1.1B) do not cover its long term liabilities (1.8B)


Debt to Equity History and Analysis

Debt Level: BDC's debt to equity ratio (101.7%) is considered high

Reducing Debt: BDC's debt to equity ratio has reduced from 187% to 101.7% over the past 5 years.

Debt Coverage: BDC's debt is well covered by operating cash flow (23.3%).

Interest Coverage: BDC's interest payments on its debt are well covered by EBIT (4.9x coverage).


Balance Sheet

Inventory Level: BDC has a high level of physical assets or inventory.

Debt Coverage by Assets: BDC's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

0.38%

Current Dividend Yield


Dividend Yield vs Market

company0.4%marketbottom25%1.5%markettop25%3.8%industryaverage1.6%forecastin3Years0.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BDC's dividend (0.38%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: BDC's dividend (0.38%) is low compared to the top 25% of dividend payers in the US market (3.76%).

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

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


Current Payout to Shareholders

Dividend Coverage: BDC is not paying a notable dividend for the US market.


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Belden's salary, the management and board of directors tenure and is there insider trading?

4.5yrs

Average management tenure


CEO

John Stroup (53yo)

14yrs

Tenure

US$6,335,887

Compensation

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 ($USD6.34M) is about average for companies of similar size in the US market ($USD5.13M).

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


Management Age and Tenure

4.5yrs

Average Tenure

50yo

Average Age

Experienced Management: BDC's management team is considered experienced (4.5 years average tenure).


Board Age and Tenure

7.6yrs

Average Tenure

61yo

Average Age

Experienced Board: BDC's board of directors are considered experienced (7.6 years average tenure).


Insider Trading

Insider Buying: BDC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$36,36801 Aug 19
Leo Kulmaczewski
EntityIndividual
Shares800
Max PriceUS$45.46
BuyUS$25,00416 Nov 18
Roel Vestjens
EntityIndividual
Role
Chief Operating Officer
Chief Operating Officer
Shares447
Max PriceUS$55.94
BuyUS$76,77305 Nov 18
Hendrikus P. Derksen
EntityIndividual
Role
Chief Financial Officer
Senior VP of Finance & CFO
Shares1,431
Max PriceUS$53.65
BuyUS$494,28002 Nov 18
John Stroup
EntityIndividual
Role
Chief Executive Officer
President
Shares9,250
Max PriceUS$53.44

Ownership Breakdown


Management Team

  • John Stroup (53yo)

    President

    • Tenure: 14yrs
    • Compensation: US$6.34m
  • Kevin Maczka

    VP, Treasurer & Investor Relations

    • Tenure: 0yrs
  • Henk Derksen (50yo)

    Senior VP of Finance & CFO

    • Tenure: 7.8yrs
    • Compensation: US$4.73m
  • Dhrupad Trivedi (52yo)

    Executive VP & CTO

    • Tenure: 1.7yrs
    • Compensation: US$1.07m
  • Glenn Pennycook (57yo)

    Executive Vice President of Enterprise Solutions

    • Tenure: 6.4yrs
    • Compensation: US$3.83m
  • Roel Vestjens (44yo)

    Chief Operating Officer

    • Tenure: 0.3yrs
    • Compensation: US$3.81m
  • Doug Zink (43yo)

    VP & Chief Accounting Officer

    • Tenure: 6.1yrs
  • Brian Anderson (44yo)

    Senior VP of Legal

    • Tenure: 4.5yrs
  • Dean McKenna (50yo)

    Senior Vice President of Human Resources

    • Tenure: 4.4yrs
  • Paul Turner (55yo)

    Senior Vice President of Sales

    • Tenure: 2.7yrs

Board Members

  • Bryan Cressey (70yo)

    Independent Director

    • Tenure: 34.8yrs
    • Compensation: US$240.27k
  • Steve Berglund (67yo)

    Director

    • Tenure: 5.8yrs
    • Compensation: US$222.68k
  • Dave Aldrich (62yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$270.58k
  • John Stroup (53yo)

    President

    • Tenure: 14yrs
    • Compensation: US$6.34m
  • Jonathan Klein (61yo)

    Director

    • Tenure: 4.2yrs
    • Compensation: US$223.18k
  • Lance Balk (61yo)

    Director

    • Tenure: 19.6yrs
    • Compensation: US$257.00k
  • George Minnich (69yo)

    Independent Director

    • Tenure: 9.4yrs
    • Compensation: US$242.45k
  • Diane Brink (60yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$222.44k
  • Judy L. Brown (50yo)

    Independent Director

    • Tenure: 11.7yrs
    • Compensation: US$236.22k

Company Information

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


Key Information

  • Name: Belden Inc.
  • Ticker: BDC
  • Exchange: NYSE
  • Founded: 1902
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: US$2.404b
  • Shares outstanding: 45.45m
  • Website: https://www.belden.com

Number of Employees


Location

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

Listings

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

Biography

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 segments. The E ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 23:50
End of Day Share Price2019/10/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.