FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, thermal systems, and cryogenic systems to semiconductor companies and scientific institutions. The company is headquartered in Livermore, California.
| Revenue (TTM) | $980.10M |
| Gross Profit (TTM) | $492.20M |
| EBITDA | $251.94M |
| Operating Margin | 30.10% |
| Return on Equity | 15.90% |
| Return on Assets | 10.20% |
| Revenue/Share (TTM) | $12.58 |
| Book Value | $15.07 |
| Price-to-Book | 4.76 |
| Price-to-Sales (TTM) | 6.49 |
| EV/Revenue | 5.37 |
| EV/EBITDA | 21.36 |
| Quarterly Earnings Growth (YoY) | 365.00% |
| Quarterly Revenue Growth (YoY) | 38.40% |
| Shares Outstanding | $78.40M |
| Float | $77.75M |
| % Insiders | 0.72% |
| % Institutions | 94.25% |
Volatility is currently expanding
FormFactor targets $400M in annual probe card capacity by 2027 as AI-driven chip testing demand, manufacturing improvements and photonics growth fuel expansion.
FormFactor delivered strong Q3 results, with revenue up 38.4% to $280.5 million and robust profit growth. Demand for probe cards is rising due to complex AI processors and memory chips, driving near-full capacity utilization and necessitating a new Texas factory. Growth catalysts include expanded probe card production and accelerating silicon photonics revenue, though customer concentration and margin sustainability pose risks.
FormFactor (FORM) possesses solid growth attributes, which could help it handily outperform the market.
FormFactor is a better buy compared with Cohu due to higher profitability, established AI revenues and cash generation ability.
FormFactor FORM shares dropped 11.65% on Thursday following third-quarter 2026 results despite reporting better-than-expected earnings and revenues. The selloff appears to reflect investor concerns about slowing near-term revenue growth, capacity constraints, normalization of unusually strong gross margins and earnings, and temporary profitability pressures associated with the company's new Farmers Branch manufacturing facility.
FormFactor's HBM4 testing and growing foundry business are benefiting from AI chip complexity.
Five stocks, including Healthcare Services Group and CarMax, stand out for superior efficiency ratios and strong earnings surprises, offering compelling growth potential.
FORM, RLJ, PK, NBIS and JAPAY have been added to the Zacks Rank #1 (Strong Buy) List on October 30th, 2026.
FORM's Q3'26 earnings beat estimates as revenues jump 38.4%, fueled by strong demand for probe cards, DRAM and photonics systems.
FormFactor delivered a stellar Q3, with revenue up 38.5% y/y and strong beats on top and bottom lines. FORM's gross margins surged to 54.7% in Q3, aided by tariff refunds, but are expected to normalize around 53% in 2027. Capacity constraints are limiting near-term growth, with the next factory ramp not providing immediate relief and possibly impacting 2027 profitability.
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