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Side-by-side financial comparison of BELDEN INC. (BDC) and Distribution Solutions Group, Inc. (DSGR). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($720.1M vs $518.0M, roughly 1.4× Distribution Solutions Group, Inc.). BELDEN INC. runs the higher net margin — 9.4% vs 1.2%, a 8.2% gap on every dollar of revenue. On growth, Distribution Solutions Group, Inc. posted the faster year-over-year revenue change (10.7% vs 8.1%). BELDEN INC. produced more free cash flow last quarter ($121.3M vs $32.9M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs 13.1%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
BDC vs DSGR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $518.0M |
| Net Profit | $67.9M | $6.5M |
| Gross Margin | 36.6% | 32.9% |
| Operating Margin | 12.2% | 4.6% |
| Net Margin | 9.4% | 1.2% |
| Revenue YoY | 8.1% | 10.7% |
| Net Profit YoY | 16.3% | -70.6% |
| EPS (diluted) | $1.70 | $0.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $720.1M | — | ||
| Q3 25 | $698.2M | $518.0M | ||
| Q2 25 | $672.0M | $502.4M | ||
| Q1 25 | $624.9M | $478.0M | ||
| Q4 24 | $666.0M | $480.5M | ||
| Q3 24 | $654.9M | $468.0M | ||
| Q2 24 | $604.3M | $439.5M | ||
| Q1 24 | $535.7M | $416.1M |
| Q4 25 | $67.9M | — | ||
| Q3 25 | $56.7M | $6.5M | ||
| Q2 25 | $61.0M | $5.0M | ||
| Q1 25 | $51.9M | $3.3M | ||
| Q4 24 | $58.4M | $-25.9M | ||
| Q3 24 | $53.7M | $21.9M | ||
| Q2 24 | $49.0M | $1.9M | ||
| Q1 24 | $37.3M | $-5.2M |
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | 32.9% | ||
| Q2 25 | 38.5% | 33.9% | ||
| Q1 25 | 39.3% | 34.3% | ||
| Q4 24 | 37.5% | 33.3% | ||
| Q3 24 | 37.3% | 33.9% | ||
| Q2 24 | 37.5% | 34.5% | ||
| Q1 24 | 37.6% | 34.5% |
| Q4 25 | 12.2% | — | ||
| Q3 25 | 10.9% | 4.6% | ||
| Q2 25 | 11.8% | 5.3% | ||
| Q1 25 | 11.6% | 4.2% | ||
| Q4 24 | 10.4% | 4.2% | ||
| Q3 24 | 11.5% | 4.0% | ||
| Q2 24 | 11.4% | 3.2% | ||
| Q1 24 | 9.9% | 0.7% |
| Q4 25 | 9.4% | — | ||
| Q3 25 | 8.1% | 1.2% | ||
| Q2 25 | 9.1% | 1.0% | ||
| Q1 25 | 8.3% | 0.7% | ||
| Q4 24 | 8.8% | -5.4% | ||
| Q3 24 | 8.2% | 4.7% | ||
| Q2 24 | 8.1% | 0.4% | ||
| Q1 24 | 7.0% | -1.3% |
| Q4 25 | $1.70 | — | ||
| Q3 25 | $1.41 | $0.14 | ||
| Q2 25 | $1.53 | $0.11 | ||
| Q1 25 | $1.27 | $0.07 | ||
| Q4 24 | $1.41 | $-0.55 | ||
| Q3 24 | $1.30 | $0.46 | ||
| Q2 24 | $1.19 | $0.04 | ||
| Q1 24 | $0.90 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $389.9M | $69.2M |
| Total DebtLower is stronger | — | $665.5M |
| Stockholders' EquityBook value | $1.3B | $653.9M |
| Total Assets | $3.5B | $1.8B |
| Debt / EquityLower = less leverage | — | 1.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $389.9M | — | ||
| Q3 25 | $314.3M | $69.2M | ||
| Q2 25 | $301.5M | $47.4M | ||
| Q1 25 | $259.0M | $65.4M | ||
| Q4 24 | $370.3M | $66.5M | ||
| Q3 24 | $323.0M | $61.3M | ||
| Q2 24 | $564.8M | $46.8M | ||
| Q1 24 | $506.8M | $73.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | $665.5M | ||
| Q2 25 | — | $675.0M | ||
| Q1 25 | — | $712.4M | ||
| Q4 24 | — | $693.9M | ||
| Q3 24 | — | $704.1M | ||
| Q2 24 | — | $573.7M | ||
| Q1 24 | — | $535.7M |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $653.9M | ||
| Q2 25 | $1.2B | $649.4M | ||
| Q1 25 | $1.2B | $636.7M | ||
| Q4 24 | $1.3B | $640.5M | ||
| Q3 24 | $1.2B | $680.8M | ||
| Q2 24 | $1.2B | $653.3M | ||
| Q1 24 | $1.2B | $654.7M |
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.4B | $1.8B | ||
| Q2 25 | $3.4B | $1.8B | ||
| Q1 25 | $3.3B | $1.8B | ||
| Q4 24 | $3.3B | $1.7B | ||
| Q3 24 | $3.3B | $1.8B | ||
| Q2 24 | $3.5B | $1.6B | ||
| Q1 24 | $3.1B | $1.5B |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | 1.08× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.82× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $160.4M | $38.4M |
| Free Cash FlowOCF − Capex | $121.3M | $32.9M |
| FCF MarginFCF / Revenue | 16.8% | 6.3% |
| Capex IntensityCapex / Revenue | 5.4% | 1.1% |
| Cash ConversionOCF / Net Profit | 2.36× | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | $92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $160.4M | — | ||
| Q3 25 | $105.0M | $38.4M | ||
| Q2 25 | $82.0M | $33.3M | ||
| Q1 25 | $7.4M | $-4.8M | ||
| Q4 24 | $174.7M | $45.7M | ||
| Q3 24 | $91.7M | $-17.3M | ||
| Q2 24 | $83.0M | $21.4M | ||
| Q1 24 | $2.7M | $6.6M |
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | $32.9M | ||
| Q2 25 | $56.9M | $28.7M | ||
| Q1 25 | $-24.8M | $-10.4M | ||
| Q4 24 | $116.4M | $41.1M | ||
| Q3 24 | $67.2M | $-20.5M | ||
| Q2 24 | $61.0M | $18.0M | ||
| Q1 24 | $-21.5M | $4.2M |
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | 6.3% | ||
| Q2 25 | 8.5% | 5.7% | ||
| Q1 25 | -4.0% | -2.2% | ||
| Q4 24 | 17.5% | 8.6% | ||
| Q3 24 | 10.3% | -4.4% | ||
| Q2 24 | 10.1% | 4.1% | ||
| Q1 24 | -4.0% | 1.0% |
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.7% | 1.1% | ||
| Q2 25 | 3.7% | 0.9% | ||
| Q1 25 | 5.2% | 1.2% | ||
| Q4 24 | 8.8% | 1.0% | ||
| Q3 24 | 3.7% | 0.7% | ||
| Q2 24 | 3.6% | 0.8% | ||
| Q1 24 | 4.5% | 0.6% |
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 5.95× | ||
| Q2 25 | 1.34× | 6.66× | ||
| Q1 25 | 0.14× | -1.46× | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | -0.79× | ||
| Q2 24 | 1.69× | 11.28× | ||
| Q1 24 | 0.07× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
| Automation Solutions Segment | $397.7M | 55% |
| Broadband Solutions | $164.8M | 23% |
| Smart Buildings Solutions | $157.7M | 22% |
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
