The paper investigates the technology-transfer productivity of Spanish public universities. The proposed approach allows the development of a framework that matches universities’ technology transfer concerns with the need to accurately analyze the role of the outcome configuration of technology transfer offices (TTOs). We analyze technology transfer productivity of Spanish universities during 2006-2011 by computing total factor productivity models rooted in non-parametric techniques, namely the Malmquist index. The results confirm that technology transfer productivity is affected by changes in the configuration of the TTO’s outcome portfolio that result from benchmarking own and market peers’ performance levels. While benchmarking own performance levels facilitates the exploitation of internal resources and yields superior productivity results, changes in TTO’s portfolio based on comparisons with market peers might generate greater operational costs that negatively impact productivity.