TE Connectivity (TEL) financial statements
TE Connectivity reported revenue of $17.3B in fiscal 2025, up 4.8% a year over 9 years.
Net income was $1.8B and the operating margin 18.6%, against 15.9% in 2016.
Free cash flow was $3.2B, and the company returned $803M in dividends and $1.3B in net buybacks.
The diluted share count fell 19% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TE Connectivity's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.4B | $12.2B | $14.0B | $13.4B | $12.2B | $14.9B | $16.3B | $16.0B | $15.8B | $17.3B |
| Cost of revenue | $7.5B | $8.0B | $9.2B | $9.1B | $8.4B | $10.0B | $11.0B | $11.0B | $10.4B | $11.2B |
| Gross profit | $3.8B | $4.2B | $4.7B | $4.4B | $3.7B | $4.9B | $5.2B | $5.1B | $5.5B | $6.1B |
| Research and development | $525M | $548M | $606M | $572M | $539M | $612M | $610M | $593M | $621M | $699M |
| Selling, general and admin | $1.4B | $1.5B | $1.6B | $1.5B | $1.4B | $1.5B | $1.6B | $1.7B | $1.7B | $1.9B |
| Operating income | $1.8B | $1.9B | $2.3B | $2.0B | $537M | $2.4B | $2.8B | $2.3B | $2.8B | $3.2B |
| Interest expense | $127M | $130M | $107M | $68M | $48M | $56M | $66M | $80M | $70M | $77M |
| Pre-tax income | $1.0B | $1.7B | $2.2B | $1.9B | $524M | $2.4B | $2.7B | $2.3B | $2.8B | $3.2B |
| Income tax | -$826M | $180M | -$344M | -$15M | $783M | $123M | $306M | $364M | -$397M | $1.4B |
| Net income | $2.0B | $1.7B | $2.6B | $1.8B | -$241M | $2.3B | $2.4B | $1.9B | $3.2B | $1.8B |
| EPS (diluted) | $5.44 | $4.70 | $7.27 | $5.42 | -$0.73 | $6.79 | $7.47 | $6.03 | $10.33 | $6.16 |
| Diluted shares | 369M | 358M | 353M | 340M | 332M | 333M | 325M | 317M | 309M | 299M |
| Gross margin | 33.7% | 34.3% | 33.9% | 32.7% | 30.7% | 32.7% | 32.2% | 31.5% | 34.4% | 35.2% |
| Operating margin | 15.9% | 15.4% | 16.7% | 14.7% | 4.4% | 16.3% | 16.9% | 14.4% | 17.6% | 18.6% |
| Net margin | 17.7% | 13.8% | 18.3% | 13.7% | -2.0% | 15.2% | 14.9% | 11.9% | 20.2% | 10.7% |
Balance sheet
Fiscal years, from TE Connectivity's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $647M | $1.2B | $848M | $927M | $945M | $1.2B | $1.1B | $1.7B | $1.3B | $1.3B |
| Receivables | $2.0B | $2.1B | $2.4B | $2.3B | $2.4B | $2.9B | $2.9B | $3.0B | $3.1B | $3.4B |
| Inventory | $1.6B | $1.6B | $1.9B | $1.8B | $1.9B | $2.5B | $2.7B | $2.6B | $2.5B | $2.7B |
| Total current assets | $4.8B | $5.9B | $6.2B | $5.6B | $5.8B | $7.3B | $7.3B | $7.9B | $7.6B | $8.0B |
| Property, plant and equipment | $2.8B | $3.2B | $3.5B | $3.6B | $3.6B | $3.8B | $3.6B | $3.8B | $3.9B | $4.3B |
| Goodwill | $5.5B | $5.7B | $5.7B | $5.7B | $5.2B | $5.6B | $5.3B | $5.5B | $5.8B | $7.1B |
| Total assets | $17.6B | $19.4B | $20.4B | $19.7B | $19.2B | $21.5B | $20.8B | $21.7B | $22.9B | $25.1B |
| Total current liabilities | $3.1B | $3.8B | $4.4B | $3.5B | $3.7B | $4.7B | $4.6B | $4.5B | $4.7B | $5.1B |
| Long-term debt | $3.7B | $3.6B | $3.0B | $3.4B | $3.5B | $3.6B | $3.3B | $3.5B | $3.3B | $4.8B |
| Total liabilities | $9.1B | $9.7B | $9.6B | $9.1B | $9.7B | $10.7B | $9.9B | $10.1B | $10.4B | $12.4B |
| Shareholders' equity | $8.5B | $9.8B | $10.8B | $10.6B | $9.4B | $10.6B | $10.8B | $11.6B | $12.4B | $12.6B |
| Net debt | $3.4B | $3.1B | $3.2B | $3.0B | $3.2B | $2.9B | $3.1B | $2.5B | $2.9B | $4.4B |
Cash flow
Fiscal years, from TE Connectivity's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.9B | $2.3B | $2.5B | $2.4B | $2.0B | $2.7B | $2.5B | $3.1B | $3.5B | $4.1B |
| Capital spending | $603M | $679M | $935M | $749M | $560M | $690M | $768M | $732M | $680M | $936M |
| Free cash flow | $1.3B | $1.6B | $1.5B | $1.7B | $1.4B | $2.0B | $1.7B | $2.4B | $2.8B | $3.2B |
| Stock-based compensation | $87M | $95M | $95M | $75M | $74M | $94M | $119M | $123M | $127M | $149M |
| Dividends paid | $509M | $546M | $588M | $608M | $625M | $647M | $685M | $725M | $760M | $803M |
| Share buybacks (net) | -$2.8B | -$614M | -$879M | -$1.1B | -$523M | -$831M | -$1.4B | -$945M | -$2.1B | -$1.3B |
| Net borrowing | $181M | $259M | -$319M | $4M | $22M | -$47M | $400M | -$132M | -$79M | $1.4B |
| Free cash flow margin | 11.8% | 13.5% | 10.8% | 12.4% | 11.8% | 13.3% | 10.4% | 15.0% | 17.7% | 18.6% |
| Dividends per share | $1.38 | $1.53 | $1.67 | $1.79 | $1.88 | $1.94 | $2.11 | $2.29 | $2.46 | $2.69 |
Questions
What was TE Connectivity's revenue in 2025?
$17.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does TE Connectivity generate?
$3.2B in fiscal 2025 (operating cash flow minus capital spending).
From TE Connectivity's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.