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TTMI

TTM Technologies, Inc.

TTMI

TTM Technologies, Inc. • NASDAQ
$70.18 ▲ 2.77% (+1.89)
Market Cap $7.25 B
52w High $71.85
52w Low $15.77
Dividend Yield 0%
P/E 55.7
Volume 1.21M
Outstanding Shares 103.33M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $752.736M ▲ $84.83M ▼ $53.055M ▲ 7.048% ▲ $0.51 ▲ $106.681M ▲
Q2-2025 $730.621M ▲ $86.34M ▲ $41.53M ▲ 5.684% ▲ $0.41 ▲ $93.536M ▲
Q1-2025 $648.668M ▼ $80.712M ▼ $32.178M ▲ 4.961% ▲ $0.32 ▲ $88.542M ▲
Q4-2024 $650.965M ▲ $117.513M ▲ $5.17M ▼ 0.794% ▼ $0.051 ▼ $60.609M ▼
Q3-2024 $616.538M $78.926M $14.311M 2.321% $0.14 $73.901M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $491.12M ▲ $3.721B ▲ $2.019B ▲ $1.701B ▲
Q2-2025 $447.967M ▲ $3.578B ▲ $1.941B ▲ $1.637B ▲
Q1-2025 $411.26M ▼ $3.455B ▼ $1.868B ▼ $1.587B ▲
Q4-2024 $503.932M ▲ $3.472B ▲ $1.909B ▲ $1.564B ▲
Q3-2024 $469.5M $3.419B $1.872B $1.547B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $53.055M ▲ $141.803M ▲ $-99.233M ▼ $550K ▲ $43.153M ▲ $42.353M ▲
Q2-2025 $41.53M ▲ $97.804M ▲ $-60.234M ▲ $-948K ▲ $36.707M ▲ $37.396M ▲
Q1-2025 $32.178M ▲ $-10.655M ▼ $-63.22M ▼ $-18.822M ▼ $-92.672M ▼ $-73.973M ▼
Q4-2024 $5.17M ▼ $86.054M ▲ $-52.761M ▼ $1.396M ▲ $34.432M ▲ $30.024M ▲
Q3-2024 $14.311M $65.09M $-40.935M $-1.113M $23.253M $24.192M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Automotive Components
Automotive Components
 $70.00M ▲$70.00M ▲$80.00M ▲$80.00M ▲
Data Center Computing
Data Center Computing
 $140.00M ▲$140.00M ▲$150.00M ▲$180.00M ▲
Medical Industrial Instrumentation
Medical Industrial Instrumentation
 $80.00M ▲$80.00M ▲$110.00M ▲$110.00M ▲
Networking Communication
Networking Communication
 $50.00M ▲$50.00M ▲$60.00M ▲$60.00M ▲
Aerospace And Defense
Aerospace And Defense
 $310.00M ▲$310.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has trended upward over the last few years, with a small dip in the middle of the period and a solid rebound more recently. Profitability has improved, with operating earnings recovering after a weak year and margins moving in the right direction. Net income has been positive in most years, though it has been somewhat volatile, showing that results are sensitive to demand cycles and mix of business. Overall, the income statement points to a company that is growing gradually, improving efficiency, but still exposed to swings in end markets and utilization of its factories.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and steady. Total assets have grown over time, reflecting ongoing investment in the business, while shareholder equity has also edged up, suggesting retained value creation rather than aggressive financial engineering. Debt levels have been fairly stable and appear manageable relative to the size of the company, indicating a moderate, not excessive, use of leverage. Cash holdings are healthy but not excessive, implying a reasonable liquidity buffer while still keeping capital working in the business.

Cash Flow

Cash Flow TTM has consistently generated positive cash from its core operations, showing that reported earnings are backed by real cash generation. Free cash flow has remained positive but has tightened in recent years because the company is spending more on new plants, automation, and advanced capabilities. Capital spending is clearly elevated, which is a double-edged sword: it supports future growth and competitiveness but compresses near-term free cash flow and reduces financial flexibility if conditions worsen. Overall, cash flow quality looks sound, but the business is in an investment-heavy phase that investors should monitor for execution and payback.

Competitive Edge

Competitive Edge TTM occupies a strong niche in complex, high-reliability printed circuit boards and RF components, especially for aerospace and defense customers. It benefits from deep engineering relationships, long qualification cycles, and demanding quality and security requirements, all of which make it hard for customers to switch to rivals. Scale, global manufacturing, and the ability to support customers from design through volume production further strengthen its position. At the same time, the company still operates in a cyclical, capital-intensive industry with capable global competitors, so its edge is meaningful but not unassailable.

Innovation and R&D

Innovation and R&D The company is clearly leaning into higher-value technologies: advanced high-density boards, RF and microwave solutions, and flexible and ultra-miniaturized designs. It is investing heavily in automated, modern factories in Malaysia and New York, aiming to improve efficiency and support demanding applications, particularly in defense and high-performance computing. TTM’s R&D and capital plans are aligned with major long-term themes such as data-center growth, generative AI hardware, vehicle electrification, and advanced communications. The main risk is execution: these investments must ramp smoothly, fill with high-margin work, and keep pace with fast-moving technology requirements.

Summary

TTM Technologies looks like a mature industrial technology company shifting its portfolio toward higher-margin, more defensible end markets. Financially, it shows steady revenue, improving margins, and reliable operating cash flow, but with some earnings volatility and a noticeable step-up in capital spending. The balance sheet appears sound, giving it room to invest, though the capital intensity of its strategy raises the importance of disciplined project execution. Competitively, its focus on complex, mission-critical PCBs and RF solutions, especially for aerospace, defense, and other high-reliability uses, provides meaningful barriers to entry. The key things to watch are margin trends, utilization of new facilities, demand from data-center and defense customers, and the company’s ability to turn heavy current investment into durable, higher-quality earnings over time.

NEWS

November 26, 2025 · 5:00 PM UTC

TTM Technologies, Inc. Announces Upcoming Conference Participation

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October 31, 2025 · 3:30 PM UTC

TTM Technologies, Inc. Receives Two Awards from the Global Electronics Association at the 2025 IPC CEMAC Conference, with Team Members Receiving Asia Steering Committee Outstanding Service Awards

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October 29, 2025 · 4:01 PM UTC

TTM Technologies, Inc. Reports Third Quarter 2025 Results

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October 14, 2025 · 8:30 AM UTC

TTM Technologies, Inc. to Conduct Third Quarter 2025 Conference Call on October 29, 2025

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September 19, 2025 · 8:00 AM UTC

TTM Technologies, Inc. Expands Ultra Small Radio Frequency Components Offering for Telecom, Test and Measurement, and COTS Mil-Aero Applications

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