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Amphenol
(NYSE:APH)
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Rating:74Outperform
Price Target:
$93.00
▼(-41.43% Downside)
Action:Reiterated
Date:09/06/26
APH scores well primarily on strong financial performance (high margins and solid cash generation) and a very positive earnings outlook with upgraded acquisition contribution and AI/IT datacom-driven momentum. The score is held back by elevated valuation (high P/E and low yield) and only moderately strong technical momentum.
Positive Factors
Diversified, embedded interconnect platform
Amphenol’s broad exposure across many end markets reduces dependence on any single customer or industry cycle. Products designed into customer platforms can generate repeat orders over equipment-program lives, supporting durable revenue visibility and reinforcing customer relationships.
Negative Factors
Higher leverage reduces flexibility
The increase in debt raises financial obligations and reduces flexibility if demand weakens or financing costs rise. Although profitability and cash generation are strong, greater leverage can constrain future acquisitions, investment and shareholder-return decisions.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified, embedded interconnect platform
Amphenol’s broad exposure across many end markets reduces dependence on any single customer or industry cycle. Products designed into customer platforms can generate repeat orders over equipment-program lives, supporting durable revenue visibility and reinforcing customer relationships.
Read all positive factors
Amphenol Key Performance Indicators (KPIs)
Any
Revenue by Sales Channel
Analyzes revenue from different sales channels, revealing the effectiveness of distribution strategies and potential areas for expanding market reach.
Analyzes revenue from different sales channels, revealing the effectiveness of distribution strategies and potential areas for expanding market reach.
Data provided by:
The Fly
The FlyAmphenol (APH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$206.94B
Dividend Yield0.79%
Average Volume (3M)11.09M
Price to Earnings (P/E)40.0
Beta (1Y)1.54
Revenue Growth54.17%
EPS Growth59.57%
CountryUS
Employees170,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)2.10
Shares Outstanding2,465,966,800
10 Day Avg. Volume10,497,804
30 Day Avg. Volume11,092,147
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$100.85Price Target Upside-36.48% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)2.63
Revenue Forecast (FY)$35.26B
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 and sensor products to original equipment manufacturers (OEMs) and their supply chains across multiple end markets. Its key revenue streams include: (1) Connectors: sales of electrical/electro...
Amphenol Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call was decidedly positive: management reported record sales, record orders, record adjusted EPS, strong operating margins, robust cash generation, and an improved outlook for the CommScope acquisition driven by AI/IT datacom demand. Multiple end markets delivered strong organic growth (notably IT datacom, industrial, defense, commercial air and mobile devices). Headwinds include communications networks organic moderation with expected Q3 sequential declines, higher effective tax rates, one-time tariff/acquisition-related benefits embedded in Q2 results, increased CapEx to support growth, and ongoing supply-chain sensitivities (e.g., fiber). On balance the operational execution, margin expansion, upgraded acquisition contribution, and cash/coverage metrics substantially outweigh the near-term moderations and risks.Positive Updates
Record Sales and Strong YoY/Sequential Growth
Second quarter record sales of $8.8 billion, up 55% in U.S. dollars, 54% in local currencies, and 30% organically vs. Q2 2025. Sequentially sales rose 15% in USD (15% in local currencies) and 13% organically.
Negative Updates
Communications Networks Organic Weakness and Near-Term Headwind
Communications networks organic sales moderated by 6% YoY (despite overall Communications Solutions growth driven by acquisitions). Company expects communications networks sales to decline in the mid-teens in Q3 sequentially, representing a clear near-term headwind.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Sales and Strong YoY/Sequential Growth
Second quarter record sales of $8.8 billion, up 55% in U.S. dollars, 54% in local currencies, and 30% organically vs. Q2 2025. Sequentially sales rose 15% in USD (15% in local currencies) and 13% organically.
Read all positive updates
Company Guidance
Amphenol guided third-quarter 2026 sales of $9.3–$9.4 billion and adjusted diluted EPS of $1.40–$1.42 (constant currency), implying year‑over‑year sales growth of 50–52% and adjusted EPS growth of 51–53% versus the prior‑year quarter, and noted the guide excludes any material additional net tariff recoveries; management also raised full‑year CommScope expectations to about $4.6 billion of sales and $0.30 of accretion (up from $4.1B and $0.15), and gave end‑market directional Q3 views versus Q2: defense up low‑double‑digits, commercial air modestly higher, industrial roughly flat, automotive roughly flat, communications networks down mid‑teens, mobile devices up ~20%, and IT/datacom up in the mid‑teens sequentially.Amphenol Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.01B | 23.09B | 15.22B | 12.55B | 12.62B | 10.88B |
| Gross Profit | 11.17B | 8.52B | 5.14B | 4.08B | 4.03B | 3.40B |
| EBITDA | 9.37B | 6.89B | 3.80B | 3.00B | 2.99B | 2.50B |
| Net Income | 5.15B | 4.27B | 2.42B | 1.93B | 1.90B | 1.59B |
Balance Sheet | ||||||
| Total Assets | 44.81B | 36.24B | 21.44B | 16.53B | 15.33B | 14.68B |
| Cash, Cash Equivalents and Short-Term Investments | 5.42B | 11.43B | 3.34B | 1.66B | 1.43B | 1.24B |
| Total Debt | 18.81B | 15.50B | 7.28B | 4.64B | 4.87B | 5.05B |
| Total Liabilities | 29.18B | 22.73B | 11.58B | 8.10B | 8.23B | 8.30B |
| Stockholders Equity | 15.49B | 13.41B | 9.79B | 8.35B | 7.02B | 6.30B |
Cash Flow | ||||||
| Free Cash Flow | 4.71B | 4.38B | 2.15B | 2.16B | 1.79B | 1.18B |
| Operating Cash Flow | 5.87B | 5.37B | 2.81B | 2.53B | 2.17B | 1.54B |
| Investing Cash Flow | -13.82B | -5.08B | -2.65B | -1.39B | -731.10M | -1.89B |
| Financing Cash Flow | 9.40B | 7.42B | 1.73B | -1.01B | -1.20B | -145.20M |
Amphenol Technical Analysis
Neutral
158.78
Price Trends
80.20
Negative
76.58
Positive
73.08
Positive
Market Momentum
0.18
Positive
45.43
Neutral
48.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APH, the sentiment is Neutral. The current price of 158.78 is above the 20-day moving average (MA) of 80.36, above the 50-day MA of 80.20, and above the 200-day MA of 73.08, indicating a neutral trend. The MACD of 0.18 indicates Positive momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 48.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $206.94B | 39.96 | 37.21% | 0.79% | 54.17% | 59.57% | |
72 Outperform | $33.33B | 39.27 | 62.42% | 0.10% | 17.80% | 55.75% | |
67 Neutral | $143.34B | 75.28 | 15.93% | 0.67% | 19.41% | 131.24% | |
66 Neutral | $14.86B | 31.38 | 21.01% | ― | 35.73% | 43.02% | |
65 Neutral | $42.77B | 44.70 | 18.71% | ― | 12.25% | 14.09% | |
63 Neutral | $11.58B | 37.89 | 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
78.55
19.33
32.65%
GLW
Corning
143.60
66.29
85.76%
FN
Fabrinet
382.55
23.55
6.56%
FLEX
Flex
108.32
50.56
87.53%
JBL
Jabil
298.72
82.91
38.42%
SANM
Sanmina-Sci
196.04
76.84
64.46%
Amphenol Corporate Events
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.