TTM Technologies (TTMI) AI Stock Analysis

• Market Cap: $7.06B
• Dividend Yield: N/A
• Average Volume (3M): 2.40M
• Price to Earnings (P/E): 54.4
• Beta (1Y): 1.99
• Revenue Growth: 17.88%
• EPS Growth: 91.41%
• Country: US
• Employees: 16,400
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.67
• Shares Outstanding: 103,330,730
• 10 Day Avg. Volume: 2,481,286
• 30 Day Avg. Volume: 2,396,888
• PEG Ratio: -0.11
• Price to Book (P/B): 1.61
• Price to Sales (P/S): 1.03
• P/FCF Ratio: 49.14
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: 2.39
• Enterprise Value/Gross Profit: 11.84
• Enterprise Value/Ebitda: 19.03
• 1Y Price Target: $76.00
• Price Target Upside: 11.29% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 2.31
• Revenue Forecast (FY): $2.82B

• Rating: 78 Outperform
• Price Target: $80.00 ▲(17.15% Upside)

TTM Technologies' strong financial performance and positive earnings call are the most significant factors driving the stock's score. The technical analysis supports a bullish outlook, although the high P/E ratio suggests potential overvaluation. The absence of corporate events and dividend yield slightly tempers the overall score.

Positive Factors

Revenue Growth

The 22% YoY sales growth indicates strong demand in key markets, enhancing TTM's market position and supporting long-term revenue expansion.

Market Position in Aerospace and Defense

Dominance in aerospace and defense, with 45% sales contribution, strengthens TTM's competitive edge and ensures stable revenue from critical sectors.

Cash Flow Generation

Robust cash flow generation at 18.8% of sales enhances financial flexibility, enabling strategic investments and debt management.

Negative Factors

Automotive Sales Decline

Declining automotive sales due to inventory adjustments and soft demand could hinder growth in this sector, affecting diversification.

Margin Headwinds

Margin pressures from the Penang facility reduce profitability, potentially impacting financial performance if not addressed.

Debt Levels

While leverage has improved, maintaining low debt levels is crucial to avoid financial strain and ensure long-term stability.

TTM Technologies Business Overview & Revenue Model

Company Description

TTM Technologies, Inc., together with its subsidiaries, engages in the manufacture and sale of printed circuit boards (PCBs) worldwide. The company operates in two segments, PCB and RF&S Components. It offers PCB products, radio frequency (RF) components, conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks. The company also produces printed circuits with heavy copper cores, as well as embedded and press-fit coins; PCBs with electrically passive heat sinks; and PCBs with electrically active thermal cores. In addition, it offers value-added services, including RF design to specification capability, design for manufacturability, PCB layout design, simulation and testing, and quick turnaround services. The company serves original equipment manufacturers and electronic manufacturing services companies that primarily serve aerospace and defense, data center computing, automotive components, medical, industrial, and instrumentation related products sectors. TTM Technologies, Inc. was incorporated in 1978 and is headquartered in Santa Ana, California.

How the Company Makes Money

TTM Technologies generates revenue primarily through the manufacturing and sale of printed circuit boards and RF components. Its revenue model is based on direct sales to original equipment manufacturers (OEMs) and contract manufacturers, which often involve long-term contracts and partnerships. Key revenue streams include high-tech PCBs for complex applications in sectors such as telecommunications and aerospace, as well as RF components that are critical for wireless communications. The company also benefits from economies of scale due to its large manufacturing capabilities and strategic relationships with key customers, allowing it to secure repeat business and maintain a competitive edge in pricing and technology advancements.

TTM Technologies Financial Statement Overview

Summary

TTM Technologies demonstrates strong financial health with impressive revenue growth and profitability improvements. The significant reduction in leverage and robust cash flow generation further strengthen the company's financial position. Continued focus on operational efficiency and cash flow management will be key to sustaining this positive trajectory.

Income Statement

TTM Technologies shows a strong revenue growth rate of 5.15% in the TTM period, indicating positive momentum. The gross profit margin of 19.95% and net profit margin of 4.74% reflect solid profitability, with improvements over previous periods. The EBIT and EBITDA margins also demonstrate healthy operational efficiency, suggesting effective cost management.

Balance Sheet

The company's debt-to-equity ratio has significantly improved to 0.052 in the TTM period, indicating a strong reduction in leverage. Return on equity has increased to 8.13%, showcasing enhanced profitability for shareholders. The equity ratio remains stable, reflecting a solid capital structure.

Cash Flow

Free cash flow growth of 102.96% in the TTM period highlights robust cash generation capabilities. The operating cash flow to net income ratio of 0.263 indicates efficient conversion of earnings into cash, though slightly lower than previous periods. The free cash flow to net income ratio suggests room for improvement in translating profits into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.78B	2.44B	2.23B	2.50B	2.25B	2.11B
Gross Profit	562.36M	477.38M	413.27M	457.96M	372.01M	359.02M
EBITDA	350.07M	281.59M	209.15M	362.29M	242.86M	193.01M
Net Income	131.93M	56.30M	-18.72M	94.58M	54.41M	177.53M
Balance Sheet
Total Assets	3.72B	3.47B	3.32B	3.32B	3.03B	2.90B
Cash, Cash Equivalents and Short-Term Investments	491.12M	503.93M	450.21M	402.75M	537.68M	451.56M
Total Debt	1.03B	1.02B	1.02B	962.60M	964.45M	868.21M
Total Liabilities	2.02B	1.91B	1.81B	1.79B	1.57B	1.45B
Stockholders Equity	1.70B	1.56B	1.51B	1.54B	1.46B	1.44B
Cash Flow
Free Cash Flow	35.80M	51.16M	27.04M	169.99M	94.68M	183.89M
Operating Cash Flow	315.01M	236.89M	187.28M	272.87M	176.63M	287.18M
Investing Cash Flow	-275.45M	-146.21M	-92.03M	-395.46M	-84.14M	404.29M
Financing Cash Flow	-17.82M	-36.82M	-47.67M	-11.31M	-7.23M	-642.31M

TTM Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 68.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTMI, the sentiment is Positive. The current price of 68.29 is above the 20-day moving average (MA) of 66.03, above the 50-day MA of 60.70, and above the 200-day MA of 39.99, indicating a bullish trend. The MACD of 1.35 indicates Positive momentum. The RSI at 56.80 is Neutral, neither overbought nor oversold. The STOCH value of 80.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TTMI.

TTM Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SANM	78 Outperform	$8.49B	34.92	10.81%	―	7.40%	13.79%
TTMI	78 Outperform	$7.06B	54.43	8.12%	―	17.88%	91.41%
PLXS	75 Outperform	$3.85B	22.95	12.44%	―	1.82%	56.52%
OSIS	71 Outperform	$4.61B	30.78	17.58%	―	9.37%	15.70%
NOVT	65 Neutral	$4.04B	77.22	6.84%	―	4.07%	-12.34%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ST	59 Neutral	$4.62B	―	-0.92%	1.51%	-8.07%	63.50%

TTM Technologies Corporate Events

TTM Technologies Reports Strong Q3 Earnings and Growth

TTM Technologies’ recent earnings call conveyed a generally positive sentiment, underscored by strong sales growth and record highs in critical markets. Despite facing some challenges in the automotive sector and margin pressures from the Penang facility, the company showcased a solid financial performance, reflecting its resilience and strategic positioning in the industry.

TTM Technologies Reports Strong Q3 2025 Results

TTM Technologies, Inc. is a global leader in the manufacturing of advanced technology products, including mission systems, RF components, and printed circuit boards, serving various sectors such as aerospace, defense, and data center computing.

TTM Technologies Appoints Edwin Roks as New CEO

On August 14, 2025, TTM Technologies announced the appointment of Edwin Roks, Ph.D., as the new President and CEO, effective September 2, 2025, succeeding Thomas T. Edman. Dr. Roks, who has extensive experience in the aerospace, defense, and industrial electronics industries, will also join the company’s Board of Directors. This leadership transition is expected to guide TTM into its next phase of growth and innovation, with Mr. Edman continuing as an advisor to ensure a smooth transition. Additionally, the company amended the service-based vesting terms of performance-based restricted stock units for Mr. Edman in light of his retirement, allowing him to remain eligible for shares post-retirement.

The most recent analyst rating on (TTMI) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on TTM Technologies stock, see the TTMI Stock Forecast page.