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FormFactor, Inc. (FORM) Stock Analysis | Financial Data & Charts | 100Baggers.club

FormFactor, Inc.

FORM

FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip products, mobile application processors, microprocessors, microcontrollers, and graphic processors, as well as radio frequency, analog, mixed signal, image sensor, electro-optical, dynamic random access memory, NAND flash memory, and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. It also provides probing systems for semiconductor design engineers to capture and analyze accurate data; surface metrology systems for the development, production, and quality control of semiconductor products; thermal subsystems, such as thermal chucks and other test systems used in probe stations and other applications; and precision cryogenic instruments, semiconductor tests, and measurement systems. In addition, the company offers on-site probe card maintenance and service training, seminars, and telephone support services. The company markets and sells its products through direct sales force, manufacturers' representatives, and distributors in the United States, Taiwan, South Korea, China, Japan, Europe, rest of Asia-Pacific, and internationally. FormFactor, Inc. was incorporated in 1993 and is headquartered in Livermore, California.

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FormFactor(FORM) Stock Deep Analysis — An AI Narrative-Priced Cyclical: Why Faster Growth Still Fails to Lift ROIC Above WACC

The market prices FORM as a unique HBM probe-card winner, but the core tension is that growth is coming from lower-margin DRAM/HBM while profits still depend on a shrinking high-margin F&L business. This looks more like a cyclical stock inflated by AI narrative than a structurally high-return asset.

📊 Valuation

Key valuation metrics

EV/EBITDA (TTM)

i

Enterprise Value, EBITDA and Ratio

EV/EBIT (TTM)

i

Enterprise Value, EBIT and Ratio

EV/Sales (TTM)

i

Enterprise Value, Revenue and Ratio

P/E Ratio (TTM)

i

Market Cap, Net Income and Ratio

P/B Ratio (Quarterly)

i

Market Cap, Book Value and Ratio

FCF Yield (TTM)

i

FCF, Enterprise Value and Yield

PR Profit Ratio (PPM)

i

PE Ratio, ROE and Profit Ratio (PR = PE / ROE)

📈 Growth

Revenue, earnings, and per-share growth metrics

Revenue (Quarterly)

i

Quarterly Revenue

Revenue/Share (Quarterly)

i

Revenue Per Share

Net Income (Quarterly)

i

Quarterly Net Income

EPS (Quarterly)

i

Earnings Per Share

Gross Profit/Share (Quarterly)

i

Gross Profit Per Share

OCF/Share (Quarterly)

i

Operating Cash Flow Per Share

FCF/Share (Quarterly)

i

Free Cash Flow Per Share

Operating Leverage (YoY)

i

Change in Operating Income / Change in Revenue

💰 Profitability

Profit margins and return on equity

Gross Margin (TTM)

i

Revenue, Gross Profit and Gross Margin

Operating Margin (TTM)

i

Revenue, Operating Income and Operating Margin

Net Profit Margin (TTM)

i

Revenue, Net Income and Net Profit Margin

ROE (TTM)

i

Equity, Net Income and Return on Equity

ROA (TTM)

i

Assets, Net Income and Return on Assets

ROTCE - Return on Tangible Common Equity (TTM)

i

Net Income, Tangible Common Equity and ROTCE

OCF Margin (TTM)

i

Revenue, Operating Cash Flow and OCF Margin

FCF Margin (TTM)

i

Revenue, Free Cash Flow and FCF Margin

💵 Cash Quality

Cash flow quality and conversion metrics

OCF/NI Ratio (TTM)

i

Operating Cash Flow, Net Income and Ratio

FCF/NI Ratio (TTM)

i

Free Cash Flow, Net Income and Ratio

OCF/Capex (TTM)

i

Operating Cash Flow, Capex and Coverage Ratio

OCF/SBC (TTM)

i

Operating Cash Flow, SBC and Coverage Ratio

🛡️ Leverage & Liquidity

Debt, liquidity, and financial health

Debt/Equity (quarterly)

i

Total Debt, Total Equity and Debt/Equity Ratio

EBITDA/Net Debt (TTM)

i

EBITDA, Net Debt and Coverage Ratio

Interest Coverage (TTM)

i

EBIT, Interest Expense and Coverage Ratio

Current Ratio (quarterly)

i

Current Assets, Current Liabilities and Current Ratio

Quick Ratio (quarterly)

i

Quick Assets, Current Liabilities and Quick Ratio

Altman Z-Score

i

Financial Distress Prediction Model

⚙️ Ops & Cap Efficiency

Asset utilization, working capital, ROIC, and capital efficiency

ROIC (TTM)

i

NOPAT, Invested Capital and Return on Invested Capital

ROCE - Return on Capital Employed (TTM)

i

EBIT, Capital Employed and Return on Capital Employed

Asset Turnover (TTM)

i

Revenue, Total Assets and Turnover Ratio

CapEx/Depreciation - Investment Intensity (TTM)

i

CapEx, Depreciation and Ratio (>1=Expansion, <1=Contraction)

R&D/Gross Profit - R&D Intensity (TTM)

i

R&D Expenses, Gross Profit and Ratio

SG&A/Revenue - SG&A Efficiency (TTM)

i

SG&A Expenses, Revenue and Ratio

Cash Conversion Cycle (TTM)

i

DSO + DIO - DPO (in days)

DSO - Days Sales Outstanding (TTM)

i

Average Receivables and Days Sales Outstanding

DIO - Days Inventory Outstanding (TTM)

i

Average Inventory and Days Inventory Outstanding

DPO - Days Payables Outstanding (TTM)

i

Average Payables and Days Payables Outstanding

Goodwill/Assets (Quarterly)

i

Goodwill as % of Total Assets

🎁 Shareholder Returns

Dividends, share buybacks, dilution, and insider trading activity

Dividend Yield (TTM)

i

Dividend Per Share, Share Price and Dividend Yield

Buyback Yield (TTM)

i

Net Buyback and Buyback Yield

Buyback Yield (3 Years)

i

Net Buyback 3Y and Buyback Yield 3Y

Dilution Rate (1 Year)

i

Current Shares, 1Y Ago Shares and Dilution Rate

Dilution Rate (3 Years)

i

Current Shares, 3Y Ago Shares and Dilution Rate

SBC Offset Rate (TTM)

i

Buyback / Stock-Based Comp and SBC Ratio

Insider Activity Rate (TTM)

i

Insider Net Buying and Activity Rate

P

Profitability Margins

Gross Profit Margini

42.84%

Gross Profit = $0.09B

Revenue = $0.22B

Operating Profit Margini

13.07%

Operating Income = $0.03B

Revenue = $0.22B

EBITDA Margini

12.72%

EBITDA = $0.03B

Revenue = $0.22B

EBIT Margini

12.47%

EBIT = $0.03B

Revenue = $0.22B

Net Profit Margini

10.79%

Net Income = $0.02B

Revenue = $0.22B

Pretax Profit Margini

12.47%

EBT = $0.03B

Revenue = $0.22B

E

Operating Efficiency

Interest Coveragei

N/A (No Interest Expense)

EBIT (TTM) = $0.07B

Interest Expense (TTM) = $0

115.8x

121.1x

115.1x

121.6x

N/A

SG&A / Revenuei

15.62%

SG&A = $0.03B

Revenue = $0.22B

R&D / Revenuei

14.13%

R&D = $0.03B

Revenue = $0.22B

R

Return Metrics (TTM)

ROAi

4.57%

Net Income = $0.05B

Avg Total Assets = $1.19B

ROEi

5.46%

Net Income = $0.05B

Avg Equity = $1.00B

ROICi

7.15%

NOPAT (TTM) = $0.05B

Avg Invested Capital = $0.72B

(NOPAT = Operating Income × (1 - Effective Tax Rate))

(Avg IC = (Current IC + Year-Ago IC) / 2)

Revenue Growthi

13.55%

Current Revenue = $0.22B

Previous Revenue = $0.19B

+12.7%

+1.6%

-0.8%

-2.5%

+13.6%

Operating Cash Flow/Sharei

$1.46

Operating CF = $0.12B

Diluted Shares = 0.08B

$1.51

$1.39

$1.35

$1.36

$1.46

Comprehensive Analysis

Income Statement Items	YoY Growth	Current Quarter Value	Trend
Revenue	+13.6%	$0.22B	↑
Gross Profit	+25.3%	$0.09B, 42.84%	↑
Operating Income	+258.2%	$0.03B, 13.07%	↑
EBITDA	-47.6%	$0.03B, 12.72%	↓
EBT	+124.8%	$0.03B, 12.47%	↑
Net Income	+139.2%	$0.02B, 10.79%	↑
Diluted EPS	+141.7%	0.29	↑

L

Liquidity Metrics

Current Ratioi

4.50

Healthy

Total Current Assets = $0.56B

Total Current Liabilities = $0.12B

Quick Ratioi

3.60

Healthy

Quick Assets = $0.45B

Total Current Liabilities = $0.12B

Cash Ratioi

2.22

Healthy

Cash & Equivalents = $0.28B

Total Current Liabilities = $0.12B

Cash Ratio = (Cash + Short-term Investments) / Current Liabilities

L

Leverage Metrics

Debt to Equityi

0.04

Healthy

Total Debt = $0.04B

Total Equity = $1.04B

Liabilities to Assetsi

15.4%

Healthy

Total Liabilities = $0.19B

Total Assets = $1.22B

Equity Multiplieri

1.18

Healthy

Total Assets = $1.22B

Total Equity = $1.04B

E

Efficiency Metrics

Asset Turnoveri

0.66

Normal

Revenue (TTM) = $0.78B

Avg Total Assets = $1.19B

Inventory Turnoveri

4.32

Attention

COGS (TTM) = $0.47B

Avg Inventory = $0.11B

Receivables Turnoveri

6.07

Normal

Revenue (TTM) = $0.78B

Avg Receivables = $0.13B

S

Solvency Metrics

Interest Coveragei

N/A

Normal

EBIT (TTM) = $0.07B

Interest Expense (TTM) = $0.00B

Net Debt to EBITDAiNet Debt/EBITDA

-0.63

Healthy

Net Debt = $-0.06B

EBITDA (TTM) = $0.09B

Debt Service Coveragei

12.72

Healthy

Operating CF (TTM) = $0.12B

Debt Service = $0.01B

V

Value Metrics

Goodwill %iGoodwill/Assets

17.6%

Normal

Goodwill = $0.22B

Total Assets = $1.22B

Working Capital Ratioi

0.35

Healthy

Working Capital = $0.43B

Total Assets = $1.22B

C

Cash Flow Metrics

Operating Cash Flow TTMi

$0.12B

Free Cash Flow TTMi

$0.01B

FCF = OCF - CapEx

OCF (TTM) = $0.12B

CapEx (TTM) = $-0.10B

FCF Yieldi

0.21%

Attention

FCF (TTM) = $0.01B

Market Cap = $5.54B

OCF/Sales Ratioi

14.70%

Normal

OCF (TTM) = $0.12B

Revenue (TTM) = $0.78B

Q

Quality & Coverage Metrics

Income Qualityi

2.12x

Healthy

OCF (TTM) = $0.12B

Net Income (TTM) = $0.05B

Cash Flow/Debti

2.57x

Healthy

OCF (TTM) = $0.12B

Total Debt = $0.04B

Short Term Coveragei

0.93x

Healthy

OCF (TTM) = $0.12B

Current Liabilities = $0.12B

Capex Coveragei

1.11x

Attention

OCF (TTM) = $0.12B

CapEx (TTM) = $0.10B

E

Efficiency Metrics

⚡ Ratios calculated in USD to eliminate exchange rate impact

FCF/OCF Ratioi

10.17%

Attention

FCF (TTM) = $0.01B

OCF (TTM) = $0.12B

Capex/Revenuei

13.21%

Attention

CapEx (TTM) = $0.10B

Revenue (TTM) = $0.78B

Net Debt/EBITDAi

-0.63

Healthy

Net Debt = $-0.06B

EBITDA (TTM) = $0.09B

G

Growth Metrics

OCF Growthi

28.02%

Healthy

Current OCF (TTM) = $0.05B

Previous OCF = $0.04B

Owner Earningsi

$-0.03B

Attention

Net Income (TTM) = $0.05B

+ D&A (TTM) = $0.02B

- CapEx (TTM) = $-0.10B