APH
Amphenol Corporation

Amphenol CorporationAPH

Technology · Electronic Components
74.59USD
+4.12%
Nov 08, 2026
APH overview ready
Supplier of high-speed and thermal interconnects for AI data centers
Amphenol is a diversified interconnect component supplier to AI data-center infrastructure, supplying high-speed, power, fiber and liquid-cooling-adjacent connection systems rather than operating data centers or selling AI accelerators.
Primary theme is lagging
Connectors & Electronic Components is lagging (-11.9pp vs SPY over 21 sessions; 2 of 8 members ahead of SPY).
Price structure is giving way
Longer-term context reads near trend floor, with a near-term setup of failed reclaim.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Exposure to cyclical technology capital spending.
Market Nov 6Filing Sep 30Price action Nov 7Research Sep 28

Conviction Level

PriceAction6.0BusinessPerformance9.0BusinessQuality8.5Valuation5.3ThemeMomentum1.0Accelerating — Revenue growth has accelerated, rising from +55% to +65% year over year. Diluted EPS is up 61% year over year at $0.79. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−11.9pp
Theme return
−16.9%
Beating SPY
2 of 8
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price structure is giving way
Longer-term context reads near trend floor, with a near-term setup of failed reclaim.
EntryConstructive

Structure is constructive, but price remains well extended from the long-term weekly base and the earlier reset has already been partly recovered — a workable rather than ideal entry location.

Key Financials

Market Cap
$184.2B
Avg Volume (60D)
13.1M
60 sessions
Revenue Growth YoY
+51.7%
FY2025 vs FY2024
Gross Margin
+38.8%
Trailing twelve months
Operating Margin
+27.7%
Trailing twelve months
Free Cash Flow Yield
+2.8%
Distance from 200DMA
-0.9%
Next Earnings
2027-01-27
P/E
31.0x
EV / EBITDA
18.6x
EV / Sales
6.0x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Accelerating

Revenue growth has accelerated, rising from +55% to +65% year over year. Diluted EPS is up 61% year over year at $0.79.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+65%
$10.2B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +49%
  2. +58%
  3. +55%
  4. +65%
Earnings growthGrowing
+61%
Diluted EPS $0.79 vs $0.49 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +58%
  2. +24%
  3. +59%
  4. +61%
Operating marginExpanding
29.5%
+2.0 pp YoY · gross margin 39.3% (+1.2 pp)

Business Quality

8.5 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
Amphenol Corporation has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Amphenol is a diversified interconnect component supplier to AI data-center infrastructure, supplying high-speed, power, fiber and liquid-cooling-adjacent connection systems rather than operating data centers or selling AI accelerators.
Opportunity
Moderate opportunity
AI-cluster and data-center buildouts require high-speed electrical and optical connectivity, signal-integrity components, and associated power and thermal interconnects as rack density and fabric bandwidth rise.
Key risk
Exposure to cyclical technology capital spending.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Electronic Components
What they do

Amphenol Corporation designs, manufactures, and markets electrical, electronic, and fiber optic connectors and interconnect systems globally through its subsidiaries and operates across three main segments.

How it earns

The company generates revenue primarily through transactional sales of connectors and interconnect products to industrial and technology customers.

Products & services
High-speed connectors
Radio frequency connectors
Power connectors
Fiber optic connectors
Busbars and power distribution systems
Liquid-cooling-adjacent connectors and assemblies
Customers & end markets
Data center operators and infrastructure providers
Communications equipment manufacturers
Industrial and harsh environment equipment makers
Market position

Leader in diversified interconnect components serving multiple technology and industrial markets.

Demand drivers
Medium cyclicality

Demand is influenced by technology investment cycles and industrial capital spending but supported by structural growth in data centers and communications.