Upside case
Bull case
$258+88.9%
APH would need investors to value it at roughly 55x earnings — about 26x more generous than today's 29x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
Amphenol Corporation (APH) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
29
analysts
15 bullish · 1 bearish · 29 covering APH
Strong Buy
0
Buy
15
Hold
13
Sell
1
Strong Sell
0
Consensus Target
$180
+31.9% vs today
Scenario Range
$114 – $258
Model bear to bull value window
Coverage
29
Published analyst ratings
Valuation Context
29.3x
Forward P/E · Market cap $168.1B
APH price targets
Three scenarios for where APH stock could go
Current
~$137
Confidence
71 / 100
Updated
May 1, 2026
Where we are now
Current · $137
Bear
$114
Base
$231
Bull
$258
Market caseClosest to today
Base case
$231+68.8%
At 49x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$114-16.7%
If investor confidence fades or macro conditions deteriorate, a 5x multiple contraction could push APH down roughly 17% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Amphenol Corporation
APH · NYSETechnologyHardware, Equipment & PartsDecember year-end
Amphenol is a leading manufacturer of electrical, electronic, and fiber optic connectors used across multiple industries. It generates revenue primarily through three segments—harsh environment solutions (~40%), communications solutions (~30%), and interconnect and sensor systems (~30%)—selling connectors, cable assemblies, and sensor products to OEMs and electronics manufacturers. The company's competitive advantage lies in its engineering expertise for harsh environments—enabling reliable connectivity in demanding applications like aerospace, automotive, and industrial settings—and its global manufacturing scale.
Market Cap
$168.1B
Revenue TTM
$25.9B
Net Income TTM
$4.5B
Net Margin
17.3%
APH Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
100%Exceptional
vs consensus estimates
Avg EPS Surprise
+10.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.81/$0.67
Revenue
$5.7B/$5.0B
Q4 2025
EPS
$0.93/$0.79
Revenue
$6.2B/$5.5B
Q1 2026
EPS
$0.97/$0.93
Revenue
$6.4B/$6.2B
Q2 2026
EPS
$1.06/$0.94
Revenue
$7.6B/$7.1B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.81/$0.67 | +21.4% | $5.7B/$5.0B | +12.1% |
| Q4 2025 | $0.93/$0.79 | +17.3% | $6.2B/$5.5B | +12.0% |
| Q1 2026 | $0.97/$0.93 | +4.0% | $6.4B/$6.2B | +4.0% |
| Q2 2026 | $1.06/$0.94 | +12.6% | $7.6B/$7.1B | +7.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$32.5B
+25.4% YoY
FY2
$39.8B
+22.7% YoY
EPS Outlook
FY1
$4.58
+31.9% YoY
FY2
$5.64
+23.2% YoY
Trailing FCF (TTM)$4.6B
FCF Margin: 17.9%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
APH beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
APH Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $23.4B
Product Mix
Latest annual revenue by segment or product family
Communications Solutions
52.0%
+90.7% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Other Foreign Locations
49.5%
+74.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Communications Solutions is the largest disclosed segment at 52.0% of FY 2025 revenue, up 90.7% YoY.
Other Foreign Locations is the largest reported region at 49.5%, up 74.6% YoY.
APH Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Overvalued
Fair value est. $119 — implies -16.7% from today's price.
Premium to Fair Value
16.7%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
APH
40.9x
vs
S&P 500
25.1x
+63% premium
vs Technology Trailing P/E
APH
40.9x
vs
Technology
26.7x
+53% premium
vs APH 5Y Avg P/E
Today
40.9x
vs
5Y Average
33.5x
+22% premium
Forward PE
29.3x
S&P 500
19.1x
+54%
Technology
22.1x
+32%
5Y Avg
—
—
Trailing PE
40.9x
S&P 500
25.1x
+63%
Technology
26.7x
+53%
5Y Avg
33.5x
+22%
PEG Ratio
1.47x
S&P 500
1.72x
-14%
Technology
1.52x
-3%
5Y Avg
—
—
EV/EBITDA
25.0x
S&P 500
15.2x
+64%
Technology
17.5x
+43%
5Y Avg
22.1x
+13%
Price/FCF
38.4x
S&P 500
21.1x
+82%
Technology
19.5x
+97%
5Y Avg
36.3x
+6%
Price/Sales
7.3x
S&P 500
3.1x
+133%
Technology
2.4x
+198%
5Y Avg
5.4x
+35%
Dividend Yield
0.46%
S&P 500
1.87%
-75%
Technology
1.16%
-60%
5Y Avg
0.72%
-36%
| Metric | APH | S&P 500 | Technology | 5Y Avg APH |
|---|---|---|---|---|
| Forward PE | 29.3x | 19.1x+54% | 22.1x+32% | — |
| Trailing PE | 40.9x | 25.1x+63% | 26.7x+53% | 33.5x+22% |
| PEG Ratio | 1.47x | 1.72x-14% | 1.52x | — |
| EV/EBITDA | 25.0x | 15.2x+64% | 17.5x+43% | 22.1x+13% |
| Price/FCF | 38.4x | 21.1x+82% | 19.5x+97% | 36.3x |
| Price/Sales | 7.3x | 3.1x+133% | 2.4x+198% | 5.4x+35% |
| Dividend Yield | 0.46% | 1.87% | 1.16% | 0.72% |
APH trades above S&P 500 benchmarks on 5 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolAPH Financial Health
Verdict
Exceptional
APH generates $4.6B in free cash flow at a 17.9% margin — 28.3% ROIC signals a durable competitive advantage.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$25.9B
Revenue Growth
TTM vs prior year
+54.4%
Gross Margin
Gross profit as a share of revenue
37.3%
Operating Margin
Operating income divided by revenue
26.0%
Net Margin
Net income divided by revenue
17.3%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$3.47
Free Cash Flow (TTM)
Cash generation after capex
$4.6B
FCF Margin
FCF as share of revenue — the primary cash quality signal
17.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
28.3%
ROA
Return on assets, trailing twelve months
13.6%
Cash & Equivalents
Liquid assets on the balance sheet
$11.1B
Net Debt
Total debt minus cash
$4.4B
Debt Serviceability
Net debt as a multiple of annual free cash flow
0.9× FCF
~0.9 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
34.6%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.9%
Dividend
0.5%
Buyback
0.4%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$665M
Dividend / Share
Annualized trailing dividend per share
$0.63
Payout Ratio
Share of earnings distributed as dividends
18.8%
Shares Outstanding
Declining as buybacks retire shares
1.2B
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageAPH Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 11, 2026
High Risk
Economic Downturn Impact
Amphenol has historically suffered significant drawdowns during major crises, with average declines of -27% during credit and liquidity crises. A general decline in the industrial production index and reduced automation spending could further hinder industry growth, amplifying the impact on the company.
Medium
Capital Market Volatility
The company relies on global capital markets to finance investments and acquisitions. Volatility in these markets could impair Amphenol's ability to raise capital on favorable terms, potentially limiting growth and strategic initiatives.
Medium
Acquisition Integration Risk
Amphenol has a history of acquiring large, complex businesses. Difficulties and unexpected integration expenses could adversely affect financial performance, eroding earnings and cash flow.
Medium
Supply Chain Disruption
Ongoing supply chain issues, especially within the automotive sector, can disrupt production levels. Such constraints may delay product deliveries and increase costs, impacting revenue and margins.
Lower
Insider Selling Activity
Recent insider selling activity may signal management concerns or liquidity needs. While not necessarily indicative of long-term fundamentals, it can trigger short-term caution among investors.
Lower
Market Sentiment Shift
Broad market de-risking moves, driven by global events, can affect Amphenol's stock price. Negative sentiment may lead to a decline in trading volume and valuation.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why APH Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 11, 2026
AI & Data Center Interconnect Dominance
Amphenol holds an estimated 33% market share in AI/data center interconnects, supplying key components for NVIDIA GPUs. The company is positioned to benefit from significant growth driven by AI‑driven data center buildouts.
EV Connector Content Expansion
Amphenol’s increased connector content in electric vehicles places it for long‑term growth as the EV sector rebounds. The company’s presence in this high‑growth market supports sustained revenue expansion.
Defense Rugged Interconnects Advantage
Amphenol plays a foundational role in defense technology with rugged interconnects and cabling systems for military platforms. It benefits from rising global defense spending, providing a stable demand base.
$10.5B CommScope Acquisition
The planned $10.5 billion purchase of CommScope’s connectivity business is expected to significantly expand Amphenol’s product offerings and revenue base. This disciplined acquisition strategy enhances the company’s market reach.
Strong Revenue & Earnings Growth
Amphenol has demonstrated 13% annual revenue growth through 2026, with earnings projected to compound at 20.6% annually over the next three to five years. This robust financial performance underpins the company’s growth trajectory.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
APH Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$136.69
52W Range Position
65%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$79.10
+72.8% from the low
52-Week High
$167.04
-18.2% from the high
1 Month
+8.06%
3 Month
+7.10%
YTD
-2.2%
1 Year
+70.5%
3Y CAGR
+53.4%
5Y CAGR
+32.5%
10Y CAGR
+25.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
APH vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
29.3x
vs 18.5x median
+59% above peer median
Revenue Growth
+25.4%
vs +7.1% median
+260% above peer median
Net Margin
17.3%
vs 11.1% median
+56% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
APH APH Amphenol Corporation | $168.1B | 29.3x | +25.4% | 17.3% | Buy | +31.9% |
TEL TEL TE Connectivity Ltd. | $60.7B | 18.5x | +5.8% | 15.7% | Buy | +26.9% |
HUB HUBB Hubbell Incorporated | $27.0B | 25.8x | +5.6% | 15.1% | Hold | +5.4% |
BDC BDC Belden Inc. | $4.4B | 14.1x | +7.1% | 8.5% | Buy | +33.9% |
CNX CNXC Concentrix Corporation | $1.7B | 2.0x | +8.1% | -13.0% | Buy | +118.0% |
GLW GLW Corning Incorporated | $139.2B | 51.4x | +13.0% | 11.1% | Buy | -11.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
APH Dividend and Capital Return
APH returns 0.9% total yield, led by a 0.46% dividend, raised 15 consecutive years.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
0.9%
Dividend + buyback return per year
Buyback Yield
0.4%
Dividend Yield
0.46%
Payout Ratio
18.8%
How APH Splits Its Return
Div 0.46%
Buyback 0.4%
Dividend 0.46%Buybacks 0.4%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.63
Growth Streak
Consecutive years of dividend increases
15Y
3Y Div CAGR
22.5%
5Y Div CAGR
23.4%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$665M
Estimated Shares Retired
5M
Approx. Share Reduction
0.4%
Shares Outstanding
Current diluted share count from the screening snapshot
1.2B
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.25 | — | — | — |
| 2025 | $0.74 | +35.5% | 0.4% | 0.9% |
| 2024 | $0.55 | +29.4% | 0.8% | 1.5% |
| 2023 | $0.42 | +4.9% | 1.0% | 1.8% |
| 2022 | $0.41 | +27.6% | 1.5% | 2.6% |
FAQ
7 questionsAPH Investor Questions
Common questions answered from live analyst data and company financials.
01Is Amphenol Corporation (APH) stock a buy or sell in 2026?
Amphenol Corporation (APH) is rated Buy by Wall Street analysts as of 2026. Of 29 analysts covering the stock, 15 rate it Buy or Strong Buy, 13 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $180, implying +31.9% from the current price of $137. The bear case scenario is $114 and the bull case is $258.
02What is the APH stock price target for 2026?
The Wall Street consensus price target for APH is $180 based on 29 analyst estimates. The high-end target is $215 (+57.3% from today), and the low-end target is $165 (+20.7%). The base case model target is $231.
03Is Amphenol Corporation (APH) stock overvalued in 2026?
APH trades at 29.3x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Amphenol Corporation (APH) stock in 2026?
The primary risks for APH in 2026 are: (1) Economic Downturn Impact — Amphenol has historically suffered significant drawdowns during major crises, with average declines of -27% during credit and liquidity crises. (2) Capital Market Volatility — The company relies on global capital markets to finance investments and acquisitions. (3) Acquisition Integration Risk — Amphenol has a history of acquiring large, complex businesses. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Amphenol Corporation's revenue and earnings forecast?
Analyst consensus estimates APH will report consensus revenue of $32.5B (+25.4% year-over-year) and EPS of $4.58 (+31.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $39.8B in revenue.
06When does Amphenol Corporation (APH) report its next earnings?
A confirmed upcoming earnings date for APH is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Amphenol Corporation generate?
Amphenol Corporation (APH) generated $4.6B in free cash flow over the trailing twelve months — a free cash flow margin of 17.9%. APH returns capital to shareholders through dividends (0.5% yield) and share repurchases ($665M TTM).