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Side-by-side financial comparison of BELDEN INC. (BDC) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $696.4M, roughly 1.1× BELDEN INC.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 7.3%, a 3.2% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 11.4%). Global Business Travel Group, Inc. produced more free cash flow last quarter ($13.0M vs $-63.1M). Over the past eight quarters, Global Business Travel Group, Inc.'s revenue compounded faster (13.9% CAGR vs 7.3%).
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.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
BDC vs GBTG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $792.0M |
| Net Profit | $51.0M | $83.0M |
| Gross Margin | 37.1% | — |
| Operating Margin | 11.2% | 3.7% |
| Net Margin | 7.3% | 10.5% |
| Revenue YoY | 11.4% | 34.0% |
| Net Profit YoY | -1.8% | 692.9% |
| EPS (diluted) | $1.30 | $0.16 |
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.
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $792.0M | ||
| Q3 25 | $698.2M | $674.0M | ||
| Q2 25 | $672.0M | $631.0M | ||
| Q1 25 | $624.9M | $621.0M | ||
| Q4 24 | $666.0M | $591.0M | ||
| Q3 24 | $654.9M | $597.0M | ||
| Q2 24 | $604.3M | $625.0M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $83.0M | ||
| Q3 25 | $56.7M | $-62.0M | ||
| Q2 25 | $61.0M | $15.0M | ||
| Q1 25 | $51.9M | $75.0M | ||
| Q4 24 | $58.4M | $-14.0M | ||
| Q3 24 | $53.7M | $-128.0M | ||
| Q2 24 | $49.0M | $27.0M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 3.7% | ||
| Q3 25 | 10.9% | 1.8% | ||
| Q2 25 | 11.8% | 5.4% | ||
| Q1 25 | 11.6% | 8.9% | ||
| Q4 24 | 10.4% | 5.1% | ||
| Q3 24 | 11.5% | 4.5% | ||
| Q2 24 | 11.4% | 6.7% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | 10.5% | ||
| Q3 25 | 8.1% | -9.2% | ||
| Q2 25 | 9.1% | 2.4% | ||
| Q1 25 | 8.3% | 12.1% | ||
| Q4 24 | 8.8% | -2.4% | ||
| Q3 24 | 8.2% | -21.4% | ||
| Q2 24 | 8.1% | 4.3% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $0.16 | ||
| Q3 25 | $1.41 | $-0.13 | ||
| Q2 25 | $1.53 | $0.03 | ||
| Q1 25 | $1.27 | $0.16 | ||
| Q4 24 | $1.41 | $-0.04 | ||
| Q3 24 | $1.30 | $-0.28 | ||
| Q2 24 | $1.19 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $434.0M |
| Total DebtLower is stronger | $1.3B | $1.4B |
| Stockholders' EquityBook value | $1.3B | $1.6B |
| Total Assets | — | $4.9B |
| Debt / EquityLower = less leverage | 0.98× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $434.0M | ||
| Q3 25 | $314.3M | $427.0M | ||
| Q2 25 | $301.5M | $601.0M | ||
| Q1 25 | $259.0M | $552.0M | ||
| Q4 24 | $370.3M | $536.0M | ||
| Q3 24 | $323.0M | $524.0M | ||
| Q2 24 | $564.8M | $515.0M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $4.9B | ||
| Q3 25 | $3.4B | $4.8B | ||
| Q2 25 | $3.4B | $3.9B | ||
| Q1 25 | $3.3B | $3.8B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.3B | $3.8B | ||
| Q2 24 | $3.5B | $3.8B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.26× | ||
| Q2 24 | — | — |
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 | — | $52.0M |
| Free Cash FlowOCF − Capex | $-63.1M | $13.0M |
| FCF MarginFCF / Revenue | -9.1% | 1.6% |
| Capex IntensityCapex / Revenue | 6.4% | 4.9% |
| Cash ConversionOCF / Net Profit | — | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $52.0M | ||
| Q3 25 | $105.0M | $71.0M | ||
| Q2 25 | $82.0M | $57.0M | ||
| Q1 25 | $7.4M | $53.0M | ||
| Q4 24 | $174.7M | $65.0M | ||
| Q3 24 | $91.7M | $85.0M | ||
| Q2 24 | $83.0M | $73.0M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $13.0M | ||
| Q3 25 | $65.3M | $38.0M | ||
| Q2 25 | $56.9M | $27.0M | ||
| Q1 25 | $-24.8M | $26.0M | ||
| Q4 24 | $116.4M | $33.0M | ||
| Q3 24 | $67.2M | $59.0M | ||
| Q2 24 | $61.0M | $49.0M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 1.6% | ||
| Q3 25 | 9.4% | 5.6% | ||
| Q2 25 | 8.5% | 4.3% | ||
| Q1 25 | -4.0% | 4.2% | ||
| Q4 24 | 17.5% | 5.6% | ||
| Q3 24 | 10.3% | 9.9% | ||
| Q2 24 | 10.1% | 7.8% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 4.9% | ||
| Q3 25 | 5.7% | 4.9% | ||
| Q2 25 | 3.7% | 4.8% | ||
| Q1 25 | 5.2% | 4.3% | ||
| Q4 24 | 8.8% | 5.4% | ||
| Q3 24 | 3.7% | 4.4% | ||
| Q2 24 | 3.6% | 3.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 0.63× | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | 3.80× | ||
| Q1 25 | 0.14× | 0.71× | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | 2.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
