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BENCHMARK ELECTRONICS INC BHE

NYSE · stock · Printed Circuit Boards · website · IPO 1990-06-27 · LEI

BENCHMARK ELECTRONICS INC statistics & valuation

Market cap$3.3B
P / E132.9×
P / S1.2×
P / B3.0×
P / FCF37.4×
Dividend yield0.74%
Net margin0.9%
Return on equity2.3%
FCF margin3.2%
Net cash$111.5M
Net debt / EBITDA-0.9×
Enterprise value USD$3.2B
EV / EBITDA25.8×
Earnings yield EBIT/EV2.4%
Return on capital5.3%
Graham number -73.7%$21.53

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($21.53); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
2.80% -1.30% 0.90% 1.00% 0.70% 1.50% 2.30% 2.30% 2.20% 0.90% 2016201720182019202020212022202320242025
Gross margin (%)
9.20% 9.20% 7.80% 7.90% 8.20% 8.80% 8.50% 9.10% 9.80% 9.80% 2016201720182019202020212022202320242025
Operating margin (%)
3.30% 3.10% 2.20% 1.20% 1.20% 2.30% 3.00% 3.70% 4.00% 2.80% 2016201720182019202020212022202320242025
Return on equity (%)
4.60% -2.40% 2.00% 2.30% 1.40% 3.70% 6.60% 6.40% 5.50% 2.30% 2016201720182019202020212022202320242025
Shares outstanding
49.8M 49.7M 46.7M 38.8M 36.8M 36.1M 35.7M 36.0M 36.8M 36.3M 2016201720182019202020212022202320242025
Net debt ($)
-$310.2M -$204.8M -$255.1M -$142.2M $117.0M $53.2M -$58.1M -$111.5M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.20% -1.50% 1.20% 1.30% 0.80% 1.90% 3.10% 3.00% 2.90% 1.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
10.40% 3.90% 0.50% 2.60% 4.00% -1.80% -7.30% 3.40% 5.70% 3.20% 2016201720182019202020212022202320242025
Debt / equity (×)
0.13× 0.14× 0.14× 0.13× 0.32× 0.31× 0.23× 0.19× 2016201720182019202020212022202320242025
EPS ($)
$1.28 -$0.64 $0.49 $0.60 $0.38 $0.99 $1.91 $1.92 $1.66 $0.68 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BENCHMARK ELECTRONICS INC trades at about 120.5× earnings — above its 10-year norm (10-year range 11.5×–76.7×, median 25.7×).

11.5× 120.5×

Shaded band = 10-year range (11.5×–76.7×); dot = today's 120.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin9.8%9.8%9.1%8.5%8.8%8.2%7.9%7.8%9.2%9.2%
Operating margin2.8%4.0%3.7%3.0%2.3%1.2%1.2%2.2%3.1%3.3%
Net margin0.9%2.2%2.3%2.3%1.5%0.7%1.0%0.9%-1.3%2.8%
FCF margin3.2%5.7%3.4%-7.3%-1.8%4.0%2.6%0.5%3.9%10.4%
Return on assets1.2%2.9%3.0%3.1%1.9%0.8%1.3%1.2%-1.5%3.2%
Return on equity2.3%5.5%6.4%6.6%3.7%1.4%2.3%2.0%-2.4%4.6%
Debt / equity0.19×0.23×0.31×0.32×0.13×0.14×0.14×0.13×——
Current ratio2.282.322.292.212.062.502.602.613.413.71

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.