LFUS Nasdaq Russell 1000 Earnings call
Littelfuse (LFUS) · Q2 2026 results and valuation
Share price: $397.70 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 29 Jul 2026 and 6 May 2026
Net income up 19.0% on the previous quarter. Management sounded very upbeat, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+19.0%
Net income vs Q1 2026
Outlook given
Net income 89.4M vs 75.1M
Revenue +12.5%
Against the same quarter last year (Q2 2025) it is +55.9%, so it is not just seasonal.
2 · How management spoke
Very upbeat
More upbeat than 95% of company calls
Answers to analysts: very upbeat, in line with the script.
Similar to last call.
3 · What stood out
Littelfuse expects the Basler acquisition to contribute approximately $135 million to $140 million to 2026 revenue, which is above the prior outlook.
Valuation
Is Littelfuse undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-27), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −1.7% growth a year (3-year revenue growth), the model's fair value is $140.26 a share — the stock trades 184% above it. Today's price assumes 12.2% growth a year.
Current price
$397.70
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+12.2% for 10 yrs
Fair value / share
$140.26
Buy below
$105.19
Price vs fair value
Overvalued 184%
Price vs buy-below price
Overvalued >200%
Management expects
Growth +1% · from the Q2 2026 report: “The company expects 21% organic growth, with a 6% contribution from the Basler acquisition and a 1% FX headwind.”
A guidance figure for growth, usually one year ahead, not a 10-year free-cash-flow rate.
Read between the lines
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Guidance
Basler is now expected to contribute $135 million to $140 million to 2026 revenue, above the prior outlook.
Source quote
“As a result, we now expect Basler to contribute approximately $135 million to $140 million of revenue in 2026, above our prior outlook.”
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Guidance
The company expects 21% organic growth, with a 6% contribution from the Basler acquisition and a 1% FX headwind.
Source quote
“We expect 21% organic growth, a contribution of 6% to growth from the Basler acquisition and a 1% FX headwind.”
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Figure
Net sales reached $739 million, up 20% year-over-year and 14% over the previous quarter, exceeding company expectations.
Source quote
“We delivered sales and adjusted earnings above our expectations with net sales of $739 million, up 20% year-over-year and 14%...”
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Fading
Net sales were $657 million, up 19% year over year, 9% organically, and Littelfuse delivered meaningful margin expansion across its segments.
Source quote
“Net sales were $657 million, up 19% year over year, 9% organically, and we delivered meaningful margin expansion across our segments. We delivered a strong start to the year, with first quarter results exceeding our expectations. Our teams executed well as we capitalized on broad-based demand strength across several key markets.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“Overall, our second quarter performance reinforces the strength of our end market diversity and technology portfolio as well as the benefits of our sharpened focus on high-growth opportunities and operational...”
“Passive products again delivered strong growth, while semiconductor products benefited from continued protection strength and improved power semiconductor demand.”
“Supporting this through the first half of the year, design wins were up double digits across each of our markets, reflecting improved conversion of our expanding new business opportunity pipeline.”
Full figures
USD · ROIC.AI fundamentals (NASDAQ:LFUS, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-28 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 738.8M | 657.0M | +12.5% | 613.4M | +20.4% |
| Gross profit | 306.1M | 254.1M | +20.4% | 232.1M | +31.9% |
| Operating income | 139.7M | 101.2M | +38.1% | 92.8M | +50.6% |
| Net income | 89.4M | 75.1M | +19.0% | 57.3M | +55.9% |
| EPS | 3.53 | 2.96 | +19.4% | 2.30 | +53.6% |
| P/E | — | 12-mo loss | — | 52.5 | — |
Topics
Most discussed now
- Data center was a strong growth driver of that.
- Littelfuse also delivered meaningful earnings growth as its teams executed well while leveraging continued demand momentum across several…
- Its results reflect continued progress against the priorities Littelfuse shared with investors.
- In the quarter, operating cash flow was $146 million, while free cash flow grew to $127 million, up 75% year-over-year.
- Passive products again delivered strong growth, while semiconductor products benefited from continued protection strength and improved…
Faded since Q1 2026
- Fading Littelfuse continues to benefit from its leadership position in safe and efficient electrical energy transfer as its markets and…
- Fading Littelfuse generated solid cash flow in the quarter.
Latest announcements
Official filings, newest first.
- Regulation FD disclosure · SEC 8-K
- Director or officer change · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Regulation FD disclosure · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Director or officer change; Shareholder vote results · SEC 8-K
- Material agreement; New financial obligation · SEC 8-K