---
title: "Electronic Equipment, Instruments"
description: "49 SEC filers are classified under the Standard Industrial Classification codes that describe the electronic equipment, instruments & components industry."
canonical: https://www.getswoopr.com/stocks/industries/information-technology/electronic-equipment-instruments-and-components/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Electronic Equipment, Instruments & Components Industry

## Direct Answer

49 SEC filers are classified under the Standard Industrial Classification codes that describe the electronic equipment, instruments & components industry, and their latest annual reports show $213.0 billion of combined revenue and a median operating margin of 6.0%. Investors should still evaluate its revenue model, industry-specific KPIs, valuation framework and the risks that can change the group's economics.

## Industry Overview

This group includes companies that make electronic equipment, instruments and components for industrial, communications, automotive and consumer markets. Results follow industrial production, technology spending and inventory cycles. The first numbers to compare across companies here are revenue and orders, gross margin and backlog.

## Key Industry Metrics

- **Revenue and orders**: Sales and new orders received. Orders lead shipments and show demand direction, and divergence between them signals whether the cycle is strengthening or weakening.
- **Gross margin**: Revenue left after the cost of producing equipment and parts. Mix of instruments and components, pricing and factory use all shape it across a diverse group.
- **Backlog**: Contracted work waiting to be delivered. It gives visibility for quarters ahead, though shorter-cycle parts convert quickly and show less backlog than systems.
- **End-market mix**: Sales divided among industrial, communications, automotive and consumer markets. It shows which cycles drive results, and diversified mix can smooth swings.
- **Inventory**: Parts and goods held by the company. Rising stock without sales growth can signal weak demand or overbuilding, which often leads to discounting or write-downs.

## Primary Macro Drivers

- **Industrial and technology capex**: Companies investing in plants, networks and automation buy equipment, so capital budgets set orders and backlog.
- **Electronics production**: Higher output of devices and vehicles drives demand for the parts and instruments used to build and test them.
- **Product cycles**: New product generations require updated gear and components, creating replacement waves and mix shifts that appear in orders and gross margin.
- **Component costs**: Prices for parts and materials set gross margin, with pass-through lags causing quarterly swings.

## Major Risks

- **Cyclicality**: Orders follow industrial and technology capital budgets, so downturns reduce revenue and backlog quickly; watch orders and book-to-bill.
- **Competition**: Rivals and low-cost suppliers push pricing in commoditized lines, narrowing gross margin; watch gross margin and share commentary.
- **Customer concentration**: A few large buyers take much of the sales, so one program decision changes results; watch top-customer share and backlog.
- **Supply chain**: Shortages or disruptions can delay shipments and raise costs, so margins and delivery slip; watch inventory, lead times and sourcing comments.

## Industry Characteristics

| Characteristic | Profile |
| --- | --- |
| Cyclicality | Cyclical |
| Capital Intensity | Medium |
| Regulatory Intensity | Low |
| Industry Maturity | Mature |
| Geographic Importance | Global |

## Electronic Equipment, Instruments & Components Filers in the SEC Record

49 companies with annual reports in the dataset are classified by the SEC in the Standard Industrial Classification codes 3670, 3672, 3678, 3679, 3823, 3825, 3829. Their latest fiscal years end between 2025 and 2026, and together they reported $213.0 billion of revenue. Median revenue growth over the prior year was 3.9%. Median operating margin was 6.0% and median net margin 2.7%. Median total liabilities were 40% of total assets, and 31 of 49 reported a profit in their latest year.

| Company | Revenue | Growth | Operating margin | Net margin | Year |
| --- | --- | --- | --- | --- | --- |
| [Thermo Fisher Scientific Inc.](https://www.getswoopr.com/stocks/companies/thermo-fisher-scientific/) | $44.6 billion | 3.9% | 17.4% | 15.1% | FY 2025 |
| [Jabil Inc](https://www.getswoopr.com/stocks/companies/jabil/) | $29.8 billion | 3.2% | 4.0% | 2.2% | FY 2025 |
| [Flex Ltd.](https://www.getswoopr.com/stocks/companies/flex-ltd/) | $27.9 billion | 8.1% | 4.9% | 3.2% | FY 2026 |
| [Amphenol Corp](https://www.getswoopr.com/stocks/companies/amphenol/) | $23.1 billion | 51.7% | 25.4% | 18.5% | FY 2025 |
| [Vertiv Holdings Co](https://www.getswoopr.com/stocks/companies/vertiv/) | $10.2 billion | 27.7% | 17.9% | 13.0% | FY 2025 |
| [Rockwell Automation, Inc](https://www.getswoopr.com/stocks/companies/rockwell-automation/) | $8.3 billion | 0.9% | 20.4% | 10.4% | FY 2025 |
| [Sanmina Corp](https://www.getswoopr.com/stocks/companies/sanmina-corporation/) | $8.1 billion | 7.4% | 4.4% | 3.0% | FY 2025 |
| [Roper Technologies Inc](https://www.getswoopr.com/stocks/companies/roper-technologies/) | $7.9 billion | 12.3% | 28.3% | 19.4% | FY 2025 |

The 8 largest of 49 by revenue. 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 Electronic Equipment, Instruments & Components 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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### Put it to work

- [How to analyze a stock](https://www.getswoopr.com/stocks/how-to-analyze-a-stock/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)
- [Company research](https://www.getswoopr.com/stocks/companies/)
- [All industries](https://www.getswoopr.com/stocks/industries/)

## Frequently Asked Questions

What are the main KPIs for the Electronic Equipment, Instruments & Components industry?

Key performance indicators for the Electronic Equipment, Instruments & Components industry include: Revenue and orders, Gross margin, Backlog, End-market mix, Inventory. Which matter most depends on the company's model, so compare them across several companies rather than relying on one.

How cyclical is the Electronic Equipment, Instruments & Components industry?

The Electronic Equipment, Instruments & Components 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 Electronic Equipment, Instruments & Components industry?

The primary risks for Electronic Equipment, Instruments & Components companies include: Cyclicality, Competition, Customer concentration, Supply chain. Investors should assess each company's exposure to these factors and its track record of navigating them.

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).