Bel Fuse Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	649.38	534.79	639.81	654.23	543.49	465.77
Revenue Growth (YoY)	23.70%	-16.41%	-2.20%	20.38%	16.69%	-5.41%
Cost of Revenue	398.13	332.43	423.96	470.78	409.11	350.94
Gross Profit	251.25	202.36	215.85	183.45	134.38	114.83
Selling, General & Admin	116.02	98.7	100.05	93.29	87.16	79.68
Research & Development	29.81	23.59	22.49	20.24	21.89	23.61
Operating Expenses	145.83	122.28	122.54	113.53	109.05	103.29
Operating Income	105.42	80.07	93.31	69.93	25.33	11.54
Interest Expense	-14.59	-4.08	-2.85	-3.38	-3.54	-4.75
Interest & Investment Income	1.79	4.75	1.7	0.18	-	-
Currency Exchange Gain (Loss)	11.15	-1.9	-1.4	0.3	0.06	-2.2
Other Non Operating Income (Expenses)	-1.31	0.32	1.35	-2.24	0.6	1.39
EBT Excluding Unusual Items	102.46	79.17	92.12	64.79	22.45	5.98
Merger & Restructuring Charges	-12.14	-16.36	-10.11	-7.32	-1.7	-0.6
Gain (Loss) on Sale of Investments	-0.9	-0.6	-0.8	-	-	-
Gain (Loss) on Sale of Assets	5.7	-	2.1	1.6	6.58	1.85
Asset Writedown	-0.4	-0.4	-	-	-	-
Other Unusual Items	-1.86	-	-	-	-	4.9
Pretax Income	92.87	61.81	83.3	59.06	27.33	12.14
Income Tax Expense	18.77	12.62	9.47	6.37	2.51	-0.66
Earnings From Continuing Operations	74.1	49.19	73.83	52.69	24.82	12.8
Minority Interest in Earnings	-8.92	-8.23	-	-	-	-
Net Income	65.19	40.96	73.83	52.69	24.82	12.8
Net Income to Common	65.19	40.96	73.83	52.69	24.82	12.8
Net Income Growth	18.96%	-44.52%	40.13%	112.28%	93.99%	-
Shares Outstanding (Basic)	13	13	13	13	12	12
Shares Outstanding (Diluted)	13	13	13	13	12	12
Shares Change (YoY)	-0.47%	-1.26%	1.91%	1.08%	0.59%	0.37%
EPS (Basic)	5.17	3.25	5.78	4.20	2.00	1.04
EPS (Diluted)	5.17	3.25	5.78	4.20	2.00	1.04
EPS Growth	19.52%	-43.81%	37.51%	110.01%	92.85%	-
Free Cash Flow	44.61	59.96	96.22	31.43	-4.77	40.63
Free Cash Flow Per Share	3.54	4.75	7.53	2.51	-0.38	3.29
Dividend Per Share	0.240	0.240	0.240	0.240	0.240	0.240
Gross Margin	38.69%	37.84%	33.74%	28.04%	24.73%	24.65%
Operating Margin	16.23%	14.97%	14.59%	10.69%	4.66%	2.48%
Profit Margin	10.04%	7.66%	11.54%	8.05%	4.57%	2.75%
Free Cash Flow Margin	6.87%	11.21%	15.04%	4.80%	-0.88%	8.72%
EBITDA	131.06	96.53	106.63	84.79	42.19	27.96
EBITDA Margin	20.18%	18.05%	16.66%	12.96%	7.76%	6.00%
D&A For EBITDA	25.63	16.46	13.31	14.86	16.86	16.42
EBIT	105.42	80.07	93.31	69.93	25.33	11.54
EBIT Margin	16.23%	14.97%	14.59%	10.69%	4.66%	2.48%
Effective Tax Rate	20.21%	20.41%	11.37%	10.79%	9.17%	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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