Feed / TTMI

TTM Technologies, Inc.

TTMI

Technology · 122.31 -1.6% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

TTM Technologies, Inc.'s current read is isolated; its market group is not confirming.

The latest filing is mixed. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

What changed
  • Revenue increased 30.4% versus the comparable filing period.
  • Operating cash flow covered only 0.43x net income.
Company-1.6% todayVolume comparison unavailable
Market group0 of 12 activeIndustrial-Tech Mix · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • Operating expenses increased $28.0M to $108.7M in Q1 2026, primarily due to higher stock-based compensation, labor costs, and incentive compensation.

Invalidation: The isolated read changes if TTMI's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Electronic Components

The latest filing is mixed. 0 of 12 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 30.4% versus the comparable filing period.
  • Operating margin improved 0.8 percentage points.
  • Net income increased 55.3% versus the comparable filing period.
Evidence that challenges
  • Operating cash flow covered only 0.43x net income.
What would clarify the read
  • Operating expenses increased $28.0M to $108.7M in Q1 2026, primarily due to higher stock-based compensation, labor costs, and incentive compensation.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements89
Verified relationships9
Evidence supporting the case
  • Latest annual revenue changed +19.0% year over year.
  • Operating margin changed +4.4 percentage points in the latest annual period.
  • Net margin changed +3.8 percentage points in the latest annual period.
  • Data center and AI demand has repeated favorable evidence across 4 filings.
  • Demand and volume has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 355% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 20% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

122.31
6m+28.2%12m+157.0%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-01-03$2.2B+6.8%$0.50+1.7%
2023-01-02$2.5B+11.0%$0.91-4.0%
2024-01-01$2.2B-10.5%$-0.18-1.1%
2024-12-30$2.4B+9.4%$0.54+1.3%
2025-12-29$2.9B+19.0%$1.68+1.3%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 4 filings
Net cash used in financing activities during the first quarter of 2025 was $18.8 million, reflecting the use of $17.9 million for repurchases of common stock and $0.9 million for the repayment of long-term debt borrowings.
10-Q · May 1, 2026
Data center and AI demandpositive · 4 filings
The primary driver of this increase was strong demand in our data center and networking end market driven by the continued buildout of AI data centers and related applications, as well as strong sales performance in our medical, industrial, and instrumentatio…
10-Q · May 1, 2026
Demand and volumepositive · 4 filings
The primary driver of this increase was strong demand in our data center and networking end market driven by the continued buildout of AI data centers and related applications, as well as strong sales performance in our medical, industrial, and instrumentatio…
10-Q · May 1, 2026
Foreign exchangemixed · 4 filings
Total Other Expense, Net Total other expense, net increased $4.7 million to $13.9 million for the quarter ended March 30, 2026, from $9.3 million for the quarter ended March 31, 2025, primarily due to a higher amount of foreign exchange losses during the quar…
10-Q · May 1, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 4.4× · EV/sales 4.6×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

122.31-1.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for TTMI. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

The latest filing presents a mixed picture

10-Q filed 2026-05-01 against the comparable filing from 2025-05-06.

mixed
OperationsconstructiveEvidence score +4
liquiditycautiousEvidence score -1
valuationmixed

What improved

  • Revenue increased 30.4% versus the comparable filing period.
  • Operating margin improved 0.8 percentage points.
  • Net income increased 55.3% versus the comparable filing period.

What weakened

  • Operating cash flow covered only 0.43x net income.

Filing receipts

These increases were primarily due to higher sales volume, favorable product mix, and improved operational execution, partially offset by continued ramp-up costs in connection with our fabrication plant in Penang, Malaysia.

The primary driver of this increase was due to continued strong demand in our data center and networking end market driven by the continued build out of AI data centers and related applications, as well as strong growth in our medical, industrial, and instrumentation and aerospace and defense end markets.

The primary driver of this increase was strong demand in our data center and networking end market driven by the continued buildout of AI data centers and related applications, as well as strong sales performance in our medical, industrial, and instrumentation end market.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind TTMI

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

JPMJPMorgan Chase & Co.lenderFeb 17, 2026

Term Loan Facility On August 1, 2024, the Company entered into the Term Loan Facility, by and among the Company, as Borrower, JPMorgan Chase Bank, N.A., as Administrative Agent, and the several lenders from time to time parties thereto, pursuant to which the…

AMDAdvanced Micro Devices, Inc.competitorFeb 17, 2026

Our principal competitors for our RF&S Components segment include Advanced Micro Devices, Inc., IDT Corporation, MACOM Technology Solutions Holdings, Inc., Microchip Technology Incorporated, Qorvo, Inc., and Silicon Laboratories Inc.

DRSLeonardo DRS, Inc.competitorFeb 17, 2026

Our principal competitors for our A&D segment include BAE Systems plc, Curtiss-Wright Corporation, Leonardo DRS, Inc., Mercury Systems, Inc., and Sanmina Corporation.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 13 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

TTMI is currently a Participant in the organic co-movement group Industrial-Tech Mix. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for TTMI; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.