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Technology - Semiconductors - NASDAQ - US
$ 24.37
0.827 %
$ 1.88 B
Market Cap
27.38
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FORM stock under the worst case scenario is HIDDEN Compared to the current market price of 24.4 USD, FormFactor, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FORM stock under the base case scenario is HIDDEN Compared to the current market price of 24.4 USD, FormFactor, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one FORM stock under the best case scenario is HIDDEN Compared to the current market price of 24.4 USD, FormFactor, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart FORM

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$50.0$50.0$45.0$45.0$40.0$40.0$35.0$35.0$30.0$30.0$25.0$25.0$20.0$20.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
764 M REVENUE
15.16%
64.8 M OPERATING INCOME
-21.72%
69.6 M NET INCOME
-15.50%
118 M OPERATING CASH FLOW
81.94%
-33.5 M INVESTING CASH FLOW
-115.25%
-64.6 M FINANCING CASH FLOW
-184.50%
189 M REVENUE
-8.87%
7.85 M OPERATING INCOME
-56.03%
9.7 M NET INCOME
-48.20%
35.9 M OPERATING CASH FLOW
34.35%
-7.33 M INVESTING CASH FLOW
54.74%
-18.4 M FINANCING CASH FLOW
31.58%
Balance Sheet FormFactor, Inc.
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Current Assets 605 M
Cash & Short-Term Investments 360 M
Receivables 104 M
Other Current Assets 141 M
Non-Current Assets 541 M
Long-Term Investments 0
PP&E 233 M
Other Non-Current Assets 308 M
31.41 %9.10 %12.28 %20.31 %26.90 %Total Assets$1.1b
Current Liabilities 131 M
Accounts Payable 62.3 M
Short-Term Debt 9.47 M
Other Current Liabilities 59.6 M
Non-Current Liabilities 67.1 M
Long-Term Debt 17.6 M
Other Non-Current Liabilities 49.6 M
31.39 %4.77 %30.03 %8.84 %24.97 %Total Liabilities$198.4m
EFFICIENCY
Earnings Waterfall FormFactor, Inc.
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Revenue 764 M
Cost Of Revenue 456 M
Gross Profit 308 M
Operating Expenses 243 M
Operating Income 64.8 M
Other Expenses -4.83 M
Net Income 69.6 M
800m800m700m700m600m600m500m500m400m400m300m300m200m200m100m100m00764m(456m)308m(243m)65m5m70mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
40.33% GROSS MARGIN
40.33%
8.48% OPERATING MARGIN
8.48%
9.12% NET MARGIN
9.12%
7.35% ROE
7.35%
6.07% ROA
6.07%
5.54% ROIC
5.54%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis FormFactor, Inc.
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120m120m100m100m80m80m60m60m40m40m20m20m0020162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 69.6 M
Depreciation & Amortization 30.3 M
Capital Expenditures -38.4 M
Stock-Based Compensation 39.8 M
Change in Working Capital -8.65 M
Others -574 K
Free Cash Flow 79.1 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets FormFactor, Inc.
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Wall Street analysts predict an average 1-year price target for FORM of $59 , with forecasts ranging from a low of $52 to a high of $65 .
FORM Lowest Price Target Wall Street Target
52 USD 113.38%
FORM Average Price Target Wall Street Target
59 USD 142.10%
FORM Highest Price Target Wall Street Target
65 USD 166.72%
Price
Max Price Target
Min Price Target
Average Price Target
6565606055555050454540403535303025252020May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
5. COMPETITION
slide 2 of 9
6. Ownership
Insider Ownership FormFactor, Inc.
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Sold
0-3 MONTHS
521 K USD 2
3-6 MONTHS
617 K USD 2
6-9 MONTHS
854 K USD 2
9-12 MONTHS
8.36 M USD 8
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
FORM Expands Taiwan Service Center Capacity: Hold or Fold the Stock? FormFactor FORM is doubling capacity at its Taiwan Capacity Center, which will enable the company to better serve customers in Taiwan and across Asia. The service center plays a key role in supporting chip manufacturers in developing advanced packaging technologies driven by AI, high-performance computing, and mobile and automotive applications. zacks.com - 2 weeks ago
Bear of the Day: FormFactor (FORM) FormFactor ( FORM ) is a $2.5 billion OEM of automated wafer probe cards and other testing devices used in the back-end portion of the semiconductor manufacturing process.  FORM serves the requirements of the companies that design or make semiconductor and related products in the Foundry & Logic, DRAM, Flash, Display and Sensor markets. zacks.com - 1 month ago
FormFactor Q4: Murky Short-Term Outlook Continues To Weigh On The Company 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. seekingalpha.com - 1 month ago
FormFactor Announces the Closing of FICT Transaction LIVERMORE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce the closing of its acquisition, together with North Asia private equity firm MBK Partners (“MBKP”), of FICT Limited (“FICT”). As stated on February 5th, 2025, this transaction secures FormFactor's access to FICT's essential technologies for advanced probe cards, strengthens the long-term partnership between the companies, and positions FICT to continue developing leading-edge technologies for its customers in the semiconductor and high-performance computing markets. globenewswire.com - 1 month ago
FORM's Q4 Earnings Miss Estimates, Stock Declines on Cautious Outlook FormFactor's Q4 results thrive on record DRAM probe-card sales, and AI and HBM growth. Yet, weak demand for PCs and mobile handsets remains challenging. zacks.com - 2 months ago
Ford, Skyworks Solutions, FormFactor And Other Big Stocks Moving Lower In Thursday's Pre-Market Session U.S. stock futures were higher this morning, with the Dow Jones futures gaining around 100 points on Thursday. benzinga.com - 2 months ago
FormFactor, Inc. (FORM) Q4 2024 Earnings Call Transcript FormFactor, Inc. (NASDAQ:FORM ) Q4 2024 Earnings Conference Call February 5, 2025 4:25 PM ET Company Participants Stan Finkelstein - VP of Investor Relations Mike Slessor - Chief Executive Officer Shai Shahar - Chief Financial Officer Conference Call Participants Charles Shi - Needham & Company Craig Ellis - B. Riley Securities Brian Chin - Stifel David Duley - Steelhead Securities Krish Sankar - TD Cowen Tom Diffely - D.A. seekingalpha.com - 2 months ago
FormFactor (FORM) Q4 Earnings and Revenues Miss Estimates FormFactor (FORM) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.29 per share. This compares to earnings of $0.20 per share a year ago. zacks.com - 2 months ago
FormFactor, Inc. Reports 2024 Fourth Quarter Results FY24 revenue of $764 million, up 15.2% from $663 million in FY23, driven by growth in HBM revenue; Announces acquisition of mino rity interest in FICT Limited, a key supplier of industry-leading, high-performance advanced probe card components globenewswire.com - 2 months ago
Why You Should Buy These 4 Semiconductor Stocks Ahead of Earnings The massive growth in the global semiconductor industry, fueled by automotive, AI, IoT, memory and networking markets, is set to benefit PI, SYNA, LITE and FORM stocks. zacks.com - 2 months ago
FormFactor to Announce Fourth Quarter 2024 Financial Results on February 5th LIVERMORE, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) will report financial results for its 2024 fiscal fourth quarter on Wednesday, February 5th, 2025, at 1:25 p.m. Pacific Time. The public is invited to listen to a live webcast of FormFactor's conference call on the Investors section of the company's web site at www.formfactor.com. globenewswire.com - 3 months ago
FormFactor Dips 26% in 6 Months: Buy, Sell or Hold the Stock? FORM shows growth potential with innovation and a diverse portfolio but faces challenges like rising expenses and weak demand. zacks.com - 3 months ago
8. Profile Summary

FormFactor, Inc. FORM

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COUNTRY US
INDUSTRY Semiconductors
MARKET CAP $ 1.88 B
Dividend Yield 0.00%
Description 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.
Contact 7005 Southfront Road, Livermore, CA, 94551 https://www.formfactor.com
IPO Date June 12, 2003
Employees 2238
Officers Mr. Steven Nott Chief Information Officer Ms. Missy Figueroa Senior Vice President of Global Operations Ms. Aliza Scott Chief Human Resources Officer Mr. Sudhakar Raman Senior Vice President & GM of Probes Business Unit Dr. Michael D. Slessor Ph.D. Chief Executive Officer, President & Director Mr. Stan Finkelstein Head of Investor Relations Mr. Aasutosh Dave Chief Commercial Officer Mr. Jarek Kister Chief Technology Officer and Senior Vice President of Technology R&D