APH · 10-Q · 2026Q3 · Full report

Working Capital and Receivables

AMPHENOL CORP /DE/ · 2026-10-30 · Importance 53 · Surprise 64

Working-capital components increased $1,592.5 million in the first nine months of 2026, excluding acquisitions and currency translation, compared with a $435.2 million increase in 2025. The 2026 movement included accounts receivable growth of $2,234.7 million and inventory growth of $1,230.5 million, partly offset by increases of $1,556.6 million in accounts payable and $716.1 million in accrued liabilities, including income taxes. At September 30, accounts receivable had risen $3,064.9 million to $7,782.0 million and inventories had risen $1,839.6 million to $5,264.5 million, reflecting higher sales and the 2026 acquisitions. Days sales outstanding was 67 days, versus 66 days at December 31, 2025, while inventory days were 76 versus 77.

Key facts

• Working-capital components increased $1,592.5 in the first nine months of 2026, excluding acquisitions and foreign-currency translation, driven primarily by increases in receivables of $2,234.7, inventory of $1,230.5, and prepaid/current assets of $400.0, partly offset by accounts payable of $1,556.6 and accrued liabilities of $716.1. source
• Accounts receivable increased $3,064.9 to $7,782.0 at September 30, 2026, primarily due to higher third-quarter sales and the four 2026 acquisitions, partly offset by currency translation. source
• In the first nine months of 2025, working-capital components increased $435.2 excluding acquisitions and foreign-currency translation, primarily due to increases in receivables of $849.3, inventories of $424.3, and prepaid/current assets of $83.8, partially offset by accounts payable of $435.6 and accrued liabilities of $486.6. source
• Days sales outstanding was 67 days at September 30, 2026 and 66 days at December 31, 2025. source