Benchmark Electronics Inc. is an American electronics manufacturing services (EMS) company headquartered in Tempe, Arizona. The company provides engineering, design, manufacturing, testing, and supply chain services for original equipment manufacturers serving the aerospace and defense, medical, industrial, semiconductor capital equipment, advanced computing, and communications industries.3 Its shares trade on NYSE under the symbol BHE.1Wikipedia text CC BY-SA 4.0
Benchmark Electronics Inc. is an American electronics manufacturing services (EMS) company headquartered in Tempe, Arizona. The company provides engineering, design, manufacturing, testing, and supply chain services for original equipment manufacturers serving the aerospace and defense, medical, industrial, semiconductor capital equipment, advanced computing, and communications industries.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$2.7B in 2025+17% since 2019Gross profit101112139$270.1M in 2025+46% since 2019Operating income101112139$76.0M in 2025+166% since 2019Net income101112139$24.9M in 2025+6% since 2019
Revenue1415$777.5M in Q2 FY2026+11% since Q1 FY2026Gross profit1415$78.4M in Q2 FY2026+13% since Q1 FY2026Operating income1415$30.3M in Q2 FY2026+38% since Q1 FY2026Net income1415$19.9M in Q2 FY2026+53% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Sales
$2.7B
$2.7B
$2.8B
Cost of sales
$2.4B
$2.4B
$2.6B
Gross profit
$270.1M
$270.0M
$271.1M
Selling, general and administrative expenses
$159.7M
$149.5M
$147.0M
Amortization of intangible assets
$4.8M
$4.8M
$6.0M
Restructuring charges and other costs
$29.5M
$6.3M
$8.4M
Income from operations
$76.0M
$109.4M
$109.7M
Interest expense
-$20.2M
-$26.9M
-$31.9M
Interest income
$9.6M
$10.2M
$6.3M
Other expense, net
-$3.9M
-$8.8M
-$2.8M
Income before income taxes
$61.5M
$83.9M
$81.2M
Income tax expense
$36.7M
$22.8M
$12.3M
Net income
$24.9M
$61.1M
$68.9M
Basic
$0.69
$1.70
$1.94
Diluted
$0.68
$1.66
$1.92
Basic
35.9M shares
36.0M shares
35.6M shares
Diluted
36.3M shares
36.8M shares
36.0M shares
No quarter-by-quarter statement was filed.
Total assets101112139$2.1B in 2025+18% since 2019Total liabilities9$971.9M in 2025−6% since 2024Shareholders’ equity16101112139$1.1B in 2025+8% since 2019Cash16101112139$322.1M in 2025−7% since 2019Long-term debt16101112139$210.6M in 2025+48% since 2019
Total assets1415$2.2B in Q2 FY2026+7% since Q1 FY2025Total liabilities1415$1.1B in Q2 FY2026+13% since Q1 FY2025Shareholders’ equity1415$1.1B in Q2 FY2026+1% since Q1 FY2025Cash1415$314.8M in Q2 FY2026−2% since Q1 FY2025Long-term debt1415$181.0M in Q2 FY2026−14% since Q1 FY2025
Every line of the balance sheet as filed: the last 2 fiscal years (annual) or 2 quarters (quarterly), latest first.9
Period ending
2025-12-31
2024-12-31
Cash and cash equivalents
$322.1M
$315.2M
Restricted cash
$336.0K
$12.9M
Accounts receivable, net of allowance for doubtful accounts of $438 and $241, respectively
$391.1M
$412.5M
Contract assets
$182.9M
$167.6M
Inventories
$482.5M
$553.7M
Prepaid expenses and other current assets
$69.2M
$44.7M
Total current assets
$1.4B
$1.5B
Property, plant and equipment, net
$223.8M
$225.1M
Operating lease right-of-use assets
$102.7M
$118.0M
Goodwill
$192.1M
$192.1M
Deferred income taxes
$34.9M
$26.7M
Other long-term assets
$70.1M
$66.1M
Total assets
$2.1B
$2.1B
Current installments of long-term debt
$3.8M
$6.7M
Accounts payable
$403.2M
$354.2M
Advance payments from customers
$115.5M
$143.6M
Income taxes payable
$7.7M
$22.1M
Accrued liabilities
$105.4M
$122.4M
Total current liabilities
$635.6M
$649.1M
Long-term debt, net of current installments
$206.8M
$250.5M
Operating lease liabilities
$98.7M
$109.0M
Other long-term liabilities
$23.3M
$17.6M
Deferred income taxes
$7.5M
$3.7M
Total liabilities
$971.9M
$1.0B
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued
$0
$0
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - 35,669 and 35,992, respectively
$3.6M
$3.6M
Additional paid-in capital
$537.0M
$534.9M
Retained earnings
$568.2M
$587.3M
Accumulated other comprehensive loss
-$9.0M
-$21.2M
Total shareholders equity
$1.1B
$1.1B
Total liabilities and shareholders' equity
$2.1B
$2.1B
Allowance for doubtful accounts, accounts receivable
$438.0K
$241.0K
Preferred shares, par value
$0.10
$0.10
Preferred shares, shares authorized
5.0M shares
5.0M shares
Preferred shares, issued
0 shares
0 shares
Common stock, par value
$0.10
$0.10
Common stock, shares authorized
145.0M shares
145.0M shares
Common stock, issued
35.7M shares
36.0M shares
Common stock, outstanding
35.7M shares
36.0M shares
Period ending
2025-12-31
2024-12-31
Cash and cash equivalents
$322.1M
$315.2M
Restricted cash
$336.0K
$12.9M
Accounts receivable, net of allowance for doubtful accounts of $438 and $241, respectively
$391.1M
$412.5M
Contract assets
$182.9M
$167.6M
Inventories
$482.5M
$553.7M
Prepaid expenses and other current assets
$69.2M
$44.7M
Total current assets
$1.4B
$1.5B
Property, plant and equipment, net
$223.8M
$225.1M
Operating lease right-of-use assets
$102.7M
$118.0M
Goodwill
$192.1M
$192.1M
Deferred income taxes
$34.9M
$26.7M
Other long-term assets
$70.1M
$66.1M
Total assets
$2.1B
$2.1B
Current installments of long-term debt
$3.8M
$6.7M
Accounts payable
$403.2M
$354.2M
Advance payments from customers
$115.5M
$143.6M
Income taxes payable
$7.7M
$22.1M
Accrued liabilities
$105.4M
$122.4M
Total current liabilities
$635.6M
$649.1M
Long-term debt, net of current installments
$206.8M
$250.5M
Operating lease liabilities
$98.7M
$109.0M
Other long-term liabilities
$23.3M
$17.6M
Deferred income taxes
$7.5M
$3.7M
Total liabilities
$971.9M
$1.0B
Preferred stock, $0.10 par value; 5,000 shares authorized, none issued
$0
$0
Common stock, $0.10 par value; 145,000 shares authorized; issued and outstanding - 35,669 and 35,992, respectively
$3.6M
$3.6M
Additional paid-in capital
$537.0M
$534.9M
Retained earnings
$568.2M
$587.3M
Accumulated other comprehensive loss
-$9.0M
-$21.2M
Total shareholders equity
$1.1B
$1.1B
Total liabilities and shareholders' equity
$2.1B
$2.1B
Allowance for doubtful accounts, accounts receivable
$438.0K
$241.0K
Preferred shares, par value
$0.10
$0.10
Preferred shares, shares authorized
5.0M shares
5.0M shares
Preferred shares, issued
0 shares
0 shares
Common stock, par value
$0.10
$0.10
Common stock, shares authorized
145.0M shares
145.0M shares
Common stock, issued
35.7M shares
36.0M shares
Common stock, outstanding
35.7M shares
36.0M shares
Cash from operations101112139$124.0M in 2025+33% since 2019Capital spending101112139$35.6M in 2025+9% since 2019Free cash flow101112139$88.4M in 2025+46% since 2019Dividends paid101112139$24.4M in 2025+5% since 2019Share buybacks101112139$26.8M in 2025−78% since 2019
Dividends paid1415$6.1M in Q2 FY2026+1% since Q1 FY2026
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net income
$24.9M
$61.1M
$68.9M
Depreciation
$37.4M
$35.9M
$34.4M
Amortization
$10.2M
$10.2M
$11.0M
Stock-based compensation expense
$17.2M
$13.4M
$15.3M
Provision for doubtful accounts
$298.0K
$671.0K
$1.3M
Deferred income taxes
-$5.7M
-$3.8M
-$13.0M
Asset impairments
$11.1M
$0
$1.1M
Loss (gain) on the sale of property, plant and equipment
$36.0K
$0
-$101.0K
Gain on business divestiture
-$2.7M
$0
$0
Accounts receivable
$25.7M
$34.0M
$42.0M
Contract assets
-$15.3M
$7.4M
$8.6M
Inventories
$75.2M
$127.8M
$45.1M
Prepaid expenses and other assets
-$28.5M
-$8.2M
-$4.6M
Accounts payable
$32.4M
-$18.3M
-$35.3M
Advance payments from customers
-$28.1M
-$61.3M
$6.9M
Accrued liabilities
-$13.3M
-$9.9M
-$13.1M
Operating leases
$1.9M
$131.0K
$2.4M
Income taxes
-$18.8M
-$28.0K
$3.3M
Net cash provided by operating activities
$124.0M
$189.2M
$174.3M
Additions to property, plant and equipment
-$35.6M
-$31.3M
-$73.5M
Additions to capitalized purchased software
-$2.9M
-$1.9M
-$4.3M
Cash received from business divestiture
$5.1M
$0
$0
Proceeds from the disposal of property, plant and equipment
$791.0K
$2.0M
$649.0K
Other, net
-$1.0K
-$1.5M
-$48.0K
Net cash used in investing activities
-$32.7M
-$32.8M
-$77.1M
Borrowings under credit agreement
$891.1M
$600.0M
$749.5M
Principal payments on credit agreement
-$936.0M
-$674.1M
-$743.6M
Dividends paid
-$24.4M
-$23.9M
-$23.5M
Employee taxes paid with shares withheld
-$7.2M
-$6.3M
-$5.8M
Proceeds from stock options exercised
$4.0K
$482.0K
$129.0K
Debt issuance costs
-$2.3M
$0
-$216.0K
Principal payments on finance leases
-$174.0K
-$181.0K
-$173.0K
Share repurchases
-$26.8M
-$5.1M
$0
Net cash used in financing activities
-$105.9M
-$109.1M
-$23.6M
Effect of exchange rate changes on cash, cash equivalents and restricted cash
$9.0M
-$2.5M
$2.2M
Net (decrease) increase in cash, cash equivalents and restricted cash
Benchmark Electronics sits at the top of its group. 33 entities, 10 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Benchmark Electronics Tijuana S. de R.L. de C.V. Subsidiary · Mexico
Benchmark EMS Phoenix, Inc. Subsidiary · United States
Benchmark Engineering Services & IOT Solutions, Inc. Subsidiary · United States
EFTC Operating Corp. Subsidiary · United States
and 7 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Benchmark Electronics reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our customers market numerous products throughout the world and therefore need to access manufacturing services on a global basis. To enhance our service offerings, we seek to locate our facilities either near our customers and our customers’ end markets in major centers for the electronics industry or, where appropriate, in lower cost locations.
A summary of the approximate square footage of each of our principal manufacturing facilities by country follows:
The rest of Item 2
Square
(in thousands) · Footage
Americas:
United States:
Alabama · 200
Arizona · 234
California · 142
Minnesota · 497
New Hampshire · 161
Texas · 45
Mexico · 517
Asia:
China · 326
Malaysia · 436
Thailand · 661
Europe:
Netherlands · 168
Romania · 222
Total square footage · 3,609
Our principal manufacturing facilities consist of 1.8 million square feet in facilities that we own, with the remaining 1.8 million square feet in leased facilities the terms of which expire between 2025 and 2036. We currently lease our corporate headquarters in Tempe, Arizona. This lease consists of approximately 64,000 square feet. We lease other facilities with a total of 23,700 square feet dedicated to engineering, sales and procurement services. We believe our facilities are suitable for their intended uses and are sufficient to meet our expected needs for the foreseeable future.
Benchmark Electronics was founded in 1979 in Clute, Texas, as a manufacturing subsidiary of medical device company Intermedics. In 1986, the company became independent following its acquisition by Electronics Investors Corporation. Benchmark completed its initial public offering in 1990 and transferred its listing to the New York Stock Exchange in 1997. In 2019, the company relocated its global headquarters to Tempe, Arizona. In 2025, David Moezidis was appointed President and Chief Executive Officer.
Benchmark provides engineering, design, manufacturing, testing, and supply chain services for original equipment manufacturers in the aerospace and defense, medical, industrial, semiconductor capital equipment, advanced computing, and communications industries.
Production bases and facilities
Benchmark Electronics operates manufacturing and engineering facilities throughout North America, Europe, and Asia.
Jul 30, 2025Reported quarterly or annual results80
Apr 29, 2025Reported quarterly or annual results81
Jan 29, 2025Reported quarterly or annual results82
Oct 30, 2024Reported quarterly or annual results83
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
372 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 68 major events, 207 insider forms, 31 large holders, 45 other. The latest 20:
35 open-market trades by officers, directors and large owners since October 2021: 2 buys and 33 sales. Grants, option exercises and gifts are left out.
BlackRockSCHEDULE 13G/A, 6 filings Jan 25, 2022 to Apr 28, 202592
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Benchmark Electronics is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Feb 24, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Benchmark Electronics names in Item 1A of its 10-K filed Feb 24, 2026: 35 risks under these headings, as written.17
Shortages or price increases of components specified by our customers have in the past delayed, and could continue to delay, shipments, which may adversely affect our profitability.
We are dependent on the success of our customers and the markets in which they operate. When our customers or the markets in which they operate experience declines or grow at a significantly slower pace than anticipated, we may be adversely affected.
The loss of a major customer would adversely affect us.
Most of our customers do not commit to long-term production schedules, which makes it difficult for us to schedule production and achieve maximum efficiency of our manufacturing capacity.
Winning business is subject to lengthy, competitive bid selection processes that often require us to incur significant expense, from which we may ultimately generate no revenue.
Our customers may cancel their orders, change production quantities, delay production or change their sourcing strategies.
We may encounter significant delays or defaults in payments owed to us by customers for products we have manufactured or components we have produced that are unique to particular customers.
Our international operations are subject to certain risks.
Start-up costs and inefficiencies related to new or transferred programs can adversely affect our operating results and such costs may not be recoverable if the new programs or transferred programs are cancelled.
Our financial results depend, in part, on our ability to perform on our U.S. government contracts, which are subject to uncertain levels of funding, timing and termination.
Our business may be adversely impacted by climate change or natural or manmade disasters.
We bear the risk of uninsured losses.
The other 23 risks
Energy price increases may negatively impact our results of operations.
Customer relationships with start-up or emerging companies may present more risks than with established companies.
We face risks arising from the restructuring of our operations.
We operate in a highly competitive industry; if we are not able to compete effectively in the EMS industry, our business could be adversely affected.
We may be affected by consolidation in the electronics industry, which could create increased pricing and competitive pressures on our business.
Government contracts are subject to significant regulation, including rules related to bidding, billing, kickbacks and false claims, and any non-compliance could subject us to fines and penalties or debarment.
Regulatory, legislative or self-regulatory/standard developments regarding privacy and data security matters could adversely affect our ability to conduct our business.
Unanticipated changes in our tax position, the adoption of new tax legislation, potential tax disputes or further developments affecting our deferred tax assets could adversely affect our financial results.
Any litigation, even where a claim is without merit, could result in substantial costs and diversion of resources.
Compliance or the failure to comply with environmental and climate change regulations could cause us significant expense.
If our manufacturing processes and services do not comply with applicable regulatory requirements, or if we manufacture products containing design or manufacturing defects, demand for our services may decline and we may be subject to liability claims.
If we are unable to maintain our technological and manufacturing process expertise, our business could be adversely affected.
Our operations are subject to cyberattacks that could have a material adverse effect on our business.
Any delay in the upgrade of our information systems could disrupt our operations and cause unanticipated increases in our costs.
Our level of indebtedness may limit our flexibility in operating our business and reacting to changes in our business or industry, or prevent us from making payments on our debt or obtaining additional financing.
We are exposed to intangible asset risk; our goodwill may become impaired.
We may be exposed to interest rate fluctuations.
We may experience fluctuations in quarterly results.
Provisions in our governing documents and state law may make it harder for others to obtain control of the Company.
We are exposed to general economic and market conditions that could have a material adverse impact on our business, operating results and financial condition.
The acquisition, integration and operation of acquired businesses may disrupt our business and create additional expenses, and we may not achieve the anticipated benefits of the acquisitions.
Our success will continue to depend to a significant extent on our workforce and our key personnel.
Our business or stock price could be negatively affected by the actions of activist shareholders or others.
Legal proceedings
We are involved in various legal actions arising in the ordinary course of business. Information about our legal proceedings is included in Note 15 to the consolidated financial statements in Part II, Item 8 of this Report and is incorporated by reference herein. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on our consolidated financial position or results of operations.
