FormFactor, Inc.

NasdaqGS:FORM Stock Report

Market Cap: US$9.7b

FormFactor Future Growth

Future criteria checks 4/6

FormFactor is forecast to grow earnings and revenue by 49.6% and 14.9% per annum respectively while EPS is expected to grow by 36.3% per annum.

Key information

49.6%

Earnings growth rate

36.26%

EPS growth rate

Semiconductor earnings growth26.1%
Revenue growth rate14.9%
Future return on equityn/a
Analyst coverage

Good

Last updated15 May 2026

Recent future growth updates

Analysis Article • Feb 07

Results: FormFactor, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Shareholders will be ecstatic, with their stake up 28% over the past week following FormFactor, Inc. 's ( NASDAQ:FORM...

Recent updates

Narrative Update • May 19

FORM: Record Q2 Guidance And Mixed Messaging Will Likely Trigger Downside Repricing

FormFactor's analyst fair value estimate has been updated from $64.00 to $77.62. Analysts point to higher modeled revenue growth, slightly stronger profit margins, a modestly lower future P/E multiple, and a higher discount rate following a series of recent price target revisions, both upward and downward, across the Street.
Seeking Alpha • May 19

FormFactor: Compelling Entry After Investor Day Selloff

Summary FormFactor (FORM) dropped 12.8% after unveiling an ambitious 2030 plan targeting $1.6B revenue, 55% gross margin, and $5.00 non-GAAP EPS. FORM’s forward thesis centers on HBM4 share gains, GPU and co-packaged optics catalysts, and a Texas plant expansion unlocking probe-card capacity. Valuation remains stretched at 12.06x forward sales, with execution risk tied to Texas plant readiness and potential earnings misses impacting 2027 guidance. I initiate a Buy rating with a $165 fair value, viewing the post-Investor Day selloff as a compelling entry ahead of multiple near-term catalysts. Read the full article on Seeking Alpha
Analysis Article • May 13

FormFactor's (NASDAQ:FORM) Performance Is Even Better Than Its Earnings Suggest

The subdued stock price reaction suggests that FormFactor, Inc.'s ( NASDAQ:FORM ) strong earnings didn't offer any...
Narrative Update • Apr 29

FORM: Future Returns Will Depend On Rich Multiples Despite Rising Execution Concerns

FormFactor's analyst fair value estimate has been revised from $86.89 to $101.56. This change reflects updated assumptions on growth and profitability as analysts respond to a wave of recent price target changes across the Street.
Narrative Update • Apr 13

FORM: Future Returns Will Depend On Sustaining High Multiples Despite Execution Risks

Analysts have raised the implied fair value estimate for FormFactor by about $3 to $86.89. This reflects a slightly lower discount rate and a higher future P/E assumption, even as opinions on the stock's rating and price targets have recently been mixed across firms.
Narrative Update • Mar 30

FORM: High Bandwidth Memory And New Partnerships Will Support Margins Into 2026

FormFactor's fair value estimate has increased from $88.00 to $100.00 as analysts raise price targets following broader Street research updates on the stock. Analyst Commentary Recent Street research on FormFactor has been largely supportive, with a series of bullish analysts lifting price targets across multiple firms.
Narrative Update • Mar 16

FORM: Future Returns Will Depend On Executing Quantum Roadmap And Margin Assumptions

Analysts have lifted their average price targets on FormFactor by double digit dollar amounts, citing refreshed models that incorporate the recent series of target increases from firms including B. Riley, Northland, Craig-Hallum, Evercore ISI, Stifel, TD Cowen and Citi.
Narrative Update • Mar 02

FORM: Future Returns Will Rely On Delivering Margin Assumptions Despite Hype

Analysts have lifted their price targets on FormFactor, supporting an increase in our fair value estimate from $67.88 to $84.11. They attribute this change to updated assumptions around revenue growth, profit margins and future P/E expectations.
Narrative Update • Feb 16

FORM: Elevated Earnings Expectations Will Likely Expose Downside Risk

Analysts have lifted their consensus view on FormFactor, raising the implied fair value estimate from $23.00 to $64.00. This change is supported by updated assumptions around revenue growth, profit margins and future P/E that are broadly consistent with the series of higher price targets published across major firms in recent research.
Analysis Article • Feb 07

Results: FormFactor, Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates

Shareholders will be ecstatic, with their stake up 28% over the past week following FormFactor, Inc. 's ( NASDAQ:FORM...
Narrative Update • Feb 02

FORM: Future Returns Will Depend On Facility Ramp And Margin Execution

Narrative Update on FormFactor Our analyst price target for FormFactor has moved from US$56.88 to US$67.88. This reflects updated assumptions around revenue growth, profit margins and future P/E expectations that are broadly consistent with recent analyst research on the name.
Narrative Update • Jan 19

FORM: High Bandwidth Memory Upside Will Support Stronger Margins Into 2026

Analysts have lifted their price targets on FormFactor, supporting a fair value move from $78.00 to $88.00. They point to faster margin improvement and potential upside tied to high bandwidth memory and graphics processing unit related demand.
Analysis Article • Jan 13

There's Reason For Concern Over FormFactor, Inc.'s (NASDAQ:FORM) Massive 32% Price Jump

Despite an already strong run, FormFactor, Inc. ( NASDAQ:FORM ) shares have been powering on, with a gain of 32% in the...
Narrative Update • Jan 05

FORM: High Bandwidth Memory Upside Will Drive Stronger Margins Into 2026

Analysts have raised their price target on FormFactor significantly, highlighting the company's recent beat-and-raise quarter, faster-than-expected margin improvement, and growing exposure to high bandwidth memory and graphics processing units demand into 2026. Analyst Commentary Bullish analysts are increasingly confident that FormFactor's recent operating momentum can be sustained, pointing to a favorable setup into 2026 driven by secular demand for advanced semiconductor testing solutions.
Narrative Update • Dec 21

FORM: High Bandwidth Memory Demand Will Drive Stronger Margins Ahead

Analysts have significantly raised their price target on FormFactor from approximately $45 to $78. They cite stronger than expected margin improvement, high bandwidth memory demand, and long term upside from graphics processing units exposure as key drivers.
Narrative Update • Dec 07

FORM: Future Returns Will Depend On Memory Demand And Margin Expansion

Analysts have raised their price target on FormFactor to $62 from $31, citing a "beat and raise" Q3, faster than expected margin improvement, and growing exposure to high bandwidth memory and graphics processing units demand into 2026. Analyst Commentary Analyst commentary remains largely constructive, with the latest upgrade framed around a stronger earnings trajectory and improving end-market visibility into 2026.
Narrative Update • Nov 23

FORM: Future Returns Will Depend On Sustained Margin Expansion Momentum

FormFactor’s analyst price target has been raised from $54.29 to $56.88. Analysts cite stronger margin improvements and optimism in high bandwidth memory and graphics processing units as key factors behind the upgrade.
Narrative Update • Nov 08

FORM: Future Performance Will Depend On Margin Gains And End Market Recovery

FormFactor's analyst price target jumped significantly from $35.25 to $54.29. Analysts point to stronger margins and high bandwidth memory prospects as factors driving renewed optimism for future growth.
Analysis Article • Nov 03

Revenues Not Telling The Story For FormFactor, Inc. (NASDAQ:FORM) After Shares Rise 38%

FormFactor, Inc. ( NASDAQ:FORM ) shares have continued their recent momentum with a 38% gain in the last month alone...
Narrative Update • Oct 25

Artificial Intelligence Demand Will Outweigh Smartphone And PC Market Weakness

Narrative Update on FormFactor Analysts have raised FormFactor's price target modestly from $34.75 to $35.25, citing continued benefits from advanced packaging demand. However, headwinds in smartphone and PC markets are tempering overall growth outlooks.
Narrative Update • Oct 10

Generative AI And Texas Capacity Will Transform Semiconductor Testing

Analysts have modestly raised their price target for FormFactor from $33.13 to $34.75, citing ongoing demand in advanced packaging, while noting softness in broader smartphone and PC markets. Analyst Commentary The latest Street research highlights a mix of confidence in FormFactor's positioning within advanced packaging, along with concerns about market headwinds that could weigh on near-term performance.
Analysis Article • Sep 19

FormFactor, Inc. (NASDAQ:FORM) Stock Rockets 26% As Investors Are Less Pessimistic Than Expected

FormFactor, Inc. ( NASDAQ:FORM ) shareholders would be excited to see that the share price has had a great month...
Analysis Article • Jul 22

When Should You Buy FormFactor, Inc. (NASDAQ:FORM)?

FormFactor, Inc. ( NASDAQ:FORM ), is not the largest company out there, but it saw a significant share price rise of...
Analysis Article • Jun 21

Does FormFactor (NASDAQ:FORM) Have A Healthy Balance Sheet?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Seeking Alpha • Mar 03

FormFactor Q4: Murky Short-Term Outlook Continues To Weigh On The Company

Summary FormFactor, Inc.'s Q4 earnings showed mixed results with a 12.68% y/y sales growth but missed analyst estimates, leading to a hold rating due to short-term volatility. The company’s financial health is strong with $190.7m in cash and $169m in marketable securities, but Q1 '25 guidance fell short, causing a 20% share drop. PC and mobile handset markets are slower than expected, with potential growth in 2026 due to AI advancements and Windows 10 support ending. Uncertainty around tariffs and market recovery makes it risky to start a position now; monitoring developments and management commentary is crucial. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NasdaqGS:FORM - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,330N/AN/AN/A2
12/31/20271,09318713822710
12/31/202696414611929
3/28/20268406837137N/A
12/27/20257855412115N/A
9/27/2025759415105N/A
6/28/2025765444105N/A
3/29/20257665464108N/A
12/28/20247647079118N/A
9/28/20247421365091N/A
6/29/20247061214785N/A
3/30/20246641033685N/A
12/30/202366382965N/A
9/30/2023661-7476N/A
7/1/2023670-7480N/A
4/1/20237182231100N/A
12/31/20227485167132N/A
9/24/20227879096150N/A
6/25/202279610795160N/A
3/26/20227809483151N/A
12/25/20217708473139N/A
9/25/20217627780145N/A
6/26/202175080103153N/A
3/27/202171982105162N/A
12/26/202069479113169N/A
9/26/202067578113162N/A
6/27/202063863102148N/A
3/28/202061850113140N/A
12/28/201958939N/A121N/A
9/28/2019552106N/A106N/A
6/29/2019546105N/A94N/A
3/30/2019544107N/A80N/A
12/29/2018530104N/A69N/A
9/29/201852125N/A73N/A
6/30/201852929N/A74N/A
3/31/201853838N/A78N/A
12/30/201754841N/A86N/A
9/30/201754020N/A75N/A
7/1/2017520-7N/A63N/A
4/1/201745912N/A38N/A
12/31/2016384-7N/A17N/A
9/24/20163328N/A9N/A
6/25/201627420N/A11N/A
3/26/2016265-16N/A26N/A
12/26/2015282-2N/A36N/A
9/26/2015282-3N/A41N/A
6/27/2015290-1N/A40N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FORM's forecast earnings growth (49.6% per year) is above the savings rate (3.5%).

Earnings vs Market: FORM's earnings (49.6% per year) are forecast to grow faster than the US market (17% per year).

High Growth Earnings: FORM's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: FORM's revenue (14.9% per year) is forecast to grow faster than the US market (11.9% per year).

High Growth Revenue: FORM's revenue (14.9% 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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/01 04:06
End of Day Share Price 2026/06/01 00:00
Earnings2026/03/28
Annual Earnings2025/12/27

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

FormFactor, Inc. is covered by 18 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher MuseBarclays
Craig EllisB. Riley Securities, Inc.
Christopher MuseCantor Fitzgerald & Co.