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.
No risks detected for FORM from our risk checks.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$36.02|
|52 Week High||US$27.77|
|52 Week Low||US$52.39|
|1 Month Change||-5.58%|
|3 Month Change||-1.04%|
|1 Year Change||22.94%|
|3 Year Change||189.32%|
|5 Year Change||241.75%|
|Change since IPO||104.89%|
Recent News & Updates
We Think FormFactor (NASDAQ:FORM) Can Manage Its Debt With Ease
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Is There An Opportunity With FormFactor, Inc.'s (NASDAQ:FORM) 30% Undervaluation?
How far off is FormFactor, Inc. ( NASDAQ:FORM ) from its intrinsic value? Using the most recent financial data, we'll...
Is Now The Time To Put FormFactor (NASDAQ:FORM) On Your Watchlist?
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
FormFactor Hit By Volatile Results, But Leading-Edge Launches Make It Worth A Look
FormFactor has sold off on quarterly volatility as major customers like Intel buy fewer logic probe cards, but the underlying drivers for the business are still in place. Second quarter results were about in line on revenue and better on profits, but management guided to lower margins in the third quarter and flat card volumes. FormFactor will benefit from leading-edge fab investment among its major customers, but the benefits won't likely really show until 2H'22. Leveraged to increasing chip complexity, FormFactor looks more interesting at today's price.
|FORM||US Semiconductor||US Market|
Return vs Industry: FORM underperformed the US Semiconductor industry which returned 38.6% over the past year.
Return vs Market: FORM underperformed the US Market which returned 30% over the past year.
Stable Share Price: FORM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: FORM's weekly volatility (5%) has been stable over the past year.
About the Company
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.
FormFactor Fundamentals Summary
|FORM fundamental statistics|
Is FORM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FORM income statement (TTM)|
|Cost of Revenue||US$441.56m|
Last Reported Earnings
Jun 26, 2021
Next Earnings Date
Oct 27, 2021
|Earnings per share (EPS)||1.03|
|Net Profit Margin||10.63%|
How did FORM perform over the long term?See historical performance and comparison
Is FormFactor undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FORM ($36.02) is trading below our estimate of fair value ($53.54)
Significantly Below Fair Value: FORM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FORM is poor value based on its PE Ratio (35.1x) compared to the US Semiconductor industry average (31.1x).
PE vs Market: FORM is poor value based on its PE Ratio (35.1x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: FORM is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: FORM is good value based on its PB Ratio (3.6x) compared to the US Semiconductor industry average (4.6x).
How is FormFactor forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FORM's forecast earnings growth (24.1% per year) is above the savings rate (2%).
Earnings vs Market: FORM's earnings (24.1% per year) are forecast to grow faster than the US market (15.1% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FORM's revenue (6.2% per year) is forecast to grow slower than the US market (9.9% per year).
High Growth Revenue: FORM's revenue (6.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FORM's Return on Equity is forecast to be high in 3 years time
How has FormFactor performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FORM has high quality earnings.
Growing Profit Margin: FORM's current net profit margins (10.6%) are higher than last year (9.9%).
Past Earnings Growth Analysis
Earnings Trend: FORM's earnings have grown significantly by 33.8% per year over the past 5 years.
Accelerating Growth: FORM's earnings growth over the past year (26.2%) is below its 5-year average (33.8% per year).
Earnings vs Industry: FORM earnings growth over the past year (26.2%) underperformed the Semiconductor industry 70.8%.
Return on Equity
High ROE: FORM's Return on Equity (10.4%) is considered low.
How is FormFactor's financial position?
Financial Position Analysis
Short Term Liabilities: FORM's short term assets ($497.5M) exceed its short term liabilities ($153.9M).
Long Term Liabilities: FORM's short term assets ($497.5M) exceed its long term liabilities ($65.1M).
Debt to Equity History and Analysis
Debt Level: FORM's debt to equity ratio (3.8%) is considered satisfactory.
Reducing Debt: FORM's debt to equity ratio has reduced from 35.1% to 3.8% over the past 5 years.
Debt Coverage: FORM's debt is well covered by operating cash flow (518.9%).
Interest Coverage: FORM earns more interest than it pays, so coverage of interest payments is not a concern.
What is FormFactor current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate FORM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate FORM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if FORM's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if FORM's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of FORM's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Mike Slessor (51 yo)
Dr. Michael D. Slessor, also known as Mike, has been the Chief Executive Officer at FormFactor Inc. since December 28, 2014 and served as its President from October 2013 till December 2014. Dr. Slessor ser...
CEO Compensation Analysis
Compensation vs Market: Mike's total compensation ($USD5.56M) is about average for companies of similar size in the US market ($USD5.21M).
Compensation vs Earnings: Mike's compensation has increased by more than 20% in the past year.
Experienced Management: FORM's management team is considered experienced (4.6 years average tenure).
Experienced Board: FORM's board of directors are considered experienced (5.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
FormFactor, Inc.'s employee growth, exchange listings and data sources
- Name: FormFactor, Inc.
- Ticker: FORM
- Exchange: NasdaqGS
- Founded: 1993
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: US$2.796b
- Shares outstanding: 77.62m
- Website: https://www.formfactor.com
Number of Employees
- FormFactor, Inc.
- 7005 Southfront Road
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/19 23:33|
|End of Day Share Price||2021/10/19 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.