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Stocks · Technology · Printed Circuit Boards

BENCHMARK ELECTRONICS INC

BHE Clue Score37
United States Fiscal year ends December CIK 0000863436
$81.47 +0.38% Close, 9 Oct 2026
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Price $81.47 +206.28% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,322.3Operating income76.9Net income63.9EPS, diluted1.28Fiscal year 2017Revenue2,454.5 +5.7%Operating income76.8Net income−31.9 −149.9%EPS, diluted−0.64 −150.0%Fiscal year 2018Revenue2,635.2 +7.4%Operating income58.5Net income22.8EPS, diluted0.49Fiscal year 2019Revenue2,346.8 −10.9%Operating income28.5Net income23.4 +2.7%EPS, diluted0.60 +22.4%Fiscal year 2020Revenue2,130.2 −9.2%Operating income25.1Net income14.1 −40.0%EPS, diluted0.38 −36.7%Fiscal year 2021Revenue2,344.9 +10.1%Operating income53.1Net income35.8 +154.5%EPS, diluted0.99 +160.5%Fiscal year 2022Revenue3,011.5 +28.4%Operating income90.1Net income68.2 +90.7%EPS, diluted1.91 +92.9%Fiscal year 2023Revenue2,967.6 −1.5%Operating income109.7Net income68.9 +1.0%EPS, diluted1.92 +0.5%Fiscal year 2024Revenue2,760.8 −7.0%Operating income109.4Net income61.1 −11.3%EPS, diluted1.66 −13.5%Fiscal year 2025Revenue2,748.7 −0.4%Operating income76.0Net income24.9 −59.3%EPS, diluted0.68 −59.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,322.3 2,454.5 2,635.2 2,346.8 2,130.2 2,344.9 3,011.5 2,967.6 2,760.8 2,748.7
Growth +5.7% +7.4% −10.9% −9.2% +10.1% +28.4% −1.5% −7.0% −0.4%
Operating income 76.9 76.8 58.5 28.5 25.1 53.1 90.1 109.7 109.4 76.0
Net income 63.9 −31.9 22.8 23.4 14.1 35.8 68.2 68.9 61.1 24.9
Growth −149.9% +2.7% −40.0% +154.5% +90.7% +1.0% −11.3% −59.3%
EPS, diluted 1.28 −0.64 0.49 0.60 0.38 0.99 1.91 1.92 1.66 0.68
Growth −150.0% +22.4% −36.7% +160.5% +92.9% +0.5% −13.5% −59.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin9.2%Operating margin3.3%Net margin2.8%Free cash flow margin10.4%Fiscal year 2017Gross margin9.2%Operating margin3.1%Net margin−1.3%Free cash flow margin3.9%Fiscal year 2018Gross margin7.8%Operating margin2.2%Net margin0.9%Free cash flow margin0.5%Fiscal year 2019Gross margin7.9%Operating margin1.2%Net margin1.0%Free cash flow margin2.6%Fiscal year 2020Gross margin8.2%Operating margin1.2%Net margin0.7%Free cash flow margin4.0%Fiscal year 2021Gross margin8.8%Operating margin2.3%Net margin1.5%Free cash flow margin−1.8%Fiscal year 2022Gross margin8.5%Operating margin3.0%Net margin2.3%Free cash flow margin−7.3%Fiscal year 2023Gross margin9.1%Operating margin3.7%Net margin2.3%Free cash flow margin3.4%Fiscal year 2024Gross margin9.8%Operating margin4.0%Net margin2.2%Free cash flow margin5.7%Fiscal year 2025Gross margin9.8%Operating margin2.8%Net margin0.9%Free cash flow margin3.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 9.2% 9.2% 7.8% 7.9% 8.2% 8.8% 8.5% 9.1% 9.8% 9.8%
Operating margin 3.3% 3.1% 2.2% 1.2% 1.2% 2.3% 3.0% 3.7% 4.0% 2.8%
Net margin 2.8% −1.3% 0.9% 1.0% 0.7% 1.5% 2.3% 2.3% 2.2% 0.9%
Free cash flow margin 10.4% 3.9% 0.5% 2.6% 4.0% −1.8% −7.3% 3.4% 5.7% 3.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow273.1Capital expenditure−30.5Free cash flow242.6Buybacks−41.9Dividends paid0.0Fiscal year 2017Operating cash flow145.8Capital expenditure−50.8Free cash flow95.1 −60.8%Buybacks−29.3Dividends paid0.0Fiscal year 2018Operating cash flow76.7Capital expenditure−62.8Free cash flow13.9 −85.4%Buybacks−211.9Dividends paid−21.0Fiscal year 2019Operating cash flow93.1Capital expenditure−32.6Free cash flow60.6 +336.3%Buybacks−122.1Dividends paid−23.3Fiscal year 2020Operating cash flow120.4Capital expenditure−34.6Free cash flow85.9 +41.8%Buybacks−25.2Dividends paid−23.0Fiscal year 2021Operating cash flow−2.6Capital expenditure−38.8Free cash flow−41.4 −148.2%Buybacks−40.2Dividends paid−23.3Fiscal year 2022Operating cash flow−177.5Capital expenditure−43.4Free cash flow−220.8Buybacks−9.4Dividends paid−23.2Fiscal year 2023Operating cash flow174.3Capital expenditure−73.5Free cash flow100.8Buybacks0.0Dividends paid−23.5Fiscal year 2024Operating cash flow189.2Capital expenditure−31.3Free cash flow157.9 +56.6%Buybacks−5.1Dividends paid−23.9Fiscal year 2025Operating cash flow124.0Capital expenditure−35.6Free cash flow88.4 −44.1%Buybacks−26.8Dividends paid−24.4
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 273.1 145.8 76.7 93.1 120.4 −2.6 −177.5 174.3 189.2 124.0
Capital expenditure −30.5 −50.8 −62.8 −32.6 −34.6 −38.8 −43.4 −73.5 −31.3 −35.6
Free cash flow 242.6 95.1 13.9 60.6 85.9 −41.4 −220.8 100.8 157.9 88.4
Growth −60.8% −85.4% +336.3% +41.8% −148.2% +56.6% −44.1%
Buybacks −41.9 −29.3 −211.9 −122.1 −25.2 −40.2 −9.4 0.0 −5.1 −26.8
Dividends paid 0.0 0.0 −21.0 −23.3 −23.0 −23.3 −23.2 −23.5 −23.9 −24.4

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash681.4Shareholders’ equity1,365.5Fiscal year 2017Cash742.5Shareholders’ equity1,339.1Fiscal year 2018Cash458.1Total debt147.9Net cash (debt)310.2Shareholders’ equity1,132.2Debt to equity0.13Fiscal year 2019Cash347.6Total debt142.8Net cash (debt)204.8Shareholders’ equity1,014.8Debt to equity0.14Fiscal year 2020Cash390.8Total debt135.7Net cash (debt)255.1Shareholders’ equity989.6Debt to equity0.14Fiscal year 2021Cash271.7Total debt129.6Net cash (debt)142.2Shareholders’ equity973.8Debt to equity0.13Fiscal year 2022Cash207.4Total debt324.4Net cash (debt)−117.0Shareholders’ equity1,026.4Debt to equity0.32Fiscal year 2023Cash277.4Total debt330.6Net cash (debt)−53.2Shareholders’ equity1,079.1Debt to equity0.31Fiscal year 2024Cash315.2Total debt257.0Net cash (debt)58.1Shareholders’ equity1,104.6Debt to equity0.23Fiscal year 2025Cash322.1Total debt210.6Net cash (debt)111.5Shareholders’ equity1,099.8Debt to equity0.19
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 681.4 742.5 458.1 347.6 390.8 271.7 207.4 277.4 315.2 322.1
Total debt n/a n/a 147.9 142.8 135.7 129.6 324.4 330.6 257.0 210.6
Net cash (debt) n/a n/a 310.2 204.8 255.1 142.2 −117.0 −53.2 58.1 111.5
Shareholders’ equity 1,365.5 1,339.1 1,132.2 1,014.8 989.6 973.8 1,026.4 1,079.1 1,104.6 1,099.8
Debt to equity n/a n/a 0.13 0.14 0.14 0.13 0.32 0.31 0.23 0.19

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
2,322.3 2,454.5 2,635.2 2,346.8 2,130.2 2,344.9 3,011.5 2,967.6 2,760.8 2,748.7
Growth +5.7% +7.4% −10.9% −9.2% +10.1% +28.4% −1.5% −7.0% −0.4%
2,107.6 2,228.6 2,360.6 2,082.6 1,878.1 2,049.4 2,631.1 2,567.9 2,386.1 2,389.0
214.7 225.9 205.8 185.5 175.0 205.9 255.2 271.1 270.0 270.1
Growth +5.2% −8.9% −9.9% −5.6% +17.6% +24.0% +6.2% −0.4% +0.0%
113.4 130.4 128.4 126.7 122.2 136.7 150.2 147.0 149.5 159.7
76.9 76.8 58.5 28.5 25.1 53.1 90.1 109.7 109.4 76.0
Growth −0.0% −23.8% −51.2% −11.9% +111.1% +69.7% +21.8% −0.2% −30.5%
69.4 71.0 55.5 27.3 17.3 45.4 84.3 81.2 83.9 61.5
5.5 102.9 32.7 3.8 3.2 9.6 16.1 12.3 22.8 36.7
63.9 −31.9 22.8 23.4 14.1 35.8 68.2 68.9 61.1 24.9
Growth −149.9% +2.7% −40.0% +154.5% +90.7% +1.0% −11.3% −59.3%
Per share
1.30 −0.64 0.49 0.61 0.38 1.00 1.94 1.94 1.70 0.69
1.28 −0.64 0.49 0.60 0.38 0.99 1.91 1.92 1.66 0.68
Growth −150.0% +22.4% −36.7% +160.5% +92.9% +0.5% −13.5% −59.0%
49.3 49.7 46.3 38.3 36.5 35.7 35.2 35.6 36.0 35.9
49.8 49.7 46.7 38.8 36.8 36.1 35.7 36.0 36.8 36.3
Growth −0.3% −6.1% −16.9% −5.0% −1.9% −1.1% +0.7% +2.2% −1.2%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.2% a year over five years, and earnings per share grew 12.3% a year.
  • The diluted share count fell 1.4% in five years, so buybacks did some of the work per share.
  • Operating margin is up 1.6 points on five years ago, at 2.8%.
  • A net loss in 1 of 10 years on file.