Each year, Bishop & Associates prepares the Connector Industry Yearbook based on annual reports provided by
publicly traded connector companies. Income statements and balance sheets are consolidated for the past 10
years, five years, and most current year, providing benchmarks on the industry and the overall performance of
the public connector companies.
In addition, the report provides a review of the connector industry for the period 2013-2023 for sales by region,
end-use equipment sector and our current forecast for 2024 and 2029 by region and end-use equipment sector.
This report features:
Consolidated history of the public companies including:
- Key Financial Measurements (2013-2023)
- Balance Sheet $ (2013-2023)
- Income Statement $ (2013-2023)
- Balance Sheet percent (2013-2023)
- Income Statement percent (2013-2023)
Fifteen-year history of performance by company, with industry averages for the following financial measurements:
- Selling, General, & Administrative percent (2009-2023)
- Net Income percent (2009-2023)
- Return on Assets (2009-2023)
- Long Term Debt/Equity (2009-2023)
- Accounts Receivables Turnover (2009-2023)
- Inventory Turns (2009-2023)
- Cost of Goods Sold percent (2009-2023)
- COGS + SG&A percent (2009-2023)
- Current Ratio (2009-2023)
- Return on Equity (2009-2023)
- Liabilities to Equity (2009-2023)
- Average Collection Period (2009-2023)
- Days Inventory (2009-2023)
The following table provides Net Income as a percent of sales from 2013-2023 for public
companies included in the 2024 Connector Industry Yearbook.
Net Income
In 2023 the connector industry had an average net income of 10.7% of sales. 2018 was a significant year in the
United States because it was the year the Tax Cuts and Jobs Act was passed. This act reduced the federal
corporate income tax from 35% to 21%.
As a result of the worldwide economic downturn in 2009, the lowest net income as a percent of sales occurred
in 2009 at -12.6%. This was the first time that net income had been a negative number for the consolidated
public companies. Between 2014 and 2018, net income increased from 10.7% of sales in 2014 to 12.0% of sales
in 2018. Between 2019 and 2023, net income increased from 10.2% in 2019 to 10.7% in 2023.
The following chart provides a history of net income for the Connector Industry from 2009-2023.