TTM Technologies currently trades at $116.27 and has been a dream stock for shareholders. It’s returned 788% since September 2021, blowing past the S&P 500’s 71.6% gain. The company has also beaten the index over the past six months as its stock price is up 19.2% thanks to its solid quarterly results.
Is now still a good time to buy TTMI? Or are investors being too optimistic? Find out in our full research report, it’s free.
Why Are We Positive on TTMI?
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. Skyrocketing Revenue Shows Strong Momentum
Examining a company’s long-term performance can provide clues about its quality. Any business can have short-term success, but a top-tier one grows for years. Luckily, TTM Technologies’s sales grew at an impressive 9.6% compounded annual growth rate over the last five years. Its growth beat 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 52.3%, an improvement versus its 9.6% annualized growth for the past five years. This projection is eye-popping and indicates 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 20.8% compounded annual growth rate over the last five years, higher than its 9.6% 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 why we think TTM Technologies is a great business, and with its shares topping the market in recent months, the stock trades at 18× forward P/E (or $116.27 per share). Is now a good time to initiate a position? See for yourself in our full research report, it’s free.
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