# Benchmark Electronics, Inc. (BHE)

> Source: Nexqual · https://nexqual.com/BHE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Benchmark Electronics, Inc. (BHE), nexqual.com/BHE" · informational, not investment advice.

**Price:** USD 66.3 (-6.95% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 71.25 · day 65.56–69.49 · 52w 41.69–100.41 · market cap $2.38B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.90B, net income $53.1M (1.8% margin), free cash flow $126M (SEC filings).
- Valuation: P/E 44.8x (avg 34.7x at the last 3 fiscal year-ends), EV/EBITDA 15.6x, net cash $134M.
- 1 of 80 tracked superinvestors hold BHE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.50 on a 1–5 scale) (2 analysts), mean target USD 86 (range 76–92).
- Total return with dividends: 1Y +57.2% vs S&P 500 +14.9%; 5Y +189.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.79, revenue estimate $775M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.34B | $3.01B | $2.97B | $2.76B | $2.75B | $2.90B |
| Gross profit | $206M | $255M | $271M | $270M | $270M | — |
| Operating income | $53.1M | $90.1M | $110M | $109M | $76.0M | $95.9M |
| Net income | $35.8M | $68.2M | $68.9M | $61.1M | $24.9M | $53.1M |
| EPS (diluted) | $0.99 | $1.91 | $1.92 | $1.66 | $0.68 | — |
| Free cash flow | -$41.4M | -$221M | $101M | $158M | $88.4M | $126M |
| Gross margin | 8.8% | 8.5% | 9.1% | 9.8% | 9.8% | — |
| Operating margin | 2.3% | 3.0% | 3.7% | 4.0% | 2.8% | 3.3% |
| Net margin | 1.5% | 2.3% | 2.3% | 2.2% | 0.9% | 1.8% |
| Revenue growth | +10.1% | +28.4% | -1.5% | -7.0% | -0.4% | — |
| Cash + short-term investments | $272M | $207M | $277M | $315M | $322M | — |
| Total debt | $130M | $324M | $331M | $257M | $211M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 44.8x · P/S 0.8x · EV/EBITDA 15.6x · EV/Sales 0.8x · P/FCF 18.9x · P/B 2.1x · FCF yield 5.30% · Earnings yield 2.23% · Dividend yield (paid, TTM) 1.02% · Buyback yield (TTM) 0.70% · Net cash $134M · EV $2.25B
P/E at fiscal year-ends: Dec 2025 62.5x, Dec 2024 27.3x, Dec 2023 14.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold BHE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.06% | $34.6M | Added +18.3% |

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 2 analysts; mean target USD 86 (low 76, high 92).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-30 | Needham | Target raised | Buy | $80 → $90 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +57.2% | +189.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +57.4% | +23.6% |
| Volatility (annualized) | 45.2% | 34.0% |
| Max drawdown | -32.7% (Jun 2026→Oct 2026) | -36.5% (Nov 2024→Mar 2025) |

## Peers (Electronic Components)
ROG (Rogers Corporation) USD 128.89 -8.27% · KN (Knowles Corporation) USD 33.38 -4.41% · OUST (Ouster, Inc.) USD 27.98 -7.69% · OSIS (OSI Systems, Inc.) USD 200.49 +1.81% · BELFB (Bel Fuse Inc.) USD 199.81 -9.40% · OLED (Universal Display Corporation) USD 87.45 +4.29%

## More
Full page: https://nexqual.com/BHE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name BHE in their own reports (relationship from BHE's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Hyperfine, Inc. (HYPR) | 10-K 2026-03-18 | "We rely on a single contract manufacturer, Benchmark Electronics, Inc. ("Benchmark"), to test, assemble and supply our finished products." |
| partner | Owlet, Inc. (OWLT) | 10-K 2026-03-09 | "Manufacturing Services Agreement with Benchmark Electronics" |
| customer | Ouster, Inc. (OUST) | 10-K 2026-03-02 | "Our main manufacturing partners are Benchmark Electronics, Inc. ("Benchmark") and Fabrinet." |
| customer | Butterfly Network, Inc. (BFLY) | 10-K 2026-02-27 | "Manufacture and Supply Agreement with Benchmark Electronics, Inc." |
| customer | Iridium Communications Inc. (IRDM) | 10-K 2026-02-12 | "We contract with several strategic technical suppliers to develop our new products and services, such as Cambridge Consulting Ltd. (now part of Capgemini SE) and Benchmark Electronics Inc. We also uti…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.79 | $0.72 | +10.2% | $775.0M | 3 |
| Next quarter (ends 2026-12-31) | $0.83 | $0.76 | +8.8% | $795.0M | 3 |
| Current fiscal year (ends 2026-12-31) | $2.94 | $2.75 | +7.0% | $3.00B | 3 |
| Next fiscal year (ends 2027-12-31) | $3.31 | $3.10 | +6.6% | $3.22B | 3 |