Amphenol (APH) Q4 FY2021 earnings: revenue $3.0 billion, up 24.8% on the year

Amphenol Corp. (APH) reported revenue of $3.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 24.8% on the same quarter a year earlier. Net income was $465 million, up 30.2% on the year, and diluted earnings per share $0.18. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2022.

Revenue

$3.0 billion

+24.8% on the year · +7.4% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

19.6%

20.1% a year earlier

Q1 FY2020Q4 FY2021

Net income

$465 million

+30.2% on the year · +9.0% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.18

+28.7% on the year · +8.8% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	3,027	2,818	2,426	+7.4%	+24.8%
Cost of revenue	2,086	n/a	n/a
Gross profit	941	n/a	n/a
Gross margin	31.1%	n/a	n/a
Selling, general and administrative	333	n/a	n/a
Operating income	593	571	488	+3.8%	+21.4%
Operating margin	19.6%	20.3%	20.1%
Interest expense	28.8	n/a	n/a
Pre-tax income	564	n/a	n/a
Income tax	106	n/a	n/a
Effective tax rate	18.9%	n/a	n/a
Net income	465	426	357	+9.0%	+30.2%
Net margin	15.4%	n/a	n/a
Diluted EPS	$0.18	$0.17	$0.14	+8.8%	+28.7%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	471	n/a	n/a
Capital expenditure	86.2	n/a	n/a
Free cash flow	384	n/a	n/a
Free cash flow margin	12.7%	n/a	n/a
Cash from investing	-72.8	n/a	n/a
Cash from financing	-584	n/a	n/a
Depreciation and amortisation	121	95.2	90.1	+27.2%	+34.4%
Share-based compensation	22.7	n/a	n/a
Buybacks	171	n/a	n/a
Dividends paid	86.7	n/a	n/a
Dividend per share	$0.05	n/a	n/a
Diluted shares, weighted	2,502m	2,503m	n/a	-0.0%
Shares outstanding at period end	2,396m	2,392m	2,394m	+0.2%	+0.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	6,302	5,946	5,385	+6.0%	+17.0%
Non-controlling interest	58.1	n/a	n/a
Redeemable equity	19.0	n/a	n/a
Debt	4,796	5,249	3,866	-8.6%	+24.0%
Operating lease liabilities	180	n/a	n/a
Other liabilities	3,323	n/a	n/a
Total liabilities and equity	14,678	n/a	n/a
Fixed assets	1,175	n/a	n/a
Goodwill	6,377	n/a	n/a
Intangible assets	757	n/a	n/a
Investments	44.3	n/a	n/a
Cash and equivalents	1,197	1,268	1,702	-5.6%	-29.7%
Receivables	2,455	n/a	n/a
Inventory	1,894	n/a	n/a
Other assets	779	n/a	n/a
Total assets	14,678	n/a	n/a

Questions

What was Amphenol's revenue in Q4 FY2021?

Amphenol (APH) reported revenue of $3.0 billion for Q4 FY2021, the quarter ended 31 December 2021, up 24.8% on the same quarter a year earlier.

How much did Amphenol earn in Q4 FY2021?

Net income for Q4 FY2021 was $465 million, up 30.2% on the year, and diluted earnings per share $0.18.

When did Amphenol report Q4 FY2021 results?

Amphenol filed its 10-K for the year that ended with the quarter on 9 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,027	2,952	3,137	3,295	3,239	2,974	3,054	3,199	3,328	3,256	3,610	4,039	4,318	4,811	5,650	6,194	6,439	7,620	8,758	10,230
Cost of revenue	2,086	2,025	2,133	2,235	2,202	2,031	2,062	2,151	2,227	2,167	2,397	2,682	2,837	3,167	3,597	3,835	3,978	4,820	5,210	6,214
Gross profit	941	927	1,004	1,060	1,037	943	992	1,048	1,100	1,089	1,213	1,357	1,481	1,644	2,053	2,359	2,461	2,800	3,548	4,016
Gross margin	31%	31%	32%	32%	32%	32%	32%	33%	33%	33%	34%	34%	34%	34%	36%	38%	38%	37%	41%	39%
SG&A	333	337	355	367	362	346	368	382	394	404	444	492	515	575	622	657	691	852	940	980
Operating income	593	590	649	681	666	592	620	658	690	685	699	820	954	1,025	1,419	1,702	1,723	1,832	2,585	3,021
Operating margin	20%	20%	21%	21%	21%	20%	20%	21%	21%	21%	19%	20%	22%	21%	25%	27%	27%	24%	30%	30%
Interest expense	28.8	28.1	30.5	32.8	37.0	35.9	35.0	33.6	35.0	38.1	56.3	55.7	66.9	76.5	80.9	80.7	130	208	214	212
Pre-tax income	564	563	621	651	632	560	596	634	666	663	664	775	910	963	1,348	1,641	1,649	1,646	2,388	2,829
Tax rate	19%	24%	23%	23%	19%	21%	22%	18%	22%	17%	20%	21%	17%	23%	18%	24%	27%	43%	25%	27%
Net income	465	426	472	497	508	439	460	514	514	549	525	604	746	738	1,091	1,246	1,196	933	1,769	2,034
Net margin	15%	14%	15%	15%	16%	15%	15%	16%	15%	17%	15%	15%	17%	15%	19%	20%	19%	12%	20%	20%
Diluted EPS	$0.18	$0.17	$0.19	$0.20	$0.20	$0.18	$0.18	$0.21	$0.21	$0.22	$0.20	$0.24	$0.29	$0.29	$0.43	$0.48	$0.47	$0.36	$0.69	$0.79
Operating cash flow	471	351	542	576	705	532	536	618	842	600	664	704	847	765	1,417	1,471	1,722	1,122	1,557	2,078
Capital expenditure	86.2	78.1	91.1	121	93.6	97.7	95.4	74.7	105	94.3	141	230	200	189	297	257	254	292	356	457
Free cash flow	384	273	451	455	612	435	441	543	737	505	523	474	647	576	1,120	1,214	1,468	830	1,202	1,621
Buybacks	171	204	186	170	170	167	154	149	115	154	190	176	169	181	160	153	171	178	208	245
Dividends paid	86.7	120	120	119	119	125	125	125	126	132	132	132	199	200	200	201	202	307	307	308
Shares outstanding	2,396m	2,389m	2,379m	2,380m	2,379m	2,381m	2,386m	2,393m	2,396m	2,402m	2,409m	2,411m	2,419m	2,419m	2,442m	2,448m	2,453m	2,460m	2,466m	2,469m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 9 February 2022: the filing.