A Business at a Glance
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AMPHENOL CORP /DE/
APH
$195.2B
Mkt Cap
$152.67
-3.02%
AMPHENOL CORP /DE/ (APH) has a current P/E ratio of 45.7, compared to its historical median P/E of 32.3. The stock is currently considered Expensive based on its historical valuation range.
AMPHENOL CORP /DE/ (APH) has a 5-year average return on invested capital (ROIC) of 21.5%. This indicates strong capital allocation and a potential competitive advantage.
AMPHENOL CORP /DE/ (APH) has a market capitalization of $196.9B. It is classified as a large-cap stock.
Yes, AMPHENOL CORP /DE/ (APH) pays a dividend with a trailing twelve-month yield of 0.46%. The company also returns capital through share buybacks, with a buyback yield of 0.34%.
Based on historical P/E analysis, AMPHENOL CORP /DE/ (APH) appears expensive. The current P/E of 45.7 is 41% above its historical median of 32.3. The estimated fair value CAGR (P/E method) is 17.1%.
AMPHENOL CORP /DE/ (APH) operates in the Electronic Connectors industry, within the Technology sector.
AMPHENOL CORP /DE/ (APH) reported annual revenue of $23.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Amphenol Corporation is one of the world's largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products, and coaxial, high-speed, fiber optic and specialty cable. The company operates through three reportable business segments—Communications Solutions (52% of 2025 net sales), Harsh Environment Solutions (26%), and Interconnect and Sensor Systems (22%)—serving diversified end markets including automotive, commercial aerospace, communications networks, defense, industrial, information technology and data communications, and mobile devices. Amphenol's business model combines high-technology product design and manufacturing with value-added cable assemblies, backplane systems, and sensor-based solutions, leveraging a global manufacturing footprint that includes low-cost facilities and advanced engineering capabilities. The company pursues broad market diversification and develops performance-enhancing solutions through close collaboration with customers at the design stage, positioning itself as a preferred supplier across multiple end markets and geographies. Amphenol's strategy emphasizes entrepreneurial management with clear accountability at the business unit level, continuous cost control and productivity improvement, and strategic acquisitions to expand product lines, technological capabilities and geographic presence—having invested approximately $3.8 billion in five acquisitions in 2025 and completing the CommScope acquisition for approximately $10.5 billion in January 2026, the largest in company history.
【Strong AI-driven momentum continuing】 Management expects continued robust demand across served markets, particularly in IT data communications driven by accelerating AI data center investments and enterprise cloud expansion. The company anticipates strong sequential sales growth in the second quarter of 2026 in the low teens range as AI-related demand accelerates, with defense and industrial markets expected to grow in the high single digits sequentially. CommScope, acquired in January 2026, is expected to deliver approximately $4.1 billion in full-year 2026 sales and contribute $0.15 to adjusted earnings per share, with management confident the business will improve performance as part of Amphenol and achieve margins closer to company averages over time. The company expects to maintain strong cash flow generation in 2026 with free cash flow conversion remaining within its typical range, and management remains confident in its ability to identify and execute acquisitions while successfully integrating them into Amphenol's entrepreneurial organization.
| Metric | Target | Period |
|---|---|---|
| CommScope full-year sales | $4.1 billion | FY2026 |
| CommScope adjusted EPS accretion | $0.15 | FY2026 |
CommScope full-year sales (FY2026): “we expect CommScope to generate full year 2026 sales of $4.1 billion”
CommScope adjusted EPS accretion (FY2026): “to add $0.15 to Amphenol's 2026 adjusted earnings per share”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Operating Segment | $10.43B | $5.73B | $4.96B | $6.38B | $12.16B | 22% |
Communications Solutions | — | $5.65B | $4.91B | $6.32B | $12.06B | 22% |
End customers and contract manufacturers | $8.67B | $4.47B | $3.95B | $4.96B | $9.55B | 18% |
Other foreign locations | $4.49B | $2.22B | $2.03B | $2.73B | $6.64B | 12% |
Harsh Environment Solutions | — | $3.11B | $3.53B | $4.42B | $5.88B | 11% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 25.9B | 23.1B | 15.2B | 12.6B | 12.6B | 10.9B |
| Net Income | 4.5B | 4.3B | 2.4B | 1.9B | 1.9B | 1.6B |
| EPS | $3.54 | $3.34 | $1.92 | $0.78 | $1.60 | $1.27 |
| Free Cash Flow | 4.6B | 4.4B | 2.1B | 2.2B | 1.8B | 1.2B |
| ROIC | 17.0% | 28.7% | 21.2% | 19.6% | 19.2% | 18.5% |
| Gross Margin | 37.3% | 36.9% | 33.8% | 32.5% | 31.9% | 31.3% |
| Debt/Equity | 1.34 | 1.20 | 0.74 | 0.48 | 0.67 | 0.93 |
| Dividends/Share | $0.71 | $0.75 | $0.55 | $0.21 | $0.40 | $0.32 |
| Operating Income | 6.7B | 5.9B | 3.2B | 2.6B | 2.6B | 2.1B |
| Operating Margin | 25.8% | 25.4% | 20.7% | 20.4% | 20.5% | 19.4% |
| ROE | 31.9% | 36.8% | 26.7% | 25.1% | 28.6% | 27.2% |
| Shares Outstanding | 1,290M | 1,279M | 1,263M | 2,488M | 1,190M | 1,253M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.3B | 5.6B | 6.3B | 7.0B | 8.2B | 8.2B | 8.6B | 10.9B | 12.6B | 12.6B | 15.2B | 23.1B | 25.9B |
| Gross Margin | 31.7% | 32.0% | 32.5% | 32.9% | 32.4% | 31.8% | 31.0% | 31.3% | 31.9% | 32.5% | 33.8% | 36.9% | 37.3% |
| R&D | 115M | 125M | 166M | 194M | 221M | 234M | 261M | 318M | 324M | 342M | 453M | 647M | 647M |
| SG&A | 645M | 669M | 798M | 878M | 960M | 971M | 1.0B | 1.2B | 1.4B | 1.5B | 1.9B | 2.5B | 2.8B |
| EBIT | 1.0B | 1.1B | 1.2B | 1.4B | 1.7B | 1.6B | 1.6B | 2.1B | 2.6B | 2.6B | 3.2B | 5.9B | 6.7B |
| Op. Margin | 19.4% | 19.8% | 19.2% | 20.4% | 20.6% | 19.7% | 19.1% | 19.4% | 20.5% | 20.4% | 20.7% | 25.4% | 25.8% |
| Net Income | 709M | 764M | 823M | 651M | 1.2B | 1.2B | 1.2B | 1.6B | 1.9B | 1.9B | 2.4B | 4.3B | 4.5B |
| Net Margin | 13.3% | 13.7% | 13.1% | 9.3% | 14.7% | 14.0% | 14.0% | 14.6% | 15.1% | 15.4% | 15.9% | 18.5% | 17.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 18.0% | 18.9% | 17.2% | 14.7% | 18.3% | 19.5% | 18.1% | 18.5% | 19.2% | 19.6% | 21.2% | 28.7% | 17.0% |
| ROE | 24.4% | 23.6% | 23.8% | 17.0% | 30.0% | 27.0% | 24.3% | 27.2% | 28.6% | 25.1% | 26.7% | 36.8% | 31.9% |
| ROA | 10.2% | 10.2% | 10.3% | 7.0% | 12.0% | 11.1% | 10.4% | 11.8% | 12.7% | 12.1% | 12.8% | 14.8% | 10.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 881M | 1.0B | 1.1B | 1.1B | 1.1B | 1.5B | 1.6B | 1.5B | 2.2B | 2.5B | 2.8B | 5.4B | 5.7B |
| Free Cash Flow | 672M | 858M | 887M | 918M | 802M | 1.2B | 1.3B | 1.2B | 1.8B | 2.2B | 2.1B | 4.4B | 4.6B |
| Owner Earnings | 671M | 815M | 813M | 868M | 757M | 1.1B | 1.2B | 1.1B | 1.7B | 2.0B | 2.1B | 4.3B | 4.4B |
| CapEx | 209M | 172M | 191M | 227M | 311M | 295M | 277M | 360M | 384M | 373M | 665M | 997M | 1.1B |
| Maint. CapEx | 168M | 172M | 217M | 227M | 300M | 312M | 308M | 396M | 393M | 406M | 573M | 922M | 1.2B |
| Growth CapEx | 41M | 500K | 0 | 0 | 11M | 0 | 0 | 0 | 0 | 0 | 93M | 74M | 0 |
| D&A | 168M | 172M | 217M | 227M | 300M | 312M | 308M | 396M | 393M | 406M | 573M | 922M | 1.2B |
| CapEx/OCF | 23.7% | 16.7% | 17.7% | 19.8% | 27.9% | 19.6% | 17.4% | 23.4% | 17.6% | 14.7% | 23.6% | 18.5% | 19.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 102M | 159M | 173M | 205M | 254M | 280M | 298M | 347M | 477M | 501M | 595M | 802M | 909M |
| Dividend Yield | 0.7% | 1.0% | 1.0% | 0.9% | 1.0% | 1.1% | 0.5% | 0.8% | 1.1% | 0.5% | 0.8% | 0.6% | 0.5% |
| Share Buybacks | 539M | 249M | 326M | 618M | 935M | 602M | 641M | 662M | 731M | 585M | 689M | 665M | 662M |
| Buyback Yield | 3.4% | 1.6% | 1.7% | 2.4% | 4.0% | 1.0% | 1.7% | 1.3% | 1.6% | 0.1% | 0.8% | 0.4% | 0.3% |
| Stock-Based Comp | 41M | 44M | 48M | 50M | 56M | 63M | 71M | 83M | 90M | 99M | 110M | 135M | 143M |
| Debt Repayment | 2.4B | 218M | 0 | 375M | 15M | 1.1B | 404M | 913M | 10M | 16M | 364M | 402M | 402M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.3B | 1.1B | 2.0B | 1.9B | 3.0B | 2.7B | 2.0B | 4.6B | 3.3B | 2.3B | 3.9B | 4.6B | 14.2B |
| Cash & Equiv. | 969M | 1.7B | 1.0B | 1.7B | 1.3B | 891M | 1.7B | 1.2B | 1.4B | 1.5B | 3.3B | 11.1B | 4.6B |
| Long-Term Debt | 2.7B | 2.8B | 2.6B | 3.5B | 2.8B | 3.2B | 3.6B | 4.8B | 4.6B | 4.0B | 6.5B | 14.6B | 16.6B |
| Debt/Equity | 0.91 | 0.87 | 0.87 | 0.93 | 1.08 | 0.79 | 0.69 | 0.93 | 0.67 | 0.48 | 0.74 | 1.20 | 1.34 |
| Interest Coverage | 12.9 | 16.2 | 16.6 | 15.5 | 16.6 | 13.8 | 14.2 | 18.2 | 20.1 | 18.3 | 14.5 | 16.0 | 52.3 |
| Equity | 2.9B | 3.2B | 3.7B | 4.0B | 4.0B | 4.5B | 5.4B | 6.3B | 7.0B | 8.3B | 9.8B | 13.4B | 14.0B |
| Total Assets | 7.0B | 7.5B | 8.5B | 10.0B | 10.0B | 10.8B | 12.3B | 14.7B | 15.3B | 16.5B | 21.4B | 36.2B | 42.1B |
| Total Liabilities | 4.0B | 4.2B | 4.8B | 6.0B | 6.0B | 6.2B | 6.9B | 8.3B | 8.2B | 8.1B | 11.6B | 22.7B | 28.0B |
| Intangibles | N/A | 216M | 474M | 442M | 398M | 442M | 398M | 757M | 734M | 835M | 1.2B | 2.2B | 5.4B |
| Retained Earnings | 2.5B | 2.8B | 3.1B | 2.9B | 3.0B | 3.3B | 3.7B | 4.3B | 5.0B | 5.9B | 7.1B | 9.9B | 10.4B |
| Working Capital | 2.4B | 2.8B | 2.0B | 3.1B | 2.1B | 2.1B | 3.2B | 3.5B | 3.8B | 3.7B | 5.6B | 13.5B | 6.4B |
| Current Assets | 3.5B | 3.9B | 3.6B | 4.7B | 4.6B | 4.2B | 5.5B | 6.0B | 6.5B | 6.8B | 9.7B | 20.3B | 15.4B |
| Current Liabilities | 1.0B | 1.0B | 1.6B | 1.6B | 2.5B | 2.1B | 2.3B | 2.4B | 2.7B | 3.2B | 4.1B | 6.8B | 9.0B |
| Per Share Data | |||||||||||||
| EPS | 0.55 | 0.60 | 0.65 | 0.52 | 0.96 | 0.97 | 0.49 | 1.27 | 1.60 | 0.78 | 1.92 | 3.34 | 3.54 |
| Owner EPS | 0.52 | 0.64 | 0.64 | 0.69 | 0.60 | 0.95 | 0.49 | 0.85 | 1.42 | 0.81 | 1.69 | 3.38 | 3.42 |
| Book Value | 2.27 | 2.56 | 2.91 | 3.16 | 3.21 | 3.80 | 2.19 | 5.03 | 5.90 | 3.36 | 7.76 | 10.49 | 10.84 |
| Cash Flow/Share | 0.69 | 0.81 | 0.85 | 0.91 | 0.89 | 1.26 | 0.65 | 1.23 | 1.83 | 1.02 | 2.23 | 4.20 | 4.37 |
| Dividends/Share | 0.11 | 0.13 | 0.15 | 0.18 | 0.22 | 0.23 | 0.13 | 0.32 | 0.40 | 0.21 | 0.55 | 0.75 | 0.71 |
| Shares Out. | 1.3B | 1.3B | 1.3B | 1.3B | 1.3B | 1.2B | 2.5B | 1.3B | 1.2B | 2.5B | 1.3B | 1.3B | 1.3B |
| Valuation | |||||||||||||
| P/E Ratio | 22.5 | 20.1 | 23.8 | 39.9 | 19.6 | 108.6 | 31.6 | 33.0 | 23.8 | 252.5 | 36.6 | 41.1 | 43.2 |
| P/FCF | 23.8 | 17.9 | 22.1 | 28.3 | 29.4 | 25.2 | 57.9 | 44.6 | 24.2 | 56.5 | 41.2 | 40.1 | 42.5 |
| EV/EBIT | 16.7 | 14.8 | 18.1 | 19.4 | 15.8 | 39.1 | 24.7 | 26.7 | 18.8 | 191.0 | 29.3 | 30.8 | 31.6 |
| Price/Book | 5.5 | 4.7 | 5.3 | 6.5 | 5.9 | 13.4 | 7.1 | 8.3 | 6.5 | 58.3 | 9.1 | 13.1 | 14.1 |
| Price/Sales | 2.6 | 2.8 | 2.7 | 3.2 | 3.2 | 6.5 | 3.5 | 3.9 | 3.5 | 32.1 | 5.1 | 5.4 | 7.6 |
| FCF Yield | 4.2% | 5.6% | 4.5% | 3.5% | 3.4% | 2.0% | 3.5% | 2.2% | 3.9% | 0.4% | 2.4% | 2.5% | 2.4% |
| Market Cap | 16.0B | 15.3B | 19.6B | 25.9B | 23.6B | 60.8B | 38.1B | 52.6B | 45.4B | 486.9B | 88.6B | 175.7B | 196.9B |
| Avg. Price | 10.84 | 12.48 | 13.51 | 17.77 | 20.70 | 22.28 | 24.48 | 34.27 | 35.81 | 40.44 | 61.81 | 97.94 | 152.67 |
| Year-End Price | 12.44 | 12.10 | 15.52 | 20.53 | 18.83 | 25.53 | 31.00 | 41.96 | 36.48 | 48.93 | 70.20 | 137.43 | 152.67 |
AMPHENOL CORP /DE/ passes 6 of 9 quality checks, suggesting mixed fundamentals.
AMPHENOL CORP /DE/ trades at 45.7x trailing earnings, compared to its 15-year median P/E of 32.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 44.6x vs a median of 34.8x. The company's 5-year average ROIC is 21.5% with a gross margin of 33.3%. Total shareholder yield (dividends + buybacks) is 0.8%. At current prices, the estimated annualized return to fair value is +16.0%.
AMPHENOL CORP /DE/ (APH) has a net profit margin of 18.5%. This is a healthy margin.
AMPHENOL CORP /DE/ (APH) generated $4.4 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AMPHENOL CORP /DE/ (APH) has a debt-to-equity ratio of 1.20. This indicates moderate leverage.
AMPHENOL CORP /DE/ (APH) reported earnings per share (EPS) of $3.34 in its most recent fiscal year.
AMPHENOL CORP /DE/ (APH) has a return on equity (ROE) of 36.8%. This indicates the company generates strong returns for shareholders.
AMPHENOL CORP /DE/ (APH) has a 5-year average gross margin of 33.3%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for AMPHENOL CORP /DE/ (APH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AMPHENOL CORP /DE/ (APH) has a book value per share of $10.49, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued robust demand across served markets, particularly in IT data communications driven by accelerating AI data center investments and enterprise cloud expansion. The company anticipates strong sequential sales growth in the second quarter of 2026 in the low teens range as AI-related demand accelerates, with defense and industrial markets expected to grow in the high single digits sequentially. CommScope, acquired in January 2026, is expected to deliver approximately $4.1 billion in full-year 2026 sales and contribute $0.15 to adjusted earnings per share, with management confident the business will improve performance as part of Amphenol and achieve margins closer to company averages over time. The company expects to maintain strong cash flow generation in 2026 with free cash flow conversion remaining within its typical range, and management remains confident in its ability to identify and execute acquisitions while successfully integrating them into Amphenol's entrepreneurial organization.
Based on recent SEC filings and earnings calls, AMPHENOL CORP /DE/ (APH) has provided the following forward guidance: CommScope full-year sales: $4.1 billion (FY2026); CommScope adjusted EPS accretion: $0.15 (FY2026).
No recent press releases.