Filing Flows › Benchmark Electronics (BHE) › Q4 2025
Benchmark Electronics (BHE) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Benchmark Electronics (BHE) reported revenue of $704M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +3% from the quarter before. Operating margin was 2.9%, net earnings $6.0M (0.8% of revenue).
Benchmark Electronics, Q4 2025: revenue $704M (+7% year over year), operating margin 2.9%, net earnings $6.0M, operating cash flow $58.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $704M | +3% | +7% |
| Gross profit | $74.2M | +9% | +9% |
| Operating profit | $20.1M | -15% | -29% |
| Net earnings | $6.0M | -58% | -63% |
| Operating cash flow | $58.7M | +60% | +28% |
| Free cash flow | $48.1M | — | +30% |
What changed
Revenue was $704.3M in Q4 2025, up 7% year over year and up 3% from the previous quarter.
Gross margin was 10.5%, up 0.2 points from a year earlier. Operating profit was $20.1M, a 2.9% margin (down 1.5 points year over year). Operating profit fell $8.4M even though revenue rose $47.4M versus a year earlier, so costs grew faster than sales. Operating expenses grew 37% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+690%). Net earnings were $6.0M, down 63% year over year. The effective tax rate was 62.5%.
Operating cash flow was $58.7M (up 28% year over year), 982% of net earnings. Non-cash charges added back $12.0M of depreciation and amortization and $2.1M of share-based compensation. Working capital and other items added $38.6M. After itions to property, plant and equipment and software ($10.6M), free cash flow as the company reports it was $48.1M.
Questions
What was Benchmark Electronics' revenue in the fourth quarter 2025?
Benchmark Electronics (BHE) reported revenue of $704M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +3% from the quarter before.
Was Benchmark Electronics profitable in the fourth quarter 2025?
Operating profit was $20.1M (2.9% of revenue) and net earnings $6.0M.