FormFactor Inc
NASDAQ:FORM

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FormFactor Inc Logo
FormFactor Inc
NASDAQ:FORM
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Price: 41.15 USD 0.91% Market Closed
Market Cap: 3.2B USD
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Intrinsic Value

The intrinsic value of one FORM stock under the Base Case scenario is 38.04 USD. Compared to the current market price of 41.15 USD, FormFactor Inc is Overvalued by 8%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

FORM Intrinsic Value
38.04 USD
Overvaluation 8%
Intrinsic Value
Price
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Base Case
Best Case

Valuation Backtest
FormFactor Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
FormFactor Inc

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Financials
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TTM

Balance Sheet Decomposition
FormFactor Inc

Current Assets 614.8m
Cash & Short-Term Investments 354.5m
Receivables 123.7m
Other Current Assets 136.6m
Non-Current Assets 539m
PP&E 229.1m
Intangibles 211.2m
Other Non-Current Assets 98.7m
Current Liabilities 129.2m
Accounts Payable 52.1m
Accrued Liabilities 55m
Other Current Liabilities 22.1m
Non-Current Liabilities 69.6m
Long-Term Debt 12.5m
Other Non-Current Liabilities 57.1m
Efficiency

Earnings Waterfall
FormFactor Inc

Revenue
742.3m USD
Cost of Revenue
-440m USD
Gross Profit
302.3m USD
Operating Expenses
-257.6m USD
Operating Income
44.7m USD
Other Expenses
91.1m USD
Net Income
135.8m USD

Free Cash Flow Analysis
FormFactor Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

FormFactor reported an all-time record revenue of $207.9 million in Q3, surpassing guidance by $2.9 million, with a year-over-year growth of 21.2%. The Probe Card segment saw notable success with revenues of $172.2 million, driven by strong DRAM demand. Looking ahead, Q4 revenue is projected at $190 million, influenced by a slight increase in DRAM but a decrease in foundry and logic. Non-GAAP gross margin for Q4 is expected to be around 41%. FormFactor anticipates further growth in DRAM probe cards, capitalizing on trends in DDR5 and HBM innovations.

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Fundamental Scores

FORM Profitability Score
Profitability Due Diligence

FormFactor Inc's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive Revenue Growth Forecast
ROE is Increasing
52/100
Profitability
Score

FormFactor Inc's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

FORM Solvency Score
Solvency Due Diligence

FormFactor Inc's solvency score is 99/100. The higher the solvency score, the more solvent the company is.

High Interest Coverage
High Altman Z-Score
Short-Term Solvency
Long-Term Solvency
99/100
Solvency
Score

FormFactor Inc's solvency score is 99/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

FORM Price Targets Summary
FormFactor Inc

Wall Street analysts forecast FORM stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for FORM is 54.97 USD with a low forecast of 44.44 USD and a high forecast of 71.4 USD.

Lowest
Price Target
44.44 USD
8% Upside
Average
Price Target
54.97 USD
34% Upside
Highest
Price Target
71.4 USD
74% Upside
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Dividends

FormFactor Inc
does not pay dividends
Shareholder Yield

Current shareholder yield for FORM is .

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Dividend Yield
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Ownership

FORM Insider Trading
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Profile

FormFactor Inc Logo
FormFactor Inc

Country

United States of America

Industry

Semiconductors

Market Cap

3.2B USD

Dividend Yield

0%

Description

FormFactor, Inc. engages in the provision of test and measurement solutions. The company is headquartered in Livermore, California and currently employs 2,293 full-time employees. The company went IPO on 2003-06-12. The firm operates through two segments: Probe Cards and Systems. The company designs, manufactures and sells multiple product lines, including probe cards, analytical probes, probe stations and metrology systems. The Company’s probe cards utilize a variety of technologies and product architectures, including micro-electromechanical systems (MEMS) technologies. Its analytical probes are used for a diverse set of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging. Its probe stations also referred to as probing systems, are a critical tool for the development of semiconductor and electro-optical processes and designs. The company offers surface metrology systems for various applications, including the development, production and quality control of semiconductor products. Its product lines also include thermal systems and cryogenic systems.

Contact

CALIFORNIA
Livermore
7005 Southfront Rd
+19252904000.0
www.formfactor.com

IPO

2003-06-12

Employees

2 293

Officers

CEO, President & Director
Dr. Michael D. Slessor
Chief Financial Officer
Mr. Shai Shahar
CTO and Senior VP of Technology R&D
Mr. Jarek Kister
Chief Information Officer
Mr. Steven Nott
Head of Investor Relations
Stan Finkelstein
Senior VP & Chief Legal Officer
Mr. Alan Lop-Gate Chan
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Chief Human Resources Officer
Ms. Aliza Scott
Chief Commercial Officer
Mr. Aasutosh Dave
Senior VP & GM of Probes Business Unit
Mr. Sudhakar Raman
Secretary
Ms. Christy Robertson
Show Less

See Also

Discover More
What is the Intrinsic Value of one FORM stock?

The intrinsic value of one FORM stock under the Base Case scenario is 38.04 USD.

Is FORM stock undervalued or overvalued?

Compared to the current market price of 41.15 USD, FormFactor Inc is Overvalued by 8%.

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