TTM Technologies Inc (TTMI)

Liquidity ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Current ratio	1.99	2.00	2.04	2.09	2.03	1.91	2.14	2.20	1.96	1.94	1.91	2.45	2.52	2.51	2.53	2.62	2.36	1.89	1.56	1.94
Quick ratio	0.62	0.62	0.63	0.66	0.64	0.60	0.67	0.66	0.53	0.45	0.37	0.88	0.96	0.93	1.01	1.06	0.87	0.84	0.58	0.40
Cash ratio	0.62	0.62	0.63	0.66	0.64	0.60	0.67	0.66	0.53	0.45	0.37	0.88	0.96	0.93	1.01	1.06	0.87	0.84	0.58	0.40

TTM Technologies Inc's current ratio has shown fluctuations over the analyzed periods, ranging from a low of 1.56 in June 2020 to a high of 2.62 in March 2021. Despite some variability, the current ratio generally appears to be healthy, consistently above 1, indicating the company's ability to meet its short-term obligations with its current assets.

In terms of the quick ratio, TTM Technologies Inc's position improved over time, with a low of 0.37 in June 2022 to a high of 1.06 in March 2021. The quick ratio indicates the company's ability to pay off its current liabilities without relying on the sale of inventory, showing an upward trend in liquidity over the reviewed periods.

The cash ratio, representing the most stringent test of liquidity, also exhibits an improving trend for TTM Technologies Inc. The ratio ranged from 0.37 in June 2022 to 1.06 in March 2021. This indicates that the company had more than enough cash and cash equivalents to cover its short-term liabilities in the earlier periods, with a slight decline in recent periods but remaining at adequate levels.

Overall, based on the analysis of the liquidity ratios, TTM Technologies Inc appears to have maintained a strong liquidity position throughout the reviewed periods, with the ability to meet its short-term obligations comfortably, even though there have been minor fluctuations in certain quarters.

Additional liquidity measure

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash conversion cycle	days	41.31	43.12	41.63	43.47	42.47	40.43	35.06	32.17	30.57	36.71	39.04	26.08	24.82	28.22	26.02	24.91	24.17	24.44	21.41	20.32

The cash conversion cycle of TTM Technologies Inc has shown some fluctuations over the periods presented. The company's cash conversion cycle, a critical measure of efficiency in managing working capital, has ranged from around 20 days to over 40 days.

From March 31, 2020, to June 30, 2021, the cash conversion cycle saw a gradual increase from 20.32 days to 26.02 days, suggesting a lengthening period for the company to convert its investments in inventory into cash receipts from customers.

However, between June 30, 2021, and September 30, 2022, there was a more significant spike in the cash conversion cycle, reaching a peak of 40.43 days. This extended period may indicate potential challenges in managing inventory levels, accounts receivable, and accounts payable efficiently.

Subsequently, from September 30, 2022, to December 31, 2024, there was a slight decline in the cash conversion cycle, showing signs of improvement in the company's working capital management practices. This reduction suggests that TTM Technologies Inc may have focused on optimizing its inventory turnover, collection of receivables, and payment of payables during this period.

Overall, the trend in TTM Technologies Inc's cash conversion cycle indicates fluctuations in working capital efficiency over time, emphasizing the importance of closely monitoring and managing operational processes related to inventory, accounts receivable, and accounts payable to enhance overall financial performance.