LFUSLittelfuse, Inc.
Is the business good?
The checks split: earnings fully cash-backed (6.8×), but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is LFUS?
Littelfuse, Inc. earns 2.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 6.1 points below what the capital costs: growth destroys value
- Operating margin
- 3.6%
Operating margin · Electronic Components median 7.9% · 12 months to Q2 2026
- Cash conversion
- 6.79×
Cash conversion · 3.13× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +2.9%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 11% |
| FY2021 | 19% |
| FY2022 | 20% |
| FY2023 | 15% |
| FY2024 | 7.2% |
| FY2025 | 1.6% |
Details›
- Gross margin12 months to Q2 2026
- 39%
- Operating margin12 months to Q2 2026
- 3.6%
- Net margin12 months to Q2 2026
- −0.31%
- Free cash flow margin
- 17%
- R&D as % of revenue
- 4.4%
- Revenue, trailing twelve months
- $2.61B
- Free cash flow, trailing twelve months
- $444M
- Net income, trailing twelve months
- −$8.1M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 2.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from LFUS and who it buys from, as the companies report it.
- ARWArrow Electronics, Inc.9.5%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; LFUS’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Electronic Components
Ranks #20 of 25 by RyuScore