NasdaqGS:TTMI

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Undervalued 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


Market Performance


7 Day Return

5.3%

TTMI

1.1%

US Electronic

1.3%

US Market


1 Year Return

-15.7%

TTMI

10.2%

US Electronic

5.9%

US Market

Return vs Industry: TTMI underperformed the US Electronic industry which returned 10.2% over the past year.

Return vs Market: TTMI underperformed the US Market which returned 5.9% over the past year.


Shareholder returns

TTMIIndustryMarket
7 Day5.3%1.1%1.3%
30 Day0.6%-2.5%-1.9%
90 Day28.3%0.3%-1.8%
1 Year-15.7%-15.7%11.3%10.2%8.3%5.9%
3 Year8.0%8.0%52.5%48.2%45.6%36.2%
5 Year105.1%105.1%89.0%79.9%66.1%47.9%

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

Valuation

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

35.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: TTMI ($12.31) is trading below our estimate of fair value ($19.08)

Significantly Undervalued: TTMI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TTMI is good value based on its PE Ratio (16.1x) compared to the Electronic industry average (19x).

PE vs Market: TTMI is good value based on its PE Ratio (16.1x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: TTMI is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: TTMI is good value based on its PB Ratio (1.1x) compared to the US Electronic industry average (2x).


Next Steps

Future Growth

How is TTM Technologies forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

34.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TTMI's forecast earnings growth (34.1% per year) is above the savings rate (2.7%).

Earnings vs Market: TTMI's earnings (34.1% per year) are forecast to grow faster than the US market (14.4% per year).

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

Revenue vs Market: TTMI's revenue (4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: TTMI's revenue (4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: TTMI's Return on Equity is forecast to be low in 3 years time (11.8%).


Next Steps

Past Performance

How has TTM Technologies performed over the past 5 years?

54.4%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TTMI has become profitable over the past 5 years, growing earnings by 54.4% per year.

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

Earnings vs Industry: TTMI had negative earnings growth (-51.5%) over the past year, making it difficult to compare to the Electronic industry average (58.6%).


Return on Equity

High ROE: TTMI's Return on Equity (6.5%) is considered low.


Return on Assets

ROA vs Industry: TTMI's Return on Assets is below or equal to the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: TTMI's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is TTM Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: TTMI's short term assets ($1.2B) exceeds its short term liabilities ($624.0M)

Long Term Liabilities: TTMI's short term assets (1.2B) do not cover its long term liabilities (1.6B)


Debt to Equity History and Analysis

Debt Level: TTMI's debt to equity ratio (120.6%) is considered high

Reducing Debt: TTMI's debt to equity ratio has increased from 78.7% to 120.6% over the past 5 years.

Debt Coverage: TTMI's debt is well covered by operating cash flow (23.9%).

Interest Coverage: TTMI's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet

Inventory Level: TTMI has a high level of physical assets or inventory.

Debt Coverage by Assets: TTMI's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage1.6%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

Growing Dividend: Insufficient data to determine if TTMI'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 TTMI's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of TTM Technologies's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Tom Edman (57yo)

5.8yrs

Tenure

US$2,035,978

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 ($USD2.04M) is about average for companies of similar size in the US market ($USD4.07M).

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


Management Age and Tenure

3.8yrs

Average Tenure

58yo

Average Age

Experienced Management: TTMI's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

9.4yrs

Average Tenure

64yo

Average Age

Experienced Board: TTMI's board of directors are considered experienced (9.4 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$214,00003 Sep 19
Daniel Weber
EntityIndividual
Role
Chief Legal Officer
Senior VP
Shares20,000
Max PriceUS$10.70
SellUS$234,34529 Aug 19
Anthony Princiotta
EntityIndividual
Shares23,222
Max PriceUS$10.09
SellUS$315,73821 Aug 19
Tai Chung
EntityIndividual
Role
Senior Key Executive
Executive Vice President of Asia Pacific Business Development
Shares29,839
Max PriceUS$10.58
SellUS$20,00114 Aug 19
William Hardwick
EntityIndividual
Role
Head of Sales
Senior Vice President of Global Sales & E-MS
Shares1,878
Max PriceUS$10.65
BuyUS$57,80021 Nov 18
Philip Franklin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares4,905
Max PriceUS$11.78
BuyUS$59,91116 Nov 18
Philip Franklin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,095
Max PriceUS$11.76

Ownership Breakdown


Management Team

  • Tom Edman (57yo)

    President

    • Tenure: 5.8yrs
    • Compensation: US$2.04m
  • O. Swain (55yo)

    Senior Vice President of Marketing

    • Tenure: 0yrs
    • Compensation: US$578.87k
  • Canice Chung (63yo)

    Executive Vice President of Asia Pacific Business Development

    • Tenure: 7.5yrs
    • Compensation: US$2.02m
  • Todd Schull (60yo)

    Executive VP

    • Tenure: 6.6yrs
    • Compensation: US$1.19m
  • Dan Weber (47yo)

    Senior VP

    • Tenure: 3.7yrs
    • Compensation: US$943.03k
  • Brian Barber (63yo)

    Executive VP & COO

    • Tenure: 3.8yrs
    • Compensation: US$1.39m
  • Doug Soder (58yo)

    Executive VP & President of Commercial Sector

    • Tenure: 1.8yrs
    • Compensation: US$1.88m
  • Shawn Powers

    Senior Vice President of Human Resources

    • Tenure: 0yrs
  • William Hardwick

    Senior Vice President of Global Sales & E-MS

    • Tenure: 3.7yrs
  • Sameer Desai

    Senior Director of Corporate Development & Investor Relations

    • Tenure: 0yrs

Board Members

  • Kent Alder (69yo)

    Independent Director

    • Tenure: 20.6yrs
    • Compensation: US$191.10k
  • Rob Klatell (73yo)

    Independent Chairman of the Board

    • Tenure: 14.4yrs
    • Compensation: US$309.79k
  • Phil Franklin (67yo)

    Independent Director

    • Tenure: 8.9yrs
    • Compensation: US$220.60k
  • Tom Edman (57yo)

    President

    • Tenure: 5.8yrs
    • Compensation: US$2.04m
  • Julie England (61yo)

    Independent Director

    • Tenure: 3yrs
    • Compensation: US$204.10k
  • John Mayer (68yo)

    Independent Director

    • Tenure: 19.1yrs
    • Compensation: US$205.60k
  • Dov Zakheim (70yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: US$210.10k
  • Rex Geveden (57yo)

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: US$357.56k
  • Tom Tang (58yo)

    Director

    • Tenure: 9.5yrs
    • Compensation: US$174.60k
  • Chantel Lenard (49yo)

    Independent Director

    • Tenure: 0.9yrs
    • Compensation: US$231.87k

Company Information

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


Key Information

  • Name: TTM Technologies, Inc.
  • Ticker: TTMI
  • Exchange: NasdaqGS
  • Founded: 1978
  • Industry: Electronic Manufacturing Services
  • Sector: Tech
  • Market Cap: US$1.298b
  • Shares outstanding: 105.49m
  • 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

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. The company offers a range of ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 23:45
End of Day Share Price2019/10/15 00:00
Earnings2019/07/01
Annual Earnings2018/12/31


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.