Amphenol Corporation
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsAmphenol Corporation is a global designer and manufacturer of electrical, electronic, and fiber optic connectors, interconnect systems, antennas, sensors, and cable, operating through three reportable segments.
What they do
Amphenol designs, manufactures, and markets connectors and interconnect systems, antennas, sensors, and cable for diverse end markets. The company operates through three segments: Communications Solutions (52% of 2025 net sales), Harsh Environment Solutions (26%), and Interconnect and Sensor Systems (22%). Products serve automotive, commercial aerospace, defense, industrial, information technology and data communications, and communications networks markets.
Revenue drivers
- Communications Solutions — Largest segment at 52% of 2025 net sales; includes high-speed, RF, power, and fiber optic connectors, cable, and antennas for IT datacom, mobile devices, and networks.
- Harsh Environment Solutions — 26% of 2025 net sales; ruggedized connectors, specialty cable, and printed circuits for industrial, defense, aerospace, and automotive applications.
- Interconnect and Sensor Systems — 22% of 2025 net sales; sensors, sensor-based systems, connectors, and value-add interconnect systems for automotive, industrial, and other markets.
Recent performance
In Q2 2026, Amphenol reported record sales of $8.8 billion, up 55% in USD and 30% organically year-over-year. Orders were $10.7 billion, book-to-bill of 1.23:1. GAAP diluted EPS was $1.37 (up 59%) and adjusted diluted EPS was $1.35 (up 67%). Operating margin was 29.5% GAAP and 29.8% adjusted, including an $80 million net benefit from IEEPA tariff recoveries. The company generated $1.6 billion operating cash flow and $1.2 billion free cash flow.
Strategy
Amphenol focuses on providing comprehensive design capabilities, broad product selection, and high quality/service globally while pursuing productivity and cost control. The company emphasizes organic innovation and an active acquisition program, having completed the acquisitions of El.Com and Wilder Technologies in Q2 2026. Management expects the CommScope acquisition to generate full-year 2026 sales of $4.6 billion and be $0.30 accretive to adjusted EPS, higher than prior guidance. The company returns capital to shareholders via dividends and share repurchases, with $515 million returned in Q2 2026.
Risks
- Customer concentration and market cyclicality — Sales depend on a broad array of customers in cyclical end markets such as IT datacom, automotive, and defense, which could fluctuate.
- Foreign exchange exposure — Approximately 65% of sales are outside the U.S., subjecting results to currency fluctuations, though the company hedges and assesses sensitivity.
- Integration risks from acquisitions — The company has an active acquisition program, including the large CommScope purchase, which may not achieve expected sales or accretion.
- Tariff and trade policy impacts — The company recorded $80 million in net tariff recoveries in Q2 2026, but future tariff changes could affect costs and margins.
Outlook
For Q3 2026, Amphenol expects sales of $9.3–9.4 billion, up 50–52% year-over-year. Adjusted diluted EPS guidance is $1.40–1.42, up 51–53%, excluding any additional tariff recoveries. Management cites accelerating electronics innovation and strong growth in IT datacom as key drivers.