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U.S. Electronic Manufacturing Services Industry Analysis

UpdatedJun 18, 2026
DataAggregated Company Financials
Companies26
  • 7D5.4%
  • 3M41.2%
  • 1Y98.7%
  • YTDn/a

TTM Technologies is up 18%, leading the way for the Electronic Manufacturing Services industry, which has gained 5.4%. Meanwhile, Nortech Systems actually underperformed within the industry, shrinking 8.9% in the last week. This means that the industry has gained 99% over the past year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

Has the U.S. Electronic Manufacturing Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Jun 2026US$232.7bUS$110.1bUS$4.6b48.9x50.3x2.1x
Sat, 16 May 2026US$227.4bUS$109.0bUS$4.9b44.3x46.6x2.1x
Mon, 13 Apr 2026US$188.9bUS$105.3bUS$3.9b34.5x48x1.8x
Wed, 11 Mar 2026US$160.2bUS$103.7bUS$3.9b29.3x41x1.5x
Fri, 06 Feb 2026US$158.5bUS$103.6bUS$4.5b30.4x35.4x1.5x
Sun, 04 Jan 2026US$163.3bUS$100.6bUS$4.2b32.3x38.5x1.6x
Tue, 02 Dec 2025US$155.2bUS$99.3bUS$4.4b31.4x35.6x1.6x
Thu, 30 Oct 2025US$158.9bUS$98.0bUS$3.7b32.3x43.1x1.6x
Sat, 27 Sep 2025US$145.2bUS$98.0bUS$3.7b35.7x39.4x1.5x
Mon, 25 Aug 2025US$135.4bUS$96.7bUS$3.6b34.8x37.7x1.4x
Wed, 23 Jul 2025US$129.5bUS$95.8bUS$3.4b26.7x37.9x1.4x
Fri, 20 Jun 2025US$116.2bUS$95.8bUS$3.4b25.7x34.3x1.2x
Sun, 18 May 2025US$108.7bUS$94.8bUS$3.3b25.3x33.1x1.1x
Tue, 15 Apr 2025US$85.3bUS$94.1bUS$4.0b20.6x21.6x0.9x
Thu, 13 Mar 2025US$93.5bUS$94.3bUS$4.7b22x19.9x1x
Sat, 08 Feb 2025US$105.4bUS$94.4bUS$4.7b23.4x22.2x1.1x
Mon, 06 Jan 2025US$102.1bUS$94.0bUS$5.9b26.4x17.4x1.1x
Wed, 04 Dec 2024US$104.7bUS$95.4bUS$5.9b27.8x17.7x1.1x
Fri, 01 Nov 2024US$99.0bUS$95.4bUS$5.9b23.2x16.8x1x
Sun, 29 Sep 2024US$99.0bUS$95.8bUS$6.2b23.5x15.9x1x
Tue, 27 Aug 2024US$99.6bUS$97.4bUS$6.3b22x15.9x1x
Thu, 25 Jul 2024US$98.4bUS$98.6bUS$6.2b21x15.9x1x
Sat, 22 Jun 2024US$97.6bUS$98.7bUS$6.2b20.1x15.6x1x
Mon, 20 May 2024US$98.1bUS$100.4bUS$6.4b20.3x15.4x1x
Wed, 17 Apr 2024US$93.5bUS$104.3bUS$6.5b14.6x14.5x0.9x
Fri, 15 Mar 2024US$98.1bUS$105.7bUS$5.7b16.2x17.1x0.9x
Sun, 11 Feb 2024US$98.3bUS$105.7bUS$5.6b15.8x17.4x0.9x
Tue, 09 Jan 2024US$91.0bUS$107.0bUS$4.3b17.5x21.1x0.9x
Thu, 07 Dec 2023US$88.1bUS$108.3bUS$4.4b14.7x19.9x0.8x
Sat, 04 Nov 2023US$88.8bUS$108.4bUS$4.4b16.3x20.1x0.8x
Mon, 02 Oct 2023US$89.8bUS$109.3bUS$4.7b17.1x19.2x0.8x
Wed, 30 Aug 2023US$91.9bUS$109.9bUS$4.9b17.1x18.9x0.8x
Fri, 28 Jul 2023US$96.2bUS$109.7bUS$4.9b17.1x19.6x0.9x
Sun, 25 Jun 2023US$90.7bUS$109.7bUS$5.0b15.2x18.3x0.8x
Price to Earnings Ratio

18.3x


Total Market Cap: US$90.7bTotal Earnings: US$5.0bTotal Revenue: US$109.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Electronic Manufacturing Services Industry Price to Earnings3Y Average 26.1x202420252026
Current Industry PE
  • Investors are optimistic on the American Electronic Manufacturing Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 50.3x which is higher than its 3-year average PE of 26.1x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Electronic Manufacturing Services industry have declined 2.2% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does U.S. Electronic Manufacturing Services compare with similar industries?

US Market1.98%
Tech3.56%
Electronic Equipment and Components5.94%
Electronic Manufacturing Services5.43%
Electronic Components6.59%
Electronic Equipment and Instruments6.57%
Technology Distributors2.09%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TTMI TTM TechnologiesUS$202.7017.8%
+US$3.2b		448.3%PE107.8x
TEL TE ConnectivityUS$212.205.0%
+US$3.0b		29.6%PE21.3x
JBL JabilUS$374.986.4%
+US$2.4b		83.2%PE48.9x
FLEX FlexUS$143.132.6%
+US$1.3b		209.9%PE59.6x
SANM SanminaUS$242.774.9%
+US$613.7m		169.6%PE50.1x

Latest News

CTS
US$64.72
CTS
7D
-0.1%
1Y
56.4%
JBL
US$374.98
Jabil
7D
6.4%
1Y
83.2%
TTMI
US$202.70
TTM Technologies
7D
17.8%
1Y
448.3%
FLEX
US$143.13
Flex
7D
2.6%
1Y
209.9%
Narrative Update • Jun 16

FLEX: AI Power SpinOff And S&P 500 Inclusion Will Balance Execution Risks

The analyst price target for Flex has been updated from $81.44 to $160.40, reflecting higher Street expectations for growth and profitability in the AI related and post spinoff business mix. Analyst Commentary Recent research highlights a wide range of views on Flex, with several firms lifting valuation targets around the AI exposed and post spinoff profile, while at least one new initiation takes a more neutral stance.
SANM
US$242.77
Sanmina
7D
4.9%
1Y
169.6%
Narrative Update • Jun 15

SANM: Higher Peer P E Multiples Will Ultimately Expose Revenue Execution Risk

Analysts have raised their Sanmina fair value estimate from $212.25 to $223.75. This revision reflects the use of a higher P/E multiple that is closer to peers and is supported by increased confidence in the company’s revenue growth outlook cited in recent research updates.
BHE
US$91.05
Benchmark Electronics
7D
9.9%
1Y
141.4%
TEL
US$212.20
TE Connectivity
7D
5.0%
1Y
29.6%
Narrative Update • Jun 13

TEL: AI Connectivity And Buybacks Will Drive Multi Year Upside

Analysts have nudged their price target on TE Connectivity slightly higher to $263.47 from $263.32, reflecting updated views on fair value, discount rate assumptions, profit margins and future P/E multiples. What's in the News TE Connectivity shares recently moved higher, with investors focusing on the company’s role in high speed connectivity for AI and data center infrastructure, according to recent news reports.
NEON
US$1.13
Neonode
7D
-1.7%
1Y
-94.2%
IPGP
US$113.64
IPG Photonics
7D
9.2%
1Y
70.3%
Narrative Update • Jun 08

IPGP: Rich P E And Weak Fundamentals Will Restrain AI Hype-Fueled Upside

Analysts have adjusted their price targets for IPG Photonics, with one recent update moving from $149 to $151. The commentary noted that the company's refreshed management approach and broader use of its product portfolio are helping it address more customer needs and enter higher growth markets.
PLXS
US$294.03
Plexus
7D
6.7%
1Y
124.7%
Narrative Update • Jun 05

PLXS: Secular Demand Strength And Higher P/E Will Likely Restrain Upside

Analysts have lifted Plexus' implied fair value in this framework from $210.80 to $280.75, reflecting updated assumptions that point to higher revenue, slightly stronger profit margins, and a richer future P/E multiple supported by recent Street research highlighting the company's positioning in secular growth areas like A&D, Semi Cap, and emerging Data Center applications. Analyst Commentary Bullish Takeaways Bullish analysts have moved their price targets higher, which aligns with the updated implied fair value and signals greater confidence in the stock's risk and reward profile.
TRSG
US$1.57
Tungray Technologies
7D
-2.5%
1Y
-7.5%
NSYS
US$15.50
Nortech Systems
7D
-8.9%
1Y
88.6%
WTO
US$0.71
UTime
7D
-29.3%
1Y
-99.8%