Benchmark Electronics Inc. research snapshot
BHE AI stock analysis currently reads Benchmark Electronics as a small-cap electronics manufacturing services (EMS) provider whose AI-driven growth story is now showing up in reported results. The analysis does not treat BHE as a precise price prediction. At an August 3, 2026 close of $80.96 and a market value near $2.91 billion, the stock trades at a trailing GAAP P/E of about 55x because current earnings still lag the strong forward outlook. The bull case now rests on a concrete base: Q2 2026 revenue grew 18% year over year to $756 million, non-GAAP EPS grew 36% to $0.75, AC&C revenue rose 71% on AI program ramps, and management raised the 2026 revenue outlook to approximately $3 billion. The risk is that the shares still reflect years of continued execution, with forward P/E around 25x and a stock that is about 19% below its June all-time high of $100.41.
Current price
$80.96
Market cap
$2.91 billion
AI score
64 / 100
Rating
Confirmed growth inflection with a valuation that still prices in execution
Trend status
Uptrend intact above the 200-day average but price is below the 50-day average
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Benchmark is a mid-tier EMS provider serving aerospace and defense, medical, industrial, semiconductor capital equipment, and advanced computing end markets. Q2 2026 delivered 18% revenue growth and a non-GAAP operating margin of 5.2%, an improvement, though GAAP net margin remains thin at around 1.9%. | Medium |
| Moat | The moat is narrow. EMS is a competitive industry where customers can move programs between vendors. Benchmark differentiates through design and engineering services, precision metal operations, and long-term relationships, and Q2 showed a competitive takeaway in Industrial, but scale still trails Foxconn, Flex, and Jabil. | Low-medium |
| Management | CEO David Moezidis took over on March 31, 2026, succeeding retiring CEO Jeff Benck, and has delivered two straight above-guidance quarters including a raised full-year outlook. CFO Bryan Schumaker has driven the cash conversion cycle from around 90 days to 59 days. The new CEO team is early, so key-person and transition risk remain moderate. | Medium |
| Financial trend | The financial trend turned up in 2026. Q2 revenue grew 18% year over year to $756 million with broad double-digit growth in four of five sectors. TTM revenue is about $2.82 billion and TTM net income is about $53 million. The company ended Q2 with roughly $315 million in cash and net cash of about $134 million, with $127 million in TTM free cash flow. | Medium-high |
| Valuation | At roughly 55x trailing GAAP EPS, about 25x forward EPS, 1.03x sales, and 2.6x book value, BHE trades at a premium that reflects expected earnings growth. EV/EBITDA near 20x is elevated for the EMS industry, but the growth rate and raised guidance justify part of the premium. | Medium |
| Technical trend | BHE is in a longer-term uptrend above its 200-day moving average near $62.54, but it sits below its 50-day average near $85.80 after pulling back roughly 19% from the June all-time high of $100.41. RSI near 47.6 is neutral, giving the stock room in either direction. | Medium |
| Risk level | Major risks are stretched supply chain lead times (in some cases up to 12 months), customer concentration, EMS cyclicality, thin profit margins, A&D program timing, and a stock price that already reflects strong execution. Component shortages in memory and complex parts could limit the ramp. | Medium |
| AI confidence | Medium-high for reported Q2 results, which are confirmed across multiple sources. Medium for forward estimates, because EPS depends on the pace of AI program ramps, Semi-Cap recovery, and margin expansion that are not yet fully visible in trailing GAAP earnings. | Medium data confidence |
| Investment certainty | Low-medium at the current price. The thesis is stronger than it was earlier in 2026 because growth is now confirmed in reported results and guidance. But the stock has already priced in a large part of the improvement, so the margin of safety is thin. | Low-medium |
BHE AI stock forecast
The BHE AI stock forecast should be read as scenario math, not a promise. Using a forward earnings base of about $2.94 per share for 2026, an August 3, 2026 close near $80.96, and a three-year framework, the tested range spans a bearish area near $47, a base area near $81, and a bullish area near $107, which shows why the stock now depends on both earnings growth and the valuation multiple holding up.
$95 to $115
More likely if AI program ramps in AC&C keep compounding, the next HPC opportunity adds revenue in late 2026 and 2027, Semi-Cap growth accelerates in the second half, A&D returns to growth in 2027, and the market keeps the forward P/E near 22-25x as margins expand toward management targets.
$70 to $90
More likely if Benchmark executes on the raised 2026 outlook of about $3 billion in revenue, grows EPS at 1.5-2x the pace of revenue as guided, holds non-GAAP operating margin near 5.3-5.5%, and the valuation multiple settles at roughly 20-22x forward earnings.
$40 to $58
More likely if component shortages and stretched lead times slow the ramp, an AI program is delayed or lost, A&D weakness extends beyond the planned transition, margins stay compressed, and the elevated multiple contracts toward a normal EMS range of 12-16x forward earnings.
BHE AI technical analysis
BHE AI technical analysis shows a strong uptrend that has paused after peaking at $100.41 in late June 2026. As of the August 4, 2026 data cutoff, the latest full-session close was $80.96 on August 3. BHE remains above its 200-day moving average near $62.54 but below its 50-day average near $85.80, and RSI near 47.6 is neutral.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $80.96 | The August 3, 2026 close was $80.96, up 1.49% on the day, after the stock corrected from its June all-time high near $100.41. |
| Near support | $76 to $78 | The August 3 session low area around $76.53 and prior consolidation. A close below this range would signal short-term weakness. |
| Deeper support | $62 to $66 | The 200-day moving average zone near $62.54. This is the main long-term uptrend marker and the prior breakout region from early 2026. |
| Near resistance | $85 to $88 | The 50-day moving average near $85.80 and the early August gap area. A reclaim of this zone would improve the short-term picture. |
| Key resistance | $92 to $96 | The area between recent swing highs and the analyst target range. A break above this zone would set up a retest of the all-time high. |
| All-time high | $100.41 | The all-time high set on June 30, 2026. A decisive breakout above this level would confirm the next leg higher. |
| 50-day SMA | $85.80 | StockAnalysis reported the 50-day moving average near $85.80, above the current price, meaning the short-term trend is not yet fully bullish. |
| 200-day SMA | $62.54 | The 200-day moving average near $62.54 is well below the price, confirming the longer-term uptrend remains intact. |
| Momentum | RSI 47.6 | RSI near 47.6 is neutral, down from overbought levels reached during the June peak, so the stock is not clearly stretched in either direction. |
| Volume | 449,000 shares (20-day average) | Average 20-day volume is about 449,000 shares. Volume on the August 3 bounce was moderate, with no sign of a volume-driven breakout. |
| Invalidation | Close below $62 | A decisive close below the 200-day moving average zone near $62 would shift the long-term trend from bullish to neutral or bearish. |
BHE AI trading strategy
The BHE AI trading strategy below is a research framework, not personal advice. It combines business momentum with price confirmation, valuation awareness, and explicit invalidation levels.
Watch for BHE to reclaim the $85 to $88 resistance zone on rising volume and rebuild above the 50-day moving average near $85.80. The longer-term trend is intact as long as price holds above the 200-day average near $62.54.
Define risk before entry. If BHE breaks below the 200-day moving average near $62, the long-term uptrend is damaged. Tighter traders can treat a loss of the $76 to $78 support as a short-term warning.
If BHE pulls back toward the $62 to $66 support zone while the raised 2026 outlook, AI program ramps, and sector momentum remain intact, evaluate whether the pullback is a normal correction or a change in the thesis.
Avoid buying the dip without checking earnings momentum and program updates. A break below $62 shifts the dip from a normal correction to trend damage, and the high P/E means fundamental news can move the stock sharply.
Track quarterly revenue and EPS against the raised $3 billion outlook, AC&C AI program ramp milestones, the HPC opportunity in late 2026 and 2027, Semi-Cap order flow, A&D bookings versus the flat 2026 expectation, component lead times, and insider trading patterns.
Do not let the strong year-to-date price performance replace position sizing discipline. Scenario ranges can shift quickly after earnings, program announcements, or broad market moves.
Investment research summary
Benchmark Electronics provides design, engineering, and manufacturing services to OEMs in aerospace and defense, medical, industrial, semiconductor capital equipment, and advanced computing markets. Customers pay for reliable, high-quality electronics assembly, supply chain management, and engineering support across the product life cycle.
The moat is narrow. EMS companies compete on cost, quality, and engineering support. Benchmark differentiates through its design services, precision metal operations, and long-standing customer relationships, and it is winning share in some programs. But customers can still move programs to larger competitors like Flex, Jabil, or Sanmina.
The thesis fails if component shortages and 12-month lead times slow the AI ramp, an AI program is delayed or lost to a larger competitor, A&D declines extend beyond the planned transition year, margins fail to expand, or the high valuation multiple compresses while earnings growth falls short of the raised guidance.
CEO David Moezidis, who took over on March 31, 2026 after Jeff Benck retired, has delivered two quarters above guidance and raised the 2026 revenue outlook to about $3 billion. CFO Bryan Schumaker has cut the cash conversion cycle to 59 days. The new leadership team is early in its tenure, so execution track record is still building.
Benchmark benefits from secular trends in AI infrastructure buildout, semiconductor capital equipment recovery, electronics manufacturing reshoring, defense electronics spending, and medical technology. AC&C grew 71% in Q2 on AI-related programs, and management expects additional HPC opportunities in late 2026 and 2027.
At roughly 55x trailing GAAP EPS, about 25x forward EPS, and 1.03x sales, BHE is priced for a significant earnings recovery that is now partially visible in Q2 results and the raised guidance. Margin of safety is still thin at the current price, and the risk-reward is better suited for monitoring with clear invalidation levels than for aggressive entry.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| BHE price | $80.96 at the August 3, 2026 close | StockAnalysis BHE quote | August 4, 2026 |
| Market capitalization | $2.91 billion, verified from $80.96 x 35.92 million shares using financial_rigor.py | StockAnalysis quote and financial_rigor.py | August 4, 2026 |
| Shares outstanding | 35.92 million shares | StockAnalysis BHE statistics | August 4, 2026 |
| Q2 2026 revenue | $756 million, up 18% year over year, above the high end of guidance | Benchmark Electronics Q2 2026 press release and earnings call | August 4, 2026 |
| Q2 2026 earnings per share | GAAP diluted EPS $0.55; non-GAAP diluted EPS $0.75, up 36% year over year | Benchmark Electronics Q2 2026 earnings release | August 4, 2026 |
| 2026 revenue outlook | Raised to approximately $3 billion, up about 13%, a company record | Benchmark Electronics Q2 2026 earnings call | August 4, 2026 |
| Q2 2026 segment growth | AC&C +71% year over year, Medical +22%, Semi-Cap +17%, Industrial +13%, A&D -12% | Benchmark Electronics Q2 2026 earnings call | August 4, 2026 |
| Revenue (TTM) | About $2.82 billion (consensus from StockAnalysis) | StockAnalysis BHE financials | August 4, 2026 |
| Net income (TTM) | About $53.14 million (consensus from StockAnalysis; Yahoo lags at $34.23 million) | StockAnalysis BHE financials and Yahoo Finance | August 4, 2026 |
| TTM EPS and valuation | TTM GAAP EPS about $1.46, trailing P/E about 55x, forward P/E about 25x, price to sales 1.03x, price to book 2.6x | StockAnalysis and financial_rigor.py | August 4, 2026 |
| Cash, debt, and free cash flow | Cash about $315 million, net cash about $134 million, TTM free cash flow about $127 million | Benchmark Electronics Q2 2026 earnings call and StockAnalysis | August 4, 2026 |
| Dividend yield | 0.84% annualized ($0.68 per share annually, $0.17 quarterly) | StockAnalysis BHE statistics | August 4, 2026 |
| 52-week range | $35.91 to $100.41 | StockAnalysis BHE overview | August 4, 2026 |
| Analyst consensus | Buy rating, average price target $86, with Needham at $90 and Lake Street at $92 | StockAnalysis BHE forecast | August 4, 2026 |
| CEO and leadership | CEO David Moezidis since March 31, 2026; CFO Bryan Schumaker; founded 1979, HQ in Tempe, AZ | Benchmark Electronics Q2 2026 earnings call and company profile | August 4, 2026 |
This BHE AI stock analysis is an informational research tool only. It is not investment advice, a recommendation, or a guarantee of future returns. Forecast ranges are scenarios based on available data as of August 4, 2026 and can be wrong if earnings, valuation multiples, market conditions, program wins or losses, or industry dynamics change.
Design trading strategies visually with 10+ indicators. Set entry/exit conditions and risk management, then generate Pine Script code with no coding required.
Filter and discover stocks based on market cap, dividend yield, P/E ratio, sector, and more. Screen thousands of stocks with real-time data.
Smart AI-driven stock selection with fundamental screening, analyst estimates, and key metrics. Filter by P/E, market cap, dividends, and more.
