APHAMPHENOL CORP /DE/
Electronic Connectors
- Revenue
- $23.1B
- 52% YoY
- Operating margin
- 25.4%
- 23% YoY
- EBITDA
- $6.8B
- 82% YoY
- Market cap
- $97.3B
- Employees
- 170,000
- $136K revenue each
- Net debt / EBITDA
- 1.9×
- $13.0B net debt
- AI in 10-K
- 2.4
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo0 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$14M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo126% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo27% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo38% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$136K · 7th pctBottom quartile of its SIC industry
- Quiet on AINo2.4 per 10K words · 61st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.9× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$97.3B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$416M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $10.9B | $12.6B | $12.6B | $15.2B | $23.1B | 52% |
| Operating income | $2.1B | $2.6B | $2.6B | $3.2B | $5.9B | 86% |
| Net income | $1.6B | $1.9B | $1.9B | $2.4B | $4.3B | 76% |
| Operating cash flow | $1.5B | $2.2B | $2.5B | $2.8B | $5.4B | 91% |
| Capex | $360M | $384M | $373M | $665M | $997M | 50% |
| Stock-based comp | $83M | $90M | $99M | $110M | $135M | 24% |
| Buybacks | $662M | $731M | $585M | $689M | $665M | 3.5% |
| Dividends | $347M | $477M | $501M | $595M | $802M | 35% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $1M · 1
- Open-market sells, 12 mo
- $418M · 20
- Net
- −$416M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $22M | $142M | 433 | 237 |
| FY2024 | $17M | $63M | 221 | 177 |
| FY2023 | $11M | $31M | 156 | 132 |
| FY2022 | $14M | −$16M | 119 | 103 |
| FY2021 | $13M | $51M | 135 | 125 |