APH · 10-Q · 2026Q2 · Full report
Operating Cash Flow and Capex
AMPHENOL CORP /DE/ · 2026-07-31 · Importance 73 · Surprise 66 · Contradicted
Operating cash flow increased to $2,678.7 million in the first six months of 2026 from $2,181.7 million in the comparable 2025 period. Capital expenditures were $647.1 million during the first six months of 2026, contributing to a $626.6 million increase in net property, plant and equipment to $2,932.2 million. Investing cash outflows increased to $11,703.6 million from $2,964.2 million, while financing cash inflows increased to $2,585.2 million from $612.3 million. Net cash decreased by $6,401.2 million in the first six months of 2026, compared with a $110.0 million decrease in 2025.
Key facts
- Net cash used in investing activities was $(11,703.6) for the six months ended June 30, 2026 compared to $(2,964.2) for the six months ended June 30, 2025. source
- Net cash provided by operating activities was $2,678.7 for the six months ended June 30, 2026 compared to $2,181.7 for the six months ended June 30, 2025. source
- Free Cash Flow (non-GAAP) for the six months ended June 30, 2026: $2,036.7 source
- Net cash used in investing activities in the first six months of 2025 was $2,964.2, driven by the use of $2,483.2 to fund acquisitions and capital expenditures (net of disposals) of $480.0 source
- Property, plant and equipment, net increased $626.6 to $2,932.2 primarily due to capital expenditures of $647.1 and the impact of the 2026 Acquisitions, partially offset by depreciation of $413.0 and translation. source
- Operating Cash Flow increase to $2,678.7 in the first six months of 2026 was primarily due to the increase in net income and the non-cash addback of depreciation and amortization, partially offset by higher usage of cash related to the change in working capital. source
- Operating Cash Flow (GAAP) for the six months ended June 30, 2026: $2,678.7 source
- Net cash used in investing activities was $11,703.6 in the first six months of 2026 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -19.5% | Net cash used in investing activities was $(11,703.6) for the six months ended June 30, 2026 compared to $(2,964.2) for the six months… |
| cash | positive | realized | +6.0% | Operating Cash Flow increase to $2,678.7 in the first six months of 2026 was primarily due to the increase in net income and the non-cash… |
| operating_income | negative | realized | -4.7% | Property, plant and equipment, net increased $626.6 to $2,932.2 primarily due to capital expenditures of $647.1 and the impact of the 2026… |
| cash | positive | realized | +4.5% | Free Cash Flow (non-GAAP) for the six months ended June 30, 2026: $2,036.7 |
| cash | negative | realized | -1.4% | Property, plant and equipment, net increased $626.6 to $2,932.2 primarily due to capital expenditures of $647.1 and the impact of the 2026… |
| assets | positive | realized | +1.4% | Property, plant and equipment, net increased $626.6 to $2,932.2 primarily due to capital expenditures of $647.1 and the impact of the 2026… |
| cash | positive | realized | +1.1% | Net cash provided by operating activities was $2,678.7 for the six months ended June 30, 2026 compared to $2,181.7 for the six months… |