FORMFACTOR INC (FORM) Fundamental Analysis & Valuation

NASDAQ:FORM • US3463751087

Current stock price

100.35 USD
-7.72 (-7.14%)
At close:
100.18 USD
-0.17 (-0.17%)
After Hours:

This FORM fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. FORM Profitability Analysis

1.1 Basic Checks

  • FORM had positive earnings in the past year.
  • In the past year FORM had a positive cash flow from operations.
  • FORM had positive earnings in each of the past 5 years.
  • FORM had a positive operating cash flow in each of the past 5 years.
FORM Yearly Net Income VS EBIT VS OCF VS FCFFORM Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M

1.2 Ratios

  • With a decent Return On Assets value of 4.44%, FORM is doing good in the industry, outperforming 63.48% of the companies in the same industry.
  • The Return On Equity of FORM (5.25%) is comparable to the rest of the industry.
  • FORM has a better Return On Invested Capital (4.58%) than 63.48% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for FORM is significantly below the industry average of 10.70%.
  • The 3 year average ROIC (3.10%) for FORM is below the current ROIC(4.58%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.44%
ROE 5.25%
ROIC 4.58%
ROA(3y)5.99%
ROA(5y)6.24%
ROE(3y)7.22%
ROE(5y)7.64%
ROIC(3y)3.1%
ROIC(5y)5.22%
FORM Yearly ROA, ROE, ROICFORM Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5 10 15

1.3 Margins

  • The Profit Margin of FORM (6.93%) is better than 60.87% of its industry peers.
  • FORM's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 7.61%, FORM is in the better half of the industry, outperforming 60.87% of the companies in the same industry.
  • FORM's Operating Margin has declined in the last couple of years.
  • FORM has a Gross Margin (39.34%) which is in line with its industry peers.
  • FORM's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.61%
PM (TTM) 6.93%
GM 39.34%
OM growth 3Y-6.61%
OM growth 5Y-8.72%
PM growth 3Y0.71%
PM growth 5Y-9.36%
GM growth 3Y-1.49%
GM growth 5Y-1.06%
FORM Yearly Profit, Operating, Gross MarginsFORM Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30 40

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7

2. FORM Health Analysis

2.1 Basic Checks

  • FORM has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for FORM has been increased compared to 1 year ago.
  • Compared to 5 years ago, FORM has more shares outstanding
  • FORM has a better debt/assets ratio than last year.
FORM Yearly Shares OutstandingFORM Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
FORM Yearly Total Debt VS Total AssetsFORM Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.2 Solvency

  • An Altman-Z score of 28.17 indicates that FORM is not in any danger for bankruptcy at the moment.
  • FORM's Altman-Z score of 28.17 is amongst the best of the industry. FORM outperforms 89.57% of its industry peers.
  • FORM has a debt to FCF ratio of 1.04. This is a very positive value and a sign of high solvency as it would only need 1.04 years to pay back of all of its debts.
  • With a decent Debt to FCF ratio value of 1.04, FORM is doing good in the industry, outperforming 73.04% of the companies in the same industry.
  • FORM has a Debt/Equity ratio of 0.01. This is a healthy value indicating a solid balance between debt and equity.
  • FORM has a better Debt to Equity ratio (0.01) than 67.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 1.04
Altman-Z 28.17
ROIC/WACC0.4
WACC11.53%
FORM Yearly LT Debt VS Equity VS FCFFORM Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B

2.3 Liquidity

  • FORM has a Current Ratio of 4.50. This indicates that FORM is financially healthy and has no problem in meeting its short term obligations.
  • FORM's Current ratio of 4.50 is fine compared to the rest of the industry. FORM outperforms 66.09% of its industry peers.
  • FORM has a Quick Ratio of 3.60. This indicates that FORM is financially healthy and has no problem in meeting its short term obligations.
  • FORM's Quick ratio of 3.60 is fine compared to the rest of the industry. FORM outperforms 68.70% of its industry peers.
Industry RankSector Rank
Current Ratio 4.5
Quick Ratio 3.6
FORM Yearly Current Assets VS Current LiabilitesFORM Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. FORM Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 12.17% over the past year.
  • Measured over the past years, FORM shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.84% on average per year.
  • Looking at the last year, FORM shows a small growth in Revenue. The Revenue has grown by 2.80% in the last year.
  • The Revenue has been growing slightly by 2.51% on average over the past years.
EPS 1Y (TTM)12.17%
EPS 3Y1.33%
EPS 5Y-2.84%
EPS Q2Q%70.37%
Revenue 1Y (TTM)2.8%
Revenue growth 3Y1.63%
Revenue growth 5Y2.51%
Sales Q2Q%13.55%

3.2 Future

  • FORM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.06% yearly.
  • FORM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.56% yearly.
EPS Next Y49.46%
EPS Next 2Y34.68%
EPS Next 3Y8.15%
EPS Next 5Y23.06%
Revenue Next Year18.08%
Revenue Next 2Y12.57%
Revenue Next 3Y8.75%
Revenue Next 5Y9.56%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FORM Yearly Revenue VS EstimatesFORM Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 200M 400M 600M 800M 1B
FORM Yearly EPS VS EstimatesFORM Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0.5 1 1.5 2 2.5

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2

4. FORM Valuation Analysis

4.1 Price/Earnings Ratio

  • FORM is valuated quite expensively with a Price/Earnings ratio of 77.79.
  • FORM's Price/Earnings is on the same level as the industry average.
  • FORM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 25.61.
  • A Price/Forward Earnings ratio of 52.05 indicates a quite expensive valuation of FORM.
  • The rest of the industry has a similar Price/Forward Earnings ratio as FORM.
  • FORM is valuated expensively when we compare the Price/Forward Earnings ratio to 22.79, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 77.79
Fwd PE 52.05
FORM Price Earnings VS Forward Price EarningsFORM Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of FORM is on the same level as its industry peers.
  • FORM's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 666.04
EV/EBITDA 82.05
FORM Per share dataFORM EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

4.3 Compensation for Growth

  • FORM's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of FORM may justify a higher PE ratio.
PEG (NY)1.57
PEG (5Y)N/A
EPS Next 2Y34.68%
EPS Next 3Y8.15%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. FORM Dividend Analysis

5.1 Amount

  • No dividends for FORM!.
Industry RankSector Rank
Dividend Yield 0%

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FORM Fundamentals: All Metrics, Ratios and Statistics

FORMFACTOR INC

NASDAQ:FORM (3/26/2026, 5:26:42 PM)

After market: 100.18 -0.17 (-0.17%)

100.35

-7.72 (-7.14%)

Chartmill FA Rating
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-04
Earnings (Next)04-28
Inst Owners98.83%
Inst Owner Change-0.72%
Ins Owners0.74%
Ins Owner Change-10.39%
Market Cap7.82B
Revenue(TTM)784.99M
Net Income(TTM)54.36M
Analysts75
Price Target85.79 (-14.51%)
Short Float %3.2%
Short Ratio1.68
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)29.64%
Min EPS beat(2)29.29%
Max EPS beat(2)29.99%
EPS beat(4)3
Avg EPS beat(4)16.6%
Min EPS beat(4)-11.93%
Max EPS beat(4)29.99%
EPS beat(8)5
Avg EPS beat(8)8.72%
EPS beat(12)8
Avg EPS beat(12)8.8%
EPS beat(16)12
Avg EPS beat(16)12.25%
Revenue beat(2)1
Avg Revenue beat(2)-0.16%
Min Revenue beat(2)-0.65%
Max Revenue beat(2)0.32%
Revenue beat(4)2
Avg Revenue beat(4)-0.14%
Min Revenue beat(4)-1.17%
Max Revenue beat(4)0.94%
Revenue beat(8)4
Avg Revenue beat(8)-0.28%
Revenue beat(12)6
Avg Revenue beat(12)-0.49%
Revenue beat(16)7
Avg Revenue beat(16)-0.39%
PT rev (1m)23.69%
PT rev (3m)48.14%
EPS NQ rev (1m)3%
EPS NQ rev (3m)47.55%
EPS NY rev (1m)18.96%
EPS NY rev (3m)20.57%
Revenue NQ rev (1m)0.75%
Revenue NQ rev (3m)11.46%
Revenue NY rev (1m)6.66%
Revenue NY rev (3m)7.11%
Valuation
Industry RankSector Rank
PE 77.79
Fwd PE 52.05
P/S 9.96
P/FCF 666.04
P/OCF 67.76
P/B 7.55
P/tB 9.74
EV/EBITDA 82.05
EPS(TTM)1.29
EY1.29%
EPS(NY)1.93
Fwd EY1.92%
FCF(TTM)0.15
FCFY0.15%
OCF(TTM)1.48
OCFY1.48%
SpS10.07
BVpS13.29
TBVpS10.31
PEG (NY)1.57
PEG (5Y)N/A
Graham Number19.64
Profitability
Industry RankSector Rank
ROA 4.44%
ROE 5.25%
ROCE 5.43%
ROIC 4.58%
ROICexc 6.11%
ROICexgc 8.51%
OM 7.61%
PM (TTM) 6.93%
GM 39.34%
FCFM 1.5%
ROA(3y)5.99%
ROA(5y)6.24%
ROE(3y)7.22%
ROE(5y)7.64%
ROIC(3y)3.1%
ROIC(5y)5.22%
ROICexc(3y)4.46%
ROICexc(5y)7.48%
ROICexgc(3y)6.4%
ROICexgc(5y)11.92%
ROCE(3y)3.67%
ROCE(5y)6.18%
ROICexgc growth 3Y-18.02%
ROICexgc growth 5Y-19.38%
ROICexc growth 3Y-13.71%
ROICexc growth 5Y-13.62%
OM growth 3Y-6.61%
OM growth 5Y-8.72%
PM growth 3Y0.71%
PM growth 5Y-9.36%
GM growth 3Y-1.49%
GM growth 5Y-1.06%
F-Score5
Asset Turnover0.64
Health
Industry RankSector Rank
Debt/Equity 0.01
Debt/FCF 1.04
Debt/EBITDA 0.11
Cap/Depr 275.77%
Cap/Sales 13.21%
Interest Coverage 165.02
Cash Conversion 118.57%
Profit Quality 21.6%
Current Ratio 4.5
Quick Ratio 3.6
Altman-Z 28.17
F-Score5
WACC11.53%
ROIC/WACC0.4
Cap/Depr(3y)180.73%
Cap/Depr(5y)172.69%
Cap/Sales(3y)8.9%
Cap/Sales(5y)8.81%
Profit Quality(3y)48.54%
Profit Quality(5y)72.74%
High Growth Momentum
Growth
EPS 1Y (TTM)12.17%
EPS 3Y1.33%
EPS 5Y-2.84%
EPS Q2Q%70.37%
EPS Next Y49.46%
EPS Next 2Y34.68%
EPS Next 3Y8.15%
EPS Next 5Y23.06%
Revenue 1Y (TTM)2.8%
Revenue growth 3Y1.63%
Revenue growth 5Y2.51%
Sales Q2Q%13.55%
Revenue Next Year18.08%
Revenue Next 2Y12.57%
Revenue Next 3Y8.75%
Revenue Next 5Y9.56%
EBIT growth 1Y34.72%
EBIT growth 3Y-5.09%
EBIT growth 5Y-6.43%
EBIT Next Year103.23%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-85.16%
FCF growth 3Y-43.9%
FCF growth 5Y-36.47%
OCF growth 1Y-1.82%
OCF growth 3Y-4.33%
OCF growth 5Y-7.38%

FORMFACTOR INC / FORM Fundamental Analysis FAQ

What is the fundamental rating for FORM stock?

ChartMill assigns a fundamental rating of 5 / 10 to FORM.


What is the valuation status for FORM stock?

ChartMill assigns a valuation rating of 2 / 10 to FORMFACTOR INC (FORM). This can be considered as Overvalued.


What is the profitability of FORM stock?

FORMFACTOR INC (FORM) has a profitability rating of 6 / 10.


What is the valuation of FORMFACTOR INC based on its PE and PB ratios?

The Price/Earnings (PE) ratio for FORMFACTOR INC (FORM) is 77.79 and the Price/Book (PB) ratio is 7.55.


What is the financial health of FORMFACTOR INC (FORM) stock?

The financial health rating of FORMFACTOR INC (FORM) is 7 / 10.