DB:TT1

Stock Analysis Report

TTM Technologies

Executive Summary

TTM Technologies, Inc., together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide.


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has TTM Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TT1's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

14.9%

TT1

11.3%

DE Electronic

9.1%

DE Market


1 Year Return

-10.3%

TT1

-21.1%

DE Electronic

-13.1%

DE Market

Return vs Industry: TT1 exceeded the German Electronic industry which returned -25.6% over the past year.

Return vs Market: TT1 exceeded the German Market which returned -16.6% over the past year.


Shareholder returns

TT1IndustryMarket
7 Day14.9%11.3%9.1%
30 Day0.5%-3.5%-1.0%
90 Day-25.4%-15.1%-20.7%
1 Year-10.3%-10.3%-19.5%-21.1%-10.6%-13.1%
3 Year-32.9%-32.9%6.4%3.0%-10.7%-18.1%
5 Year20.3%20.3%77.7%64.6%-10.7%-22.8%

Price Volatility Vs. Market

How volatile is TTM Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is TTM Technologies undervalued compared to its fair value and its price relative to the market?

24.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TT1 (€9.65) is trading below our estimate of fair value (€13.2)

Significantly Below Fair Value: TT1 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: TT1 is poor value based on its PE Ratio (26.8x) compared to the Electronic industry average (18.6x).

PE vs Market: TT1 is poor value based on its PE Ratio (26.8x) compared to the German market (16.8x).


Price to Earnings Growth Ratio

PEG Ratio: TT1 is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: TT1 is good value based on its PB Ratio (0.9x) compared to the DE Electronic industry average (1.2x).


Next Steps

Future Growth

How is TTM Technologies forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

24.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TT1's forecast earnings growth (24.2% per year) is above the savings rate (-0.4%).

Earnings vs Market: TT1's earnings (24.2% per year) are forecast to grow faster than the German market (14% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TT1's revenue is expected to decline over the next 3 years (-1.6% per year).

High Growth Revenue: TT1's revenue is forecast to decline over the next 3 years (-1.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TT1's Return on Equity is forecast to be low in 3 years time (8%).


Next Steps

Past Performance

How has TTM Technologies performed over the past 5 years?

41.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TT1 has a large one-off loss of $13.4M impacting its December 30 2019 financial results.

Growing Profit Margin: TT1's current net profit margins (1.5%) are lower than last year (6.1%).


Past Earnings Growth Analysis

Earnings Trend: TT1's earnings have grown significantly by 41.4% per year over the past 5 years.

Accelerating Growth: TT1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TT1 had negative earnings growth (-76.2%) over the past year, making it difficult to compare to the Electronic industry average (-12.3%).


Return on Equity

High ROE: TT1's Return on Equity (3.2%) is considered low.


Next Steps

Financial Health

How is TTM Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: TT1's short term assets ($1.3B) exceed its short term liabilities ($946.7M).

Long Term Liabilities: TT1's short term assets ($1.3B) exceed its long term liabilities ($1.3B).


Debt to Equity History and Analysis

Debt Level: TT1's debt to equity ratio (116.3%) is considered high.

Reducing Debt: TT1's debt to equity ratio has increased from 70.1% to 116.3% over the past 5 years.

Debt Coverage: TT1's debt is well covered by operating cash flow (21%).

Interest Coverage: TT1's interest payments on its debt are not well covered by EBIT (1.6x coverage).


Balance Sheet


Next Steps

Dividend

What is TTM Technologies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate TT1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TT1's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TT1's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TT1's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TT1's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Tom Edman (57yo)

6.25s

Tenure

US$1,956,142

Compensation

Mr. Thomas T. Edman, also known as Tom, served as Chief Executive Officer of SmartWorks at Techstep ASA. Mr. Edman has been the Chief Executive Officer of TTM Technologies Inc. since January 1, 2014 and it ...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD1.96M) is above average for companies of similar size in the German market ($USD1.30M).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Edman
President6.25yrsUS$1.96m0.46% $4.9m
Todd Schull
Executive VP7.08yrsUS$1.14m0.16% $1.7m
Philip Titterton
Executive VP & COO0.25yrUS$995.91k0.0056% $59.3k
Douglas Soder
Executive VP & President of Commercial Sector2.25yrsUS$1.83m0.14% $1.5m
Brian Barber
Executive Vice President of Operations Special Projectsno dataUS$1.41m0.11% $1.2m
Sameer Desai
Senior Director of Corporate Development & Investor Relationsno datano datano data
Daniel Weber
Senior VP4.17yrsUS$943.03k0.0068% $72.9k
O. Swain
Senior Vice President of Marketingno dataUS$578.87kno data
William Hardwick
Senior Vice President of Global Sales & E-MS4.17yrsno data0.051% $546.6k
Shawn Powers
Senior Vice President of Human Resourcesno datano datano data

4.2yrs

Average Tenure

57yo

Average Age

Experienced Management: TT1's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Edman
President6.25yrsUS$1.96m0.46% $4.9m
Kenton Alder
Independent Director21.08yrsUS$197.43k0.038% $404.7k
Robert Klatell
Independent Chairman of the Board14.92yrsUS$340.26k0.0061% $65.5k
Philip Franklin
Independent Director9.42yrsUS$228.43kno data
Julie England
Independent Director3.5yrsUS$215.43kno data
John Mayer
Independent Director19.58yrsUS$218.43k0.0086% $92.5k
Dov Zakheim
Independent Director9.75yrsUS$219.43kno data
Rex Geveden
Independent Director1.92yrsUS$206.43kno data
Chung Tang
Director10yrsUS$197.43kno data
Chantel Lenard
Independent Director1.42yrsUS$206.43kno data

9.9yrs

Average Tenure

64yo

Average Age

Experienced Board: TT1's board of directors are considered experienced (9.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: TT1 insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

TTM Technologies, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TTM Technologies, Inc.
  • Ticker: TT1
  • Exchange: DB
  • Founded: 1978
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: US$1.162b
  • Listing Market Cap: US$1.069b
  • Shares outstanding: 105.96m
  • Website: https://www.ttm.com

Number of Employees


Location

  • TTM Technologies, Inc.
  • 200 East Sandpointe
  • Suite 400
  • Santa Ana
  • California
  • 92707
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TTMINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDSep 2000
TT1DB (Deutsche Boerse AG)YesCommon StockDEEURSep 2000
TT1BRSE (Berne Stock Exchange)YesCommon StockCHCHFSep 2000

Biography

TTM Technologies, Inc., together with its subsidiaries, manufactures printed circuit boards (PCBs) worldwide. The company operates through two segments, PCB and E-M Solutions. It offers a range of PCB products, radio-frequency (RF) components, and electro-mechanical solutions, including conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks. The company also produces printed circuits with heavy copper cores, and embedded and press-fit coins; PCBs with electrically passive heat sinks; and PCBs with electrically active thermal cores. In addition, it offers various services, including design for manufacturability, PCB layout design, simulation and testing, and quick turnaround services. The company serves original equipment manufacturers and electronic manufacturing services companies that primarily serve the aerospace and defense, automotive, cellular phone, computing/storage/peripherals, medical/industrial/instrumentation, and networking/communications end markets of the electronics industry; and the U.S. government. TTM Technologies, Inc. was founded in 1978 and is headquartered in Santa Ana, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 02:00
End of Day Share Price2020/04/09 00:00
Earnings2019/12/30
Annual Earnings2019/12/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.