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Asia Pacific Wire & Cable vs Belden: revenue, profit, margins and growth compared

Asia Pacific Wire & Cable brought in $472.7M of revenue in fiscal 2024, Belden $2.7B in fiscal 2025. Revenue changed by +11.0% at Asia Pacific Wire & Cable and +10.3% at Belden on the year before, so Asia Pacific Wire & Cable grew faster. Asia Pacific Wire & Cable kept 0.7% of its revenue as net profit, Belden 8.7%. Free cash flow was $20.1M at Asia Pacific Wire & Cable and $218.7M at Belden.

Side by side, latest fiscal year

APWCBDC
Fiscal year endedFY2024 (December 31, 2024)FY2025 (December 31, 2025)
Revenue$472.7M$2.7B
Revenue growth+11.0%+10.3%
Net income$3.5M$237.5M
Net margin0.7%8.7%
Free cash flow$20.1M$218.7M
Free cash flow margin4.2%8.1%
Earnings per share (diluted)$0.17$5.91
Cash$34M$389.9M
Debt$29M$1.3B
Price to earningsn/a19.0
Market value$55.3M$4.4B
Dividend yieldn/a0.18%
Rank by revenue in sector#326 of 451 · Industrials#192 of 451 · Industrials

Over the years

Revenue
APWC FY2017: $425.2MAPWC FY2018: $425.9MAPWC FY2019: $338.2MAPWC FY2020: $313.6MAPWC FY2021: $476.7MAPWC FY2022: $433.9MAPWC FY2023: $425.8MAPWC FY2024: $472.7MBDC FY2018: $2.6BBDC FY2019: $2.1BBDC FY2020: $1.8BBDC FY2021: $2.3BBDC FY2022: $2.6BBDC FY2023: $2.5BBDC FY2024: $2.5BBDC FY2025: $2.7BFY17FY18FY19FY20FY21FY22FY23FY24FY25
APWC $472.7MBDC $2.7B
Net income
APWC FY2017: $8.7MAPWC FY2018: $2.9MAPWC FY2019: -$1.6MAPWC FY2020: -$552KAPWC FY2021: -$2.6MAPWC FY2022: $3.9MAPWC FY2023: $3.9MAPWC FY2024: $3.5MBDC FY2018: $160.9MBDC FY2019: -$377MBDC FY2020: -$55.2MBDC FY2021: $63.9MBDC FY2022: $254.7MBDC FY2023: $242.8MBDC FY2024: $198.4MBDC FY2025: $237.5MFY17FY18FY19FY20FY21FY22FY23FY24FY25
APWC $3.5MBDC $237.5M
Net margin
APWC FY2017: 2.1%APWC FY2018: 0.7%APWC FY2019: -0.5%APWC FY2020: -0.2%APWC FY2021: -0.6%APWC FY2022: 0.9%APWC FY2023: 0.9%APWC FY2024: 0.7%BDC FY2018: 6.2%BDC FY2019: -17.7%BDC FY2020: -3.1%BDC FY2021: 2.8%BDC FY2022: 9.8%BDC FY2023: 9.7%BDC FY2024: 8.1%BDC FY2025: 8.7%FY17FY18FY19FY20FY21FY22FY23FY24FY25
APWC 0.7%BDC 8.7%
Revenue growth
APWC FY2018: +0.2%APWC FY2019: -20.6%APWC FY2020: -7.3%APWC FY2021: +52.0%APWC FY2022: -9.0%APWC FY2023: -1.9%APWC FY2024: +11.0%BDC FY2019: -17.6%BDC FY2020: -17.8%BDC FY2021: +31.3%BDC FY2022: +13.3%BDC FY2023: -3.6%BDC FY2024: -2.0%BDC FY2025: +10.3%FY18FY19FY20FY21FY22FY23FY24FY25
APWC +11.0%BDC +10.3%
Free cash flow
APWC FY2017: -$21.3MAPWC FY2018: $36.2MAPWC FY2019: $9.7MAPWC FY2020: $1.8MAPWC FY2021: -$50.2MAPWC FY2022: $2.8MAPWC FY2023: -$10.3MAPWC FY2024: $20.1MBDC FY2018: $191.4MBDC FY2019: $166.9MBDC FY2020: $83.1MBDC FY2021: $181.1MBDC FY2022: $176.2MBDC FY2023: $202.9MBDC FY2024: $223MBDC FY2025: $218.7MFY17FY18FY19FY20FY21FY22FY23FY24FY25
APWC $20.1MBDC $218.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Asia Pacific Wire & Cable and Belden

Which is bigger by revenue, Asia Pacific Wire & Cable or Belden?

Belden is bigger by revenue: $2.7B in fiscal 2025, against $472.7M for Asia Pacific Wire & Cable in fiscal 2024.

Which keeps more of its revenue as profit, Asia Pacific Wire & Cable or Belden?

Asia Pacific Wire & Cable had a net margin of 0.7% in fiscal 2024; Belden had 8.7% in fiscal 2025.

Which grew revenue faster, Asia Pacific Wire & Cable or Belden?

In their latest fiscal years revenue changed by +11.0% at Asia Pacific Wire & Cable and +10.3% at Belden.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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