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Side-by-side financial comparison of BELDEN INC. (BDC) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
NCR Atleos Corp is the larger business by last-quarter revenue ($1.2B vs $696.4M, roughly 1.7× BELDEN INC.). BELDEN INC. runs the higher net margin — 7.3% vs 7.2%, a 0.1% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs 4.0%). NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs 4.9%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
BDC vs NATL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $1.2B |
| Net Profit | $51.0M | $83.0M |
| Gross Margin | 37.1% | — |
| Operating Margin | 11.2% | 13.5% |
| Net Margin | 7.3% | 7.2% |
| Revenue YoY | 11.4% | 4.0% |
| Net Profit YoY | -1.8% | 102.4% |
| EPS (diluted) | $1.30 | $1.09 |
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 | $1.2B | ||
| Q3 25 | $698.2M | $1.1B | ||
| Q2 25 | $672.0M | $1.1B | ||
| Q1 25 | $624.9M | $979.0M | ||
| Q4 24 | $666.0M | $1.1B | ||
| Q3 24 | $654.9M | $1.1B | ||
| Q2 24 | $604.3M | $1.1B |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $83.0M | ||
| Q3 25 | $56.7M | $26.0M | ||
| Q2 25 | $61.0M | $39.0M | ||
| Q1 25 | $51.9M | $14.0M | ||
| Q4 24 | $58.4M | $41.0M | ||
| Q3 24 | $53.7M | $21.0M | ||
| 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% | 13.5% | ||
| Q3 25 | 10.9% | 9.8% | ||
| Q2 25 | 11.8% | 10.8% | ||
| Q1 25 | 11.6% | 9.5% | ||
| Q4 24 | 10.4% | 13.4% | ||
| Q3 24 | 11.5% | 10.6% | ||
| Q2 24 | 11.4% | 9.8% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | 7.2% | ||
| Q3 25 | 8.1% | 2.3% | ||
| Q2 25 | 9.1% | 3.5% | ||
| Q1 25 | 8.3% | 1.4% | ||
| Q4 24 | 8.8% | 3.7% | ||
| Q3 24 | 8.2% | 2.0% | ||
| Q2 24 | 8.1% | 2.5% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $1.09 | ||
| Q3 25 | $1.41 | $0.34 | ||
| Q2 25 | $1.53 | $0.52 | ||
| Q1 25 | $1.27 | $0.19 | ||
| Q4 24 | $1.41 | $0.56 | ||
| Q3 24 | $1.30 | $0.28 | ||
| Q2 24 | $1.19 | $0.37 |
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 | $456.0M |
| Total DebtLower is stronger | $1.3B | $2.7B |
| Stockholders' EquityBook value | $1.3B | $403.0M |
| Total Assets | — | $5.7B |
| Debt / EquityLower = less leverage | 0.98× | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $456.0M | ||
| Q3 25 | $314.3M | $412.0M | ||
| Q2 25 | $301.5M | $357.0M | ||
| Q1 25 | $259.0M | $352.0M | ||
| Q4 24 | $370.3M | $419.0M | ||
| Q3 24 | $323.0M | $395.0M | ||
| Q2 24 | $564.8M | $374.0M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $403.0M | ||
| Q3 25 | $1.2B | $330.0M | ||
| Q2 25 | $1.2B | $350.0M | ||
| Q1 25 | $1.2B | $275.0M | ||
| Q4 24 | $1.3B | $219.0M | ||
| Q3 24 | $1.2B | $264.0M | ||
| Q2 24 | $1.2B | $250.0M |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $5.7B | ||
| Q3 25 | $3.4B | $5.7B | ||
| Q2 25 | $3.4B | $5.8B | ||
| Q1 25 | $3.3B | $5.7B | ||
| Q4 24 | $3.3B | $5.5B | ||
| Q3 24 | $3.3B | $5.7B | ||
| Q2 24 | $3.5B | $5.8B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 6.63× | ||
| Q3 25 | — | 8.45× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.05× | ||
| Q3 24 | — | — | ||
| 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 | — | $231.0M |
| Free Cash FlowOCF − Capex | $-63.1M | $194.0M |
| FCF MarginFCF / Revenue | -9.1% | 16.8% |
| Capex IntensityCapex / Revenue | 6.4% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $231.0M | ||
| Q3 25 | $105.0M | $25.0M | ||
| Q2 25 | $82.0M | $-23.0M | ||
| Q1 25 | $7.4M | $123.0M | ||
| Q4 24 | $174.7M | $80.0M | ||
| Q3 24 | $91.7M | $107.0M | ||
| Q2 24 | $83.0M | $9.0M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $194.0M | ||
| Q3 25 | $65.3M | $-5.0M | ||
| Q2 25 | $56.9M | $-44.0M | ||
| Q1 25 | $-24.8M | $94.0M | ||
| Q4 24 | $116.4M | $62.0M | ||
| Q3 24 | $67.2M | $85.0M | ||
| Q2 24 | $61.0M | $-14.0M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 16.8% | ||
| Q3 25 | 9.4% | -0.4% | ||
| Q2 25 | 8.5% | -4.0% | ||
| Q1 25 | -4.0% | 9.6% | ||
| Q4 24 | 17.5% | 5.6% | ||
| Q3 24 | 10.3% | 7.9% | ||
| Q2 24 | 10.1% | -1.3% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 3.2% | ||
| Q3 25 | 5.7% | 2.7% | ||
| Q2 25 | 3.7% | 1.9% | ||
| Q1 25 | 5.2% | 3.0% | ||
| Q4 24 | 8.8% | 1.6% | ||
| Q3 24 | 3.7% | 2.1% | ||
| Q2 24 | 3.6% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 2.78× | ||
| Q3 25 | 1.85× | 0.96× | ||
| Q2 25 | 1.34× | -0.59× | ||
| Q1 25 | 0.14× | 8.79× | ||
| Q4 24 | 2.99× | 1.95× | ||
| Q3 24 | 1.71× | 5.10× | ||
| Q2 24 | 1.69× | 0.33× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
