TTM Technologies (TTMI) AI Stock Analysis

• Market Cap: $7.24B
• Dividend Yield: N/A
• Average Volume (3M): 2.53M
• Price to Earnings (P/E): 54.3
• Beta (1Y): 1.91
• 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: 2,910,484
• 30 Day Avg. Volume: 2,525,790
• 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: 0.92
• Enterprise Value/Revenue: 3.12
• Enterprise Value/Gross Profit: 15.28
• Enterprise Value/Ebitda: 23.07
• 1Y Price Target: $71.25
• Price Target Upside: 4.61% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): 2.31
• Revenue Forecast (FY): $2.82B

• Rating: 71 Outperform
• Price Target: $70.00 ▲(2.77% Upside)

TTM Technologies' overall stock score is driven by strong financial performance and positive earnings call highlights, particularly in key growth markets. Technical analysis supports a bullish outlook, though caution is advised due to high valuation metrics and potential overbought conditions. The absence of a dividend yield and challenges in cash flow management slightly temper the overall positive outlook.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand in key markets, enhancing TTM's market position and supporting long-term business expansion.

Market Position in Aerospace and Defense

Dominant position in aerospace and defense provides a stable revenue base and growth opportunities, leveraging high barriers to entry in this sector.

Cash Flow from Operations

Strong cash flow from operations supports investment in growth initiatives and enhances financial flexibility, crucial for long-term sustainability.

Negative Factors

Decline in Automotive Sales

Declining automotive sales reflect challenges in this sector, potentially impacting diversification and revenue stability if trends persist.

Margin Headwinds

Operational inefficiencies at the Penang facility could pressure margins, affecting profitability if not addressed, highlighting the need for operational improvements.

Free Cash Flow Decline

Significant decline in free cash flow indicates potential cash management issues, which could limit investment capacity and financial health.

TTM Technologies Business Overview & Revenue Model

Company Description

TTM Technologies (TTMI) is a leading global provider of advanced technology solutions and manufacturing services, primarily in the printed circuit board (PCB) and electronic assembly sectors. The company serves a diverse range of end markets, including telecommunications, aerospace and defense, automotive, and medical devices. TTM offers a broad portfolio of products and services, including high-density interconnect (HDI) PCBs, radio frequency (RF) products, and custom electronic assemblies, supporting customers from design through to production.

How the Company Makes Money

TTM Technologies generates revenue through the manufacturing and sale of printed circuit boards and electronic assemblies. The company's primary revenue streams include direct sales to original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) providers. TTM also benefits from long-term partnerships with key players in various industries, which provide a steady demand for their products. Additionally, TTM's focus on high-value, technologically advanced products allows it to command premium pricing, thus enhancing its profitability. Factors contributing to its earnings include the increasing demand for advanced electronics in sectors such as automotive and telecommunications, as well as the company's investment in expanding its production capabilities and technological advancements.

TTM Technologies Financial Statement Overview

Summary

TTM Technologies demonstrates strong revenue growth and stable profitability, supported by a solid balance sheet with low leverage. However, cash flow management, particularly free cash flow, requires improvement to enhance overall financial health. The company is well-positioned in its industry, with opportunities to optimize margins and cash flow efficiency.

Income Statement

TTM Technologies shows a positive revenue growth rate of 4.98% TTM, indicating a healthy upward trajectory. The gross profit margin of 19.96% and net profit margin of 3.52% TTM reflect stable profitability, although there is room for improvement. The EBIT margin of 6.45% and EBITDA margin of 11.83% TTM suggest efficient operational management. Overall, the income statement reflects solid growth and profitability, with potential for further margin enhancement.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.65, indicating prudent financial leverage. The return on equity (ROE) of 5.88% TTM suggests moderate profitability relative to shareholder equity. The equity ratio of 45.77% TTM indicates a strong equity base, providing financial stability. The balance sheet shows a stable financial position with manageable debt levels, though there is potential to improve ROE.

Cash Flow

Operating cash flow is positive, but the free cash flow has declined significantly by 201.54% TTM, indicating potential cash management challenges. The operating cash flow to net income ratio of 0.22 TTM and negative free cash flow to net income ratio suggest inefficiencies in converting income to cash. While operating cash flow remains strong, the decline in free cash flow warrants attention to improve cash generation.

Breakdown	TTM	Dec 2024	Dec 2019	Dec 2018	Dec 2017	Dec 2016
Income Statement
Total Revenue	2.13B	2.44B	2.13B	2.85B	2.66B	2.53B
Gross Profit	435.82M	477.38M	377.18M	457.03M	429.58M	423.62M
EBITDA	288.76M	281.59M	336.28M	392.70M	368.14M	323.32M
Net Income	126.76M	56.30M	41.30M	173.58M	124.21M	34.86M
Balance Sheet
Total Assets	3.72B	3.47B	3.56B	3.46B	2.78B	2.50B
Cash, Cash Equivalents and Short-Term Investments	491.12M	503.93M	400.15M	256.36M	409.33M	256.28M
Total Debt	88.34M	1.02B	1.49B	1.49B	980.06M	1.02B
Total Liabilities	2.02B	1.91B	2.28B	2.23B	1.77B	1.67B
Stockholders Equity	1.70B	1.56B	1.28B	1.23B	1.01B	829.13M
Cash Flow
Free Cash Flow	5.78M	51.16M	169.36M	123.01M	181.41M	213.20M
Operating Cash Flow	228.95M	236.89M	311.94M	273.14M	332.75M	298.34M
Investing Cash Flow	-222.69M	-146.21M	-135.97M	-746.19M	-124.09M	-77.97M
Financing Cash Flow	-19.22M	-36.82M	-31.81M	321.06M	-58.98M	-217.11M

TTM Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 68.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• 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 68.11 is above the 20-day moving average (MA) of 61.20, above the 50-day MA of 56.04, and above the 200-day MA of 37.37, indicating a bullish trend. The MACD of 3.55 indicates Negative momentum. The RSI at 61.08 is Neutral, neither overbought nor oversold. The STOCH value of 81.61 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
OSIS	78 Outperform	$4.71B	31.92	17.58%	―	9.37%	15.70%
SANM	78 Outperform	$9.47B	38.68	10.38%	―	7.40%	13.79%
PLXS	75 Outperform	$3.87B	22.87	12.44%	―	1.82%	56.52%
TTMI	71 Outperform	$7.24B	54.28	8.12%	―	17.88%	91.41%
NOVT	65 Neutral	$4.63B	88.42	6.84%	―	4.07%	-12.34%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ST	61 Neutral	$4.47B	―	-0.92%	1.51%	-8.07%	63.50%

TTM Technologies Corporate Events

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.

TTM Technologies Reports Strong Q2 Earnings Amid Challenges

The recent earnings call for TTM Technologies highlighted a robust financial performance, showcasing notable revenue growth across key markets and achieving a record non-GAAP EPS. Despite facing challenges such as a slower ramp-up of the Penang facility and a decline in the automotive market, the overall sentiment was positive, emphasizing strong operational execution and strategic expansions.

TTM Technologies Reports Strong Q2 2025 Results

TTM Technologies, Inc. is a global leader in manufacturing technology solutions, specializing in mission systems, RF components, RF microwave/microelectronic assemblies, and advanced printed circuit boards (PCBs). The company is renowned for its time-critical, one-stop design, engineering, and manufacturing services that help customers accelerate product development and market entry.

TTM Technologies CEO Retirement Announcement

On July 30, 2025, TTM Technologies announced that its President and CEO, Thomas T. Edman, plans to retire following the appointment of his successor. The board has initiated a search for a new CEO, expected to conclude by the end of 2025. TTM reported strong financial results for the second quarter of 2025, with net sales of $730.6 million, a 21% increase from the previous year, and record revenues in the Aerospace and Defense and Data Center Computing markets. The company also highlighted its strategic acquisitions in Wisconsin and Penang to support regional diversification and future growth.

The most recent analyst rating on (TTMI) stock is a Buy with a $27.25 price target. To see the full list of analyst forecasts on TTM Technologies stock, see the TTMI Stock Forecast page.