APH vs NNBR: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
APH is the larger of the two ($214.64B market cap): the incumbent the market prices for continued execution (26.47x forward earnings, beta 1.24). NNBR is the smaller challenger ($372.44M), cheaper on forward earnings (22.93x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
APH vs NNBR: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | APH | NNBR | What it tells you |
|---|---|---|---|
| Market cap | $214.64B | $372.44M | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 26.47 | 22.93 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Beta | 1.24 | 2.62 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 93% of range | 92% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 13.85 | 11.19 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: NNBR is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how APH and NNBR affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. APH and NNBR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined APH and NNBR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Amphenol Corporation (APH) do?
Amphenol Corporation designs and manufactures electronic and fiber optic connectors, cable, and interconnect systems used across communications, information technology, automotive, industrial, aerospace, defense, mobile devices, and broadband markets. The business is organized into segments spanning harsh environment solutions, communications solutions, and interconnect and sensor systems, and it grows through a combination of organic design wins and a long, disciplined acquisition history. Its January 2026 completion of the roughly ~$10.5 billion purchase of CommScope's Connectivity and Cable Solutions business meaningfully expanded its fiber optic and IT datacom capabilities.
What does NN, Inc. (NNBR) do?
NN, Inc. is a Charlotte, North Carolina based manufacturer of high-precision components and assemblies, with about 27 facilities, roughly 2,550 employees and 700+ customers across four continents. It reports two segments. Power Solutions (about $62 million of Q2 2026 sales, up ~40% year over year) makes stamped, plated and precision-machined electrical contacts and connectors used in grid equipment, data centers, defense electronics and medical devices. Mobile Solutions (about $67 million, up ~5%) makes precision parts for automotive fuel, braking, steering and electrification systems.
APH vs NNBR: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- APH drivers: AI data center demand; Acquisition-led expansion.
- NNBR drivers: Data center and electrical demand; New business wins converting to revenue.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The most cited risk is valuation, with the stock trading at a premium price to earnings multiple that assumes continued strong growth. For NNBR, shareholders have absorbed heavy dilution in 2026, with two PIPEs and a preferred-for-common exchange adding tens of millions of shares, and further raises cannot be ruled out.
APH or NNBR: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick APH if you believe its drivers more; NNBR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the APH and NNBR guides.
APH vs NNBR: the full fundamentals
APH. As of July 2026 Amphenol had posted record Q1 2026 revenue of roughly ~$7.6 billion, with trailing twelve month revenue near ~$23 billion and EPS around ~$3.66. The premium P/E near ~44x reflects investor expectations for continued AI-driven growth and the added contribution from the CommScope CCS acquisition. These figures are approximate and reference the July 2026 reporting picture.
NNBR. NN trades at under one times sales and, adding about $150 million of net debt at June 30, 2026, at roughly 8x to 9x the midpoint of 2026 adjusted EBITDA guidance. That is a discount to larger precision-component peers, reflecting GAAP losses, leverage and the auto exposure in Mobile Solutions. Share counts are moving quickly: the October placement left 93.7 million common shares outstanding, and counting the 4.8 million pre-funded warrants pushes the economic total near 98.6 million, so per-share figures from older sources can be misleading. The removal of the preferred also means common holders no longer rank behind a $122 million senior equity claim, which changes how the equity value should be read against earlier years.
Headline figures (approximate, July 2026): APH shows revenue (ttm) ~$23 billion, net income (ttm) ~$4.3 billion, diluted eps (ttm) ~$3.66, q1 2026 revenue ~$7.6 billion; NNBR shows revenue (ttm) ~$456 million, adjusted ebitda (ttm) ~$57 million, 2026 guidance (sales / adj. ebitda) ~$470M to $490M / ~$58M to $68M, market cap ~$370 million (93.7 million shares at $3.95).
The bottom line: APH vs NNBR
APH and NNBR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined APH and NNBR exposure against your real portfolio. It is not an investment adviser.
Wondering how APH or NNBR fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Amphenol Corporation with AI
Connect the broker you already use and ask Walnut's AI how APH fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between APH and NNBR?
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Amphenol Corporation designs and manufactures electronic and fiber optic connectors, cable, and interconnect systems used across communications, information technology, automotive, industrial, aerospace, defense, mobile devices, and broadband markets. NN, Inc. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is APH or NNBR the better stock?
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Neither is universally better. APH is the larger incumbent; NNBR is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, APH or NNBR?
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On forward P/E (as of October 2026), APH trades at 26.47x and NNBR at 22.93x, so NNBR is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both APH and NNBR?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of APH vs NNBR?
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APH: The most cited risk is valuation, with the stock trading at a premium price to earnings multiple that assumes continued strong growth. A slowdown in AI-related data center capital spending would directly pressure the segment now driving results. Integration risk from large acquisitions like CommScope CCS, including goodwill and added debt, is another concern. Cyclical exposure to automotive, industrial, and mobile markets can create quarter to quarter volatility, and being a global manufacturer leaves it exposed to tariffs, supply chain disruption, and currency swings. Competition from large rivals could pressure pricing and share over time. NNBR: Shareholders have absorbed heavy dilution in 2026, with two PIPEs and a preferred-for-common exchange adding tens of millions of shares, and further raises cannot be ruled out. The company still reports GAAP losses (about $48 million of trailing net loss attributable to common, including preferred costs) and carries roughly $165 million of term-loan debt. Mobile Solutions remains tied to automotive production volumes and posted a GAAP operating loss in Q2 2026. Higher precious metals prices flatter reported sales through pass-through pricing, and the stock's beta of roughly 2.7 means large swings in both directions, as the 24% one-day move on October 2, 2026 showed. Customer concentration matters too: NN's top ten customers made up about 49% of 2025 net sales, and one Mobile Solutions customer alone accounted for 11% of revenue in the first half of 2026. Sales outside the US were 46% of the 2025 total, which brings currency and tariff exposure across Mexico, Brazil, Europe and China. Excluding its share of joint venture income, Mobile Solutions earned an adjusted operating margin of only about 3.8% in Q2 2026, so the auto side contributes little profit while still carrying much of the fixed plant base. NN has said the term loan refinancing will come later, and until then the company keeps paying a double-digit interest rate on most of its debt. Finally, the 4.8 million pre-funded warrants from the October placement can be exercised for $0.01 a share at any time, so the share count used in many quote services may lag the economic total.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell APH or NNBR; figures are approximate and dated (as of October 2026). Verify current data before investing.