TTM TECHNOLOGIES INC

Listed Company

TTMICIK 0001116942NasdaqLarge AcceleratedPrinted Circuit BoardsDelawareFY ends Dec 28

Period

FY 2025

Revenue

$2.91B

Net Income

$177.45M

Total Assets

$3.84B

Equity

$1.76B

Shares Out

103.40M

Op. Cash Flow

$291.88M

Business

TTM TECHNOLOGIES INC is a global manufacturer of advanced hardware technology solutions focused on printed circuit boards (PCBs), radio frequency (RF) components, RF/microwave assemblies, and integrated mission systems. It offers engineered systems, RF and microwave assemblies, passive and ceramic RF components, HDI, substrate-like, flexible, rigid-flex and conventional PCBs, IC substrates, custom assemblies, and value-added services such as design-for-manufacturability, layout, simulation, testing, and quick-turn production. The company reports two primary segments: PCB and RF & Specialty Components. It distributes products through a global manufacturing footprint and direct sales to OEMs, EMS/ODM partners, distributors, and government agencies across North America, Asia, Europe, and the Middle East.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,906	2,443	2,233	2,495	2,249
Cost of goods sold	2,305	1,965	1,819	2,037	1,877
Gross profit	602	477	413	458	372
Selling and marketing	85	80	77	75	63
General and administrative	192	170	150	158	125
Research and development	29	32	27	25	18
Amortization of definite-lived intangibles	28	36	49	—	—
Impairment of goodwill	0	33	44	0	0
Restructuring charges	3	11	24	4	4
Total operating expenses	337	361	371	248	246
Operating income	265	116	42	210	126
Interest expense	−45	−48	−48	−46	—
Loss on extinguishment of debt	0	0	−1	0	−15
Gain on sale of subsidiary	0	0	1	0	0
Other, net	−9	15	6	18	5
Total other expense, net	−54	−32	−42	−28	−56
Income before income taxes	210	84	297,000	183	70
Income tax provision	−33	−28	−19	−88	−16
Net income (loss)	177	56	−19	95	54
Basic earnings (loss) per share	1.73	0.55	−0.18	0.93	0.51
Diluted earnings (loss) per share	1.68	0.54	−0.18	0.91	0.5

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	501	504	450	403	538
Accounts receivable, net	564	449	414	473	386
Contract assets	468	381	292	336	325
Inventories	250	225	213	171	128
Prepaid expenses and other current assets	72	48	54	41	31
Total current assets	1,855	1,607	1,430	1,493	1,407
Property, plant, and equipment, net	1,011	870	808	724	666
Operating lease right-of-use assets	81	78	86	19	21
Goodwill	670	670	703	760	637
Definite-lived intangibles, net	155	192	237	288	240
Deposits and other non-current assets	68	56	61	39	54
Total assets	3,840	3,472	3,324	3,324	3,026
Short-term debt, including current portion of long-term debt	4	4	4	—	—
Accounts payable	544	406	335	362	361
Contract liabilities	176	171	127	104	14
Accrued salaries, wages, and benefits	133	108	99	116	89
Other current liabilities	106	120	141	130	93
Total current liabilities	962	809	704	761	558
Long-term debt, net of discount and issuance costs	912	914	914	879	928
Operating lease liabilities	88	78	81	12	15
Other long-term liabilities	116	108	114	135	69
Total long-term liabilities	1,116	1,100	1,109	1,027	1,012
Commitments and contingencies (Note 11)	—	—	—	—	—
Common stock, $0.001 par value; 300,000 shares authorized; 115,197 and 113,161 shares issued as of December 29, 2025 and December 30, 2024, respectively; 103,379 and 101,997 shares outstanding as of December 29, 2025 and December 30, 2024, respectively	115,000	113,000	111,000	110,000	108,000
Treasury stock - common stock at cost; 11,818 and 11,164 shares as of December 29, 2025 and December 30, 2024, respectively	−175	−158	−123	−99	−64
Additional paid-in capital	952	911	881	858	840
Retained earnings	1,016	838	782	801	706
Accumulated other comprehensive loss	−31	−28	−29	−25	−27
Total stockholders equity	1,762	1,564	1,511	1,536	1,455
Total liabilities and stockholders' equity	3,840	3,472	3,324	3,324	3,026

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income (loss)	177	56	−19	95	54
Depreciation of property, plant, and equipment	110	105	99	91	—
Amortization of definite-lived intangible assets	37	45	62	—	—
Amortization of debt discount and issuance costs	2	2	2	2	2
Deferred income taxes	3	−2	−11	61	10
Stock-based compensation	42	30	23	20	18
Gain on sale of subsidiary	0	0	−1	0	0
Other	5	−2	−516,000	−5	−10
Accounts receivable, net	−115	−35	50	−36	−5
Contract assets	−87	−89	43	16	−52
Inventories	−25	−12	−45	−4	−12
Prepaid expenses and other assets	−22	−3	−6	−15	−5
Accounts payable	139	50	−35	−15	41
Contract liabilities	5	44	23	25	10
Accrued salaries, wages, and benefits	24	10	−16	15	−8
Other liabilities	−4	5	−25	33	−9
Net cash provided by operating activities	292	237	187	273	177
Purchases of property, plant, and equipment and other assets	−293	−186	−160	−103	−82
Proceeds from capital-related government incentives	18	0	0	—	—
Proceeds from sale of property, plant, and equipment and other assets	781,000	33	505,000	6	1
Proceeds from sale of SH E-MS property	0	7	62	0	0
Proceeds from sale of subsidiary, net of cash disposed	0	0	6	0	0
Other	0	−76,000	−101,000	−245,000	−431,000
Net cash used in investing activities	−274	−146	−92	−395	−84
Repurchases of common stock	−18	−34	−24	−35	−65
Repayment of long-term debt borrowings	−4	−10	−292	0	−426
Customer deposits	2	0	0	25	0
Proceeds from exercise of stock options	236,000	0	0	—	—
Proceeds from long-term debt borrowings	0	8	235	0	500
Payment of debt issuance costs	0	−1	−5	0	−6
Proceeds from borrowings of revolving loan	0	0	50	50	0
Refund of customer deposits	0	0	−8	0	0
Payment of original issue discount	0	0	−4	0	0
Other	−987,000	0	0	0	−7
Net cash used in financing activities	−21	−37	−48	−11	−7
Effect of foreign currency exchange rates on cash and cash equivalents	281,000	−139,000	−122,000	−1	856,000
Net (decrease) increase in cash and cash equivalents	−3	54	47	−135	86
Cash paid, net for interest	46	49	48	43	42
Cash paid, net for income taxes	37	19	54	5	5
Property, plant, and equipment recorded in accounts payable and other current liabilities	63	77	117	32	33
Cashless rollover of debt	0	340	115	0	—

Filings

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