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Amphenol cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$1.6B in Q3 2026 · $5.1B over twelve months

Operating cash flow$2.1B
Capital spending−$457M
Free cash flow+$1.6B
Cash / net income1.0×
Cash conversion cycle72 days

Analysis

In Q3 2026, Amphenol generated $2.1B of operating cash flow and spent $457M on capital projects, leaving free cash flow of $1.6B. That is $408M more than in Q3 2025 ($1.2B).

Over the twelve months to Sep 30, 2026, operating cash flow was $6.5B; the largest uses were acquisitions ($12.1B), net borrowing (+) / repaid (−) ($2.5B), capital spending ($1.4B); besides operations, cash came from other financing ($12.3B), shares issued ($405M); the cash balance rose by $374M.

Operating cash flow was $2.1B against net income of $2.1B — 1.0× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$348M, stock-based pay +$47.0M, deferred taxes −$38.2M.

Its cash conversion cycle was 72 days (receivables 66 + inventory 73 − payables 66).

Free cash flow

Amphenol: free cash flow by quarterAmphenol: free cash flow by quarter$647MQ4 2024$576MQ1 2025$1.1BQ2 2025$1.2BQ3 2025$1.5BQ4 2025$830MQ1 2026$1.2BQ2 2026$1.6BQ3 2026
Operating cash flow less capital spending.
Amphenol: operating cash flow against capital spendingAmphenol: operating cash flow against capital spendingOperating cash flowCapital spending$847M$200MQ4 2024$765M$189MQ1 2025$1.4B$297MQ2 2025$1.5B$257MQ3 2025$1.7B$254MQ4 2025$1.1B$292MQ1 2026$1.6B$356MQ2 2026$2.1B$457MQ3 2026
Latest (Q3 2026): Operating cash flow $2.1B, Capital spending $457M.

Capital allocation, year by year

Amphenol: where the cash came from (up) and went (down), by fiscal yearAmphenol: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.5BFY2021: Net borrowing $636MFY2021: Shares issued $288MFY2021: Asset sales $3.7MFY2021: Capital spending −$360MFY2021: Acquisitions −$2.2BFY2021: Buybacks −$662MFY2021: Dividends −$347M$2.5BFY2021FY2022: Operating cash flow $2.2BFY2022: Net borrowing −$164MFY2022: Shares issued $185MFY2022: Asset sales $5.6MFY2022: Capital spending −$384MFY2022: Acquisitions −$288MFY2022: Buybacks −$730MFY2022: Dividends −$477M$2.4BFY2022FY2023: Operating cash flow $2.5BFY2023: Net borrowing −$293MFY2023: Shares issued $394MFY2023: Asset sales $4.0MFY2023: Capital spending −$373MFY2023: Acquisitions −$970MFY2023: Buybacks −$585MFY2023: Dividends −$501M$2.9BFY2023FY2024: Operating cash flow $2.8BFY2024: Net borrowing $2.6BFY2024: Shares issued $447MFY2024: Asset sales $7.8MFY2024: Capital spending −$665MFY2024: Acquisitions −$2.2BFY2024: Buybacks −$689MFY2024: Dividends −$595M$5.9BFY2024FY2025: Operating cash flow $5.4BFY2025: Net borrowing $8.5BFY2025: Shares issued $553MFY2025: Asset sales $14.8MFY2025: Capital spending −$997MFY2025: Acquisitions −$3.8BFY2025: Buybacks −$665MFY2025: Dividends −$802M$14.5BFY2025
Over these 5 years operating cash flow totalled $14.4B; the largest uses were acquisitions ($9.5B) and buybacks ($3.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.3B
Debt$17.9B
Net debt$12.6B
Due within a year$937M

Amphenol funds itself: free cash flow was $5.1B over the last twelve months, and $5.3B of cash and investments stands against $17.9B of debt ($937M due within a year, 5.7× covered by cash).

Amphenol: debt maturities by year (FY2025)Amphenol: debt maturities by year (FY2025)$937MYear 1$2.0BYear 2$2.1BYear 3$950MYear 4$1.9BYear 5$7.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $5.3B of cash and investments now.

Where the cash came from and went

Amphenol: sources (+) and uses (−) of cash, Q3 2026Amphenol: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$2.1BNet borrowing (+) / repaid (−)−$938MCash drawn (+) / kept (−)$556MCapital spending−$457MOther investing−$448MAcquisitions−$372MDividends−$308MBuybacks−$245MShares issued$97.1MExchange rates$33.0MAsset & business sales$1.4MOther financing$1.2M
Amphenol: sources (+) and uses (−) of cash, TTM to Q3 2026Amphenol: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$12.3BAcquisitions−$12.1BOperating cash flow$6.5BNet borrowing (+) / repaid (−)−$2.5BCapital spending−$1.4BDividends−$1.1BOther investing−$1.0BBuybacks−$802MShares issued$405MCash drawn (+) / kept (−)−$374MExchange rates$107MAsset & business sales$13.7M

From profit to cash

Amphenol: net income to operating cash flow, Q3 2026Amphenol: net income to operating cash flow, Q3 2026Net income$2.1BDepreciation & amortization$348MStock-based pay$47.0MDeferred taxes−$38.2MOperating cash flow$2.1B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202666736672
Q2 202666756378
Q1 202663705578
Q4 202566785985
Q3 202565775885
Q2 202566765785
Q1 202567775689
Q4 202468835893

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$2.1B−$457M−$372M−$245M−$308M−$938M$97.1M$556M$1.6B
Q2 2026$1.6B−$356M−$92.2M−$208M−$307M−$1.2B$105M−$601M$1.2B
Q1 2026$1.1B−$292M−$10.6B−$178M−$307M−$351M$95.9M$7.0B$830M
Q4 2025$1.7B−$254M−$1.0B−$171M−$202M−$400K$108M−$7.3B$1.5B
Q3 2025$1.5B−$257M−$289M−$153M−$201M−$400K$112M−$592M$1.2B
Q2 2025$1.4B−$297M−$311M−$160M−$200M−$640M$281M−$1.5B$1.1B
Q1 2025$765M−$189M−$2.2B−$181M−$200M$239M$53.2M$1.7B$576M
Q4 2024$847M−$200M−$56.6M−$169M−$199M−$10.7M$127M−$1.8B$647M

Amphenol: income statement and cash flow

Amphenol, Q3 2026: revenue $10.2B (+65% year over year), operating margin 29.5%. The chart follows the revenue to costs, profit and cash.

Amphenol: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.