As of May 27, 2025, TTM Technologies Inc has a Discounted Cash Flow (DCF) derived fair value of $44.08 per share. With the current market price at $28.59, this represents a potential upside of 54.2%.
| Key Metrics | Value |
|---|---|
| DCF Fair Value (5-year) | $35.15 |
| DCF Fair Value (10-year) | $44.08 |
| Potential Upside (5-year) | 23.0% |
| Potential Upside (10-year) | 54.2% |
| Discount Rate (WACC) | 7.5% - 9.9% |
Revenue is projected to grow from $2443 million in 12-2024 to $4877 million by 12-2034, representing a compound annual growth rate of approximately 7.2%.
| Fiscal Year | Revenue (USD millions) | Growth |
|---|---|---|
| 12-2024 | 2443 | 9% |
| 12-2025 | 2688 | 10% |
| 12-2026 | 2843 | 6% |
| 12-2027 | 2953 | 4% |
| 12-2028 | 3164 | 7% |
| 12-2029 | 3363 | 6% |
| 12-2030 | 3668 | 9% |
| 12-2031 | 3990 | 9% |
| 12-2032 | 4245 | 6% |
| 12-2033 | 4538 | 7% |
| 12-2034 | 4877 | 7% |
Net profit margin is expected to improve from 2% in 12-2024 to 8% by 12-2034, driven by operational efficiency and economies of scale.
| Fiscal Year | Net Profit (USD millions) | Profit Margin |
|---|---|---|
| 12-2024 | 56 | 2% |
| 12-2025 | 99 | 4% |
| 12-2026 | 137 | 5% |
| 12-2027 | 176 | 6% |
| 12-2028 | 224 | 7% |
| 12-2029 | 274 | 8% |
| 12-2030 | 299 | 8% |
| 12-2031 | 325 | 8% |
| 12-2032 | 346 | 8% |
| 12-2033 | 370 | 8% |
| 12-2034 | 398 | 8% |
with a 5-year average of $127 million. Projected CapEx is expected to maintain at approximately 5% of revenue.
Depreciation is based on an average useful life of 5 years for capital assets.
| Fiscal Year | D&A (USD millions) |
|---|---|
| 12-2025 | 136 |
| 12-2026 | 151 |
| 12-2027 | 162 |
| 12-2028 | 165 |
| 12-2029 | 165 |
| 12-2030 | 176 |
Net working capital is expected to increase gradually, with projected changes affecting free cash flow.
| Components | Average Days |
|---|---|
| Days Receivables | 119 |
| Days Inventory | 38 |
| Days Payables | 69 |
| Fiscal Year | EBITDA | Tax | CapEx | Change in NWC | FCF |
|---|---|---|---|---|---|
| 9M/2025 | 243 | 27 | 111 | 38 | 66 |
| 2026 | 394 | 51 | 156 | 53 | 134 |
| 2027 | 461 | 65 | 162 | 33 | 200 |
| 2028 | 533 | 83 | 174 | 57 | 220 |
| 2029 | 606 | 101 | 185 | 60 | 260 |
| Valuation Method | Fair Price (USD) | Potential Upside |
|---|---|---|
| 5-Year DCF (Growth) | 35.15 | 23.0% |
| 10-Year DCF (Growth) | 44.08 | 54.2% |
| 5-Year DCF (EBITDA) | 35.68 | 24.8% |
| 10-Year DCF (EBITDA) | 44.47 | 55.5% |
Is TTM Technologies Inc (TTMI) a buy or a sell? TTM Technologies Inc is definitely a buy. Based on our DCF analysis, TTM Technologies Inc (TTMI) appears to be significantly undervalued with upside potential of 54.2%. The company's strong projected growth in revenue and profitability, coupled with consistent capital expenditure, supports our positive outlook on its intrinsic value.
Key investment drivers include:
Investors should consider a strong buy at the current market price of $28.59.