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Earnings transcript
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BHE
Benchmark Electronics, Inc.
$86.72
0.59
(0.69%)
| Exchange: | NYSE |
| Market Cap: | 3.111B |
| Shares Outstanding: | 9.536M |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Hardware, Equipment & Parts | |||||
| CEO: | David Moezidis | |||||
| Full Time Employees: | 11700 | |||||
| Address: |
| |||||
| Website: | https://www.bench.com |
Benchmark Electronics, Inc., together with its subsidiaries, operates as a global provider, delivering a comprehensive suite of product design, engineering, technology solutions, and manufacturing services across the Americas, Asia, and Europe. Its capabilities span engineering and technology solutions, encompassing initial product design, prototyping, and comprehensive testing. This includes specialized custom testing setups and the development and construction of automation equipment. Furthermore, Benchmark excels in electronics manufacturing and rigorous testing. This involves the assembly and testing of printed circuit boards and subsystems, alongside thorough evaluations of circuitry and functionality. Their quality assurance extends to environmental, stress, and component reliability assessments, complemented by component engineering, manufacturing defect analysis, in-circuit testing, functional testing, lifecycle testing, and detailed failure analysis. The company also offers precision machining and electromechanical assembly, coupled with comprehensive subsystem and full system integration services that encompass assembly, configuration, and testing across diverse industrial sectors. Beyond core manufacturing, Benchmark provides value-added support systems, comprehensive supply chain management solutions, and direct order fulfillment. Crucially, they offer extensive aftermarket, non-warranty services that span a product’s entire lifecycle, including repair, replacement, refurbishment, remanufacturing, exchange programs, system upgrades, and the production of spare parts. The company’s clientele primarily consists of Original Equipment Manufacturers (OEMs) across critical sectors such as aerospace and defense, medical technologies, complex industrial applications, semiconductor capital equipment, telecommunications, and advanced computing. Benchmark promotes its services and solutions predominantly through a dedicated direct sales force. Established in 1979, the firm, previously known as Electronics, Inc., maintains its headquarters in Tempe, Arizona.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,838,976 | 2,656,105 | 2,659,108 |
| Gross Profit | 271,070 | 270,024 | 264,947 |
| EBITDA | 158,505 | 156,961 | 152,152 |
| Operating Income | 109,664 | 109,411 | 105,289 |
| Net Income | 64,315 | 63,327 | 24,852 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 2,274,755 | 2,139,464 | 2,071,715 |
| Total Liabilities | 1,195,670 | 1,026,151 | 971,912 |
| Total Stockholders Equity | 1,079,085 | 1,113,313 | 1,099,803 |
| Total Debt | 454,342 | 383,475 | 102,439 |
| Cash and Cash Equivalents | 277,391 | 315,152 | 322,400 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 174,294 | 189,225 | 123,964 |
| Capital Expenditure | -77,739 | -33,253 | -38,544 |
| Free Cash Flow | 96,555 | 155,972 | 85,420 |
| Net Income | 64,315 | 63,327 | 24,852 |
| Net Change in Cash | 75,783 | 44,814 | -5,627 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2027 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 3,083,838.473 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 3,153,005.575 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 3,128,113.250 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 233,474.785 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 238,711.368 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 236,826.791 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 112,390.611 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 115,696.089 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 114,043.350 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 173,161.349 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 177,045.168 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 175,647.433 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 3.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 3.190 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 3.100 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 3 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Revenue Performance: Benchmark reported Q2 2025 revenue of $642 million, reflecting consistent top-line results as highlighted in the latest earnings call transcript. This performance aligns with steady demand in key product segments, as evidenced by revenue product segment data.
- Operational Efficiency Focus: The earnings call emphasized management's commitment to managing spending and enhancing operational efficiency, which supports sustained profitability with a notable gross profit margin (TTM) as per key metrics.
- Strong Cash Flow Generation: Financial statements indicate robust free cash flow (TTM), underpinned by positive net cash provided by operating activities in the cash flow statements, providing financial flexibility for reinvestment or debt management.
- Industry Positioning: Benchmark benefits from operating within a stable sector, as reflected in sector performance metrics (sector_perf1y, sector_perf5y), which show consistent growth trends compared to broader market indices.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates BHE intrinsic value between $33.91 – $62.43 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about BHE valuation
Is Benchmark Electronics, Inc. (BHE) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Benchmark Electronics, Inc. (BHE) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BHE a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BHE trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BHE’s P/E ratio?
You can see BHE’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BHE?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BHE a good long-term investment?
Whether BHE fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BHE
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Daily snapshot
0.69
Trading Metrics:
| Open: | 88.1 | Previous Close: | 86.13 | |
| Day Low: | 81.54 | Day High: | 88.85 | |
| Year Low: | 34.44 | Year High: | 89.4 | |
| Price Avg 50: | 74.79 | Price Avg 200: | 53.72 | |
| Volume: | 580624 | Average Volume: | 423915 |
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Login — it's freeBHE full analysis
Welcome to MARKETSNAP’s SWOT analysis for Benchmark Electronics, also known by its ticker BHE. If you’re a long-term investor looking to dig into a player in the electronics manufacturing services space, you’ve come to the right place. Today, we’re breaking down Benchmark Electronics, a company that’s been carving out its niche in providing manufacturing, design, and engineering services to a variety of industries. Let’s unpack what makes this company tick, look at recent developments, and dive into a full SWOT…
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