Tearsheet

TTM Technologies (TTMI)

Market Price (12/4/2025): $71.15 | Market Cap: $7.4 Bil
Sector: Information Technology | Industry: Electronic Manufacturing Services

TTM Technologies (TTMI)

Market Price (12/4/2025): $71.15
Market Cap: $7.4 Bil
Sector: Information Technology
Industry: Electronic Manufacturing Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%	Stock price has recently run up significantly 6M Rtn6 month market price return is 106%, 12M Rtn12 month market price return is 173%
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Data Centers & Infrastructure, Show more.	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 158%

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Data Centers & Infrastructure, Show more.
2	Stock price has recently run up significantly 6M Rtn6 month market price return is 106%, 12M Rtn12 month market price return is 173%
3	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 158%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$71.15	$24.75	$15.81	$15.08	$14.90
Market Cap CYE ($ Bil)	7.4	2.5	1.6	1.5	1.6
Total Debt ($ Bil)	1.0	1.0	1.0	1.0	1.0
Total Cash ($ Bil)	0.5	0.5	0.5	0.4	0.5
Enterprise Value ($ Bil)	7.9	3.5	2.6	2.5	2.6
Valuation Ratios
P/S TTM	2.3	1.0	0.7	0.6	0.7
P/EBIT TTM	30.7	19.2	33.5	6.7	13.7
P/E TTM	48.1	44.7	-86.8	16.3	29.1
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.7
P/EBIT TTM (Sector)	0.4	-0.0	-0.1	-0.7	3.1
P/E TTM (Sector)	-0.5	-0.3	-0.4	-0.8	0.1

	12/4/25	2024	2023
Share Price CYE	$71.15	$24.75	$15.81
Market Cap CYE ($ Bil)	7.4	2.5	1.6
Total Debt ($ Bil)	1.0	1.0	1.0
Total Cash ($ Bil)	0.5	0.5	0.5
Enterprise Value ($ Bil)	7.9	3.5	2.6
Valuation Ratios
P/S TTM	2.3	1.0	0.7
P/EBIT TTM	30.7	19.2	33.5
P/E TTM	48.1	44.7	-86.8
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	0.4	-0.0	-0.1
P/E TTM (Sector)	-0.5	-0.3	-0.4

	TTMI	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	2.8
Rev Chg Q	22.1%	7.1%
Rev Chg LTM	17.9%	6.1%
Rev Chg 3Y Avg	4.5%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	8.4%	18.8%
CFO/Rev LTM	11.3%	20.5%
Net Inc Mgn	4.7%	13.1%
VALUATION	VERY HIGH
P/S	2.3	3.2
P/CFO	20.1	15.8
P/FCF	177.2	20.5
P/E	48.1	23.5
STABILITY	VERY GOOD
Debt/Equity	0.16	0.20
Cash/Assets	0.13	0.07

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Metric	Value	Date	Source
Book-to-bill ratio	1.15	10302025	Link
Aerospace and Defense program backlog	1.46 billion	10302025	Link
90-day backlog	610.4 million	10302025	Link

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -

TTMI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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TTM Technologies (TTMI) stock experienced significant upward movement between August 31, 2025, and December 4, 2025, driven by several positive developments.

1. Strong Third Quarter 2025 Earnings Beat. TTM Technologies reported robust Q3 CY2025 results, exceeding market expectations for both revenue and adjusted EPS. Revenue rose 22.1% year-on-year to $752.7 million, surpassing analyst estimates of $710.1 million. Adjusted EPS reached $0.67, beating estimates of $0.60.

2. Optimistic Q4 2025 Guidance. Following the strong Q3 performance, the company provided optimistic guidance for Q4 CY2025, with revenue projected at $750 million at the midpoint, above analyst estimates, and adjusted EPS guidance of $0.67 at the midpoint, also exceeding analyst expectations.

Stock Movement Drivers

Fundamental Drivers

The 44.4% change in TTMI stock from 9/3/2025 to 12/3/2025 was primarily driven by a 34.6% change in the company's Net Income Margin (%).

	9032025	12032025	Change
Stock Price ($)	46.23	66.76	44.41%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2646.79	2782.99	5.15%
Net Income Margin (%)	3.52%	4.74%	34.65%
P/E Multiple	50.53	52.28	3.47%
Shares Outstanding (Mil)	101.86	103.32	-1.44%
Cumulative Contribution			44.38%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
TTMI	44.4%
Market (SPY)	6.2%	61.1%
Sector (XLK)	11.0%	68.0%

Fundamental Drivers

The 106.2% change in TTMI stock from 6/4/2025 to 12/3/2025 was primarily driven by a 53.2% change in the company's Net Income Margin (%).

	6042025	12032025	Change
Stock Price ($)	32.37	66.76	106.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2521.31	2782.99	10.38%
Net Income Margin (%)	3.09%	4.74%	53.22%
P/E Multiple	42.27	52.28	23.69%
Shares Outstanding (Mil)	101.87	103.32	-1.43%
Cumulative Contribution			106.20%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
TTMI	106.2%
Market (SPY)	15.1%	60.2%
Sector (XLK)	22.7%	67.9%

Fundamental Drivers

The 172.6% change in TTMI stock from 12/3/2024 to 12/3/2025 was primarily driven by a 63.5% change in the company's Net Income Margin (%).

	12032024	12032025	Change
Stock Price ($)	24.49	66.76	172.60%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2360.83	2782.99	17.88%
Net Income Margin (%)	2.90%	4.74%	63.46%
P/E Multiple	36.47	52.28	43.36%
Shares Outstanding (Mil)	101.96	103.32	-1.34%
Cumulative Contribution			172.55%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
TTMI	172.6%
Market (SPY)	14.3%	60.8%
Sector (XLK)	23.1%	67.1%

Fundamental Drivers

The 316.7% change in TTMI stock from 12/4/2022 to 12/3/2025 was primarily driven by a 209.6% change in the company's P/E Multiple.

	12042022	12032025	Change
Stock Price ($)	16.02	66.76	316.73%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2476.03	2782.99	12.40%
Net Income Margin (%)	3.92%	4.74%	21.07%
P/E Multiple	16.89	52.28	209.61%
Shares Outstanding (Mil)	102.20	103.32	-1.10%
Cumulative Contribution			316.68%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
TTMI	350.8%
Market (SPY)	53.2%	55.2%
Sector (XLK)	60.2%	55.7%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
TTMI Return	-8%	8%	1%	5%	57%	170%	344%
Peers Return	25%	36%	-17%	21%	-0%	26%	116%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
TTMI Win Rate	50%	67%	50%	67%	67%	50%
Peers Win Rate	50%	52%	30%	52%	45%	54%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
TTMI Max Drawdown	-41%	-10%	-21%	-26%	-12%	-29%
Peers Max Drawdown	-27%	-1%	-28%	-7%	-11%	-25%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AMAT, TXN, ADI, DIOD, TEL. See TTMI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	TTMI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-35.7%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	55.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	194 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-44.1%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	78.8%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	864 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-56.2%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	128.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1852 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-74.7%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	295.4%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	767 days	1480 days

Compare to AMAT, TXN, ADI, DIOD, TEL

In The Past

TTM Technologies's stock fell -35.7% during the 2022 Inflation Shock from a high on 8/25/2022. A -35.7% loss requires a 55.5% gain to breakeven.

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About TTM Technologies (TTMI)

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.

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Here are a couple of brief analogies for TTM Technologies (TTMI):

Corning for circuit boards
Intel for printed circuit boards

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Printed Circuit Boards (PCBs): TTM Technologies is a leading global manufacturer of diverse types of printed circuit boards, which serve as fundamental building blocks for nearly all electronic devices.
RF & Specialty Components: The company produces a range of radio frequency (RF) components, RF assemblies, and specialized products essential for high-frequency and high-performance applications across various industries.

AI Generated Analysis | Feedback

TTM Technologies (symbol: TTMI) primarily sells its products, which include printed circuit boards (PCBs) and radio frequency (RF) components, to other companies (B2B). These components are integrated into a wide range of finished products by its customers.

Based on TTM Technologies' latest annual report (10-K filing for the fiscal year ended December 31, 2023), the company explicitly states that no single customer accounted for 10% or more of its net sales in 2023, 2022, or 2021. This indicates that TTMI has a highly diversified customer base and does not rely on any single major customer for a significant portion of its revenue.

As such, TTM Technologies does not publicly disclose the names of individual "major customers" that meet a significant revenue threshold. Its products are integrated into a wide range of applications across several key end markets, including:

Aerospace & Defense
Automotive
Data Center Computing
Industrial & Instrumentation
Medical

While the specific names of its individual major customers are not publicly identified by the company, TTMI serves a broad spectrum of manufacturers and technology companies within these global sectors.

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Edwin Roks, President and Chief Executive Officer

Edwin Roks, Ph. D., joined TTM Technologies as President and Chief Executive Officer in September 2025. He also serves as a member of the Board of Directors. Dr. Roks brings over 25 years of leadership experience in global technology businesses. Prior to TTM, he served as Chief Executive Officer of Teledyne Technologies Incorporated, where he also led its largest business segment as President of Teledyne Digital Imaging from 2015 to 2024. Earlier, Dr. Roks held the position of Teledyne's Chief Technology Officer and various other executive management roles. From 1990 to 2005, he worked at Philips Research Laboratories and Philips Semiconductor (now NXP), holding several senior technical positions, including Chief Technology Officer and R&D Director in the imaging divisions.

Daniel L. Boehle, Executive Vice President and Chief Financial Officer

Daniel L. Boehle became TTM Technologies' Executive Vice President, Chief Financial Officer in September 2023, having joined the company as Executive Vice President in August 2023. Prior to TTM, Mr. Boehle served as Vice President and Chief Financial Officer for Aerojet Rocketdyne Holdings, Inc. from 2020 to 2023. He was also Vice President, Controller, and Chief Accounting Officer for Aerojet from August 2017 to July 2020. Earlier in his career, he held various leadership roles across corporate accounting, financial reporting, and financial planning and analysis at Northrop Grumman Corporation.

Catherine A. Gridley, Executive Vice President and President, Aerospace & Defense (A&D) Sector

Catherine A. Gridley joined TTM Technologies in 2019. Prior to her current role, she was Vice President and General Manager of the Advanced Defense Services Division at Northrop Grumman Corporation. Before Northrop Grumman, Ms. Gridley held various P&L leadership positions with DynCorp International, GE Aviation Systems, and Goodrich.

Douglas L. Soder, Executive Vice President and President of the Commercial Sector

Douglas L. Soder joined TTM Technologies in 2006. Before his current position, he served as EVP and President of the Communications and Computing Business Unit from 2015 to 2018, EVP and President of the North America Business Unit from 2012 through 2015, and EVP Global Sales from 2006 to 2012. Before joining TTM, Mr. Soder was Executive Vice President of Tyco Electronics - Printed Circuit Group, a position he held from 2001.

Daniel J. Weber, Senior Vice President, General Counsel & Secretary

Daniel J. Weber has served as Senior Vice President, General Counsel and Secretary of TTM Technologies, Inc. since February 2016. He joined TTM in 2015. Before his tenure at TTM, Mr. Weber served as General Counsel for Viasystems for approximately 11 years, and had been in-house counsel for Viasystems for over 15 years. He was also Vice President and General Counsel of Courtesy Corporation, a plastic molding manufacturer, and General Counsel of International Wire Group, Inc., a multinational insulated and bare copper wire manufacturer. In the early 2000s, Mr. Weber was part of a team that managed companies acquired by Hicks, Muse, Tate and Furst, a private equity firm, which included Viasystems, International Wire Group (IWG), and Courtesy Corporation, all of which later went through bankruptcy after the 2001 economic downturn. Mr. Weber steered Viasystems through its acquisition by TTM in 2015.

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The emergence of additive manufacturing (3D printed electronics) capable of producing complex circuit boards and RF components, which could eventually offer advantages in design flexibility, rapid prototyping, and potentially lower production costs or faster time-to-market compared to traditional subtractive manufacturing processes used by TTM.

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TTM Technologies (symbol: TTMI) operates in several significant addressable markets for its main products and services, primarily focusing on Printed Circuit Boards (PCBs), RF and Microwave Components/Assemblies, and Advanced Integrated Solutions. These offerings cater to a diverse range of industries including aerospace and defense, automotive, and data center computing.

Addressable Markets for TTM Technologies' Main Products and Services:

Printed Circuit Boards (PCBs):
- The global printed circuit board market was valued at approximately USD 73.1 billion in 2024 and is projected to reach USD 97.7 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 3.30%. Other estimates place the global market at USD 71.57 billion in 2024, expected to reach USD 113.49 billion by 2032 with a CAGR of 6.3%. Asia Pacific accounts for the largest share of this market.
RF and Microwave Components & Assemblies:
- The global RF component market size was estimated at USD 46.5 billion in 2024 and is projected to grow to USD 171.5 billion by 2034, demonstrating a significant CAGR of 14%.
- The global microwave devices market was valued at USD 8.31 billion in 2024 and is anticipated to grow at a CAGR of 5.5% from 2025 to 2034.
- For space-based RF microwave technology, the global market size was approximately USD 8.25 billion in 2024 and is projected to reach USD 15.43 billion by 2033, with a CAGR of 7.2%.
Advanced Integrated Solutions & Systems Integration:
- The global integrated systems market was valued at USD 30.08 billion in 2024 and is projected to reach USD 138.64 billion by 2035, exhibiting a substantial CAGR of 14.90%. Other analyses suggest the global integrated systems market size was USD 27.81 billion in 2024, forecasted to grow to USD 56.52 billion by 2033 at an 8.2% CAGR. North America is a dominant region in this market, holding approximately 42% of the global share.
- More broadly, the global system integration market reached USD 451.6 billion in 2024 and is projected to reach USD 847.5 billion by 2033, with a CAGR of 6.88%. North America also leads this market.

Key End Markets Served by TTM Technologies:

Aerospace and Defense Electronics:
- The global aerospace-defense electronics market was valued at approximately USD 145.7 billion in 2023 and is projected to grow to USD 258.3 billion by 2032, with a CAGR of 6.4%. Another estimate for the global defense electronics market size was USD 176.0 billion in 2024, with a projection to reach USD 278.2 billion by 2033 at a CAGR of 4.96%. North America holds a significant share in the aerospace electronics market.
Automotive Electronics:
- The global automotive electronics market was valued at USD 283.8 billion in 2024 and is expected to reach approximately USD 641.7 billion by 2034, growing at a CAGR of 8.6%. Asia Pacific holds the largest market share in automotive electronics.
Data Center Computing:
- The global data center chip market was estimated at USD 21.21 billion in 2024 and is projected to reach USD 42.74 billion by 2030, with a CAGR of 12.5%. The broader global data center market was valued at USD 214.0 billion in 2023 and is predicted to reach USD 406.6 billion by 2030, with a CAGR of 9.60%. North America holds the largest market share in the data center chip market and the overall data center market.

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Expected Drivers of Future Revenue Growth for TTM Technologies (TTMI)

TTM Technologies (TTMI) is anticipated to drive future revenue growth over the next 2-3 years through several key areas:

Robust Demand in Aerospace and Defense (A&D) Market: TTM Technologies continues to experience strong and sustained demand within its Aerospace and Defense segment, which represented 46% of total sales in Q3 2025. The company has a significant A&D program backlog of approximately $1.46 billion, providing good visibility into future sales. Growth in this market is fueled by positive defense budget tailwinds and increased military equipment builds, including demand for AESA Radar technology.
Expanding Presence in Data Center Computing, Driven by AI: The burgeoning demand for generative artificial intelligence (AI) is a significant catalyst for TTM's Data Center Computing and Networking end markets. This segment has shown substantial year-over-year growth, with Data Center Computing sales surging 44% in Q3 2025, reaching a record high due to continued demand from data center customers building products for Gen AI.
Strategic Expansion with New Manufacturing Facilities: The company is investing in new, advanced manufacturing facilities to support future growth and enhance supply chain resiliency. The Penang, Malaysia facility is already contributing to sales, and TTM expects continued growth from this site. Additionally, the new Ultra-HDI PCB facility in Syracuse, New York, is progressing, with equipment installation underway and volume production expected to commence in the second half of 2026.
Shift Towards Advanced Technology and Engineered Products: TTM is strategically transforming its business model by focusing on higher-margin, differentiated solutions, including advanced technology and engineered products. This shift involves leveraging its capabilities in mission systems, RF components, and RF microwave/microelectronic assemblies to meet the critical performance and reliability needs of its target markets.
Growth in Networking and Medical, Industrial, and Instrumentation (MII) Markets: Beyond its primary growth drivers, TTM is also benefiting from expansion in its Networking and Medical, Industrial, and Instrumentation (MII) end markets. The Networking segment, in particular, is showing strong year-on-year growth, partly driven by AI-related demand. The MII segment also posted a 14% growth in Q3 2025.

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Share Repurchases

On May 3, 2023, TTM Technologies authorized a $100 million share repurchase program set to expire on May 3, 2025.
A new $100 million share repurchase program was authorized on May 9, 2025, effective through May 7, 2027, replacing the previous expiring program.
These repurchase programs are viewed as a prudent use of capital, leveraging strong cash flow and a solid balance sheet, while maintaining flexibility for strategic acquisitions.

Outbound Investments

TTM Technologies completed the acquisition of Telephonics Corporation in June 2022 for approximately $330 million in cash, expanding its Aerospace and Defense product offerings.
In July 2025, the company acquired a 750,000-square-foot manufacturing facility in Eau Claire, Wisconsin, to enhance high-volume, advanced technology PCB production, particularly for data center computing and generative AI applications.
Also in July 2025, TTM secured land rights for a future manufacturing site in Penang, Malaysia, aimed at diversifying supply chains and providing cost-competitive advanced technology PCB manufacturing in Southeast Asia.

Capital Expenditures

Capital expenditures for TTM Technologies averaged $126.8 million from fiscal years 2020 to 2024, peaking at $220.7 million in June 2025.
Expected capital expenditures for 2025 are projected to be between $265 million and $285 million, with $54 million specifically allocated to the Syracuse, NY plant.
The primary focus of capital expenditures includes expanding High Density Interconnect (HDI), RF technology, and other advanced manufacturing capabilities in the PCB segment, as well as designing new products in the RF&S Components segment, to support data center computing, generative AI, and national security requirements.

Better Bets than TTM Technologies (TTMI)

	TTMI	Better Performance than TTMI
Metric	Value	INDUSTRY: Electronic Manufacturing Services
Rev Chg LTM	17.9%	FN (19.7%)
Rev Chg 3Y Avg	4.5%	FN (14.9%), PLXS (5.2%), SANM (4.6%)
Op Mgn LTM	8.4%	TEL (19.3%), CTS (15.4%), FN (9.5%)
CFO/Rev LTM	11.3%	TEL (22.7%), CTS (18.6%), IPGP (12.5%)
FCF/Rev LTM	1.3%	TEL (17.4%), FN (5.6%), SANM (4.5%), FLEX (4.5%), JBL (3.9%)
Total Yield	2.2%	SANM (4.9%), TEL (4.5%), FLEX (4.0%), JBL (2.9%), FN (2.7%)
P/S	2.1	BHE (0.5), SANM (0.7), JBL (0.8), FLEX (0.8), PLXS (0.9)
P/Op Inc	25.5	SANM (13.9), TEL (15.6), JBL (16.2), FLEX (16.7), PLXS (17.6)

	TTMI	Better Performance than TTMI
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	17.9%	NVDA (71.6%), MU (48.9%), PLTR (47.2%), AMD (31.8%), AVGO (28.0%)
Rev Chg 3Y Avg	4.5%	NVDA (92.0%), PLTR (29.3%), AVGO (24.0%), MSFT (13.2%), ORCL (10.2%)
Op Mgn LTM	8.4%	NVDA (58.1%), MSFT (46.3%), AVGO (39.0%), AAPL (31.9%), ORCL (31.6%)
CFO/Rev LTM	11.3%	MSFT (50.0%), NVDA (46.6%), AVGO (42.4%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	1.3%	PLTR (46.0%), NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%)
Total Yield	2.2%	CSCO (6.0%), MSFT (3.4%), AAPL (3.0%), ORCL (2.8%), NVDA (2.3%)
P/S	2.1	HPQ (0.4), HPE (0.8), DELL (0.8), CTSH (1.6), SNDK (2.1)
P/Op Inc	25.5	QCOM (14.5), AMAT (16.9), MU (19.1), CSCO (22.0), IBM (22.8)

	TTMI	Better Performance than TTMI
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	17.9%	LLY (36.8%), SCHW (22.3%), ISRG (22.2%), META (21.3%), UBER (18.2%)
Rev Chg 3Y Avg	4.5%	BRK-B (19.8%), META (17.3%), AMZN (11.3%), GOOGL (11.0%), TSLA (9.3%)
Op Mgn LTM	8.4%	META (43.2%), LLY (43.0%), GOOGL (32.2%), XOM (11.4%), AMZN (11.4%)
CFO/Rev LTM	11.3%	META (56.8%), GOOGL (39.3%), LLY (20.5%), AMZN (18.1%), TSLA (16.5%)
FCF/Rev LTM	1.3%	META (23.7%), GOOGL (19.1%), TSLA (7.1%), BRK-B (4.8%), AMZN (2.0%)
Total Yield	2.2%	BRK-B (6.2%), GOOGL (4.6%), META (3.5%), AMZN (3.0%), LLY (2.7%)
P/S	2.1	UNH (0.7), WMT (1.1), XOM (1.4), COST (1.5), CVX (1.6)
P/Op Inc	25.5	XOM (12.4), V (16.6), JNJ (18.5), META (22.6), GOOGL (23.7)

		Best Bets In Information Technology Sector
	TTMI
What You Pay
P/E	45.1
P/EBIT	28.8
What You Get
Rev Chg Q	22.1%
Rev Chg LTM	17.9%
Rev Chg 3Y Avg	4.5%
FCF/Rev 3Y Avg	1.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	TTM Technologies Stock Jump Looks Great, But How Secure Is That Gain?	Return
2	TTM Technologies vs Aon: Which Is A Better Investment?	Counter-Intuitive Comparisons
3	TTM Technologies vs Seagate Technology: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	TTM Technologies Stock vs Competition: Who Wins?	Peer Comparison
5	Better Bet Than TTMI Stock: Pay Less Than TTM Technologies To Get More From MU, VST
6	Better Bet Than TTMI Stock: Pay Less Than TTM Technologies To Get More From IDCC, MU
7	TTMI Dip Buy Analysis
8	TTM Technologies Total Shareholder Return (TSR): 56.2% in 2024 and 17.7% 3-yr compounded annual returns (above peer average)
9	TTM Technologies (TTMI) Operating Cash Flow Comparison	Financials
10	TTM Technologies (TTMI) Net Income Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to TTMI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%
TTMI_12312018_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	12312018	TTMI	TTM Technologies	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.3%	54.7%	-12.3%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	1.9%	1.9%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	3.7%	3.7%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.1%	5.1%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	5.5%	5.5%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.0%	8.0%	0.0%
TTMI_12312018_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	12312018	TTMI	TTM Technologies	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	4.3%	54.7%	-12.3%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for TTM Technologies

Peers to compare with:

Financials

	TTMI	AMAT	TXN	ADI	DIOD	TEL	Median
Name	TTM Tech.	Applied .	Texas In.	Analog D.	Diodes	TE Conne.
Mkt Price	66.76	268.63	182.60	278.24	51.33	230.80	206.70
Mkt Cap	6.9	214.4	166.0	137.6	2.4	68.3	102.9
Rev LTM	2,783	28,613	17,266	10,387	1,430	16,581	13,484
Op Inc LTM	233	8,623	6,012	2,630	33	3,200	2,915
FCF LTM	36	5,823	2,080	3,678	187	2,882	2,481
FCF 3Y Avg	45	6,457	1,732	3,439	113	2,661	2,196
CFO LTM	315	7,705	6,897	4,162	259	3,760	3,961
CFO 3Y Avg	244	7,788	6,560	4,310	227	3,424	3,867

Growth & Margins

	TTMI	AMAT	TXN	ADI	DIOD	TEL	Median
Name	TTM Tech.	Applied .	Texas In.	Analog D.	Diodes	TE Conne.
Rev Chg LTM	17.9%	6.6%	9.9%	7.1%	10.4%	4.9%	8.5%
Rev Chg 3Y Avg	4.5%	4.4%	-4.6%	-0.6%	-8.8%	1.8%	0.6%
Rev Chg Q	22.1%	7.7%	14.2%	24.6%	12.0%	13.9%	14.1%
QoQ Delta Rev Chg LTM	5.1%	1.9%	3.5%	5.8%	3.0%	3.5%	3.5%
Op Mgn LTM	8.4%	30.1%	34.8%	25.3%	2.3%	19.3%	22.3%
Op Mgn 3Y Avg	6.7%	29.4%	38.0%	27.5%	8.2%	18.2%	22.8%
QoQ Delta Op Mgn LTM	0.3%	0.5%	-0.1%	1.8%	-0.7%	0.2%	0.2%
CFO/Rev LTM	11.3%	26.9%	39.9%	40.1%	18.1%	22.7%	24.8%
CFO/Rev 3Y Avg	9.8%	28.5%	38.6%	39.5%	14.3%	21.1%	24.8%
FCF/Rev LTM	1.3%	20.4%	12.0%	35.4%	13.1%	17.4%	15.2%
FCF/Rev 3Y Avg	1.9%	23.7%	10.2%	31.5%	7.1%	16.4%	13.3%

Valuation

	TTMI	AMAT	TXN	ADI	DIOD	TEL	Median
Name	TTM Tech.	Applied .	Texas In.	Analog D.	Diodes	TE Conne.
Mkt Cap	6.9	214.4	166.0	137.6	2.4	68.3	102.9
P/S	2.1	5.1	9.7	11.3	1.7	3.0	4.1
P/EBIT	28.8	15.9	26.8	44.3	29.5	16.5	27.8
P/E	45.1	21.4	33.1	60.1	38.5	34.3	36.4
P/CFO	18.9	19.0	24.2	28.3	9.5	13.3	18.9
Total Yield	2.2%	5.6%	6.0%	3.3%	2.6%	4.5%	3.9%
Dividend Yield	0.0%	0.9%	3.0%	1.6%	0.0%	1.6%	1.3%
FCF Yield 3Y Avg	2.5%	4.4%	1.1%	3.2%	3.9%	-	3.2%
D/E	0.2	0.0	0.1	0.1	0.0	0.1	0.1
Net D/E	0.1	-0.0	0.1	0.0	-0.1	0.1	0.0

Returns

	TTMI	AMAT	TXN	ADI	DIOD	TEL	Median
Name	TTM Tech.	Applied .	Texas In.	Analog D.	Diodes	TE Conne.
1M Rtn	-4.5%	13.2%	13.1%	19.1%	-3.6%	-6.2%	4.7%
3M Rtn	44.4%	72.3%	-5.9%	13.8%	-2.5%	12.4%	13.1%
6M Rtn	106.2%	66.7%	-2.7%	27.8%	7.1%	43.4%	35.6%
12M Rtn	172.6%	48.1%	-4.4%	27.8%	-19.4%	54.4%	37.9%
3Y Rtn	316.7%	158.6%	12.6%	73.2%	-43.9%	-	73.2%
1M Excs Rtn	-4.4%	13.3%	13.1%	19.1%	-3.6%	-6.2%	4.8%
3M Excs Rtn	39.6%	64.7%	-7.0%	7.7%	-9.3%	5.7%	6.7%
6M Excs Rtn	91.5%	52.0%	-17.4%	13.1%	-7.6%	28.7%	20.9%
12M Excs Rtn	160.3%	41.7%	-19.8%	16.2%	-34.6%	41.5%	28.9%
3Y Excs Rtn	263.3%	93.9%	-57.2%	6.1%	-114.4%	-	6.1%

Comparison Analyses

	Title
0	TTM Technologies Stock vs Competition: Who Wins?
1	TTM Technologies vs. Texas Instruments: With Return Forecast Of 4.5%, Texas Instruments Is A Better Bet
2	With 12% Gains On The Table, AMAT May Outshine TTMI
3	With 11% Gains On The Table, DIOD May Outshine TTMI
4	TTM Technologies vs. Mednax: With Return Forecast Of 11%, Mednax Is A Better Bet
5	TTM Technologies vs. iHeartMedia: With Return Forecast Of 0.08%, TTM Technologies Is A Better Bet
6	TTM Technologies vs. Dave & Buster's Entertainment: With Return Forecast Of 47%, Dave & Buster's Entertainment Is A Better Bet
7	TTM Technologies vs. Veeva Systems: With Return Forecast Of 66%, Veeva Systems Is A Better Bet
8	TTM Technologies vs. MSCI: With Return Forecast Of 16%, MSCI Is A Better Bet
9	TTM Technologies vs. DexCom: With Return Forecast Of 80%, DexCom Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/30	LTM	2024	2023	2022	2021	2020	2019
Period End	9/29/2025	12/30/2024	1/1/2024	1/2/2023	1/3/2022	12/28/2020	12/30/2019
Filing Date	10/31/2025	2/21/2025	2/27/2024	3/3/2023	3/1/2022	2/22/2021	2/26/2020
Key Financials
Total Revenue	2,783	2,443	2,233	2,495	2,249	2,105	2,133
EBITDA	352	282	209	362	243	193	336
Operating Income	233	160	111	163	130	114	115
Net Income	132	56	-19	95	54	178	41
EPS	1.29	0.55	-0.18	0.93	0.51	1.67	0.39
Growth Rates
Total Revenue Growth	17.9%	9.4%	-10.5%	11.0%	6.8%	-1.3%	-4.7%
EBITDA Growth	21.4%	34.6%	-42.3%	49.2%	25.8%	-42.6%	-3.6%
Operating Income Growth	52.1%	44.3%	-31.9%	24.9%	14.2%	-0.8%	-7.0%
Net Income Growth	92.7%	400.8%	-119.8%	73.8%	-69.4%	329.9%	-76.2%
Margins
EBITDA Margin	12.7%	11.5%	9.4%	14.5%	10.8%	9.2%	15.8%
Operating Income Margin	8.4%	6.5%	5.0%	6.5%	5.8%	5.4%	5.4%
Net Income Margin	4.7%	2.3%	-0.8%	3.8%	2.4%	8.4%	1.9%
Cash & Debt
Total Cash	491	504	450	403	538	452	380
Total Debt	1,025	1,015	1,020	963	964	868	1,491
Net Debt / (Cash)	534	511	570	560	426	417	1,112
Cash Flows
Net Cash from Operations	315	237	187	273	177	287	312
Free Cash from Operations	36	51	27	170	95	184	169
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	18	34	24	35	65	-0	-0

$ Mil \| FY: 12/30	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/29/2025	6/30/2025	3/31/2025	12/30/2024	9/30/2024	7/1/2024	4/1/2024	1/1/2024	10/2/2023	7/3/2023	4/3/2023	1/2/2023
Filing Date	10/31/2025	8/4/2025	5/6/2025	2/21/2025	11/5/2024	8/6/2024	5/7/2024	2/27/2024	11/7/2023	8/10/2023	5/9/2023	3/3/2023
Key Financials Quarterly
Total Revenue	753	731	649	651	617	605	570	569	573	547	544	617
Ebitda	109	94	89	61	74	82	65	70	30	56	52	131
Operating Income	72	63	51	46	52	40	21	40	38	32	1	49
Net Income	53	42	32	5	14	26	10	17	-37	7	-6	6
EPS	0.51	0.41	0.32	0.05	0.14	0.26	0.10	0.17	-0.36	0.07	-0.06	0.06
Key Financials TTM
Total Revenue TTM	2,783	2,647	2,521	2,443	2,361	2,317	2,258	2,233	2,281	2,379	2,458	2,495
Ebitda TTM	352	317	305	282	290	247	222	209	270	336	355	362
Operating Income TTM	233	213	190	160	153	139	131	111	119	132	137	163
Net Income TTM	132	93	78	56	68	17	-2	-19	-30	51	72	95
Growth Rates Quarterly
Total Revenue Growth	22.1%	20.7%	13.8%	14.4%	7.7%	10.7%	4.7%	-7.8%	-14.7%	-12.6%	-6.3%	3.2%
EBITDA Growth	47.5%	14.7%	36.5%	-12.6%	142.5%	44.4%	24.5%	-46.6%	-68.2%	-26.0%	-11.7%	101.5%
Operating Income Growth	38.3%	57.9%	142.7%	16.5%	37.8%	24.2%	2905.0%	-17.9%	-24.6%	-14.5%	-97.3%	30.2%
Net Income Growth	270.7%	57.6%	207.5%	-70.2%	138.6%	286.2%	280.0%	188.2%	-185.2%	-75.4%	-133.7%	-28.3%
Margins Quarterly
EBITDA Margin	14.5%	12.8%	13.6%	9.4%	12.0%	13.5%	11.4%	12.3%	5.3%	10.3%	9.6%	21.3%
Operating Income Margin	9.6%	8.6%	7.9%	7.1%	8.5%	6.6%	3.7%	7.0%	6.6%	5.9%	0.1%	7.9%
Net Income Margin	7.0%	5.7%	5.0%	0.8%	2.3%	4.4%	1.8%	3.0%	-6.5%	1.2%	-1.1%	1.0%
Cash & Debt
Total Cash	491	448	411	504	470	446	440	450	408	399	417	403
Total Debt	1,025	1,028	1,020	1,015	1,021	1,013	1,015	1,020	970	896	910	963
Net Debt / (Cash)	534	580	608	511	551	567	575	570	562	497	492	560
Cash Flows Quarterly
FCF from Operations	142	98	-11	86	65	42	44	47	59	26	55	78
Cash Flows TTM
FCF from Operations TTM	315	238	182	237	198	192	176	187	217	239	292	273
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	18	-0	-0	25	9	10	15	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	22.7%	20.4%	13.9%	6.2%	10.8%	12.3%	5.3%	13.2%	12.8%	5.7%	0.1%	1.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	17.3%	14.0%	11.6%	9.9%	10.8%	4.7%	11.2%	9.4%	10.1%	4.4%	5.7%	7.0%

Segment Financials

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Printed circuit boards (PCB)	2,032	1,891	1,655	1,529	2,088
Corporate and Other	1,149	1,230	1,153
Radio frequency and Specialty (RF&S) Components	143	203	217	228	39
Electro-mechanical solutions (E-M Solutions)				1,139	157
Other corporate expenses					1,278
Total	3,324	3,324	3,026	2,896	3,561

Price Behavior

Price Behavior

Market Price	$66.76
Market Cap ($ Bil)	6.9
First Trading Date	09/25/2000
Distance from 52W High	-5.3%
	50 Days	200 Days
DMA Price	$61.81	$40.74
DMA Trend	up	up
Distance from DMA	8.0%	63.9%
	3M	1YR
Volatility	64.7%	55.5%
Downside Capture	333.42	176.53
Upside Capture	415.70	254.29
Correlation (SPY)	61.6%	60.7%

TTMI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	4.80	3.43	3.18	3.17	1.70	1.55
Up Beta	3.26	1.31	1.20	2.48	1.26	1.37
Down Beta	10.90	3.47	3.45	3.75	1.72	1.45
Up Capture	619%	579%	641%	701%	689%	1067%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	24	37	74	143	390
Down Capture	351%	314%	261%	211%	133%	109%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	18	26	51	105	355

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of TTMI With Other Asset Classes (Last 1Y)
	TTMI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	176.6%	25.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	55.2%	27.6%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	2.04	0.81	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		67.1%	60.8%	3.5%	28.6%	29.7%	30.6%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of TTMI With Other Asset Classes (Last 5Y)
	TTMI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	38.3%	19.9%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	41.4%	24.6%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	0.91	0.73	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		52.2%	53.1%	10.1%	16.3%	37.6%	21.0%

Based On 10-Year Data

		Comparison of TTMI With Other Asset Classes (Last 10Y)
	TTMI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	24.0%	22.2%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	42.8%	24.2%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.65	0.84	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		50.4%	51.8%	5.6%	21.0%	36.2%	13.3%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	5,109,666
Short Interest: % Change Since 10312025	32.9%
Average Daily Volume	2,474,460
Days-to-Cover Short Interest	2.06
Basic Shares Quantity	103,321,000
Short % of Basic Shares	4.9%

Returns Analyses

	Title
0	TTM Technologies Stock Jump Looks Great, But How Secure Is That Gain?
1	TTM Technologies Stock Return Comparison
2	TTM Technologies (TTMI) Stock Return: AI Predicts TTMI Average and Excess Return After a Fall or Rise

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10312025	10-Q 9/29/2025
6302025	8042025	10-Q 6/30/2025
3312025	5062025	10-Q 3/31/2025
12312024	2212025	10-K 12/30/2024
9302024	11052024	10-Q 9/30/2024
6302024	8062024	10-Q 7/1/2024
3312024	5072024	10-Q 4/1/2024
12312023	2272024	10-K 1/1/2024
9302023	11072023	10-Q 10/2/2023
6302023	8102023	10-Q 7/3/2023
3312023	5092023	10-Q 4/3/2023
12312022	3032023	10-K 1/2/2023
9302022	11082022	10-Q 10/3/2022
6302022	8102022	10-Q 7/4/2022
3312022	5112022	10-Q 4/4/2022
12312021	3012022	10-K 1/3/2022

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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TTM Technologies (TTMI)

Market Price (12/4/2025): $71.15 | Market Cap: $7.4 BilSector: Information Technology | Industry: Electronic Manufacturing Services

TTM Technologies (TTMI)

Market Price (12/4/2025): $71.15Market Cap: $7.4 BilSector: Information TechnologyIndustry: Electronic Manufacturing Services

Valuation, Metrics & Events

TTMI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

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In The Past

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About TTM Technologies (TTMI)

Addressable Markets for TTM Technologies' Main Products and Services:

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Expected Drivers of Future Revenue Growth for TTM Technologies (TTMI)

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Market Price (12/4/2025): $71.15 | Market Cap: $7.4 Bil
Sector: Information Technology | Industry: Electronic Manufacturing Services

Market Price (12/4/2025): $71.15
Market Cap: $7.4 Bil
Sector: Information Technology
Industry: Electronic Manufacturing Services