Amphenol reported fourth-quarter fiscal 2025 revenue of $6.4 billion, representing a 49% increase in U.S. dollars and a 48% gain in local‐currency terms versus the year-ago period. GAAP operating income for the quarter reached $1.7 billion, yielding a 26.8% operating margin. Organic growth—excluding the impact of acquisitions and currency—was 37%, driven by broad strength across automotive, broadband communications and industrial markets. Adjusted diluted EPS climbed 76% year-over-year, reflecting both operating leverage and the contribution of acquisitions completed during the period.

For the full year, Amphenol generated record revenue of $23.1 billion, up 52% in U.S. dollars over 2024, with an adjusted operating margin of 26.2%. The company completed five strategic acquisitions, including the November closing of Trexon and the January 2026 acquisition of CommScope’s Connectivity and Cable Solutions (CCS) unit, which is expected to contribute approximately $4.1 billion of annual sales and $0.15 to adjusted EPS in fiscal 2026. Share repurchases and dividends totaled nearly $1.5 billion for the year, underlining management’s commitment to returning capital to shareholders.

Despite the strong results, Amphenol shares fell over 10% in post-earnings trading, as investors expressed concern that the modest earnings beat fell short of lofty expectations. The stock trades at a trailing P/E ratio of approximately 48, reflecting its robust growth profile and high margins. Seaport Global reiterated an optimistic price target of $210—implying roughly 40.4% upside from the current level—citing sustained demand in AI-driven data centers and the company’s diversified end-market exposure.

Looking ahead, management expects first-quarter 2026 revenue of $6.90 billion to $7.00 billion—up 43% to 45% year-over-year—and adjusted diluted EPS of $0.91 to $0.93, a 44% to 48% increase over the year-earlier quarter. Guidance includes approximately $900 million of sales and $0.02 of EPS accretion from the CCS business. The forecast assumes constant currency, reinforcing confidence in broad end-market growth and the contribution of recent acquisitions.