Benchmark Electronics Inc (BHE)
🔔 Watch stock
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.
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
Basics
Performance
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
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.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.50 | 2.90 | 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 | -67.20 | 704 | 7.20 | 0.80 | 59 | 47 |
| 2026: Q1 | 0.36 | 260.60 | 677 | 7.20 | 1.90 | 47 | 29 |
- 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.
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 |
| Website | bench.com |
| IPO Date | 28. Jun 1990 |
| Next Earnings | 29. Jul 2026 |
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 20, 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.