TTMI
TTM Technologies, Inc.

TTM Technologies, Inc.TTMI

Technology · Electronic Components
93.88USD
-7.38%
Oct 17, 2026
TTMI overview ready
Key Supplier of Advanced PCBs and RF Components for Defense Electronics
TTMI is a defense-electronics component supplier and manufacturing enabler, rather than a prime weapon-system contractor or a pure-play missile-defense platform provider.
Strong narrative exposure
Exposed to the Defense Rearmament and Industrial Base narrative through Defense Electronics and Sensing — component supplier.
Price structure is giving way
Longer-term context reads extended trend, with a near-term setup of constructive pullback.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Cyclicality in aerospace and defense spending.
Market Oct 16Filing Jun 29Price action Aug 9

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeat—ThemeHeat—PriceAction1.4Valuation5.4CompanyPosition7.3BusinessQuality7.2
Price
Loading price history…

Price Action

Price structure is giving way
Longer-term context reads extended trend, with a near-term setup of constructive pullback.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$9.9B
Avg Volume (60D)
2.4M
60 sessions
Revenue Growth YoY
+19.0%
FY2025 vs FY2024
Gross Margin
+21.2%
Trailing twelve months
Operating Margin
+9.9%
Trailing twelve months
Free Cash Flow Yield
-0.2%
P/E
41.8x
EV / Sales
3.1x
Market metrics as of Oct 16, 2026
Financial results for the period ended Jun 29, 2026
Filed balance-sheet data as of Jun 29, 2026

Fundamentals & Valuation

One of the two valuation perspectives says fair; own history is the dissenting view.
TTM Technologies, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

What changed

Company Research

Thesis
TTMI is a defense-electronics component supplier and manufacturing enabler, rather than a prime weapon-system contractor or a pure-play missile-defense platform provider. The exposure is adjacent rather than pure-play: the company sells into the same demand, alongside a broader business.
Opportunity
High opportunity
Procurement and capacity expansion for the advanced interconnect, RF, microelectronic, radar, sensing, communications, and mission-electronics content required across modern air-defense, missile-defense, aerospace, space, unmanned, and other defense platforms.
Key risk
Cyclicality in aerospace and defense spending.

Narrative & Theme

Defense Rearmament and Industrial Base
Part of Defense Electronics and Sensing, with strong fit.
TTMI genuinely fits the active Defense Rearmament and Industrial Base narrative. The more precise sibling theme is Defense Electronics and Sensing.
Narrative HeatUnavailable
Theme HeatUnavailable

Business & Markets

Technology · Electronic Components
What they do

TTM Technologies, Inc. designs, manufactures, and sells printed circuit boards, RF components, and electronic assemblies primarily for aerospace, defense, and commercial markets across the US, Taiwan, and internationally.

How it earns

The company generates revenue primarily through transactional sales of engineered systems, components, and assemblies.

Products & services
Printed circuit boards (PCBs) and substrates
Radio frequency (RF) components and microwave assemblies
Custom electronic assemblies and integrated systems
Customers & end markets
Aerospace and defense
Commercial electronics
Market position

TTM Technologies is a leading manufacturer in the PCB and RF components industry with a diversified customer base and global footprint.

Demand drivers
Medium cyclicality

Business is influenced by defense spending cycles and commercial electronics demand fluctuations.

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