Group 1 - Trinity Capital Inc. (TRIN) is highlighted as one of the top three Business Development Companies (BDCs) alongside Kayne Anderson BDC, Inc. (KBDC) and Fidus Investment (FDUS) [1] Group 2 - Roberts Berzins has over a decade of experience in financial management, focusing on helping top-tier corporates with financial strategies and large-scale financings [2] - He has contributed to institutionalizing the REIT framework in Latvia to enhance the liquidity of pan-Baltic capital markets [2] - His policy-level work includes developing national SOE financing guidelines and frameworks for channeling private capital into affordable housing [2]

Core Viewpoint - Goldman Sachs BDC, Inc. reported its financial results for the fourth quarter and the year ended December 31, 2025, highlighting a net investment income per share of $0.37, which corresponds to an annualized net investment income yield of 11.7% on book value [1]. Financial Performance - For the quarter ended December 31, 2025, the net investment income per share was $0.37 [1]. - The annualized net investment income yield on book value was reported at 11.7% [1].

Core Viewpoint - The article presents a perspective that may conflict with the views of many BDC income investors, indicating a divergence in investment strategies and expectations [1]. Group 1: Analyst Background - Roberts Berzins has over a decade of experience in financial management, assisting top-tier corporates in shaping financial strategies and executing large-scale financings [2]. - He has contributed to institutionalizing the REIT framework in Latvia to enhance the liquidity of pan-Baltic capital markets [2]. - His policy-level work includes developing national SOE financing guidelines and frameworks for channeling private capital into affordable housing [2]. - Berzins holds a CFA Charter and an ESG investing certificate, and has interned at the Chicago Board of Trade [2]. Group 2: Disclosure Information - The analyst has no stock, option, or similar derivative positions in any mentioned companies and does not plan to initiate any such positions within the next 72 hours [3]. - The article expresses the analyst's own opinions and is not compensated for it, aside from Seeking Alpha [3]. - Seeking Alpha clarifies that past performance does not guarantee future results and does not provide specific investment recommendations [4].

Second and last chance for innovators to win scaling perks: Belden extends nomination window https://t.co/dHKRjYhDHc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K _________________________ (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-12561 BELDEN INC. (Exact name of registrant as specified in its charter) _________________________________ Del ...

Core Insights - The company's Q4 2025 financial report highlights growth in performance, profitability, and institutional expectations [1] Group 1: Performance Overview - Q4 2025 revenue reached $697 million, representing a year-over-year increase of 4.64%; earnings per share were $1.55, up 9.15% [2] - The organic growth of 10% in the automation solutions segment was the main driver of this performance [2] Group 2: Stock Performance - Prior to the earnings report (February 5 to 11), the stock price increased by 10.60%, peaking at $141.27, with a volatility of 15.31% [3] - On February 6, the stock surged by 6.10% with a trading volume of $72.19 million, indicating intensified short-term trading activity [3] Group 3: Institutional Perspectives - As of February 2026, 86% of institutions rated the stock as "buy" or "hold," with a target average price of $144.40, indicating potential upside from the current price of $141.27 [4] - Institutions forecast a 12.19% year-over-year increase in net profit for Q4, expressing long-term optimism about the transformation potential in industrial automation and physical AI solutions [4] Group 4: Financial Condition - As of Q3 2025, the company reported operating cash flow of $105 million and free cash flow of $65.325 million, with a debt-to-asset ratio of 63.86% and a current ratio of 1.99, indicating stable solvency [5]

Group 1 - Belden Inc. has reported its Q4 and full-year financial results, prompting a detailed analysis of its performance and future outlook [1] - The company is viewed as a long-term investment opportunity, with a focus on maintaining a balanced portfolio that includes growth, value, and dividend-paying stocks [1] Group 2 - The analysis emphasizes a preference for value investments, indicating a strategic approach to stock selection [1]

Core Viewpoint - Belden Inc. has reported its Q4 and full-year financial results, prompting an analysis of its performance and future outlook [1]. Financial Performance - The company has released its Q4 and full-year numbers, indicating a detailed examination of its financial health and operational metrics [1]. Investment Strategy - The investment approach focuses on a long-term horizon, typically between 5 to 10 years, emphasizing a balanced portfolio that includes growth, value, and dividend-paying stocks, with a particular inclination towards value investments [1].

Core Viewpoint - Baidong Company (BDC.N) reported a solid performance for Q4 2025, with revenue of $720.1 million, reflecting an 8.12% year-over-year growth, and earnings per share of $2.08, up 8.33% year-over-year [1] Stock Performance - On the day of the earnings report (February 12), Baidong Company's stock experienced significant volatility, opening at $147.12, reaching a high of $159.89, and closing at $156.38, marking a single-day increase of 9.95% with a trading volume of approximately $13.79 million. Over the past five trading days, the stock has accumulated a total increase of 18.72% [2] Institutional Insights - Market analysis indicates that the stock price movement was primarily driven by the earnings report data. Although the performance met growth expectations, the substantial single-day increase may reflect positive market sentiment and active short-term trading. Additionally, 80% of the institutions covering the company as of February 2026 have given "buy" or "hold" ratings, indicating an optimistic market sentiment [3]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported record revenue of $720 million, exceeding guidance, with adjusted EPS at a record $2.08, also surpassing expectations [4][5] - Full year 2025 revenue reached approximately $2.7 billion, a 10% increase year-over-year, with adjusted EPS of $7.54, reflecting a 19% increase [5][14] - Free cash flow for the year was $219 million, with 1.7 million shares repurchased for $195 million, reducing share count by over 11% since 2021 [5][21] Business Line Data and Key Metrics Changes - Automation Solutions revenue grew 14% year-over-year, with EBITDA increasing 16% and margins improving by 50 basis points to 21% [17][18] - Smart Infrastructure Solutions revenue increased by 7% year-over-year, with EBITDA rising 6%, although margins decreased by 10 basis points to 12.1% due to tariff impacts [18] Market Data and Key Metrics Changes - Orders for Q4 were up 12% year-over-year and 5% sequentially, indicating strong demand across the business [5][13] - The solutions wins as a percentage of total revenue crossed 15% for the year, marking a significant increase from the previous year [7][24] Company Strategy and Development Direction - The company is transitioning to a unified functional operating model effective January 1, 2026, to enhance customer focus and streamline operations [8][9] - The strategic realignment aims to maximize long-term growth and improve the delivery of integrated solutions [9][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term trajectory, citing strong demand in automation, particularly in energy and discrete manufacturing [29][45] - The company anticipates stabilization and rebound in broadband due to new fiber products and increased MSO capital deployments [19][38] Other Important Information - The company completed a successful debt refinancing, extending its overall debt maturity profile [22] - The balance sheet remains strong, with cash and cash equivalents at $390 million, and financial leverage at 1.9x net debt to EBITDA [20] Q&A Session Summary Question: Demand trends and outlook for 2026 - Management noted a 26% growth in the total solutions pipeline at the end of 2025, with strong demand in automation and hospitality sectors [29][30] Question: Supply chain concerns regarding metals and semiconductors - Management indicated confidence in managing supply chain risks and emphasized a shift towards regional manufacturing to mitigate risks [31][32] Question: Insights on broadband and overall business performance - Management highlighted a temporary slowdown in architectural upgrades but expects recovery and growth in fiber connectivity [37][38] Question: Organizational realignment impact on costs - The focus of the realignment is on enhancing customer-centricity rather than immediate cost reductions, although efficiencies are expected [49][50] Question: Impact of inflation on project spending - Management does not foresee significant impacts on demand due to inflation, noting that inflation may actually drive more customers towards automation [53][54] Question: Update on data center opportunities - Management reported positive developments in data center engagements, with significant demand and ongoing negotiations for expanded relationships [75][76]