Feed / BHE

Benchmark Electronics, Inc.

BHE

Technology · 77.27 +3.9% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:10 GMT-4

Market read

Benchmark Electronics, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.

Company+3.9% todayVolume comparison unavailable
Market group0 of 29 activeSemiconductor Manufacturing · unavailable
Disclosed network0 of 7 confirmingNo filing-linked name is confirming now
What would change this read
  • BHE's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if BHE's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Electronic Components

No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • BHE's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements80
Verified relationships8
Evidence supporting the case
  • Operating cash flow covered net income at 4.99x in the latest annual period.
  • Supply chain and availability has repeated favorable evidence across 3 filings.
  • Material customer AMAT most recently reported revenue +24.8% year over year.
Evidence challenging the case
  • Latest annual revenue changed -0.4% year over year.
  • Operating margin changed -1.2 percentage points in the latest annual period.
  • Net margin changed -1.3 percentage points in the latest annual period.
  • Credit and interest rates has repeated adverse evidence across 3 filings.
  • Demand and volume has repeated adverse evidence across 3 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 3 filings.
Questions before a position
  • P/E is 137% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 28% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

73.94
6m+27.9%12m+79.6%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.3B+10.1%$0.99-1.9%
2022-12-31$3.0B+28.4%$1.91-1.1%
2023-12-31$3.0B-1.5%$1.92+0.7%
2024-12-31$2.8B-7.0%$1.66+2.2%
2025-12-31$2.7B-0.4%$0.68-1.2%

What management says matters

Persistent and emerging business drivers

Capital investment and capacitymixed · 3 filings
“Cash used in investing activities was $32.7 million in 2025 primarily due to capital expenditures for property, plant and equipment of $35.6 million, purchased software of $2.9 million partially offset by $5.1 million of proceeds from business divestiture and…”
10-K · Feb 24, 2026 ↗
Credit and interest ratesnegative · 3 filings
“Interest Expense Interest expense decreased to $20.2 million in 2025 from $26.9 million in 2024 primarily due to decreased borrowings and a lower interest rate environment.”
10-K · Feb 24, 2026 ↗
Demand and volumemixed · 3 filings
“2025 sales increased 7% to $1.2 billion from $1.1 billion in 2024 primarily due to increases in existing customer demand of our A&D, Semi-Cap, and Industrial sectors.”
10-K · Feb 24, 2026 ↗
Restructuring and cost reductionsnegative · 3 filings
“2025 Cash Flows Cash provided from operating activities was $124.0 million in 2025 and primarily consisted of $24.9 million of net income, adjusted for $47.6 million of depreciation and amortization, $17.2 million of stock-based compensation expense, $11.1 mi…”
10-K · Feb 24, 2026 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.0× · EV/sales 0.9×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

77.27+3.9% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:10 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for BHE. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for BHE. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind BHE

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

AMAT14.0% of BHEcustomerFeb 24, 2026 ▾

“Sales to our largest customer, Applied Materials, Inc.”

FLEXFlex Ltd.partnerFeb 24, 2026 ▾

“Our comprehensive set of PCBA manufacturing technologies and solutions include: ▪ Surface Mount Technology ▪ Substrate Technology: Rigid Epoxy, Flex, Ceramic, Glass, Rigid-Flex ▪ Pin-in-Paste Technology ▪ Conformal Coating and Potting ▪ RoHS Soldering Process…”

Depended on by

TRMBTrimble Inc.supplierFeb 25, 2026 ▾

“Manufacturing We outsource the manufacturing of many of our hardware products to our key contract manufacturing partners, which include Jabil and Benchmark Electronics Inc.”

Filing peers

JBLSANMPRLB

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 4 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

BHE is currently a Follower in the organic co-movement group Semiconductor Manufacturing. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for BHE; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.