What it does
Amphenol states that it designs, manufactures and markets electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products, and coaxial, high-speed, fiber optic and specialty cable. Its three reportable segments are Communications Solutions, Harsh Environment Solutions, and Interconnect and Sensor Systems. The filing lists automotive, commercial aerospace, communications networks, defense, industrial, information technology and data communications, and mobile devices as end markets served across the segments. It describes the products as ranging from connectors and cable assemblies to antennas, printed circuits, power-distribution systems and sensors.
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
How it makes money
The company reports revenue through three segments, whose detailed results are shown in the segment table below. Communications Solutions was the largest segment in FY2025, with $12.2 billion of revenue and 52.0% of revenue. Harsh Environment Solutions reported $6.0 billion, representing 25.7%, while Interconnect and Sensor Systems reported $5.2 billion, representing 22.3%. The filing describes Communications Solutions as covering connector and interconnect systems, cable and antennas; Harsh Environment Solutions as including ruggedized interconnect products; and Interconnect and Sensor Systems as including sensors, sensor-based systems and value-add interconnect systems.
| Segment | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Communications Solutions | $12.2 billion | 52.0% | 90.7% |
| Harsh Environment Solutions | $6.0 billion | 25.7% | 33.1% |
| Interconnect and Sensor Systems | $5.2 billion | 22.3% | 15.6% |
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Customers and geography
The filing says the company sells to thousands of OEMs in numerous countries, as well as EMS companies, ODMs and service providers, including telecommunications network and web service providers. It states that no single customer accounted for 10% or more of net sales in 2025. By reported sales geography in FY2025, other foreign locations generated $11.4 billion, or 49.5% of revenue; the United States generated $8.0 billion, or 34.6%; and China generated $3.7 billion, or 15.9%. The company sells through its own global sales force, independent representatives and electronics distributors.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Other foreign locations | $11.4 billion | 49.5% | 74.6% |
| United States | $8.0 billion | 34.6% | 51.5% |
| China | $3.7 billion | 15.9% | 8.04% |
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Competition
The filing states that the company encounters competition in all areas of its business and competes on technology innovation, product quality and performance, price, customer service and delivery time. It names Aptiv, Belden, Corning, Foxconn Interconnect Technology, Glenair, HUBER+SUHNER, ICT Luxshare, Jonhon, Molex, Rosenberger, Sensata, TE Connectivity and Yazaki as primary competitors, among others. The filing also says the company competes with many smaller companies focused on particular geographies, markets or products.
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov
Key risks
The filing highlights risks related to global operations, end markets, acquisitions, liquidity and capital resources, and legal and regulatory matters. Among the risk factors it identifies are:
- Political, economic, military and other risks from operating outside the United States.
- Competition in all areas of the business.
- Difficulties and unanticipated expenses when purchasing and integrating acquired businesses.
- Requirements in credit agreements and senior notes that could have adverse effects if breached.
- Government contracting risks that could adversely affect business and financial results.
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1A — sec.gov
People and operations
As of December 31, 2025, the company had approximately 170,000 employees worldwide, including approximately 15,000 in the United States. The filing says it had more than 140 general managers running independent businesses, and that its research, development and engineering efforts were supported by approximately 6,400 employees at year-end. It designs, manufactures and assembles products at facilities in approximately 40 countries. The company describes advanced manufacturing processes and says it uses outsourcing for certain processes when cost-effective. It generally does not experience significant seasonality, although its strongest quarters have historically been the last two fiscal quarters.
Source: Amphenol Corporation Form 10-K for fiscal 2025, Item 1 — sec.gov