TTM Technologies, Inc. (TTMI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-103.1%

-$2.52

vs $80.33 price

Levered DCF

$2.84

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.91

Grey zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	41.16×	44.91×	-87.83×	16.26×	29.69×	8.23×	38.15×	7.48×
P/B	4.15×	1.61×	1.08×	1.01×	1.11×	1.01×	1.22×	1.06×
P/S	2.51×	1.03×	0.73×	0.62×	0.72×	0.69×	0.73×	0.58×
EV / EBITDA	19.66×	10.74×	10.49×	5.81×	8.38×	9.74×	7.9×	7.29×
Gross margin	19.6%	19.5%	18.5%	18.4%	16.5%	17.1%	17.7%	18.0%
Operating margin	9.0%	4.8%	1.9%	8.4%	5.6%	1.3%	5.1%	5.3%
Net margin	6.1%	2.3%	-0.8%	3.8%	2.4%	8.4%	1.9%	7.8%
Current ratio	1.93×	1.99×	2.03×	1.96×	2.52×	2.41×	1.42×	1.79×
Debt / equity	0.63×	0.65×	0.67×	0.63×	0.66×	0.6×	1.17×	1.22×
Interest coverage	5.77×	2.44×	0.88×	4.62×	2.77×	0.38×	1.34×	1.57×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.1%	3.6%	-1.2%	6.2%	3.7%	12.3%	3.2%	14.1%
Return on invested capital	7.6%	2.9%	-101.3%	4.2%	3.9%	0.4%	3.6%	4.2%
Return on assets	4.6%	1.6%	-0.6%	2.8%	1.8%	6.1%	1.2%	5.0%
Free cash flow yield	-0.0%	2.0%	1.7%	11.0%	5.9%	12.6%	10.8%	9.4%
Earnings yield	2.4%	2.2%	-1.2%	6.1%	3.4%	12.1%	2.6%	13.3%
Enterprise value	$7.9B	$3B	$2.2B	$2.1B	$2B	$1.9B	$2.7B	$2.5B
Net debt / EBITDA	1.53×	1.82×	2.72×	1.55×	1.76×	2.16×	3.25×	3.54×
Cash conversion cycle (days)	84	90	92	94	70	69	87	68