TTM Technologies (TTMI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

TTM Technologies

NasdaqGS•Technology•Electronic Components

$88.61+8.50(0.11%)Market open

Market Cap

$9.26B

P/E

34.5x

P/S

2.4x

P/B

4.5x

TTM Technologies, Inc. manufactures and sells mission systems, radio frequency (RF) components, RF microwave/microelectronic assemblies, and printed circuit boards (PCBs) and substrates in the United States, Taiwan, and internationally. It operates in three segments, A&D, Commercial, and RF&S Components. The company offers various engineered systems and RF and microwave assemblies; PCBs and IC substrates, custom assemblies and integrated systems, passive and advanced ceramic RF components, hi-reliability multi-chip modules, and beamforming and switching networks; and design-for-manufacturability, PCB layout design, simulation and testing, quick turnaround (QTA) production, and specialized RF assembly and testing. It also provides multi-mode surveillance and weather avoidance radar systems for fixed- and rotary-wing aircraft, Unmanned Aerial Vehicles, and shipboard platforms; AN/APS-153 multi-mode radar; communications suite within the MH-60R/S multi-mission helicopters; and supports maritime surveillance, counter UAS, and advanced air mobility end markets under MOSAIC brand. In addition, the company offers identification friend; monopulse secondary surveillance radars, and air traffic control systems; wired and wireless communication systems; designs, produces, and tests specialized multi-chip RF modules and components; and manufactures off-the-shelf surface mount microwave components. Further, it provides thick-film ceramic substrates, custom designed application specific integrated circuits, and conventional PCBs; custom electronic assemblies; QTA services; and thermal management. The company serves original equipment manufacturers, electronic manufacturing services providers, original design manufacturers, distributors, and government agencies; and aerospace and defense, data center computing, automotive, medical, industrial, instrumentation, and networking markets. TTM Technologies, Inc. was incorporated in 1978 and is headquartered in Santa Ana, California.

How this company scores

GoodMetricSide Score: 68/100

Strongest: Growth (23/25); weakest: Cash & Earnings Quality (9/25).

Profitability20/25

Growth23/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality9/25

Strengths

Growing revenueRising earningsInterest easily coveredConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 34.5x5y range 6.9x – 82.3x

Currently above its 16-quarter median.

P/S · 2.4x5y range 0.5x – 5.8x

Currently above its 20-quarter median.

P/B · 4.5x5y range 0.8x – 10.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

Debt-to-equity has risen 33.2% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $9.26B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.83B
Q. Revenue: $1.20B
TTM EBITDA: $584.26M
TTM Op. Income: $424.51M
Q. Op. Income: $162.25M
TTM Net Income: $268.52M
Q. Net Income: $84.80M
EPS: $0.8
Shares Out.: $105.67M

$3.83B in TTM revenue grew 39.3% YoY, reaching $1.20B last quarter. TTM EBITDA of $584.26M and TTM operating income of $424.51M show growth is flowing through to the bottom line. TTM net income of $268.52M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 24.2%
EBITDA Margin: 17.1%
Op. Margin: 13.5%
Net Margin: 7.0%

Op. margin of 13.5% is up 3.9% YoY — cost efficiency is improving. Net margin at 7.0% and gross margin of 24.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 34.5x
P/S Ratio: 2.4x
P/B Ratio: 4.5x

At 34.5x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.4x and P/B of 4.5x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 18% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.56B
Cash: $876.35M
Long-Term Debt: $1.46B
Book Value: $2.04B
D/E Ratio: 0.7
Debt/EBITDA: 7.1

With $5.56B in assets and $1.46B in long-term debt, D/E is 0.7and book value is $2.04B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $154.71M
TTM Free Cash Flow: $14.79M
FCF Margin: 0.4%
FCF / Net Income: 0.1

TTM FCF of $14.79M on $154.71M in operating cash flow. The FCF / Net Income ratio of 0.1x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 51% — an improving trend.