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Amphenol
(NYSE:APH)
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Rating:75Outperform
Price Target:
$169.00
▲(10.70% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by strong financial performance and a very upbeat earnings outlook (record demand indicators and strong growth guidance). Offsetting factors are the premium valuation (high P/E, low yield), increased leverage, and softer near-term technical positioning with the stock below key short-term moving averages.
Positive Factors
Margins & Cash Conversion
Amphenol's durable profitability and strong free cash flow conversion (FCF ~$4.7B TTM, FCF ≈0.81x net income) support reinvestment, acquisitions, and shareholder returns. Robust margins provide buffer across cycles and sustain long-term capital allocation flexibility.
Negative Factors
Higher Leverage
Rising absolute and relative debt increases financial sensitivity to demand slowdowns or higher interest rates. While liquidity exists, elevated leverage narrows flexibility for opportunistic investments and raises refinancing and coverage risk if cyclicality pressures cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
Margins & Cash Conversion
Amphenol's durable profitability and strong free cash flow conversion (FCF ~$4.7B TTM, FCF ≈0.81x net income) support reinvestment, acquisitions, and shareholder returns. Robust margins provide buffer across cycles and sustain long-term capital allocation flexibility.
Read all positive factors
Amphenol Key Performance Indicators (KPIs)
Any
Revenue by Segment
Details revenue contributions from each business segment, highlighting which areas drive growth and where the company might allocate resources for future expansion.
Details revenue contributions from each business segment, highlighting which areas drive growth and where the company might allocate resources for future expansion.
Data provided by:
The Fly
The FlyAmphenol (APH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$176.97B
Dividend Yield0.61%
Average Volume (3M)7.14M
Price to Earnings (P/E)39.3
Beta (1Y)1.59
Revenue Growth54.17%
EPS Growth59.56%
CountryUS
Employees170,000
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)4.20
Shares Outstanding1,230,234,500
10 Day Avg. Volume5,951,915
30 Day Avg. Volume7,141,220
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
$199.11Price Target Upside30.42% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.85
Revenue Forecast (FY)$33.65B
Amphenol Business Overview & Revenue Model
Company Description
Amphenol Corporation (APH) is a global designer and manufacturer of interconnect products and related solutions used to connect, distribute, and protect power and data in electronic systems. The company’s core offerings include electrical, electro...
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
Negative
152.67
Price Trends
152.23
Negative
143.98
Positive
141.36
Positive
Market Momentum
-0.12
Positive
45.56
Neutral
64.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APH, the sentiment is Negative. The current price of 152.67 is below the 20-day moving average (MA) of 156.84, above the 50-day MA of 152.23, and above the 200-day MA of 141.36, indicating a neutral trend. The MACD of -0.12 indicates Positive momentum. The RSI at 45.56 is Neutral, neither overbought nor oversold. The STOCH value of 64.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
85 Outperform | $48.92B | 28.12 | 19.93% | 1.54% | 13.51% | 19.53% | |
79 Outperform | $30.12B | 31.28 | 9.13% | ― | 7.70% | 13.95% | |
78 Outperform | $62.04B | 20.83 | 23.18% | 1.43% | 16.53% | 110.98% | |
76 Outperform | $52.15B | 50.19 | 17.44% | ― | 19.19% | 42.75% | |
75 Outperform | $176.97B | 39.30 | 34.81% | 0.60% | 54.17% | 59.56% | |
66 Neutral | $108.45B | 56.96 | 15.93% | 0.76% | 19.41% | 131.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
APH
Amphenol
150.31
45.54
43.46%
GLW
Corning
124.05
62.12
100.30%
GRMN
Garmin
294.83
76.91
35.29%
TEL
TE Connectivity
206.95
3.10
1.52%
TDY
Teledyne Technologies
631.35
80.76
14.67%
KEYS
Keysight Technologies
296.72
129.17
77.09%
Amphenol Corporate Events
Executive/Board ChangesShareholder Meetings
Amphenol Shareholders Back Directors, Auditor and Executive Pay
Positive
May 22, 2026
At its annual meeting of stockholders held on May 21, 2026, Amphenol reported that a quorum of 1,121,383,291 shares of its Class A common stock was present or represented, out of 1,229,430,709 shares outstanding as of the March 23, 2026 record dat...
Business Operations and StrategyPrivate Placements and Financing
Amphenol Issues €1.1 Billion Senior Notes Offering
Positive
May 12, 2026
On May 12, 2026, Amphenol Corporation raised €1.1 billion through an underwritten public offering of senior notes, issuing €600 million of 3.375% notes due 2029 and €500 million of 3.875% notes due 2034. The unsecured senior note...
Business Operations and StrategyPrivate Placements and Financing
Amphenol Prices €1.1 Billion Euro Senior Notes Offering
Positive
May 6, 2026
On May 5, 2026, Amphenol Corporation announced the pricing of a €1.1 billion euro‑denominated senior notes offering, comprising €600 million of 3.375% notes due 2029 and €500 million of 3.875% notes due 2034, with closing e...
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.