Filing Flows › BEL Fuse (BELFA) › Q4 2025
BEL Fuse (BELFA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
BEL Fuse (BELFA) reported revenue of $176M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and -2% from the quarter before. Operating margin was 14.7%, net earnings $6.4M (3.7% of revenue).
BEL Fuse, Q4 2025: revenue $176M (+17% year over year), operating margin 14.7%, net earnings $6.4M, operating cash flow $29.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $176M | -2% | +17% |
| Gross profit | $69.4M | -2% | +23% |
| Operating profit | $25.8M | -15% | +108% |
| Net earnings | $6.4M | -71% | +0.1% |
| Operating cash flow | $29.6M | +33% | +254% |
| Free cash flow | $26.1M | +29% | 12× |
What changed
Revenue was $175.9M in Q4 2025, up 17% year over year and down 2% from the previous quarter. Power Solutions and Protection was the largest line at 53% of revenue.
Gross margin was 39.4%, up 1.9 points from a year earlier. Operating profit was $25.8M, a 14.7% margin (up 6.4 points year over year). Of the extra revenue versus a year earlier, 51% reached operating profit, above the 8% margin then. Operating expenses fell 1% while revenue rose 17%. The fastest-growing cost line was Other operating costs (+45%). Net earnings were −$5.4M. The effective tax rate was 32.6%.
Operating cash flow was $29.6M (up 254% year over year), 459% of net income including minority interests. Non-cash charges added back $6.7M of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $14.3M. Capital expenditures of $3.4M left free cash flow of $26.1M.
Questions
What was BEL Fuse's revenue in the fourth quarter 2025?
BEL Fuse (BELFA) reported revenue of $176M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and -2% from the quarter before.
Was BEL Fuse profitable in the fourth quarter 2025?
Operating profit was $25.8M (14.7% of revenue) and net earnings $6.4M.
Source: BEL Fuse 10-K on SEC EDGAR.