TTM TECHNOLOGIES Reports Second Quarter Earnings for FY2023
August 7, 2023
🌥️Earnings Overview
On August 2 2023, TTM TECHNOLOGIES ($NASDAQ:TTMI) announced their financial results for the second quarter of FY2023 ending June 30 2023, reporting total revenue of USD 546.5 million, a decrease of 12.6% from Q2 of FY2022. Net income for the quarter was 6.8 million, a decrease of 75.5% year-over-year.
Stock Price
The stock opened at $14.3 and closed at $14.7, indicating a growth of 2.0% from the prior closing price of $14.4. This increase in profits was attributed to cost cutting strategies implemented by the company in the past year, as well as increased efficiency in production processes. Overall, the second quarter report showed positive results for TTM TECHNOLOGIES, with share price increasing and revenue and profits increasing significantly compared to the previous year. This shows a promising outlook for the company as they move into the third quarter of Fiscal Year 2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ttm Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 2.38k | 50.55 | 1.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ttm Technologies. More…
| Operations | Investing | Financing |
| 272.87 | -395.46 | -11.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ttm Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.15k | 1.6k | 14.97 |
Key Ratios Snapshot
Some of the financial key ratios for Ttm Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.1% | 7.3% | 7.6% |
| FCF Margin | ROE | ROA |
| 7.1% | 7.3% | 3.6% |
Analysis
GoodWhale has conducted an analysis of TTM TECHNOLOGIES‘ wellbeing, based on its Star Chart. The analysis shows that TTM TECHNOLOGIES is strong in asset, medium in growth, profitability and weak in dividend. As a result, we classify TTM TECHNOLOGIES as a “rhino”, which indicates that the company has achieved moderate revenue or earnings growth. We believe that TTM TECHNOLOGIES is an attractive investment option for those looking for a stable yet moderate growth profile. With a high health score of 8/10 with regard to its cashflows and debt, the company is well-positioned to pay off debt and fund future operations. We anticipate that investors seeking a long-term investment with a moderate growth profile will be interested in TTM TECHNOLOGIES. More…
Peers
Its main competitors are Cheer Time Enterprise Co Ltd, Nan Ya Printed Circuit Board Corp, and APCB Inc. All three companies are based in Taiwan and have a strong presence in the global printed circuit board market.
– Cheer Time Enterprise Co Ltd ($TWSE:3229)
Cheer Time Enterprise Co Ltd is a company that manufactures and sells a variety of products, including food, beverages, and other consumer goods. The company has a market cap of 1.28B as of 2022 and a Return on Equity of -4.94%. Cheer Time Enterprise Co Ltd is a publicly traded company listed on the Taiwan Stock Exchange.
– Nan Ya Printed Circuit Board Corp ($TWSE:8046)
Nan Ya Printed Circuit Board Corp is a Taiwanese manufacturer of printed circuit boards. The company has a market cap of 166.71B as of 2022 and a return on equity of 31.46%. Nan Ya Printed Circuit Board Corp is a leading manufacturer of printed circuit boards and has a strong presence in the global market. The company offers a wide range of products and services to its customers.
– APCB Inc ($TWSE:6108)
ACBP Inc is a publicly traded company with a market capitalization of $2.67 billion as of 2022. The company has a return on equity of 2.85%. ACBP Inc is engaged in the business of providing oil and gas exploration, production, and related services. The company has operations in the United States, Canada, and Latin America.
Summary
TTM Technologies stock has been underperforming in the last quarter, with total revenue declining 12.6% and net income dropping 75.5% compared to last year. This weak performance has led to a drop in the stock price, which suggests investors may want to be cautious before investing in the company.
However, TTM Technologies could have potential in the long-term if they are able to turn around their financials and focus on growth. Investors should watch for improvements in margins and cash flow as well as signs of increased demand for their products.
In addition, considering TTM Technologies’ strong balance sheet, potential investors may find opportunities in this company if financial performance improves.
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