TTMI on Nasdaq

TTM Technologies

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons4

American printed circuit board manufacturer

TTM Technologies, Inc. is an American printed circuit board (PCB) manufacturer headquartered in Santa Ana, California.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

1998Founded1

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  • TickerTTMI on Nasdaq1
  • Industrymicroelectronics, printed circuit board, transceiver1
  • HeadquartersSanta Ana1
  • Websitewww.ttm.com
  • Incorporated inDE5
  • Business address200 East Sandpointe, Suite 400, Santa Ana, Ca 927075
  • Filer categoryLarge accelerated filer5

TTM Technologies, Inc. is an American printed circuit board (PCB) manufacturer headquartered in Santa Ana, California. Founded in 1998, the company is one of the top five PCB manufacturers in the world and the largest in North America, and the largest supplier of PCBs to the U.S. military. TTM serves customers in industries including aerospace and defense, medical, industrial, automotive, computing, and networking.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

20.7%Gross margin7
9.1%Operating margin7
6.1%Net margin7
19.0%Revenue growth, 20257
10.1%Return on equity7
0.52×Debt to equity7
-$683.0KFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Aerospace and Defense Components brought in 44% of the revenue TTM Technologies broke down this way in fiscal 2025.

  1. Aerospace and Defense Components$1.3B744%up 13% from 2024
  2. Data Center Computing$683.4M724%up 36% from 2024
  3. Medical Industrial Instrumentation$409.5M714%up 22% from 2024
  4. Automotive Components$302.2M710%down 4% from 2024
  5. Networking Communication$229.8M78%up 43% from 2024
Products and services by year
Products and services202320242025
Aerospace and Defense Components$1.0B$1.1B$1.3B
Data Center Computing$313.4M$501.4M$683.4M
Medical Industrial Instrumentation$360.7M$335.2M$409.5M
Automotive Components$351.5M$315.1M$302.2M
Networking Communication$176.4M$160.3M$229.8M

Business segments

Total Industry brought in 50% of the revenue TTM Technologies broke down this way in fiscal 2025.

  1. Total Industry$2.9B750%up 19% from 2024
  2. Commercial$1.6B727%up 24% from 2024
  3. Aerospace And Defense$1.3B722%up 13% from 2024
  4. Radio Frequency And Specialty Components$40.0M71%up 8% from 2024
Business segments by year
Business segments202320242025
Total Industry$2.2B$2.5B$2.9B
Commercial$1.2B$1.3B$1.6B
Aerospace And Defense$1.0B$1.1B$1.3B
Radio Frequency And Specialty Components$38.5M$37.1M$40.0M

Regions

United States brought in 53% of the revenue TTM Technologies broke down this way in fiscal 2025.

  1. United States$1.6B753%up 26% from 2024
  2. Other Than United States And Taiwan$1.1B738%up 17% from 2024
  3. Taiwan$257.0M79%down 6% from 2024
Regions by year
Regions202320242025
United States$1.3B$1.2B$1.6B
Other Than United States And Taiwan$792.5M$936.1M$1.1B
Taiwan$177.0M$274.3M$257.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue79¢$2.3B
  • Research and development1¢$29.0M
  • Other costs12¢$362.4M
  • Income tax1¢$32.9M
  • Profit6¢$177.4M

Out of $2.9B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending94¢$292.6M
  • Share buybacks6¢$17.9M

Out of $291.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Revenue8910117$2.9B in 2025+36% since 2019
0$1.0B$2.0B$3.0B2019: $2.1B$2.1B20192020: $2.1B$2.1B2020−1%2022: $2.2B$2.2B2022+7%2023: $2.5B$2.5B2023+11%2024: $2.4B$2.4B2024−2%2025: $2.9B$2.9B2025+19%
Gross profit8910117$601.7M in 2025+60% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $377.2M$377.2M20192020: $359.0M$359.0M2020−5%2022: $372.0M$372.0M2022+4%2023: $458.0M$458.0M2023+23%2024: $477.4M$477.4M2024+4%2025: $601.7M$601.7M2025+26%
Operating income8910117$264.7M in 2025+141% since 2019
0$100.0M$200.0M$300.0M2019: $109.6M$109.6M20192020: $28.1M$28.1M2020−74%2022: $126.0M$126.0M2022+348%2023: $210.4M$210.4M2023+67%2024: $116.0M$116.0M2024−45%2025: $264.7M$264.7M2025+128%
Net income8910117$177.4M in 2025+330% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $41.3M$41.3M20192020: $177.5M$177.5M2020+330%2022: $54.4M$54.4M2022−69%2023: $94.6M$94.6M2023+74%2024: $56.3M$56.3M2024−40%2025: $177.4M$177.4M2025+215%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Net sales$2.9B$2.4B$2.2B
Cost of goods sold$2.3B$2.0B$1.8B
Gross profit$601.7M$477.4M$413.3M
Selling and marketing$85.5M$80.0M$76.9M
General and administrative$192.1M$170.1M$149.6M
Research and development$29.0M$31.8M$27.3M
Amortization of definite-lived intangibles$27.6M$35.5M$48.7M
Impairment of goodwill$0$32.6M$44.1M
Restructuring charges$2.8M$11.2M$24.4M
Total operating expenses$337.0M$361.3M$371.0M
Operating income$264.7M$116.0M$42.3M
Interest expense-$45.3M-$47.5M-$48.1M
Loss on extinguishment of debt$0$0-$1.2M
Gain on sale of subsidiary$0$0$1.3M
Other, net-$9.0M$15.4M$6.0M
Total other expense, net-$54.3M-$32.1M-$42.0M
Income before income taxes$210.3M$83.9M$297.0K
Income tax provision-$32.9M-$27.6M-$19.0M
Net income (loss)$177.4M$56.3M-$18.7M
Basic earnings (loss) per share$1.73$0.55-$0.18
Diluted earnings (loss) per share$1.68$0.54-$0.18

Compare TTM Technologies with another company

The story

TTM Technologies, Inc. was founded in 1998 by Kent Alder in Redmond, Washington, via an acquisition of Pacific Circuits, Inc., and moved to Santa Ana, California, in 1999, after acquiring Power Circuits, Inc. Alder was previously the president of Lundahl Astro Circuits, Inc. in Logan, Utah, from 1987, and president and CEO of its successor ElectroStar, Inc. from 1994. After ElectroStar was acquired by the Tyco Printed Circuit Group in 1996, Alder served as that company's vice president before departing to found TTM.

TTM's original business was manufacturing printed circuit boards (PCBs) used in routers, switches, servers and memory modules, and its customers included General Electric, Motorola, and Solectron. In 2000, the company made its initial public offering (IPO) on the Nasdaq stock exchange. In 2002, TTM acquired Honeywell Advanced Circuits, Inc. for US$2 million, gaining a 281,000-square-foot (26,100 m2) factory in Chippewa Falls, Wisconsin (the largest PCB manufacturing facility in the country) and adding customers including Cisco, Sun Microsystems, and IBM. In 2006, TTM acquired the Tyco Printed Circuit Group for $226 million, expanding its business to specialized PCBs geared to the aerospace and defense sectors.

In 2010, TTM acquired the Hong Kong–headquartered Meadville Printed Circuit Group for $521 million, which expanded the company's footprint in Asia and extended its business to PCBs used in smartphones and tablets. In 2013, Tom Edman succeeded Alder as president of TTM, and in 2014 also succeeded him as CEO on Alder's retirement. In 2015, the company acquired Viasystems Group, Inc. for $950 million, marking its entry into the automotive industry and further expanding its presence in aerospace and defense. In 2018, TTM acquired Anaren, Inc. for $775 million, expanding to high-frequency radio and microwave microelectronics used in the space, defense, and telecommunications industries.

In 2019, TTM acquired intellectual property assets from i3 Electronics, Inc., citing a particular interest in i3's technology enabling very fine printed lines and spacing down to 25 microns. In 2020, TTM sold its mobile device business unit, comprising four facilities in China, to AKM Meadville Electronics (Xiamen) Co., Ltd., for $550 million. Also in 2020, TTM closed down its commercial assembly business unit, comprising three facilities in China. In 2022, TTM acquired Telephonics Corporation from Griffon Corporation for $330 million, further expanding its operations in aerospace and defense.

From Wikipedia’s article on TTM Technologies, shared under CC BY-SA 4.0.6

Leadership

Who has led TTM Technologies, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (40)

Products and brands

TTM Technologies manufactures PCBs and radio-frequency and specialty (RF&S) components for industries including aerospace and defense (45% of revenue in 2023); medical and industrial (17%); automotive (16%); data center computing (14%); and networking (8%). The company is one of the world's top five PCB manufacturers by revenue ($2.23 billion in 2023), and the largest PCB manufacturer in North America. As of 2017, TTM was also the largest supplier of PCBs to the U.S. military, primarily as a subcontractor. In 2020, TTM had about 1,600 customers, and its five largest original equipment manufacturer customers (not in order) were Huawei, Lockheed Martin, Northrop Grumman, Raytheon, and Bosch. In 2015, the company's five largest customers were Apple, Cisco, Huawei, Juniper Networks, and Bosch, and in 2010 they were Apple, Cisco, Ericsson, Huawei, and IBM.

As of 2026, the company employs about 15,800 people and operates facilities across North America and Asia, including:

Corporate offices in Santa Ana, California; Hong Kong; Bengaluru, India; Kanagawa, Japan; St. Louis, Missouri; and Taoyuan, Taiwan.

A&D Sector facilities in Chippewa Falls, Wisconsin; Denver, Colorado; Farmingdale, New York; Forest Grove, Oregon; North Jackson, Ohio; Salem, New Hampshire; San Diego, California; Santa Ana, California; Stafford, Connecticut; Stafford Springs, Connecticut; Sterling, Virginia; and Syracuse, New York.

Read the full text

Commercial Sector facilities in Logan, Utah; San Jose, California; Toronto, Ontario; Dongguan, Guangzhou, Huiyang, Suzhou, and Zhongshan, China; Penang, Malaysia; and Küssnacht, Switzerland.

Engineering centers in Chippewa Falls, Guangzhou, and Binghamton, New York.

From Wikipedia’s article on TTM Technologies, shared under CC BY-SA 4.0.6

Timeline

  1. Sep 4, 2025New chief executive Edwin Roks becomes CEO15
  2. Apr 20, 2018New chief executive Lawrence A. Sala becomes CEO16
  3. Jan 9, 2014New chief executive Thomas T. Edman becomes CEO17
  4. Apr 19, 2010New chief executive Tai Keung Chung becomes CEO18
  5. Jan 6, 2006New chief executive Kenton K. Alder becomes CEO19
  6. 2000Went public Listed on NASDAQ1
  7. 1998Founded Founded1

Filings

609 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 52 major events, 312 insider forms, 28 large holders, 197 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Sep 30, 20268-K EDGAR
  3. Sep 24, 20268-K EDGAR
  4. Sep 11, 2026144 EDGAR
  5. Sep 10, 20268-K EDGAR
  6. Sep 3, 20264 EDGAR
  7. Aug 25, 2026144 EDGAR
  8. Aug 25, 20264 EDGAR
  9. Aug 25, 20264 EDGAR
  10. Aug 24, 20264 EDGAR
  11. Aug 17, 20268-K EDGAR
  12. Aug 10, 2026144 EDGAR
  13. Aug 10, 20264 EDGAR
  14. Aug 6, 20268-K/A EDGAR
  15. Aug 6, 20268-K EDGAR
  16. Aug 5, 202610-Q EDGAR
  17. Jul 30, 2026SCHEDULE 13G/A EDGAR
  18. Jun 29, 20264 EDGAR
  19. Jun 29, 20264 EDGAR
  20. Jun 29, 20264 EDGAR

The 609 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 28 such filings since October 2021, the latest 10:

  1. Jul 30, 2026SCHEDULE 13G/A
  2. Apr 30, 2026SCHEDULE 13G
  3. Apr 29, 2026SCHEDULE 13G
  4. Apr 24, 2026SCHEDULE 13G/A
  5. Apr 9, 2026SCHEDULE 13G/A
  6. Mar 27, 2026SCHEDULE 13G/A
  7. Oct 9, 2025SCHEDULE 13G/A
  8. Apr 15, 2025SCHEDULE 13G/A
  9. Nov 14, 2024SCHEDULE 13G/A
  10. Feb 14, 2024SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.10,979,290$2.1B0.0%−2,658,468
Vanguard Portfolio Management LLC5,637,672$1.1B0.0%−760,297
Vanguard Capital Management LLC4,681,367$875.5M0.0%+217,826
Whale Rock Capital Management LLC4,230,575$791.2M6.4%+716,015
Invesco Ltd.4,184,872$782.7M0.1%−994,643
State Street Corp3,296,584$616.5M0.0%−517,171
Jane Street Group, LLC2,756,443$515.5M0.3%+1,918,712
Lone Pine Capital LLC2,738,075$512.1M3.1%New
Dimensional Fund Advisors LP2,645,697$494.8M0.1%−1,665,397
Fmr LLC2,537,491$474.6M0.0%+30,231
Geode Capital Management, LLC2,522,806$473.3M0.0%−633,379
Wellington Management Group Llp2,268,404$424.2M0.1%+867,255
Capital World Investors2,004,242$374.8M0.0%+1,369,236
Polar Capital Holdings Plc1,965,915$367.7M1.0%−958,370
Jpmorgan Chase & Co1,863,572$349.0M0.0%+354,284
Castle Hook Partners LP1,781,121$333.1M3.6%−333,013
Arrowstreet Capital, Limited Partnership1,765,252$330.1M0.1%−444,378
Norges Bank1,273,139$238.1M0.0%New
Goldman Sachs Group Inc1,122,923$210.0M0.0%+161,784
Atalan Capital Partners, LP1,011,840$189.2M11.6%+243,550
Morgan Stanley923,826$172.8M0.0%+143,664
Northern Trust Corp894,035$167.2M0.0%−398,823
Charles Schwab Investment Management Inc874,674$163.6M0.0%−316,623
Massachusetts Financial Services Co /ma/793,427$151.7M0.0%+117,123
Aqr Capital Management LLC777,177$145.3M0.1%+40,461

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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