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Belden BDC Smart Infrastructure Solutions — Acquisition adjustments

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Other financials

Income statement

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Revenue$696.4M+11.4%
Gross profit$258.1M+5.0%
Operating income$78.0M+7.3%
Net income$51.0M-1.8%
EPS (diluted)$1.30+2.4%

Balance sheet

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Cash & equivalents$272.2M+5.1%
Total debt$1.4B+5.4%
Total equity$1.3B+4.9%
Total assets$3.5B+5.8%

Cash flow

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Operating cash flow-$18.7M-351%
CapEx$44.4M+37.9%
Free cash flow-$63.1M-155%

Valuation

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Market cap$5.05B+10.2%
Enterprise value$6.16B+8.4%
P/E21.3×+1.0×
P/S1.8×+0.1×

Profitability

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Gross margin37.4%-0.5pp
Operating margin11.5%+0.3pp
Net margin8.5%+0.1pp
FCF margin6.5%-2.1pp

Returns & leverage

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Return on equity18.9%+1.0pp
Debt / equity1.1×0.0×
Current ratio2.1×+0.2×

Where this comes from

Reported directly by Belden in its filing.

Tagged under the XBRL concept us-gaap:GoodwillPurchaseAccountingAdjustments.

The source filing: Belden’s 10-K, filed February 17, 2026.

Filed
Feb 17, 2026, 3:54 PM EST
Fiscal year
FY2025
Accession
0000913142-26-000009
Line itemSmart Infrastructure SolutionsAutomation SolutionsConsolidated
Balance at December 31, 2023$511,524$395,807$907,331
Acquisitions120,9622,620123,582
Translation impact(3,128)(9,108)(12,236)
Balance at December 31, 2024$629,358$389,319$1,018,677
Acquisition adjustments(6,976)(320)(7,296)
Translation impact7,02518,41525,440
Balance at December 31, 2025$629,407$407,414$1,036,821

Item 8. Financial Statements and Supplementary Data

FAQ

What is Belden's smart infrastructure solutions — acquisition adjustments?
Belden (BDC) reported smart infrastructure solutions — acquisition adjustments of -$1.74M in Q4 2025.
What does smart infrastructure solutions — acquisition adjustments mean?
Reflects specific financial adjustments made to segment results to account for the impact of recent acquisitions, such as inventory step-ups or deferred revenue adjustments. These adjustments are critical for normalizing segment performance to reflect ongoing business operations.

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