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Side-by-side financial comparison of BELDEN INC. (BDC) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $430.0M, roughly 1.6× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 7.3%, a 0.3% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $-63.1M). Over the past eight quarters, PEGASYSTEMS INC's revenue compounded faster (10.7% 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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
BDC vs PEGA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $430.0M |
| Net Profit | $51.0M | $32.8M |
| Gross Margin | 37.1% | 75.2% |
| Operating Margin | 11.2% | 8.6% |
| Net Margin | 7.3% | 7.6% |
| Revenue YoY | 11.4% | -9.6% |
| Net Profit YoY | -1.8% | — |
| EPS (diluted) | $1.30 | $0.18 |
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 | $430.0M | ||
| Q4 25 | $720.1M | $504.3M | ||
| Q3 25 | $698.2M | $381.4M | ||
| Q2 25 | $672.0M | $384.5M | ||
| Q1 25 | $624.9M | $475.6M | ||
| Q4 24 | $666.0M | $490.8M | ||
| Q3 24 | $654.9M | $325.1M | ||
| Q2 24 | $604.3M | $351.2M |
| Q1 26 | $51.0M | $32.8M | ||
| Q4 25 | $67.9M | $234.6M | ||
| Q3 25 | $56.7M | $43.4M | ||
| Q2 25 | $61.0M | $30.1M | ||
| Q1 25 | $51.9M | $85.4M | ||
| Q4 24 | $58.4M | $119.1M | ||
| Q3 24 | $53.7M | $-14.4M | ||
| Q2 24 | $49.0M | $6.6M |
| Q1 26 | 37.1% | 75.2% | ||
| Q4 25 | 36.6% | 79.5% | ||
| Q3 25 | 37.7% | 72.2% | ||
| Q2 25 | 38.5% | 71.5% | ||
| Q1 25 | 39.3% | 78.5% | ||
| Q4 24 | 37.5% | 79.1% | ||
| Q3 24 | 37.3% | 70.2% | ||
| Q2 24 | 37.5% | 72.4% |
| Q1 26 | 11.2% | 8.6% | ||
| Q4 25 | 12.2% | 20.7% | ||
| Q3 25 | 10.9% | 3.8% | ||
| Q2 25 | 11.8% | 4.5% | ||
| Q1 25 | 11.6% | 26.7% | ||
| Q4 24 | 10.4% | 29.1% | ||
| Q3 24 | 11.5% | -3.6% | ||
| Q2 24 | 11.4% | 3.7% |
| Q1 26 | 7.3% | 7.6% | ||
| Q4 25 | 9.4% | 46.5% | ||
| Q3 25 | 8.1% | 11.4% | ||
| Q2 25 | 9.1% | 7.8% | ||
| Q1 25 | 8.3% | 18.0% | ||
| Q4 24 | 8.8% | 24.3% | ||
| Q3 24 | 8.2% | -4.4% | ||
| Q2 24 | 8.1% | 1.9% |
| Q1 26 | $1.30 | $0.18 | ||
| Q4 25 | $1.70 | $0.81 | ||
| Q3 25 | $1.41 | $0.24 | ||
| Q2 25 | $1.53 | $0.17 | ||
| Q1 25 | $1.27 | $0.91 | ||
| Q4 24 | $1.41 | $1.35 | ||
| Q3 24 | $1.30 | $-0.17 | ||
| Q2 24 | $1.19 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.3B | $705.9M |
| Total Assets | — | $1.6B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | $270.0M | ||
| Q4 25 | $389.9M | $425.8M | ||
| Q3 25 | $314.3M | $351.4M | ||
| Q2 25 | $301.5M | $411.6M | ||
| Q1 25 | $259.0M | $371.7M | ||
| Q4 24 | $370.3M | $740.0M | ||
| Q3 24 | $323.0M | $703.0M | ||
| Q2 24 | $564.8M | $665.1M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | $705.9M | ||
| Q4 25 | $1.3B | $787.4M | ||
| Q3 25 | $1.2B | $596.8M | ||
| Q2 25 | $1.2B | $624.5M | ||
| Q1 25 | $1.2B | $611.3M | ||
| Q4 24 | $1.3B | $585.5M | ||
| Q3 24 | $1.2B | $473.0M | ||
| Q2 24 | $1.2B | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $3.5B | $1.6B | ||
| Q3 25 | $3.4B | $1.3B | ||
| Q2 25 | $3.4B | $1.3B | ||
| Q1 25 | $3.3B | $1.3B | ||
| Q4 24 | $3.3B | $1.8B | ||
| Q3 24 | $3.3B | $1.6B | ||
| Q2 24 | $3.5B | $1.5B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | — | — |
| Free Cash FlowOCF − Capex | $-63.1M | $206.5M |
| FCF MarginFCF / Revenue | -9.1% | 48.0% |
| Capex IntensityCapex / Revenue | 6.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $158.4M | ||
| Q3 25 | $105.0M | $56.3M | ||
| Q2 25 | $82.0M | $86.3M | ||
| Q1 25 | $7.4M | $204.2M | ||
| Q4 24 | $174.7M | $95.2M | ||
| Q3 24 | $91.7M | $30.5M | ||
| Q2 24 | $83.0M | $40.1M |
| Q1 26 | $-63.1M | $206.5M | ||
| Q4 25 | $121.3M | $152.4M | ||
| Q3 25 | $65.3M | $51.8M | ||
| Q2 25 | $56.9M | $84.1M | ||
| Q1 25 | $-24.8M | $202.3M | ||
| Q4 24 | $116.4M | $92.4M | ||
| Q3 24 | $67.2M | $27.4M | ||
| Q2 24 | $61.0M | $38.8M |
| Q1 26 | -9.1% | 48.0% | ||
| Q4 25 | 16.8% | 30.2% | ||
| Q3 25 | 9.4% | 13.6% | ||
| Q2 25 | 8.5% | 21.9% | ||
| Q1 25 | -4.0% | 42.5% | ||
| Q4 24 | 17.5% | 18.8% | ||
| Q3 24 | 10.3% | 8.4% | ||
| Q2 24 | 10.1% | 11.1% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.2% | ||
| Q3 25 | 5.7% | 1.2% | ||
| Q2 25 | 3.7% | 0.6% | ||
| Q1 25 | 5.2% | 0.4% | ||
| Q4 24 | 8.8% | 0.6% | ||
| Q3 24 | 3.7% | 0.9% | ||
| Q2 24 | 3.6% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 0.68× | ||
| Q3 25 | 1.85× | 1.30× | ||
| Q2 25 | 1.34× | 2.87× | ||
| Q1 25 | 0.14× | 2.39× | ||
| Q4 24 | 2.99× | 0.80× | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
