Benchmark Electronics, Inc. (BHE) Financial Ratios
30 years of historical data (1996–2025) · Technology · Hardware, Equipment & Parts
EV/EBITDA
↑
22.30
↑+135% vs avg
5yr avg: 9.51
30Y Low5.1·High48.5
P/FCF
↑
38.71
↑+197% vs avg
5yr avg: 13.06
30Y Low2.4·High99.3
P/B Ratio
↑
3.04
↑+164% vs avg
5yr avg: 1.15
30Y Low0.7·High3.2
ROE
↓
2.2%
↑-54% vs avg
5yr avg: 4.9%
30Y Low-14%·High13%
Debt/EBITDA
↑
2.68
+1% vs avg
5yr avg: 2.66
30Y Low0.1·High15.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BHE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Benchmark Electronics, Inc. trades at 135.5x earnings, 364% above its 5-year average of 29.2x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 367%. On a free-cash-flow basis, the stock trades at 38.7x P/FCF, 197% above the 5-year average of 13.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.3B | $1.6B | $1.7B | $994M | $953M | $978M | $994M | $1.3B | $988M | $1.4B | $1.5B |
| Enterprise Value | $3.4B | $1.6B | $1.7B | $1.2B | $1.2B | $928M | $816M | $1.2B | $684M | $915M | $1.1B |
| P/E Ratio → | 135.54 | 62.88 | 26.40 | 15.44 | 13.97 | 27.37 | 71.08 | 57.27 | 43.22 | — | 23.64 |
| P/S Ratio | 1.24 | 0.58 | 0.63 | 0.35 | 0.33 | 0.43 | 0.48 | 0.59 | 0.39 | 0.59 | 0.66 |
| P/B Ratio | 3.04 | 1.41 | 1.50 | 0.92 | 0.93 | 1.00 | 1.00 | 1.31 | 0.87 | 1.09 | 1.11 |
| P/FCF | 38.71 | 18.17 | 10.70 | 10.30 | — | — | 12.29 | 21.99 | 99.26 | 15.83 | 6.33 |
| P/OCF | 26.68 | 12.52 | 8.82 | 5.70 | — | — | 8.26 | 14.30 | 12.89 | 9.91 | 5.58 |
P/E links to full P/E history page with 30-year chart
BHE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Benchmark Electronics, Inc.'s enterprise value stands at 22.3x EBITDA, 135% above its 5-year average of 9.5x. The Technology sector median is 16.7x, placing the stock at a 34% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.62 | 0.65 | 0.41 | 0.40 | 0.41 | 0.40 | 0.53 | 0.27 | 0.37 | 0.46 |
| EV / EBITDA | 22.30 | 10.76 | 11.06 | 7.55 | 8.62 | 9.54 | 11.04 | 15.59 | 6.35 | 7.24 | 8.23 |
| EV / EBIT | 32.22 | 15.55 | 15.52 | 10.36 | 11.90 | 17.22 | 31.80 | 35.36 | 10.36 | 11.38 | 13.81 |
| EV / FCF | — | 19.17 | 11.03 | 12.13 | — | — | 10.08 | 19.81 | 68.72 | 10.02 | 4.45 |
BHE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Benchmark Electronics, Inc. earns an operating margin of 4.0%. ROE of 2.2% is modest. ROIC of 6.7% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.0% | 10.0% | 10.2% | 9.5% | 8.8% | 9.1% | 8.5% | 8.2% | 8.6% | 9.2% | 9.2% |
| Operating Margin | 4.0% | 4.0% | 4.1% | 3.9% | 3.1% | 2.4% | 1.2% | 1.3% | 2.3% | 3.2% | 3.3% |
| Net Profit Margin | 0.9% | 0.9% | 2.4% | 2.3% | 2.4% | 1.6% | 0.7% | 1.0% | 0.9% | -1.3% | 2.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.2% | 2.2% | 5.8% | 6.1% | 6.8% | 3.6% | 1.4% | 2.2% | 1.9% | -2.4% | 4.8% |
| ROA | 1.2% | 1.2% | 2.9% | 2.9% | 3.3% | 2.0% | 0.8% | 1.3% | 1.1% | -1.6% | 3.3% |
| ROIC | 6.7% | 6.7% | 6.8% | 6.6% | 6.3% | 4.6% | 2.2% | 2.5% | 5.4% | 6.9% | 5.7% |
| ROCE | 7.2% | 7.2% | 7.2% | 7.2% | 6.6% | 4.2% | 2.0% | 2.1% | 3.9% | 4.9% | 4.8% |
BHE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Benchmark Electronics, Inc. carries a Debt/EBITDA ratio of 2.7x, which is moderately leveraged (9% below the sector average of 2.9x). Net debt stands at $86M ($408M total debt minus $322M cash). Interest coverage of 5.2x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.37 | 0.37 | 0.33 | 0.42 | 0.40 | 0.23 | 0.21 | 0.21 | 0.14 | 0.16 | 0.17 |
| Debt / EBITDA | 2.68 | 2.68 | 2.35 | 2.93 | 3.06 | 2.27 | 2.87 | 2.80 | 1.43 | 1.67 | 1.78 |
| Net Debt / Equity | — | 0.08 | 0.05 | 0.16 | 0.20 | -0.05 | -0.18 | -0.13 | -0.27 | -0.40 | -0.33 |
| Net Debt / EBITDA | 0.56 | 0.56 | 0.33 | 1.14 | 1.52 | -0.52 | -2.41 | -1.71 | -2.82 | -4.20 | -3.46 |
| Debt / FCF | — | 1.00 | 0.33 | 1.83 | — | — | -2.21 | -2.18 | -30.54 | -5.81 | -1.87 |
| Interest Coverage | 5.22 | 5.22 | 4.12 | 3.55 | 7.54 | 6.36 | 3.07 | 5.09 | 6.30 | 8.55 | 8.33 |
BHE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Benchmark Electronics, Inc.'s current ratio of 2.28x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.52x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.28 | 2.28 | 2.32 | 2.29 | 2.21 | 2.06 | 2.50 | 2.60 | 2.61 | 3.38 | 3.71 |
| Quick Ratio | 1.52 | 1.52 | 1.46 | 1.33 | 1.23 | 1.26 | 1.82 | 1.92 | 2.04 | 2.55 | 2.79 |
| Cash Ratio | 0.51 | 0.51 | 0.49 | 0.39 | 0.28 | 0.42 | 0.81 | 0.76 | 0.85 | 1.55 | 1.65 |
| Asset Turnover | — | 1.28 | 1.24 | 1.25 | 1.30 | 1.18 | 1.18 | 1.29 | 1.35 | 1.18 | 1.16 |
| Inventory Turnover | 4.96 | 4.96 | 4.31 | 3.76 | 3.62 | 3.92 | 5.74 | 6.61 | 7.57 | 5.64 | 5.50 |
| Days Sales Outstanding | — | 53.68 | 79.71 | 80.28 | 85.43 | 82.78 | 80.45 | 78.31 | 86.53 | 86.29 | 69.64 |
BHE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Benchmark Electronics, Inc. returns 1.5% to shareholders annually — split between a 0.7% dividend yield and 0.8% buyback yield. The payout ratio of 98.3% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 0.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.7% | 1.6% | 1.4% | 2.4% | 2.4% | 2.4% | 2.3% | 1.7% | 2.1% | — | — |
| Payout Ratio | 98.3% | 98.3% | 37.8% | 36.5% | 33.9% | 65.0% | 163.9% | 99.4% | 92.1% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 1.6% | 3.8% | 6.5% | 7.2% | 3.7% | 1.4% | 1.7% | 2.3% | — | 4.2% |
| FCF Yield | 2.6% | 5.5% | 9.3% | 9.7% | — | — | 8.1% | 4.5% | 1.0% | 6.3% | 15.8% |
| Buyback Yield | 0.8% | 1.7% | 0.3% | 0.0% | 1.0% | 4.1% | 2.5% | 9.2% | 21.4% | 2.0% | 2.8% |
| Total Shareholder Yield | 1.5% | 3.3% | 1.7% | 2.4% | 3.4% | 6.5% | 4.9% | 10.9% | 23.6% | 2.0% | 2.8% |
| Shares Outstanding | — | $36M | $37M | $36M | $36M | $36M | $37M | $39M | $47M | $50M | $50M |
Peer Comparison
Compare BHE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BHEYou | $3B | 135.5 | 22.3 | 38.7 | 10.0% | 4.0% | 2.2% | 6.7% | 2.7 |
 JBL | $39B | 62.8 | 21.9 | 33.5 | 8.9% | 4.0% | 40.4% | 30.9% | 1.8 |
 CLS | $43B | 51.1 | 34.0 | 91.8 | 11.7% | 8.6% | 41.2% | 34.0% | 0.7 |
 FLEX | $54B | 70.0 | 32.9 | 50.9 | 8.4% | 4.5% | 16.2% | 13.0% | 2.4 |
 SANM | $13B | 54.1 | 26.6 | 27.9 | 8.8% | 4.4% | 10.0% | 13.0% | 0.8 |
 PLXS | $8B | 47.9 | 28.2 | 52.2 | 10.1% | 5.0% | 12.4% | 11.8% | 0.6 |
 AAON | $11B | 106.0 | 50.2 | — | 26.7% | 10.6% | 12.5% | 9.8% | 1.9 |
 NOVT | $6B | 105.6 | 30.7 | 114.2 | 41.6% | 11.9% | 5.2% | 7.4% | 1.9 |
 VICR | $15B | 127.0 | 252.6 | 125.3 | 52.6% | 9.0% | 18.5% | 8.9% | 0.2 |
 AVGO | $2.0T | 86.2 | 58.6 | 72.7 | 67.8% | 39.9% | 31.0% | 14.9% | 1.9 |
 TXN | $294B | 59.2 | 38.2 | 112.9 | 57.0% | 34.1% | 30.1% | 15.8% | 1.9 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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BHE — Frequently Asked Questions
Quick answers to the most common questions about buying BHE stock.
What is Benchmark Electronics, Inc.'s P/E ratio?
Benchmark Electronics, Inc.'s current P/E ratio is 135.5x. The historical average is 24.8x. This places it at the 100th percentile of its historical range.
What is Benchmark Electronics, Inc.'s EV/EBITDA?
Benchmark Electronics, Inc.'s current EV/EBITDA is 22.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.8x.
What is Benchmark Electronics, Inc.'s ROE?
Benchmark Electronics, Inc.'s return on equity (ROE) is 2.2%. The historical average is 5.3%.
Is BHE stock overvalued?
Based on historical data, Benchmark Electronics, Inc. is trading at a P/E of 135.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Benchmark Electronics, Inc.'s dividend yield?
Benchmark Electronics, Inc.'s current dividend yield is 0.73% with a payout ratio of 98.3%.
What are Benchmark Electronics, Inc.'s profit margins?
Benchmark Electronics, Inc. has 10.0% gross margin and 4.0% operating margin.
How much debt does Benchmark Electronics, Inc. have?
Benchmark Electronics, Inc.'s Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.