Financials TE Connectivity Ltd.

Equities

TEL

CH0102993182

Electrical Components & Equipment

Market Closed - Nyse Other stock markets 01:30:02 04/05/2024 am IST			5-day change	1st Jan Change
142 ^USD	+1.42%		+1.28%	+1.07%

29/04	TE Connectivity Insider Sold Shares Worth $996,656, According to a Recent SEC Filing	MT
29/04	BofA Securities Raises Price Target on TE Connectivity to $165 From $161	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	43,484	-	-
Enterprise Value (EV) ¹	34,169	35,363	48,385	39,113	41,331	45,977	45,436	44,982
P/E ratio	17.1 x	-125 x	20.5 x	15.1 x	20.6 x	12.6 x	17.2 x	15.4 x
Yield	1.94%	1.93%	1.41%	1.88%	1.86%	1.7%	1.77%	1.81%
Capitalization / Revenue	2.31 x	2.64 x	3.05 x	2.21 x	2.42 x	2.73 x	2.55 x	2.37 x
EV / Revenue	2.54 x	2.91 x	3.24 x	2.4 x	2.58 x	2.88 x	2.66 x	2.46 x
EV / EBITDA	11.5 x	14.5 x	13.9 x	10.4 x	11.9 x	12.3 x	11.4 x	10.7 x
EV / FCF	20.4 x	24.7 x	24.4 x	23 x	17.2 x	18 x	18.8 x	17.2 x
FCF Yield	4.9%	4.05%	4.1%	4.35%	5.81%	5.57%	5.32%	5.81%
Price to Book	2.94 x	3.43 x	4.5 x	3.31 x	3.34 x	3.44 x	3.17 x	2.81 x
Nbr of stocks (in thousands)	3,35,791	3,30,038	3,27,997	3,19,839	3,13,939	3,06,228	-	-
Reference price ²	92.71	97.45	138.7	112.5	123.5	142.0	142.0	142.0
Announcement Date	30/10/19	28/10/20	27/10/21	02/11/22	01/11/23	-	-	-

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	15,949	17,069	18,315
EBITDA ¹	2,970	2,445	3,470	3,751	3,471	3,748	4,001	4,192
EBIT ¹	2,280	1,734	2,701	2,966	2,677	2,961	3,237	3,523
Operating Margin	16.95%	14.25%	18.1%	18.22%	16.7%	18.56%	18.96%	19.23%
Earnings before Tax (EBT) ¹	1,931	524	2,378	2,733	2,268	2,847	3,179	3,420
Net income ¹	1,844	-259	2,255	2,427	1,910	3,498	2,512	2,722
Net margin	13.71%	-2.13%	15.11%	14.91%	11.91%	21.93%	14.72%	14.86%
EPS ²	5.420	-0.7800	6.770	7.470	6.010	11.23	8.252	9.245
Free Cash Flow ¹	1,673	1,432	1,986	1,700	2,400	2,560	2,416	2,612
FCF margin	12.44%	11.76%	13.31%	10.44%	14.97%	16.05%	14.16%	14.26%
FCF Conversion (EBITDA)	56.33%	58.57%	57.23%	45.32%	69.14%	68.29%	60.38%	62.32%
FCF Conversion (Net income)	90.73%	-	88.07%	70.05%	125.65%	73.18%	96.17%	95.97%
Dividend per Share ²	1.800	1.880	1.960	2.120	2.300	2.411	2.520	2.576
Announcement Date	30/10/19	28/10/20	27/10/21	02/11/22	01/11/23	-	-	-

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	4,017	4,132	4,042	4,209	4,263
EBITDA ¹	-	910	930	966	945	809	871	892	899	925	927	939.7	963	943.4	981.1	1,015
EBIT ¹	716	712	736	761	757	622	664	692	699	731	735	739.2	763	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%	18.4%	18.47%	18.58%	18.74%	19.07%
Earnings before Tax (EBT) ¹	-	677	696	708	652	485	525	624	634	699	687	702	764	-	-	-
Net income ¹	-	567	560	594	708	398	433	528	552	1,804	541	552.5	596.9	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%	13.75%	14.45%	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	1.755	1.920	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	28/10/20	26/01/22	27/04/22	27/07/22	02/11/22	25/01/23	26/04/23	26/07/23	01/11/23	24/01/24	24/04/24	-	-	-	-	-

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	2,493	1,951	1,498
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.023 x	1.309 x	0.8326 x	0.8312 x	0.7347 x	0.665 x	0.4876 x	0.3573 x
Free Cash Flow ¹	1,673	1,432	1,986	1,700	2,400	2,560	2,416	2,612
ROE (net income / shareholders' equity)	17.2%	14.3%	21.7%	22.2%	19.1%	19%	19.9%	20.1%
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	28,661	23,755	25,923
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	785	726
Capex / Sales	5.57%	4.6%	4.62%	4.72%	4.57%	4.4%	4.6%	3.97%
Announcement Date	30/10/19	28/10/20	27/10/21	02/11/22	01/11/23	-	-	-

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

142 USD

Average target price

162.4 USD

Spread / Average Target

+14.38%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Electrical Component

	1st Jan change	Capi.
TE CONNECTIVITY LTD.	+1.07%	43.48B
FUJIKURA LTD.	+156.29%	5.01B
XIAMEN FARATRONIC CO., LTD.	+6.37%	3.06B
FANGDA CARBON NEW MATERIAL CO.,LTD	-3.24%	2.79B
MPI CORPORATION	+86.90%	1.19B
BEIJING YUANLIU HONGYUAN ELECTRONIC TECHNOLOGY CO., LTD.	-32.07%	1.09B
TOYO TANSO CO., LTD.	+62.59%	1.07B
ACBEL POLYTECH INC.	-4.26%	1.05B
NINGBO SUNRISE ELC TECHNOLOGY CO.,LTD	-15.46%	906M
JIANGSU LETTALL ELECTRONIC CO.,LTD	-20.38%	891M

Electrical Component