Operating Profit Margin
since 2005
Calculation
Amphenol Corp., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 20.39% | = | 100 | × | 2,559,600) | ÷ | 12,554,700) |
| Dec 31, 2022 | 20.48% | = | 100 | × | 2,585,800) | ÷ | 12,623,000) |
| Dec 31, 2021 | 19.35% | = | 100 | × | 2,105,100) | ÷ | 10,876,300) |
| Dec 31, 2020 | 19.05% | = | 100 | × | 1,638,400) | ÷ | 8,598,900) |
| Dec 31, 2019 | 19.69% | = | 100 | × | 1,619,200) | ÷ | 8,225,400) |
| Dec 31, 2018 | 20.57% | = | 100 | × | 1,686,900) | ÷ | 8,202,000) |
| Dec 31, 2017 | 20.36% | = | 100 | × | 1,427,600) | ÷ | 7,011,300) |
| Dec 31, 2016 | 19.17% | = | 100 | × | 1,205,200) | ÷ | 6,286,400) |
| Dec 31, 2015 | 19.84% | = | 100 | × | 1,104,700) | ÷ | 5,568,700) |
| Dec 31, 2014 | 19.35% | = | 100 | × | 1,034,600) | ÷ | 5,345,500) |
| Dec 31, 2013 | 19.43% | = | 100 | × | 896,813) | ÷ | 4,614,669) |
| Dec 31, 2012 | 19.30% | = | 100 | × | 828,345) | ÷ | 4,292,065) |
| Dec 31, 2011 | 19.08% | = | 100 | × | 751,678) | ÷ | 3,939,786) |
| Dec 31, 2010 | 19.71% | = | 100 | × | 700,357) | ÷ | 3,554,101) |
| Dec 31, 2009 | 17.34% | = | 100 | × | 488,913) | ÷ | 2,820,065) |
| Dec 31, 2008 | 19.53% | = | 100 | × | 632,239) | ÷ | 3,236,471) |
| Dec 31, 2007 | 19.39% | = | 100 | × | 552,858) | ÷ | 2,851,041) |
| Dec 31, 2006 | 17.18% | = | 100 | × | 424,592) | ÷ | 2,471,430) |
| Dec 31, 2005 | 18.99% | = | 100 | × | 343,327) | ÷ | 1,808,147) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial performance from 2005 to 2023 is characterized by substantial expansion in both top-line revenue and operating income. Net sales increased from approximately $1.81 billion in 2005 to $12.55 billion in 2023, while operating income grew from $343 million to $2.56 billion over the same period.
- Operating Margin Stability
- The operating profit margin has demonstrated remarkable consistency over the 19-year period, generally oscillating between 17% and 21%. This indicates a highly scalable business model capable of maintaining stable profitability ratios despite a nearly sevenfold increase in net sales.
- Analysis of Margin Fluctuations
- Notable dips in profitability occurred in 2006 (17.18%) and 2009 (17.34%). The 2009 decline coincided with a contraction in net sales, which fell from $3.24 billion in 2008 to $2.82 billion, suggesting a sensitivity to external economic volatility. However, the margin recovered rapidly to 19.71% by 2010.
- Recent Performance Trends
- A trend toward margin expansion is observed starting in 2017, with the ratio exceeding 20% for the first time in the analyzed period. Despite a brief moderation between 2019 and 2021, where the margin fluctuated between 19.05% and 19.69%, the ratio returned to a peak level of 20.48% in 2022 and remained strong at 20.39% in 2023.
- Scaling Efficiency
- The ability to increase operating income from $343 million to over $2.5 billion while keeping the operating profit margin within a tight band suggests effective cost management and the maintenance of pricing power during a period of aggressive growth.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Amphenol Corp., operating profit margin, long-term trends, comparison to competitors
| Amphenol Corp. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 20.39% | 29.82% | 38.52% | 26.37% | 5.64% | -6.55% | 10.68% |
| Dec 31, 2022 | 20.48% | 30.29% | 34.86% | 27.09% | 4.60% | 17.71% | 6.45% |
| Dec 31, 2021 | 19.35% | 29.78% | 31.37% | 25.76% | 5.46% | 30.24% | 3.48% |
| Dec 31, 2020 | 19.05% | 24.15% | 30.19% | 27.63% | 2.85% | 12.16% | 2.57% |
| Dec 31, 2019 | 19.69% | 24.57% | 33.42% | 27.39% | -0.21% | -1.38% | 2.78% |
| Dec 31, 2018 | 20.57% | 26.69% | 12.71% | 24.95% | — | 11.21% | 2.82% |
| Dec 31, 2017 | 20.36% | 26.76% | 28.57% | 24.94% | — | 4.75% | 3.82% |
| Dec 31, 2016 | 19.17% | 27.84% | 21.56% | 25.71% | — | 1.27% | 4.82% |
| Dec 31, 2015 | 19.84% | 30.48% | 17.83% | 21.91% | — | -2.80% | 7.37% |
| Dec 31, 2014 | 19.35% | 28.72% | 21.49% | 19.82% | — | — | 5.47% |
| Dec 31, 2013 | 19.43% | 28.67% | — | 23.03% | — | — | 2.34% |
| Dec 31, 2012 | 19.30% | 35.30% | — | 21.85% | — | — | 4.54% |
| Dec 31, 2011 | 19.08% | 31.22% | — | 17.76% | — | — | 6.23% |
| Dec 31, 2010 | 19.71% | 28.19% | — | 22.89% | — | — | 5.65% |
| Dec 31, 2009 | 17.34% | 20.96% | — | 20.27% | — | — | 4.60% |
| Dec 31, 2008 | 19.53% | 19.32% | — | 23.88% | — | — | 7.45% |
| Dec 31, 2007 | 19.39% | 18.37% | — | 24.69% | — | — | 7.11% |
| Dec 31, 2006 | 17.18% | 12.70% | — | 24.56% | — | — | — |
| Dec 31, 2005 | 18.99% | 11.84% | — | 29.90% | — | — | — |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).