Bel Fuse Inc. Class B Common Stock (BELFB)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital, carry little debt, and sell at a reasonable price. Bel Fuse is a solid industrial electronics manufacturer with products that power, protect, and connect circuits across networking, telecom, defense, aerospace, and industrial markets. Its balance sheet is a genuine strength: debt-to-equity is only 0.03, Altman Z-Score is 9.57, and Piotroski F-Score is 6/9. Free cash flow was $73.3M over the trailing twelve months, though against a $3.5B market cap that is only a 2.1% FCF yield. The growth picture is mixed. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $210.7M and net income was $25.5M. A year earlier, in fiscal Q2 2025, the quarter ended 2025-06-30, revenue was $168.3M and net income was $26.9M, so sales grew but profit declined. For FY2025, the year ended 2025-12-31, revenue was $675.5M and net income $61.5M; FY2023, the year ended 2023-12-31, had revenue of $639.8M and net income of $73.8M, so the company has not converted higher revenue into higher profit lately. Returns are modest: ROE 10.41% and ROCE 6.87%. On valuation, at the 2026-10-13 close of $235.26, the FairStock P/E is 60.17, P/B is 3.74, EV/EBITDA is 24.57, and the Graham Number is $74.44, leaving a margin of safety of -216.04%. The Lynch category is STALWART, based on five-year profit growth of 36.9% and revenue growth of 7.7%, but current profit trends and the FairStock score of 35/100 urge caution. I like the balance sheet and market diversity, but the price already assumes a lot.

In plain English: Bel Fuse makes electronic parts that move, protect, and connect power and data inside equipment used in networking, telecom, aerospace, defense, and other industries. In the latest reported quarter, sales rose from a year earlier but profit slipped, while the company carries very little debt. The stock price looks expensive compared with the company’s profits and cash generation, and it is far above the value of its net assets.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer