What a time it’s been for TTM Technologies. In the past six months alone, the company’s stock price has increased by a massive 40.2%, reaching $135.36 per share. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
Following the strength, is TTMI a buy right now? Or is the market overestimating its value? Find out in our full research report, it’s free.
Why Are We Positive on TTM Technologies?
As one of the world's largest printed circuit board manufacturers with facilities spanning North America and Asia, TTM Technologies (NASDAQ: TTMI) manufactures printed circuit boards (PCBs) and radio frequency (RF) components for aerospace, defense, automotive, and telecommunications industries.
1. Long-Term Revenue Growth Shows Strong Momentum
Reviewing a company’s long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, TTM Technologies grew its sales at a solid 7.5% compounded annual growth rate. Its growth surpassed the average business services company and shows its offerings resonate with customers.
2. Projected Revenue Growth Is Remarkable
Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite, though some deceleration is natural as businesses become larger.
Over the next 12 months, sell-side analysts expect TTM Technologies’s revenue to rise by 32.8%, an improvement versus its 7.5% annualized growth for the past five years. This projection is eye-popping and suggests its newer products and services will spur better top-line performance.
3. Outstanding Long-Term EPS Growth
Analyzing the long-term change in earnings per share (EPS) shows whether a company’s incremental sales were profitable — for example, revenue could be inflated through excessive spending on advertising and promotions.
TTM Technologies’s EPS grew at 18.4% compounded annual growth rate over the last five years, higher than its 7.5% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.
Final Judgment
These are just a few reasons TTM Technologies is a rock-solid business worth owning, and after the recent rally, the stock trades at 33× forward P/E (or $135.36 per share). Is now the right time to buy? See for yourself in our full research report, it’s free.
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