Amphenol Corporation (APH)

Industry: Hardware, Equipment & Parts Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
0285.HK	8	BYD Electronic (In	47,076	9.35	7.03	3.87	2.81	11.16	-
002475.SZ	9	Luxshare Precision	44,358	29.75	24.91	24.67	21.06	28.68	23.67
0J51.L	10	Hewlett Packard En	34,296	567.23	567.23	18.62	18.53	18.20	29.43
JBL	11	Jabil Inc.	29,802	33.51	20.33	12.83	11.85	17.40	16.70
200725.SZ	12	BOE Technology Gro	29,276	15.28	11.29	12.80	14.02	18.94	20.24
0QLW.L	13	ALSO Holding AG	25,852	15.95	14.02	8.20	7.20	10.50	8.47
TEL	14	TE Connectivity Lt	21,485	34.76	34.76	16.62	13.16	23.01	18.94
APH	15	Amphenol Corporati	20,974	39.57	31.20	25.98	20.61	22.83	23.74
FLEX	16	Flex Ltd.	20,393	24.66	20.22	12.67	11.63	19.97	16.50
2308.TW	17	Delta Electronics,	16,110	44.40	38.06	22.05	18.69	21.87	26.46
036180.KS	18	GW Vitek Co Ltd	15,771	-	-	-	-	-	-
LPTH	19	LightPath Technolo	15,087	-	-	-	-	-	-
0R2X.L	20	Corning Incorporat	14,915	51.64	37.93	22.61	20.45	33.14	24.12
011070.KS	21	LG Innotek Co., Lt	14,380	12.06	11.51	3.22	3.14	96.17	8.71
6762.T	22	TDK Corporation	14,272	21.59	17.72	8.07	7.17	14.08	11.93
6981.T	23	Murata Manufacturi	11,323	21.95	21.07	9.46	9.10	11.24	15.39

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	21.95	20.22	12.67	11.63	18.20	16.60
Full Range Median Multiple	24.66	20.33	12.80	11.85	18.94	17.82
Industry Multiple	67.86	63.54	13.51	12.22	24.95	18.38
Market Implied Multiple	49.37	38.93	32.23	25.57	28.33	29.45
Company (APH) Multiple	39.57	31.20	25.98	20.61	22.83	23.74
(*) Net Income / EBITDA / Revenue	3,821	4,846	5,985	7,545	6,809	6,550
Winsorized Enterprise Value	N/A	N/A	75,798	87,768	123,934	108,723
Full Range Median Enterprise Value	N/A	N/A	76,587	89,411	128,976	116,743
(-) Net Debt	4,268	4,268	4,268	4,268	4,268	4,268
Winsorized Equity Value	83,868	97,955	71,531	83,500	119,666	104,455
Full Range Median Equity Value	94,230	98,492	72,320	85,143	124,709	112,475
(/) Shares Outstanding	1,222	1,222	1,222	1,222	1,222	1,222
Winsorized Fair Value	$68.64	$80.17	$58.55	$68.34	$97.94	$85.49
Full Range Median Fair Value	$77.12	$80.61	$59.19	$69.69	$102.07	$92.06
Current Price	$154.39	$154.39	$154.39	$154.39	$154.39	$154.39
Upside / Downside	-55.54%	-48.07%	-62.08%	-55.73%	-36.56%	-44.63%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$48.05	$56.12	$40.98	$47.84	$68.56	$59.85
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy