Fabrinet vs TTM Technologies
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KIRA’s take AI analyst
I put Fabrinet and TTM Technologies side by side, using each one’s latest annual report. Here is what stands out:
- Fabrinet is the larger business, with $4.6B of revenue in fiscal 2026 against $2.9B for TTM Technologies, about 1.6 times as much.
- Fabrinet grew revenue faster (35.7%, against 19.0%).
- Fabrinet kept more of each dollar of sales as operating profit (10.0% operating margin, against 9.1%).
- Fabrinet earned a higher return on the capital invested in it (30.0%, against 10.7%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Fabrinet
FN
9/11
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
TTM Technologies
TTMI
2/11
Gross marginPiotroski F-score
Side by side
Best in the row
| Latest fiscal year | FN FY26 | TTMI FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.8B | $9.2B |
| Revenue | $4.6B | $2.9B |
| Free cash flow | $4.2M | −$0.7M |
| Net income | $473M | $177M |
| Growth | ||
| Revenue growth | 35.7% | 19.0% |
| 5-year growth | 19.8% | 6.7% |
| Share count change | −0.0% | 1.3% |
| Profitability | ||
| Gross margin | 12.0% | 20.7% |
| Operating margin | 10.0% | 9.1% |
| Net margin | 10.2% | 6.1% |
| FCF margin | 0.1% | −0.0% |
| Return on capital | 30.0% | 10.7% |
| Return on equity | 21.3% | 10.7% |
| Balance sheet | ||
| Net debt | −$875M | $432M |
| Net debt / EBITDA | −1.7x | 1.1x |
| Dividends and buybacks | $5.2M | $17.9M |
| Valuation & quality | ||
| P/E | — | 38.7x |
| Piotroski F-score | 5 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.