# Amphenol Corporation (APH) — Stock CV

Amphenol Corporation is a $215B technology company. Revenue grew 54.2% over the last year, it keeps 18¢ of every dollar of sales as profit, and its net debt equals ~0.9 years of free cash flow. It trades at 41.8× earnings — in the most expensive third of its own history.

> Amphenol is a global supplier of connectors, sensors, and interconnect systems. It holds the second-largest connector market share globally and sells into the automotive, broadband, commercial air, industrial, IT and data communications, military, mobile devices, and mobile networks end markets.

## Identity

- **Ticker**: APH
- **Sector**: Technology
- **Industry**: Electronic Connectors
- **Headquarters**: WALLINGFORD, CT
- **Employees**: 170 000
- **Website**: https://www.amphenol.com
- **Market cap**: $215B
- **Last price**: $87.20
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $29.0B
- **Net income**: $5.14B
- **Free cash flow**: $4.71B
- **Net debt**: $4.07B
- **P/E**: 41.8
- **Revenue growth (YoY)**: 54.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 27 |
| Growth | 100 |
| Profitability | 90 |
| Health | 80 |
| Quality | 81 |
| Moat | 81 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +54.2% YoY
- [x] Profitable — $5.14B TTM
- [x] Profit growing — +29.7% YoY
- [x] Generates cash — $4.71B TTM
- [x] Debt under control — ~0.9y of cash flow to repay
- [x] Established company — $215B market cap
- [x] Not printing shares — +3.9% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [x] Financially stable — Altman Z 5.9 — safe
- [x] Pays a dividend — yield 0.47%
- [x] Valuation not extreme — P/E 41.8

## Experience (career milestones)

- **2026** — Amphenol acquired the connectivity and cable business unit of CommScope for $10.5 billion
- **FY2025** — Best year on record: $4.27B net income
- **2025** — Amphenol acquired the Outdoor Wireless Networks and Distributed Antenna Systems businesses of…
- **2024** — Amphenol acquired Carlisle Interconnect Technology from Carlisle Companies for $2 billion
- **FY2021** — Revenue crossed $10B: $10.9B for the year
- **2021** — Amphenol acquired MTS Systems Corporation for $1.7 billion
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $1B: $6.29B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — Amphenol acquired FCI Asia from affiliates of Bain Capital for $1.275 billion
- **1967** — Bunker Ramo acquired the company and Amphenol operated as a subsidiary
- **1957** — The company became a public company via an initial public offering
- **1951** — Amphenol engineers, including Paul Neill and Carl Concelman, developed the BNC connector
- **1942** — The company was renamed Amphenol Electronics Corporation
- **1932** — Amphenol was founded as American Phenolic Corporation Chicago in 1932 by Arthur J

## Strengths

- Revenue growing 54.2% year over year
- Strong cash conversion — FCF is 16.2% of revenue
- Interest covered 16.2× by operating earnings
- High returns on invested capital (ROIC 24.4%)
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $10.9B | $1.59B | $1.18B |
| FY2022 | $12.6B | $1.90B | $1.79B |
| FY2023 | $12.6B | $1.93B | $2.16B |
| FY2024 | $15.2B | $2.42B | $2.15B |
| FY2025 | $23.1B | $4.27B | $4.38B |

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Source: https://stockcv.com/APH — derived from company filings; may be delayed or incomplete. Information, not investment advice.