Bel Fuse Inc. (BELFA) intrinsic value & 10-year financials
Bel Fuse Inc. (BELFA) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 3.4% a year to $675.5M, with an average return on invested capital of 7.8%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $168.16
- Revenue (FY2025)
- $675.5M
- Revenue growth (10-yr CAGR)
- 3.4%
- ROIC (10-yr avg)
- 7.8%
- Free cash flow (FY2025)
- $68.6M
BELFA 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $675.5M | $61.5M | — | $68.6M | 16.4% | 14.0% |
| FY2024 | $534.8M | $41.0M | — | $60.0M | 12.0% | 10.6% |
| FY2023 | $639.8M | $73.8M | — | $96.2M | 13.8% | 24.8% |
| FY2022 | $654.2M | $52.7M | — | $31.4M | 10.0% | 20.1% |
| FY2021 | $543.5M | $24.8M | — | -$4.8M | 5.8% | 11.4% |
| FY2020 | $465.8M | $12.8M | — | $40.6M | 4.0% | 7.8% |
| FY2019 | $492.4M | -$8.7M | — | $14.6M | 0.1% | 0.2% |
| FY2018 | $548.2M | $20.7M | — | -$1.5M | 5.4% | 11.6% |
| FY2017 | $491.6M | -$11.9M | — | $17.7M | 3.3% | 3.7% |
| FY2016 | $500.2M | -$64.8M | — | $30.4M | -15.3% | -26.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BEL FUSE INC /NJ has demonstrated mature, steady growth, with revenue compounding at 3.4% annually over the past decade.
BEL FUSE INC /NJ has historically struggled to out-earn its cost of capital, averaging just 7.8% ROIC.
Over the decade, BEL FUSE INC /NJ shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BEL FUSE INC /NJ is modeled at 3.4% normalized earnings growth with a 5.1% bond-yield adjustment.