매출 하락 → 마진 압박 → 현금 악화
Critical매출이 -16.4% 감소하며 영업이익률이 13.8%에서 12.0%로 하락했다. 영업현금흐름도 동반 감소하여 수익-현금 순환이 약화되고 있다.
Evidence
매출 YoY -16.4% (2023→2024)영업이익률 13.8%→12.0%영업CF 108→74
Bel Fuse Class A
BELFA · Nasdaq$202.42+0.38%
2026-09-04 closeBel Fuse Class A last closed at $202.42 (+0.38%) on 2026-09-04. Listed on Nasdaq; price, financials and dividends update daily after market close.
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Super Strong RS 80 · top 20%
New high + volume — the real recordrecord · not a prediction
Last 30 sessions
277 picks
Next-day win rate
44.2%
Avg next-day
-0.28%
vs market
-0.51%p
Every new-high-plus-volume pick we actually published (US market) — not this stock alone.
Signal history
| Date | Signal | +20 trading days |
|---|---|---|
A record, not a prediction.
How this is calculated
"·" means fewer than 20 trading days have passed since the event. Cup-and-handle entries are days our board actually showed the badge (archive grows daily since 2026-05-12); others are recomputed from price data.
Trade plan
Fill entry, stop, account size and risk percent to get a share count. The stop must sit below the entry.
A calculator · not advice or a guarantee
Financials & valuation at a glance
A
Overall: IT하드웨어 19/124 · top 15%
Factor composite · relative position in sector
PER 69.17 · PBR 7.86 — own-history percentile 30/100 · 0/100
Open self-history band
PER30/100
PBR0/100
Factual information · not investment advice
Past reported results · not investment advice
More — deeper indicators
Annual dividend
Split-adjusted annual DPS history and available grade axes
Paid 23 consecutive years · Raised 0 consecutive years · Yield 0.12% (based on 2025 payment of $0.24) · 3-year growth +0.0%
Per-share amount adjusted for splits and capital reductions · Factual information, not investment advice.
Financial safety
Reference indicatorAs of 2024Safe zoneFinancial-metric reference signal
Altman Z'' zoneZ'' 3.98
Distress
Grey
Safe
- Altman Z''
- 3.98
- Beneish M-Score
- -2.28
- Sloan accrual
- -3.49%
No statistical flag
부실·조작 위험을 나타내는 사실 지표입니다. 투자 조언이 아니며, 검증 전이라 참고용입니다.
Factual information, not investment advice.
Why has this company moved this way?
Auditable observations with the original numeric evidence.
차입 증가 → 이자부담 → 수익성 악화
Critical부채가 +155.0% 늘며 이자보상배율이 30.9x에서 15.8x로 하락했다. ROE도 25.8%에서 17.8%로 낮아져 차입 부담이 수익성을 누르고 있다.
Evidence
부채 YoY +155.0%이자보상배율 30.9x→15.8xROE 25.8%→17.8%
Factual information, not investment advice.
Earnings quality · Piotroski F-Score
4/9Moderate
Piotroski measures year-over-year financial improvement, not absolute quality.
Financial improvement score4/9
Profitability
- Positive ROAPass
- Positive OCFPass
- Improving ΔROANot passed
- Accruals (OCF > net income)Pass
Leverage & liquidity
- Lower debtNot passed
- Higher current ratioNot passed
- No new sharesNot passed
Efficiency
- Higher gross marginPass
- Higher asset turnoverNot passed
Calculation note: F7(신주)은 equity/asset 유지로 근사
Already-stable companies may score lower when year-over-year improvement is limited.
Factual information, not investment advice.
Forensic signals
Anomaly and structural signals observed in the financial statements.
Balance sheetWarning
부채총계 급증 (+155%). 통계적 정황 신호이며 회계부정 단정이 아닙니다.
Factual information, not investment advice.
Industry structure
USAs of 2026-09-05IT하드웨어
This stock is in IT하드웨어: revenue rank 61 of 122, share 0.1%.
61 / 1220.1%revenue share
Who dominates this industry?
- 1Apple40.9%
- 2Dell Technologies Class C9.4%
- 3TD Synnex5.7%
- 4Cisco Systems5.6%
- 5HP5.4%
- 6Bel Fuse Class A0.1%
Concentration
ModerateCR3 56%HHI and CR3 are separate industrial-organization facts; they are not the polarization verdict.
Polarization
MixedConsistentPolarization measures industry gaps and structure, not valuation, forecast, or investment advice.
Margin lens
- IQR%p
- 13.9
- Direction
- 확대
- Level
- 보통
- Years
- 8
Value lens
- P90/P10
- 28.5
- Median P/B
- 2.52
- Level
- 넓음
- n
- 106
Survivorship note: 현재 산업 멤버십을 과거 연도에 소급 적용 — 과거 진입·퇴출 기업 미반영(복원 불가)
Factual information, not investment advice.
Risk sensitivity — adverse assumptions
Metric changes under stated assumptions; not a forecast or investment advice.
Base metrics
- Operating margin
- 12%
- Interest coverage
- 15.8x
- Return on equity (ROE)
- 11.4%
Operating margin −5pp
TolerableInterest coverageBase 15.8x adverse case 9.2x
Return on equity (ROE)Base 11.4% adverse case 9.3%
Revenue −15%
TolerableInterest coverageBase 15.8x adverse case 13.4x
Return on equity (ROE)Base 11.4% adverse case 14%
Interest rate +2pp
TolerableInterest coverageBase 15.8x adverse case 4.1x
Return on equity (ROE)Base 11.4% adverse case 13.4%
Interest coverage limit
Current margin 11.3ppInterest coverage limit at an operating margin of 0.8%
Interest expense coverage threshold
Connections
AI-extracted related companies · for reference
Customers
Competitors
AmphenolPrice comovement r=0.49 (1 year)TE ConnectivityPrice comovement r=0.55 (1 year)VicorPrice comovement r=0.38 (1 year)Murata ManufacturingTDKSchaffner
Same theme
전자부품 산업
Recent filings
Filings for overseas stocks are on the way. For now we cover Korean stocks only.
About Bel Fuse Class A
- What technical signals does Bel Fuse Class A (BELFA) have?
- Bel Fuse Class A current technical signals: no active technical signal.
- Is Bel Fuse Class A a cup-and-handle pattern?
- No. Bel Fuse Class A has no valid cup-and-handle signal right now.
- What are Bel Fuse Class A's financials and valuation?
- Bel Fuse Class A's income statement, balance sheet and cash flow are free for the most recent 8 years; the full history is on Pro. PER/PBR, dividend yield and sector valuation bands are free.
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