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Side-by-side financial comparison of BELDEN INC. (BDC) and TIC Solutions, Inc. (TIC). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $508.3M, roughly 1.4× TIC Solutions, Inc.). BELDEN INC. runs the higher net margin — 7.3% vs -9.3%, a 16.6% gap on every dollar of revenue. TIC Solutions, Inc. produced more free cash flow last quarter ($37.1M vs $-63.1M).
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.
BDC vs TIC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $508.3M |
| Net Profit | $51.0M | $-47.2M |
| Gross Margin | 37.1% | 35.2% |
| Operating Margin | 11.2% | -3.8% |
| Net Margin | 7.3% | -9.3% |
| Revenue YoY | 11.4% | — |
| Net Profit YoY | -1.8% | — |
| EPS (diluted) | $1.30 | — |
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 | $508.3M | ||
| Q3 25 | $698.2M | $473.9M | ||
| Q2 25 | $672.0M | $313.9M | ||
| Q1 25 | $624.9M | $234.2M | ||
| Q4 24 | $666.0M | — | ||
| Q3 24 | $654.9M | — | ||
| Q2 24 | $604.3M | — |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $-47.2M | ||
| Q3 25 | $56.7M | $-13.9M | ||
| Q2 25 | $61.0M | $-233.0K | ||
| Q1 25 | $51.9M | $-25.8M | ||
| Q4 24 | $58.4M | — | ||
| Q3 24 | $53.7M | — | ||
| Q2 24 | $49.0M | — |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 35.2% | ||
| Q3 25 | 37.7% | 32.2% | ||
| Q2 25 | 38.5% | 23.6% | ||
| Q1 25 | 39.3% | 18.6% | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | -3.8% | ||
| Q3 25 | 10.9% | -1.4% | ||
| Q2 25 | 11.8% | 5.8% | ||
| Q1 25 | 11.6% | -4.0% | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 11.5% | — | ||
| Q2 24 | 11.4% | — |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | -9.3% | ||
| Q3 25 | 8.1% | -2.9% | ||
| Q2 25 | 9.1% | -0.1% | ||
| Q1 25 | 8.3% | -11.0% | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 8.1% | — |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | — | ||
| Q3 25 | $1.41 | $-0.08 | ||
| Q2 25 | $1.53 | — | ||
| Q1 25 | $1.27 | — | ||
| Q4 24 | $1.41 | — | ||
| Q3 24 | $1.30 | — | ||
| Q2 24 | $1.19 | — |
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 | $439.5M |
| Total DebtLower is stronger | $1.3B | $1.6B |
| Stockholders' EquityBook value | $1.3B | $2.2B |
| Total Assets | — | $4.4B |
| Debt / EquityLower = less leverage | 0.98× | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $439.5M | ||
| Q3 25 | $314.3M | $164.4M | ||
| Q2 25 | $301.5M | $130.1M | ||
| Q1 25 | $259.0M | $155.7M | ||
| Q4 24 | $370.3M | — | ||
| Q3 24 | $323.0M | — | ||
| Q2 24 | $564.8M | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $751.3M | ||
| Q1 25 | — | $752.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $2.2B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $4.4B | ||
| Q3 25 | $3.4B | $4.2B | ||
| Q2 25 | $3.4B | $2.2B | ||
| Q1 25 | $3.3B | $2.2B | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.3B | — | ||
| Q2 24 | $3.5B | — |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.67× | ||
| 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 | — | $49.7M |
| Free Cash FlowOCF − Capex | $-63.1M | $37.1M |
| FCF MarginFCF / Revenue | -9.1% | 7.3% |
| Capex IntensityCapex / Revenue | 6.4% | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $61.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $49.7M | ||
| Q3 25 | $105.0M | $19.0M | ||
| Q2 25 | $82.0M | $-6.5M | ||
| Q1 25 | $7.4M | $32.8M | ||
| Q4 24 | $174.7M | — | ||
| Q3 24 | $91.7M | — | ||
| Q2 24 | $83.0M | — |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $37.1M | ||
| Q3 25 | $65.3M | $10.3M | ||
| Q2 25 | $56.9M | $-14.5M | ||
| Q1 25 | $-24.8M | $28.3M | ||
| Q4 24 | $116.4M | — | ||
| Q3 24 | $67.2M | — | ||
| Q2 24 | $61.0M | — |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 7.3% | ||
| Q3 25 | 9.4% | 2.2% | ||
| Q2 25 | 8.5% | -4.6% | ||
| Q1 25 | -4.0% | 12.1% | ||
| Q4 24 | 17.5% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 10.1% | — |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 2.5% | ||
| Q3 25 | 5.7% | 1.8% | ||
| Q2 25 | 3.7% | 2.6% | ||
| Q1 25 | 5.2% | 1.9% | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 3.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.99× | — | ||
| Q3 24 | 1.71× | — | ||
| Q2 24 | 1.69× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
