Amphenol Corp Financials
This page shows Amphenol Corp (APH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Amphenol’s FY2025 growth engine was externally financed expansion that still converted into unusually clean cash generation.
FY2025 looks like an acquisition-heavy step-up: long-term debt climbed to$14.6B while goodwill reached$10.6B . Yet free cash flow still slightly exceeded net income at$4.4B versus$4.3B , implying the larger asset base was already producing cash rather than merely inflating accounting earnings.
The striking part of the FY2024-to-FY2025 scale jump is that it came with margin expansion, not dilution. Gross margin moved from
This remains a low-capex cash model relative to its size: capital spending was about
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Amphenol Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Amphenol Corp has an operating margin of 25.4%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 90/100, reflecting efficient cost management and pricing power. This is up from 20.7% the prior year.
Amphenol Corp's revenue surged 51.7% year-over-year to $23.1B, reflecting rapid business expansion. This strong growth earns a score of 91/100.
Amphenol Corp has a moderate D/E ratio of 1.09. This balance of debt and equity financing earns a leverage score of 60/100.
With a current ratio of 2.98, Amphenol Corp holds $2.98 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Amphenol Corp converts 19.0% of revenue into free cash flow ($4.4B). This strong cash generation earns a score of 83/100.
Amphenol Corp earns a strong 31.8% return on equity (ROE), meaning it generates $32 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 91/100. This is up from 24.8% the prior year.
Amphenol Corp scores 7.27, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($199.6B) relative to total liabilities ($22.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Amphenol Corp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Amphenol Corp generates $1.26 in operating cash flow ($5.4B OCF vs $4.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Amphenol Corp earns $16.0 in operating income for every $1 of interest expense ($5.9B vs $367.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Amphenol Corp generated $23.1B in revenue in fiscal year 2025. This represents an increase of 51.7% from the prior year.
Amphenol Corp's EBITDA was $6.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 82.1% from the prior year.
Amphenol Corp reported $4.3B in net income in fiscal year 2025. This represents an increase of 76.2% from the prior year.
Amphenol Corp earned $3.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 74.0% from the prior year.
Cash & Balance Sheet
Amphenol Corp generated $4.4B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 103.7% from the prior year.
Amphenol Corp held $11.1B in cash against $14.6B in long-term debt as of fiscal year 2025.
Amphenol Corp paid $0.74 per share in dividends in fiscal year 2025. This represents an increase of 35.5% from the prior year.
Amphenol Corp had 1.23B shares outstanding in fiscal year 2025. This represents an increase of 1.5% from the prior year.
Margins & Returns
Amphenol Corp's gross margin was 36.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.1 percentage points from the prior year.
Amphenol Corp's operating margin was 25.4% in fiscal year 2025, reflecting core business profitability. This is up 4.7 percentage points from the prior year.
Amphenol Corp's net profit margin was 18.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.6 percentage points from the prior year.
Amphenol Corp's ROE was 31.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.1 percentage points from the prior year.
Capital Allocation
Amphenol Corp invested $647.0M in research and development in fiscal year 2025. This represents an increase of 42.8% from the prior year.
Amphenol Corp spent $665.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 3.5% from the prior year.
Amphenol Corp invested $996.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 49.8% from the prior year.
APH Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6B+18.3% | $6.4B+4.0% | $6.2B+9.6% | $5.7B+17.4% | $4.8B+11.4% | $4.3B+6.9% | $4.0B+11.9% | $3.6B |
| Cost of Revenue | $4.8B+21.2% | $4.0B+3.7% | $3.8B+6.6% | $3.6B+13.6% | $3.2B+11.6% | $2.8B+5.8% | $2.7B+11.9% | $2.4B |
| Gross Profit | $2.8B+13.8% | $2.5B+4.3% | $2.4B+14.9% | $2.1B+24.9% | $1.6B+11.0% | $1.5B+9.1% | $1.4B+11.9% | $1.2B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $851.5M+23.2% | $691.0M+5.2% | $657.0M+5.5% | $622.5M+8.2% | $575.2M+11.7% | $514.9M+4.7% | $492.0M+10.7% | $444.3M |
| Operating Income | $1.8B+6.3% | $1.7B+1.2% | $1.7B+20.0% | $1.4B+38.4% | $1.0B+7.4% | $953.8M+16.4% | $819.5M+17.3% | $698.8M |
| Interest Expense | $207.9M+60.3% | $129.7M+60.7% | $80.7M-0.2% | $80.9M+5.8% | $76.5M+14.3% | $66.9M+20.1% | $55.7M-1.1% | $56.3M |
| Income Tax | $702.4M+58.3% | $443.6M+15.0% | $385.8M+56.0% | $247.3M+13.1% | $218.7M+38.1% | $158.4M-4.6% | $166.1M+22.9% | $135.1M |
| Net Income | $933.0M-21.9% | $1.2B-4.1% | $1.2B+14.1% | $1.1B+47.9% | $737.8M-1.1% | $746.1M+23.4% | $604.4M+15.2% | $524.8M |
| EPS (Diluted) | $0.72 | N/A | $0.97+12.8% | $0.86+48.3% | $0.58 | N/A | $0.48+17.1% | $0.41 |
APH Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $42.1B+16.3% | $36.2B+33.5% | $27.1B+5.7% | $25.7B+12.1% | $22.9B+6.8% | $21.4B+9.5% | $19.6B+5.4% | $18.6B |
| Current Assets | $15.4B-24.1% | $20.3B+63.7% | $12.4B+9.6% | $11.3B+23.7% | $9.1B-5.7% | $9.7B+24.6% | $7.8B+11.5% | $7.0B |
| Cash & Equivalents | $4.1B-62.9% | $11.1B+193.0% | $3.8B+18.5% | $3.2B+93.5% | $1.7B-50.0% | $3.3B+112.2% | $1.6B+24.8% | $1.3B |
| Inventory | $4.1B+19.3% | $3.4B+3.8% | $3.3B+5.2% | $3.1B+7.9% | $2.9B+14.2% | $2.5B-1.3% | $2.6B+7.5% | $2.4B |
| Accounts Receivable | $5.9B+24.5% | $4.7B+3.8% | $4.5B+6.4% | $4.3B+8.9% | $3.9B+19.2% | $3.3B+5.0% | $3.1B+9.6% | $2.9B |
| Goodwill | $17.5B+65.9% | $10.6B+7.2% | $9.9B+2.3% | $9.7B+4.1% | $9.3B+12.6% | $8.2B-1.4% | $8.4B+1.1% | $8.3B |
| Total Liabilities | $28.0B+23.4% | $22.7B+56.4% | $14.5B+3.3% | $14.1B+12.3% | $12.5B+8.2% | $11.6B+15.2% | $10.1B+5.5% | $9.5B |
| Current Liabilities | $9.0B+31.9% | $6.8B+13.7% | $6.0B+6.8% | $5.6B+22.1% | $4.6B+12.4% | $4.1B+4.7% | $3.9B+12.9% | $3.5B |
| Long-Term Debt | $16.6B+14.2% | $14.6B+104.3% | $7.1B+0.1% | $7.1B+4.5% | $6.8B+5.1% | $6.5B+27.6% | $5.1B+0.9% | $5.0B |
| Total Equity | $14.0B+4.2% | $13.4B+7.1% | $12.5B+8.7% | $11.5B+11.8% | $10.3B+5.2% | $9.8B+3.6% | $9.5B+5.3% | $9.0B |
| Retained Earnings | $10.4B+5.9% | $9.9B+7.6% | $9.2B+12.5% | $8.1B+9.3% | $7.4B+4.8% | $7.1B+5.3% | $6.8B+6.3% | $6.4B |
APH Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.1B-34.9% | $1.7B+17.1% | $1.5B+3.8% | $1.4B+85.2% | $764.9M-9.7% | $847.1M+20.3% | $704.0M+6.0% | $664.1M |
| Capital Expenditures | $291.6M+14.9% | $253.7M-1.4% | $257.2M-13.4% | $297.1M+57.5% | $188.6M-5.6% | $199.8M-13.1% | $230.0M+62.8% | $141.3M |
| Free Cash Flow | $829.9M-43.5% | $1.5B+21.0% | $1.2B+8.4% | $1.1B+94.3% | $576.3M-11.0% | $647.3M+36.6% | $474.0M-9.3% | $522.8M |
| Investing Cash Flow | -$11.0B-633.7% | -$1.5B-144.7% | -$614.4M-0.5% | -$611.6M+74.0% | -$2.4B-839.5% | -$250.4M-23.7% | -$202.5M+90.7% | -$2.2B |
| Financing Cash Flow | $2.9B-59.0% | $7.1B+2757.6% | -$266.3M-138.0% | $700.9M+891.1% | -$88.6M-107.3% | $1.2B+633.4% | -$227.6M-124.7% | $919.6M |
| Dividends Paid | $306.7M+51.9% | $201.9M+0.3% | $201.2M+0.8% | $199.6M+0.1% | $199.5M+0.3% | $198.9M+50.2% | $132.4M+0.2% | $132.1M |
| Share Buybacks | $178.0M+3.9% | $171.3M+12.0% | $152.9M-4.5% | $160.1M-11.5% | $180.9M+7.1% | $168.9M-4.1% | $176.2M-7.5% | $190.4M |
APH Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.8%-1.5pp | 38.2%+0.1pp | 38.1%+1.8pp | 36.3%+2.2pp | 34.2%-0.1pp | 34.3%+0.7pp | 33.6%0.0pp | 33.6% |
| Operating Margin | 24.0%-2.7pp | 26.8%-0.7pp | 27.5%+2.4pp | 25.1%+3.8pp | 21.3%-0.8pp | 22.1%+1.8pp | 20.3%+0.9pp | 19.4% |
| Net Margin | 12.2%-6.3pp | 18.6%-1.6pp | 20.1%+0.8pp | 19.3%+4.0pp | 15.3%-1.9pp | 17.3%+2.3pp | 15.0%+0.4pp | 14.5% |
| Return on Equity | 6.7%-2.2pp | 8.9%-1.0pp | 10.0%+0.5pp | 9.5%+2.3pp | 7.2%-0.5pp | 7.6%+1.2pp | 6.4%+0.5pp | 5.8% |
| Return on Assets | 2.2%-1.1pp | 3.3%-1.3pp | 4.6%+0.3pp | 4.3%+1.0pp | 3.2%-0.3pp | 3.5%+0.4pp | 3.1%+0.3pp | 2.8% |
| Current Ratio | 1.71-1.3 | 2.98+0.9 | 2.07+0.1 | 2.02+0.0 | 1.99-0.4 | 2.37+0.4 | 1.99-0.0 | 2.02 |
| Debt-to-Equity | 1.19+0.1 | 1.09+0.5 | 0.57-0.0 | 0.62-0.0 | 0.660.0 | 0.66+0.1 | 0.54-0.0 | 0.56 |
| FCF Margin | 10.9%-11.9pp | 22.8%+3.2pp | 19.6%-0.2pp | 19.8%+7.8pp | 12.0%-3.0pp | 15.0%+3.3pp | 11.7%-2.7pp | 14.5% |
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Frequently Asked Questions
What is Amphenol Corp's annual revenue?
Amphenol Corp (APH) reported $23.1B in total revenue for fiscal year 2025. This represents a 51.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Amphenol Corp's revenue growing?
Amphenol Corp (APH) revenue grew by 51.7% year-over-year, from $15.2B to $23.1B in fiscal year 2025.
Is Amphenol Corp profitable?
Yes, Amphenol Corp (APH) reported a net income of $4.3B in fiscal year 2025, with a net profit margin of 18.5%.
What is Amphenol Corp's EBITDA?
Amphenol Corp (APH) had EBITDA of $6.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Amphenol Corp have?
As of fiscal year 2025, Amphenol Corp (APH) had $11.1B in cash and equivalents against $14.6B in long-term debt.
What is Amphenol Corp's gross margin?
Amphenol Corp (APH) had a gross margin of 36.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Amphenol Corp's operating margin?
Amphenol Corp (APH) had an operating margin of 25.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Amphenol Corp's net profit margin?
Amphenol Corp (APH) had a net profit margin of 18.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Amphenol Corp pay dividends?
Yes, Amphenol Corp (APH) paid $0.74 per share in dividends during fiscal year 2025.
What is Amphenol Corp's return on equity (ROE)?
Amphenol Corp (APH) has a return on equity of 31.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Amphenol Corp's free cash flow?
Amphenol Corp (APH) generated $4.4B in free cash flow during fiscal year 2025. This represents a 103.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Amphenol Corp's operating cash flow?
Amphenol Corp (APH) generated $5.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Amphenol Corp's total assets?
Amphenol Corp (APH) had $36.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Amphenol Corp's capital expenditures?
Amphenol Corp (APH) invested $996.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Amphenol Corp spend on research and development?
Amphenol Corp (APH) invested $647.0M in research and development during fiscal year 2025.
What is Amphenol Corp's current ratio?
Amphenol Corp (APH) had a current ratio of 2.98 as of fiscal year 2025, which is generally considered healthy.
What is Amphenol Corp's debt-to-equity ratio?
Amphenol Corp (APH) had a debt-to-equity ratio of 1.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Amphenol Corp's return on assets (ROA)?
Amphenol Corp (APH) had a return on assets of 11.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Amphenol Corp's Altman Z-Score?
Amphenol Corp (APH) has an Altman Z-Score of 7.27, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Amphenol Corp's Piotroski F-Score?
Amphenol Corp (APH) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Amphenol Corp's earnings high quality?
Amphenol Corp (APH) has an earnings quality ratio of 1.26x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Amphenol Corp cover its interest payments?
Amphenol Corp (APH) has an interest coverage ratio of 16.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Amphenol Corp?
Amphenol Corp (APH) scores 82 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.