Stock Analysis
FormFactor Inc.FORM
P/E 71.05×· 5Y range 15.80–207.19×· 71th percentile of history
Sector: Technology · Industry: Semiconductors & Related Devices
AnalystsBuy16 analystsP/E 71.0× sits at the 71st percentile of its 5.059548254620124-year history.
Cash covers 1156% of debt · Q2 2026.
PMP Verdict
Mixed fundamentals, fairly valued
Strengths
- Financial Health100
- Quality77
Risks
- Growth31
Mixed picture — no clear quality or value edge.
Market context
-7.3% today· Z 2.3σ
Bull Case
- ✓Altman Z 22.5 — safe-zone balance sheet
- ✓Interest coverage 109.5× — debt well covered
What's happening with FORM
Profile
Strong financial health and earnings quality; valuation, growth and moat lag behind.
How is each axis scored?
- Valuation22/100 · Weak
- P/E vs own history (71th pct)5/25
- FCF yield (1.7%)5/25
- P/S (8.9x)12/25
- EV/EBIT (66.7x)0/25
- Growth31/100 · Weak
- Revenue CAGR (0.5%)6/25
- Net income CAGR (-10.3%)0/25
- EPS CAGR 5Y (-10.1%)0/25
- Fwd implied growth (96.7%)25/25
- Profitability56/100 · Moderate
- ROIC (11.5%)12/25
- ROE (10.4%)12/25
- Net margin (12.8%)20/25
- Operating margin (12.9%)12/25
- Financial Health100/100 · Strong
- Altman Z (22.53)25/25
- Current ratio (4.08)25/25
- Interest coverage (109.5x)25/25
- Net cash / debt (Net cash)25/25
- Quality77/100 · Strong
- Piotroski F (5/9)15/25
- Beneish M (-2.66)25/25
- FCF conversion (118%)25/25
- Margin stability (σ 8.6%)12/25
- Moat43/100 · Weak
- ROIC >12% years (2/10 yrs)0/25
- Median gross margin (39.6%)13/25
- FCF-positive years (10/10 yrs)25/25
- Worst-year net margin (worst -1.7%)5/25
About FormFactor Inc.
FormFactor Inc is a provider of electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. Show more
. The company operates in two reportable segments namely Probe Cards Segment and the Systems Segment. Sales of probe cards and analytical probes are included in the Probe Cards Segment, while sales of probe stations and thermal sub-systems are included in the Systems Segment. Probe cards generate the maximum revenue from its operations. It offers multiple product lines which include analytical probes, probe stations, thermal sub-systems, and related services.
Headquarters: LIVERMORE, CA · Employees: 2,153 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
22EP/E (TTM)69.7xD
Grade D: ExpensivePrice / TTM EPS (own statements) — vs own 5Y history: 15.8x–207.2x · 71st pct
P/FCF63.7xD
Grade D: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative
FCF Yield1.7%C
Grade C: LowTTM (OCF − CapEx) / Market Cap — vs own 5Y history: 0.1%–6.7% · 61st pct
P/S (TTM)8.92xC
Grade C: ExpensivePrice / TTM Revenue (own statements) — vs own 5Y history: 1.8x–14.8x · 87th pct
EV/EBIT66.7xD
Grade D: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 11.6x–197.9x · 76th pct
EV/Sales9.5xC
Grade C: ExpensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E35.4xD
Grade D: ExpensivePrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio7.24xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio0.49A
Grade A: CheapFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield—
TTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio—
Dividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
Profitability
56CROIC11.5%C
Grade C: AverageNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE10.4%C
Grade C: AverageReturn on Equity. Neg. equity = heavy buybacks
ROA9.2%C
Grade C: AverageReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin12.8%A
Grade A: HighNet Income / Revenue
Operating Margin12.9%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin43.1%C
Grade C: AverageGross Profit / Revenue
FCF Margin15.1%A
Grade A: HighFCF / Revenue
True FCF Margin11.1%C
Grade C: AverageTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost
Growth
31DRevenue CAGR0.5%D
Grade D: LowCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR-10.3%D
Grade D: LowCompound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)-10.1%D
Grade D: LowCompound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth96.7%A
Grade A: HighAnalyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)-1.9%B
Grade B: FlatShare count change over 5Y
SBC / Net Income31.3%D
Grade D: HighStock-based comp/Net income. >30% = dilution risk
SBC / Revenue4.0%C
Grade C: MedTTM stock-based comp / TTM Revenue
Financial Health
100A+Altman Z-Score22.53A
Grade A: SafeBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio4.08xA
Grade A: HighCurrent Assets/Liabilities
Quick Ratio3.09xA
Grade A: High(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage109.5xA
Grade A: StrongEBIT/Interest. >10 Strong
Debt RepaymentNet CashA
Grade A: FastYears to repay net debt via FCF
Net Debt/EBITNet CashA
Grade A: LowLeverage. <2x Low, >4x High
Debt/Equity0.03xA
Grade A: LowDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt11.56xA
Grade A: CoveredCash covers how much of total debt. >1 = could repay all debt from cash
Quality
77B+Piotroski F-Score5/9C
Grade C: AverageFinancial strength 0–9. >7 Strong
Beneish M-Score-2.66A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion117.9%A
Grade A: StrongFCF / Net Income
Margin Stability8.6%C
Grade C: AverageEBIT margin std deviation. Lower = stable
Capex / Revenue4.8%A
Grade A: Asset-lightTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.72xC
Grade C: AverageRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -1200 | |
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -7703 | |
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -2195 | |
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -1000 | |
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -7773 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -8737 | |
STEVEN-WAISS KELLEY Filed | STEVEN-WAISS KELLEY | SellOpen market sale | -2100 | |
SLESSOR MIKE Filed | SLESSOR MIKE | SellOpen market sale | -686 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
43D+ROIC >12% Years2/10 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)39.6%C
Grade C: ModerateMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years10/10 yrsA
Grade A: DurableShare of completed fiscal years with positive free cash flow
Net Margin Floor-1.7%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)$1.48
Own TTM net income / shares — same earnings basis as P/E
Cash / Share$4.42
Cash & short-term investments per share (Finnhub)
Book Value / Share$14.23
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$29.91M
Total debt obligations (short + long term)
Cash & Equiv.$345.64M
Cash and short-term investments
Net Debt$-315.73MA
Grade A: Net CashTotal Debt minus Cash. Negative = Net Cash position
Total Equity$1.11B
Shareholders' equity (book value)
Asset / Liability5.81xA
Grade A: SolidTotal Assets / Total Liabilities
Market
Market Cap$8.05B
Current Market Capitalization
Beta1.19B
Grade B: MarketPrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 17, 2026
Key Insights: FormFactor Inc. (FORM)
FORM is down 7.35% at the last close. Piotroski F-Score of 5/9 indicates mixed fundamentals for FormFactor Inc.. Altman Z-Score of 22.53 sits comfortably in the safe zone (≥ 2.99), indicating low bankruptcy risk. Beneish M-Score of -2.66 suggests a low likelihood of earnings manipulation.
- FormFactor Inc. converts about 15% of revenue into free cash flow — strong cash generation.
- Company is effectively debt-free after netting cash.
- FormFactor Inc. posted a net loss in 1 of 10 available completed fiscal years (2016–2025).
- At a valuation score of 22/100, FORM trades at a premium to its historical multiples (P/E 69.7).
See how FORM ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all FORM moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 16 | After-hours | 103.00 | -9.12% | -2.33 |
| Oct 14 | After-hours | 116.00 | -9.44% | -2.81 |
| Oct 12 | Regular | 130.03 | -6.90% | -2.55 |
| Sep 21 | Pre-market | 123.10 | +3.99% | 2.66 |
Frequently Asked Questions about FORM
What is the current FormFactor Inc. (FORM) stock price?
FORM is trading at $105.01 at the last market close, down 7.35% on the session. PreMarketPrice tracks FORM pre-market, intraday and after-hours prices.
Is FORM stock a buy right now?
PreMarketPrice's quantitative model rates FormFactor Inc.'s financial health at 100/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is FORM stock overvalued?
FormFactor Inc. trades at a trailing P/E of 69.7 and our valuation score rates it 22/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does FormFactor Inc. report earnings?
No confirmed earnings date is currently scheduled for FORM. The Earnings section lists recent reports and updates as dates are announced.
What sector does FormFactor Inc. operate in?
FormFactor Inc. operates in the Technology sector, within the Semiconductors & Related Devices industry. The Related Stocks section lists sector peers for comparison.
What does FormFactor Inc. do?
FormFactor Inc is a provider of electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test.
About FormFactor Inc. (FORM) Stock
FormFactor Inc. (FORM) is a US-listed stock operating in the Technology sector, specifically the Semiconductors & Related Devices industry. As of the latest update, FormFactor Inc. is trading at $105.01, down 7.35% on the day with a market capitalization of $8.1 billion. The financial health score for FORM is 100/100, which indicates excellent financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for FORM stock.
FORM Stock Analysis & Key Metrics
On PreMarketPrice, you can track FormFactor Inc. (FORM) across multiple dimensions:
- Pre-market price & movement: Real-time FORM stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for FORM with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for FormFactor Inc. across multiple reporting periods.
- Financial health score: A composite score of 100/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for FORM.
- Sector peers: Compare FORM against 6 other technology stocks on key financial metrics.
Is FORM a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate FormFactor Inc. (FORM) as an investment. The financial health score of 100/100 suggests excellent financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.FormFactor Inc. (FORM) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.