Is the business good?
How good a business is TTMI?
TTM Technologies, Inc. earns 9.7% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.7%
Return on invested capital · cost of capital 9.0% · 0.67 points above what the capital costs: growth creates value
- Operating margin
- 9.2%
Operating margin · Electronic Components median 9.6% · 12 months to Q1 2026
- Cash conversion
- −0.06×
Cash conversion · −0.22× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +2.4%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 1.3% |
| FY2021 | 5.6% |
| FY2022 | 8.4% |
| FY2023 | 1.9% |
| FY2024 | 4.8% |
| FY2025 | 9.1% |
Details›
- Gross margin12 months to Q1 2026
- 21%
- Operating margin12 months to Q1 2026
- 9.2%
- Net margin12 months to Q1 2026
- 6.3%
- Free cash flow margin
- −0.38%
- R&D as % of revenue
- 0.93%
- Revenue, trailing twelve months
- $3.10B
- Free cash flow, trailing twelve months
- −$12M
- Net income, trailing twelve months
- $195M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.7%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electronic Components
Ranks #17 of 23 by Smart Score