Sunday 11 October 2026
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FormFactor, Inc.
FORM Technology Semiconductor Equipment & Materials
FormFactor, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $785.0 million, up 2.80% from fiscal 2024. In the quarter to June 2026, revenue grew 31.9%, EPS grew 500.0%, free cash flow grew 211.5% and total debt fell 8.78%, each against the same quarter a year earlier.
139.67
2.54
+1.85%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
79.69 | 48.89 | 37.71 | 33.72 | 42.73 | 41.77 | 49.94 | 10.06 | 29.38 | 0.00 |
Piotroski F-Score |
4 | 8 | 6 | 5 | 7 | 7 | 5 | 5 | 8 | 2 |
P/S ratio |
5.50 | 4.46 | 4.71 | 2.27 | 4.62 | 4.76 | 3.30 | 1.95 | 2.17 | 1.92 |
Altman Z-Score |
15.12 | 11.79 | 11.17 | 6.44 | 11.82 | 10.21 | 6.77 | 4.93 | 4.25 | 1.73 |
P/FCF ratio |
367.50 | 43.02 | 364.07 | 25.56 | 48.81 | 29.09 | 19.44 | 21.19 | 17.34 | 123.78 |
Altman Z″-Score (non-manufacturers) |
8.85 | 8.45 | 8.10 | 6.62 | 6.98 | 5.85 | 5.04 | 5.30 | 3.26 | 0.98 |
Beneish M-Score |
(2.40) | (2.63) | (2.20) | (3.02) | (2.63) | (2.84) | (2.92) | (2.02) | (2.73) | (1.67) |
P/Operating CF |
93.84 | 94.76 | 337.50 | 82.00 | 91.36 | 73.23 | 51.70 | 45.89 | 44.95 | 49.35 |
P/B ratio |
4.17 | 3.59 | 3.44 | 2.10 | 4.36 | 4.43 | 3.04 | 1.78 | 2.59 | 1.84 |
Price to Tangible BV |
5.37 | 4.61 | 4.49 | 2.98 | 6.27 | 6.99 | 5.07 | 3.20 | 6.94 | 8.53 |
EV/Sales |
5.16 | 4.00 | 4.23 | 1.97 | 4.29 | 4.44 | 3.03 | 1.79 | 2.10 | 2.00 |
EV/EBITDA |
43.70 | 32.32 | 23.91 | 15.86 | 23.10 | 23.22 | 18.91 | 11.85 | 12.61 | 0.00 |
EV/Operating CF |
35.10 | 25.97 | 43.45 | 11.20 | 23.70 | 18.18 | 14.73 | 13.83 | 13.37 | 43.98 |
EV/FCF |
345.01 | 38.59 | 327.32 | 22.19 | 45.32 | 27.13 | 17.80 | 19.45 | 16.84 | 128.67 |
Quick Ratio |
3.24 | 3.56 | 3.30 | 2.19 | 2.65 | 2.36 | 2.35 | 2.39 | 2.43 | 2.18 |
Current Ratio |
4.50 | 4.61 | 4.38 | 3.17 | 3.52 | 3.15 | 3.07 | 3.30 | 3.32 | 3.08 |
Net Debt/EBITDA |
(2.85) | (3.71) | (2.68) | (2.40) | (1.78) | (1.68) | (1.74) | (1.06) | (0.38) | (35.01) |
Debt/Assets |
1.00% | 1.16% | 1.30% | 1.53% | 2.39% | 3.58% | 6.96% | 8.90% | 16.34% | 22.32% |
Debt/Equity |
0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.05 | 0.09 | 0.11 | 0.23 | 0.34 |
Asset Turnover |
0.66 | 0.68 | 0.63 | 0.74 | 0.78 | 0.77 | 0.75 | 0.77 | 0.87 | 0.80 |
Operating CF/Net income |
2.12 | 1.69 | 0.78 | 2.60 | 1.66 | 2.16 | 3.08 | 0.66 | 2.11 | (2.66) |
Capex/Depreciation |
(2.91) | (1.30) | (1.62) | (1.71) | (1.48) | (1.15) | (0.47) | (0.45) | (0.39) | (0.24) |
Interest Coverage |
109.54 | 154.98 | 196.57 | 94.84 | 162.85 | 96.98 | 25.93 | 10.90 | 10.31 | (20.04) |
| 5.48% | 7.50% | 9.60% | 6.25% | 10.76% | 11.34% | 6.44% | 20.03% | 9.52% | (1.88%) | |
| 4.59% | 6.18% | 7.79% | 5.00% | 8.46% | 8.71% | 5.02% | 15.13% | 6.47% | (1.36%) | |
ROIC |
4.62% | 6.78% | 8.71% | 5.87% | 10.91% | 10.04% | 6.51% | 4.56% | 6.83% | (6.96%) |
Return on Tangible Assets |
7.85% | 10.18% | 12.73% | 9.86% | 16.08% | 17.98% | 11.53% | 35.95% | 15.71% | (3.05%) |
Average Days of Receivables |
58.32 | 49.85 | 56.67 | 43.01 | 54.79 | 56.62 | 60.60 | 65.69 | 55.74 | 68.09 |
Research and Development Expense of Revenue |
14.74% | 15.97% | 17.46% | 14.60% | 13.11% | 12.84% | 13.83% | 14.16% | 13.46% | 14.97% |
Selling, General and Administrative Expense of Revenue |
16.95% | 18.57% | 20.06% | 17.63% | 16.08% | 16.59% | 18.04% | 18.74% | 17.41% | 19.13% |
Intangible Assets out of Total Assets |
0.19 | 0.18 | 0.19 | 0.24 | 0.24 | 0.28 | 0.31 | 0.35 | 0.44 | 0.51 |
Share Based Compensation of Revenue |
4.91% | 5.21% | 5.82% | 4.19% | 3.82% | 3.44% | 3.93% | 3.37% | 2.98% | 3.04% |
Graham Net Nets |
0.09 | 0.12 | 0.12 | 0.16 | 0.09 | 0.08 | 0.11 | 0.18 | 0.10 | 0.05 |
Graham Number |
14.52 | 15.75 | 16.82 | 12.34 | 15.89 | 15.00 | 10.00 | 15.77 | 8.94 | 0.00 |
Earnings Yield |
1.25% | 2.05% | 2.65% | 2.97% | 2.34% | 2.39% | 2.00% | 9.94% | 3.40% | (0.35%) |
Free Cash Flow Yield |
0.27% | 2.32% | 0.27% | 3.91% | 2.05% | 3.44% | 5.14% | 4.72% | 5.77% | 0.81% |
Revenue per Share |
10.15 | 9.87 | 8.57 | 9.64 | 9.89 | 9.05 | 7.86 | 7.21 | 7.59 | 5.91 |
Operating CF per Share |
1.49 | 1.52 | 0.84 | 1.70 | 1.79 | 2.21 | 1.61 | 0.93 | 1.19 | 0.27 |
Capex per Share |
(1.34) | (0.50) | (0.72) | (0.84) | (0.85) | (0.73) | (0.28) | (0.27) | (0.25) | (0.18) |
Free Cash Flow per Share |
0.15 | 1.02 | 0.11 | 0.86 | 0.94 | 1.48 | 1.34 | 0.66 | 0.95 | 0.09 |
Cash per Share |
3.57 | 4.70 | 4.26 | 3.09 | 3.58 | 3.35 | 2.97 | 2.04 | 1.94 | 1.68 |
Shareholders Equity per Share |
13.39 | 12.25 | 11.75 | 10.42 | 10.49 | 9.70 | 8.55 | 7.90 | 6.34 | 6.18 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
13.39 | 12.25 | 11.75 | 10.42 | 10.49 | 9.70 | 8.55 | 7.90 | 6.34 | 6.18 |
Free Cash Flow |
11.74 | 79.10 | 8.58 | 66.53 | 72.87 | 113.39 | 100.20 | 48.85 | 68.57 | 5.96 |
Working Capital |
433.19 | 473.78 | 442.69 | 324.89 | 375.29 | 332.50 | 282.48 | 235.30 | 213.69 | 172.00 |
Capital Expenditures |
(103.66) | (38.44) | (56.03) | (65.25) | (66.50) | (55.86) | (20.85) | (19.85) | (17.76) | (11.47) |
Net Current Asset Value |
368.10 | 406.68 | 375.79 | 274.61 | 319.30 | 267.94 | 220.16 | 189.76 | 117.92 | 36.78 |
EV/EBIT |
70.97 | 47.12 | 33.92 | 26.89 | 33.69 | 36.72 | 35.91 | 26.32 | 24.93 | 0.00 |
Capex to Sales |
0.13 | 0.05 | 0.08 | 0.09 | 0.09 | 0.08 | 0.04 | 0.04 | 0.03 | 0.03 |
Price to Operating Income |
75.60 | 52.53 | 37.72 | 30.97 | 36.28 | 39.37 | 39.22 | 28.67 | 25.68 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.14 | 0.14 | 0.17 | 0.20 | 0.31 | 0.47 | 0.76 | 0.82 | 0.97 | 1.10 |
Cash ROIC |
0.89% | 5.97% | 0.68% | 6.26% | 6.52% | 10.95% | 10.86% | 6.15% | 9.73% | 0.92% |
Accounts Receivable Turnover |
6.83 | 7.37 | 6.94 | 7.34 | 6.90 | 6.75 | 6.10 | 5.92 | 7.06 | 7.09 |
Accounts Payable Turnover |
8.68 | 7.22 | 6.08 | 7.11 | 7.45 | 7.88 | 8.70 | 8.51 | 9.63 | 10.78 |
Inventory Turnover |
4.48 | 4.27 | 3.45 | 3.85 | 4.24 | 4.45 | 4.37 | 4.39 | 5.21 | 6.46 |
Average Days of Payables |
36.36 | 49.89 | 57.62 | 55.98 | 47.26 | 55.82 | 42.43 | 45.73 | 38.43 | 44.23 |
Days of Inventory on Hand |
85.00 | 81.44 | 100.77 | 99.47 | 91.10 | 89.28 | 86.34 | 88.82 | 74.40 | 77.63 |
Average Receivables |
114.86 | 103.63 | 95.55 | 101.84 | 111.57 | 102.74 | 96.60 | 89.55 | 77.69 | 54.17 |
Average Payables |
54.86 | 63.07 | 66.58 | 63.59 | 59.95 | 51.48 | 40.46 | 37.53 | 34.56 | 26.07 |
Average Inventory |
106.28 | 106.68 | 117.42 | 117.35 | 105.39 | 91.24 | 80.48 | 72.78 | 63.83 | 43.51 |
Average Assets |
1,185.29 | 1,126.50 | 1,057.51 | 1,014.37 | 991.87 | 901.55 | 784.05 | 687.40 | 632.78 | 480.85 |
Average Common Equity |
991.59 | 928.29 | 858.54 | 812.03 | 779.93 | 692.54 | 610.58 | 519.40 | 429.85 | 347.87 |
Columns are period end dates