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Side-by-side financial comparison of BELDEN INC. (BDC) and ENERGIZER HOLDINGS, INC. (ENR). Click either name above to swap in a different company.
ENERGIZER HOLDINGS, INC. is the larger business by last-quarter revenue ($778.9M vs $720.1M, roughly 1.1× BELDEN INC.). BELDEN INC. runs the higher net margin — 9.4% vs -0.4%, a 9.9% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (8.1% vs 6.5%). ENERGIZER HOLDINGS, INC. produced more free cash flow last quarter ($124.2M vs $121.3M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs 8.4%).
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.
Energizer Holdings, Inc. is an American manufacturer and one of the world's largest manufacturers of batteries, headquartered in Clayton, Missouri. It produces batteries under the Energizer, Ray-O-Vac, Varta, and Eveready brand names and formerly owned several personal care businesses until it separated that side of the business into a new company called Edgewell Personal Care in 2015.
BDC vs ENR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $778.9M |
| Net Profit | $67.9M | $-3.4M |
| Gross Margin | 36.6% | 32.9% |
| Operating Margin | 12.2% | -0.6% |
| Net Margin | 9.4% | -0.4% |
| Revenue YoY | 8.1% | 6.5% |
| Net Profit YoY | 16.3% | -115.2% |
| EPS (diluted) | $1.70 | — |
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 | $778.9M | ||
| Q3 25 | $698.2M | $832.8M | ||
| Q2 25 | $672.0M | $725.3M | ||
| Q1 25 | $624.9M | $662.9M | ||
| Q4 24 | $666.0M | $731.7M | ||
| Q3 24 | $654.9M | $805.7M | ||
| Q2 24 | $604.3M | $701.4M | ||
| Q1 24 | $535.7M | $663.3M |
| Q4 25 | $67.9M | $-3.4M | ||
| Q3 25 | $56.7M | $34.9M | ||
| Q2 25 | $61.0M | $153.5M | ||
| Q1 25 | $51.9M | $28.3M | ||
| Q4 24 | $58.4M | $22.3M | ||
| Q3 24 | $53.7M | $47.6M | ||
| Q2 24 | $49.0M | $-43.8M | ||
| Q1 24 | $37.3M | $32.4M |
| Q4 25 | 36.6% | 32.9% | ||
| Q3 25 | 37.7% | 36.6% | ||
| Q2 25 | 38.5% | 55.1% | ||
| Q1 25 | 39.3% | 39.1% | ||
| Q4 24 | 37.5% | 36.8% | ||
| Q3 24 | 37.3% | 38.1% | ||
| Q2 24 | 37.5% | 39.5% | ||
| Q1 24 | 37.6% | 38.2% |
| Q4 25 | 12.2% | -0.6% | ||
| Q3 25 | 10.9% | 6.4% | ||
| Q2 25 | 11.8% | 22.6% | ||
| Q1 25 | 11.6% | 5.5% | ||
| Q4 24 | 10.4% | 4.1% | ||
| Q3 24 | 11.5% | 7.4% | ||
| Q2 24 | 11.4% | -8.2% | ||
| Q1 24 | 9.9% | 6.4% |
| Q4 25 | 9.4% | -0.4% | ||
| Q3 25 | 8.1% | 4.2% | ||
| Q2 25 | 9.1% | 21.2% | ||
| Q1 25 | 8.3% | 4.3% | ||
| Q4 24 | 8.8% | 3.0% | ||
| Q3 24 | 8.2% | 5.9% | ||
| Q2 24 | 8.1% | -6.2% | ||
| Q1 24 | 7.0% | 4.9% |
| Q4 25 | $1.70 | — | ||
| Q3 25 | $1.41 | — | ||
| Q2 25 | $1.53 | — | ||
| Q1 25 | $1.27 | — | ||
| Q4 24 | $1.41 | — | ||
| Q3 24 | $1.30 | — | ||
| Q2 24 | $1.19 | — | ||
| Q1 24 | $0.90 | — |
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 | $214.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $141.3M |
| Total Assets | $3.5B | $4.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $389.9M | $214.8M | ||
| Q3 25 | $314.3M | $236.2M | ||
| Q2 25 | $301.5M | $171.1M | ||
| Q1 25 | $259.0M | $139.3M | ||
| Q4 24 | $370.3M | $195.9M | ||
| Q3 24 | $323.0M | $216.9M | ||
| Q2 24 | $564.8M | $146.7M | ||
| Q1 24 | $506.8M | $158.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.2B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $3.2B |
| Q4 25 | $1.3B | $141.3M | ||
| Q3 25 | $1.2B | $169.9M | ||
| Q2 25 | $1.2B | $183.2M | ||
| Q1 25 | $1.2B | $133.9M | ||
| Q4 24 | $1.3B | $140.6M | ||
| Q3 24 | $1.2B | $135.8M | ||
| Q2 24 | $1.2B | $123.4M | ||
| Q1 24 | $1.2B | $191.3M |
| Q4 25 | $3.5B | $4.4B | ||
| Q3 25 | $3.4B | $4.6B | ||
| Q2 25 | $3.4B | $4.5B | ||
| Q1 25 | $3.3B | $4.2B | ||
| Q4 24 | $3.3B | $4.2B | ||
| Q3 24 | $3.3B | $4.3B | ||
| Q2 24 | $3.5B | $4.2B | ||
| Q1 24 | $3.1B | $4.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 20.28× | ||
| Q2 25 | — | 17.57× | ||
| Q1 25 | — | 23.56× | ||
| Q4 24 | — | 22.17× | ||
| Q3 24 | — | 23.51× | ||
| Q2 24 | — | 26.04× | ||
| Q1 24 | — | 16.86× |
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 | $149.5M |
| Free Cash FlowOCF − Capex | $121.3M | $124.2M |
| FCF MarginFCF / Revenue | 16.8% | 15.9% |
| Capex IntensityCapex / Revenue | 5.4% | 3.2% |
| Cash ConversionOCF / Net Profit | 2.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | $145.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $160.4M | $149.5M | ||
| Q3 25 | $105.0M | $61.5M | ||
| Q2 25 | $82.0M | $21.4M | ||
| Q1 25 | $7.4M | $-12.8M | ||
| Q4 24 | $174.7M | $77.0M | ||
| Q3 24 | $91.7M | $168.9M | ||
| Q2 24 | $83.0M | $45.8M | ||
| Q1 24 | $2.7M | $36.8M |
| Q4 25 | $121.3M | $124.2M | ||
| Q3 25 | $65.3M | $46.7M | ||
| Q2 25 | $56.9M | $7.9M | ||
| Q1 25 | $-24.8M | $-33.8M | ||
| Q4 24 | $116.4M | $42.4M | ||
| Q3 24 | $67.2M | $141.5M | ||
| Q2 24 | $61.0M | $27.3M | ||
| Q1 24 | $-21.5M | $10.3M |
| Q4 25 | 16.8% | 15.9% | ||
| Q3 25 | 9.4% | 5.6% | ||
| Q2 25 | 8.5% | 1.1% | ||
| Q1 25 | -4.0% | -5.1% | ||
| Q4 24 | 17.5% | 5.8% | ||
| Q3 24 | 10.3% | 17.6% | ||
| Q2 24 | 10.1% | 3.9% | ||
| Q1 24 | -4.0% | 1.6% |
| Q4 25 | 5.4% | 3.2% | ||
| Q3 25 | 5.7% | 1.8% | ||
| Q2 25 | 3.7% | 1.9% | ||
| Q1 25 | 5.2% | 3.2% | ||
| Q4 24 | 8.8% | 4.7% | ||
| Q3 24 | 3.7% | 3.4% | ||
| Q2 24 | 3.6% | 2.6% | ||
| Q1 24 | 4.5% | 4.0% |
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 1.76× | ||
| Q2 25 | 1.34× | 0.14× | ||
| Q1 25 | 0.14× | -0.45× | ||
| Q4 24 | 2.99× | 3.45× | ||
| Q3 24 | 1.71× | 3.55× | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 0.07× | 1.14× |
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% |
ENR
| Alkaline Batteries | $666.5M | 86% |
| Auto Care | $93.7M | 12% |
| Lights | $18.7M | 2% |
