FormFactor, Inc. (FORM) is a publicly traded company in the Technology — Semiconductors industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
FormFactor, Inc., established in Livermore, California in 1993, specializes in the design, manufacturing, and global distribution of advanced test and measurement solutions for the semiconductor industry. The company primarily caters to semiconductor manufacturers and research institutions, operating through two main divisions: Probe Cards and Systems.
Is FormFactor, Inc. stock overvalued or undervalued in 2026?
FormFactor, Inc. (FORM) trades at 40.2× earnings (P/E), above the median of the 317 technology companies over $2bn in Kaplio's universe. At the decade median (38.3×) $83 (-5 %); at its sector median (31.5×) $69 (-22 %).
Kaplio overview: FormFactor, Inc.
Market cap $7B · 52 weeks $49 – $160 (45 % below the high) · P/E 40.2× · 2027 est. P/E 22.7× · Dividend none · Next earnings February 3, 2027 · expected EPS $0.80 · Closing price, Oct 30 · accounts published Oct 28.
- Valuation: TTM P/E 40.2× (fairly priced).
- Business: ROIC 15 % (fair).
- Balance sheet: Net cash/EBITDA 0.5× (solid).
- Earnings: 6 of 8 (uneven).
What would it be worth at its usual multiples?
At the decade median (38.3×) $83 (-5 %); at its sector median (31.5×) $69 (-22 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in technology: 4 of 7 pass
- 3y revenue growth 1.7 %, fails.
- Gross margin 39.1 %, fails.
- FCF / Revenue 1.5 %, fails.
- ROIC 15.1 %, passes, near the threshold.
- SBC / Revenue 4.9 %, passes.
- Net debt / EBITDA −0.5×, passes.
- EV/EBITDA vs own 5y 29.5×, passes.
Against its peers (reference peers) — FormFactor, Inc.: P/E 40.1×; EV/EBITDA 29.5×; ROIC 15.1 %; $6.8B. Cohu, Inc. (P/E —; EV/EBITDA 58.9×; ROIC -1.0 %; $2.4B), Teradyne, Inc. (P/E 31.5×; EV/EBITDA 23.8×; ROIC 33.6 %; $42.9B), Silicon Motion Technology Corporation (P/E 22.4×; EV/EBITDA 17.8×; ROIC 11.9 %; $7.0B).
Expensive or cheap against its last 8 years?
P/E at each close: today 40.1× · median 38.3× · minimum 17.8× · maximum 110× · cheap below 32.3× · expensive above 49.8×. It has been cheaper than today 59% of the time over its last 8 years.
Profitability
| Return on Equity | 15.83% |
| Return on Invested Capital | 15.13% |
| Return on Assets | 12.13% |
| Gross Margin | 49.46% |
| Operating Margin | 21.91% |
| Net Margin | 17.72% |
Financial Health
| Debt / Equity | 0.02 |
| Current Ratio | 3.68 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 15.69 |
Price Performance
| 1 month | -41.31% |
| 3 months | -27.24% |
| Year-to-date | +56.92% |
| 1 year | +59.29% |
| 3 years | +159.96% |
| 5 years | +103.56% |
| 10 years | +883.48% |
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Explore sector: Technology · Semiconductors
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