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Amphenol
(NYSE:APH)
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Rating:74Outperform
Price Target:
$91.00
▼(-42.69% Downside)
Action:Reiterated
Date:10/29/26
APH scores well overall primarily due to strong operating performance and a very upbeat earnings outlook with raised guidance and record orders/cash flow. This is tempered by balance-sheet leverage risk from higher absolute debt and a relatively expensive valuation (high P/E with low yield), while technical indicators are currently neutral/mixed.
Positive Factors
Broad Revenue Growth
Exceptional organic growth across most end markets indicates broad customer demand rather than reliance on a single temporary program. This scale of expansion can strengthen Amphenol’s customer relationships, improve operating leverage, and support sustained revenue growth over coming quarters.
Negative Factors
Higher Absolute Debt
The sharp rise in absolute debt increases the company’s financial obligations and makes balance-sheet discipline more important. Although profitability and a 1.1x net leverage ratio support debt service currently, higher borrowing can reduce flexibility if growth or cash conversion weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Broad Revenue Growth
Exceptional organic growth across most end markets indicates broad customer demand rather than reliance on a single temporary program. This scale of expansion can strengthen Amphenol’s customer relationships, improve operating leverage, and support sustained revenue growth over coming quarters.
Read all positive factors
Amphenol Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Highlights the profit generated by each business segment, indicating which areas are most lucrative and where the company might focus its growth efforts.
Highlights the profit generated by each business segment, indicating which areas are most lucrative and where the company might focus its growth efforts.
Data provided by:
The Fly
The FlyAmphenol (APH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$195.55B
Dividend Yield0.63%
Average Volume (3M)12.52M
Price to Earnings (P/E)32.9
Beta (1Y)1.59
Revenue Growth57.56%
EPS Growth53.30%
CountryUS
Employees170,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)2.41
Shares Outstanding2,465,966,800
10 Day Avg. Volume13,723,690
30 Day Avg. Volume12,518,974
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)12.27
Price to Sales (P/S)7.13
P/FCF Ratio37.60
Enterprise Value/Market Cap1.18
Enterprise Value/Revenue6.97
Enterprise Value/Gross Profit17.97
Enterprise Value/Ebitda21.61
Forecast
1Y Price Target
$108.09Price Target Upside-31.92% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)2.79
Revenue Forecast (FY)$36.93B
Amphenol Business Overview & Revenue Model
Company Description
Amphenol Corporation, alongside its numerous subsidiaries, operates globally as a prominent designer, manufacturer, and distributor of electrical, electronic, and fiber optic connectors. Its market reach extends across the United States, China, an...
How the Company Makes Money
Amphenol makes money primarily by selling interconnect hardware and related products to OEMs and electronics manufacturers across a diversified set of end markets. Its core revenue stream is the sale of connectors and connector systems (e.g., boar...
Amphenol Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 27, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Record sales, orders, earnings, cash flow, margins, backlog, and guidance were supported by broad-based demand, particularly in AI-driven IT Datacom, defense, industrial, mobile devices, and commercial air. The main challenges were organic weakness in communications networks, expected near-term moderation in industrial and automotive, a sequential margin decline partly related to lower tariff recoveries, higher GAAP taxes, and some acquisition-related margin dilution. Highlights significantly outweighed lowlights.Positive Updates
Record Quarterly Sales and Strong Organic Growth
Third-quarter sales reached a record $10.2 billion, up 65% in U.S. Dollars and local currencies and up 37% organically compared to the third quarter of 25. Sequentially, sales increased 17% in U.S. Dollars and local currencies and 16% organically.
Negative Updates
Communications Networks Organic Decline
Communications networks sales increased 25% year over year in U.S. Dollars due to the addition of CommScope, but declined 28% organically because of moderation in broadband demand and demand from other communications network operators. Sequential sales declined 13%, and the company expects a further decline in the fourth quarter because of continued softness in spending, particularly in broadband.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Quarterly Sales and Strong Organic Growth
Third-quarter sales reached a record $10.2 billion, up 65% in U.S. Dollars and local currencies and up 37% organically compared to the third quarter of 25. Sequentially, sales increased 17% in U.S. Dollars and local currencies and 16% organically.
Read all positive updates
Company Guidance
Assuming the continuation of current market conditions and constant exchange rates, Amphenol expects fourth-quarter sales of $10.3 billion to $10.5 billion and adjusted diluted EPS of $0.81 to $0.83, representing a year over year sales increase of 60% to 63% and an adjusted diluted EPS increase of 65% to 69%; full-year sales are expected at $36.9 billion to $37.1 billion and full-year adjusted diluted EPS at $2.82 to $2.84, representing a full year sales increase of approximately 60% and an adjusted EPS increase of approximately 70%. Fourth-quarter market guidance includes a mid single digit increase in defense sales, sales remaining at the strong third quarter levels in commercial air, sales moderating somewhat in industrial, a slight sales moderation in automotive, a further decline in communications networks, an increase of approximately 35% in mobile devices, and a mid single digits increase in IT Datacom; full-year guidance includes defense sales increasing by more than 35%, commercial air by approximately 20%, industrial by more than 50%, automotive in the 10% range, communications networks by more than 40%, mobile devices by more than 30%, and IT Datacom sales more than double compared to prior year. Guidance excludes Advanced PCB, DexScreen, and Humanetics; CommScope is expected to achieve $5.1 billion in sales and contribute $0.18 to 2026 adjusted earnings per share. Long term, capital intensity is expected to remain in the 3% to 4% range, with maybe slightly higher than 4 and certainly times where we are growing pretty quickly.Amphenol Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
67
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.05B | 23.09B | 15.22B | 12.55B | 12.62B | 10.88B |
| Gross Profit | 12.83B | 8.60B | 5.14B | 4.08B | 4.03B | 3.40B |
| EBITDA | 10.66B | 6.97B | 3.80B | 3.00B | 2.99B | 2.50B |
| Net Income | 5.94B | 4.27B | 2.42B | 1.93B | 1.90B | 1.59B |
Balance Sheet | ||||||
| Total Assets | 47.02B | 36.24B | 21.44B | 16.53B | 15.33B | 14.68B |
| Cash, Cash Equivalents and Short-Term Investments | 5.30B | 11.43B | 3.34B | 1.66B | 1.43B | 1.24B |
| Total Debt | 17.87B | 15.50B | 7.28B | 4.64B | 4.87B | 5.05B |
| Total Liabilities | 29.75B | 22.73B | 11.58B | 8.10B | 8.23B | 8.30B |
| Stockholders Equity | 17.12B | 13.41B | 9.79B | 8.35B | 7.02B | 6.30B |
Cash Flow | ||||||
| Free Cash Flow | 5.12B | 4.38B | 2.15B | 2.16B | 1.79B | 1.18B |
| Operating Cash Flow | 6.48B | 5.37B | 2.81B | 2.53B | 2.17B | 1.54B |
| Investing Cash Flow | -14.48B | -5.08B | -2.65B | -1.39B | -731.10M | -1.89B |
| Financing Cash Flow | 8.27B | 7.42B | 1.73B | -1.01B | -1.20B | -145.20M |
Amphenol Technical Analysis
Positive
158.78
Price Trends
81.30
Positive
80.77
Positive
75.20
Positive
Market Momentum
-1.17
Positive
52.74
Neutral
75.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APH, the sentiment is Positive. The current price of 158.78 is above the 20-day moving average (MA) of 82.05, above the 50-day MA of 81.30, and above the 200-day MA of 75.20, indicating a bullish trend. The MACD of -1.17 indicates Positive momentum. The RSI at 52.74 is Neutral, neither overbought nor oversold. The STOCH value of 75.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APH.
Amphenol Risk Analysis
Amphenol disclosed 22 risk factors in its most recent earnings report. Amphenol reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amphenol Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $195.55B | 32.90 | 39.61% | 0.63% | 57.56% | 53.30% | |
70 Outperform | $11.73B | 24.78 | 21.01% | ― | 35.73% | 43.02% | |
69 Neutral | $31.95B | 31.22 | 19.23% | ― | 17.55% | ― | |
66 Neutral | $106.22B | 49.32 | 17.25% | 0.91% | 18.80% | 56.55% | |
64 Neutral | $28.08B | 27.63 | 74.11% | 0.12% | 20.64% | 63.69% | |
64 Neutral | $8.87B | 29.05 | 12.57% | ― | 58.56% | 19.37% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
APH
Amphenol
79.30
10.11
14.62%
GLW
Corning
123.31
35.00
39.63%
FN
Fabrinet
327.29
-113.28
-25.71%
FLEX
Flex
86.48
23.96
38.32%
JBL
Jabil
272.72
52.09
23.61%
SANM
Sanmina-Sci
165.57
28.52
20.81%
Amphenol Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A TransactionsStock Split
Amphenol boosts dividend and launches major buyback plan
Positive
Oct 28, 2026
Amphenol reported record third quarter 2026 results, with sales rising 65% year-on-year to $10.2 billion, organic growth of 37% and adjusted diluted EPS up 74% to $0.80, supported by strong demand in IT datacom and other end markets. Orders reache...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Amphenol Announces Leadership Transition in Harsh Environment Solutions
Neutral
Oct 6, 2026
On October 1, 2026, Amphenol Corporation announced that long-time executive Luc Walter, who has served the company for 43 years and is President of its Harsh Environment Solutions Division, will move into a new role as Senior Vice President, Strat...
DividendsStock Split
Amphenol Completes Two-for-One Stock Split, Adjusts Dividend
Positive
Sep 4, 2026
On August 6, 2026, Amphenol’s board approved a third-quarter 2026 cash dividend of $0.25 per share on its Class A Common Stock, initially scheduled to be paid on October 14, 2026 to shareholders of record as of September 22, 2026. The compan...
DividendsFinancial DisclosuresStock Split
Amphenol Announces Two-for-One Stock Split, Updates Outlook
Positive
Aug 6, 2026
On August 6, 2026, Amphenol Corporation announced that its board had approved a two-for-one stock split of its Class A common stock, declared at a meeting held on August 5, 2026, with shareholders of record on August 17, 2026 set to receive one ad...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.