Benchmark Electronics, Inc. (BHE) Stock

Benchmark Electronics, Inc. (BHE) is a Technology stock trading at $73.38 (as of 2026-08-20), with a market capitalization of $2.64B and a trailing P/E of 49.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Benchmark Electronics, Inc. provides engineering services, technology solutions, and manufacturing and testing services. Its offerings include product design and engineering, custom testing and technology solutions, automation equipment services, electronics manufacturing and testing (such as PCB assembly and reliability testing), and subsystem/system integration for customers in the Americas, Asia, and Europe.

Understand Benchmark Electronics, Inc.: how it makes money

Benchmark Electronics provides product design and engineering services, technology solutions, and electronics manufacturing and testing (including printed circuit board assembly and test solutions) for customers, earning revenue by delivering customized engineering work and manufacturing output across multiple end markets.

Results depend on how much durable revenue comes from engineering and manufacturing execution, which is why management highlights performance using Revenue Excluding Supply Chain Premiums (supply chain premiums can affect reported revenue without necessarily reflecting core operating work).

Revenue by segment (latest quarter)
SemiCap	$0.2B
ACDC	$0.2B
Ind	$0.1B
Med	$0.1B
A&D	$0.1B

Business quality (Weak): Thinner margins (gross margin 10.2%, operating margin 3.2%) suggest the company must consistently control costs and execution quality to convert its service and manufacturing activity into operating profit.

Valuation: At 96× earnings, BHE trades 86% above the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

Diverse service and delivery scope: The company provides both engineering services and technology solutions (such as new product design, prototype, and testing) and electronics manufacturing and testing services (such as printed circuit board assembly and test solutions).
Multiple end-market revenue lines: Reported revenue is broken out across categories including Semi-Cap, Advanced Computing and Communications, Industrial, Medical, and Aerospace and Defense.

Bear case

Limited operating cushion: With operating margin at 3.2%, small execution, cost, or mix changes could have an outsized impact on operating profit.
Supply chain premiums can obscure core trends: The presence of a KPI for Revenue Excluding Supply Chain Premiums implies supply chain premiums may affect reported results, making it more important to monitor underlying revenue.

Valuation — source: SEC EDGAR (first-party)
Price	$73.38
Market Cap	$2.64B
P/E Ratio	49.6
EV / EBITDA	19.0
Price / Book	2.36
Price / Sales	0.94
FCF Yield	2.7%
DCF Value (model)	$14.96
DCF Upside vs Price	-79.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.66B
Net Margin	0.9%
Revenue Growth (YoY)	17.7%
EPS Growth (YoY)	1733.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.88 (safe)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	49.6
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4
vs Sector	46.2%
vs Industry	25.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($316.33M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Jeffrey W. Benck
Employees	11,700
Country	US
IPO Date	1990-06-27

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.