Direct Answer
3 SEC filers are classified under the Standard Industrial Classification code that describes the connectors industry, and their latest annual reports show $24.2 billion of combined revenue and a median operating margin of 2.2%. Investors should still evaluate its revenue model, industry-specific KPIs, valuation framework and the risks that can change the group's economics.
Industry Overview
Connector makers produce the physical interfaces and cables that link electronic components and systems in vehicles, data centers, industrial equipment and devices. Revenue follows end-market production and content per product. The first numbers to compare across companies here are organic sales growth, orders and backlog and gross margin.
Key Industry Metrics
- Organic sales growth: Sales growth excluding acquisitions and currency effects. It shows the underlying demand pace and separates real growth from deals and exchange-rate swings.
- Orders and backlog: New orders and those awaiting delivery. Connectors ship to build programs, so orders lead revenue and a rising backlog shows demand outpacing shipments.
- Gross margin: Revenue left after metals, plating, molding and labor. Copper and other metals feed through with a lag, so pricing and mix toward engineered products shape the margin.
- End-market mix: Sales divided among cars, industrial, data center and appliances. It shows which markets drive growth, and a heavy cars share ties results to vehicle production cycles.
- Content per vehicle or system: The dollar value of connectors in each car or system. Electrification and data speeds raise content, so sales can grow faster than the number of vehicles or devices produced.
Primary Macro Drivers
- Automotive and industrial production: Vehicles, factory equipment and machines each carry connectors, so higher production lifts organic sales and orders in line with those end markets.
- Data center buildouts: Servers and networking gear need many high-speed connectors per rack, so new data center capacity raises content per system and the data center share of orders.
- Electrification: Electric vehicles and power equipment use more and heavier connectors than older designs, raising content per vehicle or system and average selling prices.
- Copper and metal costs: Copper and other metals are a large part of product cost, so price moves change gross margin unless contracts let makers pass them through with a lag.
Major Risks
- Cyclical demand: End-market production swings drive connector orders, so a slowdown in autos or factories cuts volume quickly; watch orders, backlog and the end-market mix.
- Raw material costs: Metal and plastic input costs can rise faster than selling prices adjust, squeezing gross margin; watch pricing clauses and commentary on cost pass-through.
- Customer inventory swings: Distributors and manufacturers that stocked up pause buying, so sales can fall below true demand; watch distributor inventory and book-to-bill together.
- Competition: Many suppliers sell similar parts, and customers can dual-source, which pressures price and share; watch gross margin and content-per-system trends.
Industry Characteristics
| Characteristic | Profile |
|---|---|
| Cyclicality | Cyclical |
| Capital Intensity | Medium |
| Regulatory Intensity | Low |
| Industry Maturity | Mature |
| Geographic Importance | Global |
Connectors Filers in the SEC Record
3 companies with annual reports in the dataset are classified by the SEC in the Standard Industrial Classification code 3678. Their latest fiscal years end between 2025 and 2026, and together they reported $24.2 billion of revenue. Median revenue growth over the prior year was 24.3%. Median operating margin was 2.2% and median net margin 0.0%. Median total liabilities were 52% of total assets, and 2 of 3 reported a profit in their latest year.
| Company | Revenue | Growth | Operating margin | Net margin | Year |
|---|---|---|---|---|---|
| Amphenol Corp | $23.1 billion | 51.7% | 25.4% | 18.5% | FY 2025 |
| Methode Electronics Inc | $1.0 billion | -2.8% | 0.9% | -3.5% | FY 2026 |
| R F Industries Ltd | $81 million | 24.3% | 2.2% | 0.0% | FY 2025 |
Source: each company's own annual report as filed with the SEC (XBRL data), figures in U.S. dollars. A company's SIC code reflects its main business as the SEC records it, so it can differ from how an index provider or analyst classifies the company, and a diversified group appears under only one code.
Where to Go Next
The Connectors guide describes how the industry earns money, what to measure and what can go wrong. To see how it compares, read the neighbouring industries in the same sector, then apply the same checks to a specific company.
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Frequently Asked Questions
What are the main KPIs for the Connectors industry?
Key performance indicators for the Connectors industry include: Organic sales growth, Orders and backlog, Gross margin, End-market mix, Content per vehicle or system. Which matter most depends on the company's model, so compare them across several companies rather than relying on one.
How cyclical is the Connectors industry?
The Connectors industry is cyclical, meaning its revenues and earnings tend to expand during economic expansions and contract during downturns. Investors should monitor leading economic indicators and interest rate trends when evaluating timing.
What are the biggest risks in the Connectors industry?
The primary risks for Connectors companies include: Cyclical demand, Raw material costs, Customer inventory swings, Competition. Investors should assess each company's exposure to these factors and its track record of navigating them.