Demonstrações financeiras detalhadas de FormFactor, Inc. (FORM): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
FormFactor, Inc. registou receitas de $785.0M no último exercício, com um CAGR de 5 anos de 2.5%. O lucro líquido atingiu $54.4M, com CAGR de 5 anos de -7.1%.
Margens dos últimos 12 meses: margem bruta 45.6%, margem operacional 16.9%, margem líquida 12.8%. O fluxo de caixa livre cresceu a CAGR de -36.5% em 5 anos.
Ao preço atual de $104.82, FORM negocia a um P/L de 62.65 e um ROE de 5.25%. A capitalização de mercado é de $8.2B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $383.9M | $548.4M | $529.7M | $589.5M | $693.6M | $769.7M | $747.9M | $663.1M | $763.6M | $785.0M |
| Custo da Receita | $281.2M | $332.8M | $319.3M | $352.0M | $405.7M | $446.9M | $451.9M | $404.5M | $455.7M | $477.8M |
| Lucro Bruto | $102.7M | $215.6M | $210.3M | $237.5M | $287.9M | $322.8M | $296.0M | $258.6M | $307.9M | $307.2M |
| P&D | $57.5M | $73.8M | $75.0M | $81.5M | $89.0M | $100.9M | $109.2M | $115.8M | $121.9M | $115.9M |
| Despesas Gerais e Administrativas | $73.4M | $95.5M | $99.3M | $106.3M | $115.1M | $123.8M | $131.9M | $133.0M | $141.8M | $127.1M |
| Despesas Operacionais | $150.6M | $169.3M | $174.2M | $187.8M | $204.1M | $224.7M | $241.1M | $175.8M | $243.1M | $243.0M |
| Lucro Operacional | -$47.9M | $46.3M | $36.1M | $49.7M | $83.8M | $98.0M | $54.9M | $82.8M | $64.8M | $64.2M |
| EBITDA | -$1.0M | $91.3M | $80.9M | $97.8M | $134.7M | $143.6M | $96.5M | $127.1M | $112.7M | $114.8M |
| Despesas com Juros | $2.4M | $4.5M | $3.3M | $1.9M | $864000 | $602000 | $579000 | $421000 | $418000 | $521000 |
| Lucro Antes de Impostos | -$50.2M | $42.2M | $33.9M | $51.1M | $85.2M | $98.5M | $57.9M | $89.3M | $79.4M | $67.4M |
| Imposto | -$43.6M | $1.3M | -$70.1M | $11.7M | $6.7M | $14.6M | $7.1M | $6.9M | $9.8M | $13.0M |
| Lucro Líquido | -$6.6M | $40.9M | $104.0M | $39.3M | $78.5M | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M |
| LPA | $-0.10 | $0.57 | $1.42 | $0.52 | $1.02 | $1.08 | $0.65 | $1.06 | $0.90 | $0.70 |
| LPA Diluído | $-0.10 | $0.55 | $1.38 | $0.51 | $0.99 | $1.06 | $0.65 | $1.05 | $0.89 | $0.69 |
| Ações em Circulação (Diluídas) | $64.9M | $74.2M | $75.2M | $77.3M | $79.0M | $79.1M | $78.2M | $78.2M | $78.4M | $78.3M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $202.7M | $215.2M | $226.1M | $258.2M |
| Lucro Bruto | $80.4M | $92.1M | $108.3M | $130.9M |
| Lucro Operacional | $19.0M | $28.2M | $47.1M | $57.8M |
| EBITDA | $33.1M | $40.1M | $30.0M | $68.1M |
| Lucro Líquido | $15.7M | $23.2M | $20.4M | $56.2M |
| LPA | $0.20 | $0.30 | $0.26 | $0.72 |
| LPA Diluído | $0.20 | $0.29 | $0.26 | $0.70 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $101.4M | $91.2M | $98.5M | $144.5M | $187.2M | $151.0M | $109.1M | $177.8M | $190.7M | $103.3M |
| Investimentos de Curto Prazo | $7.5M | $49.0M | $50.5M | $76.3M | $67.8M | $125.1M | $129.0M | $150.5M | $169.3M | $171.8M |
| Contas a Receber | $71.6M | $83.8M | $95.3M | $97.9M | $107.6M | $115.5M | $88.1M | $106.8M | $104.3M | $125.4M |
| Estoque | $59.8M | $67.8M | $77.7M | $83.3M | $99.2M | $111.5M | $123.2M | $111.7M | $101.7M | $110.9M |
| Ativos Circulantes | $254.7M | $305.9M | $337.8M | $419.0M | $487.1M | $524.0M | $474.6M | $573.8M | $605.1M | $557.1M |
| Imobilizado | $42.7M | $46.8M | $54.1M | $90.2M | $134.9M | $181.8M | $221.2M | $234.9M | $232.8M | $276.3M |
| Ágio | $188.0M | $189.9M | $189.2M | $199.2M | $212.8M | $212.3M | $211.4M | $201.1M | $199.2M | $216.0M |
| Ativos Intangíveis | $126.6M | $97.5M | $67.6M | $57.6M | $59.1M | $36.3M | $26.8M | $12.9M | $10.4M | $16.3M |
| Ativos Totais | $620.0M | $646.6M | $728.2M | $839.9M | $963.2M | $1.02B | $1.01B | $1.11B | $1.15B | $1.22B |
| Contas a Pagar | $34.1M | $35.0M | $40.0M | $40.9M | $62.0M | $57.9M | $69.3M | $63.9M | $62.3M | $47.4M |
| Dívida de Curto Prazo | $12.7M | $18.4M | $29.8M | $42.8M | $9.5M | $8.9M | $1.0M | $1.1M | $1.1M | $8.8M |
| Passivos Circulantes | $83.7M | $92.2M | $102.5M | $136.6M | $154.6M | $148.8M | $149.7M | $131.1M | $131.3M | $123.9M |
| Dívida de Longo Prazo | $125.5M | $87.2M | $35.0M | $15.6M | $25.0M | $15.4M | $14.4M | $13.3M | $12.2M | $23.6M |
| Passivos Totais | $218.9M | $187.9M | $148.1M | $198.9M | $219.1M | $204.7M | $199.9M | $198.0M | $198.4M | $189.0M |
| Reservas | -$428.6M | -$387.6M | -$283.6M | -$244.2M | -$165.7M | -$81.8M | -$31.1M | $51.3M | $120.9M | $175.3M |
| Patrimônio Líquido | $401.1M | $458.6M | $580.2M | $641.0M | $744.1M | $815.8M | $808.3M | $908.8M | $947.8M | $1.04B |
| Dívida Total | $138.2M | $105.7M | $64.8M | $94.1M | $69.2M | $63.3M | $50.4M | $48.1M | $39.2M | $44.8M |
| Dívida Líquida | $29.3M | -$34.5M | -$84.2M | -$126.7M | -$185.8M | -$212.8M | -$187.8M | -$280.2M | -$320.8M | -$231.4M |
| Capital de Giro | $171.0M | $213.7M | $235.3M | $282.5M | $332.5M | $375.3M | $324.9M | $442.7M | $473.8M | $433.2M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $97.7M | $103.3M | $123.5M | $109.8M |
| Ativos Totais | $1.20B | $1.22B | $1.26B | $1.34B |
| Passivos Totais | $193.4M | $189.0M | $197.1M | $231.1M |
| Patrimônio Líquido | $1.01B | $1.04B | $1.06B | $1.11B |
| Dívida Total | $33.2M | $44.8M | $31.9M | $29.9M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$6.6M | $40.9M | $104.0M | $39.3M | $78.5M | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M |
| Depreciação e Amortização | $46.8M | $44.6M | $43.7M | $44.9M | $48.7M | $44.5M | $38.0M | $37.5M | $32.9M | $46.9M |
| Compensação em Ações | $10.7M | $16.3M | $17.8M | $23.2M | $23.8M | $29.4M | $31.3M | $38.6M | $39.8M | $38.6M |
| Variação Capital de Giro | -$19.1M | -$24.1M | -$33.3M | $3.2M | $1.9M | -$49.8M | -$18.2M | -$32.2M | -$8.7M | -$43.0M |
| Fluxo de Caixa Operacional | $17.4M | $86.3M | $68.7M | $121.0M | $169.3M | $139.4M | $131.8M | $64.6M | $117.5M | $115.4M |
| CapEx | -$11.5M | -$17.8M | -$19.9M | -$20.8M | -$55.9M | -$66.5M | -$65.3M | -$56.0M | -$38.4M | -$103.7M |
| Aquisições | -$228.0M | $68000 | $94000 | -$20.5M | -$51.8M | 0 | -$3.4M | $101.8M | $21.6M | -$20.5M |
| Recompra de Ações | 0 | -$19.0M | 0 | 0 | 0 | 0 | 0 | 0 | -$53.3M | -$26.2M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $5.9M | $68.6M | $48.8M | $100.2M | $113.4M | $72.9M | $66.5M | $8.6M | $79.1M | $11.7M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $27.0M | $46.0M | $45.0M | $61.8M |
| CapEx | -$7.5M | -$11.3M | -$15.2M | -$9.6M |
| Fluxo de Caixa Livre | $19.5M | $34.7M | $29.8M | $52.2M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $9.5M | $9.9M | $8.1M | $8.7M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +42.9% | -3.4% | +11.3% | +17.7% | +11.0% | -2.8% | -11.3% | +15.2% | +2.8% |
| Crescimento Lucro Líquido (anual) | | +724.0% | +154.3% | -62.2% | +99.6% | +6.9% | -39.5% | +62.4% | -15.5% | -21.9% |
| Crescimento LPA (anual) | | +670.0% | +149.1% | -63.4% | +96.2% | +5.9% | -39.8% | +63.1% | -15.1% | -22.2% |
| Variação de Ações (anual) | | +14.3% | +1.3% | +2.8% | +2.2% | +0.2% | -1.2% | -0.1% | +0.4% | -0.2% |
| Crescimento FCF (anual) | | +1061.8% | -28.8% | +105.2% | +13.2% | -35.7% | -8.7% | -87.1% | +822.4% | -85.2% |
| Margem Bruta | 26.7% | 39.3% | 39.7% | 40.3% | 41.5% | 41.9% | 39.6% | 39.0% | 40.3% | 39.1% |
| Margem Operacional | -12.5% | 8.4% | 6.8% | 8.4% | 12.1% | 12.7% | 7.3% | 12.5% | 8.5% | 8.2% |
| Margem EBITDA | -0.3% | 16.6% | 15.3% | 16.6% | 19.4% | 18.7% | 12.9% | 19.2% | 14.8% | 14.6% |
| Margem Líquida | -1.7% | 7.5% | 19.6% | 6.7% | 11.3% | 10.9% | 6.8% | 12.4% | 9.1% | 6.9% |
| Margem FCF | 1.5% | 12.5% | 9.2% | 17.0% | 16.3% | 9.5% | 8.9% | 1.3% | 10.4% | 1.5% |
| Taxa Efetiva de Imposto | 86.9% | 3.1% | -206.6% | 22.9% | 7.8% | 14.8% | 12.3% | 7.7% | 12.3% | 19.3% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.09 | $0.92 | $0.65 | $1.30 | $1.44 | $0.92 | $0.85 | $0.11 | $1.01 | $0.15 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $64.9M | $72.3M | $73.5M | $75.0M | $76.7M | $77.8M | $77.6M | $77.4M | $77.3M | $77.3M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 5.25% |
| Retorno sobre capital investido | 4.67% |
| Retorno sobre ativos | 4.44% |
| Margem bruta | 45.64% |
| Margem operacional | 16.86% |
| Margem líquida | 12.80% |
Saúde financeira
| Dívida / Patrimônio | 0.03 |
| Liquidez corrente | 4.08 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 15.69 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -112.00 | 27.46 | 9.92 | 49.94 | 42.18 | 42.33 | 34.20 | 39.35 | 51.02 | 82.94 |
| P/VP | 1.81 | 2.47 | 1.78 | 3.04 | 4.43 | 4.36 | 2.13 | 3.55 | 3.75 | 4.34 |
| P/V | 1.89 | 2.06 | 1.95 | 3.30 | 4.76 | 4.62 | 2.31 | 4.87 | 4.65 | 5.72 |
| Margem Bruta | 26.7% | 39.3% | 39.7% | 40.3% | 41.5% | 41.9% | 39.6% | 39.0% | 40.3% | 39.1% |
| Margem Operacional | -12.5% | 8.4% | 6.8% | 8.4% | 12.1% | 12.7% | 7.3% | 12.5% | 8.5% | 8.2% |
| Margem Líquida | -1.7% | 7.5% | 19.6% | 6.7% | 11.3% | 10.9% | 6.8% | 12.4% | 9.1% | 6.9% |