Amphenol CorporationAPH
NYSE•Technology•Electronic Components
Amphenol Corporation, together with its subsidiaries, designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Communications Solutions, Harsh Environment Solutions, and Interconnect and Sensor Systems. The company offers connectors and connector systems, including high speed, radio frequency, power, fiber optic and other interconnect products; busbars and power distribution systems; power interconnect products; and other products. It also provides value-add products, such as backplane interconnect systems, cable assemblies and harnesses, and cable management products; and 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, commercial aerospace, communications networks, defense, industrial, information technology and data communications, mobile devices markets. Additionally, the company provides telecommunication and IT networking solutions. The company was founded in 1932 and is headquartered in Wallingford, Connecticut.
Amphenol Corporation (APH) reported trailing twelve months revenue of $25.90B as of March 2026, a 54.4% increase year-over-year. Quarterly revenue reached $7.62B, reflecting continued top-line momentum.
Amphenol Corporation generated $4.48B in TTM net income, with quarterly EBITDA of $2.32B. The operating margin expanded from 22.2% to 24.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (24.0%) and net margin (12.4%) indicates moderate non-operating costs. Net margin has narrowed from 15.3% a year ago, reflecting increased costs or interest expense.
APH trades at a P/E of 34.3x (a premium multiple) and a P/S of 5.9x. The price-to-book ratio of 11.0x indicates a significant premium over book value.
The company generated $829.90M in free cash flow over the trailing twelve months, a 44.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $42.13B in total assets with $16.64B in long-term debt against $13.98B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~24.0%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 27.3% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~93.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~26.1% — no sign of cost or pricing stress.
FCF covers net income by 0.9x on average — earnings are well-supported by cash generation.
Debt-to-equity has risen 79.9% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation