vs
Side-by-side financial comparison of BELDEN INC. (BDC) and MASIMO CORP (MASI). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $371.5M, roughly 1.9× MASIMO CORP). BELDEN INC. runs the higher net margin — 7.3% vs -27.0%, a 34.4% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs -26.4%). MASIMO CORP produced more free cash flow last quarter ($50.9M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs -17.7%).
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.
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
BDC vs MASI — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $371.5M |
| Net Profit | $51.0M | $-100.4M |
| Gross Margin | 37.1% | 62.1% |
| Operating Margin | 11.2% | 22.5% |
| Net Margin | 7.3% | -27.0% |
| Revenue YoY | 11.4% | -26.4% |
| Net Profit YoY | -1.8% | -1124.5% |
| EPS (diluted) | $1.30 | $-1.84 |
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 | — | ||
| Q3 25 | $698.2M | $371.5M | ||
| Q2 25 | $672.0M | $370.9M | ||
| Q1 25 | $624.9M | $372.0M | ||
| Q4 24 | $666.0M | $600.7M | ||
| Q3 24 | $654.9M | $504.6M | ||
| Q2 24 | $604.3M | $496.3M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | — | ||
| Q3 25 | $56.7M | $-100.4M | ||
| Q2 25 | $61.0M | $51.3M | ||
| Q1 25 | $51.9M | $-170.7M | ||
| Q4 24 | $58.4M | $-349.6M | ||
| Q3 24 | $53.7M | $9.8M | ||
| Q2 24 | $49.0M | $16.0M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | 62.1% | ||
| Q2 25 | 38.5% | 62.9% | ||
| Q1 25 | 39.3% | 62.9% | ||
| Q4 24 | 37.5% | 40.7% | ||
| Q3 24 | 37.3% | 52.2% | ||
| Q2 24 | 37.5% | 51.3% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | — | ||
| Q3 25 | 10.9% | 22.5% | ||
| Q2 25 | 11.8% | 17.4% | ||
| Q1 25 | 11.6% | 21.0% | ||
| Q4 24 | 10.4% | -59.8% | ||
| Q3 24 | 11.5% | 6.0% | ||
| Q2 24 | 11.4% | 5.7% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 8.1% | -27.0% | ||
| Q2 25 | 9.1% | 13.8% | ||
| Q1 25 | 8.3% | -45.9% | ||
| Q4 24 | 8.8% | -58.2% | ||
| Q3 24 | 8.2% | 1.9% | ||
| Q2 24 | 8.1% | 3.2% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | — | ||
| Q3 25 | $1.41 | $-1.84 | ||
| Q2 25 | $1.53 | $0.94 | ||
| Q1 25 | $1.27 | $-3.12 | ||
| Q4 24 | $1.41 | $-6.54 | ||
| Q3 24 | $1.30 | $0.18 | ||
| Q2 24 | $1.19 | $0.29 |
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 | $312.3M |
| Total DebtLower is stronger | $1.3B | $559.1M |
| Stockholders' EquityBook value | $1.3B | $810.0M |
| Total Assets | — | $1.8B |
| Debt / EquityLower = less leverage | 0.98× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | — | ||
| Q3 25 | $314.3M | $312.3M | ||
| Q2 25 | $301.5M | $149.6M | ||
| Q1 25 | $259.0M | $130.8M | ||
| Q4 24 | $370.3M | $177.6M | ||
| Q3 24 | $323.0M | $158.5M | ||
| Q2 24 | $564.8M | $129.6M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $559.1M | ||
| Q2 25 | — | $613.7M | ||
| Q1 25 | — | $651.0M | ||
| Q4 24 | — | $765.2M | ||
| Q3 24 | — | $772.6M | ||
| Q2 24 | — | $781.6M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | $810.0M | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $946.4M | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.2B | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.4B | $1.8B | ||
| Q2 25 | $3.4B | $2.4B | ||
| Q1 25 | $3.3B | $2.3B | ||
| Q4 24 | $3.3B | $2.6B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.5B | $2.9B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.57× |
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 | — | $56.8M |
| Free Cash FlowOCF − Capex | $-63.1M | $50.9M |
| FCF MarginFCF / Revenue | -9.1% | 13.7% |
| Capex IntensityCapex / Revenue | 6.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | — | ||
| Q3 25 | $105.0M | $56.8M | ||
| Q2 25 | $82.0M | $69.4M | ||
| Q1 25 | $7.4M | $31.1M | ||
| Q4 24 | $174.7M | $50.5M | ||
| Q3 24 | $91.7M | $25.6M | ||
| Q2 24 | $83.0M | $74.5M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | — | ||
| Q3 25 | $65.3M | $50.9M | ||
| Q2 25 | $56.9M | $65.6M | ||
| Q1 25 | $-24.8M | $28.5M | ||
| Q4 24 | $116.4M | $46.0M | ||
| Q3 24 | $67.2M | $16.9M | ||
| Q2 24 | $61.0M | $66.9M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | — | ||
| Q3 25 | 9.4% | 13.7% | ||
| Q2 25 | 8.5% | 17.7% | ||
| Q1 25 | -4.0% | 7.7% | ||
| Q4 24 | 17.5% | 7.7% | ||
| Q3 24 | 10.3% | 3.3% | ||
| Q2 24 | 10.1% | 13.5% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | — | ||
| Q3 25 | 5.7% | 1.6% | ||
| Q2 25 | 3.7% | 1.0% | ||
| Q1 25 | 5.2% | 0.7% | ||
| Q4 24 | 8.8% | 0.7% | ||
| Q3 24 | 3.7% | 1.7% | ||
| Q2 24 | 3.6% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | 1.35× | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | 2.61× | ||
| Q2 24 | 1.69× | 4.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
