Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Amphenol Corp., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Price to Earnings (P/E) Ratio
- The Price to Earnings ratio has demonstrated notable variation over the observed quarters. Starting from a value of 26.73 in March 2020, it decreased to 22.57 in June 2020 before increasing steadily to 32.69 by March 2021. After maintaining relatively stable levels around 30 to 31 through the end of 2021, the ratio declined gradually to 23.45 in March 2023. Subsequently, it showed renewed upward momentum, reaching 35.52 in March 2024. This pattern suggests periods of fluctuating market optimism about earnings growth, with recent quarters reflecting higher valuation multiples.
- Price to Operating Profit (P/OP) Ratio
- The Price to Operating Profit ratio initially decreased from 19.07 in March 2020 to 16.35 in June 2020, indicative of improved operating profit relative to stock price or a decrease in market valuation multiples. Following this, the ratio rose steadily to a peak of 24.01 in March 2021, then declined progressively to 17.36 in March 2023. The ratio increased again in the latest periods, culminating at 27.28 in March 2024. These shifts point to periods of fluctuating investor perception of the company's operating profitability, with the recent rise implying growing expectations or valuation premium.
- Price to Sales (P/S) Ratio
- The Price to Sales ratio displays a cyclical pattern with initial values falling from 3.75 in March 2020 to 3.14 in June 2020, followed by an increase to 4.58 in March 2021. Subsequent quarters show a decline to 3.55 by March 2023, after which an uptrend resumed, reaching a peak of 5.64 in March 2024. This trend indicates varying investor confidence in revenue generation, with recent increases suggesting a higher valuation per unit of sales.
- Price to Book Value (P/BV) Ratio
- This ratio has exhibited moderate fluctuation over time. Starting at 7.24 in March 2019, it decreased to a low of 5.81 in March 2020. Afterward, it recovered gradually to values near 7.6 by late 2021. There is a decline trend through early 2023 with a low of 6.04 in September 2023, followed by a significant rise to 8.34 as of March 2024. This pattern suggests varying investor perceptions of the company's net asset value, with recent periods reflecting increased valuation relative to book value.
Price to Earnings (P/E)
Amphenol Corp., historical P/E calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 600,603,947 | 599,854,853 | 598,310,231 | 596,453,955 | 595,319,046 | 594,604,514 | 595,094,540 | 594,828,147 | 597,138,524 | 598,939,773 | 598,027,782 | 598,185,235 | 597,615,720 | 599,153,422 | 598,309,502 | 596,753,726 | 591,788,738 | 596,202,310 | 592,983,414 | 594,896,356 | 597,464,522 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net income attributable to Amphenol Corporation (in thousands) | 548,700) | 514,400) | 513,900) | 460,500) | 439,200) | 507,500) | 496,600) | 472,500) | 425,700) | 464,900) | 426,500) | 369,800) | 329,600) | 357,000) | 346,600) | 257,700) | 242,100) | 318,800) | 280,300) | 288,400) | 267,500) | |||||||
| Earnings per share (EPS)2 | 3.39 | 3.21 | 3.21 | 3.19 | 3.22 | 3.20 | 3.13 | 3.01 | 2.82 | 2.66 | 2.48 | 2.35 | 2.16 | 2.01 | 1.95 | 1.84 | 1.91 | 1.94 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 120.49 | 104.26 | 79.31 | 87.57 | 75.47 | 81.28 | 76.43 | 77.13 | 71.50 | 79.99 | 76.77 | 72.49 | 67.34 | 65.66 | 59.88 | 52.20 | 43.09 | 51.78 | 50.12 | 47.64 | 49.99 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/E ratio4 | 35.52 | 32.44 | 24.70 | 27.44 | 23.45 | 25.41 | 24.46 | 25.64 | 25.31 | 30.12 | 30.96 | 30.91 | 31.17 | 32.69 | 30.75 | 28.35 | 22.57 | 26.73 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Apple Inc. | 28.44 | 28.33 | 30.03 | 28.94 | 25.69 | 24.82 | 26.21 | 25.03 | 27.64 | 25.96 | 27.61 | 29.19 | 36.00 | 32.24 | 31.11 | 21.90 | 24.67 | 20.00 | — | — | — | |||||||
| Arista Networks Inc. | 39.94 | 39.77 | 32.79 | 33.61 | 27.44 | 32.05 | 33.51 | 34.45 | 37.69 | 47.57 | 48.16 | 39.93 | 36.93 | 37.42 | — | — | — | — | — | — | — | |||||||
| Cisco Systems Inc. | 14.30 | 18.26 | 17.20 | 18.01 | 17.28 | 15.78 | 15.18 | 19.78 | 20.46 | 23.34 | 21.99 | 19.39 | 16.91 | 15.46 | 17.64 | 17.87 | 17.54 | 17.69 | — | — | — | |||||||
| Dell Technologies Inc. | 17.90 | 11.94 | 16.85 | 5.08 | 6.44 | 7.31 | 6.58 | 19.68 | 19.66 | 20.88 | 21.71 | 23.01 | 8.57 | 6.21 | — | — | — | — | — | — | — | |||||||
| Super Micro Computer Inc. | 22.19 | 21.10 | 12.26 | 7.82 | 9.13 | 12.72 | 14.48 | 15.76 | 21.50 | 16.15 | 19.94 | 18.28 | 17.15 | 17.04 | 14.90 | 16.76 | 15.68 | 15.81 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2024 Calculation
EPS
= (Net income attributable to Amphenol CorporationQ1 2024
+ Net income attributable to Amphenol CorporationQ4 2023
+ Net income attributable to Amphenol CorporationQ3 2023
+ Net income attributable to Amphenol CorporationQ2 2023)
÷ No. shares of common stock outstanding
= (548,700,000 + 514,400,000 + 513,900,000 + 460,500,000)
÷ 600,603,947 = 3.39
3 Closing price as at the filing date of Amphenol Corp. Quarterly or Annual Report.
4 Q1 2024 Calculation
P/E ratio = Share price ÷ EPS
= 120.49 ÷ 3.39 = 35.52
5 Click competitor name to see calculations.
The financial data shows a distinct progression in the company's market valuation and earnings performance over recent quarters. The share price exhibits overall growth with fluctuations, reflecting varying investor sentiment and market conditions during the period analyzed.
- Share Price
- The share price started at $49.99 at the beginning of 2019 and demonstrated some volatility throughout the subsequent quarters. Notably, the price dipped to $43.09 in March 2020, coinciding with market-wide disruptions during that time. Following this, the share price trended upward, reaching a peak of $104.26 by December 2023 and further increasing to $120.49 in March 2024. This more than doubling of the share price over approximately five years indicates positive market perception and strong valuation growth.
- Earnings per Share (EPS)
- EPS data, available from March 2020 onward, reveals a consistent upward trend. Starting at $1.94 per share in March 2020, EPS gradually increased each quarter, reaching $3.39 by March 2024. This steady improvement suggests continued enhancement of profitability and operational performance on a per-share basis.
- Price-to-Earnings Ratio (P/E)
- P/E ratios, aligned with the EPS and share price data from March 2020, show some variability reflecting the interaction between market price and earnings. Initially recorded at 26.73, the P/E ratio fluctuated, dropping as low as 22.57 in June 2020, indicating temporarily undervalued shares relative to earnings. Subsequently, it climbed and mostly stayed in the mid to high 20s or low 30s range, peaking at 35.52 in March 2024. The rising P/E towards the latest quarter may suggest increased investor optimism or expectations for future earnings growth.
Overall, the data illustrates robust growth in earnings and share price, with valuation measures adjusting accordingly. The increase in EPS underpins the stronger share price, while the fluctuating but generally increasing P/E ratio reflects shifting market confidence and potentially elevated growth expectations at recent valuations.
Price to Operating Profit (P/OP)
Amphenol Corp., historical P/OP calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 600,603,947 | 599,854,853 | 598,310,231 | 596,453,955 | 595,319,046 | 594,604,514 | 595,094,540 | 594,828,147 | 597,138,524 | 598,939,773 | 598,027,782 | 598,185,235 | 597,615,720 | 599,153,422 | 598,309,502 | 596,753,726 | 591,788,738 | 596,202,310 | 592,983,414 | 594,896,356 | 597,464,522 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Operating income (in thousands) | 684,800) | 690,100) | 657,900) | 619,900) | 591,700) | 666,100) | 681,100) | 648,800) | 589,800) | 592,900) | 571,200) | 476,200) | 464,800) | 488,300) | 475,800) | 357,400) | 316,900) | 429,900) | 413,600) | 399,500) | 376,200) | |||||||
| Operating profit per share2 | 4.42 | 4.27 | 4.24 | 4.29 | 4.35 | 4.35 | 4.22 | 4.04 | 3.73 | 3.51 | 3.35 | 3.18 | 2.99 | 2.73 | 2.64 | 2.54 | 2.64 | 2.72 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 120.49 | 104.26 | 79.31 | 87.57 | 75.47 | 81.28 | 76.43 | 77.13 | 71.50 | 79.99 | 76.77 | 72.49 | 67.34 | 65.66 | 59.88 | 52.20 | 43.09 | 51.78 | 50.12 | 47.64 | 49.99 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/OP ratio4 | 27.28 | 24.43 | 18.71 | 20.41 | 17.36 | 18.69 | 18.10 | 19.09 | 19.15 | 22.76 | 22.95 | 22.76 | 22.53 | 24.01 | 22.68 | 20.52 | 16.35 | 19.07 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Apple Inc. | 24.19 | 24.04 | 25.35 | 24.31 | 21.45 | 20.74 | 22.07 | 21.37 | 23.78 | 22.56 | 23.98 | 25.06 | 31.00 | 27.92 | 27.07 | 19.10 | 21.45 | 17.29 | — | — | — | |||||||
| Arista Networks Inc. | 37.57 | 36.78 | 29.88 | 30.23 | 24.01 | 28.39 | 29.48 | 31.27 | 35.28 | 43.25 | 44.26 | 35.97 | 33.03 | 33.93 | — | — | — | — | — | — | — | |||||||
| Cisco Systems Inc. | 12.32 | 15.32 | 13.88 | 14.67 | 14.12 | 13.35 | 12.91 | 16.75 | 17.02 | 19.26 | 17.97 | 15.77 | 14.03 | 12.73 | 13.53 | 13.95 | 13.79 | 14.46 | — | — | — | |||||||
| Dell Technologies Inc. | 6.61 | 5.05 | 4.98 | 5.04 | 7.09 | 8.73 | 8.55 | 14.00 | 14.47 | 13.19 | 14.32 | 14.24 | 13.80 | 10.93 | — | — | — | — | — | — | — | |||||||
| Super Micro Computer Inc. | 19.05 | 17.74 | 10.29 | 6.55 | 7.70 | 10.82 | 12.71 | 14.45 | 19.41 | 14.57 | 19.28 | 17.44 | 17.42 | 16.77 | 12.55 | 13.65 | 12.18 | 11.69 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2024 Calculation
Operating profit per share
= (Operating incomeQ1 2024
+ Operating incomeQ4 2023
+ Operating incomeQ3 2023
+ Operating incomeQ2 2023)
÷ No. shares of common stock outstanding
= (684,800,000 + 690,100,000 + 657,900,000 + 619,900,000)
÷ 600,603,947 = 4.42
3 Closing price as at the filing date of Amphenol Corp. Quarterly or Annual Report.
4 Q1 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 120.49 ÷ 4.42 = 27.28
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several distinct trends in share price, operating profit per share, and the price-to-operating profit ratio over the observed periods.
- Share Price
- The share price exhibited moderate fluctuations between March 2019 and December 2019, initially ranging from approximately $47.64 to $51.78. There was a notable dip to $43.09 in March 2020, coinciding with broader market disruptions. Subsequently, the share price demonstrated a generally upward trajectory, rising progressively from June 2020 through March 2024. This upward trend culminated in a share price peak of $120.49 in March 2024, indicating significant market confidence and growth over the longer term.
- Operating Profit per Share
- Operating profit per share data commence from March 2020 and indicate consistent growth over the periods reported. Starting at $2.72 in March 2020, the metric experienced a steady increase, reaching $4.42 by March 2024. This reflects an improvement in profitability on a per-share basis across the timeframe, suggesting operational efficiencies or increased earnings capacity contributing positively to shareholder value.
- Price-to-Operating Profit Ratio (P/OP)
- The P/OP ratio demonstrates variability throughout the periods. Initially, it dropped from 19.07 in March 2020 to around 16.35 in June 2020, before climbing to a peak of approximately 24.43 in December 2023. A further increase to 27.28 is recorded by March 2024. This rising trend indicates that the market price is increasing at a faster pace than the operating profit per share, reflecting elevated market expectations or investor optimism about future earnings growth. Despite the rise in operating profit per share, the increasing P/OP ratio suggests the stock might be viewed as more richly valued relative to its current operating earnings.
Overall, the data indicate a positive financial performance with increasing profitability and a rising share price over recent years. However, the concurrent increase in the price-to-operating profit ratio should be monitored for indications of valuation stretch relative to earnings growth.
Price to Sales (P/S)
Amphenol Corp., historical P/S calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 600,603,947 | 599,854,853 | 598,310,231 | 596,453,955 | 595,319,046 | 594,604,514 | 595,094,540 | 594,828,147 | 597,138,524 | 598,939,773 | 598,027,782 | 598,185,235 | 597,615,720 | 599,153,422 | 598,309,502 | 596,753,726 | 591,788,738 | 596,202,310 | 592,983,414 | 594,896,356 | 597,464,522 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Net sales (in thousands) | 3,256,300) | 3,327,600) | 3,199,200) | 3,053,900) | 2,974,000) | 3,239,100) | 3,295,200) | 3,136,800) | 2,951,900) | 3,026,800) | 2,818,500) | 2,653,900) | 2,377,100) | 2,426,000) | 2,323,400) | 1,987,500) | 1,862,000) | 2,151,000) | 2,100,600) | 2,015,300) | 1,958,500) | |||||||
| Sales per share2 | 21.37 | 20.93 | 20.84 | 21.06 | 21.24 | 21.23 | 20.86 | 20.06 | 19.18 | 18.16 | 17.18 | 16.35 | 15.25 | 14.35 | 13.91 | 13.58 | 13.74 | 13.80 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 120.49 | 104.26 | 79.31 | 87.57 | 75.47 | 81.28 | 76.43 | 77.13 | 71.50 | 79.99 | 76.77 | 72.49 | 67.34 | 65.66 | 59.88 | 52.20 | 43.09 | 51.78 | 50.12 | 47.64 | 49.99 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/S ratio4 | 5.64 | 4.98 | 3.81 | 4.16 | 3.55 | 3.83 | 3.66 | 3.84 | 3.73 | 4.40 | 4.47 | 4.43 | 4.42 | 4.58 | 4.30 | 3.85 | 3.14 | 3.75 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Apple Inc. | 7.44 | 7.17 | 7.41 | 7.09 | 6.31 | 6.28 | 6.74 | 6.61 | 7.35 | 6.72 | 6.90 | 6.85 | 7.82 | 6.74 | 6.64 | 4.68 | 5.30 | 4.25 | — | — | — | |||||||
| Arista Networks Inc. | 15.03 | 14.17 | 11.14 | 10.92 | 8.57 | 9.89 | 9.93 | 10.18 | 11.13 | 13.57 | 13.63 | 11.07 | 10.15 | 10.24 | — | — | — | — | — | — | — | |||||||
| Cisco Systems Inc. | 3.35 | 4.04 | 3.59 | 3.83 | 3.80 | 3.62 | 3.53 | 4.54 | 4.59 | 4.96 | 4.60 | 4.09 | 3.68 | 3.52 | 3.76 | 3.83 | 3.71 | 3.96 | — | — | — | |||||||
| Dell Technologies Inc. | 0.36 | 0.28 | 0.29 | 0.26 | 0.35 | 0.40 | 0.45 | 0.77 | 0.83 | 0.72 | 0.57 | 0.53 | 0.42 | 0.31 | — | — | — | — | — | — | — | |||||||
| Super Micro Computer Inc. | 1.84 | 1.90 | 1.10 | 0.68 | 0.67 | 0.70 | 0.57 | 0.47 | 0.62 | 0.51 | 0.54 | 0.50 | 0.44 | 0.43 | 0.40 | 0.43 | 0.37 | 0.32 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2024 Calculation
Sales per share
= (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
÷ No. shares of common stock outstanding
= (3,256,300,000 + 3,327,600,000 + 3,199,200,000 + 3,053,900,000)
÷ 600,603,947 = 21.37
3 Closing price as at the filing date of Amphenol Corp. Quarterly or Annual Report.
4 Q1 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 120.49 ÷ 21.37 = 5.64
5 Click competitor name to see calculations.
- Share Price Trend
- The share price displayed an overall upward trajectory from March 2019 to March 2024. Initially, it fluctuated mildly between approximately $47 and $52 during 2019 and early 2020. A noticeable increase occurred in the second half of 2020, reaching around $65 to $80 by the end of 2021. Despite some fluctuations, the price generally trended higher through 2022 and 2023, peaking at $104.26 in December 2023 and reaching its highest observed value of $120.49 in March 2024.
- Sales Per Share Trend
- Sales per share showed consistent growth from March 2020 onward, increasing from $13.8 to $21.37 by March 2024. This progression demonstrates steady revenue growth on a per-share basis over the analyzed periods, with no significant declines or volatility.
- Price-to-Sales (P/S) Ratio Behavior
- The P/S ratio exhibited more variability throughout the period. Starting at 3.75 in March 2020, it experienced a decline in mid-2020 to a low of 3.14, followed by a rise to above 4.5 by late 2020 and early 2021. Subsequently, it gradually decreased during 2022, dipping to around 3.55 to 3.84, before increasing again in late 2023 and early 2024, reaching 5.64 at the end of the period. This pattern suggests fluctuations in valuation relative to sales, with periods of both market undervaluation and premium pricing relative to sales.
- Relationship Between Share Price, Sales, and P/S
- While the share price and sales per share steadily increased over the period, the P/S ratio’s fluctuations indicate that the share price did not always move strictly in line with sales growth. The variations in the P/S ratio imply changing market sentiment and valuation multiples, suggesting that factors beyond sales performance influenced the stock’s price, including market conditions and investor expectations.
- Overall Insights
- The data reveals a positive long-term financial performance, with sales per share increasing consistently and share price showing strong growth. The P/S ratio's variability indicates dynamic valuation conditions, reflecting possible shifts in market confidence or broader economic influences over time. The robust increase in share price, especially during late 2023 and early 2024, could denote heightened investor optimism or improved business prospects during that timeframe.
Price to Book Value (P/BV)
Amphenol Corp., historical P/BV calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 600,603,947 | 599,854,853 | 598,310,231 | 596,453,955 | 595,319,046 | 594,604,514 | 595,094,540 | 594,828,147 | 597,138,524 | 598,939,773 | 598,027,782 | 598,185,235 | 597,615,720 | 599,153,422 | 598,309,502 | 596,753,726 | 591,788,738 | 596,202,310 | 592,983,414 | 594,896,356 | 597,464,522 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||
| Stockholders’ equity attributable to Amphenol Corporation (in thousands) | 8,681,500) | 8,346,500) | 7,856,800) | 7,513,700) | 7,308,100) | 7,015,600) | 6,570,900) | 6,464,300) | 6,426,100) | 6,302,000) | 5,945,900) | 5,715,500) | 5,461,000) | 5,384,900) | 5,040,200) | 4,738,600) | 4,385,800) | 4,530,300) | 4,155,300) | 4,148,300) | 4,123,100) | |||||||
| Book value per share (BVPS)2 | 14.45 | 13.91 | 13.13 | 12.60 | 12.28 | 11.80 | 11.04 | 10.87 | 10.76 | 10.52 | 9.94 | 9.55 | 9.14 | 8.99 | 8.42 | 7.94 | 7.41 | 7.60 | 7.01 | 6.97 | 6.90 | |||||||
| Share price1, 3 | 120.49 | 104.26 | 79.31 | 87.57 | 75.47 | 81.28 | 76.43 | 77.13 | 71.50 | 79.99 | 76.77 | 72.49 | 67.34 | 65.66 | 59.88 | 52.20 | 43.09 | 51.78 | 50.12 | 47.64 | 49.99 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||
| P/BV ratio4 | 8.34 | 7.49 | 6.04 | 6.95 | 6.15 | 6.89 | 6.92 | 7.10 | 6.64 | 7.60 | 7.72 | 7.59 | 7.37 | 7.31 | 7.11 | 6.57 | 5.81 | 6.81 | 7.15 | 6.83 | 7.24 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||
| Apple Inc. | 38.73 | 44.21 | 47.21 | 43.92 | 43.09 | 48.89 | 44.95 | 37.86 | 38.64 | 38.96 | 37.28 | 32.20 | 34.75 | 28.33 | 25.14 | 15.98 | 15.85 | 12.21 | 9.98 | 9.15 | 6.61 | |||||||
| Arista Networks Inc. | 11.63 | 11.50 | 9.58 | 9.81 | 7.81 | 8.87 | 8.90 | 8.90 | 8.46 | 10.05 | 9.78 | 7.87 | 7.24 | 7.15 | 6.12 | 5.89 | 5.53 | — | — | — | — | |||||||
| Cisco Systems Inc. | 4.30 | 5.19 | 4.66 | 4.91 | 4.94 | 4.69 | 4.51 | 5.92 | 5.46 | 5.99 | 5.59 | 5.02 | 4.64 | 4.57 | 5.33 | 5.56 | 5.60 | 6.12 | 6.57 | 5.36 | 4.56 | |||||||
| Dell Technologies Inc. | — | — | — | — | — | — | 4.99 | 15.40 | 22.52 | 27.38 | 59.76 | — | — | — | — | — | — | — | — | — | — | |||||||
| Super Micro Computer Inc. | 6.28 | 6.85 | 4.07 | 2.49 | 2.49 | 2.54 | 2.09 | 1.66 | 2.10 | 1.65 | 1.72 | 1.52 | 1.35 | 1.35 | 1.29 | 1.41 | 1.27 | 1.21 | 1.25 | 1.27 | 1.30 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q1 2024 Calculation
BVPS = Stockholders’ equity attributable to Amphenol Corporation ÷ No. shares of common stock outstanding
= 8,681,500,000 ÷ 600,603,947 = 14.45
3 Closing price as at the filing date of Amphenol Corp. Quarterly or Annual Report.
4 Q1 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 120.49 ÷ 14.45 = 8.34
5 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several noteworthy trends across the recorded periods.
- Share Price
- The share price experienced fluctuations with an overall upward trajectory from March 31, 2019, through March 31, 2024. Initially, the price moved within the $43 to $67 range, showing gradual increases with intermittent declines. From mid-2022 onwards, there was a marked increase, culminating in a peak share price of $120.49 by March 31, 2024. The data suggest strengthening investor confidence or improved market valuation over the observed timeframe.
- Book Value per Share (BVPS)
- Book value per share showed a steady and consistent increase throughout the quarters. Starting at $6.90 in March 2019, it rose incrementally each period, reaching $14.45 by March 2024. This steady growth indicates a continuous accumulation of net assets per share, reflecting enhancements in the company's underlying financial strength.
- Price-to-Book Value Ratio (P/BV)
- The P/BV ratio demonstrated considerable volatility relative to the steady increase in BVPS. It ranged from a low of approximately 5.81 to a high of 8.34, with multiple fluctuations in between. Notably, the ratio decreased to near 6.0 levels during some quarters despite rising book values, suggesting periods when the market price was relatively more conservative in valuing the company's net assets. Post mid-2022, the P/BV gradually increased, reaching 8.34 by the end of the period, which coincides with the surge in share price, indicating a potentially higher market premium over book value.
In summary, the company exhibited a robust and ongoing increase in book value per share, indicative of growing net asset value. The share price broadly followed an upward path, with exceptional acceleration in recent quarters, driving a rising P/BV multiple. This pattern suggests enhanced market optimism or improved growth prospects, although the fluctuations in the P/BV ratio imply varying degrees of market valuation relative to book value across different periods.