Is TTM Technologies, Inc. overvalued or undervalued?

As of 8 September 2025, the valuation grade for TTM Technologies, Inc. has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is considered overvalued based on its current metrics. Key ratios include a P/E ratio of 37, an EV to EBITDA of 11.71, and a PEG ratio of 0.62, which suggests that despite the high P/E, the growth expectations may not justify the price.
In comparison to peers, TTM Technologies, Inc. has a higher P/E ratio than Camtek Ltd. at 30.24 and Bel Fuse, Inc. at 38.21, indicating that it is priced significantly higher relative to its earnings. Additionally, the company's EV to EBITDA ratio is lower than Knowles Corp.'s 20.30, further highlighting its relative valuation challenges. Notably, TTM Technologies has outperformed the S&P 500 significantly over various periods, with a year-to-date return of 113.49% compared to the S&P 500's 12.22%, reinforcing the notion of overvaluation amidst strong recent performance.