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TTM TECHNOLOGIES (TTMI) Stock Fundamental Analysis

NASDAQ:TTMI - Nasdaq - US87305R1095 - Common Stock

25.81  +0.27 (+1.06%)

After market: 25.81 0 (0%)

Fundamental Rating

4

TTMI gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 124 industry peers in the Electronic Equipment, Instruments & Components industry. While TTMI is still in line with the averages on profitability rating, there are concerns on its financial health. TTMI has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

TTMI had positive earnings in the past year.
TTMI had a positive operating cash flow in the past year.
Of the past 5 years TTMI 4 years were profitable.
TTMI had a positive operating cash flow in each of the past 5 years.
TTMI Yearly Net Income VS EBIT VS OCF VS FCFTTMI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M 200M 300M

1.2 Ratios

TTMI has a Return On Assets (2.00%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 4.43%, TTMI is in line with its industry, outperforming 59.17% of the companies in the same industry.
TTMI's Return On Invested Capital of 4.56% is fine compared to the rest of the industry. TTMI outperforms 60.83% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for TTMI is below the industry average of 9.03%.
The last Return On Invested Capital (4.56%) for TTMI is above the 3 year average (4.18%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2%
ROE 4.43%
ROIC 4.56%
ROA(3y)1.36%
ROA(5y)2.27%
ROE(3y)2.89%
ROE(5y)4.84%
ROIC(3y)4.18%
ROIC(5y)3.96%
TTMI Yearly ROA, ROE, ROICTTMI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 10

1.3 Margins

With a Profit Margin value of 2.90%, TTMI perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
TTMI has a Operating Margin of 6.49%. This is in the better half of the industry: TTMI outperforms 70.83% of its industry peers.
TTMI's Operating Margin has declined in the last couple of years.
With a Gross Margin value of 19.75%, TTMI is not doing good in the industry: 68.33% of the companies in the same industry are doing better.
In the last couple of years the Gross Margin of TTMI has remained more or less at the same level.
Industry RankSector Rank
OM 6.49%
PM (TTM) 2.9%
GM 19.75%
OM growth 3Y-2.9%
OM growth 5Y-2.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.77%
GM growth 5Y0.57%
TTMI Yearly Profit, Operating, Gross MarginsTTMI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 5 10 15

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3

2. Health

2.1 Basic Checks

TTMI has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
TTMI has about the same amout of shares outstanding than it did 1 year ago.
TTMI has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, TTMI has an improved debt to assets ratio.
TTMI Yearly Shares OutstandingTTMI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M 100M
TTMI Yearly Total Debt VS Total AssetsTTMI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.2 Solvency

An Altman-Z score of 2.29 indicates that TTMI is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.29, TTMI is doing worse than 65.83% of the companies in the same industry.
The Debt to FCF ratio of TTMI is 41.13, which is on the high side as it means it would take TTMI, 41.13 years of fcf income to pay off all of its debts.
TTMI has a Debt to FCF ratio (41.13) which is in line with its industry peers.
A Debt/Equity ratio of 0.60 indicates that TTMI is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.60, TTMI is not doing good in the industry: 79.17% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 41.13
Altman-Z 2.29
ROIC/WACC0.45
WACC10.07%
TTMI Yearly LT Debt VS Equity VS FCFTTMI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.3 Liquidity

A Current Ratio of 2.00 indicates that TTMI should not have too much problems paying its short term obligations.
TTMI's Current ratio of 2.00 is on the low side compared to the rest of the industry. TTMI is outperformed by 60.83% of its industry peers.
A Quick Ratio of 1.70 indicates that TTMI should not have too much problems paying its short term obligations.
TTMI has a Quick ratio of 1.70. This is comparable to the rest of the industry: TTMI outperforms 48.33% of its industry peers.
Industry RankSector Rank
Current Ratio 2
Quick Ratio 1.7
TTMI Yearly Current Assets VS Current LiabilitesTTMI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 13.43% over the past year.
TTMI shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.31% yearly.
Looking at the last year, TTMI shows a small growth in Revenue. The Revenue has grown by 3.51% in the last year.
The Revenue has been decreasing by -0.05% on average over the past years.
EPS 1Y (TTM)13.43%
EPS 3Y6.48%
EPS 5Y-5.31%
EPS Q2Q%-4.65%
Revenue 1Y (TTM)3.51%
Revenue growth 3Y1.98%
Revenue growth 5Y-0.05%
Sales Q2Q%7.68%

3.2 Future

The Earnings Per Share is expected to grow by 21.99% on average over the next years. This is a very strong growth
TTMI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.14% yearly.
EPS Next Y20.93%
EPS Next 2Y21.99%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year8.38%
Revenue Next 2Y6.85%
Revenue Next 3Y5.14%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
TTMI Yearly Revenue VS EstimatesTTMI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B 2B 2.5B
TTMI Yearly EPS VS EstimatesTTMI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 16.98, which indicates a correct valuation of TTMI.
85.83% of the companies in the same industry are more expensive than TTMI, based on the Price/Earnings ratio.
TTMI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.29.
TTMI is valuated correctly with a Price/Forward Earnings ratio of 12.94.
TTMI's Price/Forward Earnings ratio is rather cheap when compared to the industry. TTMI is cheaper than 90.83% of the companies in the same industry.
TTMI is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 24.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 16.98
Fwd PE 12.94
TTMI Price Earnings VS Forward Price EarningsTTMI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, TTMI is valued cheaper than 84.17% of the companies in the same industry.
The rest of the industry has a similar Price/Free Cash Flow ratio as TTMI.
Industry RankSector Rank
P/FCF 116.59
EV/EBITDA 10.09
TTMI Per share dataTTMI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
TTMI's earnings are expected to grow with 21.99% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.81
PEG (5Y)N/A
EPS Next 2Y21.99%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

TTMI does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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TTM TECHNOLOGIES

NASDAQ:TTMI (1/21/2025, 8:00:02 PM)

After market: 25.81 0 (0%)

25.81

+0.27 (+1.06%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)10-30 2024-10-30/amc
Earnings (Next)02-05 2025-02-05/amc
Inst Owners101.15%
Inst Owner Change-0.09%
Ins Owners2.11%
Ins Owner Change-1.61%
Market Cap2.63B
Analysts84
Price Target29.84 (15.61%)
Short Float %2.49%
Short Ratio3.97
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)5.55%
Min EPS beat(2)-1.36%
Max EPS beat(2)12.46%
EPS beat(4)3
Avg EPS beat(4)8.38%
Min EPS beat(4)-1.36%
Max EPS beat(4)12.46%
EPS beat(8)6
Avg EPS beat(8)17.99%
EPS beat(12)10
Avg EPS beat(12)20.04%
EPS beat(16)12
Avg EPS beat(16)18.65%
Revenue beat(2)2
Avg Revenue beat(2)1.2%
Min Revenue beat(2)0.07%
Max Revenue beat(2)2.33%
Revenue beat(4)3
Avg Revenue beat(4)0.31%
Min Revenue beat(4)-2.47%
Max Revenue beat(4)2.33%
Revenue beat(8)3
Avg Revenue beat(8)-2.13%
Revenue beat(12)6
Avg Revenue beat(12)-0.79%
Revenue beat(16)9
Avg Revenue beat(16)-0.45%
PT rev (1m)10.38%
PT rev (3m)17.88%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.02%
EPS NY rev (1m)0%
EPS NY rev (3m)3.5%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)2.46%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.15%
Valuation
Industry RankSector Rank
PE 16.98
Fwd PE 12.94
P/S 1.11
P/FCF 116.59
P/OCF 13.27
P/B 1.7
P/tB 4.09
EV/EBITDA 10.09
EPS(TTM)1.52
EY5.89%
EPS(NY)1.99
Fwd EY7.73%
FCF(TTM)0.22
FCFY0.86%
OCF(TTM)1.94
OCFY7.54%
SpS23.15
BVpS15.17
TBVpS6.31
PEG (NY)0.81
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2%
ROE 4.43%
ROCE 5.77%
ROIC 4.56%
ROICexc 5.54%
ROICexgc 9.44%
OM 6.49%
PM (TTM) 2.9%
GM 19.75%
FCFM 0.96%
ROA(3y)1.36%
ROA(5y)2.27%
ROE(3y)2.89%
ROE(5y)4.84%
ROIC(3y)4.18%
ROIC(5y)3.96%
ROICexc(3y)5.11%
ROICexc(5y)4.82%
ROICexgc(3y)9.49%
ROICexgc(5y)9.12%
ROCE(3y)5.29%
ROCE(5y)5.01%
ROICexcg growth 3Y-7.35%
ROICexcg growth 5Y0.17%
ROICexc growth 3Y-4.83%
ROICexc growth 5Y0.85%
OM growth 3Y-2.9%
OM growth 5Y-2.14%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y2.77%
GM growth 5Y0.57%
F-Score7
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0.6
Debt/FCF 41.13
Debt/EBITDA 3.02
Cap/Depr 114.73%
Cap/Sales 7.44%
Interest Coverage 3.2
Cash Conversion 64.72%
Profit Quality 32.97%
Current Ratio 2
Quick Ratio 1.7
Altman-Z 2.29
F-Score7
WACC10.07%
ROIC/WACC0.45
Cap/Depr(3y)80.32%
Cap/Depr(5y)73.6%
Cap/Sales(3y)4.98%
Cap/Sales(5y)5.31%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)13.43%
EPS 3Y6.48%
EPS 5Y-5.31%
EPS Q2Q%-4.65%
EPS Next Y20.93%
EPS Next 2Y21.99%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.51%
Revenue growth 3Y1.98%
Revenue growth 5Y-0.05%
Sales Q2Q%7.68%
Revenue Next Year8.38%
Revenue Next 2Y6.85%
Revenue Next 3Y5.14%
Revenue Next 5YN/A
EBIT growth 1Y26.86%
EBIT growth 3Y-0.98%
EBIT growth 5Y-2.18%
EBIT Next Year74.83%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-86.02%
FCF growth 3Y-47.22%
FCF growth 5Y-26.14%
OCF growth 1Y-23.01%
OCF growth 3Y-13.28%
OCF growth 5Y-7.27%