Saturday 10 October 2026 Export all FORM data to Excel Powerpack

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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Market cap: $10.7B
P/E: 94.4×
Fwd P/E: 64.7×
Dividend yield: —
F-score: 4/9
Altman Z: 15.12
Beneish M: −2.40
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 22.05

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	2	2	2	9	2	1	6	3	1	1	2	—

Insider Ownership 0.67%

Capital & Financial Ratios $m

Market Cap 10,710.00

Revenue 902.23

Net Income 115.47

Free Cash Flow 136.59

Net Debt (334.76)

Current Ratio 4.08

Debt/Equity 0.01

P/E ratio 94.37

Fwd P/E 64.70

P/S ratio 12.08

P/B ratio 9.81

Past 5Y EPS Growth (6.97%)

This Y EPS Growth 134.57%

Next Y EPS Growth 24.81%

Next Y revenue growth 31.59%

Next 5Y EPS Growth 57.04%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 90.65%

10-year low 10-year high

P/S against its own 10 years 98.56%

10-year low 10-year high

P/B against its own 10 years 98.67%

10-year low 10-year high

EV/Sales against its own 10 years 98.49%

10-year low 10-year high

EV/FCF against its own 10 years 75.19%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	329	364	276	346
Receivables	103	104	125	156
Inventory	112	102	111	121
Other	—	—	—	—
	574	605	557	670

	2023	2024	2025	Q'26
Payables	64	62	47	77
ST’ Debt	1	1	1	1
Other	—	—	—	—
	131	131	124	164

Compound Annual Growth %

	10y	5y	3y
Sales	10.77%	2.51%	1.62%
Cash Flow	12.32%	(7.37%)	(4.33%)
Earnings	0.00%	(7.09%)	2.33%
Book Value	13.39%	6.83%	8.60%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	226	258	—	—	—
’25	171	196	203	215	785
’24	169	197	208	189	764
’23	167	156	172	168	663
’22	197	204	181	166	748
’21	187	188	190	205	770
’20	161	158	178	197	694

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	45	62	—	—	—
’25	24	19	27	46	115
’24	33	22	27	36	118
’23	12	22	21	9	65
’22	44	43	24	21	132
’21	32	34	34	39	139
’20	39	43	42	45	169

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	30	53	—	—	—
’25	5	(47)	19	35	12
’24	20	13	18	28	79
’23	(7)	2	15	(1)	9
’22	29	28	15	(5)	67
’21	19	16	14	24	73
’20	27	55	0	31	113

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.26	0.71	—	—	—
’25	0.08	0.12	0.20	0.29	0.69
’24	0.28	0.25	0.24	0.12	0.89
’23	0.02	0.01	0.06	0.97	1.05
’22	0.38	0.38	0.06	(0.18)	0.65
’21	0.25	0.23	0.26	0.33	1.06
’20	0.20	0.26	0.29	0.24	0.99

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	6.15	10.45	11.10	12.87	16.35	32.69	18.15	21.71	37.21	22.58	Analyst estimates 2026–2028 Powerpack
	High	12.05	18.65	17.15	26.30	45.92	52.39	47.48	42.38	63.63	61.10
People
People	Employees	1,571	1,685	1,676	1,836	2,166	2,293	2,105	2,115	2,238	2,153
	Revenue/emp, $m	0.24	0.33	0.32	0.32	0.32	0.34	0.36	0.31	0.34	0.36
Income, $m
Income, $m	Revenue	384	548	530	589	694	770	748	663	764	785
	Gross margin, %	26.75	39.31	39.71	40.29	41.51	41.94	39.58	39.00	40.33	39.34
	EBT	(50)	42	34	51	85	99	58	89	79	69
	EBT margin, %	(13.08)	7.70	6.41	8.66	12.28	12.80	7.74	13.46	10.40	8.84
	Net income	(7)	41	104	39	79	84	51	82	70	54
	Depreciation	47	45	44	45	49	45	38	35	30	36
Per share, $
Per share, $	Revenue	5.91	7.59	7.21	7.86	9.05	9.89	9.64	8.57	9.87	10.15
	Earnings	(0.10)	0.57	1.42	0.52	1.02	1.08	0.65	1.06	0.90	0.70
	Cash flow	0.27	1.19	0.93	1.61	2.21	1.79	1.70	0.84	1.52	1.49
	Capex	(0.18)	(0.25)	(0.27)	(0.28)	(0.73)	(0.85)	(0.84)	(0.72)	(0.50)	(1.34)
	Free cash flow	0.09	0.95	0.66	1.34	1.48	0.94	0.86	0.11	1.02	0.15
	Book value	6.18	6.34	7.90	8.55	9.70	10.49	10.42	11.75	12.25	13.39
	Shares, m	65	72	73	75	77	78	78	77	77	77
Valuation, ×
Valuation, ×	P/E	0.00	29.38	10.06	49.94	41.77	42.73	33.72	37.71	48.89	79.69
	P/S	1.92	2.17	1.95	3.30	4.76	4.62	2.27	4.71	4.46	5.50
	P/B	1.84	2.59	1.78	3.04	4.43	4.36	2.10	3.44	3.59	4.17
	EV/Sales	2.00	2.10	1.79	3.03	4.44	4.29	1.97	4.23	4.00	5.16
	EV/FCF	128.67	16.84	19.45	17.80	27.13	45.32	22.19	327.32	38.59	345.01
Cash, $m
Cash, $m	Operating cash flow	17	86	69	121	169	139	132	65	118	115
	Capex	(11)	(18)	(20)	(21)	(56)	(66)	(65)	(56)	(38)	(104)
	Free cash flow	6	69	49	100	113	73	67	9	79	12
Balance, $m
Balance, $m	Working capital	172	214	235	282	333	375	325	443	474	433
	Total debt	138	106	65	58	34	24	15	14	13	12
	Net debt	29	(35)	(85)	(164)	(222)	(254)	(224)	(315)	(350)	(264)
	Shareholders’ equity	401	459	580	641	744	816	808	909	948	1,035
Returns, %
Returns, %	ROA	(1.36)	6.47	15.13	5.02	8.71	8.46	5.00	7.79	6.18	4.59
	ROIC	(6.96)	6.83	4.56	6.51	10.04	10.91	5.87	8.71	6.78	4.62
	ROE	(1.88)	9.52	20.03	6.44	11.34	10.76	6.25	9.60	7.50	5.48

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ENTG Entegris, Inc.	$24.8B	82.9×	48.6×	+11.46% (above 0%: growing)	+74.29% (above 0%: growing)	+148.72% (above 0%: growing)	47.55%	18.64%	Compare
ONTO Onto Innovation Inc.	$14.4B	109×	48.8×	+35.30% (above 0%: growing)	+76.81% (above 0%: growing)	+30.97% (above 0%: growing)	53.41%	18.52%	Compare
AMKR Amkor Technology, Inc.	$12.7B	21.9×	31.1×	+25.58% (above 0%: growing)	+218.18% (above 0%: growing)	−276.02% (below 0%: shrinking)	16.79%	10.53%	Compare
NVMI Nova Ltd.	$11.3B	40.7×	50.8×	+15.90% (above 0%: growing)	+1.72% (above 0%: growing)	−10.48% (below 0%: shrinking)	56.54%	29.88%	Compare
FORM FormFactor, Inc.	$10.7B	94.4×	64.7×	+31.89% (above 0%: growing)	+500.00% (above 0%: growing)	+211.52% (above 0%: growing)	50.70%	22.38%
CAMT Camtek Ltd.	$7.0B	201×	52.5×	+12.31% (above 0%: growing)	−33.33% (below 0%: shrinking)	+952.40% (above 0%: growing)	50.06%	20.43%	Compare
ACMR ACM Research, Inc.	$4.9B	31.7×	36.3×	+36.01% (above 0%: growing)	+178.72% (above 0%: growing)	−19.43% (below 0%: shrinking)	45.96%	16.98%	Compare
KLIC Kulicke and Soffa Industries, Inc.	$4.8B	41.6×	34.7×	+122.63% (above 0%: growing)	n/m	+856.72% (above 0%: growing)	47.80%	20.66%	Compare
AXTI AXT Inc	$4.7B	2,285×	379×	+164.77% (above 0%: growing)	n/m	+173.29% (above 0%: growing)	44.90%	21.90%	Compare
Median of peers	$9.2B	62.3×	48.7×	+30.44%	+75.55%	+89.85%	47.68%	19.54%

All 29 Semiconductor Equipment & Materials stocks →

FormFactor, Inc. (FORM) key facts

Strength: FormFactor, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $785.0 million, up 2.80% from fiscal 2024.
FormFactor, Inc. (FORM) is a Semiconductor Equipment & Materials company in the Technology sector, listed on Nasdaq.
As of October 9, 2026, FORM traded at $139.67, a market capitalization of $10.7 billion.
Return on equity was 5.48% and debt-to-equity 0.01.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 15.12 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.