TTM Technologies(NASDAQ) TTMI

TTM Technologies makes the essential circuit boards and radar systems found in airplanes, cars, and data centers. These components act as the brains and nervous systems of electronics for defense and commercial businesses. The company helps engineers turn complex digital designs into physical products ready for mass production.

What TTM Builds

• Radar Systems: Multi-mode surveillance and weather avoidance systems for aircraft and ships; includes identifying friendly aircraft and civilian air traffic control.
• Advanced Interconnect Products: High-density and flexible printed circuit boards (PCBs) that pack more power into smaller, lighter electronic packages.
• RF Components: Radio frequency parts and assemblies used in 5G wireless networks and sophisticated military jamming or communication systems.
• Custom Assemblies: Mounting electronic parts onto boards and testing them to ensure everything works correctly before final installation.

Recent Strategic Moves

• Acquired Telephonics Corporation in 2022 to expand into integrated mission systems and advanced radar technology.
• Purchased Anaren, Inc. to strengthen capabilities in radio frequency and microwave components for defense and telecommunications.
• Opened a new manufacturing facility in Malaysia to diversify its global footprint beyond China and North America.
• Sold the Shanghai Backplane Assembly business to refine the company's focus on its core technology products.

Why TTM Stands Out

TTM operates 24 specialized facilities across North America and Asia, allowing it to move projects from fast prototyping to high-volume manufacturing. The company holds 185 patents and maintains strict security clearances required to build critical electronics for the U.S. government.

A Look at the Books

• Net sales reached $2.9 billion for the fiscal year ended December 29, 2025.
• Net income rose to $50.7 million in Q4 2025, up 880.4% from $5.2 million in Q4 2024.
• Operating income jumped to $76.9 million in Q4 2025, up 752% from $9 million year-over-year.
• Gross profit grew to $154.9 million in Q4 2025, a 22.4% increase over the same period in 2024.

Evolution of the Business

TTM has transitioned from a traditional circuit board maker into a designer of complex mission systems for the aerospace and defense sectors. This shift toward advanced engineering and diversified manufacturing helps the company navigate changing technology cycles and global trade needs.