BHE · Benchmark Electronics Inc
10 customers — 50% of revenue (the six months ended June 30, 2026)
“Sales to our ten largest customers represented 50% and 53% of our total sales during the six months ended June 30, 2026 and 2025, respectively.”
10 customers — 53% of revenue (the six months ended June 30, 2025)
“Sales to our ten largest customers represented 50% and 53% of our total sales during the six months ended June 30, 2026 and 2025, respectively.”
Price & Indicators
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Jul 29, 2026TL;DR. Benchmark Electronics reported Q2 revenue of $756 million (+18% YoY) and non-GAAP EPS of $0.75 (+36% YoY), both above the high end of prior guidance, and raised its full-year 2026 revenue outlook to a record $3 billion (~13% growth). Operating margin expanded and cash conversion improved, though A&D revenue declined and the company paused share buybacks.
- + Q2 revenue and EPS exceeded high end of prior guidance; full-year 2026 revenue outlook raised to a record $3 billion (~13% growth).
- + Non-GAAP operating margin expanded 50 bps YoY to 5.2%, with operating income up 30% and EPS up 36% — growing 1.5–2x the pace of revenue.
- + Cash conversion cycle improved 26 days YoY to 59 days while generating $22M of free cash flow, with $315M cash and over $500M revolver capacity.
- + Record bookings in Q2 with A&D the largest contributor; A&D expected to return to growth in 2027 as new programs ramp.
- + Capacity expansion on track — Penang PT4 ramping and new Thailand building groundbreaking in Q3 2026 to support growth.
- − Q3 2026 guidance implies a sequential revenue decline at the midpoint and operating expense pressure from higher variable compensation.
- − Supply chain tightening, including lengthening lead times (in some cases up to 12 months) and memory constraints, flagged as an execution risk.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Electronic Components — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
BHE
this stock
Benchmark Electronics Inc
|
$3.00B | +104.4% | +0.1% | 57.2 | 3.8% |
|
APH
Amphenol Corp /De/
|
$416.11B | — | +51.7% | 84.6 | 0.6% |
|
GLW
Corning Inc /Ny
|
$135.01B | +87.5% | +19.1% | 71.9 | 2.0% |
|
MRAAF
Murata Manufacturing Co., Ltd./ADR
|
$93.18B | +151.3% | — | — | 0.1% |
|
TEL
TE Connectivity plc
|
$63.28B | -3.1% | +8.9% | 21.4 | 2.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| BHE | +5.9% | +22.7% | +34.7% | +5.4% | +104.4% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | +6.1% | +23.2% | +22.5% | +4.5% | +91.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.