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TTMITTM Technologies, Inc.
$127.47$13.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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TTMI logo

TTM Technologies, Inc.

TTMI
NASDAQ · Tech Hardware & Equipment
$127.47
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$13.24B
P/E75.9x
52W High$223.83
Volume2.83M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Accelerating Defense Growth Offsets Cash Flow Volatility

TTMI's accelerating revenue growth, driven by defense and AI data center demand, has expanded gross margins to 21.1% and operating income by 538% since 2024Q1, yet cumulative FCF of only $15.4M over the trailing four quarters and elevated capex at 12.6% of rev...

GrowthAccelerating
ProfitabilityStrong
ValuationExpensive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

TTMI price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

+53% Peers

P/E is 53% above peer median

03

Market leadership

RS 67 · Avg

Average momentum (RS Rating: 67)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 37.4% YoY in 2026Q2 with gross margin expanding to 21.1% and net margin reaching 8.3%, reflecting strong operating leverage from defense and AI mix.

Analyst Consensus+64.2% target
Buy(14 analysts)
12 Buy2 Hold0 Sell

The Bull Case

Upside Catalysts

Leading PCB manufacturer

TTM Technologies is a top-five global PCB manufacturer and the largest in North America, with strong positioning in advanced technology solutions.

Military supply dominance

As the largest supplier of PCBs to the U.S. military, TTM benefits from stable defense contracts and mission-critical applications.

Legislative protection advantage

The company is shielded by favorable legislation, enhancing its competitive edge and supporting long-term growth in strategic markets.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
TTMI+80.53%
S&P 500 (^GSPC)+13.20%
1-Year Return
TTMI+135.01%
S&P 500 (^GSPC)+15.98%
3-Year Return
TTMI+914.89%
S&P 500 (^GSPC)+89.61%
5-Year Return
TTMI+930.48%
S&P 500 (^GSPC)+86.11%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
75.9x
Forward P/EExpansion
26.3x
EV/EBITDA100th %ile
33.9x
FCF YieldCash Flow
N/A

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
75.9x
42.4x
100th· High
EV/EBITDA
33.9x
10.8x
100th· High
Price/FCF
N/A
50.1x
N/A
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$3.89-96.9%
Base (Fair)$105.55-10.5%
Bull$17.18-86.5%
$3.89 Bear$105.55 Base$17.18 Bull
Current Market Price: $127.47
Trades at a 20.8% premium to Base DCF ($105.55)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.91B+19.0% YoY
Net income
$177M+215.2% YoY
Free cash flow
-$683K-101.3% YoY
Operating margin
9%+4.3 pts YoY
ROIC (TTM)8.8%
Avg ROIC 5Y-
ROE (TTM)10.7%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$0.99+10.7%
vs $0.89
$1.0B+4.4%
vs $962M
Q2 2026
Apr 29, 2026
$0.75+13.6%
vs $0.66
$846M+7.1%
vs $790M
Q1 2026
Feb 4, 2026
$0.70+2.9%
vs $0.68
$774M+2.8%
vs $753M
Q4 2025
Oct 29, 2025
$0.67+9.8%
vs $0.61
$753M-0.0%
vs $753M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 15, 2026
TTM Technologies, Inc. to Exhibit at electronica India 2026 Trade Fair in Bangalore, Showcasing Leading Advanced Interconnect Solutions and Integrated Systems

SANTA ANA, Calif., Sept. 15, 2026 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) ("TTM"), a leading global manufacturer of technology products, including mission systems, radio frequency ("RF") components, RF microwave/microelectronic assemblies, and technologically advanced interconnect products, including printed circuit boards ("PCB" s) and substrates, will exhibit at the electronica India 2026 trade fair, at Hall 3, Booth B11, from September 16–18, 2026, at the Bangalore International Exhibition Centre, Bangalore, India.

Seeking Alpha·Sep 15, 2026
6 Top Stocks With Strong Earnings Growth Trading Well Below 52-Week Highs

Fear is driving the market, not fundamentals. The recent selloff comes despite strong profitable growth and rising earnings expectations as stock valuations grow more attractive. The S&P 500 forward P/E is now below its five-year average, and earnings are expected to climb by more than 25% for the third straight quarter. For high-quality growth stocks, rate-driven valuation compression can create opportunity when prices decline while fundamentals remain intact.

GuruFocus·Sep 14, 2026
A Look at TTM Technologies Inc (TTMI) After 10.4% Decline -- GF Value $37.94 vs Price $113.25

On September 14, 2026, TTM Technologies Inc (TTMI) shares fell 10.4% to $113.25, marking a significant downturn amidst a volatile trading environment. Over the

Zacks Investment Research·Sep 14, 2026
TTM Technologies' N+M Technology Ramps Up: Can Revenue Soar?

TTMI sees N+M scaling into a $600 million business in the second half as AI data-center demand and improving yields support growth.

Filtered for TTM Technologies, Inc.More Headlines
04

Compare before deciding

Benchmark TTMI against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for TTM Technologies, Inc. (TTMI)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
TTMI logoTTMITTM Technologies, Inc.Current
$127.47$13.24B75.8818.98%6.11%10.67%—
AWI logoAWIArmstrong World Industries, Inc.
$163.81$6.92B23.1412.11%18.6%35.36%—
VECO logoVECOVeeco Instruments Inc.
$44.36$2.71B75.19-7.39%3.4%2.62%—
DDI logoDDIDoubleDown Interactive Co., Ltd.
$13.10$649.15M6.335.51%32.9%12.93%—
APH logoAPHAmphenol Corporation
$82.84$204.28B49.6051.71%17.76%36.94%—
CTS logoCTSCTS Corporation
$58.95$1.68B26.925.16%12.36%12.52%—

Compare TTMI vs Peers

TTM Technologies, Inc. (TTMI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AWI

Most directly comparable listed peer for TTMI.

Scale Benchmark

vs AVGO

Larger-name benchmark to compare TTMI against a more recognizable public peer.

Peer Set

Compare Top 5

vs AWI, VECO, DDI, APH

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

TTMI SEC Filings & Documents

TTM Technologies, Inc. (TTMI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 17, 2026·SEC

Material company update

Aug 6, 2026·SEC

Material company update

Jun 18, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 17, 2026·SEC

FY 2025

Feb 21, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 5, 2026·SEC

FY 2026

May 1, 2026·SEC

FY 2025

Oct 31, 2025·SEC

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TTMI Frequently Asked Questions

TTM Technologies, Inc. (TTMI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is TTM Technologies, Inc.'s revenue?

TTM Technologies, Inc. (TTMI) reported $3.47B in revenue for fiscal year 2025. This represents a 3160% increase from $106.4M in 1999.

How fast is TTM Technologies, Inc. growing?

TTM Technologies, Inc. (TTMI) grew revenue by 19.0% over the past year. This is strong growth.

Is TTMI profitable?

Yes, TTM Technologies, Inc. (TTMI) is profitable, generating $233.7M in net income for fiscal year 2025 (6.1% net margin).

Dividend & Returns
What is TTMI's return on equity?

TTM Technologies, Inc. (TTMI) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.

What is TTM Technologies, Inc.'s free cash flow?

TTM Technologies, Inc. (TTMI) had negative free cash flow of $142.6M in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in TTMI back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →