Return on Equity (ROE)
since 2005
Calculation
Amphenol Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income attributable to Amphenol Corporation1 | ÷ | Stockholders’ equity attributable to Amphenol Corporation1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 23.10% | = | 100 | × | 1,928,000) | ÷ | 8,346,500) |
| Dec 31, 2022 | 27.12% | = | 100 | × | 1,902,300) | ÷ | 7,015,600) |
| Dec 31, 2021 | 25.24% | = | 100 | × | 1,590,800) | ÷ | 6,302,000) |
| Dec 31, 2020 | 22.35% | = | 100 | × | 1,203,400) | ÷ | 5,384,900) |
| Dec 31, 2019 | 25.50% | = | 100 | × | 1,155,000) | ÷ | 4,530,300) |
| Dec 31, 2018 | 30.00% | = | 100 | × | 1,205,000) | ÷ | 4,017,000) |
| Dec 31, 2017 | 16.30% | = | 100 | × | 650,500) | ÷ | 3,989,800) |
| Dec 31, 2016 | 22.39% | = | 100 | × | 822,900) | ÷ | 3,674,900) |
| Dec 31, 2015 | 23.58% | = | 100 | × | 763,500) | ÷ | 3,238,500) |
| Dec 31, 2014 | 24.39% | = | 100 | × | 709,100) | ÷ | 2,907,400) |
| Dec 31, 2013 | 22.23% | = | 100 | × | 635,672) | ÷ | 2,859,509) |
| Dec 31, 2012 | 22.85% | = | 100 | × | 555,317) | ÷ | 2,429,959) |
| Dec 31, 2011 | 24.14% | = | 100 | × | 524,191) | ÷ | 2,171,769) |
| Dec 31, 2010 | 21.39% | = | 100 | × | 496,405) | ÷ | 2,320,855) |
| Dec 31, 2009 | 18.20% | = | 100 | × | 317,834) | ÷ | 1,746,077) |
| Dec 31, 2008 | 31.06% | = | 100 | × | 419,151) | ÷ | 1,349,425) |
| Dec 31, 2007 | 27.92% | = | 100 | × | 353,194) | ÷ | 1,264,914) |
| Dec 31, 2006 | 28.32% | = | 100 | × | 255,691) | ÷ | 902,994) |
| Dec 31, 2005 | 29.94% | = | 100 | × | 206,339) | ÷ | 689,235) |
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
Amphenol Corporation has demonstrated substantial growth in both net income and stockholders' equity over the period from 2005 to 2023. Net income attributable to the corporation increased from approximately 206 million USD in 2005 to 1.928 billion USD by 2023. During the same timeframe, stockholders' equity expanded from 689 million USD to 8.347 billion USD, indicating a consistent accumulation of capital and a significant increase in the company's asset base.
- Return on Equity (ROE) Trends
- The ROE exhibited a general range of stability between 22% and 31% for the majority of the analyzed period. A notable contraction occurred in 2009, where ROE fell to 18.20%, representing a significant dip from the 31.06% recorded in 2008. Following this decline, the ratio recovered and remained largely stable between 21% and 24% from 2010 through 2016.
- Profitability Volatility and Recovery
- A sharp fluctuation is observed between 2017 and 2018. In 2017, ROE declined to 16.30%, which coincided with a decrease in net income to 650.5 million USD. This was immediately followed by a surge in 2018, where ROE reached 30.00%. This spike was driven by a substantial increase in net income to 1.205 billion USD while the equity base remained relatively flat at approximately 4 billion USD.
- Long-term Capital Efficiency
- From 2019 to 2023, ROE stabilized within a corridor of 22.35% to 27.12%. Despite the equity base growing more than twofold between 2017 and 2023, the corporation maintained a consistently high ROE. This suggests that net income growth has effectively scaled alongside the expansion of stockholders' equity, preventing the dilution of returns as the company grew in size.
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Comparison to Competitors
Amphenol Corp., ROE, 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 | 23.10% | 156.08% | 28.91% | 28.44% | — | -9.71% | 32.45% |
| Dec 31, 2022 | 27.12% | 196.96% | 27.68% | 29.70% | — | 10.61% | 20.00% |
| Dec 31, 2021 | 25.24% | 150.07% | 21.13% | 25.66% | 131.10% | 20.14% | 10.20% |
| Dec 31, 2020 | 22.35% | 87.87% | 19.11% | 29.57% | — | 7.75% | 7.91% |
| Dec 31, 2019 | 25.50% | 61.06% | 29.71% | 34.62% | — | -2.43% | 7.64% |
| Dec 31, 2018 | 30.00% | 55.56% | 15.31% | 0.25% | — | 26.79% | 5.47% |
| Dec 31, 2017 | 16.30% | 36.07% | 25.46% | 14.53% | — | -16.56% | 8.64% |
| Dec 31, 2016 | 22.39% | 35.62% | 16.63% | 16.89% | — | 1.87% | 9.99% |
| Dec 31, 2015 | 23.58% | 44.74% | 15.37% | 15.04% | — | -0.89% | 16.46% |
| Dec 31, 2014 | 24.39% | 35.42% | 15.63% | 13.86% | — | — | 11.55% |
| Dec 31, 2013 | 22.23% | 29.98% | — | 16.89% | — | — | 5.70% |
| Dec 31, 2012 | 22.85% | 35.30% | — | 15.68% | — | — | 8.82% |
| Dec 31, 2011 | 24.14% | 33.83% | — | 13.74% | — | — | 14.00% |
| Dec 31, 2010 | 21.39% | 29.32% | — | 17.55% | — | — | 11.98% |
| Dec 31, 2009 | 18.20% | 20.49% | — | 15.87% | — | — | 9.02% |
| Dec 31, 2008 | 31.06% | 22.99% | — | 23.44% | — | — | 16.74% |
| Dec 31, 2007 | 27.92% | 24.06% | — | 23.29% | — | — | 16.69% |
| Dec 31, 2006 | 28.32% | 19.92% | — | 23.34% | — | — | — |
| Dec 31, 2005 | 29.94% | 17.88% | — | 24.77% | — | — | — |
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).
Comparison to Sector (Technology Hardware & Equipment)
Amphenol Corp., ROE, long-term trends, comparison to sector (technology hardware & equipment)
| Amphenol Corp. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | 23.10% | 100.63% |
| Dec 31, 2022 | 27.12% | 122.76% |
| Dec 31, 2021 | 25.24% | 96.47% |
| Dec 31, 2020 | 22.35% | 68.72% |
| Dec 31, 2019 | 25.50% | 52.95% |
| Dec 31, 2018 | 30.00% | 39.07% |
| Dec 31, 2017 | 16.30% | 28.71% |
| Dec 31, 2016 | 22.39% | 29.20% |
| Dec 31, 2015 | 23.58% | 34.61% |
| Dec 31, 2014 | 24.39% | 28.07% |
| Dec 31, 2013 | 22.23% | 25.70% |
| Dec 31, 2012 | 22.85% | 29.32% |
| Dec 31, 2011 | 24.14% | 26.14% |
| Dec 31, 2010 | 21.39% | 23.63% |
| Dec 31, 2009 | 18.20% | 17.78% |
| Dec 31, 2008 | 31.06% | 23.25% |
| Dec 31, 2007 | 27.92% | 23.52% |
| Dec 31, 2006 | 28.32% | 22.33% |
| Dec 31, 2005 | 29.94% | 23.09% |
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).
Comparison to Industry (Information Technology)
Amphenol Corp., ROE, long-term trends, comparison to industry (information technology)
| Amphenol Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 23.10% | 31.26% |
| Dec 31, 2022 | 27.12% | 38.03% |
| Dec 31, 2021 | 25.24% | 41.64% |
| Dec 31, 2020 | 22.35% | 35.38% |
| Dec 31, 2019 | 25.50% | 35.94% |
| Dec 31, 2018 | 30.00% | 30.23% |
| Dec 31, 2017 | 16.30% | 23.19% |
| Dec 31, 2016 | 22.39% | 23.00% |
| Dec 31, 2015 | 23.58% | 25.97% |
| Dec 31, 2014 | 24.39% | 25.43% |
| Dec 31, 2013 | 22.23% | 24.73% |
| Dec 31, 2012 | 22.85% | 26.09% |
| Dec 31, 2011 | 24.14% | 29.03% |
| Dec 31, 2010 | 21.39% | 27.62% |
| Dec 31, 2009 | 18.20% | 20.05% |
| Dec 31, 2008 | 31.06% | 25.24% |
| Dec 31, 2007 | 27.92% | 23.67% |
| Dec 31, 2006 | 28.32% | 22.58% |
| Dec 31, 2005 | 29.94% | 21.92% |
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).