Filing Flows › TTM Technologies (TTMI) › Q3 2025
TTM Technologies (TTMI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
TTM Technologies (TTMI) reported revenue of $753M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +3% from the quarter before. Operating margin was 9.6%, net earnings $53.1M (7.0% of revenue).
TTM Technologies, Q3 2025: revenue $753M (+22% year over year), operating margin 9.6%, net earnings $53.1M, operating cash flow $142M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $753M | +3% | +22% |
| Gross profit | $157M | +6% | +21% |
| Operating profit | $71.9M | +16% | +41% |
| Net earnings | $53.1M | +28% | +271% |
| Operating cash flow | $142M | +45% | +118% |
| Free cash flow | $42.6M | — | +76% |
What changed
Revenue was $752.7M in Q3 2025, up 22% year over year and up 3% from the previous quarter. Commercial was the largest line at 54% of revenue. Commercial added $79.5M year over year (up 24%), 58% of the total change.
Gross margin was 20.8%, down 0.2 points from a year earlier. Operating profit was $71.9M, a 9.6% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 8% margin then. Operating expenses grew 7% against revenue growth of 22%. The fastest-growing cost line was General & admin (+14%). Net earnings were $53.1M, up 271% year over year. The effective tax rate was 14.2%.
Operating cash flow was $141.8M (up 118% year over year), 267% of net earnings. Non-cash charges added back $36.8M of depreciation and amortization and $11.6M of share-based compensation. Working capital and other items added $40.3M. After capital expenditures, net ($99.2M), free cash flow as the company reports it was $42.6M.
Questions
What was TTM Technologies' revenue in the third quarter 2025?
TTM Technologies (TTMI) reported revenue of $753M for the third quarter 2025 (Q3 2025), +22% from a year earlier and +3% from the quarter before.
Was TTM Technologies profitable in the third quarter 2025?
Operating profit was $71.9M (9.6% of revenue) and net earnings $53.1M.
Source: TTM Technologies 10-Q on SEC EDGAR.