APH
AMPHENOL CORP /DE/
Technology • CIK: 0000820313
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Market Cap
$150.20B
P/E (TTM)
39.4x
Rev Growth (TTM)
+47.4%
Net Margin (TTM)
18.2%
FCF Yield (TTM)
2.4%
FCF Margin (TTM)
17.0%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$3.6B
Q3 '25
$1.2B+8%
Q2 '25
$1.1B+94%
FCF Margin
TTM17.0%
Q3 '2519.6%-1%
Sector: 14.5%Above Avg
OCF Margin21.5%
OCF/NI1.18x
CapEx Coverage4.8x
FCF Yield2.4%
FCF Growth (2Y)+32%
Cash Conversion Cycle
88 days
DSO: 67+DIO: 78−DPO: 57
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM1.0%
Div Yield0.5%
+Buyback (TTM)0.4%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.5%
FCF Payout Ratio22.5%
Free Cash Flow (TTM)$3.6B
Stock Repurchases (TTM)$662.8M
Capital Return / FCF41.1%
Est. Dividends Paid (TTM)$801.1M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
27.8%
Stable
+0.3% YoY+9.4%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
19.3%
8Q: 17.0%
Asset Turnover
0.90x
8Q: 0.84x
Leverage (1+D/E)
1.57x
D/E: 0.57x
DuPont: 27.2% ≈ 27.8% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
11.15x
8Q:10.30x
+141.9%
Invested Cap Turn
1.44x
8Q:1.31x
+30.5%
CapEx Intensity
6.5%
8Q:5.7%
CapEx/Depreciation
1.15x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $21.0B | $6.2B↑9.6% | $5.7B↑17.4% | $4.8B↑11.4% | $4.3B↑6.9% | $4.0B↑11.9% | $3.6B↑10.9% | $3.3B↓2.1% | $3.3B |
Operating Income | $5.1B | $1.7B↑20.0% | $1.4B↑38.4% | $1.0B↑7.5% | $953.7M↑16.4% | $819.5M↑17.3% | $698.8M↑2.0% | $684.8M↓0.8% | $690.0M |
Net Income | $3.8B | $1.2B↑14.1% | $1.1B↑47.9% | $737.8M↓1.1% | $746.2M↑23.5% | $604.4M↑15.2% | $524.8M↓4.4% | $548.7M↑6.7% | $514.4M |
Operating Cash Flow | $4.5B | $1.5B↑3.8% | $1.4B↑85.2% | $764.9M↓9.7% | $847.1M↑20.3% | $704.0M↑6.0% | $664.1M↑10.8% | $599.5M↓28.8% | $841.8M |
Free Cash Flow | $3.6B | $1.2B↑8.4% | $1.1B↑94.3% | $576.3M↓11.0% | $647.3M↑36.6% | $474.0M↓9.3% | $522.8M↑3.5% | $505.2M↓31.4% | $736.8M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
39.4x
Valuation Lenses
Earnings
39.4x
vs – sector
Cash Flow
7.0x
EV/FCF vs –
Growth-Adj
0.5xPEG
Undervalued for growth
Quality-Adj
1.4P/E per %ROIC
ROIC: 27.8%
Shareholder Returns
Dividend
0.5%
Buyback
0.4%
Total Yield
1.0%
Market Cap$150.20B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
94/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
35.9%
8Q:–
Return on Invested Capital (ROIC)Top 25%
27.8%
8Q:–
+9.4%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 19.3%
Asset Turnover: 0.90x
Earnings Quality
Cash Conversion
1.18x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin35.9%
Capital Efficiency
Invested Capital Turnover1.44x
Working Capital
Cash Conversion Cycle88 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
80/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
47.4%
OpInc Growth YoY
107.7%
EPS Growth YoY
72.4%
FCF 3Y CAGR
31.5%
Growth Quality Analysis
⚠Working Capital Drag: FCF growth lagging revenue by 15.8%
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
35.9%
Operating
24.3%
Top 25% in sector
Net
18.2%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-1.3 pts
FCF: 17.0% | Net: 18.2%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $3.24B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.57x
Balance sheet risk & solvency analysis