Stocks · Technology · Semiconductors
FormFactor, Inc. FORM
$149.15 +0.48% Close, Oct 2, 2026 · NASDAQ · Market cap $11.63B
Strong growthHigh qualityStrong trend
Next earnings report: Nov 4, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $1.45, up 157.9% year over year.
- Over the past year the stock returned +285.3%, ahead of the S&P 500 by 270.2 percentage points.
- Operating margin widened to 16.9% from 5.7% a year earlier.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 37%
- EPS growth (TTM, YoY)Top 12%
- FCF growth (TTM, YoY)Top 1%
- Revenue growth, 3-year CAGRBottom 35%
- Revenue growth accelerationTop 12%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 23%
- Gross marginBottom 43%
- Operating marginTop 21%
- Cash conversion (OCF / net income)Bottom 44%
- Accruals (lower is better)Bottom 40%
- Net debt / EBITDA (lower is better)Top 34%
- Interest coverTop 2%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 48%
- Free-cash-flow yieldBottom 36%
- EBITDA / enterprise valueBottom 39%
- Sales / enterprise valueBottom 18%
- P/E vs own 5-year history (lower is better)Bottom 18%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 4%
- 6-month returnTop 34%
- 1-year return vs S&P 500Top 3%
- Distance from 52-week highTop 14%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 19%
- Consecutive EPS beatsTop 41%
- Share of analysts rating BuyBottom 32%
- Upside to consensus price targetBottom 25%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 14%
- Maximum drawdown, 3 yearsBottom 47%
- Beta vs S&P 500 (lower is better)Bottom 23%
- Net debt / EBITDA (lower is better)Top 34%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 9.6% | 18.0% | ↑ |
| EPS growth (YoY) | 25.7% | 157.9% | ↑ |
| Gross margin | 38.9% | 45.6% | ↑ |
| Operating margin | 5.7% | 16.9% | ↑ |
| FCF margin | 0.5% | 15.1% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 18.0% | 9.6% | ↑ | Top 37% |
| EPS growth (TTM, YoY) | 157.9% | 25.7% | ↑ | Top 12% |
| Gross margin | 45.6% | 38.9% | ↑ | Bottom 43% |
| Operating margin | 16.9% | 5.7% | ↑ | Top 21% |
| Net margin | 12.8% | 5.7% | ↑ | — |
| Free-cash-flow margin | 15.1% | 0.5% | ↑ | — |
| Return on invested capital | 11.2% | — | Top 23% | |
| Revenue growth, 3-year CAGR | 1.6% | — | Bottom 35% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.56×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -4.8%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 4.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +17.2 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -0.47×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 461.0×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -0.22%
- Shareholder yield
- -0.22%
- Share count change, 1 year
- +2.6%
- Share count change, 3-year CAGR
- +0.8%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 27, 2026 (filed Aug 4, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 4
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +30.6%
- Average 2-day reaction, last 8
- +0.6%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $157.57
- Target vs current price
- +5.6%
- Analysts with a rating
- 19
- Share rating Buy or Strong Buy
- 53%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | +34.6% | -5.4% | +36.3% | +22.1% | — |
| Apr 29, 2026 | +24.4% | +1.0% | +8.1% | -0.9% | -22.5% |
| Feb 4, 2026 | +31.4% | -4.2% | +24.9% | +24.0% | +82.0% |
| Oct 29, 2025 | +32.0% | +12.5% | +21.9% | +25.4% | +74.4% |
| Jul 30, 2025 | -10.0% | -0.8% | -16.0% | -15.2% | +19.0% |
| Apr 30, 2025 | +21.1% | +0.8% | +5.3% | +11.6% | +22.1% |
| Feb 5, 2025 | -6.9% | +3.8% | -11.6% | -18.2% | -26.8% |
| Oct 30, 2024 | +12.9% | -3.0% | -13.2% | -11.8% | -16.1% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | $0.82 | $0.61 | +34.6% | $258.2M |
| Apr 29, 2026 | $0.56 | $0.45 | +24.4% | $226.1M |
| Feb 4, 2026 | $0.46 | $0.35 | +31.4% | $215.2M |
| Oct 29, 2025 | $0.33 | $0.25 | +32.0% | $202.7M |
| Jul 30, 2025 | $0.27 | $0.30 | -10.0% | $195.8M |
| Apr 30, 2025 | $0.23 | $0.19 | +21.1% | $171.4M |
| Feb 5, 2025 | $0.27 | $0.29 | -6.9% | $189.5M |
| Oct 30, 2024 | $0.35 | $0.31 | +12.9% | $207.9M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 102.9× | 42.3× | 89th | Bottom 48% |
| P/E (forward) | 48.9× | — | — | — |
| EV / EBITDA | 67.4× | — | — | Bottom 39% |
| EV / Sales | 12.80× | — | — | Bottom 18% |
| Free-cash-flow yield | 1.17% | — | — | Bottom 36% |
| Earnings yield | 0.97% | — | — | Bottom 48% |
P/E over the past five years
Range 17.5× – 166.7× since Jun 26, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +285.3%
- Earnings per share growth (TTM)
- +157.9%
- Change in P/E multiple
- +60.1%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 12
- Days above the 200-day average
- 13
- 50-day average slope (20 days)
- +0.3%
- 200-day average slope (20 days)
- +6.7%
- Distance from 50-day average
- +29.4%
- Distance from 200-day average
- +37.4%
- RSI (14)
- 72.8
- Relative volume
- 1.66×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 93.0%
- Volatility vs own 5-year history
- 95th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.07
- Correlation with S&P 500
- 0.49
- Current drawdown from 1-year high
- -6.7%
- Maximum drawdown, 3 years
- -62.7%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Apr 5, 2021 | Nov 3, 2022 | -64.4% | 401 days | 374 days (May 2, 2024) |
| Jul 3, 2024 | Apr 8, 2025 | -62.7% | 191 days | 186 days (Jan 5, 2026) |
| Jun 30, 2026 | Jul 29, 2026 | -47.8% | 20 days | Not yet recovered |
| Apr 24, 2026 | Jun 1, 2026 | -25.8% | 25 days | 14 days (Jun 22, 2026) |
| Feb 16, 2021 | Mar 8, 2021 | -19.9% | 14 days | 19 days (Apr 5, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $11.63B
- P/E (TTM)
- 102.9
- EPS, diluted (TTM)
- $1.45
- Revenue (TTM)
- $902.2M
- 52-week range
- $37.14 – $160.27
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $769.7M | $747.9M | $663.1M | $763.6M | $785.0M |
| Gross profit | $322.8M | $296.0M | $258.6M | $307.9M | $307.2M |
| Operating income | $98.0M | $54.9M | $82.8M | $64.8M | $64.2M |
| Net income | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M |
| EPS (diluted) | $1.06 | $0.65 | $1.05 | $0.89 | $0.69 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $207.9M | $189.5M | $171.4M | $195.8M | $202.7M | $215.2M | $226.1M | $258.2M |
| Net income | $18.7M | $9.7M | $6.4M | $9.1M | $15.7M | $23.2M | $20.4M | $56.2M |
| EPS (diluted) | $0.24 | $0.12 | $0.08 | $0.12 | $0.20 | $0.29 | $0.26 | $0.70 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $139.4M | $131.8M | $64.6M | $117.5M | $115.4M |
| Capital expenditure | -$66.5M | -$65.3M | -$56.0M | -$38.4M | -$103.7M |
| Free cash flow | $72.9M | $66.5M | $8.6M | $79.1M | $11.7M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $10.7M | $10.5M | $8.8M | -$43.6M | -$125,000 |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $345.6M
- Total assets
- $1.34B
- Total liabilities
- $231.1M
- Total debt
- $29.9M
- Net debt
- -$79.8M
- Shareholders’ equity
- $1.11B
As of Jun 27, 2026 (filed Aug 4, 2026).
Short interest
- Shares sold short
- 3,217,345
- Days to cover
- 2.99
- Change vs previous report
- +8.9%
FINRA short interest, settlement date Sep 15, 2026.