Financials TE Connectivity Ltd.

Equities

TEL

CH0102993182

Electrical Components & Equipment

Market Closed - Nyse Other stock markets 04:00:55 2024-04-26 pm EDT			5-day change	1st Jan Change
140.2 ^USD	-0.19%		-0.24%	-0.21%

Apr. 25	JPMorgan Adjusts Price Target on TE Connectivity to $169 From $170	MT
Apr. 25	Baird Adjusts Price Target on TE Connectivity to $158 From $159	MT

Valuation

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	31,131	32,162	45,496	35,995	38,781	42,936	-	-
Enterprise Value (EV) ¹	34,169	35,363	48,385	39,113	41,331	45,397	44,818	44,340
P/E ratio	17.1 x	-125 x	20.5 x	15.1 x	20.6 x	12.5 x	17 x	15.2 x
Yield	1.94%	1.93%	1.41%	1.88%	1.86%	1.72%	1.8%	1.84%
Capitalization / Revenue	2.31 x	2.64 x	3.05 x	2.21 x	2.42 x	2.69 x	2.51 x	2.34 x
EV / Revenue	2.54 x	2.91 x	3.24 x	2.4 x	2.58 x	2.85 x	2.62 x	2.41 x
EV / EBITDA	11.5 x	14.5 x	13.9 x	10.4 x	11.9 x	12.1 x	11.3 x	10.7 x
EV / FCF	20.4 x	24.7 x	24.4 x	23 x	17.2 x	18 x	18.7 x	17.1 x
FCF Yield	4.9%	4.05%	4.1%	4.35%	5.81%	5.55%	5.35%	5.85%
Price to Book	2.94 x	3.43 x	4.5 x	3.31 x	3.34 x	3.4 x	3.13 x	2.77 x
Nbr of stocks (in thousands)	335,791	330,038	327,997	319,839	313,939	306,228	-	-
Reference price ²	92.71	97.45	138.7	112.5	123.5	140.2	140.2	140.2
Announcement Date	10/30/19	10/28/20	10/27/21	11/2/22	11/1/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	13,448	12,172	14,923	16,281	16,034	15,951	17,089	18,362
EBITDA ¹	2,970	2,445	3,470	3,751	3,471	3,746	3,957	4,136
EBIT ¹	2,280	1,734	2,701	2,966	2,677	2,952	3,237	3,528
Operating Margin	16.95%	14.25%	18.1%	18.22%	16.7%	18.5%	18.94%	19.21%
Earnings before Tax (EBT) ¹	1,931	524	2,378	2,733	2,268	2,838	3,181	3,419
Net income ¹	1,844	-259	2,255	2,427	1,910	3,505	2,525	2,740
Net margin	13.71%	-2.13%	15.11%	14.91%	11.91%	21.97%	14.78%	14.92%
EPS ²	5.420	-0.7800	6.770	7.470	6.010	11.26	8.255	9.205
Free Cash Flow ¹	1,673	1,432	1,986	1,700	2,400	2,521	2,400	2,596
FCF margin	12.44%	11.76%	13.31%	10.44%	14.97%	15.8%	14.04%	14.14%
FCF Conversion (EBITDA)	56.33%	58.57%	57.23%	45.32%	69.14%	67.29%	60.65%	62.76%
FCF Conversion (Net income)	90.73%	-	88.07%	70.05%	125.65%	71.93%	95.04%	94.74%
Dividend per Share ²	1.800	1.880	1.960	2.120	2.300	2.411	2.520	2.576
Announcement Date	10/30/19	10/28/20	10/27/21	11/2/22	11/1/23	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: September	2020 S2	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3
Net sales ¹	5,809	3,818	4,007	4,097	4,359	3,841	4,160	3,998	4,035	3,831	3,967	4,019	4,133	4,042	4,209	4,263
EBITDA ¹	-	910	930	966	945	809	871	892	899	925	927	941.2	964.4	943.4	981.1	1,015
EBIT ¹	716	712	736	761	757	622	664	692	699	731	735	738.4	762.4	750.7	788.9	812.8
Operating Margin	12.33%	18.65%	18.37%	18.57%	17.37%	16.19%	15.96%	17.31%	17.32%	19.08%	18.53%	18.37%	18.45%	18.58%	18.74%	19.07%
Earnings before Tax (EBT) ¹	-	677	696	708	652	485	525	624	634	699	687	706	777	-	-	-
Net income ¹	-	567	560	594	708	398	433	528	552	1,804	541	559.4	599.1	629.5	661.8	644.2
Net margin	-	14.85%	13.98%	14.5%	16.24%	10.36%	10.41%	13.21%	13.68%	47.09%	13.64%	13.92%	14.5%	15.57%	15.72%	15.11%
EPS ²	-	1.720	1.710	1.830	2.210	1.250	1.360	1.670	1.750	5.760	1.750	1.785	1.924	1.973	2.042	2.048
Dividend per Share ²	-	0.5000	0.5000	0.5600	0.5600	0.5600	0.5600	0.5900	0.5900	0.5900	-	0.6257	0.6257	0.5900	0.5900	-
Announcement Date	10/28/20	1/26/22	4/27/22	7/27/22	11/2/22	1/25/23	4/26/23	7/26/23	11/1/23	1/24/24	4/24/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: September	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	3,038	3,201	2,889	3,118	2,550	2,461	1,882	1,404
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.023 x	1.309 x	0.8326 x	0.8312 x	0.7347 x	0.657 x	0.4756 x	0.3395 x
Free Cash Flow ¹	1,673	1,432	1,986	1,700	2,400	2,521	2,400	2,596
ROE (net income / shareholders' equity)	17.2%	14.3%	21.7%	22.2%	19.1%	20%	19.3%	19.3%
ROA (Net income/ Total Assets)	9.2%	7.3%	10.7%	11.3%	10.1%	12.2%	10.6%	10.5%
Assets ¹	20,040	-3,546	21,159	21,530	18,990	28,719	23,875	26,094
Book Value Per Share ²	31.50	28.40	30.80	34.00	37.00	41.30	44.80	50.60
Cash Flow per Share ²	7.120	6.000	8.040	7.590	9.880	9.500	10.20	11.80
Capex ¹	749	560	690	768	732	701	787	707
Capex / Sales	5.57%	4.6%	4.62%	4.72%	4.57%	4.4%	4.61%	3.85%
Announcement Date	10/30/19	10/28/20	10/27/21	11/2/22	11/1/23	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for TE Connectivity Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

140.2 USD

Average target price

161.1 USD

Spread / Average Target

+14.87%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electrical Component

	1st Jan change	Capi.
TE CONNECTIVITY LTD.	-0.21%	42.96B
FUJIKURA LTD.	+148.96%	4.73B
XIAMEN FARATRONIC CO., LTD.	+1.47%	2.92B
FANGDA CARBON NEW MATERIAL CO.,LTD	-6.30%	2.7B
MPI CORPORATION	+84.83%	1.16B
ACBEL POLYTECH INC.	-3.89%	1.04B
BEIJING YUANLIU HONGYUAN ELECTRONIC TECHNOLOGY CO., LTD.	-34.98%	1.04B
TOYO TANSO CO., LTD.	+61.96%	1.03B
NINGBO SUNRISE ELC TECHNOLOGY CO.,LTD	-16.00%	900M
JIANGSU LETTALL ELECTRONIC CO.,LTD	-21.49%	869M

Electrical Component