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FormFactor

Nasdaq:FORM
Snowflake Description

Excellent balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FORM
Nasdaq
$1B
Market Cap
  1. Home
  2. US
  3. Semiconductors
Company description

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. The last earnings update was 52 days ago. More info.


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  • FormFactor has significant price volatility in the past 3 months.
FORM Share Price and Events
7 Day Returns
-1.2%
NasdaqGS:FORM
4.4%
US Semiconductor
0.2%
US Market
1 Year Returns
29.8%
NasdaqGS:FORM
12.5%
US Semiconductor
6.3%
US Market
FORM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
FormFactor (FORM) -1.2% 16.1% 31.9% 29.8% 148.6% 211.8%
US Semiconductor 4.4% 9.7% 24.1% 12.5% 105% 124.5%
US Market 0.2% 2.1% 8.5% 6.3% 37.9% 45.7%
1 Year Return vs Industry and Market
  • FORM outperformed the Semiconductor industry which returned 12.5% over the past year.
  • FORM outperformed the Market in United States of America which returned 6.3% over the past year.
Price Volatility
FORM
Industry
5yr Volatility vs Market

Value

 Is FormFactor undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of FormFactor to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for FormFactor.

NasdaqGS:FORM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FORM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.136 (1 + (1- 21%) (4.75%))
1.12
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.12 * 5.96%)
9.4%

Discounted Cash Flow Calculation for NasdaqGS:FORM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for FormFactor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:FORM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.4%)
2019 41.18 Est @ -19.1% 37.64
2020 36.01 Est @ -12.55% 30.09
2021 33.14 Est @ -7.96% 25.31
2022 31.57 Est @ -4.76% 22.04
2023 30.77 Est @ -2.51% 19.64
2024 30.49 Est @ -0.94% 17.78
2025 30.53 Est @ 0.16% 16.28
2026 30.82 Est @ 0.93% 15.02
2027 31.27 Est @ 1.47% 13.93
2028 31.85 Est @ 1.85% 12.97
Present value of next 10 years cash flows $210.68
NasdaqGS:FORM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $31.85 × (1 + 2.73%) ÷ (9.4% – 2.73%)
$490.36
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $490.36 ÷ (1 + 9.4%)10
$199.63
NasdaqGS:FORM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $210.68 + $199.63
$410.31
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $410.31 / 74.49
$5.51
NasdaqGS:FORM Discount to Share Price
Calculation Result
Value per share (USD) From above. $5.51
Current discount Discount to share price of $18.30
= -1 x ($18.30 - $5.51) / $5.51
-232.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of FormFactor is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for FormFactor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are FormFactor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FORM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-29) in USD $1.42
NasdaqGS:FORM Share Price ** NasdaqGS (2019-04-18) in USD $18.3
United States of America Semiconductor Industry PE Ratio Median Figure of 69 Publicly-Listed Semiconductor Companies 20.24x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of FormFactor.

NasdaqGS:FORM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FORM Share Price ÷ EPS (both in USD)

= 18.3 ÷ 1.42

12.93x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FormFactor is good value based on earnings compared to the US Semiconductor industry average.
  • FormFactor is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does FormFactor's expected growth come at a high price?
Raw Data
NasdaqGS:FORM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.93x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-61.6%per year
United States of America Semiconductor Industry PEG Ratio Median Figure of 64 Publicly-Listed Semiconductor Companies 1.23x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NasdaqGS:FORM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.93x ÷ -61.6%

-0.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FormFactor earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on FormFactor's assets?
Raw Data
NasdaqGS:FORM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-29) in USD $7.83
NasdaqGS:FORM Share Price * NasdaqGS (2019-04-18) in USD $18.3
United States of America Semiconductor Industry PB Ratio Median Figure of 107 Publicly-Listed Semiconductor Companies 2.84x
United States of America Market PB Ratio Median Figure of 5,178 Publicly-Listed Companies 1.91x
NasdaqGS:FORM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FORM Share Price ÷ Book Value per Share (both in USD)

= 18.3 ÷ 7.83

2.34x

* Primary Listing of FormFactor.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • FormFactor is good value based on assets compared to the US Semiconductor industry average.
X
Value checks
We assess FormFactor's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. FormFactor has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is FormFactor expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-61.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is FormFactor expected to grow at an attractive rate?
  • FormFactor's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • FormFactor's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • FormFactor's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FORM Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FORM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -61.6%
NasdaqGS:FORM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 5.6%
United States of America Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 11.2%
United States of America Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FORM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FORM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 595 39 4
2019-12-31 549 36 5
2018-12-31 525 66 29 6
NasdaqGS:FORM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-29 530 69 104
2018-09-29 521 73 25
2018-06-30 529 74 29
2018-03-31 538 78 38
2017-12-30 548 86 41
2017-09-30 540 75 20
2017-07-01 520 63 -7
2017-04-01 459 38 12
2016-12-31 384 17 -7
2016-09-24 332 9 8
2016-06-25 274 11 20
2016-03-26 265 26 -16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • FormFactor's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • FormFactor's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FORM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from FormFactor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FORM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.48 0.61 0.41 3.00
2019-12-31 0.41 0.70 0.22 4.00
2018-12-31 0.38 0.44 0.35 5.00
NasdaqGS:FORM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-29 1.42
2018-09-29 0.34
2018-06-30 0.40
2018-03-31 0.52
2017-12-30 0.57
2017-09-30 0.28
2017-07-01 -0.10
2017-04-01 0.18
2016-12-31 -0.10
2016-09-24 0.13
2016-06-25 0.34
2016-03-26 -0.28

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if FormFactor will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess FormFactor's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
FormFactor has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has FormFactor performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare FormFactor's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • FormFactor has delivered over 20% year on year earnings growth in the past 5 years.
  • FormFactor's 1-year earnings growth exceeds its 5-year average (155.7% vs 78.3%)
  • FormFactor's earnings growth has exceeded the US Semiconductor industry average in the past year (155.7% vs 43.1%).
Earnings and Revenue History
FormFactor's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from FormFactor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FORM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-29 529.68 104.04 99.09 74.98
2018-09-29 520.69 24.52 97.66 75.09
2018-06-30 529.44 29.40 96.93 75.57
2018-03-31 537.90 37.85 95.30 74.44
2017-12-30 548.44 40.91 94.68 73.81
2017-09-30 540.43 19.88 87.83 73.51
2017-07-01 519.99 -6.88 86.83 71.43
2017-04-01 459.10 12.43 77.26 64.02
2016-12-31 383.88 -6.56 66.94 57.45
2016-09-24 331.78 8.27 60.27 50.47
2016-06-25 274.34 19.94 48.37 43.86
2016-03-26 265.14 -16.11 45.72 43.95
2015-12-26 282.36 -1.52 45.09 44.18
2015-09-26 281.86 -2.78 47.00 43.65
2015-06-27 289.93 -0.53 49.21 44.21
2015-03-28 283.40 -5.69 51.01 44.06
2014-12-27 268.53 -19.19 51.39 42.73
2014-09-27 245.79 -36.10 49.61 42.01
2014-06-28 239.49 -46.54 49.26 41.12
2014-03-29 234.87 -50.62 49.55 40.96
2013-12-28 231.53 -57.68 53.22 42.14
2013-09-28 230.64 -38.29 53.02 41.92
2013-06-29 204.27 -42.06 51.66 40.19
2013-03-30 196.35 -37.87 49.70 40.21
2012-12-29 178.54 -35.55 49.23 40.13
2012-09-29 161.11 -63.12 46.24 41.04
2012-06-30 171.96 -58.55 45.84 42.89

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • FormFactor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • FormFactor used its assets more efficiently than the US Semiconductor industry average last year based on Return on Assets.
  • FormFactor has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess FormFactor's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
FormFactor has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is FormFactor's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up FormFactor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • FormFactor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • FormFactor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of FormFactor's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from FormFactor Company Filings, last reported 3 months ago.

NasdaqGS:FORM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-29 580.16 64.81 149.00
2018-09-29 490.05 72.25 142.10
2018-06-30 478.67 84.66 142.90
2018-03-31 471.01 97.05 142.07
2017-12-30 458.64 105.67 140.17
2017-09-30 454.85 114.28 134.89
2017-07-01 434.61 122.89 129.97
2017-04-01 415.35 131.47 121.93
2016-12-31 401.06 138.18 108.91
2016-09-24 415.62 146.94 107.41
2016-06-25 423.58 148.49 118.33
2016-03-26 286.21 0.00 187.18
2015-12-26 294.68 0.00 187.59
2015-09-26 293.53 0.00 183.84
2015-06-27 295.01 0.00 178.76
2015-03-28 295.37 0.00 171.65
2014-12-27 289.44 0.00 163.84
2014-09-27 289.23 0.00 154.37
2014-06-28 285.01 0.00 149.04
2014-03-29 285.51 0.14 144.00
2013-12-28 294.09 0.27 151.09
2013-09-28 310.68 0.40 156.34
2013-06-29 316.88 0.54 154.52
2013-03-30 322.61 0.70 153.56
2012-12-29 339.26 0.91 165.79
2012-09-29 322.45 0.00 276.16
2012-06-30 332.41 0.00 277.72
  • FormFactor's level of debt (11.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 11.2% today).
  • Debt is well covered by operating cash flow (106%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.5x coverage).
X
Financial health checks
We assess FormFactor's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. FormFactor has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is FormFactor's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from FormFactor dividends. Estimated to be 0% next year.
If you bought $2,000 of FormFactor shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate FormFactor's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate FormFactor's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FORM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 2.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FORM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2018-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as FormFactor has not reported any payouts.
  • Unable to verify if FormFactor's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of FormFactor's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as FormFactor has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of FormFactor's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess FormFactor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can FormFactor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. FormFactor has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of FormFactor's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mike Slessor
COMPENSATION $3,005,937
AGE 48
TENURE AS CEO 4.3 years
CEO Bio

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 served as the President of FormFactor Inc. since October 24, 2013. Dr. Slessor served as President and Chief Executive Officer at MicroProbe, Inc. from July 2008 to October 2012. Dr. Slessor also serves as President and Chief Executive Officer of Astria Semiconductor. Dr. Slessor served as Senior Vice President and General Manager of MicroProbe Product Business Unit at FormFactor Inc., since October 2012. Prior to joining Microprobe, Dr. Slessor held various management, product-marketing and applications-engineering positions in the semiconductor industry, most notably with KLA-Tencor, where he led marketing and applications for its fastest growing division. In addition, Dr. Slessor held roles in thin films and photolithography process engineering at Honeywell Electronic Materials and served as Managing Director of the Office of Technology Transfer at the California Institute of Technology (Caltech). Dr. Slessor serves as a Director of Astria Semiconductor Holdings, Inc. Dr. Slessor was President and Chief Executive Officer of MicroProbe from July 2008 through the October 2012 closing of FormFactor’s acquisition of MicroProbe. Dr. Slessor has been Director of FormFactor Inc. since October 24, 2013. Dr. Slessor received his Ph.D. in Aeronautics and Physics from Caltech and his B.A.Sc. in Engineering Physics (First Class Honors) from the University of British Columbia.

CEO Compensation
  • Mike's compensation has increased by more than 20% in the past year.
  • Mike's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the FormFactor management team in years:

2.4
Average Tenure
48
Average Age
  • The tenure for the FormFactor management team is about average.
Management Team

Mike Slessor

TITLE
CEO & Director
COMPENSATION
$3M
AGE
48
TENURE
4.3 yrs

Shai Shahar

TITLE
Chief Financial Officer
AGE
46
TENURE
1.1 yrs

January Kister

TITLE
CTO and Senior VP of Technology R&D
TENURE
5.3 yrs

Stan Finkelstein

TITLE
Head of Investor Relations

Jason Cohen

TITLE
VP, General Counsel & Secretary
TENURE
3.7 yrs

Amy Leong

TITLE
Chief Marketing Officer and Senior VP of Mergers & Acquisitions
TENURE
2 yrs

Rob Selley

TITLE
Senior Vice President of Worldwide Sales & Service
AGE
49
TENURE
2 yrs

Tim Mueller

TITLE
Vice President of Global Human Resources
TENURE
2.8 yrs

Matt Losey

TITLE
Senior VP & GM of Probes Business Unit
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the FormFactor board of directors in years:

6.7
Average Tenure
62.5
Average Age
  • The tenure for the FormFactor board of directors is about average.
Board of Directors

Tom Dennis

TITLE
Chairman
COMPENSATION
$200K
AGE
64
TENURE
5.5 yrs

Mike Slessor

TITLE
CEO & Director
COMPENSATION
$3M
AGE
48
TENURE
5.5 yrs

Ed Rogas

TITLE
Independent Director
COMPENSATION
$190K
AGE
78
TENURE
8.5 yrs

Mike Zellner

TITLE
Independent Director
COMPENSATION
$202K
AGE
62
TENURE
8 yrs

Ray Link

TITLE
Independent Director
COMPENSATION
$186K
AGE
64
TENURE
2.8 yrs

Lothar Maier

TITLE
Independent Director
COMPENSATION
$193K
AGE
63
TENURE
12.4 yrs

Rich DeLateur

TITLE
Director
COMPENSATION
$200K
AGE
60
TENURE
7.9 yrs

Kelley Steven-Waiss

TITLE
Independent Director
COMPENSATION
$187K
AGE
49
TENURE
3.7 yrs
Who owns this company?
Recent Insider Trading
  • FormFactor insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
14. Mar 19 Sell Kelley Steven-Waiss Individual 13. Mar 19 13. Mar 19 -1,200 $15.42 $-18,504
21. Feb 19 Sell Thomas Dennis Individual 20. Feb 19 20. Feb 19 -8,000 $15.99 $-127,895
15. Feb 19 Sell Kelley Steven-Waiss Individual 12. Feb 19 12. Feb 19 -7,000 $15.50 $-108,522
11. Sep 18 Sell Michael Zellner Individual 07. Sep 18 07. Sep 18 -11,000 $13.49 $-148,397
16. Aug 18 Sell Richard DeLateur Individual 14. Aug 18 14. Aug 18 -6,000 $14.07 $-84,430
15. May 18 Sell Kelley Steven-Waiss Individual 14. May 18 14. May 18 -8,000 $13.22 $-105,769
15. May 18 Sell Michael Zellner Individual 11. May 18 11. May 18 -15,400 $13.09 $-201,625
X
Management checks
We assess FormFactor's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. FormFactor has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why We Think FormFactor, Inc. (NASDAQ:FORM) Could Be Worth Looking At

Building up an investment case requires looking at a stock holistically. … is a company with great financial health as well as a. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

Investors Who Bought FormFactor (NASDAQ:FORM) Shares Five Years Ago Are Now Up 146%

One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the five years of share price growth, FormFactor moved from a loss to profitability. … That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here

Simply Wall St -

Do You Like FormFactor, Inc. (NASDAQ:FORM) At This P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … FormFactor has a price to earnings ratio of 10.86, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

How Do FormFactor, Inc.’s (NASDAQ:FORM) Returns Compare To Its Industry?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Did FormFactor, Inc. (NASDAQ:FORM) Use Debt To Deliver Its ROE Of 18%?

Our data shows FormFactor has a return on equity of 18% for the last year. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.18 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Be Worried About Insider Transactions At FormFactor, Inc. (NASDAQ:FORM)?

We often see insiders buying up shares in companies that perform well over the long term. … So we'll take a look at whether insiders have been buying or selling shares in FormFactor, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

What Is FormFactor, Inc.'s (NASDAQ:FORM) Share Price Doing?

(NASDAQ:FORM), which is in the semiconductor business, and is based in United States,. … As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s take a look at FormFactor’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Does FormFactor, Inc.'s (NASDAQ:FORM) CEO Pay Matter?

In 2014 Mike Slessor was appointed CEO of FormFactor, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Mike Slessor's Compensation Compare With Similar Sized Companies?

Simply Wall St -

A Look At The Fair Value Of FormFactor, Inc. (NASDAQ:FORM)

by taking the expected future cash flows and discounting them to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Is FormFactor, Inc.'s (NASDAQ:FORM) Balance Sheet A Threat To Its Future?

Investors are always looking for growth in small-cap stocks like FormFactor, Inc. … However, an important fact which most ignore is: how financially healthy is the business? … Companies operating in the Semiconductor industry,.

Simply Wall St -

Company Info

Description

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.

Details
Name: FormFactor, Inc.
FORM
Exchange: NasdaqGS
Founded: 1993
$1,363,139,513
74,488,498
Website: http://www.formfactor.com
Address: FormFactor, Inc.
7005 Southfront Road,
Livermore,
California, 94551,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FORM Common Stock Nasdaq Global Select US USD 12. Jun 2003
DB FMF Common Stock Deutsche Boerse AG DE EUR 12. Jun 2003
Number of employees
Current staff
Staff numbers
1,676
FormFactor employees.
Industry
Semiconductor Equipment
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 23:46
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/02/26
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/29
Last annual earnings reported: 2018/12/29


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.