Amphenol (APH) financial statements
Amphenol reported revenue of $23.1B in fiscal 2025, up 15.6% a year over 9 years.
Net income was $4.3B and the operating margin 25.4%, against 19.2% in 2016.
Free cash flow was $4.4B, and the company returned $802M in dividends and $665M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Amphenol's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.3B | $7.0B | $8.2B | $8.2B | $8.6B | $10.9B | $12.6B | $12.6B | $15.2B | $23.1B |
| Cost of revenue | $4.2B | $4.7B | $5.5B | $5.6B | $5.9B | $7.5B | $8.6B | $8.5B | $10.1B | $14.6B |
| Gross profit | $2.0B | $2.3B | $2.7B | $2.6B | $2.7B | $3.4B | $4.0B | $4.1B | $5.1B | $8.5B |
| Research and development | $166M | $194M | $221M | $234M | $261M | $318M | $324M | $342M | $453M | $647M |
| Selling, general and admin | $798M | $878M | $960M | $971M | $1.0B | $1.2B | $1.4B | $1.5B | $1.9B | $2.5B |
| Operating income | $1.2B | $1.4B | $1.7B | $1.6B | $1.6B | $2.1B | $2.6B | $2.6B | $3.2B | $5.9B |
| Interest expense | $73M | $92M | $102M | $118M | $115M | $116M | $128M | $140M | $217M | $368M |
| Pre-tax income | $1.1B | $1.4B | $1.6B | $1.5B | $1.5B | $2.0B | $2.5B | $2.5B | $3.0B | $5.6B |
| Income tax | $308M | $692M | $372M | $332M | $313M | $409M | $551M | $509M | $570M | $1.3B |
| Net income | $823M | $650M | $1.2B | $1.2B | $1.2B | $1.6B | $1.9B | $1.9B | $2.4B | $4.3B |
| EPS (diluted) | $0.65 | $0.52 | $0.96 | $0.94 | $0.98 | $1.27 | $1.53 | $1.55 | $1.92 | $3.34 |
| Diluted shares | 1.26B | 1.27B | 1.25B | 1.23B | 1.23B | 1.25B | 1.24B | 1.24B | 1.26B | 1.28B |
| Gross margin | 32.5% | 32.9% | 32.4% | 31.8% | 31.0% | 31.3% | 31.9% | 32.5% | 33.8% | 36.9% |
| Operating margin | 19.2% | 20.4% | 20.6% | 19.7% | 19.1% | 19.4% | 20.5% | 20.4% | 20.7% | 25.4% |
| Net margin | 13.1% | 9.3% | 14.7% | 14.0% | 14.0% | 14.6% | 15.1% | 15.4% | 15.9% | 18.5% |
Balance sheet
Fiscal years, from Amphenol's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.2B | $1.8B | $1.3B | $909M | $1.7B | $1.2B | $1.4B | $1.7B | $3.3B | $11.4B |
| Receivables | $1.3B | $1.6B | $1.8B | $1.7B | $2.0B | $2.5B | $2.6B | $2.6B | $3.3B | $4.7B |
| Inventory | $929M | $1.1B | $1.2B | $1.3B | $1.5B | $1.9B | $2.1B | $2.2B | $2.5B | $3.4B |
| Total current assets | $3.6B | $4.7B | $4.6B | $4.2B | $5.5B | $6.0B | $6.5B | $6.8B | $9.7B | $20.3B |
| Property, plant and equipment | $711M | $817M | $876M | $999M | $1.1B | $1.2B | $1.2B | $1.3B | $1.7B | $2.3B |
| Goodwill | $3.7B | $4.0B | $4.1B | $4.9B | $5.0B | $6.4B | $6.4B | $7.1B | $8.2B | $10.6B |
| Total assets | $8.5B | $10.0B | $10.0B | $10.8B | $12.3B | $14.7B | $15.3B | $16.5B | $21.4B | $36.2B |
| Total current liabilities | $1.6B | $1.6B | $2.5B | $2.1B | $2.3B | $2.4B | $2.7B | $3.2B | $4.1B | $6.8B |
| Long-term debt | $2.6B | $3.5B | $2.8B | $3.2B | $3.6B | $4.8B | $4.6B | $4.0B | $6.5B | $14.6B |
| Total liabilities | $4.8B | $6.0B | $6.0B | $6.2B | $6.9B | $8.3B | $8.2B | $8.1B | $11.6B | $22.7B |
| Shareholders' equity | $3.7B | $4.0B | $4.0B | $4.5B | $5.4B | $6.3B | $7.0B | $8.3B | $9.8B | $13.4B |
| Net debt | $2.0B | $1.8B | $1.5B | $2.3B | $1.9B | $3.6B | $3.2B | $2.5B | $3.2B | $3.4B |
Cash flow
Fiscal years, from Amphenol's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $1.1B | $1.1B | $1.5B | $1.6B | $1.5B | $2.2B | $2.5B | $2.8B | $5.4B |
| Capital spending | $191M | $227M | $311M | $295M | $277M | $360M | $384M | $373M | $665M | $997M |
| Free cash flow | $887M | $918M | $802M | $1.2B | $1.3B | $1.2B | $1.8B | $2.2B | $2.1B | $4.4B |
| Stock-based compensation | $48M | $50M | $56M | $63M | $70M | $83M | $90M | $99M | $110M | $135M |
| Dividends paid | $173M | $205M | $254M | $280M | $298M | $347M | $477M | $501M | $595M | $802M |
| Share buybacks (net) | -$326M | -$618M | -$935M | -$602M | -$641M | -$662M | -$730M | -$585M | -$689M | -$665M |
| Net borrowing | $183M | -$221M | -$545M | -$229M | -$386M | $796M | -$159M | -$633M | $0 | $0 |
| Free cash flow margin | 14.1% | 13.1% | 9.8% | 14.7% | 15.3% | 10.8% | 14.2% | 17.2% | 14.1% | 19.0% |
| Dividends per share | $0.14 | $0.16 | $0.20 | $0.23 | $0.24 | $0.28 | $0.38 | $0.40 | $0.47 | $0.63 |
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Open APH in InvestinglyQuestions
What was Amphenol's revenue in 2025?
$23.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Amphenol generate?
$4.4B in fiscal 2025 (operating cash flow minus capital spending).
From Amphenol's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.