TE Connectivity (TEL) 10-K Summary — Year Ended Sep 27, 2024
The company designs and manufactures connectivity and sensor products for various industries. Its fiscal results showed a decline in revenue compared to the prior year, while operating income and net income remained positive.
Key takeaway
Year ended Sep 27, 2024 · FY2025 10-K
The company designs and manufactures connectivity and sensor products for various industries. Its fiscal results showed a decline in revenue compared to the prior year, while operating income and net income remained positive.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$15.8B
Revenue reported for the fiscal year.
Operating income
$2.8B
Income from operations reported for the year.
Net income
$3.2B
Net income reported for the year.
Operating cash flow
$3.5B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 24, 2021 | $14.9B | n/a |
| Sep 30, 2022 | $16.3B | +9.1% |
| Sep 29, 2023 | $16B | -1.5% |
| Sep 27, 2024 | $15.8B | -1.2% |
Business overview
TE Connectivity provides engineered electronic components, including connectors and sensors, for applications in transportation, industrial, and communications markets. The filing describes a business that serves customers across automotive, aerospace, data centers, and factory automation sectors. The company operates globally and manages its activities through distinct segments.
Financial performance
Revenue for the year decreased compared to the prior annual period. Operating income and net income both decreased from the previous year. Cash from operations remained strong, supporting ongoing investment and shareholder returns.
Material risks
The filing discusses risks from global military conflicts and geopolitical tensions, including associated sanctions. These factors did not materially affect the company's results in the recent periods. The company also faces risks from foreign currency exchange rate fluctuations and commodity price changes.
Liquidity and capital
The company expects to fund its operations and capital needs through cash from operations. An acquisition was completed early in the prior fiscal year using cash on hand.
What to watch
Monitor how the company transitions to its new segment structure starting in the next fiscal year and whether reported sales trends in the Industrial Solutions and Transportation Solutions segments align with its outlook.