TE Connectivity stock forecast
TE Connectivity's weighted value reaches $252.94 in October 2027 and $305.78 in October 2029. It hinges on data-center and grid orders, automotive content, Chinese design wins, inventory stability, and profitable conversion.
Where could TE Connectivity's shares be by 2029?
The forecast assigns 25% to the bear case, 55% to the base case, and 20% to the bull case. Data-center and grid orders, automotive content, Chinese design wins, inventory stability, and profitable conversion will drive the outcome. FY26 results on October 28, 2026, test the guidance and order visibility. Astrodyne’s expected closing by the end of calendar 2026 tests funding, integration, and profit contribution. Through FY29, restructuring savings must justify their charges and cash costs.
The forecast gives TE a probability-weighted value of $252.94 in October 2027, a 21% return including dividends from today’s $212.64. It rises to $280.39 in October 2028 and $305.78 in October 2029, equivalent to cumulative returns of 35% and 49%.
| Case | Probability | October 2027 | October 2028 | October 2029 |
|---|---|---|---|---|
| Bear | 25 % | 171.80 (-18 %) | 138.20 (-32 %) | 113.52 (-43 %) |
| Base | 55 % | 255.10 (+22 %) | 279.46 (+35 %) | 289.28 (+41 %) |
| Bull | 20 % | 348.41 (+65 %) | 460.71 (+120 %) | 591.47 (+184 %) |
| Weighted | 100 % | 252.94 (+21 %) | 280.39 (+35 %) | 305.78 (+49 %) |
What has to go right, and what could go wrong for TE Connectivity?
The bull case requires profitable shipments from data-center and grid demand, Chinese automotive wins to ramp, and Astrodyne to integrate successfully. Higher utilization expands margins, cash funds larger buybacks, and valuation rises to $348.41 in October 2027 and $591.47 in October 2029. Its 20% probability reflects the number of successes required and the absence of proven acquisition returns.
How much cash does TE Connectivity really make?
Free cash flow is operating cash flow after capital spending on factories and equipment. FY25 operating cash was $4.139 billion, while capital spending was $936 million. That produced calculated free cash flow of $3.203 billion.
A stricter view subtracts stock-based compensation because stock awards can dilute owners or lead to repurchases. On that basis, real free cash flow was $3.054 billion. TE’s own measure was slightly higher because it added back other items.
| Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 | |
|---|---|---|---|---|---|
| Cash from operations | 4,139 | 3,477 | 3,132 | 2,468 | 2,676 |
| − Capital spending | 936 | 680 | 732 | 768 | 690 |
| = Free cash flow | 3,203 | 2,797 | 2,400 | 1,700 | 1,986 |
| − Stock pay | 149 | 127 | 123 | 119 | 94 |
| = Real free cash flow | 3,054 | 2,670 | 2,277 | 1,581 | 1,892 |
What this means. The company's own free cash flow is higher because it leaves out some cash payments, such as voluntary pension contributions and special one-time payments, while we count them.
What does an investor pay today for TE Connectivity?
| Today (Oct 18, 2026) | |
|---|---|
| Share price | 212.64 |
| P/E, last 12 months (calculated) | 20.8x |
| P/E, next 12 months (calculated) | 16.3x |
| Free cash flow yield (calculated) | 5.2% |
| Real free cash flow yield (calculated) | 5.0% |
What this means. Enterprise value is higher than market value because it includes the company's debt after subtracting its cash and short-term investments.