A Look At TTM Technologies (TTMI) Valuation After Q1 Beat And Strong AI Fueled Outlook

TTM Technologies (TTMI) drew fresh attention after reporting first quarter 2026 results that beat analyst expectations on both revenue and earnings, along with guidance for higher second quarter sales and profits.

See our latest analysis for TTM Technologies.

The recent Q1 beat and strong Q2 guidance arrived on top of powerful momentum, with a 30 day share price return of 63.10% and a year to date share price return of 125.17%, while the five year total shareholder return is close to 10x.

If strong AI and data center demand has you rethinking your watchlist, this could be a good moment to look beyond TTMI and check out 38 AI infrastructure stocks.

After a run like this, the key question is whether TTMI’s strong AI and aerospace exposure, together with its record recent results, still leave a valuation gap, or if the market is already paying up for years of future growth.

Most Popular Narrative: 26.9% Overvalued

Compared with the last close at $158.99, the most followed narrative points to a fair value of $125.25, which implies a sizeable valuation gap to the downside.

Large-scale data center buildouts announced by tech giants (e.g., Google, CoreWeave, Meta) and TTM's new Wisconsin facility position the company to capture outsized demand for advanced PCBs and interconnects required for AI and cloud infrastructure, directly supporting revenue growth and long-term customer relationships.

Read the complete narrative.

Want to see what kind of revenue ramp, margin lift, and future earnings multiple this narrative assumes to justify that fair value gap? The projections behind it rely on compounding growth, a step change in profitability, and a premium earnings multiple that hinges on TTMI sustaining those improvements over several years.

Result: Fair Value of $125.25 (OVERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, you still need to weigh execution risks around high cost U.S. capacity and customer concentration, as these factors could quickly change how this overvaluation story plays out.

Find out about the key risks to this TTM Technologies narrative.

Another Take On Value: Cash Flows Tell a Different Story

While the most popular narrative flags TTMI as 26.9% overvalued at $158.99 versus a $125.25 fair value, the SWS DCF model points the other way, with an estimate of $198.25. That implies the current price sits about 19.8% below this cash flow based view. Which lens do you trust more: earnings multiples or long term cash generation?

Look into how the SWS DCF model arrives at its fair value.

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out TTM Technologies for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 49 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.

Next Steps

With such mixed conclusions on value, sentiment around TTMI is clearly split. Move fast, look through the data yourself, and weigh the 3 key rewards and 2 important warning signs.

Looking for more investment ideas?

Do not stop at a single stock when there are focused lists of opportunities ready for you, built to help you move quickly and avoid decision fatigue.

• Target potential value opportunities by scanning companies that combine quality fundamentals with pricing that may look appealing using the 49 high quality undervalued stocks.
• Prioritize resilience by checking stocks that show stronger balance sheets and financial foundations through the solid balance sheet and fundamentals stocks screener (44 results).
• Hunt for lesser known opportunities by reviewing a screener containing 25 high quality undiscovered gems.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com