TTM Technologies, Inc

TTM Technologies is a U.S.-based manufacturer of advanced printed circuit boards, substrates, RF components, and engineered electronic assemblies. Its operations are organized around specialized facilities in North America and Asia that serve customers in aerospace and defense, data center computing, automotive, medical, industrial, instrumentation, and networking.

12,9 %

20,7 %

6,1 %

+19,0 %

1.93

1.67

— TTM Technologies, Inc
%
Advanced PCBs and substrates55% Technologically advanced interconnect products, including PCB and substrate fabrication.
Engineered systems20% Custom mission systems and long-term defense-related electronic solutions.
RF and microwave components15% RF components, microwave assemblies, and related microelectronic products.
Specialty assemblies and subsystems10% Customized assemblies, subsystems, and completed systems for advanced electronics.

TTM sells to OEMs, EMS providers, ODMs, distributors, and government agencies, with sales often flowing through EMS...

  • Aerospace and defenseprimary

    Buys mission systems, RF/microwave assemblies, and advanced PCBs for radar, communications, and surveillance programs.

  • Data center computingprimary

    Buys high-complexity interconnect products used in servers, switches, and related infrastructure.

  • Automotivesecondary

    Buys advanced PCB and interconnect solutions for electronic content in vehicles.

  • Medical, industrial, and instrumentationsecondary

    Buys specialized boards and assemblies for equipment requiring reliability and precision.

  • Networkingsecondary

    Buys PCBs and assemblies for communications and network hardware.

TTM operates 24 specialized facilities across North America and Asia, with manufacturing capacity in the United States,...

  • •24 specialized facilities in North America and Asia
  • •PCB fabrication plants in the United States, China, Malaysia, and Canada
  • •RF component manufacturing in the United States and China
  • •Global sales coverage across North America, Europe, Asia, and the Middle East
  • •Asia footprint supports commercial electronics manufacturing scale

TTM’s strategy centers on being a one-stop design, engineering, and manufacturing partner for complex electronics...

01
Grow advanced technology contentmedium-term

Higher-complexity PCBs, substrates, and RF products are central to differentiation.

02
Support time-to-market and ramp-to-volume programsshort-term

Customers value a supplier that can move from prototype to production quickly.

03
Balance defense and commercial end marketsmedium-term

Diversification reduces dependence on any single electronics cycle.

TTM is exposed to customer concentration, electronics-cycle volatility, and supply-chain disruptions because its...

high

Customer concentration

A small number of OEMs account for a large share of sales, so lost programs can materially affect revenue.

Scope
Five largest OEM customers and EMS-linked demand
Materiality
High
high

Supply-chain disruption

The company depends on timely delivery of raw materials, components, and equipment to meet customer schedules.

Scope
Global manufacturing and specialized inputs
Materiality
High
medium

End-market cyclicality

Demand in aerospace and defense, automotive, and electronics can vary with budgets and macro conditions.

Scope
Aerospace and defense, automotive, data center computing
Materiality
High
medium

Credit risk from customers

Sales are often on open credit terms, and receivables can build when customers or EMS providers weaken.

Scope
OEMs and EMS providers
Materiality
Medium
medium

Acquisition and goodwill impairment risk

Purchased businesses and intangibles may not deliver expected benefits and can require impairment charges.

Scope
M&A and integration activities
Materiality
Medium
Revenue recognition over time vs point in time
Affects revenue timing, gross margin pattern, and quarter-to-quarter comparability
Sales returns and allowances
Can change reported revenue and reserve levels
Allowance for doubtful accounts
Affects receivables and operating expense
Goodwill and intangible assets
Can create non-cash charges to earnings

TTM TECHNOLOGIES INC

TTMI · Printed Circuit Boards

Ericsson B

ERIC-B.ST · Telecommunications

Beijer Ref

BEIJ-B.ST · Industrials

Bufab

BUFAB.ST · Industrials

Apotea

APOTEA.ST · Consumer Staples

BE Group

BEGR.ST · Basic Materials

: 29.4.2026