Stock Analysis on Net
Stock Analysis on Net

Amphenol Corp. (NYSE:APH)

This company has been moved to the archive! The financial data has not been updated since April 26, 2024.

Analysis of Goodwill and Intangible Assets

Microsoft Excel

Goodwill and Intangible Asset Disclosure

Amphenol Corp., balance sheet: goodwill and intangible assets

US$ in thousands

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Goodwill 7,092,400 6,446,100 6,376,800 5,032,100 4,867,100
Customer relationships 782,600 677,000 637,200 456,600 446,200
Proprietary technology 365,100 310,000 311,100 156,200 156,000
Backlog and other 114,100 86,900 74,900 49,700 49,700
Intangible assets, definite-lived, gross 1,261,800 1,073,900 1,023,200 662,500 651,900
Accumulated amortization (696,100) (608,900) (534,400) (451,100) (396,000)
Intangible assets, definite-lived, net 565,700 465,000 488,800 211,400 255,900
Trade names 269,100 269,100 268,100 186,100 186,100
Intangible assets, indefinite-lived 269,100 269,100 268,100 186,100 186,100
Intangible assets 834,800 734,100 756,900 397,500 442,000
Goodwill and other intangible assets 7,927,200 7,180,200 7,133,700 5,429,600 5,309,100

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Item Description The company
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Amphenol Corp. goodwill increased from 2021 to 2022 and from 2022 to 2023.
Intangible assets Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Amphenol Corp. intangible assets decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Goodwill and other intangible assets Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Amphenol Corp. goodwill and other intangible assets increased from 2021 to 2022 and from 2022 to 2023.

Adjustments to Financial Statements: Removal of Goodwill

Amphenol Corp., adjustments to financial statements

US$ in thousands

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Adjustment to Total Assets
Total assets (as reported) 16,526,400 15,326,200 14,678,400 12,327,300 10,815,500
Less: Goodwill 7,092,400 6,446,100 6,376,800 5,032,100 4,867,100
Total assets (adjusted) 9,434,000 8,880,100 8,301,600 7,295,200 5,948,400
Adjustment to Stockholders’ Equity Attributable To Amphenol Corporation
Stockholders’ equity attributable to Amphenol Corporation (as reported) 8,346,500 7,015,600 6,302,000 5,384,900 4,530,300
Less: Goodwill 7,092,400 6,446,100 6,376,800 5,032,100 4,867,100
Stockholders’ equity attributable to Amphenol Corporation (adjusted) 1,254,100 569,500 (74,800) 352,800 (336,800)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Amphenol Corp., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Amphenol Corp., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Total Asset Turnover
Reported total asset turnover 0.76 0.82 0.74 0.70 0.76
Adjusted total asset turnover 1.33 1.42 1.31 1.18 1.38
Financial Leverage
Reported financial leverage 1.98 2.18 2.33 2.29 2.39
Adjusted financial leverage 7.52 15.59 — 20.68 —
Return on Equity (ROE)
Reported ROE 23.10% 27.12% 25.24% 22.35% 25.50%
Adjusted ROE 153.74% 334.03% — 341.10% —
Return on Assets (ROA)
Reported ROA 11.67% 12.41% 10.84% 9.76% 10.68%
Adjusted ROA 20.44% 21.42% 19.16% 16.50% 19.42%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Amphenol Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Amphenol Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Amphenol Corp., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net sales 12,554,700 12,623,000 10,876,300 8,598,900 8,225,400
Total assets 16,526,400 15,326,200 14,678,400 12,327,300 10,815,500
Activity Ratio
Total asset turnover1 0.76 0.82 0.74 0.70 0.76
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net sales 12,554,700 12,623,000 10,876,300 8,598,900 8,225,400
Adjusted total assets 9,434,000 8,880,100 8,301,600 7,295,200 5,948,400
Activity Ratio
Adjusted total asset turnover2 1.33 1.42 1.31 1.18 1.38

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= 12,554,700 ÷ 16,526,400 = 0.76

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 12,554,700 ÷ 9,434,000 = 1.33

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Amphenol Corp. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in thousands)
Total assets 16,526,400 15,326,200 14,678,400 12,327,300 10,815,500
Stockholders’ equity attributable to Amphenol Corporation 8,346,500 7,015,600 6,302,000 5,384,900 4,530,300
Solvency Ratio
Financial leverage1 1.98 2.18 2.33 2.29 2.39
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted total assets 9,434,000 8,880,100 8,301,600 7,295,200 5,948,400
Adjusted stockholders’ equity attributable to Amphenol Corporation 1,254,100 569,500 (74,800) 352,800 (336,800)
Solvency Ratio
Adjusted financial leverage2 7.52 15.59 — 20.68 —

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Financial leverage = Total assets ÷ Stockholders’ equity attributable to Amphenol Corporation
= 16,526,400 ÷ 8,346,500 = 1.98

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity attributable to Amphenol Corporation
= 9,434,000 ÷ 1,254,100 = 7.52

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net income attributable to Amphenol Corporation 1,928,000 1,902,300 1,590,800 1,203,400 1,155,000
Stockholders’ equity attributable to Amphenol Corporation 8,346,500 7,015,600 6,302,000 5,384,900 4,530,300
Profitability Ratio
ROE1 23.10% 27.12% 25.24% 22.35% 25.50%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income attributable to Amphenol Corporation 1,928,000 1,902,300 1,590,800 1,203,400 1,155,000
Adjusted stockholders’ equity attributable to Amphenol Corporation 1,254,100 569,500 (74,800) 352,800 (336,800)
Profitability Ratio
Adjusted ROE2 153.74% 334.03% — 341.10% —

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 ROE = 100 × Net income attributable to Amphenol Corporation ÷ Stockholders’ equity attributable to Amphenol Corporation
= 100 × 1,928,000 ÷ 8,346,500 = 23.10%

2 Adjusted ROE = 100 × Net income attributable to Amphenol Corporation ÷ Adjusted stockholders’ equity attributable to Amphenol Corporation
= 100 × 1,928,000 ÷ 1,254,100 = 153.74%

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Selected Financial Data (US$ in thousands)
Net income attributable to Amphenol Corporation 1,928,000 1,902,300 1,590,800 1,203,400 1,155,000
Total assets 16,526,400 15,326,200 14,678,400 12,327,300 10,815,500
Profitability Ratio
ROA1 11.67% 12.41% 10.84% 9.76% 10.68%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net income attributable to Amphenol Corporation 1,928,000 1,902,300 1,590,800 1,203,400 1,155,000
Adjusted total assets 9,434,000 8,880,100 8,301,600 7,295,200 5,948,400
Profitability Ratio
Adjusted ROA2 20.44% 21.42% 19.16% 16.50% 19.42%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 ROA = 100 × Net income attributable to Amphenol Corporation ÷ Total assets
= 100 × 1,928,000 ÷ 16,526,400 = 11.67%

2 Adjusted ROA = 100 × Net income attributable to Amphenol Corporation ÷ Adjusted total assets
= 100 × 1,928,000 ÷ 9,434,000 = 20.44%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Amphenol Corp. adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.