Amphenol's 99% communications growth: 48 points came from deals

Amphenol's communications sales jumped 99%. Almost half the lift was bought.

Why it matters

The headline growth rate fits on a slide. The machinery beneath it takes more room: Amphenol's communications division added almost as much growth through acquisitions as through its existing business. That split matters when a record order number is offered as evidence of an AI infrastructure boom.

Mara Voss28 October 2026 at 16:38 UTCReading Time 2 minLast update: 28 October 2026

Conceptual connector scene for the organic and acquired growth split in Amphenol Communications Solutions.

Summary

Amphenol's Communications Solutions sales reached $6.583 billion in the third quarter, up 99% year on year. Its reconciliation assigns 51 percentage points to organic growth, 48 to acquisitions and one to currency; the rounded components need not add exactly.
The division supplied about 81% of the group's $4.035 billion sales increase. Amphenol booked $12.2 billion of group orders, but published no segment order split.

Two engines under one number

The 28 October earnings exhibit makes the growth arithmetic unusually legible. Communications Solutions sold $6.583 billion in the quarter, compared with $3.310 billion a year ago. Its 99% reported increase includes 51 percentage points of organic growth and 48 points from acquisitions. Currency contributed one point, with the usual rounding in the reconciliation. The existing business is growing fiercely. The purchase ledger is working nearly as hard.

That division accounted for about $3.274 billion of the group's $4.035 billion year-on-year revenue increase. Its weight in quarterly group sales has moved from roughly 53% to 64%. The corporate headline of 65% sales growth therefore rests heavily on a communications operation that now combines unusually strong demand with a much larger acquired perimeter. At group level, the same filing assigns 37 points of the 65% growth to organic sales and 28 to acquisitions, with currency rounded to zero.

Management calls out exceptional organic growth in IT datacom. It does not put a separate dollar figure on that market in this release. The acquired business's expected full-year sales have been raised to $5.1 billion from $4.6 billion, showing how much acquired scale is feeding the consolidated story. Those are acquired-business forecasts, not a measure of organic data-centre demand.

Then comes the enticing number: $12.2 billion of quarterly orders, or 1.19 times sales. The release gives that book-to-bill ratio for the company, without a segment order table or a legacy-versus-acquired order split. It shows a strong group intake. It cannot tell a buyer of the growth story how much of that intake belongs to the existing IT datacom franchise, or whether the acquisition-heavy communications division is carrying the same mix of orders as sales.