TTM Technologies Inc. Common Stock (TTMI)

FairStock Score: 37/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

TTM Technologies is a technology manufacturer of printed circuit boards, RF components, and microwave assemblies, with an aerospace and defense segment. I like turnarounds when the filed numbers prove the business has changed. The record shows a real swing: in fiscal 2023, the year ended 2024-01-01, revenue was $2.2B and net income was -$18.7M, with diluted EPS of -$0.18. By fiscal 2025, the year ended 2025-12-29, revenue reached $2.9B, net income $177.4M, and diluted EPS $1.68. In fiscal Q2 2026, the quarter ended 2026-06-29, revenue was $1.0B, net income $83.0M, and diluted EPS $0.77, compared with fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $730.6M, net income $41.5M, and diluted EPS $0.40. That is genuine progress. FairStock labels it a TURNAROUND, because it returned to profit after a loss within the last three years. But I ask what I am paying. At the 2026-10-13 close of $116.10, FairStock's P/E is 52.30, P/B 6.56, EV/EBITDA 27.85, and PEG 0.94. Its Graham Number is $30.28, leaving a margin of safety of -283.42%. ROCE is only 5.25%, ROE 13.26%, and trailing free cash flow is -$15.1M, for an FCF yield of -0.1%. Debt to equity is 0.57, beta 2.15, and Altman Z-Score 3.90. A moat, if any, lies in defense and RF qualifications and scale, but low returns on capital suggest pricing power is not obvious. The business is improving; the stock is priced for much more improvement. I would want evidence that free cash flow turns positive and ROCE rises before calling this a value proposition.

In plain English: TTM Technologies makes printed circuit boards and radio-frequency parts used in electronics, including aerospace and defense work. The company has moved from a loss in fiscal 2023 to profits in fiscal 2024 and fiscal 2025, and its latest quarter showed more sales and profit. At $116.10 on 2026-10-13, the price looks expensive compared with the company's profits, net assets, and cash generation, so it does not look like a bargain on the numbers shown.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-29) · fiscal Q1 2026 10-Q (period ended 2026-03-30) · fiscal Q3 2025 10-Q (period ended 2025-09-29) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-29) · FY2024 10-K (period ended 2024-12-30) · FY2023 10-K (period ended 2024-01-01)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer