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Arphra AIPlain-English read on Amphenol Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $10.88B | $12.62B | $12.55B | $15.22B | $23.09B | $33.21B | $37.75B | $41.99B | $46.36B |
| Cost of revenue | $7.47B | $8.59B | $8.47B | $10.08B | $14.58B | $21.17B | $25.11B | $27.44B | $30.67B |
| Gross profit | $3.4B | $4.03B | $4.08B | $5.14B | $8.52B | $11.51B | $13.21B | $14.75B | $16.05B |
| Gross margin | +31.28% | +31.91% | +32.53% | +33.76% | +36.88% | +34.67% | +35.00% | +35.13% | +34.62% |
| Operating | |||||||||
| Research & development | $317.7M | $323.6M | $342.2M | $453M | $0 | $628.27M | $710.63M | $788.92M | $857.56M |
| Selling, general & administrative | $908.6M | $1.1B | $1.15B | $1.4B | $2.55B | $3.29B | $3.64B | $4.2B | $4.41B |
| Total operating expenses | $1.23B | $1.42B | $1.49B | $1.86B | $2.55B | $3.97B | $4.37B | $4.8B | $5.5B |
| Operating income | $2.18B | $2.61B | $2.59B | $3.28B | $5.97B | $7.47B | $8.61B | $9.74B | $10.84B |
| Operating margin | +20.00% | +20.66% | +20.66% | +21.58% | +25.86% | +22.50% | +22.81% | +23.19% | +23.38% |
| EBITDA | $2.5B | $2.99B | $3B | $3.8B | $6.89B | $8.66B | $10.17B | $11.07B | $11.89B |
| EBIT | $2.1B | $2.6B | $2.59B | $3.23B | $5.97B | $7.6B | $8.45B | $9.56B | $10.72B |
| Below the line | |||||||||
| Interest expense | $115.5M | $128.4M | $139.5M | $217M | $367.8M | $449.71M | $527.86M | $584.24M | $623.24M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$186.3M | -$139.9M | -$139.4M | -$272.4M | -$371.3M | — | — | — | — |
| Pre-tax income | $1.99B | $2.47B | $2.45B | $3.01B | $5.6B | $7.15B | $7.85B | $8.83B | $9.99B |
| Income tax expense | $409.1M | $550.6M | $509.3M | $570.3M | $1.3B | $1.45B | $1.64B | $1.87B | $2.11B |
| Earnings | |||||||||
| Net income | $1.59B | $1.9B | $1.93B | $2.42B | $4.27B | $5.58B | $6.31B | $6.92B | $7.7B |
| Net income · continuing ops | $1.58B | $1.92B | $1.95B | $2.44B | $4.31B | $5.72B | $6.27B | $6.86B | $7.63B |
| Net margin | +14.63% | +15.07% | +15.36% | +15.92% | +18.49% | +16.82% | +16.71% | +16.48% | +16.62% |
| EPS · basic | $1.33 | $1.60 | $1.62 | $2.01 | $3.51 | $4.99 | $5.82 | $6.63 | $7.90 |
| EPS · diluted | $1.27 | $1.53 | $1.56 | $1.92 | $3.34 | $4.75 | $5.57 | $6.29 | $7.54 |
| EPS · low estimate | — | — | — | — | — | $4.66 | $5.49 | $5.12 | $7.10 |
| EPS · high estimate | — | — | — | — | — | $4.88 | $5.75 | $7.25 | $7.95 |
| Shares · basic | 1.2B | 1.19B | 1.19B | 1.2B | 1.22B | 1.21B | 1.22B | 1.22B | 1.21B |
| Shares · diluted | 1.25B | 1.24B | 1.24B | 1.26B | 1.28B | 1.27B | 1.27B | 1.29B | 1.28B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 11 | 11 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 9 | 10 | 6 | 4 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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