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Side-by-side financial comparison of BELDEN INC. (BDC) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $376.9M, roughly 1.8× TRUPANION, INC.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 11.4%). TRUPANION, INC. produced more free cash flow last quarter ($25.3M vs $-63.1M). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% 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.
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
BDC vs TRUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $376.9M |
| Net Profit | $51.0M | — |
| Gross Margin | 37.1% | 17.3% |
| Operating Margin | 11.2% | 1.9% |
| Net Margin | 7.3% | — |
| Revenue YoY | 11.4% | 11.7% |
| Net Profit YoY | -1.8% | — |
| EPS (diluted) | $1.30 | $0.13 |
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 | $376.9M | ||
| Q3 25 | $698.2M | $366.9M | ||
| Q2 25 | $672.0M | $353.6M | ||
| Q1 25 | $624.9M | $342.0M | ||
| Q4 24 | $666.0M | $337.3M | ||
| Q3 24 | $654.9M | $327.5M | ||
| Q2 24 | $604.3M | $314.8M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | — | ||
| Q3 25 | $56.7M | — | ||
| Q2 25 | $61.0M | — | ||
| Q1 25 | $51.9M | — | ||
| Q4 24 | $58.4M | — | ||
| Q3 24 | $53.7M | — | ||
| Q2 24 | $49.0M | — |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 17.3% | ||
| Q3 25 | 37.7% | 16.4% | ||
| Q2 25 | 38.5% | 15.5% | ||
| Q1 25 | 39.3% | 14.9% | ||
| Q4 24 | 37.5% | 15.7% | ||
| Q3 24 | 37.3% | 15.1% | ||
| Q2 24 | 37.5% | 12.8% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 1.9% | ||
| Q3 25 | 10.9% | 1.6% | ||
| Q2 25 | 11.8% | 0.7% | ||
| Q1 25 | 11.6% | -0.4% | ||
| Q4 24 | 10.4% | 0.1% | ||
| Q3 24 | 11.5% | 0.5% | ||
| Q2 24 | 11.4% | -1.7% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | 9.1% | — | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 8.8% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 8.1% | — |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $0.13 | ||
| Q3 25 | $1.41 | $0.13 | ||
| Q2 25 | $1.53 | $0.22 | ||
| Q1 25 | $1.27 | $-0.03 | ||
| Q4 24 | $1.41 | $0.04 | ||
| Q3 24 | $1.30 | $0.03 | ||
| Q2 24 | $1.19 | $-0.14 |
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 | $370.7M |
| Total DebtLower is stronger | $1.3B | $101.8M |
| Stockholders' EquityBook value | $1.3B | $383.9M |
| Total Assets | — | $915.0M |
| Debt / EquityLower = less leverage | 0.98× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $370.7M | ||
| Q3 25 | $314.3M | $348.5M | ||
| Q2 25 | $301.5M | $319.6M | ||
| Q1 25 | $259.0M | $321.8M | ||
| Q4 24 | $370.3M | $307.4M | ||
| Q3 24 | $323.0M | $293.1M | ||
| Q2 24 | $564.8M | $277.2M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $383.9M | ||
| Q3 25 | $1.2B | $368.6M | ||
| Q2 25 | $1.2B | $355.5M | ||
| Q1 25 | $1.2B | $333.7M | ||
| Q4 24 | $1.3B | $323.3M | ||
| Q3 24 | $1.2B | $320.2M | ||
| Q2 24 | $1.2B | $305.8M |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $915.0M | ||
| Q3 25 | $3.4B | $880.2M | ||
| Q2 25 | $3.4B | $847.8M | ||
| Q1 25 | $3.3B | $837.2M | ||
| Q4 24 | $3.3B | $806.9M | ||
| Q3 24 | $3.3B | $816.1M | ||
| Q2 24 | $3.5B | $795.9M |
| Q1 26 | 0.98× | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.39× | ||
| 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 | — | $29.3M |
| Free Cash FlowOCF − Capex | $-63.1M | $25.3M |
| FCF MarginFCF / Revenue | -9.1% | 6.7% |
| Capex IntensityCapex / Revenue | 6.4% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $29.3M | ||
| Q3 25 | $105.0M | $29.2M | ||
| Q2 25 | $82.0M | $15.0M | ||
| Q1 25 | $7.4M | $16.0M | ||
| Q4 24 | $174.7M | $23.7M | ||
| Q3 24 | $91.7M | $15.3M | ||
| Q2 24 | $83.0M | $6.9M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $25.3M | ||
| Q3 25 | $65.3M | $23.9M | ||
| Q2 25 | $56.9M | $12.0M | ||
| Q1 25 | $-24.8M | $14.0M | ||
| Q4 24 | $116.4M | $21.8M | ||
| Q3 24 | $67.2M | $13.4M | ||
| Q2 24 | $61.0M | $4.0M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | 6.7% | ||
| Q3 25 | 9.4% | 6.5% | ||
| Q2 25 | 8.5% | 3.4% | ||
| Q1 25 | -4.0% | 4.1% | ||
| Q4 24 | 17.5% | 6.5% | ||
| Q3 24 | 10.3% | 4.1% | ||
| Q2 24 | 10.1% | 1.3% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 1.0% | ||
| Q3 25 | 5.7% | 1.4% | ||
| Q2 25 | 3.7% | 0.8% | ||
| Q1 25 | 5.2% | 0.6% | ||
| Q4 24 | 8.8% | 0.6% | ||
| Q3 24 | 3.7% | 0.6% | ||
| Q2 24 | 3.6% | 0.9% |
| 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.
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
