Amphenol Corp. (APH)
Technology · NYSE · US
Fundamentals
Valuation and ratings
Amphenol Corp. trades at $153.14, close to the $133.98 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 72 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 45.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Amphenol Corp.
Amphenol Corporation, together with its subsidiaries, designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Communications Solutions, Harsh Environment Solutions, and Interconnect and Sensor Systems. The company offers connectors and connector systems, including high speed, radio frequency, power, fiber optic and other interconnect products; busbars and power distribution systems; power interconnect products; and other products. It also provides value-add products, such as backplane interconnect systems, cable assemblies and harnesses, and cable management products; and other products comprising flexible and rigid printed circuit boards, hinges, other mechanical, and production related products. In addition, the company offers consumer device, network infrastructure, and other antennas; coaxial, power, and specialty cables; and sensors and sensor-based products. It sells its products through its sales force, independent representatives, and a network of electronics distributors to original equipment manufacturers, electronic manufacturing services companies, original design manufacturers, and service providers in the automotive, commercial aerospace, communications networks, defense, industrial, information technology and data communications, mobile devices markets. Additionally, the company provides telecommunication and IT networking solutions. The company was founded in 1932 and is headquartered in Wallingford, Connecticut.
APH passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
23 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Capital Research Global, Capital Research Global Investors$3.36B · 0.5% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$1.50B · 0.8% of book
- Cliff Asness, AQR CAPITAL MANAGEMENT LLC$697.11M · 0.3% of book
- John Armitage, Egerton Capital (UK) LLP$362.80M · 4.0% of book
- Marshall Wace, MARSHALL WACE, LLP$295.32M · 0.3% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Amphenol Corp. (APH) undervalued?
Against our discounted cash flow estimate of $133.98, APH at $153.14 is 13% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own APH?
23 of the institutions we track reported a position in APH in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is APH's P/E ratio?
APH trades at 45.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for APH, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.