TEL
TE Connectivity Ltd.Income statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $14.92B | $16.28B | $16.03B | $15.85B | $17.09B | $19.59B | $21.21B | $22.54B | $23.85B |
| Cost of revenue | $10.19B | $11.15B | $11.06B | $10.39B | $11.18B | $12.69B | $13.86B | $15.46B | $15.57B |
| Gross profit | $4.73B | $5.13B | $4.98B | $5.46B | $5.91B | $6.41B | $7.17B | $7.61B | $7.8B |
| Gross margin | +31.70% | +31.51% | +31.05% | +34.43% | +34.56% | +32.73% | +33.78% | +33.77% | +32.69% |
| Operating | |||||||||
| Research & development | $612M | $610M | $593M | $741M | $829M | $844.86M | $921.97M | $1B | $1.02B |
| Selling, general & administrative | $1.51B | $1.65B | $1.67B | $1.73B | $1.87B | $2.09B | $2.32B | $2.46B | $2.53B |
| Total operating expenses | $2.12B | $2.26B | $2.26B | $2.66B | $2.7B | $3.12B | $3.26B | $3.58B | $3.68B |
| Operating income | $2.61B | $2.87B | $2.72B | $2.8B | $3.21B | $3.44B | $3.89B | $3.91B | $4.21B |
| Operating margin | +17.50% | +17.60% | +16.94% | +17.65% | +18.79% | +17.58% | +18.32% | +17.36% | +17.64% |
| EBITDA | $3.2B | $3.58B | $3.14B | $3.69B | $4.12B | $4.46B | $4.83B | $5B | $5.19B |
| EBIT | $2.43B | $2.8B | $2.35B | $2.87B | $3.28B | $3.49B | $3.66B | $3.8B | $4.19B |
| Below the line | |||||||||
| Interest expense | $56M | $66M | $80M | $70M | $77M | $92.39M | $100.51M | $106.26M | $109.21M |
| Interest income | $17M | $15M | $60M | $87M | $83M | $91.02M | $97.22M | $102.91M | $110.14M |
| Other income / expense | -$234M | -$133M | -$448M | $1M | -$7M | — | — | — | — |
| Pre-tax income | $2.38B | $2.73B | $2.27B | $2.8B | $3.2B | $3.23B | $3.66B | $3.85B | $4.13B |
| Income tax expense | $123M | $306M | $364M | -$397M | $1.36B | $951.09M | $1.03B | $1.14B | $1.19B |
| Earnings | |||||||||
| Net income | $2.26B | $2.43B | $1.91B | $3.19B | $1.84B | $2.75B | $3.07B | $3.19B | $3.32B |
| Net income · continuing ops | $2.26B | $2.43B | $1.9B | $3.19B | $1.84B | $2.76B | $3B | $3.28B | $3.41B |
| Net margin | +15.15% | +14.91% | +11.91% | +20.15% | +10.78% | +14.07% | +14.48% | +14.16% | +13.92% |
| EPS · basic | $6.85 | $7.52 | $6.06 | $10.40 | $6.20 | $11.33 | $12.53 | $14.03 | $15.96 |
| EPS · diluted | $6.79 | $7.47 | $6.03 | $10.33 | $6.16 | $11.22 | $12.61 | $13.94 | $16.10 |
| EPS · low estimate | — | — | — | — | — | $10.99 | $12.17 | $13.51 | $15.86 |
| EPS · high estimate | — | — | — | — | — | $11.41 | $12.96 | $14.40 | $16.40 |
| Shares · basic | 330M | 323M | 315M | 307M | 297M | 297.14M | 294.39M | 298.67M | 296.57M |
| Shares · diluted | 333M | 325M | 317M | 309M | 299M | 301.14M | 298.37M | 297.36M | 301.22M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 12 | 12 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 9 | 10 | 4 | 1 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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