FORMFACTOR INC (FORM) Fundamental Analysis & Valuation
NASDAQ:FORM • US3463751087
92.6 USD
-0.18 (-0.19%)
At close: Mar 4, 2026
92.6 USD
0 (0%)
After Hours: 3/4/2026, 8:27:34 PM
This FORM fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Taking everything into account, FORM scores 5 out of 10 in our fundamental rating. FORM was compared to 115 industry peers in the Semiconductors & Semiconductor Equipment industry. FORM has an excellent financial health rating, but there are some minor concerns on its profitability. FORM is quite expensive at the moment. It does show a decent growth rate.
1. FORM Profitability Analysis
1.1 Basic Checks
- In the past year FORM was profitable.
- FORM had a positive operating cash flow in the past year.
- In the past 5 years FORM has always been profitable.
- FORM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- With a decent Return On Assets value of 4.44%, FORM is doing good in the industry, outperforming 64.35% 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 62.61% 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 10.50%.
- The last Return On Invested Capital (4.58%) for FORM is above the 3 year average (3.10%), which is a sign of increasing profitability.
| Industry Rank | Sector 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%
1.3 Margins
- With a Profit Margin value of 6.93%, FORM perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
- In the last couple of years the Profit Margin of FORM has declined.
- FORM has a Operating Margin of 7.61%. This is in the better half of the industry: FORM outperforms 61.74% of its industry peers.
- FORM's Operating Margin has declined in the last couple of years.
- FORM has a Gross Margin of 39.34%. This is comparable to the rest of the industry: FORM outperforms 42.61% of its industry peers.
- FORM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
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.
- FORM has more shares outstanding than it did 1 year ago.
- The number of shares outstanding for FORM has been increased compared to 5 years ago.
- FORM has a better debt/assets ratio than last year.
2.2 Solvency
- An Altman-Z score of 24.22 indicates that FORM is not in any danger for bankruptcy at the moment.
- FORM has a better Altman-Z score (24.22) than 88.70% 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.
- FORM's Debt to FCF ratio of 1.04 is fine compared to the rest of the industry. FORM outperforms 72.17% of its industry peers.
- A Debt/Equity ratio of 0.01 indicates that FORM is not too dependend on debt financing.
- FORM has a better Debt to Equity ratio (0.01) than 67.83% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 1.04 | ||
| Altman-Z | 24.22 |
ROIC/WACC0.41
WACC11.1%
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.
- With a decent Current ratio value of 4.50, FORM is doing good in the industry, outperforming 66.09% of the companies in the same industry.
- 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.
- Looking at the Quick ratio, with a value of 3.60, FORM is in the better half of the industry, outperforming 68.70% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.5 | ||
| Quick Ratio | 3.6 |
3. FORM Growth Analysis
3.1 Past
- FORM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.17%, which is quite good.
- FORM shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.84% yearly.
- Looking at the last year, FORM shows a small growth in Revenue. The Revenue has grown by 2.80% in the last year.
- Measured over the past years, FORM shows a small growth in Revenue. The Revenue has been growing by 2.51% on average per year.
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
- The Earnings Per Share is expected to grow by 23.06% on average over the next years. This is a very strong growth
- Based on estimates for the next years, FORM will show a quite strong growth in Revenue. The Revenue will grow by 9.56% on average per year.
EPS Next Y25.64%
EPS Next 2Y23.64%
EPS Next 3Y18.42%
EPS Next 5Y23.06%
Revenue Next Year17.3%
Revenue Next 2Y12.29%
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.
4. FORM Valuation Analysis
4.1 Price/Earnings Ratio
- FORM is valuated quite expensively with a Price/Earnings ratio of 71.78.
- FORM's Price/Earnings ratio is in line with the industry average.
- Compared to an average S&P500 Price/Earnings ratio of 27.03, FORM is valued quite expensively.
- A Price/Forward Earnings ratio of 57.13 indicates a quite expensive valuation of FORM.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of FORM is on the same level as its industry peers.
- Compared to an average S&P500 Price/Forward Earnings ratio of 25.11, FORM is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 71.78 | ||
| Fwd PE | 57.13 |
4.2 Price Multiples
- FORM's Enterprise Value to EBITDA is on the same level as the industry average.
- FORM's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 611.44 | ||
| EV/EBITDA | 69.29 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FORM does not grow enough to justify the current Price/Earnings ratio.
- FORM's earnings are expected to grow with 18.42% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.8
PEG (5Y)N/A
EPS Next 2Y23.64%
EPS Next 3Y18.42%
5. FORM Dividend Analysis
5.1 Amount
- FORM does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
FORM Fundamentals: All Metrics, Ratios and Statistics
92.6
-0.18 (-0.19%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)02-04 2026-02-04/amc
Earnings (Next)04-28 2026-04-28
Inst Owners98.17%
Inst Owner Change-0.55%
Ins Owners0.86%
Ins Owner Change-9.39%
Market Cap7.18B
Revenue(TTM)784.99M
Net Income(TTM)54.36M
Analysts75
Price Target85.79 (-7.35%)
Short Float %3.76%
Short Ratio2
Dividend
| Industry Rank | Sector 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)47.56%
PT rev (3m)58.7%
EPS NQ rev (1m)45.12%
EPS NQ rev (3m)47.55%
EPS NY rev (1m)-0.38%
EPS NY rev (3m)1.22%
Revenue NQ rev (1m)10.9%
Revenue NQ rev (3m)11.46%
Revenue NY rev (1m)5.85%
Revenue NY rev (3m)6.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 71.78 | ||
| Fwd PE | 57.13 | ||
| P/S | 9.14 | ||
| P/FCF | 611.44 | ||
| P/OCF | 62.21 | ||
| P/B | 6.93 | ||
| P/tB | 8.94 | ||
| EV/EBITDA | 69.29 |
EPS(TTM)1.29
EY1.39%
EPS(NY)1.62
Fwd EY1.75%
FCF(TTM)0.15
FCFY0.16%
OCF(TTM)1.49
OCFY1.61%
SpS10.13
BVpS13.36
TBVpS10.36
PEG (NY)2.8
PEG (5Y)N/A
Graham Number19.69
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 24.22 |
F-Score5
WACC11.1%
ROIC/WACC0.41
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 Y25.64%
EPS Next 2Y23.64%
EPS Next 3Y18.42%
EPS Next 5Y23.06%
Revenue 1Y (TTM)2.8%
Revenue growth 3Y1.63%
Revenue growth 5Y2.51%
Sales Q2Q%13.55%
Revenue Next Year17.3%
Revenue Next 2Y12.29%
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 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 5 / 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 71.78 and the Price/Book (PB) ratio is 6.93.
What is the financial health of FORMFACTOR INC (FORM) stock?
The financial health rating of FORMFACTOR INC (FORM) is 7 / 10.