TTM Technologies (TTMI)
NASDAQInformation TechnologyHardware, Equipment & PartsSnapshot 2026-09-04
$125.60+8.85%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologyHardware, Equipment & PartsSnapshot 2026-09-04
Broken: Primary pillar broken — Free cash flow generation to support financial flexibility: FCF metric not reported vs 300M target.
TTM Technologies grows revenue 30% yearly from strong demand. Profit margins improve to about 15%. Free cash flow is expected near $300 million in 2026. New credit deals boost financial strength.
Revenue growth may slow below 19%. Cash flow is volatile and weak. High valuation risks a big price drop.
The price is about 51% above our fair value near $96. Analysts expect 33% revenue growth. Our model is more cautious than the Street.
Breaks if: Loss of new credit facilities or increased restrictions
Enhance balance sheet flexibility and capacity for investments through new credit agreements and debt management.
Stated as a priority in 2 disclosures in 2026-Q2. Management announced a $1.0 billion revolver and upsized Term Loan B to increase financial flexibility and capacity for investments. The new credit agreement entered on June 1, 2026, supports this priority. The trajectory shows active strengthening of financial position.
“Took steps through recently announced $1.0 billion revolver and upsized Term Loan B to increase balance sheet flexibility.”
“Entered into Second Amended & Restated Credit Agreement on June 1, 2026.”
Breaks if: Free cash flow falls below $300 million in FY26
Breaks if: Operating margin falls below 13% in FY26
Breaks if: YoY revenue growth falls below 19% next year
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a durable compounder with a focus on revenue growth and margin enhancement. The current thesis state is stable, supported by strong recent financial performance but tempered by high valuation and execution risks.
The market currently prices TTMI at a premium compared to its peers, reflecting justified expectations based on its recent performance. However, the valuation is considered expensive, indicating that the market may not fully account for potential execution risks.
Management is on track with priorities to increase revenue growth, enhance operating income, and improve cash flow. Recent financial results show strong growth, but the fragile earnings quality suggests that future performance may be inconsistent.
Key factors for TTMI's future include guidance updates from management, potential interest rate cuts by the Fed, and performance from sector leaders. A negative guidance cut could lead to a significant downturn, while positive trends in the sector could provide support.
Over the next 1 to 3 years, TTMI's performance will depend on management execution and external economic factors. Not investment advice.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. The latest earnings beat supports revenue growth expectations. However, concerns arise from the recent $1.1 billion acquisition, which may strain financial resources.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.