Amphenol (APH) AI Stock Analysis

• Market Cap: $181.59B
• Dividend Yield: 0.54%
• Average Volume (3M): 10.90M
• Price to Earnings (P/E): 44.2
• Beta (1Y): 1.61
• Revenue Growth: 47.37%
• EPS Growth: 72.30%
• Country: US
• Employees: 125,000
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.97
• Shares Outstanding: 1,229,215,000
• 10 Day Avg. Volume: 7,667,931
• 30 Day Avg. Volume: 10,901,054
• PEG Ratio: 0.52
• Price to Book (P/B): 12.27
• Price to Sales (P/S): 7.13
• P/FCF Ratio: 37.60
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 8.06
• Enterprise Value/Gross Profit: 21.85
• Enterprise Value/Ebitda: 27.00
• 1Y Price Target: $172.92
• Price Target Upside: 14.49% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 4.39
• Revenue Forecast (FY): $31.33B

• Rating: 76 Outperform
• Price Target: $144.00 ▼(-4.66% Downside)
• Action: Reiterated Date: 01/29/26
• Date: Action: Reiterated 01/29/26

The score is driven primarily by strong underlying financial performance and a very positive earnings outlook (record results and robust guided growth). Offsetting factors are elevated valuation and increased balance-sheet risk from the debt-financed acquisition, while technical signals are positive but not strongly overbought.

Positive Factors

Revenue and Order Growth

Exceptional multi-year top-line traction and a book‑to‑bill above 1 provide durable demand visibility. Record orders and large organic growth reflect structural end-market strength (AI/datacom, communications, defense) and support sustained revenue conversion beyond near-term cycles.

Free Cash Flow Generation

Consistently strong and record free cash flow underpins long‑term financial flexibility. High cash conversion supports capex, dividends, buybacks, and integration funding, reducing reliance on external financing and enabling disciplined capital allocation through multi‑quarter cycles.

Strategic M&A and Portfolio Expansion

Large, targeted acquisitions broaden Amphenol's product set into fiber, data‑center and building connectivity, adding scale and cross‑sell opportunities. This strengthens competitive positioning in secular growth markets (AI/datacom, 5G, broadband) and diversifies revenue sources long term.

Negative Factors

Elevated Leverage

The sharp step‑up in debt meaningfully reduces balance‑sheet flexibility and raises financial risk. Higher leverage increases sensitivity to cash‑flow swings, limits optionality for future investments or tolerating cyclical slowdowns, and lengthens the path to restoring conservative capital structure.

Higher Interest Expense

A materially higher recurring interest burden consumes free cash flow and constrains reinvestment or faster deleveraging. If organic growth or cash conversion weakens, elevated interest costs will pressure margins and limit the company's ability to finance further strategic initiatives without increasing risk.

Integration and Margin Risk

Large acquisitions bring integration complexity, one‑time charges and near‑term margin dilution. Combined with metals cost and supply‑chain pressures, scaling newly acquired businesses and aligning seasonality threaten sustained margin expansion unless execution and cost discipline are maintained over the next several quarters.

Amphenol Business Overview & Revenue Model

Company Description

Amphenol 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.

How the Company Makes Money

Amphenol generates revenue primarily through the sale of its interconnect products and solutions to various industries. The company has a diversified revenue model that includes direct sales to original equipment manufacturers (OEMs) and distributors. Key revenue streams include products for telecommunications infrastructure, automotive connectivity, and military and aerospace applications. Additionally, Amphenol benefits from long-term contracts with major clients and strategic partnerships, which provide a steady stream of income. The company's focus on innovation and investment in research and development also positions it favorably to capture growth in emerging markets such as electric vehicles and 5G technology.

Amphenol Financial Statement Overview

Summary

High-quality profitability and cash generation support a strong financial profile (healthy margins and record free cash flow), but the sharp 2025 debt increase meaningfully raises financial risk and reduces flexibility if growth slows.

Income Statement

Strong, consistent profitability with healthy margins (2024 gross margin ~33.8% and net margin ~15.9%), and solid multi-year revenue expansion (2024 up ~21% vs. 2023). Operating profit has scaled well alongside revenue, supporting a high-quality earnings profile. Key watch-out: growth has been somewhat uneven year-to-year (slight revenue decline in 2023), and the step-up in scale into 2025 implies execution risk if end-demand normalizes.

Balance Sheet

Balance sheet is generally sound with sizable equity and strong shareholder returns (2024 return on equity ~24.8%). Leverage was moderate in 2023–2024 (debt-to-equity ~0.52–0.74), supporting financial flexibility. Primary weakness is the sharp increase in total debt in 2025 (to ~$15.5B from ~$7.3B in 2024), which meaningfully raises balance-sheet risk and reduces room for error if cash generation slows.

Cash Flow

Cash generation is strong and improving, with 2025 free cash flow of ~$4.38B and a robust ~23% free-cash-flow growth rate. In prior years, free cash flow generally tracked earnings reasonably well (e.g., 2024 free cash flow was ~76% of net income), indicating solid cash conversion. Main weakness: cash conversion and growth can fluctuate (free cash flow growth was essentially flat in 2024), which bears monitoring alongside the higher 2025 debt load.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	23.09B	15.22B	12.55B	12.62B	10.88B
Gross Profit	8.52B	5.14B	4.08B	4.03B	3.40B
EBITDA	6.89B	3.80B	3.00B	2.99B	2.50B
Net Income	4.27B	2.42B	1.93B	1.90B	1.59B
Balance Sheet
Total Assets	36.24B	21.44B	16.53B	15.33B	14.68B
Cash, Cash Equivalents and Short-Term Investments	11.43B	3.34B	1.66B	1.43B	1.24B
Total Debt	15.50B	7.28B	4.64B	4.87B	5.05B
Total Liabilities	22.73B	11.58B	8.10B	8.23B	8.30B
Stockholders Equity	13.41B	9.79B	8.35B	7.02B	6.30B
Cash Flow
Free Cash Flow	4.38B	2.15B	2.16B	1.79B	1.18B
Operating Cash Flow	5.37B	2.81B	2.53B	2.17B	1.54B
Investing Cash Flow	-5.08B	-2.65B	-1.39B	-731.10M	-1.89B
Financing Cash Flow	7.42B	1.73B	-1.01B	-1.20B	-145.20M

Amphenol Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 151.04
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 151.04 is above the 20-day moving average (MA) of 145.98, above the 50-day MA of 142.31, and above the 200-day MA of 119.56, indicating a bullish trend. The MACD of 1.29 indicates Negative momentum. The RSI at 56.39 is Neutral, neither overbought nor oversold. The STOCH value of 89.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APH.

Amphenol Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GRMN	84 Outperform	$45.67B	27.63	19.78%	1.70%	16.56%	3.19%
TDY	77 Outperform	$31.11B	35.25	8.92%	―	7.41%	-12.85%
KEYS	77 Outperform	$41.14B	49.04	15.82%	―	7.95%	39.54%
APH	76 Outperform	$181.59B	44.19	36.80%	0.54%	47.37%	72.30%
TEL	71 Outperform	$69.14B	33.98	16.27%	1.21%	8.94%	-39.90%
GLW	70 Outperform	$113.26B	72.04	14.19%	1.25%	18.27%	771.78%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Amphenol Corporate Events

Amphenol Announces Leadership Transition and Board Succession Plan

Amphenol Corporation announced on February 4, 2026, that long-time leader Martin H. Loeffler, who has served the company for more than five decades including roles as President, Chief Executive Officer and Chairman of the Board since 1997, will retire from the Board effective at the company’s 2026 Annual Meeting of Stockholders expected in May 2026, with the company emphasizing that his retirement is not due to any disagreement over operations, policies or practices. As part of a planned board succession, the directors have appointed current President and Chief Executive Officer R. Adam Norwitt as Chairman of the Board effective at that same meeting, consolidating leadership roles and signaling continuity in Amphenol’s entrepreneurial culture and strategic direction, while Director David P. Falck will continue to serve in an enhanced governance role as Lead Independent Director, a move likely aimed at balancing strong executive leadership with independent oversight for shareholders.

The most recent analyst rating on (APH) stock is a Buy with a $180.00 price target. To see the full list of analyst forecasts on Amphenol stock, see the APH Stock Forecast page.

Amphenol Completes Major Acquisition of CommScope CCS Business

On January 9, 2026, Amphenol Corporation completed its $10.5 billion cash acquisition of CommScope’s Connectivity and Cable Solutions (CCS) business, a deal announced publicly in a January 12, 2026 statement from its Wallingford, Connecticut headquarters. The transaction significantly expands Amphenol’s fiber optic interconnect capabilities for IT datacom and communications networks and broadens its industrial interconnect offerings for building infrastructure, while bringing approximately 20,000 CCS employees into the group. The CCS unit, now folded into Amphenol’s Communications Solutions segment, is expected to generate around $4.1 billion in sales in 2026 and strengthen the company’s competitive position across global communications and industrial connectivity markets.

The most recent analyst rating on (APH) stock is a Buy with a $175.00 price target. To see the full list of analyst forecasts on Amphenol stock, see the APH Stock Forecast page.

Amphenol Appoints Linde CEO Sanjiv Lamba to Board

On January 8, 2026, Amphenol Corporation expanded its board of directors from eight to nine members and appointed Sanjiv Lamba, the chief executive officer of industrial gases and engineering group Linde plc, as an independent director, effective immediately. The appointment adds nearly three decades of global leadership and multinational manufacturing experience to Amphenol’s board, with company leaders highlighting Lamba’s track record in growing a high-performance, international business and his broad regional operating expertise across the Americas, APAC and EMEA as strategic assets expected to support Amphenol’s continued international expansion and reinforce its governance and leadership bench for stakeholders.

The most recent analyst rating on (APH) stock is a Buy with a $150.00 price target. To see the full list of analyst forecasts on Amphenol stock, see the APH Stock Forecast page.

Amphenol Issues $7.5 Billion in Senior Notes

On November 10, 2025, Amphenol Corporation successfully issued and sold a total of $7.5 billion in senior notes with varying interest rates and maturity dates ranging from 2027 to 2055. The proceeds from this offering, combined with other financial resources, are intended to fund the acquisition of CommScope Holding Company’s Connectivity and Cable Solutions businesses, enhancing Amphenol’s market position in data center connectivity, broadband communications, and building connectivity solutions.

The most recent analyst rating on (APH) stock is a Buy with a $152.00 price target. To see the full list of analyst forecasts on Amphenol stock, see the APH Stock Forecast page.