TTM Technologies
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TTM Technologies (TTMI) investor relations material

TTM Technologies Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary4 Feb, 2026

Executive summary

  • Q4 2025 net sales reached $774.3 million, up 19% year-over-year, with non-GAAP EPS of $0.70 per share, both exceeding guidance and setting records.

  • Full year 2025 net sales were $2.91 billion, up 19%, with non-GAAP EPS of $2.46, and strong growth in Data Center Computing, Networking, and Aerospace & Defense.

  • Four of five end markets posted double-digit sales growth, led by Data Center Computing (up 57% in Q4) and Networking (up 23% in Q4), while Automotive declined.

  • Strategy centers on advanced interconnect technologies, with 80% of net sales tied to AI and defense megatrends, and investments in global manufacturing capacity.

  • All growth targets and earnings doubling ambitions are based on organic growth, not M&A.

Financial highlights

  • Q4 2025 net sales: $774.3 million; full year: $2.91 billion.

  • Q4 2025 GAAP net income: $50.7 million ($0.48/share); full year: $177.4 million ($1.68/share).

  • Q4 2025 non-GAAP net income: $74.8 million ($0.70/share); full year: $259 million ($2.46/share).

  • Q4 2025 adjusted EBITDA: $126.2 million (16.3% margin); full year: $456.3 million (15.7% margin).

  • Q4 2025 operating cash flow: $62.9 million (8.1% of sales); full year: $291.9 million (10% of sales).

Outlook and guidance

  • Q1 2026 net sales projected at $770–$810 million; non-GAAP EPS forecasted at $0.64–$0.70.

  • Full year 2026 net sales expected to grow 15%–20% over 2025.

  • Q1 2026 profitability expected to be seasonally lower due to higher labor costs from Chinese New Year.

  • Continued double-digit growth forecasted in Data Center Computing, Medical/Industrial/Instrumentation, and Networking for Q1 2026.

  • SG&A expected at 8.5% of net sales, R&D at 1% of net sales for Q1 2026.

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Frequently asked questions

TTM Technologies Inc is a manufacturer of printed circuit boards and radio frequency components used in electronics. The company serves a wide range of end markets including aerospace and defense, automotive, industrial, computing, and telecommunications. Its capabilities span quick-turn prototyping to high-volume production. The company is headquartered in Santa Ana, California, and its shares are listed on the NASDAQ.

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