Amphenol Corporation (APH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-54.4%

$37.14

vs $81.37 price

Levered DCF

$46.93

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.93

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	38.5×	34.56×	30.6×	23.8×	32.89×	32.38×	27.9×	20.26×
P/B	12.27×	8.54×	7.09×	6.47×	8.3×	7.24×	7.11×	6.08×
P/S	7.13×	5.49×	4.71×	3.6×	4.81×	4.53×	3.91×	2.98×
EV / EBITDA	24.24×	23.04×	20.77×	16.36×	22.46×	21.22×	18.24×	13.42×
Gross margin	37.2%	33.8%	32.5%	31.9%	31.3%	31.0%	31.8%	32.4%
Operating margin	25.4%	21.6%	20.7%	20.7%	20.0%	19.2%	20.0%	20.7%
Net margin	18.5%	15.9%	15.4%	15.1%	14.6%	14.0%	14.0%	14.7%
Current ratio	2.98×	2.37×	2.17×	2.42×	2.43×	2.38×	1.97×	1.86×
Debt / equity	1.16×	0.74×	0.56×	0.69×	0.8×	0.76×	0.84×	0.89×
Interest coverage	15.96×	15.14×	18.6×	20.31×	18.84×	14.3×	13.98×	16.67×
Dividend yield	0.5%	0.7%	0.8%	1.1%	0.7%	0.8%	0.9%	1.0%
Payout ratio	18.8%	24.6%	26.0%	25.1%	21.8%	24.7%	24.2%	21.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	31.8%	24.8%	23.1%	27.1%	25.2%	22.3%	25.5%	30.0%
Return on invested capital	14.9%	14.9%	14.9%	15.9%	14.0%	12.7%	14.0%	15.5%
Return on assets	11.8%	11.3%	11.7%	12.4%	10.8%	9.8%	10.7%	12.0%
Free cash flow yield	2.7%	2.6%	3.6%	3.9%	2.3%	3.4%	3.7%	3.3%
Earnings yield	2.6%	2.9%	3.3%	4.2%	3.0%	3.1%	3.6%	4.9%
Enterprise value	$169B	$87.6B	$62.3B	$48.9B	$56.2B	$41.4B	$35.1B	$26.7B
Net debt / EBITDA	0.63×	1.04×	1.06×	1.17×	1.54×	1.23×	1.51×	1.15×
Cash conversion cycle (days)	94	105	111	109	111	104	106	102