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Amphenol Corporation

APH Technology Electronic Components

Amphenol Corporation’s revenue for fiscal 2025 (year ended December 2025) was $23.1 billion, up 51.7% from fiscal 2024.

Revenue
+65.1%
EPS
+60.8%
Free cash flow
+33.5%
Total debt
+121.5%

Quarter to September 2026, against a year earlier

72.53 6.48 −8.20%
Market cap
$176.9B
P/E
30.1×
Fwd P/E
29.6×
Dividend yield
1.38%
F-score
6/9
Altman Z
6.34
Beneish M
−2.39
Dividend safety
92/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Communications Solutions
  • Harsh Environment Solutions
  • Interconnect and Sensor Systems

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 1.29
Sold, $m 407.22
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell 2 — 3 — — 1 — 1 3 — — 1
Insider Ownership 0.29%

Capital & Financial Ratios $m

Size
Market Cap 176,900.00
Revenue ttm 33,046.90
Net income ttm 5,987.40
Free cash flow ttm 5,135.10
Net debt Q 12,569.40
Valuation
P/E 30.10
Forward P/E 29.60
Price / sales 5.41
Forward P/S Powerpack
Price / FCF 34.85
Price / book 10.37 (above 6: high)
Financial health
Current ratio Q 1.94 (at or above 1.5: strong)
Debt / equity Q 1.04
Interest coverage Q 14.23
Growth
Revenue growth Q +65.14% (above 0%: growing)
Operating income growth Q +77.45% (above 0%: growing)
EPS, this year +68.82% (at or above 15%: strong)
EPS, next year A +29.00% (at or above 15%: strong)
Revenue, next year A +58.57% (at or above 10%: strong)
EPS, past 5 yrs +27.85% (at or above 15%: strong)
EPS, next 5 yrs A +36.45% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.8×, against a ten-year median of 4.2×; over the ten years it ranged from 2.9× in 2016 to 8.4× in 2025.
P/E against its own 10 years 54.68%
10-year low 10-year high
P/S against its own 10 years 78.33%
10-year low 10-year high
P/B against its own 10 years 87.02%
10-year low 10-year high
EV/Sales against its own 10 years 79.79%
10-year low 10-year high
EV/FCF against its own 10 years 70.85%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.38%
Annual rate
1.00
Payout ratio
43.5%
Growth, 2017–25
+19.9%/yr
  1. 0.18 ’17
  2. 0.22 ’18 +26
  3. 0.24 ’19 +9
  4. 0.26 ’20 +8
  5. 0.32 ’21 +22
  6. 0.41 ’22 +28
  7. 0.43 ’23 +5
  8. 0.55 ’24 +29
  9. 0.75 ’25 +35
  10. 0.52 ’26e −30
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,660 3,335 11,434 5,301
Receivables 2,618 3,288 4,717 7,782
Inventory 2,167 2,546 3,425 5,265
Other — — — —
6,835 9,686 20,267 19,481
2023 2024 2025 Q'26
Payables 1,351 1,819 2,662 4,871
ST’ Debt 354 402 937 701
Other — — — —
3,153 4,084 6,803 10,038

Compound Annual Growth %

10y 5y 3y
Sales 15.29% 21.85% 22.31%
Cash Flow 17.96% 27.55% 35.20%
Earnings 18.79% 28.83% 30.94%
Book Value 15.20% 19.88% 24.04%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.73 Actual 0.80

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.47 0.49 Beat by 0.02
Q1 FY26 0.47 0.53 Beat by 0.06
Q2 FY26 0.60 0.68 Beat by 0.08
Q3 FY26 0.73 0.80 Beat by 0.07
Q4 FY26 0.80 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.36 0.69 0.79 — —
’25 0.29 0.43 0.49 0.47 1.67
’24 0.22 0.21 0.24 0.30 0.96
’23 0.18 0.19 0.21 0.21 0.78
’22 0.17 0.19 0.20 0.21 0.77
’21 0.13 0.15 0.17 0.19 0.64
’20 0.10 0.11 0.14 0.14 0.49
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 7,620 8,758 10,230 — —
’25 4,811 5,650 6,194 6,439 23,095
’24 3,256 3,610 4,039 4,318 15,223
’23 2,974 3,054 3,199 3,328 12,555
’22 2,952 3,137 3,295 3,239 12,623
’21 2,377 2,654 2,819 3,027 10,876
’20 1,862 1,988 2,323 2,426 8,599
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,122 1,557 2,079 — —
’25 765 1,417 1,471 1,722 5,375
’24 600 664 704 847 2,815
’23 532 536 618 842 2,529
’22 351 543 576 705 2,175
’21 321 388 361 471 1,540
’20 384 368 399 441 1,592
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 831 1,206 1,623 — —
’25 580 1,121 1,216 1,476 4,393
’24 506 528 476 648 2,157
’23 436 442 544 739 2,160
’22 275 452 457 613 1,796
’21 244 284 271 386 1,183
’20 325 301 331 371 1,328
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 14.9% a year for ten years. It grew 15.9% a year over the last ten.

Implied
14.9%
10 years, reported
15.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 6,286 7,011 8,202 8,225 8,599 10,876 12,623 12,555 15,223 23,095 33,047 +15.6% 36,622 45,089 51,735 +30.8%
Gross margin, % 32.45 32.95 32.37 31.80 30.98 31.28 31.91 32.53 33.76 36.88 38.81 +4.4 pt
EBT 1,141 1,352 1,588 1,496 1,527 1,989 2,467 2,455 3,012 5,601 8,512 +19.3%
EBT margin, % 18.15 19.29 19.37 18.19 17.75 18.29 19.55 19.55 19.79 24.25 25.76 +6.1 pt
Net income 833 661 1,217 1,164 1,213 1,580 1,917 1,946 2,442 4,305 5,987 +20.0%
Per share, $
Per share, $ Revenue 2.55 2.87 3.40 3.46 3.61 4.55 5.29 5.26 6.32 9.48 13.39 +15.7%
Earnings 0.33 0.27 0.50 0.49 0.51 0.67 0.80 0.81 1.01 1.76 2.41 +20.3%
Cash flow 0.44 0.47 0.46 0.63 0.67 0.64 0.91 1.06 1.17 2.21 2.63 +19.7%
Capex (0.07) (0.09) (0.13) (0.12) (0.11) (0.15) (0.16) (0.15) (0.27) (0.40) (0.54) +20.6%
Free cash flow 0.36 0.38 0.34 0.51 0.56 0.49 0.75 0.91 0.90 1.80 2.08 +19.5%
Book value 1.51 1.65 1.69 1.93 2.29 2.66 2.97 3.52 4.09 5.54 7.00 +15.5%
Shares, m 2,466 2,446 2,410 2,380 2,384 2,392 2,385 2,386 2,408 2,436 2,456 (0.1%)
Valuation, ×
Valuation, × P/E 25.25 41.42 20.25 27.82 32.45 32.89 24.03 29.98 34.47 38.50 30.10 30.7
P/S 3.31 3.83 2.98 3.91 4.53 4.81 3.61 4.60 5.49 7.13 5.41 4.4
P/B 5.58 6.64 6.01 7.01 7.15 8.22 6.44 6.88 8.49 12.19 10.37 7.5
EV/Sales 3.60 4.09 3.25 4.24 4.78 5.14 3.86 4.81 5.73 7.30 5.80 4.7
EV/FCF 25.32 31.07 33.07 28.73 30.96 47.21 27.10 27.98 40.41 38.40 37.30 33.0
Cash, $m
Cash, $m Operating cash flow 1,078 1,144 1,113 1,502 1,592 1,540 2,175 2,529 2,815 5,375 6,479 +19.5%
Capex (184) (222) (306) (288) (264) (357) (378) (369) (658) (982) (1,344) +20.5%
Free cash flow 894 922 807 1,215 1,328 1,183 1,796 2,160 2,157 4,393 5,135 +19.4%
Balance, $m
Balance, $m Working capital 1,956 3,077 2,120 2,079 3,187 3,511 3,803 3,683 5,602 13,464 9,443 +23.9%
Net debt 1,838 1,789 2,279 2,698 2,128 3,559 3,144 2,677 3,551 4,068 12,569 +9.2%
Shareholders’ equity 3,723 4,043 4,064 4,596 5,452 6,360 7,074 8,396 9,847 13,500 17,263 +15.4%
Returns, %
Returns, % ROA 10.31 7.03 12.02 11.07 10.40 11.78 12.68 12.11 12.77 14.81 16.00 +4.5 pt
ROIC 13.55 15.30 16.62 13.87 13.51 13.26 15.82 14.45 14.73 20.88 19.19 +7.3 pt
ROE 23.51 16.75 29.73 26.67 23.95 26.94 28.32 24.93 26.57 36.58 39.73 +13.1 pt
People
People Employees 62,000 70,000 73,600 74,000 80,000 90,000 91,000 95,000 125,000 170,000 — +11.9%
Revenue/emp, $m 0.10 0.10 0.11 0.11 0.11 0.12 0.14 0.13 0.12 0.14 — +3.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Amphenol designs and makes the components that connect electronic equipment and carry power, data and signals. Its products include electrical and fiber-optic connectors, cable assemblies, antennas, sensors and specialty cables. A connector can link equipment or components inside it; a cable assembly combines cable with connections for a particular application.

The company sells to manufacturers and operators across several industries. Its products appear in data centers, servers and networking equipment; cars and electric vehicles; aircraft and defense systems; industrial machinery; communications networks; and mobile devices. Some products are designed for demanding conditions such as vibration, pressure and rapid temperature changes, while others are designed for high-speed data transmission or power distribution.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Communications Solutions 12,161 52.66%
Harsh Environment Solutions 6,002 25.99%
Interconnect and Sensor Systems 5,216 22.59%
Gross margin 36.88%
Operating margin 25.41%
Pre-tax margin 24.25%

Revenue by segment since 2016

Amphenol Corporation vs peers in Electronic Components (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
APH Amphenol Corporation $176.9B 30.1× 29.6× +65.14% (above 0%: growing) +60.78% (above 0%: growing) +33.50% (above 0%: growing) 39.26% 29.53%
GLW Corning Incorporated $89.1B 40.5× 43.9× +18.41% (above 0%: growing) +72.88% (above 0%: growing) +14.67% (above 0%: growing) 37.28% 18.76% Compare
TEL TE Connectivity Ltd. $59.3B 18.6× 19.1× +11.86% (above 0%: growing) +38.41% (above 0%: growing) +7.54% (above 0%: growing) 35.52% 20.58% Compare
FLEX Flex Ltd. $24.7B 24.3× 23.9× +24.79% (above 0%: growing) +34.62% (above 0%: growing) −14.43% (below 0%: shrinking) 9.56% 4.88% Compare
JBL Jabil, Inc. $24.3B 24.3× 18.0× +28.65% (above 0%: growing) +87.19% (above 0%: growing) +7.13% (above 0%: growing) 9.43% 5.67% Compare
FN Fabrinet $10.5B 22.2× 18.7× +50.74% (above 0%: growing) +7.68% (above 0%: growing) −340.60% (below 0%: shrinking) 11.79% 9.90% Compare
LFUS Littelfuse, Inc. $8.9B 259× 23.3× +22.75% (above 0%: growing) +62.22% (above 0%: growing) +57.67% (above 0%: growing) 41.55% 20.00% Compare
RAL Ralliant Corporation $7.0B — (loss-making) 31.4× +17.20% (above 0%: growing) +122.03% (above 0%: growing) −19.51% (below 0%: shrinking) 53.15% 18.95% Compare
TTMI TTM Technologies, Inc. $6.6B 24.7× 23.2× +59.93% (above 0%: growing) +56.86% (above 0%: growing) +75.69% (above 0%: growing) 24.24% 13.48% Compare
Median of peers $17.4B 24.3× 23.3× +23.77% +59.54% +7.34% 29.88% 16.12%

All 44 Electronic Components stocks →

From the latest earnings call

Updated

  • CFO Craig Lampo said higher sales volumes increased operating leverage, more than offsetting the effect of recent acquisitions on adjusted operating margin.
  • Lampo said he expects organic growth to support further margin expansion, while acquisitions typically operate at lower profitability than Amphenol.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Baird Oct 6, 2026 Target raised — 95.00 → 105.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 94.34%
Held by the ten largest 46.92%
Holder Shares Stake Change
Vanguard 128.83m 10.45% +562.49k
BlackRock 101.25m 8.21% −714.03k
Capital Group 76.34m 6.19% +11.65m
Fidelity (FMR) 70.57m 5.72% −8.91m
State Street 59.49m 4.83% +2.10m
JPMorgan Chase 39.20m 3.18% −10.07m
T. Rowe Price 32.01m 2.60% +5.17m
Geode Capital Management 31.07m 2.52% −227.13k
Morgan Stanley 20.58m 1.67% +3.07m
Norges Bank 19.19m 1.56% +19.19m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 8 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 22.35m 141.58m 432.58
2024 17.16m 63.40m 220.64
2023 10.94m 31.14m 156.17
2022 13.96m (15.65m) 118.78
2021 13.09m 51.01m 134.93

Ownership

Directors and executive officers, together 1.42%
The Vanguard Group 10.20%
BlackRock, Inc. 8.00%
FMR LLC. 7.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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APH metrics, ten years each

stockrow.com/APH · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com