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Side-by-side financial comparison of BELDEN INC. (BDC) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
BELDEN INC. is the larger business by last-quarter revenue ($696.4M vs $677.3M, roughly 1.0× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 14.7% vs 7.3%, a 7.4% gap on every dollar of revenue. On growth, WATTS WATER TECHNOLOGIES INC posted the faster year-over-year revenue change (21.4% vs 11.4%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($6.6M vs $-63.1M). Over the past eight quarters, BELDEN INC.'s revenue compounded faster (7.3% CAGR vs 6.5%).
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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
BDC vs WTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $677.3M |
| Net Profit | $51.0M | $99.6M |
| Gross Margin | 37.1% | 48.1% |
| Operating Margin | 11.2% | 19.6% |
| Net Margin | 7.3% | 14.7% |
| Revenue YoY | 11.4% | 21.4% |
| Net Profit YoY | -1.8% | 34.6% |
| EPS (diluted) | $1.30 | $2.97 |
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 | $677.3M | ||
| Q4 25 | $720.1M | $625.1M | ||
| Q3 25 | $698.2M | $611.7M | ||
| Q2 25 | $672.0M | $643.7M | ||
| Q1 25 | $624.9M | $558.0M | ||
| Q4 24 | $666.0M | $540.4M | ||
| Q3 24 | $654.9M | $543.6M | ||
| Q2 24 | $604.3M | $597.3M |
| Q1 26 | $51.0M | $99.6M | ||
| Q4 25 | $67.9M | $83.7M | ||
| Q3 25 | $56.7M | $82.2M | ||
| Q2 25 | $61.0M | $100.9M | ||
| Q1 25 | $51.9M | $74.0M | ||
| Q4 24 | $58.4M | $67.5M | ||
| Q3 24 | $53.7M | $69.1M | ||
| Q2 24 | $49.0M | $82.0M |
| Q1 26 | 37.1% | 48.1% | ||
| Q4 25 | 36.6% | 49.5% | ||
| Q3 25 | 37.7% | 48.8% | ||
| Q2 25 | 38.5% | 50.6% | ||
| Q1 25 | 39.3% | 48.8% | ||
| Q4 24 | 37.5% | 46.7% | ||
| Q3 24 | 37.3% | 47.3% | ||
| Q2 24 | 37.5% | 47.7% |
| Q1 26 | 11.2% | 19.6% | ||
| Q4 25 | 12.2% | 18.2% | ||
| Q3 25 | 10.9% | 18.2% | ||
| Q2 25 | 11.8% | 21.0% | ||
| Q1 25 | 11.6% | 15.7% | ||
| Q4 24 | 10.4% | 16.5% | ||
| Q3 24 | 11.5% | 17.1% | ||
| Q2 24 | 11.4% | 18.7% |
| Q1 26 | 7.3% | 14.7% | ||
| Q4 25 | 9.4% | 13.4% | ||
| Q3 25 | 8.1% | 13.4% | ||
| Q2 25 | 9.1% | 15.7% | ||
| Q1 25 | 8.3% | 13.3% | ||
| Q4 24 | 8.8% | 12.5% | ||
| Q3 24 | 8.2% | 12.7% | ||
| Q2 24 | 8.1% | 13.7% |
| Q1 26 | $1.30 | $2.97 | ||
| Q4 25 | $1.70 | $2.50 | ||
| Q3 25 | $1.41 | $2.45 | ||
| Q2 25 | $1.53 | $3.01 | ||
| Q1 25 | $1.27 | $2.21 | ||
| Q4 24 | $1.41 | $2.02 | ||
| Q3 24 | $1.30 | $2.06 | ||
| Q2 24 | $1.19 | $2.44 |
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 | $374.7M |
| Total DebtLower is stronger | $1.3B | $197.8M |
| Stockholders' EquityBook value | $1.3B | $2.1B |
| Total Assets | — | $2.9B |
| Debt / EquityLower = less leverage | 0.98× | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | $374.7M | ||
| Q4 25 | $389.9M | $405.5M | ||
| Q3 25 | $314.3M | $457.7M | ||
| Q2 25 | $301.5M | $369.3M | ||
| Q1 25 | $259.0M | $336.8M | ||
| Q4 24 | $370.3M | $386.9M | ||
| Q3 24 | $323.0M | $303.9M | ||
| Q2 24 | $564.8M | $279.4M |
| Q1 26 | $1.3B | $197.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | $2.1B | ||
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.2B | $2.0B | ||
| Q2 25 | $1.2B | $1.9B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.3B | $1.7B | ||
| Q3 24 | $1.2B | $1.7B | ||
| Q2 24 | $1.2B | $1.6B |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $3.5B | $2.9B | ||
| Q3 25 | $3.4B | $2.7B | ||
| Q2 25 | $3.4B | $2.6B | ||
| Q1 25 | $3.3B | $2.5B | ||
| Q4 24 | $3.3B | $2.4B | ||
| Q3 24 | $3.3B | $2.4B | ||
| Q2 24 | $3.5B | $2.4B |
| Q1 26 | 0.98× | 0.09× | ||
| 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 | — | $17.9M |
| Free Cash FlowOCF − Capex | $-63.1M | $6.6M |
| FCF MarginFCF / Revenue | -9.1% | 1.0% |
| Capex IntensityCapex / Revenue | 6.4% | — |
| Cash ConversionOCF / Net Profit | — | 0.18× |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $317.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $17.9M | ||
| Q4 25 | $160.4M | $154.7M | ||
| Q3 25 | $105.0M | $122.4M | ||
| Q2 25 | $82.0M | $69.7M | ||
| Q1 25 | $7.4M | $55.2M | ||
| Q4 24 | $174.7M | $139.5M | ||
| Q3 24 | $91.7M | $90.7M | ||
| Q2 24 | $83.0M | $85.3M |
| Q1 26 | $-63.1M | $6.6M | ||
| Q4 25 | $121.3M | $140.3M | ||
| Q3 25 | $65.3M | $110.9M | ||
| Q2 25 | $56.9M | $59.5M | ||
| Q1 25 | $-24.8M | $45.6M | ||
| Q4 24 | $116.4M | $127.5M | ||
| Q3 24 | $67.2M | $84.3M | ||
| Q2 24 | $61.0M | $78.5M |
| Q1 26 | -9.1% | 1.0% | ||
| Q4 25 | 16.8% | 22.4% | ||
| Q3 25 | 9.4% | 18.1% | ||
| Q2 25 | 8.5% | 9.2% | ||
| Q1 25 | -4.0% | 8.2% | ||
| Q4 24 | 17.5% | 23.6% | ||
| Q3 24 | 10.3% | 15.5% | ||
| Q2 24 | 10.1% | 13.1% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 2.3% | ||
| Q3 25 | 5.7% | 1.9% | ||
| Q2 25 | 3.7% | 1.6% | ||
| Q1 25 | 5.2% | 1.7% | ||
| Q4 24 | 8.8% | 2.2% | ||
| Q3 24 | 3.7% | 1.2% | ||
| Q2 24 | 3.6% | 1.1% |
| Q1 26 | — | 0.18× | ||
| Q4 25 | 2.36× | 1.85× | ||
| Q3 25 | 1.85× | 1.49× | ||
| Q2 25 | 1.34× | 0.69× | ||
| Q1 25 | 0.14× | 0.75× | ||
| Q4 24 | 2.99× | 2.07× | ||
| Q3 24 | 1.71× | 1.31× | ||
| Q2 24 | 1.69× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
WTS
| segment net | $517.8M | 76% |
| Other | $159.5M | 24% |
