Filing Flows › Belden (BDC) › Q3 2026 › vs Q3 2025
Belden (BDC) Q3 2026 vs Q3 2025 (year over year)
Belden's revenue rose $268M (+38%) from $698M in Q3 2025 to $966M in Q3 2026. The biggest changes: Wireless +$168M (—); Automation +$63.0M (+17%); Smart Buildings +$33.9M (+23%).
Belden, Q3 2026: revenue $966M (+38% year over year), operating margin 1.7%, net loss $11.4M, operating cash flow $130M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 8.5% | 9.4% | -0.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Automation | $444M | $381M | $63.0M | +17% |
| Smart Buildings | $184M | $150M | $33.9M | +23% |
| Broadband | $170M | $167M | $3.0M | +2% |
| Wireless | $168M | $0 | $168M | — |
| Revenue | $966M | $698M | $268M | +38% |
| Income tax benefit | $14.2M | −$7.6M | $21.7M | — |
| Net loss | $11.4M | −$56.7M | $68.0M | — |
| Costs & expenses | $991M | $698M | $293M | +42% |
| Operating costs | $949M | $622M | $327M | +53% |
| Interest & other, net | $42.3M | $12.0M | $30.3M | +251% |
| Cost of revenue | $627M | $435M | $192M | +44% |
| Research & development | $55.2M | $33.9M | $21.4M | +63% |
| SG&A | $212M | $139M | $72.5M | +52% |
| Other operating costs | $54.8M | $13.6M | $41.2M | +302% |
| Operating cash sources | $141M | $48.3M | $92.7M | +192% |
| Depreciation & amortization | $78.4M | $33.6M | $44.8M | +134% |
| Share-based compensation | $11.1M | $8.0M | $3.1M | +38% |
| Working capital & other | $51.5M | $6.7M | $44.8M | +664% |
| Net loss absorbed | $11.4M | −$56.7M | $68.0M | — |
| Operating cash flow | $130M | $105M | $24.6M | +23% |
| Free cash flow (OCF − capex) | $81.8M | $65.3M | $16.5M | +25% |
| Capital expenditures | $47.8M | $39.7M | $8.1M | +20% |
Questions
How much did Belden's revenue grow year over year in Q3 2026?
Belden's revenue rose $268M (+38%) from $698M in Q3 2025 to $966M in Q3 2026.
What drove Belden's revenue change in Q3 2026?
Wireless +$168M (—); Automation +$63.0M (+17%); Smart Buildings +$33.9M (+23%).