(FORM) FormFactor - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US3463751087
Stock: Probe Cards, Test Systems, Cryogenics
Total Rating 78
Risk 91
Buy Signal 0.59
| Risk 5d forecast | |
|---|---|
| Volatility | 60.2% |
| Relative Tail Risk | -12.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.73 |
| Alpha | 139.82 |
| Character TTM | |
|---|---|
| Beta | 2.148 |
| Beta Downside | 1.362 |
| Drawdowns 3y | |
|---|---|
| Max DD | 62.75% |
| CAGR/Max DD | 0.74 |
EPS (Earnings per Share)
Revenue
Risks
Fundamental:
P/E ratio: 125.6087
Description: FORM FormFactor March 03, 2026
FormFactor, Inc. (FORM) is a global provider of essential semiconductor test and measurement equipment, specializing in probe cards, analytical probes, and cryogenic systems. The company operates through two primary segments: Probe Cards and Systems. Its technology facilitates the testing of diverse semiconductor architectures, including high-performance computing (HPC) units, memory (DRAM and NAND), and quantum computing processors.
The semiconductor equipment sector is characterized by high R&D intensity and cyclical demand driven by technology transitions, such as the shift to advanced packaging and chiplet architectures. FormFactor’s business model relies on a combination of direct sales and localized service support to maintain long-term relationships with major integrated device manufacturers and foundries. As chip designs become more complex, the demand for precise thermal management and electrical characterization during the wafer-sort process increases.
For more detailed financial metrics and valuation trends, consider reviewing the data available on ValueRay.
Headlines to watch out for
- Semiconductor industry downturn reduces demand for probe cards
- Memory chip market fluctuations impact probe card sales
- Capital expenditure cycles of chipmakers dictate equipment orders
- Geopolitical tensions disrupt global semiconductor supply chains
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 54.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -5.94 > 1.0 |
| NWC/Revenue: 55.18% < 20% (prev 62.05%; Δ -6.86% < -1%) |
| CFO/TA 0.09 > 3% & CFO 115.4m > Net Income 54.4m |
| Net Debt (-58.5m) to EBITDA (93.3m): -0.63 < 3 |
| Current Ratio: 4.50 > 1.5 & < 3 |
| Outstanding Shares: last quarter (78.9m) vs 12m ago 1.13% < -2% |
| Gross Margin: 39.50% > 18% (prev 0.40%; Δ 3910 % > 0.5%) |
| Asset Turnover: 66.23% > 50% (prev 66.62%; Δ -0.39% > 0%) |
| Interest Coverage Ratio: 120.9 > 6 (EBITDA TTM 93.3m / Interest Expense TTM 521.0k) |
Altman Z'' 4.10
| A: 0.35 (Total Current Assets 557.1m - Total Current Liabilities 123.9m) / Total Assets 1.22b |
| B: 0.14 (Retained Earnings 175.3m / Total Assets 1.22b) |
| C: 0.05 (EBIT TTM 63.0m / Avg Total Assets 1.19b) |
| D: 0.91 (Book Value of Equity 171.9m / Total Liabilities 189.0m) |
| Altman-Z'' Score: 4.10 = AA |
Beneish M -2.79
| DSRI: 1.17 (Receivables 125.4m/104.3m, Revenue 785.0m/763.6m) |
| GMI: 1.02 (GM 39.50% / 40.33%) |
| AQI: 1.19 (AQ_t 0.32 / AQ_t-1 0.27) |
| SGI: 1.03 (Revenue 785.0m / 763.6m) |
| TATA: -0.05 (NI 54.4m - CFO 115.4m) / TA 1.22b) |
| Beneish M-Score: -2.79 (Cap -4..+1) = A |
What is the price of FORM shares?
As of March 11, 2026, the stock is trading at USD 91.03 with a total of 703,354 shares traded.
Over the past week, the price has changed by -1.89%, over one month by -2.43%, over three months by +53.69% and over the past year by +177.02%.
Over the past week, the price has changed by -1.89%, over one month by -2.43%, over three months by +53.69% and over the past year by +177.02%.
Is FORM a buy, sell or hold?
FormFactor has received a consensus analysts rating of 3.70.
Therefor, it is recommend to hold FORM.
- StrongBuy: 3
- Buy: 1
- Hold: 6
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the FORM price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 84.1 | -7.6% |
| Analysts Target Price | 84.1 | -7.6% |
FORM Fundamental Data Overview March 07, 2026
P/E Trailing = 125.6087
P/E Forward = 47.619
P/S = 8.6028
P/B = 6.9647
P/EG = 1.3915
Revenue TTM = 785.0m USD
EBIT TTM = 63.0m USD
EBITDA TTM = 93.3m USD
Long Term Debt = 11.1m USD (from longTermDebt, last quarter)
Short Term Debt = 8.80m USD (from shortTermDebt, last quarter)
Debt = 44.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -58.5m USD (from netDebt column, last quarter)
Enterprise Value = 6.52b USD (6.75b + Debt 44.8m - CCE 275.2m)
Interest Coverage Ratio = 120.9 (Ebit TTM 63.0m / Interest Expense TTM 521.0k)
EV/FCF = 555.6x (Enterprise Value 6.52b / FCF TTM 11.7m)
FCF Yield = 0.18% (FCF TTM 11.7m / Enterprise Value 6.52b)
FCF Margin = 1.50% (FCF TTM 11.7m / Revenue TTM 785.0m)
Net Margin = 6.93% (Net Income TTM 54.4m / Revenue TTM 785.0m)
Gross Margin = 39.50% ((Revenue TTM 785.0m - Cost of Revenue TTM 474.9m) / Revenue TTM)
Gross Margin QoQ = 42.84% (prev 39.69%)
Tobins Q-Ratio = 5.33 (Enterprise Value 6.52b / Total Assets 1.22b)
Interest Expense / Debt = 1.16% (Interest Expense 521.0k / Debt 44.8m)
Taxrate = 13.49% (3.62m / 26.8m)
NOPAT = 54.5m (EBIT 63.0m * (1 - 13.49%))
Current Ratio = 4.50 (Total Current Assets 557.1m / Total Current Liabilities 123.9m)
Debt / Equity = 0.04 (Debt 44.8m / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = -0.63 (Net Debt -58.5m / EBITDA 93.3m)
Debt / FCF = -4.98 (Net Debt -58.5m / FCF TTM 11.7m)
Total Stockholder Equity = 1.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.59% (Net Income 54.4m / Total Assets 1.22b)
RoE = 5.43% (Net Income TTM 54.4m / Total Stockholder Equity 1.00b)
RoCE = 6.23% (EBIT 63.0m / Capital Employed (Equity 1.00b + L.T.Debt 11.1m))
RoIC = 5.38% (NOPAT 54.5m / Invested Capital 1.01b)
WACC = 13.75% (E(6.75b)/V(6.80b) * Re(13.83%) + D(44.8m)/V(6.80b) * Rd(1.16%) * (1-Tc(0.13)))
Discount Rate = 13.83% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.29%
[DCF] Terminal Value 49.20% ; FCFF base≈38.7m ; Y1≈25.4m ; Y5≈11.6m
[DCF] Fair Price = 2.26 (EV 117.3m - Net Debt -58.5m = Equity 175.8m / Shares 77.9m; r=13.75% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 23.86 | EPS CAGR: -1.67% | SUE: 2.75 | # QB: 2
Revenue Correlation: 36.15 | Revenue CAGR: 2.36% | SUE: 1.92 | # QB: 3
EPS next Quarter (2026-06-30): EPS=0.45 | Chg7d=+0.071 | Chg30d=+0.082 | Revisions Net=+5 | Analysts=9
EPS current Year (2026-12-31): EPS=1.85 | Chg7d=+0.249 | Chg30d=+0.277 | Revisions Net=+7 | Growth EPS=+42.6% | Growth Revenue=+16.3%
EPS next Year (2027-12-31): EPS=2.23 | Chg7d=+0.309 | Chg30d=+0.424 | Revisions Net=+2 | Growth EPS=+20.3% | Growth Revenue=+7.5%
[Analyst] Revisions Ratio: +1.00 (5 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 13.0% (Discount Rate 13.8% - Earnings Yield 0.8%)
[Growth] Growth Spread = +3.3% (Analyst 16.3% - Implied 13.0%)
P/E Forward = 47.619
P/S = 8.6028
P/B = 6.9647
P/EG = 1.3915
Revenue TTM = 785.0m USD
EBIT TTM = 63.0m USD
EBITDA TTM = 93.3m USD
Long Term Debt = 11.1m USD (from longTermDebt, last quarter)
Short Term Debt = 8.80m USD (from shortTermDebt, last quarter)
Debt = 44.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -58.5m USD (from netDebt column, last quarter)
Enterprise Value = 6.52b USD (6.75b + Debt 44.8m - CCE 275.2m)
Interest Coverage Ratio = 120.9 (Ebit TTM 63.0m / Interest Expense TTM 521.0k)
EV/FCF = 555.6x (Enterprise Value 6.52b / FCF TTM 11.7m)
FCF Yield = 0.18% (FCF TTM 11.7m / Enterprise Value 6.52b)
FCF Margin = 1.50% (FCF TTM 11.7m / Revenue TTM 785.0m)
Net Margin = 6.93% (Net Income TTM 54.4m / Revenue TTM 785.0m)
Gross Margin = 39.50% ((Revenue TTM 785.0m - Cost of Revenue TTM 474.9m) / Revenue TTM)
Gross Margin QoQ = 42.84% (prev 39.69%)
Tobins Q-Ratio = 5.33 (Enterprise Value 6.52b / Total Assets 1.22b)
Interest Expense / Debt = 1.16% (Interest Expense 521.0k / Debt 44.8m)
Taxrate = 13.49% (3.62m / 26.8m)
NOPAT = 54.5m (EBIT 63.0m * (1 - 13.49%))
Current Ratio = 4.50 (Total Current Assets 557.1m / Total Current Liabilities 123.9m)
Debt / Equity = 0.04 (Debt 44.8m / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = -0.63 (Net Debt -58.5m / EBITDA 93.3m)
Debt / FCF = -4.98 (Net Debt -58.5m / FCF TTM 11.7m)
Total Stockholder Equity = 1.00b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.59% (Net Income 54.4m / Total Assets 1.22b)
RoE = 5.43% (Net Income TTM 54.4m / Total Stockholder Equity 1.00b)
RoCE = 6.23% (EBIT 63.0m / Capital Employed (Equity 1.00b + L.T.Debt 11.1m))
RoIC = 5.38% (NOPAT 54.5m / Invested Capital 1.01b)
WACC = 13.75% (E(6.75b)/V(6.80b) * Re(13.83%) + D(44.8m)/V(6.80b) * Rd(1.16%) * (1-Tc(0.13)))
Discount Rate = 13.83% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.29%
[DCF] Terminal Value 49.20% ; FCFF base≈38.7m ; Y1≈25.4m ; Y5≈11.6m
[DCF] Fair Price = 2.26 (EV 117.3m - Net Debt -58.5m = Equity 175.8m / Shares 77.9m; r=13.75% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 23.86 | EPS CAGR: -1.67% | SUE: 2.75 | # QB: 2
Revenue Correlation: 36.15 | Revenue CAGR: 2.36% | SUE: 1.92 | # QB: 3
EPS next Quarter (2026-06-30): EPS=0.45 | Chg7d=+0.071 | Chg30d=+0.082 | Revisions Net=+5 | Analysts=9
EPS current Year (2026-12-31): EPS=1.85 | Chg7d=+0.249 | Chg30d=+0.277 | Revisions Net=+7 | Growth EPS=+42.6% | Growth Revenue=+16.3%
EPS next Year (2027-12-31): EPS=2.23 | Chg7d=+0.309 | Chg30d=+0.424 | Revisions Net=+2 | Growth EPS=+20.3% | Growth Revenue=+7.5%
[Analyst] Revisions Ratio: +1.00 (5 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 13.0% (Discount Rate 13.8% - Earnings Yield 0.8%)
[Growth] Growth Spread = +3.3% (Analyst 16.3% - Implied 13.0%)