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Side-by-side financial comparison of BELDEN INC. (BDC) and WERNER ENTERPRISES INC (WERN). Click either name above to swap in a different company.
WERNER ENTERPRISES INC is the larger business by last-quarter revenue ($808.6M vs $720.1M, roughly 1.1× BELDEN INC.). BELDEN INC. runs the higher net margin — 9.4% vs -0.5%, a 10.0% gap on every dollar of revenue. On growth, WERNER ENTERPRISES INC posted the faster year-over-year revenue change (13.6% vs 8.1%). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (15.9% CAGR vs 4.3%).
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.
Werner Enterprises, Inc. is an American transportation and logistics company, serving the United States, Mexico and Canada. Werner Enterprises stated that it had 2023 revenues of $3.28 billion and over 14,000 employees and contractors.
BDC vs WERN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $720.1M | $808.6M |
| Net Profit | $67.9M | $-4.3M |
| Gross Margin | 36.6% | — |
| Operating Margin | 12.2% | — |
| Net Margin | 9.4% | -0.5% |
| Revenue YoY | 8.1% | 13.6% |
| Net Profit YoY | 16.3% | 57.8% |
| EPS (diluted) | $1.70 | $-0.07 |
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 | — | $808.6M | ||
| Q4 25 | $720.1M | $719.9M | ||
| Q3 25 | $698.2M | $752.2M | ||
| Q2 25 | $672.0M | $734.1M | ||
| Q1 25 | $624.9M | $693.4M | ||
| Q4 24 | $666.0M | $736.6M | ||
| Q3 24 | $654.9M | $726.3M | ||
| Q2 24 | $604.3M | $742.7M |
| Q1 26 | — | $-4.3M | ||
| Q4 25 | $67.9M | $-27.8M | ||
| Q3 25 | $56.7M | $-20.6M | ||
| Q2 25 | $61.0M | $44.1M | ||
| Q1 25 | $51.9M | $-10.1M | ||
| Q4 24 | $58.4M | $11.9M | ||
| Q3 24 | $53.7M | $6.6M | ||
| Q2 24 | $49.0M | $9.5M |
| Q1 26 | — | — | ||
| Q4 25 | 36.6% | — | ||
| Q3 25 | 37.7% | — | ||
| Q2 25 | 38.5% | — | ||
| Q1 25 | 39.3% | — | ||
| Q4 24 | 37.5% | — | ||
| Q3 24 | 37.3% | — | ||
| Q2 24 | 37.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 12.2% | -5.0% | ||
| Q3 25 | 10.9% | -1.7% | ||
| Q2 25 | 11.8% | 9.0% | ||
| Q1 25 | 11.6% | -0.8% | ||
| Q4 24 | 10.4% | 1.8% | ||
| Q3 24 | 11.5% | 2.4% | ||
| Q2 24 | 11.4% | 2.6% |
| Q1 26 | — | -0.5% | ||
| Q4 25 | 9.4% | -3.9% | ||
| Q3 25 | 8.1% | -2.7% | ||
| Q2 25 | 9.1% | 6.0% | ||
| Q1 25 | 8.3% | -1.5% | ||
| Q4 24 | 8.8% | 1.6% | ||
| Q3 24 | 8.2% | 0.9% | ||
| Q2 24 | 8.1% | 1.3% |
| Q1 26 | — | $-0.07 | ||
| Q4 25 | $1.70 | $-0.46 | ||
| Q3 25 | $1.41 | $-0.34 | ||
| Q2 25 | $1.53 | $0.72 | ||
| Q1 25 | $1.27 | $-0.16 | ||
| Q4 24 | $1.41 | $0.19 | ||
| Q3 24 | $1.30 | $0.11 | ||
| Q2 24 | $1.19 | $0.15 |
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 | $61.5M |
| Total DebtLower is stronger | — | $878.2M |
| Stockholders' EquityBook value | $1.3B | $1.4B |
| Total Assets | $3.5B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.5M | ||
| Q4 25 | $389.9M | $59.9M | ||
| Q3 25 | $314.3M | $51.0M | ||
| Q2 25 | $301.5M | $51.4M | ||
| Q1 25 | $259.0M | $52.0M | ||
| Q4 24 | $370.3M | $40.8M | ||
| Q3 24 | $323.0M | $54.7M | ||
| Q2 24 | $564.8M | $70.4M |
| Q1 26 | — | $878.2M | ||
| Q4 25 | — | $752.0M | ||
| Q3 25 | — | $725.0M | ||
| Q2 25 | — | $725.0M | ||
| Q1 25 | — | $640.0M | ||
| Q4 24 | — | $650.0M | ||
| Q3 24 | — | $690.0M | ||
| Q2 24 | — | $670.0M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $1.2B | $1.4B | ||
| Q2 24 | $1.2B | $1.5B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $3.5B | $2.9B | ||
| Q3 25 | $3.4B | $3.0B | ||
| Q2 25 | $3.4B | $2.9B | ||
| Q1 25 | $3.3B | $3.0B | ||
| Q4 24 | $3.3B | $3.1B | ||
| Q3 24 | $3.3B | $3.1B | ||
| Q2 24 | $3.5B | $3.1B |
| Q1 26 | — | 0.65× | ||
| Q4 25 | — | 0.55× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.46× |
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 | — |
| Free Cash FlowOCF − Capex | $121.3M | — |
| FCF MarginFCF / Revenue | 16.8% | — |
| Capex IntensityCapex / Revenue | 5.4% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.36× | — |
| TTM Free Cash FlowTrailing 4 quarters | $218.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $62.3M | ||
| Q3 25 | $105.0M | $44.1M | ||
| Q2 25 | $82.0M | $46.0M | ||
| Q1 25 | $7.4M | $29.4M | ||
| Q4 24 | $174.7M | $71.0M | ||
| Q3 24 | $91.7M | $61.0M | ||
| Q2 24 | $83.0M | $109.1M |
| Q1 26 | — | — | ||
| Q4 25 | $121.3M | $-23.5M | ||
| Q3 25 | $65.3M | $-8.6M | ||
| Q2 25 | $56.9M | $-42.3M | ||
| Q1 25 | $-24.8M | $5.9M | ||
| Q4 24 | $116.4M | $-9.8M | ||
| Q3 24 | $67.2M | $-73.4M | ||
| Q2 24 | $61.0M | $-31.2M |
| Q1 26 | — | — | ||
| Q4 25 | 16.8% | -3.3% | ||
| Q3 25 | 9.4% | -1.1% | ||
| Q2 25 | 8.5% | -5.8% | ||
| Q1 25 | -4.0% | 0.8% | ||
| Q4 24 | 17.5% | -1.3% | ||
| Q3 24 | 10.3% | -10.1% | ||
| Q2 24 | 10.1% | -4.2% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 5.4% | 11.9% | ||
| Q3 25 | 5.7% | 7.0% | ||
| Q2 25 | 3.7% | 12.0% | ||
| Q1 25 | 5.2% | 3.4% | ||
| Q4 24 | 8.8% | 11.0% | ||
| Q3 24 | 3.7% | 18.5% | ||
| Q2 24 | 3.6% | 18.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | — | ||
| Q2 25 | 1.34× | 1.04× | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 2.99× | 5.97× | ||
| Q3 24 | 1.71× | 9.30× | ||
| Q2 24 | 1.69× | 11.52× |
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% |
WERN
Segment breakdown not available.
