APH AMPHENOL CORP /DE/

Overview and Growth

Fiscal 2025 results for AMPHENOL CORP /DE/ combined $23.09B of revenue with net income of $4.27B and an operating cash inflow of $5.37B. At $23.09B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 51.7% from $15.22B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $3.34, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 74.0% from $1.92 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Asset turnover was 0.64x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $8.52B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 36.9% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $5.87B, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 25.4%, showing how efficiently sales converted into operating profit. After all reported below-operating-line items, the company recorded net income of $4.27B for the fiscal year. Measured against reported revenue, net income produced a 18.5% margin after operating costs and the remaining recognized items. The earnings statement records $5.60B of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 24.3% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $1.30B, providing the reported tax component that separates pretax and after-tax earnings. The income-tax provision equaled 23.1% of pretax income, showing the tax burden absorbed by the year’s earnings. Net income equaled 31.6% of period-end equity, showing the earnings generated on shareholders’ book capital. The net-income-to-assets relationship measured 11.8%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

At period end, the $36.24B asset base was financed through $22.73B of liabilities and $13.50B of equity. The near-term balance sheet paired $20.27B of current assets with $6.80B of current liabilities at the reporting date. At 2.98x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $11.13B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 163.6%, excluding receivables and other current assets. The liabilities-to-assets relationship was 62.7%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 30.7%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 69.0% higher than fiscal 2024 assets of $21.44B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

The company reported $5.37B of operating cash flow, a cash inflow that shows the cash generated by operations. Operating cash flow equaled 1.26x of net income, showing how strongly accounting earnings converted into cash from operations. Capital expenditures used $996.60M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Relative to operating cash flow, capital expenditures measured 18.5%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $4.38B, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 19.0%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 12.1% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.