APH (Amphenol Corp) vs S&P 500 Comparison

APH

S&P 500

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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APH

S&P 500

Difference

1Y 3Y 5Y 10Y 15Y 20Y

APH

S&P 500

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Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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S&P 500

APH

0LHO

DELTA

GLW

002475

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1Y 3Y 5Y 10Y 15Y 20Y

Compare the stock's returns with its benchmark index and competitors. Gain insights into its relative performance over time.

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Amphenol Corp
Glance View

Economic Moat

Narrow

Market Cap

86.5B USD

Industry

Electrical Equipment

Amphenol Corporation, rooted in the intricate networks of connectivity that drive modern technology, operates like a sophisticated web, essential yet largely unseen by the everyday consumer. Its inception dates back to 1932, and over the decades, it has woven itself into the fabric of countless industries. From aerospace to telecommunications, Amphenol's connections serve as the critical nerve system, ensuring seamless communication and power distribution. The company specializes in manufacturing a diverse range of connectors and interconnect systems, deftly catering to the needs of an increasingly connected world. Its product lines, vast and varied, touch upon everything from fiber optics to wireless infrastructure, industrial automation to automotive technology, forming a bridge between component functionality and innovative application. Amphenol's business model effectively capitalizes on its vast array of products and the industries it serves. It generates revenue primarily through the sale of high-performance components and systems that are indispensable for technological advancement. These components are not mere add-ons; they are integral to the functionality and efficiency of the final products, making Amphenol a pivotal player in its clients' supply chains. The company thrives on its ability to tailor solutions to meet the unique needs of its diverse clientele, employing a strategy that is both financially robust and innovative. This allows Amphenol to maintain a dynamic equilibrium between adaptability and profitability, ensuring steady growth and a solid foundation in the volatile tech landscape.

View APH Analysis

APH Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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US	I	II-VI Inc LSE:0LHO	Select
TH		Delta Electronics Thailand PCL SET:DELTA	Select
US		Corning Inc NYSE:GLW	Select
CN		Luxshare Precision Industry Co Ltd SZSE:002475	Select
TW		Delta Electronics Inc TWSE:2308	Select
JP		Murata Manufacturing Co Ltd TSE:6981	Select
JP		TDK Corp TSE:6762	Select
CN		BOE Technology Group Co Ltd SZSE:000725	Select
CN	L	Lens Technology Co Ltd SZSE:300433	Select
US		Coherent Corp NYSE:COHR	Select

US	I	II-VI Inc LSE:0LHO	Add
TH		Delta Electronics Thailand PCL SET:DELTA	Add
US		Corning Inc NYSE:GLW	Add
CN		Luxshare Precision Industry Co Ltd SZSE:002475	Add
TW		Delta Electronics Inc TWSE:2308	Add
JP		Murata Manufacturing Co Ltd TSE:6981	Add
JP		TDK Corp TSE:6762	Add
CN		BOE Technology Group Co Ltd SZSE:000725	Add
CN	L	Lens Technology Co Ltd SZSE:300433	Add
US		Coherent Corp NYSE:COHR	Add

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APH

vs

S&P 500

Stocks Performance
APH vs S&P 500

Performance Gap
APH vs S&P 500

Performance By Year
APH vs S&P 500

Competitors Performance
Amphenol Corp vs Peers

Amphenol Corp
Glance View

Company

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APH vs S&P 500

Stocks Performance APH vs S&P 500

Performance Gap APH vs S&P 500

Performance By Year APH vs S&P 500

Competitors Performance Amphenol Corp vs Peers

Amphenol Corp Glance View

Company

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Stocks

APH

vs

S&P 500

Stocks Performance
APH vs S&P 500

Performance Gap
APH vs S&P 500

Performance By Year
APH vs S&P 500

Competitors Performance
Amphenol Corp vs Peers

Amphenol Corp
Glance View