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Side-by-side financial comparison of Amphenol (APH) and Vistra Corp. (VST). Click either name above to swap in a different company.
Amphenol is the larger business by last-quarter revenue ($6.4B vs $4.8B, roughly 1.3× Vistra Corp.). Amphenol runs the higher net margin — 18.6% vs 4.8%, a 13.7% gap on every dollar of revenue. On growth, Amphenol posted the faster year-over-year revenue change (49.1% vs 31.2%). Amphenol produced more free cash flow last quarter ($1.5B vs $596.0M). Over the past eight quarters, Amphenol's revenue compounded faster (40.6% CAGR vs 23.3%).
Amphenol Corporation is an American producer of electronic and fiber optic connectors, cable and interconnect systems such as coaxial cables. Amphenol is a portmanteau from the corporation's original name, American Phenolic Corp.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
APH vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.4B | $4.8B |
| Net Profit | $1.2B | $233.0M |
| Gross Margin | 38.2% | — |
| Operating Margin | 26.8% | 9.9% |
| Net Margin | 18.6% | 4.8% |
| Revenue YoY | 49.1% | 31.2% |
| Net Profit YoY | 60.2% | -47.2% |
| EPS (diluted) | $0.93 | $0.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $6.4B | $4.8B | ||
| Q3 25 | $6.2B | $4.8B | ||
| Q2 25 | $5.7B | $3.8B | ||
| Q1 25 | $4.8B | $4.3B | ||
| Q4 24 | $4.3B | $3.7B | ||
| Q3 24 | $4.0B | $4.3B | ||
| Q2 24 | $3.6B | $3.6B | ||
| Q1 24 | $3.3B | $3.2B |
| Q4 25 | $1.2B | $233.0M | ||
| Q3 25 | $1.2B | $652.0M | ||
| Q2 25 | $1.1B | $327.0M | ||
| Q1 25 | $737.8M | $-268.0M | ||
| Q4 24 | $746.1M | $441.0M | ||
| Q3 24 | $604.4M | $1.9B | ||
| Q2 24 | $524.8M | $365.0M | ||
| Q1 24 | $548.7M | $-35.0M |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 36.3% | — | ||
| Q1 25 | 34.2% | — | ||
| Q4 24 | 34.3% | — | ||
| Q3 24 | 33.6% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.4% | — |
| Q4 25 | 26.8% | 9.9% | ||
| Q3 25 | 27.5% | 21.7% | ||
| Q2 25 | 25.1% | 13.7% | ||
| Q1 25 | 21.3% | -2.8% | ||
| Q4 24 | 22.1% | 16.4% | ||
| Q3 24 | 20.3% | 59.6% | ||
| Q2 24 | 19.4% | 22.5% | ||
| Q1 24 | 21.0% | 2.7% |
| Q4 25 | 18.6% | 4.8% | ||
| Q3 25 | 20.1% | 13.6% | ||
| Q2 25 | 19.3% | 8.7% | ||
| Q1 25 | 15.3% | -6.3% | ||
| Q4 24 | 17.3% | 12.0% | ||
| Q3 24 | 15.0% | 43.5% | ||
| Q2 24 | 14.5% | 10.1% | ||
| Q1 24 | 16.9% | -1.1% |
| Q4 25 | $0.93 | $0.55 | ||
| Q3 25 | $0.97 | $1.75 | ||
| Q2 25 | $0.86 | $0.81 | ||
| Q1 25 | $0.58 | $-0.93 | ||
| Q4 24 | $0.16 | $1.09 | ||
| Q3 24 | $0.48 | $5.25 | ||
| Q2 24 | $0.41 | $0.90 | ||
| Q1 24 | $0.87 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.4B | $785.0M |
| Total DebtLower is stronger | $14.6B | $15.8B |
| Stockholders' EquityBook value | $13.4B | $5.1B |
| Total Assets | $36.2B | $41.5B |
| Debt / EquityLower = less leverage | 1.09× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4B | $785.0M | ||
| Q3 25 | $3.9B | $602.0M | ||
| Q2 25 | $3.2B | $458.0M | ||
| Q1 25 | $1.7B | $561.0M | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $1.6B | $905.0M | ||
| Q2 24 | $1.3B | $1.6B | ||
| Q1 24 | $2.0B | $1.1B |
| Q4 25 | $14.6B | $15.8B | ||
| Q3 25 | $7.1B | $15.8B | ||
| Q2 25 | $7.1B | $15.5B | ||
| Q1 25 | $6.8B | $15.4B | ||
| Q4 24 | $6.5B | $15.4B | ||
| Q3 24 | $5.1B | $13.9B | ||
| Q2 24 | $5.0B | $13.9B | ||
| Q1 24 | $3.6B | $14.7B |
| Q4 25 | $13.4B | $5.1B | ||
| Q3 25 | $12.5B | $5.2B | ||
| Q2 25 | $11.5B | $4.8B | ||
| Q1 25 | $10.3B | $4.8B | ||
| Q4 24 | $9.8B | $5.6B | ||
| Q3 24 | $9.5B | $5.4B | ||
| Q2 24 | $9.0B | $5.6B | ||
| Q1 24 | $8.7B | $5.7B |
| Q4 25 | $36.2B | $41.5B | ||
| Q3 25 | $27.1B | $38.0B | ||
| Q2 25 | $25.7B | $38.1B | ||
| Q1 25 | $22.9B | $38.2B | ||
| Q4 24 | $21.4B | $37.8B | ||
| Q3 24 | $19.6B | $37.9B | ||
| Q2 24 | $18.6B | $39.1B | ||
| Q1 24 | $16.7B | $38.2B |
| Q4 25 | 1.09× | 3.11× | ||
| Q3 25 | 0.57× | 3.02× | ||
| Q2 25 | 0.62× | 3.22× | ||
| Q1 25 | 0.66× | 3.20× | ||
| Q4 24 | 0.66× | 2.77× | ||
| Q3 24 | 0.54× | 2.56× | ||
| Q2 24 | 0.56× | 2.49× | ||
| Q1 24 | 0.41× | 2.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $1.4B |
| Free Cash FlowOCF − Capex | $1.5B | $596.0M |
| FCF MarginFCF / Revenue | 22.8% | 12.4% |
| Capex IntensityCapex / Revenue | 3.9% | 17.4% |
| Cash ConversionOCF / Net Profit | 1.44× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $4.4B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $1.4B | ||
| Q3 25 | $1.5B | $1.5B | ||
| Q2 25 | $1.4B | $572.0M | ||
| Q1 25 | $764.9M | $599.0M | ||
| Q4 24 | $847.1M | $1.4B | ||
| Q3 24 | $704.0M | $1.7B | ||
| Q2 24 | $664.1M | $1.2B | ||
| Q1 24 | $599.5M | $312.0M |
| Q4 25 | $1.5B | $596.0M | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.1B | $-118.0M | ||
| Q1 25 | $576.3M | $-169.0M | ||
| Q4 24 | $647.3M | $923.0M | ||
| Q3 24 | $474.0M | $1.0B | ||
| Q2 24 | $522.8M | $698.0M | ||
| Q1 24 | $505.2M | $-153.0M |
| Q4 25 | 22.8% | 12.4% | ||
| Q3 25 | 19.6% | 21.1% | ||
| Q2 25 | 19.8% | -3.1% | ||
| Q1 25 | 12.0% | -4.0% | ||
| Q4 24 | 15.0% | 25.2% | ||
| Q3 24 | 11.7% | 23.4% | ||
| Q2 24 | 14.5% | 19.4% | ||
| Q1 24 | 15.5% | -4.8% |
| Q4 25 | 3.9% | 17.4% | ||
| Q3 25 | 4.2% | 9.6% | ||
| Q2 25 | 5.3% | 18.4% | ||
| Q1 25 | 3.9% | 18.1% | ||
| Q4 24 | 4.6% | 11.7% | ||
| Q3 24 | 5.7% | 15.8% | ||
| Q2 24 | 3.9% | 13.8% | ||
| Q1 24 | 2.9% | 14.7% |
| Q4 25 | 1.44× | 6.15× | ||
| Q3 25 | 1.18× | 2.25× | ||
| Q2 25 | 1.30× | 1.75× | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 1.14× | 3.07× | ||
| Q3 24 | 1.16× | 0.90× | ||
| Q2 24 | 1.27× | 3.28× | ||
| Q1 24 | 1.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APH
| Communications Solutions Segment | $3.5B | 54% |
| Harsh Environment Solutions Segment | $1.7B | 26% |
| Sales Channel Through Intermediary | $1.4B | 21% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
