TDK vs TE Connectivity: Revenue, Profit and Business Model
TDK had ~$16.8B of annual revenue in FY2026 and ~$1.3B of net income. TE Connectivity had $17.3B of annual revenue in FY2025 and $1.8B of net income.
Latest financial snapshot
TDK
- Latest annual revenue
- ~$16.8B (FY2026)
- Net income
- ~$1.3B
- Net margin
- 7.8%
- Revenue growth
- +7.1% a year, FY2022–FY2026
TE Connectivity
- Latest annual revenue
- $17.3B (FY2025)
- Net income
- $1.8B
- Net margin
- 10.7%
- Revenue growth
- +4.8% a year, FY2016–FY2025
Financial summary
TDK
TDK reported record FY March 2026 results: net sales of ~$16.8 billion (¥2,504.8 billion), up 13.6%; operating profit of ~$1.83 billion (¥272.4 billion), up 21.5%, for a 10.9% margin; and net profit attributable to owners of ~$1.31 billion (¥195.7 billion). Growth came from small batteries and sensors for ICT devices and from HDD heads and suspensions, while automotive passive components weakened with slow BEV sales. For FY March 2027 TDK initially guided to net sales of ~$17.3 billion (¥2,580 billion), operating profit of ~$1.98 billion (¥295 billion) and net profit of ~$1.51 billion (¥225 billion). The year started strongly: first-quarter net sales rose 38.3% to ~$4.96 billion (¥741.0 billion) and operating profit rose 53.0% to ~$578 million (¥86.3 billion), both first-quarter records, driven by AI data center demand.
TE Connectivity
TE Connectivity reported FY2025 (year ended September 26, 2025) net sales of $17.262 billion, up 8.9% from $15.845 billion, and net income of $1.842 billion. Fiscal 2026 has been stronger: Q3 FY2026 (ended June 26, 2026) sales were a record $5.16 billion, up 14% reported and 12% organically, adjusted EPS rose 22% to $2.94, adjusted operating margin reached 22%, and orders hit a record $5.7 billion. Year-to-date free cash flow was $2.2 billion and TE returned $2.0 billion to shareholders. Guidance for Q4 FY2026 called for about $5.25 billion in sales and adjusted EPS of about $3.05.
Revenue and profit by year
TDK
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$16.8B | ~$1.3B | 7.8% | +13.6% | Source |
| FY2025 | ~$14.8B | ~$1.1B | 7.6% | +4.8% | Source |
| FY2024 | ~$14.1B | ~$835.4M | 5.9% | -3.5% | Source |
| FY2023 | ~$14.6B | ~$765.1M | 5.2% | +14.7% | Source |
| FY2022 | ~$12.7B | ~$879.7M | 6.9% | — | Source |
TE Connectivity
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $17.3B | $1.8B | 10.7% | +8.9% | Source |
| FY2024 | $15.8B | $3.2B | 20.2% | -1.2% | Source |
| FY2023 | $16B | $1.9B | 11.9% | -1.5% | Source |
| FY2022 | $16.3B | $2.4B | 14.9% | +9.1% | Source |
| FY2021 | $14.9B | $2.3B | 15.2% | +22.6% | Source |
| FY2020 | $12.2B | -$241M | -2.0% | -9.5% | Source |
| FY2019 | $13.4B | $1.8B | 13.7% | -3.9% | Source |
| FY2018 | $14B | $2.6B | 18.3% | +14.8% | Source |
| FY2017 | $12.2B | $1.7B | 13.8% | +7.3% | Source |
| FY2016 | $11.4B | $2B | 17.7% | — | Source |
Where the revenue comes from
TDK
- Energy Application Products~55%
Small-capacity lithium-ion polymer batteries from ATL for smartphones, laptops, tablets and wearables, plus TDK-Lambda power supplies. About $9.18 billion (¥1.37 trillion) of FY2026 net sales.
- Passive Components~20%
Ceramic, aluminum electrolytic and film capacitors, inductors, high-frequency and piezo components sold under the TDK and EPCOS brands, with automotive and industrial as major markets.
- Sensor Application Products~10%
MEMS motion sensors and microphones (InvenSense), Hall-effect sensors (Micronas) and TMR magnetic sensors for phones, cars and industrial equipment.
- Magnetic Application Products~10%
HDD heads and suspension assemblies, driven by nearline drives for data centers. About $1.76 billion (¥262.9 billion) of FY2026 net sales.
TE Connectivity
- Transportation Solutions~54%
Automotive, commercial transportation and sensor products (FY2025).
- Industrial Solutions~46%
Automation, aerospace and defense, energy, digital data networks and medical products (FY2025).
Business model and strategy
TDK
How it makes money
TDK sells components to device and equipment makers rather than to consumers. It reports four segments. Energy Application Products, the largest at about 55% of FY2026 net sales, combines ATL's small-capacity lithium-ion polymer batteries for smartphones, tablets, laptops and wearables with power supplies for industrial and ICT equipment.
Growth strategy
Under its medium-term plan, TDK is steering growth toward three themes it calls DX, EX and AI-related demand: components and sensors for AI servers and data centers, batteries and power supplies for devices and industrial equipment, and passive components and sensors for electrified vehicles and renewable energy.
Competitive advantage
TDK's advantage comes from materials know-how built since 1935 and from scale in a few niches where qualification takes years. ATL is one of the largest suppliers of small lithium-ion polymer cells, and phone makers rarely switch suppliers mid-cycle because of the safety testing involved.
TE Connectivity
How it makes money
TE Connectivity earns revenue by selling engineered connectors, sensors, relays, terminals, wire and cable assemblies to manufacturers that design them into long-lived products. Engineers co-design parts with automakers, industrial OEMs, data-center hardware makers, utilities and aerospace and medical customers; once a part is qualified for a platform, it tends to ship for the life of that program.
Growth strategy
TE's growth plan rests on three levers. First, content growth in vehicles: more high-voltage and high-speed data connectors per car than a combustion vehicle needs, which let Transportation grow 5% organically in Q3 FY2026 while end markets were softer. Second, AI and energy infrastructure in Industrial Solutions, where sales grew more than 20% in Q3 FY2026.
Competitive advantage
TE's advantage comes from being designed into customer platforms early, the cost and time of requalifying a replacement part, broad harsh-environment product range and a global manufacturing footprint close to automotive and industrial customers.
Questions about TDK vs TE Connectivity
Which company has higher revenue — TDK Corporation or TE Connectivity plc?
TDK Corporation had ~$16.8B (FY2026), while TE Connectivity plc had $17.3B (FY2025). By latest annual revenue, TE Connectivity plc is the larger business, with TDK Corporation showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of TDK Corporation vs TE Connectivity plc?
TDK Corporation's market capitalisation stands at $35.9B, while TE Connectivity plc's is $61.2B. TE Connectivity plc carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to TDK Corporation.
How does revenue per employee compare for TDK Corporation and TE Connectivity plc?
TDK Corporation has $158k / employee in revenue per employee, while TE Connectivity plc has $192k / employee. Headcounts may use different dates, so the ratio alone does not establish which business operates more efficiently.
How do TDK Corporation and TE Connectivity plc make money?
TDK Corporation and TE Connectivity plc generate revenue in fundamentally different ways. TDK Corporation: TDK sells components to device and equipment makers rather than to consumers. TE Connectivity plc: TE Connectivity earns revenue by selling engineered connectors, sensors, relays, terminals, wire and cable assemblies to manufacturers that design them into long-lived products.
Which company is valued higher relative to revenue — TDK Corporation or TE Connectivity plc?
On a price-to-sales (P/S) basis, TDK Corporation trades at 2.1x P/S and TE Connectivity plc at 3.5x P/S. TE Connectivity plc commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to TDK Corporation. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is TDK Corporation bigger than TE Connectivity plc?
By last reported revenue, TE Connectivity plc ($17.3B (FY2025)) is the larger company compared to TDK Corporation (~$16.8B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the TDK vs TE Connectivity overview