It had $340 per share of capital invested into the business end of Q3, which returned $57/share in TTM NOPAT last quarter, producing a 16.8% return on investment—better than most investment managers.

Source: https://seekingalpha.com/article/4653791-te-connectivity-patience-rewarded-one-for-the-very-long-term-investor?source=feed_all_articles

This expectation seems overly pessimistic given that Advance Auto Parts has grown NOPAT by 9% compounded annually since 2016 and 6% compounded annually since 2011.

Source: https://www.forbes.com/sites/greatspeculations/2023/02/07/advance-auto-parts-cash-flow-increases-the-safety-of-its-dividend-yield/