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Side-by-side financial comparison of BELDEN INC. (BDC) and LANDSTAR SYSTEM INC (LSTR). Click either name above to swap in a different company.
LANDSTAR SYSTEM INC is the larger business by last-quarter revenue ($1.2B vs $720.1M, roughly 1.6× BELDEN INC.). BELDEN INC. runs the higher net margin — 9.4% vs 3.4%, a 6.1% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (8.1% vs 1.6%). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs -2.2%).
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.
Landstar System, Inc. is an American transportation services company specializing in logistics and, more specifically, third-party logistics. Landstar utilizes an extensive network of over 8,800 independent owner-operators, referred to internally as business capacity owners (BCOs), over 1,000 independent freight agents, and over 70,000 vetted carriers. Landstar provides services principally throughout the United States and to a lesser extent in Canada and between the U.S. and Canada, Mexico, ...
BDC vs LSTR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $1.2B |
| Net Profit | $67.9M | $39.4M |
| Gross Margin | 36.6% | 9.6% |
| Operating Margin | 12.2% | 4.5% |
| Net Margin | 9.4% | 3.4% |
| Revenue YoY | 8.1% | 1.6% |
| Net Profit YoY | 16.3% | 32.3% |
| EPS (diluted) | $1.70 | $1.16 |
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 | — | $1.2B | ||
| Q4 25 | $720.1M | $1.2B | ||
| Q3 25 | $698.2M | $1.2B | ||
| Q2 25 | $672.0M | $1.2B | ||
| Q1 25 | $624.9M | $1.2B | ||
| Q4 24 | $666.0M | $1.2B | ||
| Q3 24 | $654.9M | $1.2B | ||
| Q2 24 | $604.3M | $1.2B |
| Q1 26 | — | $39.4M | ||
| Q4 25 | $67.9M | $23.9M | ||
| Q3 25 | $56.7M | $19.4M | ||
| Q2 25 | $61.0M | $41.9M | ||
| Q1 25 | $51.9M | $29.8M | ||
| Q4 24 | $58.4M | $46.2M | ||
| Q3 24 | $53.7M | $50.0M | ||
| Q2 24 | $49.0M | $52.6M |
| Q1 26 | — | 9.6% | ||
| 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 | — | 4.5% | ||
| Q4 25 | 12.2% | 2.5% | ||
| Q3 25 | 10.9% | 2.2% | ||
| Q2 25 | 11.8% | 4.6% | ||
| Q1 25 | 11.6% | 3.4% | ||
| Q4 24 | 10.4% | 4.8% | ||
| Q3 24 | 11.5% | 5.2% | ||
| Q2 24 | 11.4% | 5.6% |
| Q1 26 | — | 3.4% | ||
| Q4 25 | 9.4% | 2.0% | ||
| Q3 25 | 8.1% | 1.6% | ||
| Q2 25 | 9.1% | 3.5% | ||
| Q1 25 | 8.3% | 2.6% | ||
| Q4 24 | 8.8% | 3.8% | ||
| Q3 24 | 8.2% | 4.1% | ||
| Q2 24 | 8.1% | 4.3% |
| Q1 26 | — | $1.16 | ||
| Q4 25 | $1.70 | $0.70 | ||
| Q3 25 | $1.41 | $0.56 | ||
| Q2 25 | $1.53 | $1.20 | ||
| Q1 25 | $1.27 | $0.85 | ||
| Q4 24 | $1.41 | $1.30 | ||
| Q3 24 | $1.30 | $1.41 | ||
| Q2 24 | $1.19 | $1.48 |
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 | $411.0M |
| Total DebtLower is stronger | — | $26.1M |
| Stockholders' EquityBook value | $1.3B | $799.0M |
| Total Assets | $3.5B | $1.6B |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $411.0M | ||
| Q4 25 | $389.9M | $452.2M | ||
| Q3 25 | $314.3M | $434.4M | ||
| Q2 25 | $301.5M | $426.2M | ||
| Q1 25 | $259.0M | $473.4M | ||
| Q4 24 | $370.3M | $566.6M | ||
| Q3 24 | $323.0M | $531.3M | ||
| Q2 24 | $564.8M | $504.0M |
| Q1 26 | — | $26.1M | ||
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 |
| Q1 26 | — | $799.0M | ||
| Q4 25 | $1.3B | $795.7M | ||
| Q3 25 | $1.2B | $888.7M | ||
| Q2 25 | $1.2B | $921.8M | ||
| Q1 25 | $1.2B | $930.8M | ||
| Q4 24 | $1.3B | $972.4M | ||
| Q3 24 | $1.2B | $1.0B | ||
| Q2 24 | $1.2B | $1.0B |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.5B | $1.6B | ||
| Q3 25 | $3.4B | $1.7B | ||
| Q2 25 | $3.4B | $1.7B | ||
| Q1 25 | $3.3B | $1.7B | ||
| Q4 24 | $3.3B | $1.8B | ||
| Q3 24 | $3.3B | $1.8B | ||
| Q2 24 | $3.5B | $1.8B |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× |
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 | — |
| Free Cash FlowOCF − Capex | $121.3M | — |
| FCF MarginFCF / Revenue | 16.8% | — |
| Capex IntensityCapex / Revenue | 5.4% | — |
| Cash ConversionOCF / Net Profit | 2.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $72.7M | ||
| Q3 25 | $105.0M | $89.3M | ||
| Q2 25 | $82.0M | $7.1M | ||
| Q1 25 | $7.4M | $55.7M | ||
| Q4 24 | $174.7M | $61.1M | ||
| Q3 24 | $91.7M | $83.1M | ||
| Q2 24 | $83.0M | $48.1M |
| Q1 26 | — | — | ||
| Q4 25 | $121.3M | $70.5M | ||
| Q3 25 | $65.3M | $86.0M | ||
| Q2 25 | $56.9M | $4.7M | ||
| Q1 25 | $-24.8M | $53.8M | ||
| Q4 24 | $116.4M | $54.4M | ||
| Q3 24 | $67.2M | $75.6M | ||
| Q2 24 | $61.0M | $40.6M |
| Q1 26 | — | — | ||
| Q4 25 | 16.8% | 6.0% | ||
| Q3 25 | 9.4% | 7.1% | ||
| Q2 25 | 8.5% | 0.4% | ||
| Q1 25 | -4.0% | 4.7% | ||
| Q4 24 | 17.5% | 4.5% | ||
| Q3 24 | 10.3% | 6.2% | ||
| Q2 24 | 10.1% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 5.4% | 0.2% | ||
| Q3 25 | 5.7% | 0.3% | ||
| Q2 25 | 3.7% | 0.2% | ||
| Q1 25 | 5.2% | 0.2% | ||
| Q4 24 | 8.8% | 0.6% | ||
| Q3 24 | 3.7% | 0.6% | ||
| Q2 24 | 3.6% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 3.04× | ||
| Q3 25 | 1.85× | 4.61× | ||
| Q2 25 | 1.34× | 0.17× | ||
| Q1 25 | 0.14× | 1.87× | ||
| Q4 24 | 2.99× | 1.32× | ||
| Q3 24 | 1.71× | 1.66× | ||
| Q2 24 | 1.69× | 0.91× |
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% |
LSTR
Segment breakdown not available.
