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TTM vs Forth: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

TTM Technologies Inc (TTMI)

Q3 2026
▲3▼1

TTM Hits Record Sales on AI and Defense, Expands via Deals

  • Record Q2 sales and raised guidance TTM reported record quarterly sales of $1.0 billion, up 37%, with earnings per share of $0.99, and lifted its full-year sales outlook to about $4.4 billion. This strong financial performance likely boosted investor confidence.

    It shows the core business momentum that drove the stock.

  • AI and defense demand surge Sales to AI data centers and networking customers jumped 91%, while aerospace and defense sales rose 14%. These fast-growing areas are key drivers of TTM's revenue and future growth prospects.

    It identifies the main sources of demand growth behind the results.

  • Acquisitions and new plant expand reach TTM acquired Epiq Solutions for $1.1 billion, Swiss Technology Group, and ILFA, entering Europe, and opened a $130 million Ultra-HDI plant in Syracuse. These moves broaden its market and capacity.

    It highlights strategic actions that could drive future growth.

  • Debt, integration, and valuation risks TTM took on $1.6 billion in new debt, faces integration challenges, and its stock looks expensive with a P/E of 51.8x and only $28.3 million in free cash flow. Epiq may dilute 2027 earnings before adding in 2028.

    It provides the main counterweight to the positive news.

August 2026
▲3

TTM's AI/defense boom continues with record Q2, Europe entry, Epiq close

  • Record Q2 sales on AI and defense demand TTM reported record quarterly sales of $1.00 billion, up 37.4% from a year ago, beating expectations. Data center and networking sales jumped 91% on AI spending, and aerospace/defense grew 14%. Next-quarter guidance also came in above consensus, signaling demand remains strong.

    This is the core demand driver behind TTM's revenue and profit growth, directly pushing the stock higher.

  • Completes $1.1 billion Epiq acquisition TTM closed its $1.1 billion purchase of Epiq Solutions, adding software-defined radios and RF systems for defense, intelligence, and space. The deal should immediately boost adjusted EBITDA, though it may slightly reduce adjusted earnings per share in 2027 before adding to them in 2028.

    This acquisition expands TTM's defense business and is a major strategic move that affects future earnings and growth.

  • Enters Europe with two acquisitions TTM is buying Swiss Technology Group in Switzerland and ILFA in Germany, marking its first entry into Europe. The deals add specialized capabilities and geographic reach, and are expected to be moderately accretive to adjusted EBITDA. TTM's 2026 revenue outlook excludes any contribution from these deals, leaving room for upside.

    This is a new expansion move that could add revenue and shows TTM's growth strategy beyond the U.S.

  • Valuation concerns and insider buying A DCF analysis suggested TTM may be about 10% overvalued, with free cash flow of only $28.3 million and a high P/E of 51.8x. However, CEO Edwin Roks bought 10,000 shares for $1.1 million, signaling confidence. These opposing views create uncertainty about the stock's near-term price.

    This highlights a real counterweight—valuation risk—while also showing insider confidence, giving a balanced view.

Latest
▲3

TTM's AI/defense boom continues with record Q2, Europe entry, Epiq close

  • Record Q2 sales on AI and defense demand TTM reported record quarterly sales of $1.00 billion, up 37.4% from a year ago, beating expectations. Data center and networking sales jumped 91% on AI spending, and aerospace/defense grew 14%. Next-quarter guidance also came in above consensus, signaling demand remains strong.

    This is the core demand driver behind TTM's revenue and profit growth, directly pushing the stock higher.

  • Completes $1.1 billion Epiq acquisition TTM closed its $1.1 billion purchase of Epiq Solutions, adding software-defined radios and RF systems for defense, intelligence, and space. The deal should immediately boost adjusted EBITDA, though it may slightly reduce adjusted earnings per share in 2027 before adding to them in 2028.

    This acquisition expands TTM's defense business and is a major strategic move that affects future earnings and growth.

  • Enters Europe with two acquisitions TTM is buying Swiss Technology Group in Switzerland and ILFA in Germany, marking its first entry into Europe. The deals add specialized capabilities and geographic reach, and are expected to be moderately accretive to adjusted EBITDA. TTM's 2026 revenue outlook excludes any contribution from these deals, leaving room for upside.

    This is a new expansion move that could add revenue and shows TTM's growth strategy beyond the U.S.

  • Valuation concerns and insider buying A DCF analysis suggested TTM may be about 10% overvalued, with free cash flow of only $28.3 million and a high P/E of 51.8x. However, CEO Edwin Roks bought 10,000 shares for $1.1 million, signaling confidence. These opposing views create uncertainty about the stock's near-term price.

    This highlights a real counterweight—valuation risk—while also showing insider confidence, giving a balanced view.

September 2026
▲3

TTM's AI and defense boom drives record sales, big acquisitions, and new debt

  • Record sales on AI and defense demand TTM crossed $1 billion in quarterly sales for the first time, up 37% from a year ago. Data center and networking sales jumped 91% on AI infrastructure spending, and aerospace and defense grew 14%. The company raised its full-year outlook to about $4.4 billion, signaling strong demand ahead.

    This is the core reason TTMI is moving: booming demand from AI and defense customers is driving record revenue and a raised outlook.

  • Acquires Epiq Solutions for $1.1 billion TTM agreed to buy Epiq Solutions for $1.1 billion in cash to expand its radio-frequency and signal-processing capabilities for defense and communications. Epiq is expected to add about $160 million in 2027 revenue with high margins, and the deal should immediately boost profitability and earnings per share by 2028.

    This acquisition expands TTM's defense technology and is expected to add revenue and earnings, directly supporting the stock's value.

  • N+M technology ramp to add $600 million in second half TTM said its new N+M product family is ramping faster than expected, with about $600 million of business expected in the second half of 2026. Yields are better than planned, which should help profit margins in the third and fourth quarters. Data center and networking will be 49% of third-quarter sales.

    This shows a concrete new revenue stream with improving margins, reinforcing the growth story beyond the current quarter.

  • Raises $1.6 billion in debt for acquisitions TTM priced $500 million in senior notes at 6.75% and added over $1.1 billion in new loans to fund acquisitions. This increases debt and interest costs, but the company expects leverage to fall to 1.5–1.7 times within 12–18 months. If the Epiq deal fails, the notes must be redeemed.

    The financing is a major capital event that adds risk but also funds growth; it explains the mixed pressure on the stock.

▲3

TTM's AI and defense boom drives record sales, big acquisitions, and new debt

  • Record sales on AI and defense demand TTM crossed $1 billion in quarterly sales for the first time, up 37% from a year ago. Data center and networking sales jumped 91% on AI infrastructure spending, and aerospace and defense grew 14%. The company raised its full-year outlook to about $4.4 billion, signaling strong demand ahead.

    This is the core reason TTMI is moving: booming demand from AI and defense customers is driving record revenue and a raised outlook.

  • Acquires Epiq Solutions for $1.1 billion TTM agreed to buy Epiq Solutions for $1.1 billion in cash to expand its radio-frequency and signal-processing capabilities for defense and communications. Epiq is expected to add about $160 million in 2027 revenue with high margins, and the deal should immediately boost profitability and earnings per share by 2028.

    This acquisition expands TTM's defense technology and is expected to add revenue and earnings, directly supporting the stock's value.

  • N+M technology ramp to add $600 million in second half TTM said its new N+M product family is ramping faster than expected, with about $600 million of business expected in the second half of 2026. Yields are better than planned, which should help profit margins in the third and fourth quarters. Data center and networking will be 49% of third-quarter sales.

    This shows a concrete new revenue stream with improving margins, reinforcing the growth story beyond the current quarter.

  • Raises $1.6 billion in debt for acquisitions TTM priced $500 million in senior notes at 6.75% and added over $1.1 billion in new loans to fund acquisitions. This increases debt and interest costs, but the company expects leverage to fall to 1.5–1.7 times within 12–18 months. If the Epiq deal fails, the notes must be redeemed.

    The financing is a major capital event that adds risk but also funds growth; it explains the mixed pressure on the stock.

July 2026
▲4

TTM's AI and defense demand drives record sales, raised guidance, and European expansion

  • Record Q2 sales and raised full-year guidance TTM reported record quarterly sales of $1.0 billion, up 37% from a year ago, and raised its full-year 2026 sales guidance to about $4.4 billion. Earnings per share hit an all-time high of $0.99, up 71%. This directly boosts investor confidence and supports a higher stock price.

    This is the core new financial result that shows the company's strong momentum and directly affects its valuation.

  • AI data center and defense demand fuel growth Sales to data center and networking customers surged 91% year-over-year and made up 40% of quarterly revenue. Aerospace and defense sales rose 14% and accounted for 37% of revenue. This shows TTM is benefiting from two powerful, long-term trends: AI infrastructure buildout and rising defense spending.

    It explains the underlying demand drivers that are pushing revenue and profits higher, which is central to the stock's rise.

  • European expansion through two acquisitions TTM agreed to acquire Swiss Technology Group and ILFA, giving it its first manufacturing footprint in Europe. These deals add medical, aerospace, and defense customers and are expected to be immediately accretive. This broadens TTM's reach and supports future growth, though integration adds some risk.

    It is a new strategic move that expands the company's geographic and customer base, directly affecting its growth outlook.

  • New Syracuse Ultra-HDI facility boosts defense capacity TTM opened a $130 million Ultra-HDI PCB plant in Syracuse, New York, with $30 million from the U.S. Department of War. The facility addresses a critical gap in domestic production for advanced defense electronics and creates up to 400 jobs. This positions TTM for higher-value defense contracts.

    It is a major capacity expansion that strengthens TTM's position in the growing defense market and supports long-term revenue growth.

▲4

TTM's AI and defense demand drives record sales, raised guidance, and European expansion

  • Record Q2 sales and raised full-year guidance TTM reported record quarterly sales of $1.0 billion, up 37% from a year ago, and raised its full-year 2026 sales guidance to about $4.4 billion. Earnings per share hit an all-time high of $0.99, up 71%. This directly boosts investor confidence and supports a higher stock price.

    This is the core new financial result that shows the company's strong momentum and directly affects its valuation.

  • AI data center and defense demand fuel growth Sales to data center and networking customers surged 91% year-over-year and made up 40% of quarterly revenue. Aerospace and defense sales rose 14% and accounted for 37% of revenue. This shows TTM is benefiting from two powerful, long-term trends: AI infrastructure buildout and rising defense spending.

    It explains the underlying demand drivers that are pushing revenue and profits higher, which is central to the stock's rise.

  • European expansion through two acquisitions TTM agreed to acquire Swiss Technology Group and ILFA, giving it its first manufacturing footprint in Europe. These deals add medical, aerospace, and defense customers and are expected to be immediately accretive. This broadens TTM's reach and supports future growth, though integration adds some risk.

    It is a new strategic move that expands the company's geographic and customer base, directly affecting its growth outlook.

  • New Syracuse Ultra-HDI facility boosts defense capacity TTM opened a $130 million Ultra-HDI PCB plant in Syracuse, New York, with $30 million from the U.S. Department of War. The facility addresses a critical gap in domestic production for advanced defense electronics and creates up to 400 jobs. This positions TTM for higher-value defense contracts.

    It is a major capacity expansion that strengthens TTM's position in the growing defense market and supports long-term revenue growth.

Forth Corporation Public Company Limited (FORTH.BK)

Q3 2026
▲2▼2

Forth Q2 Profit Surges 92% on EMS Recovery, But Dilution and Stake Sale Loom

  • Q2 Profit Surge and Dividend Forth's Q2 2026 profit jumped 92% to 234 million baht, driven by a recovery in its electronics manufacturing business. The company also declared a 0.15 baht dividend, rewarding shareholders.

    This is the main positive earnings news that likely boosted investor confidence.

  • Strong Backlog and Analyst Optimism Forth's systems-integration backlog reached 5.2 billion baht, with analysts rating it a buy and a 21.30 baht target, citing government smart-grid, smart-meter, solar, and police-radio projects as future revenue drivers.

    This highlights future revenue visibility and positive analyst sentiment.

  • Dilution from New Share Issue Forth plans to issue up to 27.13 million new shares, raising 350–456 million baht. This will dilute existing shareholders' ownership and earnings per share.

    This is a key negative factor that could pressure the stock price.

  • Loss of Control in Maew Som Forth is cutting its stake in Maew Som from 91% to 9%, surrendering control and future profit from that venture. This may reduce long-term earnings potential.

    This strategic move could negatively impact future profitability.

August 2026
▲2▼2

Forth Q2 Profit Surges 92% on EMS Recovery, But Dilution and Stake Sale Loom

  • Q2 Profit Surge and Dividend Forth's Q2 2026 profit jumped 92% to 234 million baht, driven by a recovery in its electronics manufacturing business. The company also declared a 0.15 baht dividend, rewarding shareholders.

    This is the main positive earnings news that likely boosted investor confidence.

  • Strong Backlog and Analyst Optimism Forth's systems-integration backlog reached 5.2 billion baht, with analysts rating it a buy and a 21.30 baht target, citing government smart-grid, smart-meter, solar, and police-radio projects as future revenue drivers.

    This highlights future revenue visibility and positive analyst sentiment.

  • Dilution from New Share Issue Forth plans to issue up to 27.13 million new shares, raising 350–456 million baht. This will dilute existing shareholders' ownership and earnings per share.

    This is a key negative factor that could pressure the stock price.

  • Loss of Control in Maew Som Forth is cutting its stake in Maew Som from 91% to 9%, surrendering control and future profit from that venture. This may reduce long-term earnings potential.

    This strategic move could negatively impact future profitability.

Latest
▲2▼2

FORTH's growth pipeline builds, but new share sale dilutes holders

  • New orders and government budgets feed the pipeline FORTH expects to sign a police radio project worth 800-900 million baht and an electronic bracelet deal, plus over 800 million baht of smart meter revenue by year-end. The Cabinet's 70-billion-baht solar, smart grid and smart meter plan also names FORTH as a winner. More signed work means more future revenue.

    New contract and budget news directly adds to FORTH's future revenue pipeline, the core growth story.

  • New share issue dilutes existing holders FORTH will sell up to 27.13 million new shares to existing shareholders at 12.90-16.80 baht to raise 350-456 million baht for an aircraft maintenance centre. Issuing new shares means current holders own a smaller slice of the company, which typically weighs on the share price.

    This is the period's main negative price driver and a fresh capital action not previously reported.

  • FORTH sells down its Maew Som stake FORTH is transferring Maew Som Estate shares to FSMART, cutting its holding from 91% to 9%. FORTH gives up control and future profit from that venture, though it may receive cash from the sale. Losing a consolidated business can reduce earnings and investor confidence.

    A structural ownership change that reduces FORTH's stake in a joint venture, affecting future earnings.

  • Analyst buy call and profit rebound support sentiment Yuanta rates FORTH a buy with a 21.30 baht target, expecting Q2 profit to jump 142% on revenue recognition from a large backlog. A swing back to profit in late 2024 also drew investor interest. Strong analyst backing and earnings recovery help lift the shares.

    Analyst coverage and profit recovery are key sentiment drivers for the stock price.

▲3

FORTH profit surges on EMS recovery and smart-grid demand

  • Q2 profit jumps 92%, dividend paid FORTH's second-quarter 2026 net profit rose 92% to 234 million baht, helped by a 51% jump in electronics (EMS) revenue, and the board paid an interim dividend of 0.15 baht per share. Stronger earnings and cash returned to shareholders support the share price.

    This is the core new earnings event that re-rates the stock.

  • Big order backlog points to future revenue Yuanta keeps a buy rating and 21.30 baht target, noting the systems-integration backlog hit 5.2 billion baht, well above the normal 2-3 billion. A large backlog means work already signed will turn into revenue later, supporting profit growth.

    Backlog and broker target explain the forward earnings case behind the price.

  • Smart-grid budget names FORTH as winner The government plans a 10-20 billion baht first-phase smart-grid investment, and analysts name FORTH among beneficiaries in demand response and EV integration. New public spending on power networks could bring FORTH fresh project orders, lifting future revenue.

    New government spending is a fresh demand driver for FORTH's businesses.

  • Some segments still weak, revenue delayed Enterprise Solution revenue fell 14% and Smart Service 5%, and some new project revenue recognition was delayed, making Q2 profit 21% below Yuanta's estimate. EMS margin also slipped. So the strong headline growth hides uneven segment performance.

    It is the real counterweight: not all businesses are growing as fast as the headline.