LITTELFUSE INC /DE (LFUS)

Littelfuse, Inc. is a diversified industrial technology manufacturer, founded in 1927 and incorporated in Delaware in 1991. It supplies passive electronics and circuit protection components, complemented by power semiconductor capabilities, to support safer, more connected and more sustainable applications. The company has about 17,000 associates across more than 20 countries. Its engineers are often embedded in customers' R&D to design in products for systems moving toward higher power and energy density. Priority growth markets include data centers, aerospace and defense, battery energy storage, and grid and utility infrastructure. In fiscal 2025 it had net sales of $2,386.3 million.

The company reports three segments. Electronics ($1,345.5 million in 2025) offers fuses, PTC resettable fuses, electromechanical switches and interconnects, ESD suppressors, varistors, reed switch magnetic sensing, gas discharge tubes, and semiconductors such as TVS diodes, thyristors, silicon and silicon carbide MOSFETs, diodes and IGBTs. Transportation ($676.4 million) provides circuit protection, power control and sensing for passenger vehicles (blade fuses, battery cable protectors, high-voltage fuses, sensors) and commercial vehicles (fuses, switches, circuit breakers, relays, power distribution modules). Industrial ($364.4 million) includes industrial fuses, protection and monitoring relays, residual current devices, ground fault and arc fault protection, contactors, transformers and temperature sensors. Recent acquisitions include Basler Electric (December 2025, for $350.3 million net of cash, in the Industrial segment), the Dortmund, Germany 200mm wafer fab (December 2024), Western Automation, C&K Switches, Embed, Carling Technologies and Hartland Controls.

Customers include OEMs, Tier One automotive suppliers, aftermarket channels, electrical contractors, factories, municipalities and utilities, across industrial, transportation, data center, building controls, appliance, healthcare, renewable energy and other end markets. The company sells directly to over 4,000 customers and distributors, and also through distributors and manufacturers' representatives. Electronics products are fulfilled mainly through distributors such as Arrow Electronics, Future Electronics, TTI, Digi-Key and Mouser. Arrow accounted for 9.5% of 2025 net sales. By region, 2025 sales were $947.9 million in the Americas, $906.5 million in Asia-Pacific and $531.9 million in Europe. About 65% of sales were to customers outside the U.S., including about 24% to China. In 2025 it reorganized into three market-facing sales organizations.

Littelfuse manufactures in China, France, Germany, India, Ireland, Italy, Japan, Lithuania, Mexico, the Philippines, the U.K., the U.S. and Vietnam, located in-region with customers and suppliers. It performs most of its own fabrication, including metal stamping, surface mount assembly, plating, thermoplastic molding and some semiconductor wafer fabrication, and also uses external foundries and subcontracted test and assembly for part of its semiconductor business. Principal raw materials include copper and copper alloys, resins and plastics, zinc, silver, gold, silicon and glass. The company prequalifies suppliers and second sources. R&D spending was $106.9 million in 2025, with facilities in numerous countries. It protects its intellectual property with patents, trademarks, licenses and nondisclosure agreements. The text does not name competitors or the headquarters location.