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

Benchmark Electronics Inc (BHE)

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

B · Sound & dependable

Forensic grade

Safe

Financial health

4.9

Distress distance

Clean

Earnings quality

Forensic signals

2.3%

ROE

0.1%

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.

Benchmark Electronics Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 4.9, 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

4.3%

FY2025

Return on invested capital. Return on invested capital is 4.3% in the latest fiscal year and slipping across FY2023–FY2025 from 7.2%. After-tax operating profit was $93M in FY2023 and $49M in FY2025, with operating income at 3.9% of revenue in FY2023, 4.1% in FY2024 and 2.9% in FY2025. The capital base behind it came down -11% across FY2023–FY2025, from $1.3B to $1.1B, so this return is struck on a smaller base than it started on. FY2025's operating profit carried a $11M asset write-down and a $7M restructuring charge that alone took about 1.1 points off that year's return, so about 1.1 of the 2.9-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. A non-cash write-down lowers the reported return in the year it lands.

Key fundamentals

Latest Revenue$2.66B

Revenue Growth YoY+0.1%

Revenue CAGR (2yr)-3.2%

Net Margin0.9%

Free Cash Flow$85.4M

Return on Equity2.3%

Debt / Equity0.19x

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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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