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Side-by-side financial comparison of BELDEN INC. (BDC) and Spectrum Brands Holdings, Inc. (SPB). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $677.0M, roughly 1.0× Spectrum Brands Holdings, Inc.). BELDEN INC. runs the higher net margin — 7.3% vs 4.2%, a 3.1% gap on every dollar of revenue. On growth, BELDEN INC. posted the faster year-over-year revenue change (11.4% vs -3.3%). Spectrum Brands Holdings, Inc. produced more free cash flow last quarter ($59.3M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs -2.9%).
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.
Spectrum Brands Holdings, Inc. is an American multinational consumer products conglomerate headquartered in Middleton, Wisconsin. It was established in 2005 as the successor to Rayovac Corporation.
BDC vs SPB — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $677.0M |
| Net Profit | $51.0M | $28.4M |
| Gross Margin | 37.1% | 35.7% |
| Operating Margin | 11.2% | 4.0% |
| Net Margin | 7.3% | 4.2% |
| Revenue YoY | 11.4% | -3.3% |
| Net Profit YoY | -1.8% | 20.9% |
| EPS (diluted) | $1.30 | $1.21 |
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 | $677.0M | ||
| Q3 25 | $698.2M | $733.5M | ||
| Q2 25 | $672.0M | $699.6M | ||
| Q1 25 | $624.9M | $675.7M | ||
| Q4 24 | $666.0M | $700.2M | ||
| Q3 24 | $654.9M | $773.8M | ||
| Q2 24 | $604.3M | $779.4M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $28.4M | ||
| Q3 25 | $56.7M | $55.6M | ||
| Q2 25 | $61.0M | $19.9M | ||
| Q1 25 | $51.9M | $900.0K | ||
| Q4 24 | $58.4M | $23.5M | ||
| Q3 24 | $53.7M | $28.5M | ||
| Q2 24 | $49.0M | $6.1M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 35.7% | ||
| Q3 25 | 37.7% | 35.0% | ||
| Q2 25 | 38.5% | 37.8% | ||
| Q1 25 | 39.3% | 37.5% | ||
| Q4 24 | 37.5% | 36.8% | ||
| Q3 24 | 37.3% | 37.2% | ||
| Q2 24 | 37.5% | 38.9% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 4.0% | ||
| Q3 25 | 10.9% | 4.0% | ||
| Q2 25 | 11.8% | 4.5% | ||
| Q1 25 | 11.6% | 2.9% | ||
| Q4 24 | 10.4% | 6.4% | ||
| Q3 24 | 11.5% | 2.8% | ||
| Q2 24 | 11.4% | 6.1% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | 4.2% | ||
| Q3 25 | 8.1% | 7.6% | ||
| Q2 25 | 9.1% | 2.8% | ||
| Q1 25 | 8.3% | 0.1% | ||
| Q4 24 | 8.8% | 3.4% | ||
| Q3 24 | 8.2% | 3.7% | ||
| Q2 24 | 8.1% | 0.8% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $1.21 | ||
| Q3 25 | $1.41 | $2.19 | ||
| Q2 25 | $1.53 | $0.80 | ||
| Q1 25 | $1.27 | $0.03 | ||
| Q4 24 | $1.41 | $0.84 | ||
| Q3 24 | $1.30 | $1.03 | ||
| Q2 24 | $1.19 | $0.21 |
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 | $126.6M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.3B | $1.9B |
| Total Assets | — | $3.4B |
| Debt / EquityLower = less leverage | 0.98× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $126.6M | ||
| Q3 25 | $314.3M | $123.6M | ||
| Q2 25 | $301.5M | $122.0M | ||
| Q1 25 | $259.0M | $96.0M | ||
| Q4 24 | $370.3M | $179.9M | ||
| Q3 24 | $323.0M | $368.9M | ||
| Q2 24 | $564.8M | $306.8M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $496.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $496.1M | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.9B | ||
| Q3 25 | $1.2B | $1.9B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.2B | $1.9B | ||
| Q4 24 | $1.3B | $2.0B | ||
| Q3 24 | $1.2B | $2.1B | ||
| Q2 24 | $1.2B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $3.4B | ||
| Q3 25 | $3.4B | $3.4B | ||
| Q2 25 | $3.4B | $3.5B | ||
| Q1 25 | $3.3B | $3.5B | ||
| Q4 24 | $3.3B | $3.6B | ||
| Q3 24 | $3.3B | $3.8B | ||
| Q2 24 | $3.5B | $3.8B |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.23× | ||
| 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 | — | $67.4M |
| Free Cash FlowOCF − Capex | $-63.1M | $59.3M |
| FCF MarginFCF / Revenue | -9.1% | 8.8% |
| Capex IntensityCapex / Revenue | 6.4% | 1.2% |
| Cash ConversionOCF / Net Profit | — | 2.37× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $302.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $67.4M | ||
| Q3 25 | $105.0M | $171.1M | ||
| Q2 25 | $82.0M | $81.8M | ||
| Q1 25 | $7.4M | $23.1M | ||
| Q4 24 | $174.7M | $-72.4M | ||
| Q3 24 | $91.7M | $80.7M | ||
| Q2 24 | $83.0M | $82.7M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $59.3M | ||
| Q3 25 | $65.3M | $157.9M | ||
| Q2 25 | $56.9M | $71.8M | ||
| Q1 25 | $-24.8M | $13.9M | ||
| Q4 24 | $116.4M | $-78.3M | ||
| Q3 24 | $67.2M | $67.7M | ||
| Q2 24 | $61.0M | $72.6M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 8.8% | ||
| Q3 25 | 9.4% | 21.5% | ||
| Q2 25 | 8.5% | 10.3% | ||
| Q1 25 | -4.0% | 2.1% | ||
| Q4 24 | 17.5% | -11.2% | ||
| Q3 24 | 10.3% | 8.7% | ||
| Q2 24 | 10.1% | 9.3% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.2% | ||
| Q3 25 | 5.7% | 1.8% | ||
| Q2 25 | 3.7% | 1.4% | ||
| Q1 25 | 5.2% | 1.4% | ||
| Q4 24 | 8.8% | 0.8% | ||
| Q3 24 | 3.7% | 1.7% | ||
| Q2 24 | 3.6% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | 2.37× | ||
| Q3 25 | 1.85× | 3.08× | ||
| Q2 25 | 1.34× | 4.11× | ||
| Q1 25 | 0.14× | 25.67× | ||
| Q4 24 | 2.99× | -3.08× | ||
| Q3 24 | 1.71× | 2.83× | ||
| Q2 24 | 1.69× | 13.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
SPB
| HPC Segment | $321.5M | 47% |
| Global Pet Supplies | $168.7M | 25% |
| Home And Personal Care | $109.8M | 16% |
| HG Segment | $73.9M | 11% |
