Benchmark Electronics Inc (BHE)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today is betting that two quarters of program wins become a durable growth path, that the tax rate stays normal and that the chip-equipment cycle holds — and pays nearly two and a half times the price the company itself set on its shares in 2025. Whoever waits checks three things in every quarterly report (10-Q): Does revenue grow against normal comparison quarters too? Do the AC&C and medical dynamics hold? And does Semi-Cap stay stable? Two or three quarters of answers cost some return but replace the bet with evidence. The decision is yours.
symbol.quality_note
Benchmark Electronics builds electronics for other companies — from chip-making equipment modules to medical devices — and lights up 24 trend filters in our in-house stock scanner, about 2 percent below its all-time high (data as of July 17, 2026). We read the annual reports (10-K) for 2023 through 2025 and the quarterly report (10-Q) as of March 31, 2026: revenue below its 2023 level, a 59.6 percent tax rate that cut 2025 profit by more than half, one customer paying 14 percent of the bills — and the company buying back its own shares at an average of $38.22 while the market now pays nearly two and a half times as much. Not investment advice — we simply hold the price tag up against the balance sheet.
Read the analysis
Stock Watch
This analysis is as of July 17, 2026. Stock Watch will tell you what's changed at BHE since then.
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Appears in These Scanners
This stock currently matches 25 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 79.80 $ — 70% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
NeutralGeprüft am 17.07.2026 gegen den Geschäftsbericht (10-K) für 2025 (eingereicht 24.02.2026), den 10-K für 2024 (24.02.2025) und die vier jüngsten Quartalsberichte (10-Q, zuletzt zum 31.03.2026): In den ausgewerteten SEC-Filings von Benchmark Electronics findet sich kein wesentlicher KI-Bezug. Der 10-K 2025 erwähnt „artificial intelligence“ nur an drei Randstellen: (1) im Wettbewerbs-Risikofaktor — größere EMS-Konkurrenten „may respond more quickly than us to advancements in technology, such as artificial intelligence“ (beiläufige Technologie-Aufzählung, kein konkretes, aufs eigene Geschäftsmodell zugeschnittenes KI-Risiko), (2) als Prüfvorhaben in der Fertigung — „We are continually evaluating the advantages and feasibility of new manufacturing processes (including utilization of machine learning and artificial intelligence)“ (Evaluierung, kein belegter operativer Einsatz), und (3) als Vertraulichkeits-Risiko, falls Dienstleister „third-party artificial intelligence-powered software“ nutzen. Weder KI-Umsatzquelle noch belegter operativer KI-Einsatz noch konkretes KI-Geschäftsrisiko; der 10-K 2024 und alle vier 10-Q enthalten überhaupt keine KI-Treffer. Dass der Sektor Advanced Computing & Communications (13 Prozent des Umsatzes 2025) Hochleistungsrechner-Fertigung umfasst, begründet nach dem Kriterienkatalog kein „verkauft“ — Benchmark verkauft Fertigungsdienstleistung, keine KI. Es bleibt bei „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-04-30 · 10-Q 2025-11-05 · 10-Q 2025-07-31 · 10-Q 2025-05-01 · 10-K 2026-02-24 · 10-K 2025-02-24
Rated on July 17, 2026 · How the Rating Is Built
Growth Score
4 of 10 Weak growthTen checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -2.7% failed
- More than 10% revenue growth is expected for the coming year 6.5% failed
- Share count grows by less than 3% a year 0.5% passed
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 3.3% failed
- Gross margin at 40% or higher and without meaningful erosion 10.0% failed
- Goodwill from acquisitions does not grow faster than revenue 9.3% failed
- Net debt below twice EBITDA 13 m net cash passed
- Operating cash flow covers the profits of the last three years 335 m passed
- Return on capital at 15% or higher, or up versus two years ago 7.3% passed
- Insiders hold at least 10% or are net buyers 1.8% failed
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 7.8% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 3
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 2.94 | 2.92 – 2.96 | 3,003 | 22.6% | 3 |
| 12/31/2027 | 3.31 | 3.28 – 3.34 | 3,215 | 12.3% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.43 | -30.60 | 657 | -5.00 | 2.80 | 46 | 37 |
| 2025: Q1 | 0.10 | -74.10 | 632 | -6.50 | 0.60 | 32 | 27 |
| 2025: Q2 | 0.03 | -93.70 | 642 | -3.50 | 0.20 | -3 | -15 |
| 2025: Q3 | 0.39 | -6.10 | 681 | 3.50 | 2.10 | 37 | 26 |
| 2025: Q4 | 0.17 | -60.50 | 704 | 7.20 | 0.80 | 59 | 47 |
| 2026: Q1 | 0.36 | 260.60 | 677 | 7.20 | 1.90 | 47 | 29 |
| 2026: Q2 | 0.55 | 1,733.30 | 756 | 17.70 | 2.60 | 35 | 22 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 2,310 | 76 | 64 | 1.29 | 273 | 1,365 | 1,999 |
| 2017 | 2,467 | 79 | -32 | -0.64 | 146 | 1,329 | 2,097 |
| 2018 | 2,566 | 59 | 23 | 0.49 | 77 | 1,132 | 1,900 |
| 2019 | 2,268 | 29 | 23 | 0.60 | 93 | 1,015 | 1,760 |
| 2020 | 2,053 | 25 | 14 | 0.38 | 120 | 990 | 1,744 |
| 2021 | 2,255 | 53 | 36 | 0.99 | -3 | 974 | 1,904 |
| 2022 | 2,886 | 90 | 68 | 1.91 | -177 | 1,026 | 2,227 |
| 2023 | 2,839 | 110 | 64 | 1.79 | 174 | 1,079 | 2,275 |
| 2024 | 2,656 | 109 | 63 | 1.72 | 189 | 1,113 | 2,139 |
| 2025 | 2,659 | 105 | 25 | 0.68 | 124 | 1,100 | 2,072 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
$324.9 million in cash against $147.2 million of borrowings (March 31, 2026), an untouched $550 million credit facility through 2030, a Piotroski F-score of 8 of 9, an Altman Z-score around 8, a quarterly dividend plus buybacks — Benchmark is fundamentally soundly financed (10-K 2025, 10-Q as of 03/31/2026; scanner data as of July 17, 2026).
Weinstein stage-2 uptrend, relative strength rating of 94, Minervini criteria met, about 2 percent below the all-time high, 24 scanner hits, up 148 percent in twelve months (data as of July 17, 2026) — the trend picture is as strong as for few stocks in the momentum run.
2025 revenue: $2,659.1 million — up 0.1 percent on the prior year and below the 2023 level ($2,839.0 million); the 7 percent quarterly growth and the +257 percent profit jump in the first quarter of 2026 stand on a comparison base depressed by one-offs (10-K 2025, 10-Q as of 03/31/2026).
A 10.2 percent gross margin and a 0.9 percent net margin in 2025: a 59.6 percent tax rate, an $11.1 million plant impairment and an $11.0 million tax settlement halved profit — a business without a crumple zone where every special item hits at full force; plus quietly corrected tax-calculation errors of earlier years (Note 1 of the 2025 10-K).
Applied Materials accounts for 14 percent and the top ten customers for 51 percent of sales — with no purchase obligations; the largest sector, Semi-Cap (28 percent), rides the semiconductor equipment cycle and was already shrinking again slightly in the first quarter of 2026 (10-K 2025, Item 1; 10-Q as of 03/31/2026).
A P/E around 98 trailing resp. around 35 on the 2026 estimate, price-to-sales around 1.3 — while the company itself bought back at an average of $38.22 in 2025; insiders: twelve sales, no purchase; funds: 8 accumulators against 10 reducers; only three analysts cover the stock (data as of July 17, 2026). Normalized earnings can grow into this valuation — but they have to first.
Benchmark Electronics is a fundamentally solid, net-cash company with genuine new programs in medical devices and high-performance computing — and a stock whose price has nearly doubled while revenue sits below its 2023 level and the 2025 net margin stayed under one percent. The 2025 profit collapse was one-off driven (a 59.6 percent tax rate), the 2026 recovery is real but base-effect amplified. At 98 times trailing earnings, the market is paying for a Benchmark that operationally has yet to come into being. Not investment advice.
- BHE landed on the research list through the momentum/stage-2 run of July 17, 2026 (24 hits in our in-house stock scanner, incl. Stan Weinstein stage 2, RS leader ≥90, Minervini trend criteria, pros 80%).
- Scanner metrics (P/E, P/S, Piotroski, Altman-Z, fundamental grade, earnings growth) use trailing twelve-month figures; the 2025 one-offs are baked in — the reported quarterly earnings growth of plus 261 percent is correspondingly base-effect amplified.
- Price and valuation figures dated July 17, 2026 (about $97, roughly $3.5 billion market value); analyses are evergreen, daily prices are not a buy argument.
About the Company
Benchmark Electronics, Inc. bietet gemeinsam mit ihren Tochtergesellschaften Produktdesign, Ingenieurleistungen, Technologielösungen und Fertigungsdienstleistungen in Amerika, Asien und Europa an.
| Employees | 11,840 |
|---|---|
| Headquarters | Tempe, AZ |
| Address | 56 South Rockford Drive, 85288 Tempe, United States |
| Phone | 623 300 7000 |
| Website | bench.com |
| IPO Date | 28. Jun 1990 |
| ISIN | US08160H1014 |
| Stock Split | 3:2 on 04/04/2006 |
Management
| Name | Title | Birth Year |
|---|---|---|
| David A. Moezidis | President, CEO & Director | 1972 |
| Bryan R. Schumaker CPA | Executive VP, CFO & Principal Accounting Officer | 1976 |
| David A. Valkanoff | Executive VP & COO | 1964 |
| Stephen J. Beaver Esq. | Senior VP, Corporate Secretary, General Counsel & Chief Legal Officer | 1972 |
| Josh T. Hollin | Senior VP & CTO | 1973 |
| Bipin Jayaraj | Senior VP and Chief Digital & Information Officer | 1977 |
| Paul Mansky | Investor Relations & Corporate Development Officer | – |
| Rhonda R. Buseman | Senior VP & Chief Human Resources Officer | 1973 |
| David A. Clark | Senior VP & Chief Procurement Officer | 1961 |
| David L. Cummings | Senior VP & Chief Commercial Officer | 1961 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.