Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Amphenol Corp., consolidated cash flow statement (quarterly data)
US$ in thousands
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).
- Net Income from Continuing Operations
- The net income shows a generally upward trend from 2019 through 2024, starting at approximately $270 million in Q1 2019 and reaching $552 million by Q1 2024. There are fluctuations within quarters, but the overall trajectory indicates growth in profitability over the period analyzed. Notably, there is a significant increase from mid-2020 onward, with peaks observed in late 2021 and late 2022.
- Depreciation and Amortization
- Depreciation and amortization expenses fluctuate over the quarters with values ranging from $72 million to $121 million. The highest values are recorded in late 2021 and again toward the end of 2023 and early 2024, suggesting periods of increased capital asset usage or additions to fixed assets.
- Stock-Based Compensation Expense
- This expense steadily increases over time, starting from $14.4 million in early 2019 and reaching around $26.6 million in late 2023. This gradual rise indicates enhanced compensation costs tied to stock incentives for employees or management.
- Deferred Income Tax Provision (Benefit)
- The deferred tax figures show volatility with both positive and negative values, including a pronounced benefit of approximately -$54.5 million in late 2021 and a large provision of $52.7 million in late 2019. This pattern suggests fluctuating tax liabilities or changes in tax positions reflecting shifting financial circumstances.
- Net Change in Operating Working Capital
- Working capital changes demonstrate considerable volatility and multiple large outflows, particularly in late 2021 and early 2022 where changes reach negative values exceeding $180 million. Such fluctuations indicate periods of significant changes in current assets and liabilities, impacting cash flow.
- Net Cash Provided by Operating Activities
- Operating cash flow remains robust throughout the periods, generally exceeding $300 million each quarter, with a notable surge to $841.8 million in Q4 2023. While some dips occur, the data suggests strong cash generation capability, aligned broadly with the increasing net income trend.
- Capital Expenditures
- Capital expenditures maintain a relatively consistent range from approximately $60 million to $121 million per quarter, with spikes in late 2022. The stability indicates ongoing investment in property, plant, and equipment, though the spikes reveal increased investment activity at specific times.
- Proceeds from Disposals of Property, Plant and Equipment
- Proceeds from disposals are relatively minor compared to capital expenditures and remain between $300,000 and $9 million per quarter, showing limited divestiture of assets.
- Purchases and Sales of Investments
- Purchases of investments generally exceed sales in many quarters, peaking with large purchases over $100 million in early and late 2022. Sales show sharp increases in Q3 2022 and Q4 2023, with notably high proceeds indicating strategic investment portfolio adjustments.
- Acquisitions (Net of Cash Acquired)
- There are significant acquisition expenditures in several quarters, especially noticeable in early 2021 and late 2021, with outflows exceeding $600 million in some periods. This pattern reflects active acquisitions contributing to growth or strategic expansion.
- Net Cash Used in Investing Activities
- Investing cash flow is predominantly negative, consistent with capital expenditures, acquisitions, and investment purchases. Notable exceptions occur around mid-2021 with large negative outflows due to acquisitions. Overall, investing cash outflows are substantial relative to inflows from sales and disposals.
- Debt Financing Activities
- Proceeds from issuance of senior notes and other long-term debt show large inflows, especially mid-2020 and mid-2021, with notable repayments occurring frequently, demonstrating active debt management. Borrowings under credit facilities and commercial paper programs exhibit large swings, indicating short-term financing adjustments to support operations and capital needs.
- Repayments of Debt and Related Costs
- Repayments of senior notes and other debt are sizeable in many quarters, often closely following debt issuance spikes. There are also episodes of debt extinguishment losses and related fees, indicating occasional restructuring or refinancing efforts.
- Share Repurchases and Proceeds from Stock Options
- Purchases of treasury stock consistently represent significant cash outflows each quarter, often surpassing $150 million, showing a strong shareholder return strategy via buybacks. Proceeds from stock option exercises provide partial offsets, with increasing trends toward 2024, reflecting employee stock compensation activities.
- Dividend Payments
- Dividend payments are relatively stable, averaging roughly $75 million to $130 million each quarter, with a clear modest upward trend throughout the period, indicating ongoing shareholder returns through dividends.
- Net Cash Provided by (Used in) Financing Activities
- Financing cash flows fluctuate significantly, at times resulting in inflows due to debt issuances and at others showing large outflows primarily driven by debt repayments and share repurchases. The pattern reflects active capital structure management in response to operational and investment needs.
- Effect of Exchange Rate Changes
- The impact of foreign currency fluctuations on cash and cash equivalents varies considerably, with both positive and negative values that occasionally reach tens of millions of dollars. This indicates exposure to currency risk impacting reported cash balances.
- Overall Cash Position
- The net change in cash and cash equivalents is highly variable, with substantial increases occurring sporadically, notably in Q2 2020 and Q4 2023. Negative changes occur frequently, reflecting the combined effects of investing, financing, and operating cash flows. The variability suggests dynamic liquidity management in response to business demands.