BENCHMARK ELECTRONICS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BENCHMARK ELECTRONICS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,322	2,467	2,635	2,347	2,130	2,345	3,012	2,968	2,761	2,749
Cost of revenue	2,108	2,229	2,361	2,083	1,878	2,049	2,631	2,568	2,386	2,389
Gross profit	215	226	206	186	175	206	255	271	270	270
Selling, general and administrative	113	130	128	127	122	137	150	147	149	160
Operating income	76.9	76.8	58.5	28.5	25.1	53.1	90.1	110	109	76
Interest expense	9.3	9.41	10.5	6.66	8.36	8.47	12.9	31.9	26.9	20.2
Interest income	2.14	5.37	6.85	3.83	1.2	0.54	1.73	6.26	10.2	9.55
Other non-operating income	-0.28	-1.79	0.63	1.56	-0.67	0.28	5.44	-2.83	-8.8	-3.91
Pre-tax income	69.4	71	55.5	27.3	17.3	45.4	84.3	81.2	83.9	61.5
Income tax	5.48	103	32.7	3.84	3.24	9.64	16.1	12.3	22.8	36.7
Net income	63.9	-31.9	22.8	23.4	14.1	35.8	68.2	68.9	61.1	24.9
EBITDA	132	125	110	77	73.9	97.2	134	155	156	124
EPS, basic	1.39	-0.69	0.53	0.65	0.41	1.07	2.08	1.94	1.70	0.69
EPS, diluted	1.37	-0.69	0.53	0.64	0.41	1.06	2.05	1.92	1.66	0.68
Shares, basic (weighted)	46	46.3	43.2	35.7	34.1	33.2	32.8	35.6	36	35.9
Shares, diluted (weighted)	46.5	46.3	43.5	36.1	34.3	33.7	33.3	36	36.8	36.3
Dividend per share				0.16

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	681	743	458	348	391	272	207	277	315	322
Receivables	441	437	468	324	309	356	492	449	412	391
Inventory	381	269	310	315	327	523	728	684	554	483
Other current assets	28.1	36	27	29.6	26.5	41.7	41.4	44.4	44.7	69.2
Total current assets	1,532	1,631	1,404	1,195	1,202	1,348	1,652	1,636	1,506	1,448
Property, plant and equipment	166	186	211	206	185	187	211	228	225	224
Lease right-of-use assets			0	76.9	80	99.2	93.1	131	118	103
Goodwill	192	192	192	192	192	192	192	192	192	192
Intangible assets	96.3	90.9	84.1	75.8	70	64.2	58.2	51	44.4	38.8
Other non-current assets	103	96.5	90.7	84.7	79.6	71.8	66.3	61.4	66.1	70.1
Total assets	2,009	2,109	1,900	1,760	1,744	1,904	2,227	2,275	2,134	2,072
Accounts payable	326	363	422	303	282	427	424	367	354	403
Accrued liabilities				102	100	103	110	115	122	105
Deferred revenue				37.5	84.1	118	198	205	144	116
Short-term debt	12.4	18.3	6.79	8.83	9.16	0.99	4.28	4.28	6.74	3.75
Total current liabilities	412	478	537	459	481	654	749	714	649	636
Long-term debt	211	193	147	139	131	129	321	327	250	207
Lease liabilities			0	67.9	72.1	90.9	86.7	123	109	98.7
Other non-current liabilities	9.57	89.7	68.8	65.5	65.6	55.4	43.9	32.1	17.6	23.3
Total liabilities	623	770	768	745	755	930	1,212	1,202	1,030	972
Total debt	224	212	148	143	136	130	324	331	257	211
Paid-in capital	626	634	555	512	510	507	519	529	535	537
Retained earnings	748	708	584	516	492	480	520	561	587	568
Other comprehensive income	-14.2	-8.15	-11.1	-16.8	-16.7	-17.2	-16.2	-13.9	-21.2	-8.98
Shareholders' equity	1,365	1,339	1,132	1,015	990	974	1,026	1,079	1,105	1,100
Total equity	1,376	1,339	1,132	1,015	990	974	1,015	1,073	1,113	1,100
Total liabilities and equity	1,999	2,109	1,900	1,760	1,744	1,904	2,227	2,275	2,134	2,072
Shares outstanding	46	45.8	38.6	34.5	33.8	32.8	32.8	35.7	36	35.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	63.9	-31.9	22.8	23.4	14.1	35.8	68.2	68.9	61.1	24.9
Depreciation and amortization	55.1	48.7	51.8	48.4	48.8	44.2	44.3	45.4	46.1	47.6
Stock-based compensation	5.32	7.82	10.1	10.2	10.4	15.3	18.5	15.3	13.4	17.2
Deferred income tax	8.39	7.42	7.63	-2.37	-7.31	-6.88	-7.25	-13	-3.81	-5.74
Change in receivables	37.6	4.66	-34	135	13.6	-47	-136	42.1	34	25.7
Change in inventory	38.4	-24.6	-43.3	-5.24	-10.8	-198	-206	45.1	128	75.2
Cash from operations	273	146	76.7	93.1	120	-2.62	-177	174	189	124
Capital expenditures	-30.5	-50.8	-62.8	-32.6	-34.6	-38.8	-43.4	-73.5	-31.3	-35.6
Acquisitions		0	-2.73	0
Sales and maturities of investments	0.2	0.25	0.52	0.05	0	0	5.37
Cash from investing	-21.2	-56.1	-68.8	-34.9	-34.4	-41.9	-41.2	-77.1	-32.8	-32.7
Debt issued						150	828	750	600	891
Debt repaid						-156	-633	-744	-674	-936
Stock issued	18.8	11.2	3.63	1.59	0.96	0.35	0.72	0.13	0.48	0
Share buybacks	-41.9	-29.3	-212	-122	-25.2	-40.2	-9.39	0	-5.1	-26.8
Dividends paid	0	0	-21	-23.3	-23	-23.3	-23.2	-23.5	-23.9	-24.4
Cash from financing	-35.3	-31.4	-291	-153	-57.5	-74	159	-23.6	-109	-106
Exchange rate effect	-1.1	2.74	-1.32	0.42	3.51	-5.79	-4.91	2.21	-2.54	9.01
Net change in cash	215	61.1	-284	-94.1	32	-124	-64.3	75.8	44.8	-5.63
Free cash flow	243	95.1	13.9	60.6	85.9	-41.4	-221	101	158	88.4
Interest paid	8.31	8.7	7.87	8.35	9.05	8.21	11.6	30.6	28	19.4
Income taxes paid	7.87	6.45	48.9	16.9	18.1	20.6	28.5	37.7	46.7	66.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $82.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	10.0%	Gross profit / revenue.
Operating margin	3.3%	Operating income / revenue.
EBITDA margin	4.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.9%	Pre-tax income / revenue.
Net margin	1.8%	Net income / revenue.
FCF margin	4.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.1%	Cash from operations / revenue.
Effective tax rate	36.5%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.4%	Net income / average total assets.
Return on invested capital (ROIC)	6.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	5.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	1.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-3.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	0.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	9.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-30.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-5.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	24.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-20.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-2.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-59.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-28.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-59.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-30.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	10.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-34.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	0.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-44.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	0.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	2.9%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.99x	Current assets / current liabilities.
Quick ratio	0.96x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.40x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.16x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	8.2%	Total debt / total assets.
Liabilities / assets	49.6%	Total liabilities / total assets.
Net debt	-$133.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.93x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	6.03x	Operating income / interest expense.
Working capital	$789.7M	Current assets - current liabilities.
Goodwill and intangibles / assets	10.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$888.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.31x	Revenue / average total assets.
Fixed asset turnover	12.5x	Revenue / average property, plant and equipment.
Inventory turnover	4.65x	Cost of revenue / average inventory.
Days inventory	79 days	365 x average inventory / cost of revenue.
Receivables turnover	6.43x	Revenue / average receivables.
Days sales outstanding	57 days	365 x average receivables / revenue.
Days payables	80 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	56 days	Days inventory + days sales outstanding - days payables.
FCF conversion	237.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	28.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.46	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$79.78	Revenue / diluted weighted shares.
FCF per share	$3.47	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.86	Cash from operations / diluted weighted shares.
Book value per share	$31.08	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$24.73	Tangible book value / shares outstanding.
Cash per share	$8.77	(Cash + short-term investments) / shares outstanding.
Payout ratio	45.8%	Dividends paid / net income, when net income is positive.
Dividends / FCF	19.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	13.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.96B	Share price x shares outstanding.
Enterprise value	$2.83B	Market cap + total debt - cash - short-term investments.
P/E	55.8x	Market cap / net income. Only when net income is positive.
P/S	1.02x	Market cap / revenue.
P/B	2.66x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.34x	Market cap / tangible book value, when positive.
P/FCF	23.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	16.7x	Market cap / cash from operations, when positive.
EV/Sales	0.97x	Enterprise value / revenue.
EV/EBIT	29.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	19.7x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.3%	Free cash flow / market cap.
Earnings yield	1.8%	Net income / market cap (the inverse of P/E).
Dividend yield	0.8%	Dividends paid over the period / market cap.
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.

What was BENCHMARK ELECTRONICS INC's revenue in fiscal 2025?

BENCHMARK ELECTRONICS INC reported revenue of $2.75B for fiscal 2025, 0.4% lower than the year before.

Was BENCHMARK ELECTRONICS INC profitable in fiscal 2025?

Yes. Net income was $24.9M, a net margin of 0.9%.

How much free cash flow did BENCHMARK ELECTRONICS INC generate in fiscal 2025?

Cash from operations of $124.0M minus capital expenditures of $35.6M left free cash flow of $88.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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