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TTM Technologies Inc key statistics and ratios

In fiscal 2025, TTM Technologies Inc had return on equity of 10.7%, an operating margin of 9.1%, debt equal to 52.4% of equity and a current ratio of 1.93. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Jan 20172017Jan 20182018Dec 20182019Dec 20192020Dec 20202021Jan 20222022Jan 20232023Jan 20242024Dec 20242025Dec 2025LTMSept 2026
Gross margin17.7%21.6%21.1%16.7%15.9%14.7%14.8%16.7%16.2%18.0%17.7%17.1%16.5%18.4%18.5%19.5%20.7%22.2%
Operating margin3.2%10.6%6.4%−10.5%5.1%3.5%2.9%6.8%8.0%5.3%5.1%1.3%5.6%8.4%1.9%4.8%9.1%11.1%
Net margin0.8%6.1%2.9%−12.9%1.6%1.1%−1.2%1.4%4.7%7.8%1.9%8.4%2.4%3.8%−0.8%2.3%6.1%7.0%
Free-cash-flow margin10.7%4.9%2.6%3.2%−2.3%1.5%6.6%8.4%6.8%5.5%7.9%8.7%4.2%6.8%1.2%2.1%−0.0%0.4%
Return on equity1.4%13.4%5.4%−23.9%3.2%2.1%−3.4%4.3%13.6%15.5%3.3%13.0%3.8%6.3%−1.2%3.7%10.7%14.1%
Return on assets0.9%6.2%2.4%−10.2%1.3%0.9%−1.2%1.4%4.7%5.6%1.2%5.5%1.8%3.0%−0.6%1.7%4.9%5.7%
Asset turnover1.071.020.810.790.820.810.990.991.010.720.610.650.760.790.670.720.790.81
Current ratio—1.621.542.071.761.611.371.471.701.791.422.412.521.962.031.991.931.67
Debt to equity0.0%52.2%41.8%61.2%52.5%77.7%156.0%124.2%101.2%124.8%117.3%58.9%64.3%60.9%61.5%59.3%52.4%81.2%
Interest cover (operating income ÷ interest)1.6x5.6x3.4xn/m2.9x2.0x1.0x2.3x3.9x1.6x1.3x0.4x2.8x4.6x0.9x2.4x5.8x9.2x
Effective tax rate40.2%26.5%35.5%—39.9%34.1%—46.9%10.9%—7.0%—22.3%48.3%—32.9%15.6%21.8%
R&D as % of revenue—————————0.6%0.8%0.9%0.8%1.0%1.2%1.3%1.0%0.8%
Capital spending as % of revenue2.0%5.8%10.0%10.3%7.6%8.3%4.8%3.4%5.7%6.7%6.7%4.9%3.6%4.1%7.2%7.6%10.1%8.4%
Free cash flow ÷ net income>999%80.1%87.4%—−146.1%137.4%—611.6%146.0%70.9%410.1%103.6%174.0%179.7%—90.9%−0.4%5.5%
Dividends and buybacks ÷ free cash flow————————————68.4%20.8%90.3%67.4%—0.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · September 28, 2026
What it owns · $5.6bn
Short-term assets $3.0bnLonger-term assets $2.6bn
What it owes, and who funded it · $3.8bn
Short-term liabilities $1.8bnShareholders' equity $2.0bn
  • Short-term assets cover short-term liabilities $3.0bn of assets due within a year against $1.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $876m of cash against $1.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 80% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 64% to 80% over five years.
  • A year's operating cash flow covers at least 20% of debt $336m of operating cash flow against $1.6bn of debt.
  • Operating profit covers interest at least five times over Operating income of $425m against $46m of interest.

From TTM Technologies Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

44 /100

Weak moat

How hard TTM Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.4% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 18.0%, moving by 1.9 percentage points (standard deviation) across 10 years.

  • Durability 4 / 20

    Operating margin has been a median 5.9%; its worst year was 1.3%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 10 of 10 years, at a median 4.2% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 0.4% over five years; stock-based pay has been a median 0.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (49 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: TTMI vs VSHBDC vs TTMILFUS vs TTMICOHR vs TTMI

More: Electronic Components stocks compared, Technology sector, rankings of US companies

Figures from TTM Technologies Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to TTM Technologies Inc.