TTMI
TTM Technologies, Inc.
TTMI's fundamentals are strong: revenue grew 38% and its operating margin rose 4 points to 11%, though free cash flow fell 59%. At 31x earnings, it's trading above its usual 27x. Analysts expect that strong growth to continue.
TTMI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Under pressure | |
| Healthy |
TTMI's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
TTMI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.8x | $76.28 | — |
| Cheap | 13x | $32.17 | -58% |
| Fair | 27x | $67.33 | -12% |
| Current | 31x | $76.28 | — |
| Expensive | 62x | $155 | +103% |
Historical ranges are pointers, not guarantees.
TTMI's PE is in its fair range at 31x. If earnings grow as analysts expect, today's price would be 9.8x next year's earnings, in its cheap range.
TTMI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for TTMI, with profitability improving.
TTMI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.79 | +211% |
| Q3 2026 | $2.50 | +98% |
| Q2 2026 | $2.21 | +146% |
| Q1 2026 | $1.84 | +145% |
| Q4 2025 | $1.68 | +211% |
| Q3 2025 | $1.26 | +91% |
| Q2 2025 | $0.90 | +463% |
| Q1 2025 | $0.75 | +$0.77 |
| Q4 2024 | $0.54 | +$0.72 |
TTMI's earnings per share have climbed steadily: $2.50 over the past year, up 98% from the year before, and higher year over year for nine quarters in a row.
TTMI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +60% |
| Q2 2026 | $1B | +37% |
| Q1 2026 | $846M | +30% |
| Q4 2025 | $774.3M | +19% |
| Q3 2025 | $752.7M | +22% |
| Q2 2025 | $730.6M | +21% |
| Q1 2025 | $648.7M | +14% |
| Q4 2024 | $651M | +14% |
TTMI's revenue has grown year over year for 11 quarters in a row: $1.2B last quarter, up 60% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +3.9 points |
| Q2 2026 | 11% | +2.4 points |
| Q1 2026 | 8.6% | +0.8 points |
| Q4 2025 | 10% | +9 points |
| Q3 2025 | 9.6% | +1.3 points |
| Q2 2025 | 8.4% | +2 points |
| Q1 2025 | 7.8% | +4.8 points |
| Q4 2024 | 1.4% | -4.7 points |
TTMI's operating margin was 13% last quarter, up 3.9 points from the same quarter a year ago, near the top of its range since 2019.
TTMI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $72.3M | +71% |
| Q2 2026 | $34.1M | -8.9% |
| Q1 2026 | -$85.1M | -$11.1M |
| Q4 2025 | -$6.5M | -122% |
| Q3 2025 | $42.4M | +75% |
| Q2 2025 | $37.4M | +1467% |
| Q1 2025 | -$74M | -$68.5M |
| Q4 2024 | $30M | +2052% |
TTMI still generates free cash flow, though less than at its 2020 peak: $15M over the past year.
TTMI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +116K shares |
| 1 year | +1.8% | +1.9M shares |
| 3 years | +4% | +4.2M shares |
| 5 years | -0.6% | -646K shares |
| Available history | +1.3% | +1.4M shares |
TTMI has 108M diluted shares, up 1.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $17.9M |
| Q4 2024 | — |
TTMI hasn't bought back shares in the past year.
TTMI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.0x | Very low |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.0x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.5x | Healthy |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 1.6x | Healthy |
TTMI's net debt is about 1.3 years of its operating earnings (EBITDA), about the same as a year ago.
TTMI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.7 | Neutral |
| Stochastic | 14.2 | Oversold |
TTMI's weekly RSI is 38 (neutral) and its Stochastic is 14 (oversold).
TTMI PE vs Technology Sector
| Metric | TTMI | Sector median | Relative |
|---|---|---|---|
| PE | 31x | 28x | 9.5% above |
| PE % | 59 | 35 | 24 pts above |
TTMI is trading at 31x earnings, in line with the Technology sector's median of 28x.
TTMI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $97.7 | 22% below |
| 20 week MA | $117.0 | 35% below |
| 50 week MA | $118.9 | 36% below |
| 100 week MA | $78.3 | 2.6% below |
| 200 week MA | $47.2 | 62% above |
TTMI has fallen below most of its moving averages, though it's still 62% above its 200-week average.
TTMI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.0 | $13.7 | -8.4% |
| 2021 | $13.7 | $14.5 | +5.6% |
| 2022 | $14.5 | $15.0 | +3.3% |
| 2023 | $15.0 | $15.8 | +5.7% |
| 2024 | $15.8 | $25.0 | +58% |
| 2025 | $25.0 | $71.7 | +186% |
| 2026 YTD | $71.7 | $76.3 | +6.4% |
TTMI has finished higher in five of the last six years, two of them by more than 50%. It's up 6.4% so far in 2026.