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Amphenol Corp Class A APH

Morningstar Rating
$110.81 +1.57 (1.44%)
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Company Report

Amphenol Earnings: Excellent Quarterly Results Drive Our Valuation Up to $87 From $83

We raise our fair value estimate for Amphenol to $87 per share, from $83, after beating our fourth-quarter expectations on all fronts. Amphenol’s strong top-line performance in the quarter exemplifies its strong end market diversity, in our view, and continued share gains. We also laud the firm for terrific quarterly profitability once again, showing its structurally low cost structure compared with peers that supports its wide economic moat. We continue to see shares as overvalued, despite our raised valuation. Shares hit all-time highs following the firm’s fourth-quarter release, and we recommend investors wait for a pullback to commit capital to the blue-chip component supplier.

Price vs Fair Value

APH is trading at a 27% premium.
Price
$110.81
Fair Value
$27.00
Uncertainty
Medium
1-Star Price
$515.75
5-Star Price
$31.40
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

No industry vertical represents more than 25% of Amphenol’s revenue, which insulates it from individual end market downturns.

Bears

Amphenol relies on bolt-on M&A to maintain its top-line growth, and rising valuations could cause it to overpay for a target or make an ill-advised purchase altogether.

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News

Trading Information

Previous Close Price
$109.24
Day Range
$108.95110.88
52-Week Range
$72.00110.88
Bid/Ask
$110.09 / $111.20
Market Cap
$66.47 Bil
Volume/Avg
2.1 Mil / 2.6 Mil

Key Statistics

Price/Earnings (Normalized)
36.81
Price/Sales
5.48
Dividend Yield (Trailing)
0.77%
Dividend Yield (Forward)
0.79%
Total Yield
1.65%

Company Profile

Amphenol is a global supplier of connectors, sensors, and interconnect systems. Amphenol holds the second-largest connector market share globally and sells into the end markets of automotive, broadband, commercial air, industrial, IT and data communications, military, mobile devices, and mobile networks. Amphenol is diversified geographically, with operations in 40 countries.
Sector
Technology
Industry
Electronic Components
Stock Style Box
Large Core
Total Number of Employees
95,000

Competitors

Valuation

Metric
APH
BWA
ST
Price/Earnings (Normalized)
36.817.219.62
Price/Book Value
7.951.231.75
Price/Sales
5.480.511.30
Price/Cash Flow
28.814.908.56
Price/Earnings
APH
BWA
ST

Financial Strength

Metric
APH
BWA
ST
Quick Ratio
1.361.241.52
Current Ratio
2.171.652.55
Interest Coverage
18.6014.100.93
Quick Ratio
APH
BWA
ST

Profitability

Metric
APH
BWA
ST
Return on Assets (Normalized)
11.95%5.84%6.59%
Return on Equity (Normalized)
24.58%13.81%17.52%
Return on Invested Capital (Normalized)
16.36%8.58%9.63%
Return on Assets
APH
BWA
ST
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