Amphenol Corporation (APH)
Amphenol makes electronic connectors, cables, and sensors used across communications, industrial, automotive, and defense systems.
APH vs STX: how the two businesses compare
- Bigger business: APH, with $23.1B of yearly revenue, about 2.5× STX's $9.1B.
- More profitable: APH keeps 18 cents of each sales dollar as profit, against 16 cents at STX.
- More cash from each sale: APH turns 23 cents of each sales dollar into operating cash flow, against 12 cents at STX.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Amphenol (APH) is the larger business by reported revenue: $23.1B in its fiscal year ended Dec 2025, about 2.5× STX's $9.1B (fiscal year ended Jun 2025). APH's net margin was 18.5% and STX's 16.1%. The SEC classifies them differently (Electronic Connectors; Computer Storage Devices); what connects them is shared exposure to the Tariffs & trade research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Different
- Separate classifications
- Different
- APH December 31 · STX June 27
- Aug 4, 2026
APH vs STX: quick comparison
| Company fact | APH | STX |
|---|---|---|
| Company | Amphenol Corporation | Seagate Technology Holdings plc |
| Exchange | NYSE | NASDAQ |
| SEC industry | Electronic Connectors | Computer Storage Devices |
| Fiscal year-end | December 31 | June 27 |
| Latest annual filing | 10-K · 2026-02-11 | 10-K · 2026-08-04 |
APH vs STX: audited financials
- Scale: APH's $23.1B of revenue is about 2.5× STX's $9.1B.
- Net margin: APH kept 18.5% of revenue as net income versus 16.1% at STX.
- Cash conversion: operating cash flow equalled APH 23.3% of revenue, or 1.26× net income; STX 11.9% of revenue, or 0.74× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 6 months apart (2025-12-31 for APH, 2025-06-27 for STX), so each figure reflects somewhat different demand and cost conditions.
| Metric | APH | STX |
|---|---|---|
| Revenue | $23.1B2025-01-01 to 2025-12-31 · SEC filing | $9.1B2024-06-29 to 2025-06-27 · SEC filing |
| Net income | $4.3B2025-01-01 to 2025-12-31 · SEC filing | $1.5B2024-06-29 to 2025-06-27 · SEC filing |
| Operating cash flow | $5.4B2025-01-01 to 2025-12-31 · SEC filing | $1.1B2024-06-29 to 2025-06-27 · SEC filing |
| Diluted EPS | $3.342025-01-01 to 2025-12-31 · SEC filing | $6.772024-06-29 to 2025-06-27 · SEC filing |
| Net margin | 18.5%2025-01-01 to 2025-12-31 · SEC filing | 16.1%2024-06-29 to 2025-06-27 · SEC filing |
APH: FY ending 2025-12-31 · STX: FY ending 2025-06-27. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where APH and STX overlap, and where they don't
Overlap
- Shared research theme: Tariffs & trade.
Differences
- Different SEC industries: APH files as Electronic Connectors; STX as Computer Storage Devices.
- Offset fiscal calendars: APH's year ends December 31 and STX's June 27, about 6 months apart.
- Scale: APH reported about 2.5× the annual revenue of STX.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Seagate Technology Holdings plc (STX)
Seagate manufactures high-capacity hard-disk drives and storage systems used primarily in cloud and enterprise data centers.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves APH
We have not yet published a company-specific driver list for APH. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-11.
What moves STX
We have not yet published a company-specific driver list for STX. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-04.
The investment question
You now know APH reports about 2.5× STX's revenue, and APH keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to tariffs & trade, and which evidence in the next filings would prove that assumption wrong.
Members-only research
Members-only research on APH and STX
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The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. APH's fiscal year ends December 31, while STX's ends June 27. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 10 matched transaction rows for APH and 11 matched transaction rows for STX. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
APH primary filings
STX primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
APH vs STX FAQs
Are APH and STX direct competitors?
Not necessarily. Amphenol files as Electronic Connectors and Seagate Technology as Computer Storage Devices. The pair is compared because both map to the Tariffs & trade research theme, not because the filings show head-to-head competition.
Is APH or STX the bigger company by revenue?
Amphenol (APH) is the larger business by reported revenue: $23.1B in its fiscal year ended Dec 2025, about 2.5× STX's $9.1B (fiscal year ended Jun 2025). APH's net margin was 18.5% and STX's 16.1%. The SEC classifies them differently (Electronic Connectors; Computer Storage Devices); what connects them is shared exposure to the Tariffs & trade research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, APH or STX?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this APH vs STX comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Amphenol Corporation and Seagate Technology Holdings plc tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
APH vs STX compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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