FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services.
Excellent balance sheet with reasonable growth potential.
Share Price & News
How has FormFactor's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FMF has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FMF exceeded the German Semiconductor industry which returned 16.7% over the past year.
Return vs Market: FMF exceeded the German Market which returned 15% over the past year.
Price Volatility Vs. Market
How volatile is FormFactor's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is FormFactor undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FMF (€25) is trading above our estimate of fair value (€14.21)
Significantly Below Fair Value: FMF is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FMF is poor value based on its PE Ratio (51.3x) compared to the Semiconductor industry average (28x).
PE vs Market: FMF is poor value based on its PE Ratio (51.3x) compared to the German market (21.1x).
Price to Earnings Growth Ratio
PEG Ratio: FMF is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: FMF is overvalued based on its PB Ratio (3.2x) compared to the DE Semiconductor industry average (2.4x).
How is FormFactor forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FMF's forecast earnings growth (24.7% per year) is above the savings rate (-0.4%).
Earnings vs Market: FMF's earnings (24.7% per year) are forecast to grow faster than the German market (13.3% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FMF's revenue (5.3% per year) is forecast to grow faster than the German market (5% per year).
High Growth Revenue: FMF's revenue (5.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FMF's Return on Equity is forecast to be low in 3 years time (10.1%).
How has FormFactor performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FMF has high quality earnings.
Growing Profit Margin: FMF's current net profit margins (6.7%) are lower than last year (19.5%).
Past Earnings Growth Analysis
Earnings Trend: FMF has become profitable over the past 5 years, growing earnings by 65.1% per year.
Accelerating Growth: FMF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FMF had negative earnings growth (-61.9%) over the past year, making it difficult to compare to the Semiconductor industry average (-17.8%).
Return on Equity
High ROE: FMF's Return on Equity (6.1%) is considered low.
Return on Assets
Return on Capital Employed
How is FormFactor's financial position?
Financial Position Analysis
Short Term Liabilities: FMF's short term assets ($419.0M) exceed its short term liabilities ($136.6M).
Long Term Liabilities: FMF's short term assets ($419.0M) exceed its long term liabilities ($62.3M).
Debt to Equity History and Analysis
Debt Level: FMF's debt to equity ratio (9.1%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if FMF's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: FMF's debt is well covered by operating cash flow (207%).
Interest Coverage: FMF earns more interest than it pays, so coverage of interest payments is not a concern.
Inventory Level: FMF has a high level of physical assets or inventory.
Debt Coverage by Assets: FMF's debt is covered by short term assets (assets are 7.2x debt).
What is FormFactor's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate FMF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate FMF's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if FMF's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if FMF's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of FMF's dividend in 3 years as they are not forecast to pay a notable one for the German market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mike Slessor (49yo)
Dr. Michael D. Slessor, also known as Mike, has been the Chief Executive Officer at FormFactor Inc. since December 28, 2014 and served as its President from October 2013 till December 2014. Dr. Slessor ser ...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD3.68M) is above average for companies of similar size in the German market ($USD1.49M).
Compensation vs Earnings: Mike's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|CEO & Director||5.2yrs||US$3.68m||0.44% $8.3m|
|Chief Financial Officer||1.9yrs||US$1.91m||0.013% $249.3k|
|CTO and Senior VP of Technology R&D||6.1yrs||no data||no data|
|Head of Investor Relations||0yrs||no data||no data|
|VP, General Counsel & Secretary||4.5yrs||no data||no data|
|Chief Marketing Officer and Senior VP of Mergers & Acquisitions||2.8yrs||no data||no data|
|Senior Vice President of Worldwide Sales & Service||2.8yrs||no data||no data|
|Vice President of Global Human Resources||3.6yrs||no data||no data|
|Senior VP & GM of Probes Business Unit||2.9yrs||no data||no data|
Experienced Management: FMF's management team is considered experienced (3.3 years average tenure).
|CEO & Director||5.2yrs||US$3.68m||0.44% $8.3m|
|Independent Director||13.3yrs||US$178.12k||0.11% $2.2m|
|Independent Director||9.3yrs||US$177.00k||0.051% $967.1k|
|Independent Chairman||6.3yrs||US$187.00k||0.048% $892.9k|
|Director Emeritus||0yrs||US$189.00k||0.055% $1.0m|
|Independent Director||3.7yrs||US$176.97k||0.068% $1.3m|
|Director Emeritus||0yrs||US$187.40k||0.033% $620.1k|
|Independent Director||4.5yrs||US$174.50k||0.017% $320.0k|
|Director||0.2yrs||no data||no data|
|Director||0.4yrs||no data||no data|
Experienced Board: FMF's board of directors are considered experienced (5.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FMF insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.1%.
FormFactor, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: FormFactor, Inc.
- Ticker: FMF
- Exchange: DB
- Founded: 1993
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: US$2.037b
- Listing Market Cap: US$1.879b
- Shares outstanding: 75.76m
- Website: https://www.formfactor.com
Number of Employees
- FormFactor, Inc.
- 7005 Southfront Road
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FORM||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jun 2003|
|FMF||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jun 2003|
FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, integrated measurement systems, and thermal sub-systems, as well as provides related services. It operates in two segments, Probe Cards and Systems. The company offers probe cards that are used to test various semiconductor device types, including system 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; integrated measurement systems that include test instrumentation, probe, cabling configurations, and software to enable fast, accurate, and on-wafer data collection for complex application and measurement needs; thermal subsystems that produce thermal chucks and other test systems used in probe stations. In addition, the company offers on-site probe card maintenance and service training, seminars, and telephone support services. FormFactor, Inc. markets and sells its products through direct sales force, manufacturers’ representatives, and distributors in the United States, Taiwan, South Korea, China, Japan, Europe, the Asia-Pacific, and internationally. The company was founded in 1993 and is headquartered in Livermore, California.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/16 20:50|
|End of Day Share Price||2020/02/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.