TTM Technologies Stock To $66?
TTM Technologies (TTMI) stock has jumped 20% during the past day, and is currently trading at $93.24. Our multi-factor assessment suggests that it may be time to sell TTMI stock. We have, overall, a pessimistic view of the stock, and a price of $66 may not be out of reach. We believe there are only a couple of things to fear in TTMI stock given its overall Moderate operating performance and financial condition. But keeping in mind its Very High valuation, we think that the stock is Unattractive.
Below is our assessment:
| CONCLUSION | |
|---|---|
| What you pay: | |
| Valuation | Very High |
| What you get: | |
| Growth | Strong |
| Profitability | Weak |
| Financial Stability | Very Strong |
| Downturn Resilience | Moderate |
| Operating Performance | Moderate |
| Stock Opinion | Unattractive |
Smart investing isn’t about stock picking or prediction, it’s about asset allocation. See how Trefis’ Boston-based, wealth management partner does it. It has included High Quality Portfolio as part of its asset allocation strategy.
Let’s get into details of each of the assessed factors but before that, for quick background: With $9.6 Bil in market cap, TTM Technologies provides manufacturing and sales of printed circuit boards, including heavy copper cores, embedded components, and press-fit coins across PCB and RF&S segments.
[1] Valuation Looks Very High
| TTMI | S&P 500 | |
|---|---|---|
| Price-to-Sales Ratio | 3.5 | 3.3 |
| Price-to-Earnings Ratio | 73.4 | 24.1 |
| Price-to-Free Cash Flow Ratio | 270.5 | 21.5 |
This table highlights how TTMI is valued vs broader market. For more details see: TTMI Valuation Ratios
[2] Growth Is Strong
- TTM Technologies has seen its top line grow at an average rate of 4.5% over the last 3 years
- Its revenues have grown 18% from $2.4 Bil to $2.8 Bil in the last 12 months
- Also, its quarterly revenues grew 22.1% to $753 Mil in the most recent quarter from $617 Mil a year ago.
| TTMI | S&P 500 | |
|---|---|---|
| 3-Year Average | 4.5% | 5.6% |
| Latest Twelve Months* | 17.9% | 6.4% |
| Most Recent Quarter (YoY)* | 22.1% | 7.3% |
This table highlights how TTMI is growing vs broader market. For more details see: TTMI Revenue Comparison
[3] Profitability Appears Weak
- TTMI last 12 month operating income was $233 Mil representing operating margin of 8.4%
- With cash flow margin of 11.3%, it generated nearly $315 Mil in operating cash flow over this period
- For the same period, TTMI generated nearly $132 Mil in net income, suggesting net margin of about 4.7%
| TTMI | S&P 500 | |
|---|---|---|
| Current Operating Margin | 8.4% | 18.8% |
| Current OCF Margin | 11.3% | 20.5% |
| Current Net Income Margin | 4.7% | 13.1% |
This table highlights how TTMI profitability vs broader market. For more details see: TTMI Operating Income Comparison
[4] Financial Stability Looks Very Strong
- TTMI Debt was $1.0 Bil at the end of the most recent quarter, while its current Market Cap is $9.6 Bil. This implies Debt-to-Equity Ratio of 10.6%
- TTMI Cash (including cash equivalents) makes up $491 Mil of $3.7 Bil in total Assets. This yields a Cash-to-Assets Ratio of 13.2%
| TTMI | S&P 500 | |
|---|---|---|
| Current Debt-to-Equity Ratio | 10.6% | 19.9% |
| Current Cash-to-Assets Ratio | 13.2% | 7.2% |
[5] Downturn Resilience Is Moderate
TTMI saw an impact slightly worse than the S&P 500 index during various economic downturns. We assess this based on both (a) how much the stock fell and, (b) how quickly it recovered.
2022 Inflation Shock
- TTMI stock fell 35.7% from a high of $17.43 on 25 August 2022 to $11.21 on 25 October 2023 vs. a peak-to-trough decline of 25.4% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 6 May 2024
- Since then, the stock increased to a high of $93.24 on 13 January 2026 $93.24
| TTMI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -35.7% | -25.4% |
| Time to Full Recovery | 194 days | 464 days |
2020 Covid Pandemic
- TTMI stock fell 44.1% from a high of $15.80 on 23 January 2020 to $8.84 on 23 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 4 August 2022
| TTMI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -44.1% | -33.9% |
| Time to Full Recovery | 864 days | 148 days |
2008 Global Financial Crisis
- TTMI stock fell 74.7% from a high of $15.42 on 3 June 2008 to $3.90 on 20 November 2008 vs. a peak-to-trough decline of 56.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 27 December 2010
| TTMI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -74.7% | -56.8% |
| Time to Full Recovery | 767 days | 1,480 days |
But the risk is not limited to major market crashes. Stocks fall even when markets are good – think events like earnings, business updates, outlook changes. Read TTMI Dip Buyer Analyses to see how the stock has recovered from sharp dips in the past.
The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 – the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.