Benchmark Electronics Inc logo

Benchmark Electronics Inc(BHE)

Top Performer Top performer
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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
4-STAR RATING
PASS
LAST CLOSE
$82.52
09/25/2026
(24-hour delay)

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Upturn Advisory & Investor View for BHE

09/25/2026: BHE (4-star) is currently NOT-A-BUY. Pass it for now.

Benchmark Electronics is an integrated electronics manufacturing services provider focused on complex, high-reliability products for sectors like medical, aerospace, and industrial technology. The company distinguishes itself through a strong blend of design engineering and precision manufacturing, which helps secure long-term client relationships in specialized markets. While its focus on high-margin sectors provides a competitive advantage, the business remains sensitive to cyclical industrial spending and supply chain fluctuations. The stock may suit value-oriented investors seeking exposure to industrial infrastructure, though investors should monitor customer concentration risks and execution of their technology-driven growth strategy. Future results will likely depend on their ability to capture demand in high-growth hardware segments.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitBenchmark offers steady growth in specialized niches but is not a high-beta hyper-growth company.
Momentum investorMixed fitMomentum appeal is dependent on cyclical upturns in industrial and medical end-markets.
Value investorStrong fitThe company is often traded at valuation multiples that attract value-oriented investors focused on book value and cash flow.
Dividend investorMixed fitBenchmark provides a consistent dividend, but it is not primarily a high-yield income play.
Low-risk investorMixed fitWhile established, the company's reliance on large OEM contracts and industrial cycles introduces moderate volatility.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityMedium / highThe stock is subject to broader industrial sector market sentiment and cyclical demand shifts.
Valuation riskMediumInvestors must monitor if earnings growth justifies the current P/E multiple relative to peer benchmarks.
Competition risk (EMS market competition)HighIntense competition from larger EMS providers can pressure margins on high-volume production contracts.
Business qualityMediumThe company possesses solid technical expertise, though operating margins remain sensitive to cost-management execution.
Dividend incomeLowThe dividend yield is modest and secondary to capital appreciation as an investment goal.
Execution riskMediumSuccess depends on the effective integration of new technologies and maintaining high yield standards for critical products.

Price Behavior

Rolling Over
PRICE PATH

Rolling Over

The price momentum is slowing down and beginning to turn downward.

Moderately Choppy
PRICE STABILITY

Moderately Choppy

The stock has experienced noticeable price swings while retaining some directional structure.

Analysis of Past Performance

Type Stock
Historic Profit 167.42%
Avg. Invested days 64
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 5.0
Stock Returns Performance Upturn Returns Performance icon 5.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
BHE receives a 3-star rating, supported by available scored pillars. The rating is constrained by soft unit economics, weak price momentum, and limited analyst upside.

Company Fundamentals

★★★★★
BHE has moderate overall fundamentals (3 stars), with moderate financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-60.8%), soft cash generation (FCF margin 3.2%), moderate revenue growth (+0.1%).

Financial Health Rating

★★★★★
BHE's financial health is supported by solid liquidity, including working-capital and asset support (WC/assets 39.2%). Profitability is soft (2 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is BHE's strongest growth driver at +0.1% FY2025 versus FY2024 (moderate, 3 stars). By comparison, while earnings growth (-60.8%, negative) and free-cash-flow growth (-45.2%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 105.0% and approximately 97.9% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 1.81% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 15.71%
Vanguard Portfolio Management, LLC 8.75%
Franklin Templeton Inc 7.69%
Dimensional Fund Advisors, Inc. 6.21%
American Century Companies Inc 5.21%

Unit Economics (Per $1K Revenue)

★★★★★
BHE generates approximately $100 of gross profit, $40 of operating income, and $32 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 59.61%

Quantitative Style Profile

★★★★★
BHE has a liquid profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 2.95B USD
Price to earnings Ratio 56.66
1Y Target Price 86
Price to earnings Ratio 56.66
1Y Target Price 86
Volume (30-day avg) 366.8K shares
Beta 1.27
52 Weeks Range 35.59 - 100.41
Updated Date 09/24/2026
52 Weeks Range 35.59 - 100.41
Updated Date 09/24/2026
Dividends yield (FY) 0.82%
Basic EPS (TTM) 1.45

How Company Makes Money

Business areaWhat it includesRetail investor read
Manufacturing ServicesAssembly, testing, and production of complex electronics for Medical, Aerospace, and Industrial sectors.This is the core revenue driver, relying on long-term contracts with high-end equipment manufacturers.
Engineering ServicesProduct design, prototyping, and engineering consulting services.This area provides higher-margin support and helps lock in customer relationships before manufacturing begins.

Analyzing Revenue: Products, Geography and Growth

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE 56.66
Forward PE 14.14
Enterprise Value 2.95B
Price to Sales(TTM) 1.05
Enterprise Value 2.95B
Price to Sales(TTM) 1.05
Enterprise Value to Revenue 1.05
Enterprise Value to EBITDA 20.01
Shares Outstanding 35.92M
Shares Floating 35.17M
Shares Outstanding 35.92M
Shares Floating 35.17M
Percent Insiders 1.81
Percent Institutions 105.04

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Benchmark Electronics Inc

Exchange NYSE
Headquarters Tempe, AZ, United States
IPO Launch date 1990-06-28
President, CEO & Director Mr. David A. Moezidis
Sector Technology
Industry Electronic Components
Full time employees 11840
Full time employees 11840

Benchmark Electronics, Inc., together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. It provides design and engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom test and automation equipment design services. The company also offers electronics manufacturing and testing services, such as printed circuit board assembly and test solutions, assembly of subsystems, circuitry and functionality testing of printed assemblies, environmental and stress testing, and component reliability testing; component engineering services; failure analysis; and systems assembly and test development solutions include subsystem and system-level integration, configuration, and testing for various industries, as well as in-circuit test, functional test, defect analysis, environmental stress screening, reliability testing, and custom test solutions. In addition, it provides precision metal machining, complex vertically integrated assemblies, e-beam welding, full electromechanical assembly of machined subsystems, and system integration and test services. Further, the company provides value-added support systems; supply chain management solutions; direct order fulfillment; and aftermarket non-warranty services, including repair, replacement, refurbishment, remanufacturing, exchange, systems upgrade, and spare parts manufacturing throughout a product's life cycle. It serves original equipment manufacturers in the advanced computing and communications, aerospace and defense, industrial, medical, and semiconductor capital equipment industries. The company markets its services and solutions primarily through a direct sales force. Benchmark Electronics, Inc. was founded in 1979 and is headquartered in Tempe, Arizona.