Forensic Analysis · Communications Equipment & Electronic Components · as of Nov 9, 2026

Bel Fuse Inc (BELFB)

A forensic read on Bel Fuse Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

5.1

Distress distance

Clean

Earnings quality

Forensic signals

15.7%

ROE

26.3%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Bel Fuse Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 5.1, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

11.5%

FY2025

Return on invested capital. Return on invested capital is 11.5% in the latest fiscal year, against 21.0% in FY2023, having run between 9.1% and 21.0% across FY2023–FY2025 with no direction held. After-tax operating profit was $78M in FY2023 and $87M in FY2025, with operating income at 13.8% of revenue in FY2023, 12.0% in FY2024 and 16.4% in FY2025. The capital base behind it grew +102% across FY2023–FY2025, from $372M to $752M, while the return fell 9.5 points, so the dollars added over that window earned less than the 21.0% the older base was already earning.

Key fundamentals

Latest Revenue$675.5M

Revenue Growth YoY+26.3%

Revenue CAGR (2yr)+2.7%

Net Margin9.1%

Free Cash Flow$68.6M

Return on Equity15.7%

Debt / Equity0.46x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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