# TE Connectivity plc (TEL)

> Source: Nexqual · https://nexqual.com/TEL · data as of 2026-10-22 20:02 UTC · cite as "Nexqual, TE Connectivity plc (TEL), nexqual.com/TEL" · informational, not investment advice.

**Price:** USD 208.42 (-2.65% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 214.09 · day 205.45–211.47 · 52w 190.27–252.56 · market cap $60.3B · NYQ

## Key facts
- Last four reported quarters (through Jun 26, 2026): revenue $19.3B, net income $3.02B (15.6% margin), free cash flow $3.31B (SEC filings).
- Valuation: P/E 20.0x (avg 23.6x at the last 3 fiscal year-ends), EV/EBITDA 13.8x, net debt $4.39B.
- 7 of 80 tracked superinvestors hold TEL (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 2 new, 3 added, 2 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $6.1M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.26 on a 1–5 scale) (19 analysts), mean target USD 251.79 (range 215–306).
- Total return with dividends: 1Y -10.0% vs S&P 500 +14.9%; 5Y +52.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 3.07, revenue estimate $5.28B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $14.9B | $16.3B | $16.0B | $15.8B | $17.3B | $19.3B |
| Gross profit | $4.89B | $5.24B | $5.05B | $5.46B | $6.08B | — |
| Operating income | $2.43B | $2.76B | $2.30B | $2.80B | $3.21B | $3.81B |
| Net income | $2.26B | $2.43B | $1.91B | $3.19B | $1.84B | $3.02B |
| EPS (diluted) | $6.79 | $7.47 | $6.03 | $10.33 | $6.16 | — |
| Free cash flow | $1.99B | $1.70B | $2.40B | $2.80B | $3.20B | $3.31B |
| Gross margin | 32.7% | 32.2% | 31.5% | 34.4% | 35.2% | — |
| Operating margin | 16.3% | 16.9% | 14.4% | 17.6% | 18.6% | 19.7% |
| Net margin | 15.2% | 14.9% | 11.9% | 20.2% | 10.7% | 15.6% |
| Revenue growth | +22.6% | +9.1% | -1.5% | -1.2% | +8.9% | — |
| Cash + short-term investments | $1.20B | $1.09B | $1.66B | $1.32B | $1.25B | — |
| Total debt | $4.09B | $4.21B | $4.21B | $4.20B | $5.69B | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 26, 2026)
P/E 20.0x · P/S 3.1x · EV/EBITDA 13.8x · EV/Sales 3.4x · P/FCF 18.2x · P/B 4.6x · FCF yield 5.49% · Earnings yield 5.00% · Dividend yield (paid, TTM) 1.41% · Buyback yield (TTM) 2.96% · Net debt $4.39B · EV $64.7B
P/E at fiscal year-ends: Sep 2025 35.6x, Sep 2024 14.6x, Sep 2023 20.5x.

## Superinvestors (SEC 13F-HR, Q2 2026)
7 of 80 tracked investors hold TEL (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| First Pacific Advisors |  | 3.93% | $313M | Reduced -6.0% | Q2 2026 |
| Harry Burn | Sound Shore | 2.78% | $90.2M | New position | Q2 2026 |
| Dodge & Cox Funds | Dodge & Cox | 1.79% | $3.42B | Added +15.5% | Q2 2026 |
| David Katz | Matrix Asset Advisors | 1.56% | $19.0M | Added +18.4% | Q3 2026 |
| Richard Pzena | Pzena Investment Management | 0.33% | $112M | Reduced -8.0% | Q2 2026 |
| First Eagle Investment | First Eagle Investment Management | 0.04% | $22.1M | Added +3.8% | Q2 2026 |
| Lee Ainslie | Maverick Capital | 0.01% | $776K | New position | Q2 2026 |

## Insider sales (SEC Form 4, open-market, last ~7 months)
3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-01 | Kroeger Shadrak W | Pres., Industrial Solutions | 9,400 | $2.0M | 26.6% | Yes (adopted November 14, 2025) | Too little history (no open-market trades in 2023) |
| 2026-05-06 | Kroeger Shadrak W | Pres., Industrial Solutions | 9,400 | $2.0M | 26.6% | Yes (adopted November 14, 2025) | Too little history (no open-market trades in 2023) |
| 2026-04-08 | Kroeger Shadrak W | Pres., Industrial Solutions | 9,400 | $2.1M | 26.6% | Yes (adopted November 14, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.26 on a 1–5 scale), 19 analysts; mean target USD 251.79 (low 215, high 306).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | UBS | Target raised | Buy | $241 → $253 |
| 2026-10-06 | Goldman Sachs | Target raised | Buy | $284 → $288 |
| 2026-09-23 | Bernstein | Initiated | Outperform | $243 |
| 2026-09-11 | Wells Fargo | Target raised | Equal-Weight | $209 → $220 |
| 2026-07-23 | Baird | Target lowered | Outperform | $240 → $225 |
| 2026-07-23 | Wells Fargo | Target lowered | Equal-Weight | $230 → $209 |
| 2026-07-13 | Citigroup | Target lowered | Buy | $250 → $230 |
| 2026-06-25 | Wells Fargo | Target raised | Equal-Weight | $226 → $230 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -10.0% | +52.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -10.0% | +8.8% |
| Volatility (annualized) | 35.7% | 28.4% |
| Max drawdown | -21.1% (Nov 2025→Mar 2026) | -34.1% (Nov 2021→Oct 2022) |

## Peers (Electronic Components)
GLW (Corning Incorporated) USD 123.99 -8.10% · CLS (Celestica, Inc.) USD 269.01 -11.69% · FLEX (Flex Ltd.) USD 76.69 -11.08% · JBL (Jabil Inc.) USD 267.41 -4.83% · APH (Amphenol Corporation) USD 73.07 -7.74% · FN (Fabrinet) USD 317.67 -10.78%

## More
Full page: https://nexqual.com/TEL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TEL's own 10-K filed 2025-11-10 (https://www.sec.gov/Archives/edgar/data/1385157/000110465925109150/tel-20250926x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Amphenol (APH) | "The Transportation Solutions segment's major competitors include Yazaki, Aptiv, Sumitomo, Sensata, Honeywell, Molex, and Amphenol." |
| Competitor | Honeywell (HON) | "The Transportation Solutions segment's major competitors include Yazaki, Aptiv, Sumitomo, Sensata, Honeywell, Molex, and Amphenol." |

## Revenue by business segment (quarter ended 2026-06-26)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Transportation Solutions | $2.58B | 50.0% | +6.7% | $444.0M | 17.2% |
| Industrial Solutions | $2.58B | 50.0% | +21.9% | $537.0M | 20.8% |
| Total revenue | $5.16B | 100% | — | $981.0M | 19.0% |

## Revenue by region (quarter ended 2026-06-26)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Asia Pacific | $1.95B | 37.8% | +17.5% |
| EMEA | $1.65B | 32.0% | +6.9% |
| Americas | $1.56B | 30.2% | +17.2% |
| Total revenue | $5.16B | 100% | — |

## Company outlook (8-K filed 2026-07-22)

- "For the fourth quarter of fiscal 2026, the company expects sales of approximately $5.25 billion, an increase of 11% year over year on both a reported and organic basis."
- "Adjusted EPS is expected to be approximately $3.05, an increase of 18% year over year."
- "GAAP EPS from continuing operations is expected to be approximately $2.84, an increase of 27% year over year. ​ Information about TE Connectivity's use of non-GAAP financial measures is provided below."
- "The acquired company is expected to contribute annual sales of more than $250 million and will be reported as part of the Industrial Solutions segment."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.07 | $2.98 | +3.2% | $5.28B | 16 |
| Next quarter (ends 2026-12-31) | $2.99 | $2.93 | +2.3% | $5.12B | 10 |
| Current fiscal year (ends 2026-09-30) | $11.46 | $11.24 | +1.9% | $19.86B | 17 |
| Next fiscal year (ends 2027-09-30) | $12.97 | $12.62 | +2.8% | $21.75B | 16 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±9.9%; last 8 reports averaged ±6.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 43.5% | ±9.9% |
| 2026-12-18 | 56 | 37.9% | ±11.6% |
| 2027-01-15 | 84 | 34.4% | ±13.3% |
| 2027-02-19 | 119 | 35.0% | ±16.0% |
| 2027-04-16 | 175 | 34.1% | ±18.8% |
| 2027-05-21 | 210 | 35.2% | ±21.2% |
| 2027-08-20 | 301 | 34.4% | ±24.7% |
| 2027-11-19 | 392 | 34.0% | ±27.7% |