Latest Ratios: P/E Ratio 47.5x · EV/EBITDA 28.9x · ROE 36.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $195.0B | $172.6B | $87.8B | $61.5B | $47.3B | $54.7B | $40.2B | $33.3B | $25.3B | $27.8B | $21.2B |
| Enterprise Value | $199.4B | $177.0B | $91.7B | $64.7B | $50.8B | $58.6B | $42.6B | $36.2B | $27.6B | $29.6B | $23.2B |
| P/E Ratio → | 47.49 | 40.46 | 36.17 | 31.78 | 24.88 | 34.43 | 33.36 | 28.79 | 21.10 | 42.21 | 25.45 |
| P/S Ratio | 8.44 | 7.48 | 5.76 | 4.90 | 3.75 | 5.03 | 4.68 | 4.05 | 3.09 | 3.96 | 3.37 |
| P/B Ratio | 15.00 | 12.78 | 8.90 | 7.30 | 6.67 | 8.58 | 7.38 | 7.25 | 6.23 | 6.87 | 5.69 |
| P/FCF | 44.54 | 39.43 | 40.83 | 28.54 | 26.40 | 46.37 | 30.57 | 27.61 | 31.58 | 30.28 | 23.89 |
| P/OCF | 36.28 | 32.12 | 31.18 | 24.33 | 21.74 | 35.52 | 25.26 | 22.19 | 22.77 | 24.29 | 19.66 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.66 | 6.03 | 5.15 | 4.02 | 5.38 | 4.95 | 4.41 | 3.37 | 4.22 | 3.68 |
| EV / EBITDA | 28.92 | 25.67 | 23.78 | 21.56 | 16.93 | 22.78 | 21.76 | 18.52 | 13.85 | 17.85 | 15.89 |
| EV / EBIT | 33.38 | 29.66 | 28.41 | 24.94 | 19.56 | 27.82 | 25.95 | 22.47 | 16.34 | 20.50 | 19.08 |
| EV / FCF | — | 40.43 | 42.67 | 30.01 | 28.36 | 49.64 | 32.39 | 30.02 | 34.44 | 32.27 | 26.11 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9% | 36.9% | 33.8% | 32.5% | 31.9% | 31.3% | 31.0% | 31.8% | 32.4% | 32.9% | 32.5% |
| Operating Margin | 25.9% | 25.9% | 21.6% | 20.7% | 20.7% | 20.0% | 19.2% | 20.0% | 20.7% | 20.4% | 19.7% |
| Net Profit Margin | 18.5% | 18.5% | 15.9% | 15.4% | 15.1% | 14.6% | 14.0% | 14.0% | 14.7% | 9.3% | 13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.6% | 36.6% | 26.5% | 24.8% | 28.2% | 26.9% | 24.0% | 26.7% | 29.7% | 16.8% | 23.5% |
| ROA | 14.8% | 14.8% | 12.8% | 12.1% | 12.7% | 11.8% | 10.4% | 11.1% | 12.0% | 7.0% | 10.3% |
| ROIC | 28.3% | 28.3% | 19.4% | 17.5% | 18.8% | 18.1% | 16.1% | 17.8% | 20.8% | 18.6% | 18.5% |
| ROCE | 25.5% | 25.5% | 21.4% | 19.9% | 21.0% | 19.6% | 17.6% | 20.2% | 21.2% | 18.7% | 18.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.15 | 1.15 | 0.74 | 0.55 | 0.69 | 0.79 | 0.75 | 0.83 | 0.88 | 0.88 | 0.81 |
| Debt / EBITDA | 2.25 | 2.25 | 1.89 | 1.55 | 1.62 | 1.96 | 2.09 | 1.95 | 1.79 | 2.14 | 2.07 |
| Net Debt / Equity | — | 0.32 | 0.40 | 0.38 | 0.49 | 0.60 | 0.44 | 0.63 | 0.56 | 0.45 | 0.53 |
| Net Debt / EBITDA | 0.63 | 0.63 | 1.03 | 1.06 | 1.17 | 1.50 | 1.22 | 1.49 | 1.15 | 1.10 | 1.36 |
| Debt / FCF | — | 1.00 | 1.84 | 1.47 | 1.95 | 3.27 | 1.82 | 2.41 | 2.86 | 1.99 | 2.23 |
| Interest Coverage | 16.23 | 16.23 | 14.88 | 18.60 | 20.22 | 18.22 | 14.23 | 13.72 | 16.62 | 15.65 | 16.72 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.98 | 2.98 | 2.37 | 2.17 | 2.42 | 2.43 | 2.38 | 1.97 | 1.86 | 2.95 | 2.20 |
| Quick Ratio | 2.48 | 2.48 | 1.75 | 1.48 | 1.64 | 1.66 | 1.75 | 1.36 | 1.36 | 2.25 | 1.63 |
| Cash Ratio | 1.68 | 1.68 | 0.82 | 0.53 | 0.54 | 0.51 | 0.75 | 0.43 | 0.53 | 1.11 | 0.72 |
| Asset Turnover | — | 0.64 | 0.71 | 0.76 | 0.82 | 0.74 | 0.70 | 0.76 | 0.82 | 0.70 | 0.74 |
| Inventory Turnover | 4.26 | 4.26 | 3.96 | 3.91 | 4.11 | 3.95 | 4.06 | 4.28 | 4.50 | 4.25 | 4.57 |
| Days Sales Outstanding | — | 74.55 | 78.84 | 76.12 | 76.09 | 82.38 | 82.84 | 77.05 | 79.74 | 83.22 | 78.34 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.5% | 0.7% | 0.8% | 1.0% | 0.6% | 0.7% | 0.8% | 1.0% | 0.7% | 0.8% |
| Payout Ratio | 18.8% | 18.8% | 24.6% | 26.0% | 25.1% | 21.8% | 24.7% | 24.2% | 21.1% | 31.5% | 21.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.1% | 2.5% | 2.8% | 3.1% | 4.0% | 2.9% | 3.0% | 3.5% | 4.7% | 2.4% | 3.9% |
| FCF Yield | 2.2% | 2.5% | 2.4% | 3.5% | 3.8% | 2.2% | 3.3% | 3.6% | 3.2% | 3.3% | 4.2% |
| Buyback Yield | 0.3% | 0.4% | 0.8% | 1.0% | 1.5% | 1.2% | 1.6% | 1.8% | 3.7% | 2.2% | 1.5% |
| Total Shareholder Yield | 0.7% | 0.9% | 1.5% | 1.8% | 2.6% | 1.8% | 2.3% | 2.6% | 4.7% | 3.0% | 2.4% |
| Shares Outstanding | — | $1.3B | $1.3B | $1.2B | $1.2B | $1.3B | $1.2B | $1.2B | $1.3B | $1.3B | $1.3B |
Inorganic growth integration risk
With a TTM P/E of 49.02, Amphenol trades at a significant premium to peers like TE Connectivity, suggesting that investors are pricing in an aggressive growth trajectory following the recent surge in revenue and the company's pivot toward larger, more transformative acquisition-led expansion strategies.
The current valuation multiples appear to bake in high expectations for sustained top-line acceleration, potentially overlooking the integration risks inherent in the company's recent shift toward larger-scale M&A. While the PEG ratio of 1.76 suggests a growth-adjusted premium, the market may be overestimating the long-term margin stability of these newly acquired assets.
Based on the latest quarterly data, ROIC has trended toward 5.9% in 2026Q1, a notable decline from historical levels that reflects the dilutive impact of massive goodwill accumulation following the company's recent, more aggressive capital deployment strategy compared to its traditional bolt-on approach.
The compression in return on invested capital warrants close monitoring, as it suggests that the returns generated by recent large-scale acquisitions are not yet matching the historical efficiency of the company's core business units. Investors should investigate whether this represents a temporary integration lag or a structural shift in the company's ability to compound capital.
As reported in recent financial statements, the cash conversion cycle has fluctuated, reaching 78 days in 2026Q1, which indicates that the company's rapid inorganic growth is placing increased pressure on working capital management compared to the more stable cycles observed in previous fiscal periods.
The increase in days inventory outstanding and days sales outstanding suggests that the company's decentralized units may be facing challenges in maintaining historical efficiency levels during this period of rapid scaling. This trend warrants further investigation to determine if it reflects supply chain bottlenecks or a change in customer payment terms.
The market frequently misapplies traditional cyclical hardware valuation metrics to Amphenol, failing to account for the company's unique decentralized model which functions more like a diversified industrial software provider than a standard component manufacturer, thereby obscuring its true pricing power and earnings quality.
Analysts often focus on P/S or P/E ratios without adjusting for the quasi-recurring nature of the company's design-in revenue, which provides a level of insulation from commodity cycles that peers lack. A more appropriate approach would be to evaluate the company based on its ability to maintain high operating margins through diverse end-market exposure rather than treating it as a pure-play hardware cyclical.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying APH stock.
Amphenol Corporation's current P/E ratio is 47.5x. The historical average is 25.6x. This places it at the 97th percentile of its historical range.
Amphenol Corporation's current EV/EBITDA is 28.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.4x.
Amphenol Corporation's return on equity (ROE) is 36.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 54.4%.
Based on historical data, Amphenol Corporation is trading at a P/E of 47.5x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Amphenol Corporation's current dividend yield is 0.40% with a payout ratio of 18.8%.
Amphenol Corporation has 36.9% gross margin and 25.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Amphenol Corporation's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.