TTMI Q4 Earnings & Revenues Surpass Estimates, Both Increase Y/Y

TTM Technologies TTMI reported fourth-quarter 2025 non-GAAP earnings per share (EPS) of 70 cents, marking an all-time quarterly record. The figure increased 42.9% from the year-ago quarter and beat the Zacks Consensus Estimate by 2.94%.

The company’s net sales of $774.3 million rose 18.9% year over year and surpassed the consensus estimate by 2.94%.

TTMI’s Q4 Top-Line Details

Segment-wise, Aerospace & Defense sales rose 3.9% year over year to $318 million, while Commercial revenues grew 32.2% to $448.5 million and RF&S Components sales increased 5.4% to $10.7 million.

TTMI’s end-market sales distribution in the reported quarter was dominated by Aerospace & Defense (41%), followed by Data Center Computing (28%), Medical, Industrial & Instrumentation (14%), Automotive (9%), and Networking (8%). Combined revenues from the data center computing and networking end markets rose to 36% of total company sales, supported by strong generative AI demand.

TTM Technologies, Inc. Price, Consensus and EPS Surprise

TTM Technologies, Inc. price-consensus-eps-surprise-chart | TTM Technologies, Inc. Quote

TTMI reported a fourth-quarter book-to-bill ratio of 1.35, with its Aerospace & Defense program backlog reaching $1.6 billion. On this revised basis (excluding shipments into customer hubs), the 90-day backlog increased to $0.65 billion from $0.50 billion in the year-ago quarter.

TTMI’s Operating Details

In the fourth quarter of 2025, TTM Technologies reported a non-GAAP gross margin of 21.7%, which expanded 120 basis points (bps) year over year, with a gross profit of $167.8 million.

Selling and marketing expenses increased 5.5% year over year to $21.1 million. General and administrative expenses rose 10.6% year over year to $50.1 million. However, research and development expenses declined 13.2% year over year to $6.9 million.

Adjusted EBITDA increased 31.8% year over year to $126.2 million in the reported quarter.

Non-GAAP operating income surged 49.4% year over year to $98.2 million. As a percentage of revenues, the operating margin expanded 260 bps year over year to 12.7%.

TTMI’s Balance Sheet & Cash Flow

As of Dec. 29, 2025, TTM Technologies’ cash and cash equivalents were $501.2 million, while total debt (short and long term) was $916.2 million.

In the reported quarter, net cash provided by operating activities was $62.9 million, while free cash flow was $11.7 million.

TTMI’s Q1 & 2026 Guidance

TTM Technologies expects first-quarter 2026 non-GAAP earnings between 64 cents and 70 cents per share. Net sales are anticipated to be between $770 million and $810 million.

For 2026, the company expects net sales to grow in the 15% to 20% range.

TTMI’s Zacks Rank & Other Stocks to Consider

TTM Technologies currently sports a Zacks Rank #1 (Strong Buy).

Amkor Technology AMKR, IPG Photonics IPGP and MKS Inc. MKSI are some other top-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector. Each stock flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Amkor Technology shares have surged 78.8% over the past year. AMKR is set to report its fourth-quarter 2025 results on Feb. 9, 2026.

IPG Photonics shares have appreciated 40.8% over the past year. IPGP is set to report its fourth-quarter 2025 results on Feb. 12, 2026.

MKS shares have soared 97.3% over the past year. MKSI is scheduled to report its fourth-quarter 2025 results on Feb. 17, 2026.

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This article originally published on Zacks Investment Research (zacks.com).

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