Belden Inc. Due Diligence

Run due diligence on Belden Inc.: check compliance and get alerts when suppliers or ownership change.

United States · owned by Independent (United States) · belden.com · 14 vendors

Belden Inc. is a global leader in network infrastructure and connectivity solutions, serving industrial and enterprise markets with cables, connectors, networking hardware, and software. The company specializes in IT/OT convergence, enabling secure and reliable data flow across mission-critical applications in industries such as manufacturing, broadcast, transportation, and energy. Listed on the NYSE (ticker: BDC), Belden operates a broad portfolio of connected brands including Hirschmann, Alpha Wire, and ProSoft Technology.

Resilience scores

Technology vendors

Insights

Last updated 2026-10-08 · revision 10

14 direct vendors, 212 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

CE Marking — Evidence found

Belden manufactures and sells products in the European Union that fall under various directives requiring the CE mark, such as the Low Voltage Directive and the Construction Products Regulation (CPR).

Evidence: https://umbrex.com/resources/company-profiles/belden/, https://www.trade.gov/country-commercial-guides/united-kingdom-labelingmarking-requirements, https://www.globaldata.com/company-profile/belden-inc/, https://www.wesco.com/us/en/brands/b/belden.html, https://www.belden.com/about/locations

NIS2 (source) — No public evidence

Belden operates in the manufacturing sector, which is classified as an 'Important Entity' under the NIS2 Directive. The company has substantial operations within the European Union, meeting the directive's geographical scope.

WEEE — Evidence found

The WEEE Directive applies to companies that manufacture, sell, or distribute electrical and electronic equipment in the EU. Belden's products fall within the scope of this directive.

Evidence: https://www.trade.gov/eu-weeerohs, https://www.my-compliance.eu/faq/eu-weee-directive/, https://umbrex.com/resources/company-profiles/belden/, https://www.componentsense.com/blog/weee-regulations, https://www.globaldata.com/company-profile/belden-inc/, https://www.bradyid.com/resources/weee-compliance-guide

Financials

Three-year financials

Financial Resilience Score: 8/10

Belden demonstrates strong financial resilience, underpinned by record FY2025 revenue of $2,715M (+10% y/y) and record adjusted EPS of $7.54 (+19% y/y). The company generated $354.9M in operating cash flow and $219M in free cash flow during 2025, ending the year with $389.9M in cash and an undrawn $400M revolver, providing approximately $384M of available liquidity. Gross margin expanded to 38.0% and adjusted EBITDA margin reached 16.9%, reflecting positive mix shift toward higher-margin Solutions (now 15% of revenue). The debt structure is long-dated and fixed-rate, consisting entirely of euro-denominated senior subordinated notes maturing 2027, 2028, and 2031, with no 2026 maturities. In January 2026, Belden issued €450M 4.25% notes due 2033 to repurchase the 2027 notes, further extending the maturity profile. Capital returns remain robust, with 1.7M shares repurchased for $194.6M in 2025 and $145.4M remaining under the authorization. Backlog grew to $567.7M (vs. $509.7M prior year), signaling positive demand into 2026. Key risks include exposure to U.S. tariff policy (42% of 2025 sales to non-U.S. customers), copper and petrochemical input cost volatility (copper ranged $3.99-$5.80/lb in 2025), FX exposure through euro-denominated debt (which produced a $(79.9)M translation loss in OCI during 2025), customer concentration (largest distributor ~14%, top 10 customers ~47%), goodwill at 29% of total assets with one reporting unit's fair value only 15% above carrying value, and organizational disruption from the January 2026 segment realignment and executive changes.

Key strengths: Record FY2025 revenue of $2,715M (+10% y/y) and adjusted EPS of $7.54 (+19% y/y), Strong cash generation: $354.9M operating cash flow, $219M free cash flow, $389.9M year-end cash plus undrawn $400M revolver (~$384M liquidity available), Long-dated, fixed-rate debt with no 2026 maturities; refinanced via €450M 4.25% notes due 2033, Gross margin expansion to 38.0% and adjusted EBITDA margin to 16.9%, $194.6M of share buybacks in 2025; $145.4M remaining authorization, Backlog of $567.7M at year-end 2025, up from $509.7M, Diversified portfolio across Automation (55%) and Smart Infrastructure (45%) segments, 120+ year operating history with strong brand portfolio

Risk factors: Tariff and trade policy exposure (~42% of sales outside U.S.), Copper and petrochemical input cost volatility (copper $3.99-$5.80/lb range in 2025), FX risk from euro-denominated debt ($(79.9)M translation loss in 2025 OCI), Customer concentration: largest distributor ~14%, top 10 customers ~47%, top 8 distributors ~35%, Goodwill-heavy balance sheet ($1.04B, ~29% of total assets); one reporting unit only 15% above carrying value, Pension plan modestly underfunded by ~$20M (PBO $324M vs assets $304M), Organizational disruption from January 2026 single-segment realignment and C-suite changes, ~26% of global workforce covered by collective bargaining agreements

Revenue by geography

Revenue by product/service

Workforce by country

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