Amphenol Corporation (APH) 10-Year Financial Performance & Capital Metrics

APH • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Components & ConnectorsConnectors & Interconnects

AboutAmphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems. The company offers connectors and connector systems, including harsh environment data, power, high-speed, fiber optic, and radio frequency interconnect products; busbars and power distribution systems; and other connectors. It also provides value-add products, such as backplane interconnect systems, cable assemblies and harnesses, and cable management products; other products comprising flexible and rigid printed circuit boards, hinges, other mechanical, and production related products. In addition, the company offers consumer device, network infrastructure, and other antennas; coaxial, power, and specialty cables; and sensors and sensor-based products. It sells its products through its sales force, independent representatives, and a network of electronics distributors to original equipment manufacturers, electronic manufacturing services companies, original design manufacturers, and service providers in the automotive, broadband communication, commercial aerospace, industrial, information technology and data communication, military, mobile device, and mobile network markets. Amphenol Corporation was founded in 1932 and is headquartered in Wallingford, Connecticut.Show more

Revenue $15.22B +21.3%
EBITDA $3.86B +28.5%
Net Income $2.42B +25.7%
EPS (Diluted) 1.92 +23.9%
Gross Margin 33.76% +3.8%
EBITDA Margin 25.34% +6.0%
Operating Margin 21.57% +4.4%
Net Margin 15.92% +3.7%
ROE 26.52% +6.7%
ROIC 19.39% +10.5%
Debt/Equity 0.74 +34.1%
Interest Coverage 15.14 -18.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 26.5%
✓Strong 5Y profit CAGR of 16.0%
✓14 consecutive years of dividend growth
✓Momentum leader: RS Rating 81 (top 19%)
✓Strong 5Y sales CAGR of 13.1%
✓Healthy 5Y average net margin of 15.0%

✗Weaknesses

✗Expensive at 19.8x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.03%

5Y13.1%

3Y11.86%

TTM47.37%

Profit (Net Income) CAGR

10Y13.08%

5Y15.98%

3Y15.07%

TTM74.29%

EPS CAGR

10Y13.11%

5Y15.35%

3Y14.77%

TTM71.43%

ROCE

10Y Avg19.61%

5Y Avg19.89%

3Y Avg20.76%

Latest21.38%

Peer Comparison

Connectors & Interconnects

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
APHAmphenol Corporation	188.77B	154.22	80.32	21.25%	18.22%	30.33%	1.14%	0.74
TELTE Connectivity Ltd.	71.17B	241.92	39.27	7.85%	10.78%	14.47%	4.5%	0.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	5.57B	6.29B	7.01B	8.2B	8.23B	8.6B	10.88B	12.62B	12.55B	15.22B
Revenue Growth %	0.04%	0.13%	0.12%	0.17%	0%	0.05%	0.26%	0.16%	-0.01%	0.21%
Cost of Goods Sold+	3.79B	4.25B	4.7B	5.55B	5.61B	5.93B	7.47B	8.59B	8.47B	10.08B
COGS % of Revenue	0.68%	0.68%	0.67%	0.68%	0.68%	0.69%	0.69%	0.68%	0.67%	0.66%
Gross Profit+	1.78B	2.04B	2.31B	2.65B	2.62B	2.66B	3.4B	4.03B	4.08B	5.14B
Gross Margin %	0.32%	0.32%	0.33%	0.32%	0.32%	0.31%	0.31%	0.32%	0.33%	0.34%
Gross Profit Growth %	0.05%	0.15%	0.13%	0.15%	-0.01%	0.02%	0.28%	0.18%	0.01%	0.26%
Operating Expenses+	669.1M	798.2M	878.3M	959.5M	971.4M	1.01B	1.23B	1.42B	1.49B	1.86B
OpEx % of Revenue	0.12%	0.13%	0.13%	0.12%	0.12%	0.12%	0.11%	0.11%	0.12%	0.12%
Selling, General & Admin	544.4M	632.1M	684.6M	738.6M	737.2M	753.5M	908.6M	1.1B	1.15B	1.4B
SG&A % of Revenue	0.1%	0.1%	0.1%	0.09%	0.09%	0.09%	0.08%	0.09%	0.09%	0.09%
Research & Development	124.7M	166.1M	193.7M	220.9M	234.2M	260.7M	317.7M	323.6M	342.2M	453M
R&D % of Revenue	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	1.11B	1.24B	1.43B	1.7B	1.64B	1.65B	2.18B	2.61B	2.59B	3.28B
Operating Margin %	0.2%	0.2%	0.2%	0.21%	0.2%	0.19%	0.2%	0.21%	0.21%	0.22%
Operating Income Growth %	0.06%	0.12%	0.15%	0.18%	-0.03%	0%	0.32%	0.2%	-0.01%	0.27%
EBITDA+	1.28B	1.46B	1.66B	2B	1.96B	1.96B	2.57B	3B	3B	3.86B
EBITDA Margin %	0.23%	0.23%	0.24%	0.24%	0.24%	0.23%	0.24%	0.24%	0.24%	0.25%
EBITDA Growth %	0.05%	0.14%	0.14%	0.2%	-0.02%	0%	0.31%	0.17%	0%	0.29%
D&A (Non-Cash Add-back)	171.6M	217M	226.8M	299.7M	312.1M	308.1M	395.6M	392.9M	406.4M	572.5M
EBIT	1.12B	1.21B	1.44B	1.69B	1.61B	1.64B	2.1B	2.6B	2.59B	3.23B
Net Interest Income+	-49.9M	-61.1M	-72.1M	-101.7M	-117.6M	-115.4M	-115.5M	-128.4M	-139.5M	-217M
Interest Income	18.4M	11.5M	20.2M	0	0	0	0	0	0	0
Interest Expense	68.3M	72.6M	92.3M	101.7M	117.6M	115.4M	115.5M	128.4M	139.5M	217M
Other Income/Expense	-58M	-99.1M	-79.3M	-107M	-148.7M	-123.3M	-186.3M	-139.9M	-139.4M	-272.4M
Pretax Income+	1.05B	1.14B	1.35B	1.59B	1.5B	1.53B	1.99B	2.47B	2.45B	3.01B
Pretax Margin %	0.19%	0.18%	0.19%	0.19%	0.18%	0.18%	0.18%	0.2%	0.2%	0.2%
Income Tax+	280.5M	308.5M	691.7M	371.5M	331.9M	313.3M	409.1M	550.6M	509.3M	570.3M
Effective Tax Rate %	0.73%	0.72%	0.48%	0.76%	0.77%	0.79%	0.8%	0.77%	0.79%	0.8%
Net Income+	763.5M	822.9M	650.5M	1.21B	1.16B	1.2B	1.59B	1.9B	1.93B	2.42B
Net Margin %	0.14%	0.13%	0.09%	0.15%	0.14%	0.14%	0.15%	0.15%	0.15%	0.16%
Net Income Growth %	0.08%	0.08%	-0.21%	0.85%	-0.04%	0.04%	0.32%	0.2%	0.01%	0.26%
Net Income (Continuing)	772.3M	832.6M	660.7M	1.22B	1.16B	1.21B	1.58B	1.92B	1.95B	2.44B
Discontinued Operations	0	0	0	0	0	0	21.4M	0	0	0
Minority Interest	39.9M	48.2M	53.6M	47.2M	65.9M	67M	77.1M	78.5M	80M	64.1M
EPS (Diluted)+	0.61	0.66	0.52	0.96	0.94	0.98	1.27	1.53	1.55	1.92
EPS Growth %	0.09%	0.08%	-0.21%	0.85%	-0.02%	0.04%	0.3%	0.2%	0.01%	0.24%
EPS (Basic)	0.62	0.67	0.54	1.00	0.97	1.01	1.33	1.60	1.62	2.01
Diluted Shares Outstanding	1.27B	1.26B	1.27B	1.25B	1.23B	1.23B	1.25B	1.24B	1.24B	1.26B
Basic Shares Outstanding	1.24B	1.23B	1.22B	1.2B	1.19B	1.19B	1.2B	1.19B	1.19B	1.2B
Dividend Payout Ratio	0.21%	0.21%	0.32%	0.21%	0.24%	0.25%	0.22%	0.25%	0.26%	0.25%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.85B	3.59B	4.66B	4.57B	4.21B	5.49B	5.96B	6.48B	6.84B	9.69B
Cash & Short-Term Investments	1.76B	1.17B	1.75B	1.29B	908.6M	1.74B	1.24B	1.43B	1.66B	3.34B
Cash Only	1.74B	1.03B	1.72B	1.28B	891.2M	1.7B	1.2B	1.37B	1.48B	3.32B
Short-Term Investments	23.2M	138.6M	34.6M	12.4M	17.4M	36.1M	44.3M	61.1M	185.2M	18.4M
Accounts Receivable	1.1B	1.35B	1.6B	1.79B	1.74B	1.95B	2.45B	2.63B	2.62B	3.29B
Days Sales Outstanding	72.4	78.34	83.22	79.74	77.05	82.84	82.38	76.09	76.12	78.84
Inventory	851.8M	928.9M	1.11B	1.23B	1.31B	1.46B	1.89B	2.09B	2.17B	2.55B
Days Inventory Outstanding	82.06	79.81	85.94	81.18	85.25	89.93	92.49	88.91	93.38	92.15
Other Current Assets	133.2M	139.8M	196.8M	254.3M	256.1M	338.9M	367.9M	320M	389.6M	517M
Total Non-Current Assets+	3.61B	4.91B	5.35B	5.47B	6.6B	6.84B	8.72B	8.85B	9.69B	11.75B
Property, Plant & Equipment	609.5M	711.4M	816.8M	875.8M	1.2B	1.28B	1.42B	1.49B	1.62B	2.1B
Fixed Asset Turnover	9.14x	8.84x	8.58x	9.37x	6.88x	6.72x	7.66x	8.45x	7.77x	7.26x
Goodwill	2.69B	3.68B	4.04B	4.1B	4.87B	5.03B	6.38B	6.45B	7.09B	8.24B
Intangible Assets	306M	517.3M	488.5M	494.3M	442M	397.5M	756.9M	734.1M	834.8M	1.23B
Long-Term Investments	0	0	0	0	0	0	0	50.8M	400K	300K
Other Non-Current Assets	89.6M	13.5M	14.9M	17.8M	19.1M	29.8M	75.3M	35.4M	48.8M	67.7M
Total Assets+	7.46B	8.5B	10B	10.04B	10.82B	12.33B	14.68B	15.33B	16.53B	21.44B
Asset Turnover	0.75x	0.74x	0.70x	0.82x	0.76x	0.70x	0.74x	0.82x	0.76x	0.71x
Asset Growth %	0.06%	0.14%	0.18%	0%	0.08%	0.14%	0.19%	0.04%	0.08%	0.3%
Total Current Liabilities+	1.01B	1.64B	1.58B	2.45B	2.13B	2.3B	2.45B	2.68B	3.15B	4.08B
Accounts Payable	587.8M	678.2M	875.6M	890.5M	866.8M	1.12B	1.31B	1.31B	1.35B	1.82B
Days Payables Outstanding	56.63	58.27	67.98	58.59	56.4	68.92	64.07	55.59	58.21	65.86
Short-Term Debt	300K	375.2M	1.1M	764.3M	457.3M	298.3M	74.6M	87.9M	445.4M	510.2M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	232.9M	324.9M	396.9M	435.8M	508.9M	577.3M	605.5M	692.9M	777.6M	1.02B
Current Ratio	3.82x	2.20x	2.95x	1.86x	1.97x	2.38x	2.43x	2.42x	2.17x	2.37x
Quick Ratio	2.97x	1.63x	2.25x	1.36x	1.36x	1.75x	1.66x	1.64x	1.48x	1.75x
Cash Conversion Cycle	97.83	99.88	101.18	102.33	105.9	103.84	110.81	109.4	111.29	105.13
Total Non-Current Liabilities+	3.17B	3.14B	4.38B	3.53B	4.09B	4.57B	5.85B	5.56B	4.95B	7.5B
Long-Term Debt	2.81B	2.64B	3.54B	2.81B	3.2B	3.64B	4.8B	4.58B	3.98B	6.48B
Capital Lease Obligations	0	0	0	0	145.4M	161.1M	180.4M	208.5M	212.1M	285.6M
Deferred Tax Liabilities	29.8M	77.7M	241.2M	255.6M	260.4M	299.1M	424.2M	409.8M	367M	376.7M
Other Non-Current Liabilities	328.6M	427.2M	598.4M	467.4M	477.4M	474.7M	451.7M	362.7M	384.6M	353.6M
Total Liabilities	4.18B	4.78B	5.96B	5.98B	6.22B	6.88B	8.3B	8.23B	8.1B	11.58B
Total Debt+	2.81B	3.01B	3.54B	3.57B	3.81B	4.1B	5.05B	4.87B	4.64B	7.28B
Net Debt	1.08B	1.98B	1.82B	2.29B	2.91B	2.39B	3.85B	3.5B	3.17B	3.96B
Debt / Equity	0.86x	0.81x	0.88x	0.88x	0.83x	0.75x	0.79x	0.69x	0.55x	0.74x
Debt / EBITDA	2.19x	2.07x	2.14x	1.79x	1.95x	2.09x	1.96x	1.62x	1.55x	1.89x
Net Debt / EBITDA	0.84x	1.36x	1.10x	1.15x	1.49x	1.22x	1.50x	1.17x	1.06x	1.03x
Interest Coverage	16.26x	17.08x	15.51x	16.67x	13.98x	14.30x	18.84x	20.31x	18.60x	15.14x
Total Equity+	3.28B	3.72B	4.04B	4.06B	4.6B	5.45B	6.38B	7.09B	8.43B	9.86B
Equity Growth %	0.12%	0.14%	0.09%	0.01%	0.13%	0.19%	0.17%	0.11%	0.19%	0.17%
Book Value per Share	2.59	2.95	3.19	3.25	3.73	4.43	5.10	5.71	6.79	7.80
Total Shareholders' Equity	3.24B	3.67B	3.99B	4.02B	4.53B	5.38B	6.3B	7.02B	8.35B	9.79B
Common Stock	300K	300K	300K	300K	300K	300K	600K	600K	600K	1.2M
Retained Earnings	2.8B	3.12B	2.94B	2.97B	3.35B	3.71B	4.28B	4.98B	5.92B	7.11B
Treasury Stock	0	0	0	-55M	-70.8M	-111.1M	-100M	-79.8M	-142.8M	-199.7M
Accumulated OCI	-349.5M	-469M	-201M	-390.2M	-430.9M	-278.1M	-286.5M	-535M	-533.6M	-716.3M
Minority Interest	39.9M	48.2M	53.6M	47.2M	65.9M	67M	77.1M	78.5M	80M	64.1M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.03B	1.08B	1.14B	1.11B	1.5B	1.59B	1.54B	2.17B	2.53B	2.81B
Operating CF Margin %	0.19%	0.17%	0.16%	0.14%	0.18%	0.19%	0.14%	0.17%	0.2%	0.18%
Operating CF Growth %	0.17%	0.05%	0.06%	-0.03%	0.35%	0.06%	-0.03%	0.41%	0.16%	0.11%
Net Income	772.3M	832.6M	650.5M	1.21B	1.16B	1.21B	1.58B	1.9B	1.95B	2.42B
Depreciation & Amortization	171.6M	217M	226.8M	299.7M	312.1M	308.1M	395.6M	392.9M	406.4M	572.5M
Stock-Based Compensation	44.2M	47.6M	49.7M	55.6M	63M	70.5M	83M	89.5M	99M	109.5M
Deferred Taxes	-8.8M	-9.7M	186.3M	-12M	15.2M	30.8M	-29.6M	-4.7M	-58.8M	-82.8M
Other Non-Cash Items	-7.4M	-34.7M	10.2M	11.9M	14.3M	600K	16.2M	14.5M	-5.4M	17.6M
Working Capital Changes	58.6M	24.8M	20.7M	-447.5M	-66.3M	-31.3M	-505.2M	-219.9M	142M	-226.1M
Change in Receivables	-22.3M	-165.9M	-146.5M	-237.9M	117.3M	-146.3M	-398.4M	-273.1M	146.4M	-586.8M
Change in Inventory	-5.2M	-14.2M	-100.4M	-173.3M	-3.4M	-102M	-263M	-278.5M	71.4M	-200.1M
Change in Payables	-17.5M	47.8M	140.5M	48.8M	-60.2M	204.3M	131.7M	62.5M	-34.6M	423.1M
Cash from Investing+	-27.3M	-1.61B	-380.2M	-441.8M	-1.23B	-333.5M	-1.89B	-731.1M	-1.39B	-2.65B
Capital Expenditures	-172.1M	-190.8M	-226.6M	-310.6M	-295M	-276.8M	-360.4M	-383.8M	-372.8M	0
CapEx % of Revenue	0.03%	0.03%	0.03%	0.04%	0.04%	0.03%	0.03%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8.7M	7.1M	4.1M	5M	7.4M	12.1M	706.9M	22.1M	8.9M	-2.62B
Cash from Financing+	-180.1M	-133.5M	-140.1M	-1.07B	-648.4M	-516.6M	-145.2M	-1.2B	-1.01B	1.73B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-159.3M	-172.7M	-205M	-253.7M	-279.5M	-297.6M	-346.7M	-477.4M	-500.6M	-595.1M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	74.5M	181.8M	154.5M	-23.8M	-71.6M	-114.8M	227.4M	-9.9M	-27.8M	387.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	858.4M	886.8M	917.6M	802.1M	1.21B	1.32B	1.18B	1.79B	2.16B	2.15B
FCF Margin %	0.15%	0.14%	0.13%	0.1%	0.15%	0.15%	0.11%	0.14%	0.17%	0.14%
FCF Growth %	0.28%	0.03%	0.03%	-0.13%	0.51%	0.09%	-0.1%	0.52%	0.2%	-0%
FCF per Share	0.68	0.70	0.72	0.64	0.98	1.07	0.94	1.44	1.74	1.70
FCF Conversion (FCF/Net Income)	1.35x	1.31x	1.76x	0.92x	1.30x	1.32x	0.97x	1.14x	1.31x	1.16x
Interest Paid	64.1M	68.5M	84.3M	94.2M	116.6M	104.8M	111.9M	123.7M	129.2M	179.5M
Taxes Paid	250.7M	246.8M	325.2M	393.2M	408.3M	337.3M	445.6M	477.7M	560.4M	650M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	24.56%	23.51%	16.75%	29.73%	26.67%	23.95%	26.89%	28.24%	24.84%	26.52%
Return on Invested Capital (ROIC)	18.52%	18.5%	18.57%	20.81%	17.79%	16.12%	18.05%	18.78%	17.54%	19.39%
Gross Margin	31.96%	32.45%	32.95%	32.37%	31.8%	30.98%	31.28%	31.91%	32.53%	33.76%
Net Margin	13.71%	13.09%	9.28%	14.69%	14.04%	13.99%	14.63%	15.07%	15.36%	15.92%
Debt / Equity	0.86x	0.81x	0.88x	0.88x	0.83x	0.75x	0.79x	0.69x	0.55x	0.74x
Interest Coverage	16.26x	17.08x	15.51x	16.67x	13.98x	14.30x	18.84x	20.31x	18.60x	15.14x
FCF Conversion	1.35x	1.31x	1.76x	0.92x	1.30x	1.32x	0.97x	1.14x	1.31x	1.16x
Revenue Growth	4.18%	12.89%	11.53%	16.98%	0.29%	4.54%	26.48%	16.06%	-0.54%	21.25%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Communications Solutions	-	-	-	-	-	-	-	5.65B	4.91B	6.38B
Communications Solutions Growth	-	-	-	-	-	-	-	-	-13.08%	29.78%
Interconnect and Sensor Systems	-	-	-	-	-	-	-	3.86B	4.11B	4.51B
Interconnect and Sensor Systems Growth	-	-	-	-	-	-	-	-	6.41%	9.72%
Harsh Environment Solutions	-	-	-	-	-	-	-	3.11B	3.53B	4.51B
Harsh Environment Solutions Growth	-	-	-	-	-	-	-	-	13.63%	27.69%
Interconnect Products And Assemblies	5.24B	5.92B	6.61B	7.78B	7.84B	8.23B	10.43B	-	-	-
Interconnect Products And Assemblies Growth	-	13.04%	11.56%	17.78%	0.75%	4.97%	26.74%	-	-	-
Cable Products And Solutions	329.6M	364.1M	404.4M	420.1M	385.1M	369M	445.4M	-	-	-
Cable Products And Solutions Growth	-	10.47%	11.07%	3.88%	-8.33%	-4.18%	20.70%	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Other Foreign Locations	2.2B	2.68B	2.97B	3.37B	3.39B	3.51B	4.68B	5.2B	5.27B	6.55B
Other Foreign Locations Growth	-	21.99%	10.65%	13.52%	0.82%	3.33%	33.32%	11.27%	1.20%	24.41%
U [S]	1.7B	1.74B	1.98B	2.24B	2.52B	2.49B	3.16B	4.16B	4.41B	5.27B
U [S] Growth	-	2.62%	13.66%	13.29%	12.64%	-1.22%	26.54%	31.66%	6.02%	19.68%
C [N]	1.68B	1.87B	2.07B	2.59B	2.31B	2.6B	3.04B	3.27B	2.88B	3.4B
C [N] Growth	-	11.35%	10.81%	25.48%	-11.09%	12.62%	17.21%	7.25%	-11.67%	17.89%

Frequently Asked Questions

Valuation & Price

Amphenol Corporation (APH) has a price-to-earnings (P/E) ratio of 80.3x. This suggests investors expect higher future growth.

Growth & Financials

Amphenol Corporation (APH) reported $20.97B in revenue for fiscal year 2024. This represents a 432% increase from $3.94B in 2011.

Amphenol Corporation (APH) grew revenue by 21.3% over the past year. This is strong growth.

Yes, Amphenol Corporation (APH) is profitable, generating $3.82B in net income for fiscal year 2024 (15.9% net margin).

Dividend & Returns

Yes, Amphenol Corporation (APH) pays a dividend with a yield of 0.31%. This makes it attractive for income-focused investors.

Amphenol Corporation (APH) has a return on equity (ROE) of 26.5%. This is excellent, indicating efficient use of shareholder capital.

Amphenol Corporation (APH) generated $3.56B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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