Skip to main content

TTM TECHNOLOGIES INC

For the period ended Dec 29, 2025. Filed Feb 17, 2026.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 17, 2026

TTMI$75.33+13.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 29,2025

Or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from_____________ to_____________

Commission file number 000-31285

(Exact Name of Registrant as Specified in Its Charter)

Delaware91-1033443
(State or Other Jurisdiction ofIncorporation or Organization)(I.R.S. EmployerIdentification No.)
200 East Sandpointe, Suite 400Santa Ana, California92707(Zip Code)
(Address of Principal Executive Offices)

(714)327-3000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbol(s)Name of each exchange on which registered
Common Stock, $0.001 par valueTTMINasdaq Global Select Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐ No ☑

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer☑Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☑

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No ☑

The aggregate market value of Common Stock held by non-affiliates of the registrant (based on the closing price of the registrant’s Common Stock as reported on the Nasdaq Global Select Market on June 30, 2025, the last business day of the most recently completed second fiscal quarter), was$4,165,937,635. For purposes of this computation, all officers, directors, and 10% beneficial owners of the registrant are deemed to be affiliates of the registrant. Such determination should not be deemed to be an admission that such officers, directors, or 10% beneficial owners are, in fact, affiliates of the registrant.

As of February 11, 2026, there were outstanding 103,404,925 shares of the registrant’s Common Stock, $0.001 par value.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s definitive Proxy Statement for its 2026 Annual Meeting of Stockholders will be incorporated by reference into Part III of this Annual Report on Form 10-K. Such Proxy Statement, or an amendment to this Report, will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.

Auditor Firm Id:185Auditor Name:KPMG LLPAuditor Location:Irvine, CA

ANNUAL REPORT ON FORM 10-K

TABLE OF CONTENTS

PART I
ITEM 1.BUSINESS4
ITEM 1A.RISK FACTORS13
ITEM 1B.UNRESOLVED STAFF COMMENTS24
ITEM 1C.CYBERSECURITY24
ITEM 2.PROPERTIES27
ITEM 3.LEGAL PROCEEDINGS27
ITEM 4.MINE SAFETY DISCLOSURES27
PART II
ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES28
ITEM 6.RESERVED29
ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS30
ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK39
ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA40
ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE41
ITEM 9A.CONTROLS AND PROCEDURES41
ITEM 9B.OTHER INFORMATION41
ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS42
PART III
ITEM 10.DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE43
ITEM 11.EXECUTIVE COMPENSATION43
ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS43
ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE43
ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES43
PART IV
ITEM 15.EXHIBITS, FINANCIAL STATEMENT SCHEDULES44
SIGNATURES47
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS48

Glossary of Terms and Acronyms

The following table provides definitions of certain terms and acronyms that may be used within the text of this report.

2025 Repurchase ProgramShare repurchase program authorized by the Board of Directors on May 8, 2025NISPOMNational Industrial Security Program Operating Manual
A&DAerospace and DefenseNOLsNet operating losses
ABL Revolving LoansU.S. ABL and Asia ABL, collectivelyOBBBAOne Big Beautiful Bill Act
AESAActive electronically scanned arrayODMsOriginal design manufacturers
AIArtificial intelligenceOECDOrganization for Economic Co-operation and Development
Asia ABLAsia Asset-Based Lending Credit AgreementOEMsOriginal equipment manufacturers
ASICsApplication Specific Integrated CircuitsPCBPrinted circuit board
ASUAccounting Standards UpdatePlan2023 Incentive Compensation Plan
CEOChief Executive OfficerPRUsPerformance-based restricted stock units
CFOChief Financial OfficerQTAQuick turnaround
CICCustom Integrated CircuitR&DResearch and development
CIRTCybersecurity Incident Response TeamREACHRegistration, Evaluation, Authorisation and Restriction of Chemicals
CMEChicago Mercantile ExchangeReportThis Annual Report on Form 10-K for the fiscal year ended December 29, 2025
CODMChief operating decision makerRFRadio frequency
CompanyTTM Technologies, Inc.RF&S ComponentsRF and Specialty Components
DCFDiscounted cash flowRMBRenminbi
DCSADefense Counterintelligence and Security AgencyRoHSRestriction of Hazardous Substances
DFMDesign-for-manufacturabilityROURight-of-use
DoWU.S. Department of WarRSUsRestricted stock units
EARExport Administration RegulationsSBRSpecial Board Resolution
EBITDAEarnings before interest, tax, depreciation, and amortization expenseSECSecurities and Exchange Commission
EMSElectronic manufacturing servicesSH E-MSShanghai E-MS
ERPEnterprise resource planning systemSLPSubstrate-like PCB
Exchange ActSecurities Exchange Act of 1934, as amendedSOFRSecured Overnight Financing Rate
FASBFinancial Accounting Standards BoardSSASpecial Security Agreement
FCPAForeign Corrupt Practices ActSVHCsSubstances of Very High Concern
GuarantorsSubsidiary Guarantors of the Company, subject to certain exceptionsSVP-ITSenior Vice President of Information Technology
HDIHigh-Density InterconnectTelephonicsTelephonics Corporation and ISC Farmingdale Corp.
HNTEHigh and new technology enterpriseTerm Loan FacilityFirst Amendment, dated as of August 1, 2024, to that certain Amended and Restated Term Loan Credit Agreement, dated as of May 30, 2023
ICIntegrated circuitTSRTotal stockholder return
IFFIdentification Friend or FoeTTMTTM Technologies, Inc.
ITInformation technologyU.S. ABLU.S. Asset-Based Lending Credit Agreement
ITARInternational Traffic in Arms RegulationsU.S. ABL Priority CollateralPerfected first priority security interest in certain deposit accounts, cash and cash equivalents, accounts receivable, and certain U.S. inventory
MIDAMalaysia Investment Development AuthorityU.S. GAAPAccounting principles generally accepted in the United States of America
MYRMalaysian ringgitUSGU.S. federal government
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.