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Side-by-side financial comparison of BELDEN INC. (BDC) and PATRICK INDUSTRIES INC (PATK). Click either name above to swap in a different company.
PATRICK INDUSTRIES INC is the larger business by last-quarter revenue ($924.2M vs $720.1M, roughly 1.3× BELDEN INC.). BELDEN INC. runs the higher net margin — 9.4% vs 3.1%, a 6.3% gap on every dollar of revenue. On growth, PATRICK INDUSTRIES INC posted the faster year-over-year revenue change (9.2% vs 8.1%). BELDEN INC. produced more free cash flow last quarter ($121.3M vs $112.7M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs -0.5%).
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.
Anduril Industries, Inc. is an American defense technology company specializing in the development of advanced autonomous systems.
BDC vs PATK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $924.2M |
| Net Profit | $67.9M | $29.1M |
| Gross Margin | 36.6% | 23.0% |
| Operating Margin | 12.2% | 6.2% |
| Net Margin | 9.4% | 3.1% |
| Revenue YoY | 8.1% | 9.2% |
| Net Profit YoY | 16.3% | 99.7% |
| EPS (diluted) | $1.70 | $0.82 |
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 | $924.2M | ||
| Q3 25 | $698.2M | $975.6M | ||
| Q2 25 | $672.0M | $1.0B | ||
| Q1 25 | $624.9M | $1.0B | ||
| Q4 24 | $666.0M | $846.1M | ||
| Q3 24 | $654.9M | $919.4M | ||
| Q2 24 | $604.3M | $1.0B | ||
| Q1 24 | $535.7M | $933.5M |
| Q4 25 | $67.9M | $29.1M | ||
| Q3 25 | $56.7M | $35.3M | ||
| Q2 25 | $61.0M | $32.4M | ||
| Q1 25 | $51.9M | $38.2M | ||
| Q4 24 | $58.4M | $14.6M | ||
| Q3 24 | $53.7M | $40.9M | ||
| Q2 24 | $49.0M | $47.9M | ||
| Q1 24 | $37.3M | $35.1M |
| Q4 25 | 36.6% | 23.0% | ||
| Q3 25 | 37.7% | 22.6% | ||
| Q2 25 | 38.5% | 23.9% | ||
| Q1 25 | 39.3% | 22.8% | ||
| Q4 24 | 37.5% | 22.1% | ||
| Q3 24 | 37.3% | 23.1% | ||
| Q2 24 | 37.5% | 22.8% | ||
| Q1 24 | 37.6% | 21.9% |
| Q4 25 | 12.2% | 6.2% | ||
| Q3 25 | 10.9% | 6.8% | ||
| Q2 25 | 11.8% | 8.3% | ||
| Q1 25 | 11.6% | 6.5% | ||
| Q4 24 | 10.4% | 4.7% | ||
| Q3 24 | 11.5% | 8.1% | ||
| Q2 24 | 11.4% | 8.3% | ||
| Q1 24 | 9.9% | 6.4% |
| Q4 25 | 9.4% | 3.1% | ||
| Q3 25 | 8.1% | 3.6% | ||
| Q2 25 | 9.1% | 3.1% | ||
| Q1 25 | 8.3% | 3.8% | ||
| Q4 24 | 8.8% | 1.7% | ||
| Q3 24 | 8.2% | 4.4% | ||
| Q2 24 | 8.1% | 4.7% | ||
| Q1 24 | 7.0% | 3.8% |
| Q4 25 | $1.70 | $0.82 | ||
| Q3 25 | $1.41 | $1.01 | ||
| Q2 25 | $1.53 | $0.96 | ||
| Q1 25 | $1.27 | $1.11 | ||
| Q4 24 | $1.41 | $-1.44 | ||
| Q3 24 | $1.30 | $1.80 | ||
| Q2 24 | $1.19 | $2.16 | ||
| Q1 24 | $0.90 | $1.59 |
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 | $26.4M |
| Total DebtLower is stronger | — | $1.3B |
| Stockholders' EquityBook value | $1.3B | $1.2B |
| Total Assets | $3.5B | $3.1B |
| Debt / EquityLower = less leverage | — | 1.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $389.9M | $26.4M | ||
| Q3 25 | $314.3M | $20.7M | ||
| Q2 25 | $301.5M | $22.0M | ||
| Q1 25 | $259.0M | $86.6M | ||
| Q4 24 | $370.3M | $33.6M | ||
| Q3 24 | $323.0M | $52.6M | ||
| Q2 24 | $564.8M | $44.0M | ||
| Q1 24 | $506.8M | $17.6M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.2B | $1.1B |
| Q4 25 | $3.5B | $3.1B | ||
| Q3 25 | $3.4B | $3.1B | ||
| Q2 25 | $3.4B | $3.1B | ||
| Q1 25 | $3.3B | $3.2B | ||
| Q4 24 | $3.3B | $3.0B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.5B | $3.0B | ||
| Q1 24 | $3.1B | $3.0B |
| Q4 25 | — | 1.10× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.18× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $160.4M | $130.8M |
| Free Cash FlowOCF − Capex | $121.3M | $112.7M |
| FCF MarginFCF / Revenue | 16.8% | 12.2% |
| Capex IntensityCapex / Revenue | 5.4% | 2.0% |
| Cash ConversionOCF / Net Profit | 2.36× | 4.50× |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | $246.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $160.4M | $130.8M | ||
| Q3 25 | $105.0M | $9.1M | ||
| Q2 25 | $82.0M | $149.4M | ||
| Q1 25 | $7.4M | $40.1M | ||
| Q4 24 | $174.7M | $102.7M | ||
| Q3 24 | $91.7M | $51.5M | ||
| Q2 24 | $83.0M | $137.5M | ||
| Q1 24 | $2.7M | $35.2M |
| Q4 25 | $121.3M | $112.7M | ||
| Q3 25 | $65.3M | $-17.2M | ||
| Q2 25 | $56.9M | $131.1M | ||
| Q1 25 | $-24.8M | $19.9M | ||
| Q4 24 | $116.4M | $77.2M | ||
| Q3 24 | $67.2M | $33.7M | ||
| Q2 24 | $61.0M | $120.6M | ||
| Q1 24 | $-21.5M | $19.7M |
| Q4 25 | 16.8% | 12.2% | ||
| Q3 25 | 9.4% | -1.8% | ||
| Q2 25 | 8.5% | 12.5% | ||
| Q1 25 | -4.0% | 2.0% | ||
| Q4 24 | 17.5% | 9.1% | ||
| Q3 24 | 10.3% | 3.7% | ||
| Q2 24 | 10.1% | 11.9% | ||
| Q1 24 | -4.0% | 2.1% |
| Q4 25 | 5.4% | 2.0% | ||
| Q3 25 | 5.7% | 2.7% | ||
| Q2 25 | 3.7% | 1.7% | ||
| Q1 25 | 5.2% | 2.0% | ||
| Q4 24 | 8.8% | 3.0% | ||
| Q3 24 | 3.7% | 1.9% | ||
| Q2 24 | 3.6% | 1.7% | ||
| Q1 24 | 4.5% | 1.7% |
| Q4 25 | 2.36× | 4.50× | ||
| Q3 25 | 1.85× | 0.26× | ||
| Q2 25 | 1.34× | 4.61× | ||
| Q1 25 | 0.14× | 1.05× | ||
| Q4 24 | 2.99× | 7.05× | ||
| Q3 24 | 1.71× | 1.26× | ||
| Q2 24 | 1.69× | 2.87× | ||
| Q1 24 | 0.07× | 1.00× |
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% |
PATK
| Recreational Vehicle | $276.3M | 30% |
| Distribution | $222.4M | 24% |
| Marine | $141.9M | 15% |
| Industrial | $110.8M | 12% |
| Powersports | $104.8M | 11% |
| Manufactured Housing | $67.9M | 7% |
