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TTM Technologies, Inc. (TTMI) 10-Year Financial Performance & Capital Metrics

TTMI • • Industrial / General
TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Contract Electronics Manufacturing
AboutTTM 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.Show more
  • Revenue $2.44B +9.4%
  • EBITDA $266M +31.1%
  • Net Income $56M +400.8%
  • EPS (Diluted) 0.54 +400.0%
  • Gross Margin 19.54% +5.6%
  • EBITDA Margin 10.9% +19.8%
  • Operating Margin 4.75% +150.6%
  • Net Margin 2.3% +374.9%
  • ROE 3.66% +398.0%
  • ROIC 4.19% +175.6%
  • Debt/Equity 0.65 -3.8%
  • Interest Coverage 2.44 +177.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 92 (top 8%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak 3Y average ROE of 2.9%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.3%
5Y2.75%
3Y2.8%
TTM17.88%

Profit (Net Income) CAGR

10Y14.38%
5Y6.39%
3Y1.14%
TTM92.7%

EPS CAGR

10Y11.61%
5Y6.72%
3Y2.6%
TTM90.82%

ROCE

10Y Avg5.4%
5Y Avg4.14%
3Y Avg4.8%
Latest4.39%

Peer Comparison

Contract Electronics Manufacturing
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TTMITTM Technologies, Inc.8.05B77.89144.249.41%4.74%7.75%0.64%0.65
CLSCelestica Inc.36.2B314.7087.1721.17%6.2%34.36%0.84%0.42
PLXSPlexus Corp.4.29B160.3739.99-5.93%4.29%11.89%7.95%0.21
JBLJabil Inc.24.35B230.5838.953.18%2.26%52.19%4.81%2.22
SANMSanmina Corporation8.79B161.0136.107.4%3.03%9.68%5.44%0.12
FLEXFlex Ltd.22.98B62.1429.45-2.28%3.33%17.4%4.64%0.83
BHEBenchmark Electronics, Inc.1.64B45.9826.73-6.44%1.43%3.36%9.51%0.33
DSWLDeswell Industries, Inc.55.3M3.474.96-2.53%13.76%18.46%23.88%

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Jan 2022Jan 2023Jan 2024Dec 2024
Sales/Revenue+2.1B2.53B2.66B2.24B2.13B2.11B2.25B2.5B2.23B2.44B
Revenue Growth %0.58%0.21%0.05%-0.16%-0.05%-0.01%0.07%0.11%-0.11%0.09%
Cost of Goods Sold+1.79B2.11B2.23B1.84B1.76B1.75B1.88B2.04B1.82B1.97B
COGS % of Revenue0.85%0.83%0.84%0.82%0.82%0.83%0.83%0.82%0.81%0.8%
Gross Profit+310.14M423.62M429.58M402.67M377.18M359.02M372.01M457.96M413.27M477.38M
Gross Margin %0.15%0.17%0.16%0.18%0.18%0.17%0.17%0.18%0.19%0.2%
Gross Profit Growth %0.59%0.37%0.01%-0.06%-0.06%-0.05%0.04%0.23%-0.1%0.16%
Operating Expenses+248.79M250.16M216.82M283.7M267.55M330.93M246.02M247.56M370.95M361.33M
OpEx % of Revenue0.12%0.1%0.08%0.13%0.13%0.16%0.11%0.1%0.17%0.15%
Selling, General & Admin225.03M213.61M192M208.34M198.46M186.36M187.88M233.36M226.55M250.14M
SG&A % of Revenue0.11%0.08%0.07%0.09%0.09%0.09%0.08%0.09%0.1%0.1%
Research & Development00013.72M17.94M19.77M18.15M24.81M27.27M31.84M
R&D % of Revenue---0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Other Operating Expenses23.77M36.55M24.82M61.64M51.16M124.8M39.99M-10.61M117.13M79.35M
Operating Income+61.34M173.45M212.76M118.97M109.63M28.09M125.99M210.41M42.32M116.04M
Operating Margin %0.03%0.07%0.08%0.05%0.05%0.01%0.06%0.08%0.02%0.05%
Operating Income Growth %0.32%1.83%0.23%-0.44%-0.08%-0.74%3.48%0.67%-0.8%1.74%
EBITDA+213.74M353.93M387.2M344.7M329.5M194.22M253.32M344.31M203.05M266.17M
EBITDA Margin %0.1%0.14%0.15%0.15%0.15%0.09%0.11%0.14%0.09%0.11%
EBITDA Growth %0.42%0.66%0.09%-0.11%-0.04%-0.41%0.3%0.36%-0.41%0.31%
D&A (Non-Cash Add-back)152.4M180.48M174.44M225.73M219.87M166.13M127.33M133.91M160.73M150.13M
EBIT68.73M143.01M193.86M122.95M116.41M26.88M115.53M228.38M48.42M131.46M
Net Interest Income+-59.75M-76.01M-53.9M-75.76M-82.09M-73.16M-45.48M-45.52M-48.12M-47.52M
Interest Income0000000000
Interest Expense59.75M76.01M53.9M75.76M82.09M73.16M45.48M45.52M48.12M47.52M
Other Income/Expense-52.37M-106.45M-72.8M-71.79M-75.3M-74.37M-55.94M-27.55M-42.02M-32.09M
Pretax Income+8.98M67M139.96M47.19M34.33M-46.28M70.05M182.86M297K83.95M
Pretax Margin %0%0.03%0.05%0.02%0.02%-0.02%0.03%0.07%0%0.03%
Income Tax+34.59M31.43M15.23M-88.21M2.4M-29.89M15.64M88.28M19.02M27.65M
Effective Tax Rate %-2.88%0.52%0.89%3.68%1.2%-3.84%0.78%0.52%-63.02%0.67%
Net Income+-25.88M34.86M124.21M173.58M41.3M177.53M54.41M94.58M-18.72M56.3M
Net Margin %-0.01%0.01%0.05%0.08%0.02%0.08%0.02%0.04%-0.01%0.02%
Net Income Growth %-2.76%2.35%2.56%0.4%-0.76%3.3%-0.69%0.74%-1.2%4.01%
Net Income (Continuing)-25.62M35.58M124.73M135.39M31.92M-16.39M54.41M94.58M-18.72M56.3M
Discontinued Operations00038.19M9.38M193.92M0000
Minority Interest7.56M8.28M00000000
EPS (Diluted)+-0.280.341.041.300.39-0.560.500.91-0.180.54
EPS Growth %-2.56%2.21%2.06%0.25%-0.7%-2.44%1.89%0.82%-1.2%4%
EPS (Basic)-0.280.351.221.300.39-0.560.510.93-0.180.55
Diluted Shares Outstanding92.67M101.48M132.48M134.04M106.33M106.37M108.15M103.87M102.74M103.83M
Basic Shares Outstanding92.44M100.1M101.58M134.04M105.19M106.37M106.31M102.07M102.74M101.78M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Jan 2022Jan 2023Jan 2024Dec 2024
Total Current Assets+1.02B1.01B1.22B1.21B1.34B1.25B1.41B1.49B1.43B1.61B
Cash & Short-Term Investments262.63M256.28M409.33M256.36M400.15M451.56M537.68M402.75M450.21M503.93M
Cash Only262.63M256.28M409.33M256.36M400.15M451.56M537.68M402.75M450.21M503.93M
Short-Term Investments0000000000
Accounts Receivable456M432.79M483.9M810.91M758.2M654.36M711.21M878.25M712.34M829.99M
Days Sales Outstanding79.4362.3566.44132.27129.73113.45115.44128.48116.46124.02
Inventory268.92M269.21M294.59M109.38M122.02M115.65M127.61M170.64M213.07M224.99M
Days Inventory Outstanding54.9846.5848.2421.7625.3624.1724.8230.5742.7541.78
Other Current Assets3.53M00038.97M00054.06M47.83M
Total Non-Current Assets+1.65B1.49B1.56B2.25B2.22B1.65B1.62B1.83B1.89B1.87B
Property, Plant & Equipment1.1B966.64M1.06B1.05B1.05B674.77M686.56M743.07M893.95M948.21M
Fixed Asset Turnover1.90x2.62x2.52x2.13x2.04x3.12x3.28x3.36x2.50x2.58x
Goodwill346.99M372.61M372.57M767.04M774.79M637.32M637.32M760.44M702.74M670.13M
Intangible Assets150.87M126.61M102.95M375.92M332.01M281.31M239.92M288.04M236.71M191.82M
Long-Term Investments000000001.48M1.3M
Other Non-Current Assets47.85M21.38M28.21M55.6M64.36M53.78M54.34M39.01M59.1M54.29M
Total Assets+2.67B2.5B2.78B3.46B3.56B2.9B3.03B3.32B3.32B3.47B
Asset Turnover0.78x1.01x0.96x0.65x0.60x0.73x0.74x0.75x0.67x0.70x
Asset Growth %0.67%-0.06%0.11%0.24%0.03%-0.19%0.04%0.1%0%0.04%
Total Current Liabilities+744.99M689.07M720.36M673.21M946.67M518.05M558.15M761.33M703.98M809.05M
Accounts Payable377.22M371.61M438.99M431.29M329.87M327.1M361.48M361.79M334.61M406.22M
Days Payables Outstanding77.1264.2971.8885.7868.5668.3770.364.8267.1375.44
Short-Term Debt157.38M110.65M4.58M30M249.97M04.29M50M3.5M3.79M
Deferred Revenue (Current)-1000K-1000K01000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities14.25M12.43M21.99M102.41M257.73M71.69M74.51M71.07M126.91M61.87M
Current Ratio1.37x1.47x1.70x1.79x1.42x2.41x2.52x1.96x2.03x1.99x
Quick Ratio1.01x1.08x1.29x1.63x1.29x2.19x2.29x1.74x1.73x1.71x
Cash Conversion Cycle57.2944.6442.7968.2486.5369.2569.9594.2392.0890.36
Total Non-Current Liabilities+1.1B981.89M1.05B1.56B1.34B933.89M1.01B1.03B1.11B1.1B
Long-Term Debt1.01B909.03M975.48M1.46B1.23B842.85M927.82M879.41M914.34M914.36M
Capital Lease Obligations001.92M015.41M17.21M29.57M25.83M93.58M89.49M
Deferred Tax Liabilities0029.03M025.43M23.7M28.36M54.27M44.24M41.36M
Other Non-Current Liabilities55.06M72.86M72.75M94.78M93.86M50.12M26.23M28.45M26.66M54.4M
Total Liabilities1.84B1.67B1.77B2.23B2.28B1.45B1.57B1.79B1.81B1.91B
Total Debt+1.2B1.02B980.06M1.49B1.49B868.21M964.45M962.6M1.02B1.02B
Net Debt939.33M763.4M570.73M1.24B1.09B416.64M426.77M559.85M569.65M511.27M
Debt / Equity1.44x1.22x0.97x1.22x1.17x0.60x0.66x0.63x0.67x0.65x
Debt / EBITDA5.62x2.88x2.53x4.33x4.53x4.47x3.81x2.80x5.02x3.81x
Net Debt / EBITDA4.39x2.16x1.47x3.59x3.32x2.15x1.68x1.63x2.81x1.92x
Interest Coverage1.03x2.28x3.95x1.57x1.34x0.38x2.77x4.62x0.88x2.44x
Total Equity+834.23M837.4M1.01B1.23B1.28B1.44B1.46B1.54B1.51B1.56B
Equity Growth %0.17%0%0.21%0.21%0.04%0.13%0.01%0.06%-0.02%0.03%
Book Value per Share9.008.257.639.1512.0313.5813.4614.7814.7115.06
Total Shareholders' Equity826.67M829.13M1.01B1.23B1.28B1.44B1.46B1.54B1.51B1.56B
Common Stock99K100K102K104K106K107K108K110K111K113K
Retained Earnings45.96M74.79M193.34M433.01M474.31M651.84M706.26M800.84M782.12M838.42M
Treasury Stock000000-63.81M-98.66M-123.09M-157.57M
Accumulated OCI27.43M-12.48M40.91M-3.92M-10.09M-38.91M-27.25M-24.79M-29.07M-27.88M
Minority Interest7.56M8.28M00000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Jan 2022Jan 2023Jan 2024Dec 2024
Cash from Operations+237.46M298.34M332.75M273.14M311.94M287.18M176.63M272.87M187.28M236.89M
Operating CF Margin %0.11%0.12%0.13%0.12%0.15%0.14%0.08%0.11%0.08%0.1%
Operating CF Growth %0.83%0.26%0.12%-0.18%0.14%-0.08%-0.38%0.54%-0.31%0.26%
Net Income-25.62M35.58M124.73M173.58M41.3M177.53M54.41M94.58M-18.72M56.3M
Depreciation & Amortization152.4M180.48M174.44M225.73M219.87M166.13M127.33M133.91M160.73M150.13M
Stock-Based Compensation9.66M11.09M18.29M20.68M16.82M16.07M17.71M19.52M22.89M29.78M
Deferred Taxes23.89M900K-9.19M-98.29M-12.45M6.65M9.74M61.3M-11.35M-1.72M
Other Non-Cash Items622K65.53M21.72M10.9M12.12M-148.63M7.68M-54.83M45.67M32.74M
Working Capital Changes76.51M4.76M2.77M-59.47M34.28M69.42M-40.25M18.39M-11.94M-30.33M
Change in Receivables66.06M23.21M-51.12M1.37M19.5M122.55M-5.24M-20.2M92.53M-124.39M
Change in Inventory8.48M-289K-25.38M18.25M-12.64M1.38M-11.96M-4.41M-45.39M-11.91M
Change in Payables-31.92M-7.8M54.6M-45.74M42.05M1.21M40.95M-14.8M-34.58M49.72M
Cash from Investing+-247.66M-77.97M-124.09M-746.19M-135.97M404.29M-84.14M-395.46M-92.03M-146.21M
Capital Expenditures-99.92M-85.14M-151.34M-150.13M-142.58M-103.29M-81.95M-102.88M-160.24M-185.74M
CapEx % of Revenue0.05%0.03%0.06%0.07%0.07%0.05%0.04%0.04%0.07%0.08%
Acquisitions----------
Investments----------
Other Investing21.43M176.33M27.25M331K0115K996K5.76M-101K39.53M
Cash from Financing+-5.76M-217.11M-58.98M321.06M-31.81M-642.31M-7.23M-11.31M-47.67M-36.82M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-66.89M516K-20.09M-8.96M-1.8M7.48M-16.67M24.11M-16.49M-1.16M
Net Change in Cash----------
Free Cash Flow+137.54M213.2M181.41M123.01M169.36M183.89M94.68M169.99M27.04M51.16M
FCF Margin %0.07%0.08%0.07%0.05%0.08%0.09%0.04%0.07%0.01%0.02%
FCF Growth %5.81%0.55%-0.15%-0.32%0.38%0.09%-0.49%0.8%-0.84%0.89%
FCF per Share1.482.101.370.921.591.730.881.640.260.49
FCF Conversion (FCF/Net Income)-9.17x8.56x2.68x1.57x7.55x1.62x3.25x2.89x-10.01x4.21x
Interest Paid34.05M72.04M39.06M62.97M71.27M59.21M00048.99M
Taxes Paid14.49M25.12M20.07M27.57M20.12M18.08M5.21M4.57M53.75M18.77M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-3.34%4.17%13.44%15.51%3.3%13.04%3.75%6.32%-1.23%3.66%
Return on Invested Capital (ROIC)3.39%7.71%10.03%4.41%3.4%1%5.05%7.93%1.52%4.19%
Gross Margin14.8%16.72%16.16%17.99%17.68%17.05%16.54%18.36%18.51%19.54%
Net Margin-1.24%1.38%4.67%7.76%1.94%8.43%2.42%3.79%-0.84%2.3%
Debt / Equity1.44x1.22x0.97x1.22x1.17x0.60x0.66x0.63x0.67x0.65x
Interest Coverage1.03x2.28x3.95x1.57x1.34x0.38x2.77x4.62x0.88x2.44x
FCF Conversion-9.17x8.56x2.68x1.57x7.55x1.62x3.25x2.89x-10.01x4.21x
Revenue Growth58.06%20.9%4.94%-15.83%-4.67%-1.31%6.81%10.95%-10.52%9.41%

Revenue by Segment

2015201620172018201920202021202220232024
Aerospace And Defense-----745.88M728M862.37M1B1.13B
Aerospace And Defense Growth-------2.40%18.46%16.53%12.21%
Data Center Computing-----259.04M323.99M378.15M318.82M502.88M
Data Center Computing Growth------25.07%16.72%-15.69%57.73%
Medical Industrial Instrumentation-----387.69M421.41M491.8M369.06M336.08M
Medical Industrial Instrumentation Growth------8.70%16.70%-24.96%-8.93%
Automotive Components-----318.86M410.7M428.02M359.45M315.92M
Automotive Components Growth------28.81%4.22%-16.02%-12.11%
Networking Communication-----370.58M346.63M331.32M180.35M160.34M
Networking Communication Growth-------6.46%-4.42%-45.57%-11.10%
Printed Circuit Board1.94B2.35B2.46B51.66M67.84M-----
Printed Circuit Board Growth-20.70%4.90%-97.90%31.33%-----
Electronic Manufacturing Solutions158.66M198.48M210.09M-179K-619K-----
Electronic Manufacturing Solutions Growth-25.10%5.85%-100.09%-245.81%-----

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES960.15M1.12B850.51M1.26B1.39B1.09B1.05B1.22B1.26B1.23B
UNITED STATES Growth-16.55%-24.00%48.23%10.61%-22.09%-3.39%16.65%3.16%-2.44%
Other Than United States And China---1.04B742.98M684.42M871.72M996.4M805.22M936.12M
Other Than United States And China Growth-----28.40%-7.88%27.37%14.30%-19.19%16.26%
CHINA548M646.84M957.3M548.85M551.86M334.46M327.44M274.31M164.28M274.35M
CHINA Growth-18.04%47.99%-42.67%0.55%-39.39%-2.10%-16.22%-40.11%67.00%

Frequently Asked Questions

Valuation & Price

TTM Technologies, Inc. (TTMI) has a price-to-earnings (P/E) ratio of 144.2x. This suggests investors expect higher future growth.

Growth & Financials

TTM Technologies, Inc. (TTMI) reported $2.78B in revenue for fiscal year 2024. This represents a 95% increase from $1.43B in 2011.

TTM Technologies, Inc. (TTMI) grew revenue by 9.4% over the past year. This is steady growth.

Yes, TTM Technologies, Inc. (TTMI) is profitable, generating $131.9M in net income for fiscal year 2024 (2.3% net margin).

Dividend & Returns

TTM Technologies, Inc. (TTMI) has a return on equity (ROE) of 3.7%. This is below average, suggesting room for improvement.

TTM Technologies, Inc. (TTMI) generated $35.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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