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TTM Technologies Inc (TTMI) Fair Value & Analysis

Technology · US · Market cap $13.7B · ISIN US87305R1095

What is TTM Technologies Inc really worth?

TT TTM Technologies Inc logo TTM Technologies Inc TTMI · US
Price$115.39
Fair Value$35.03
Upside−69.6%
Quality57/100

A solid business, but trading 229% above our fair value of $35.03.

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Risks

!Expensive Growth (revenue 5y +6.7 %/yr)
!Thin margins · 6.3% net margin
!Moderate debt · negative free cash flow
!Mixed vs. peers (7/13)
!Moderate moat 45/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range $24.52 – $45.53

Fair value as of: Aug 31, 2026

From 17 valuation models · updated 5 days ago

Share price −13.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($45.53). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($24.52 to $45.53) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$221.47 $11.21 Fair Value $35.03 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range $11.21 – $221.47 · fair‑value band $24.52 – $45.53 · the $115.39 price screens above the $35.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

TTM Technologies Inc (TTMI) currently trades at $115.39, while our model-based Fair Value estimate is $35.03, implying the stock looks roughly 229.4% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $35.03 per share, and 0 of the 17 models we run sit above the $115.39 price. Bear case: the Asset-Based group reads lowest at $11.37, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, TTM Technologies Inc generated revenue of $3.1B at a net margin of 6.3%. Revenue grew 30.4% year over year. It earns a return on equity of 11.4%. Net debt stands at $616M. Fundamentals as of Aug 31, 2026

Our scenario range runs from $24.52 (bear case) to $45.53 (bull case); at $115.39, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 43% below its 52-week high and 243% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −70%, TTMI screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $1.24 per share, which is 3.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($0.0900 to $66.90). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
EPV $17.02 $20.52 $23.58 74
Residual Income $14.87 $16.62 $29.90 74
Owner Earnings $2.52 $6.97 73
All 17 models by family
DCF Models
Owner Earnings $2.52 $6.97 73
Earnings-Based
Graham-Dodd $11.62 $47.11 $64.11 64
Lynch FV $11.78 $16.83 $21.88 61
PEG = 1.0 $11.78 $16.83 $21.88 57
EPV $17.02 $20.52 $23.58 74
Dividend Discount
Gordon GGM $0.0500 $0.1100 $0.1700 66
DDM Multi-Stage $0.0500 $0.0900 $0.1100 67
Multiples
P/E Multiple $35.88 $47.84 $59.80 63
P/S Multiple $21.79 $29.05 $36.31 58
P/B Multiple $21.79 $29.05 $36.31 55
EV/EBIT $41.39 $56.51 $71.63 66
EV/EBITDA $49.19 $66.90 $84.62 67
EV/Revenue $18.97 $28.80 $38.62 53
Asset-Based
NCAV (Graham) $8.48 $11.37 $16.97 54
Economic Profit
Residual Income $14.87 $16.62 $29.90 74
ROIC Compounder $17.04 $23.75 $33.09 71
Growth Earnings
Growth-Adj P/E $24.52 $35.03 $45.53 67

Widest divergence: Growth Earnings ($35.03) versus Dividend Discount ($0.0900). Highest evidence: EPV (74).

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Key figures & financial health

P/E ratio 62.4
P/S ratio 3.81 P/E × margin
EPS (TTM) $1.83 price ÷ EPS = P/E 62.4
Net margin 6.1% FY2025
Return on equity 11.4% TTM
Return on assets (EBIT) 4.4% avg 5y
More key figures
Profitability
Operating margin 8.6% TTM
Growth
Revenue (TTM) $3.1B TTM
Revenue growth (YoY) +30.4% 3y avg +5.2%
EPS growth (YoY) +51.6%
Balance sheet & cash flow
Free cash flow −$683K FY2025
Net debt $616M FY2025

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 42

Profitability 39
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 69
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 71
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

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.

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

TTM Technologies Inc reported revenue of $2.9B in FY2025 versus $2.2B in FY2021, a compound +6.6%/yr. Reported net income was $177M in FY2025, compounding +34.4%/yr from FY2021.

Growth Quality 41/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$2.9B
Latest YoY
+19.0%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.2%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.7%
Avg. revenue growth/yr (26Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, adjusted) plus dividend yield: value created per share and year.
+15.8% (15.8 + 0.0)
Revenue +6.6%/yr
FY21 $2.2B
FY22 $2.5B
FY23 $2.2B
FY24 $2.4B
FY25 $2.9B
Net income +34.4%/yr
FY21 $54.4M
FY22 $94.6M
FY23 −$18.7M
FY24 $56.3M
FY25 $177M
Character of growth · EPS growth decomposed (2014-2025) +16.2 % p.a.
Revenue per share +2.2 %

of which total revenue +3.5 % · buybacks/dilution −1.3 %

EBIT margin +2.3 %
Tax rate +3.8 %
Residual (interest, one-offs) +7.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

TTMI screens 229% overvalued. Compare with Amphenol Corporation →

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Cite: Fair Value Calculator (2026). "TTM Technologies Inc Fair Value". https://www.fairvalue-calculator.com/stock/TTMI

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Electronic Components · 638 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −70% · Bottom 25%
Return on equity (TTM) 11% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 6% · Above median
Operating margin (TTM) 9% · Above median
Revenue growth 30% · Top 25%
Debt / equity 0.52× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 62.4× · Pricier than median
P/B 7.78× · Pricier than 75% of peers
P/S (TTM) 4.42× · Pricier than 75% of peers
EV/EBITDA 32.2× · Pricier than median
PEG 0.36× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 40
PAST46 · sector 25
HEALTH74 · sector 95
DIVIDEND0 · sector 24

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
Amphenol Corporation APH $157.74 $97.19 −38%
Corning Incorporated GLW CHF 134.64 CHF 35.18 −74%
Delta Electronics, Inc 2308 1,750 TWD 602.37 TWD −66%
Luxshare Precision Industry Co 002475 ¥56.06 ¥38.44 −31%
Samsung Electro-Mechanics Co 009150 1,503,000 KRW 172,954 KRW −88%
Suzhou Dongshan Precision Manufacturing Co 002384 ¥202.11 ¥21.19 −90%
TE Connectivity plc TEL $202.66 $144.42 −29%
Shengyi Technology Co 600183 ¥132.80 ¥36.30 −73%
Flex Ltd FLEX $124.53 $48.10 −61%
Celestica Inc CLS $298.70 $113.54 −62%

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Frequently asked questions

Is TTM Technologies Inc (TTMI) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of $35.03 versus a price of $115.39, about −70% upside (overvalued).
What is the fair value of TTMI?
Our model-based fair value for TTM Technologies Inc is $35.03 (as of Aug 31, 2026), built from audited fundamentals. The current price: $115.39.
What is the quality score of TTMI?
TTM Technologies Inc has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of TTM Technologies Inc (TTMI)?
TTM Technologies Inc reported trailing-twelve-month revenue of about $3.1B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of TTMI?
The net profit margin of TTM Technologies Inc is about 6.3%, meaning it keeps roughly 6.3% of revenue as net income. Based on the latest reported figures.
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