NASDAQ : FORM
FormFactor, Inc. — Financial statements
Technology · Semiconductor Equipment & Materials · United States
Last price 97.46 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.61B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
FormFactor, Inc. (FORM) reported revenue of 980.10M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 980.10M | 784.99M | 763.60M | 663.10M | 747.94M | 769.67M |
| Cost of Revenue | 488.25M | 474.37M | 455.04M | 403.66M | 451.45M | 442.98M |
| Gross Profit | 491.84M | 310.62M | 308.56M | 259.44M | 296.49M | 326.69M |
| Selling, General & Admin | 136.92M | 129.45M | 141.64M | 131.82M | 131.88M | 123.74M |
| Research & Development | 121.51M | 115.41M | 121.80M | 115.47M | 109.22M | 100.07M |
| Operating Expenses | 278.44M | 247.88M | 263.44M | 247.30M | 241.10M | 223.81M |
| Operating Income | 213.40M | 62.74M | 45.12M | 12.14M | 55.39M | 102.89M |
| Interest Expense | -86.00K | -86.00K | 184.00K | 194.00K | -473.00K | -756.00K |
| Interest & Investment Income | 10.90M | 10.64M | 14.11M | 7.22M | 2.22M | 569.00K |
| Earnings From Equity Investments | 6.19M | -2.03M | ||||
| Currency Exchange Gain (Loss) | 1.80M | 1.80M | 1.00M | 600.00K | 1.10M | |
| Other Non Operating Income (Expenses) | -851.00K | -33.00K | -663.00K | -1.50M | 111.00K | 649.00K |
| EBT Excluding Unusual Items | 231.35M | 73.03M | 59.75M | 18.65M | 58.35M | 103.35M |
| Merger & Restructuring Charges | -33.87M | -5.67M | -923.00K | -2.34M | -476.00K | -4.85M |
| Gain (Loss) on Sale of Assets | 20.58M | 72.95M | ||||
| Pretax Income | 197.49M | 67.36M | 79.41M | 89.27M | 57.87M | 98.50M |
| Income Tax Expense | 23.86M | 13.00M | 9.80M | 6.88M | 7.13M | 14.58M |
| Net Income | 173.63M | 54.36M | 69.61M | 82.39M | 50.74M | 83.92M |
| Net Income to Common | 173.63M | 54.36M | 69.61M | 82.39M | 50.74M | 83.92M |
| Shares Outstanding (Basic) | 77.93M | 77.35M | 77.34M | 77.37M | 77.58M | 77.79M |
| Shares Outstanding (Diluted) | 79.59M | 78.31M | 78.44M | 78.16M | 78.20M | 79.13M |
| EPS (Basic) | 2.23 | 0.70 | 0.90 | 1.06 | 0.65 | 1.08 |
| EPS (Diluted) | 2.17 | 0.69 | 0.89 | 1.05 | 0.65 | 1.06 |
| Free Cash Flow | 181.26M | 11.74M | 79.10M | 8.57M | 66.53M | 72.87M |
| Free Cash Flow Per Share | 2.28 | 0.15 | 1.01 | 0.11 | 0.85 | 0.92 |
| Gross Margin | 50.18% | 39.57% | 40.41% | 39.12% | 39.64% | 42.45% |
| Operating Margin | 21.77% | 7.99% | 5.91% | 1.83% | 7.41% | 13.37% |
| Profit Margin | 17.72% | 6.93% | 9.12% | 12.42% | 6.78% | 10.90% |
| Free Cash Flow Margin | 18.49% | 1.50% | 10.36% | 1.29% | 8.89% | 9.47% |
| EBITDA | 249.47M | 100.33M | 78.03M | 49.59M | 93.42M | 147.40M |
| EBITDA Margin | 25.45% | 12.78% | 10.22% | 7.48% | 12.49% | 19.15% |
| D&A For EBITDA | 36.07M | 37.59M | 32.90M | 37.45M | 38.04M | 44.52M |
| EBIT | 213.40M | 62.74M | 45.12M | 12.14M | 55.39M | 102.89M |
| EBIT Margin | 21.77% | 7.99% | 5.91% | 1.83% | 7.41% | 13.37% |
| Effective Tax Rate | 12.08% | 19.30% | 12.34% | 7.71% | 12.32% | 14.80% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 138.18M | 103.33M | 190.73M | 177.81M | 109.13M | 151.01M |
| Short-Term Investments | 257.23M | 171.84M | 169.29M | 150.51M | 129.01M | 125.06M |
| Cash & Short-Term Investments | 395.41M | 275.17M | 360.02M | 328.32M | 238.14M | 276.06M |
| Accounts Receivable | 152.66M | 127.72M | 111.19M | 106.76M | 90.04M | 116.44M |
| Receivables | 152.66M | 127.72M | 111.19M | 106.76M | 90.04M | 116.44M |
| Inventory | 129.63M | 110.88M | 101.68M | 111.69M | 123.16M | 111.55M |
| Prepaid Expenses | 45.85M | 42.22M | 28.49M | 25.87M | 22.00M | 17.75M |
| Restricted Cash | 729.00K | 1.06M | 3.75M | 1.15M | 1.22M | 2.23M |
| Total Current Assets | 724.29M | 557.05M | 605.13M | 573.78M | 474.55M | 524.04M |
| Property, Plant & Equipment | 313.87M | 276.27M | 232.81M | 234.92M | 221.21M | 181.76M |
| Long-Term Investments | 70.47M | 64.10M | ||||
| Goodwill | 212.56M | 216.03M | 199.17M | 201.09M | 211.44M | 212.30M |
| Other Intangible Assets | 17.17M | 16.30M | 10.36M | 12.94M | 26.75M | 36.34M |
| Long-Term Deferred Tax Assets | 87.68M | 89.52M | 92.01M | 78.96M | 67.65M | 61.99M |
| Other Long-Term Assets | 5.66M | 5.09M | 6.74M | 5.10M | 6.62M | 4.08M |
| Total Assets | 1.43B | 1.22B | 1.15B | 1.11B | 1.01B | 1.02B |
| Accounts Payable | 75.41M | 47.44M | 62.29M | 63.86M | 69.31M | 57.86M |
| Accrued Expenses | 57.71M | 36.74M | 31.18M | 25.39M | 19.27M | 32.77M |
| Current Portion of Long-Term Debt | 1.16M | 1.14M | 1.11M | 1.07M | 1.04M | 8.93M |
| Current Portion of Leases | 8.13M | 7.66M | 8.36M | 8.42M | 7.35M | 7.90M |
| Current Income Taxes Payable | 3.10M | 2.97M | 8.21M | 12.82M | 8.09M | |
| Current Unearned Revenue | 54.59M | 20.09M | 15.85M | 16.70M | 29.85M | 23.22M |
| Other Current Liabilities | 7.69M | 9.59M | 7.44M | 10.03M | 9.98M | |
| Total Current Liabilities | 197.00M | 123.86M | 131.34M | 131.09M | 149.67M | 148.75M |
| Long-Term Debt | 10.20M | 11.07M | 12.21M | 13.31M | 14.39M | 15.43M |
| Long-Term Leases | 8.28M | 12.49M | 17.55M | 25.33M | 27.59M | 31.01M |
| Long-Term Unearned Revenue | 19.31M | 19.05M | 19.30M | 1.05M | 976.00K | |
| Long-Term Deferred Tax Liabilities | 2.28M | 1.60M | 2.73M | 3.62M | ||
| Other Long-Term Liabilities | 32.66M | 20.63M | 18.29M | 8.95M | 4.51M | 4.94M |
| Total Liabilities | 250.42M | 188.96M | 198.45M | 197.99M | 199.94M | 204.74M |
| Common Stock | 78.00K | 78.00K | 77.00K | 77.00K | 77.00K | 78.00K |
| Additional Paid-In Capital | 864.84M | 863.55M | 837.59M | 861.45M | 844.84M | 898.95M |
| Retained Earnings | 325.72M | 175.31M | 120.94M | 51.33M | -31.06M | -81.79M |
| Comprehensive Income & Other | -9.35M | -3.53M | -10.84M | -4.05M | -5.58M | -1.45M |
| Shareholders' Equity | 1.18B | 1.04B | 947.77M | 908.80M | 808.28M | 815.78M |
| Total Liabilities & Equity | 1.43B | 1.22B | 1.15B | 1.11B | 1.01B | 1.02B |
| Total Debt | 27.76M | 32.36M | 39.23M | 48.15M | 50.37M | 63.27M |
| Net Cash (Debt) | 367.65M | 242.81M | 320.80M | 280.17M | 187.76M | 212.79M |
| Net Cash Per Share | 4.62 | 3.10 | 4.09 | 3.58 | 2.40 | 2.69 |
| Filing Date Shares Outstanding | 78.29M | 77.92M | 77.57M | 77.60M | 77.14M | 78.33M |
| Total Common Shares Outstanding | 78.29M | 77.65M | 77.11M | 77.38M | 76.91M | 78.24M |
| Working Capital | 527.30M | 433.19M | 473.78M | 442.69M | 324.88M | 375.29M |
| Book Value Per Share | 15.09 | 13.33 | 12.29 | 11.75 | 10.51 | 10.43 |
| Tangible Book Value | 951.55M | 803.07M | 738.24M | 694.78M | 570.09M | 567.14M |
| Tangible Book Value Per Share | 12.15 | 10.34 | 9.57 | 8.98 | 7.41 | 7.25 |
| Land | 35.27M | 17.12M | 17.12M | 17.14M | 4.75M | |
| Buildings | 46.50M | 46.58M | 46.53M | 44.93M | 41.72M | |
| Machinery | 369.20M | 361.98M | 340.57M | 329.53M | 304.59M | |
| Construction In Progress | 94.15M | 63.15M | 67.14M | 47.46M | 25.92M | |
| Leasehold Improvements | 104.26M | 101.37M | 91.06M | 86.50M | 82.27M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 173.63M | 54.36M | 69.61M | 82.39M | 50.74M | 83.92M |
| Depreciation & Amortization | 36.07M | 37.59M | 32.90M | 37.45M | 38.04M | 44.52M |
| Loss (Gain) From Sale of Assets | -103.00K | -103.00K | -20.58M | -72.95M | 296.00K | 449.00K |
| Asset Writedown & Restructuring Costs | 15.44M | 2.12M | 428.00K | 200.00K | 1.65M | |
| Loss (Gain) From Sale of Investments | -1.98M | -1.98M | -3.24M | -2.83M | 182.00K | 403.00K |
| Loss (Gain) on Equity Investments | -6.19M | 2.03M | ||||
| Stock-Based Compensation | 35.43M | 38.58M | 39.76M | 38.62M | 31.34M | 29.38M |
| Other Operating Activities | 47.68M | 25.77M | 7.30M | 14.16M | 29.17M | 28.80M |
| Change in Accounts Receivable | -20.16M | -20.16M | -1.92M | -23.30M | 26.03M | -9.09M |
| Change in Inventory | -20.66M | -20.66M | -8.26M | -9.49M | -28.78M | -31.66M |
| Change in Accounts Payable | -5.68M | -5.68M | -8.23M | 1.32M | 3.90M | -6.59M |
| Change in Unearned Revenue | 4.49M | 4.49M | 2.70M | 7.82M | 1.29M | 1.97M |
| Change in Other Net Operating Assets | -953.00K | -953.00K | 7.06M | -8.58M | -20.61M | -4.40M |
| Operating Cash Flow | 257.01M | 115.40M | 117.53M | 64.60M | 131.79M | 139.36M |
| Capital Expenditures | -75.75M | -103.66M | -38.44M | -56.03M | -65.25M | -66.50M |
| Sale of Property, Plant & Equipment | 772.00K | |||||
| Cash Acquisitions | -20.58M | -20.58M | -3.35M | |||
| Divestitures | 103.00K | 103.00K | 21.59M | 101.78M | ||
| Investment in Securities | -90.27M | -67.33M | -15.13M | -16.71M | -6.10M | -58.24M |
| Other Investing Activities | -1.50M | -1.00M | ||||
| Investing Cash Flow | -185.72M | -191.47M | -33.48M | 29.05M | -75.70M | -124.74M |
| Long-Term Debt Repaid | -1.11M | -1.07M | -1.04M | -8.40M | -9.34M | |
| Net Debt Issued (Repaid) | -1.13M | -1.11M | -1.07M | -1.04M | -8.40M | -9.34M |
| Issuance of Common Stock | 11.10M | 26.12M | 9.75M | 8.82M | 10.50M | 10.65M |
| Repurchase of Common Stock | -39.42M | -38.65M | -73.28M | -30.49M | -98.03M | -44.64M |
| Other Financing Activities | -3.87M | |||||
| Financing Cash Flow | -29.45M | -13.63M | -64.61M | -22.71M | -95.93M | -47.20M |
| Foreign Exchange Rate Adjustments | -1.18M | -456.00K | -3.51M | -2.65M | -2.51M | -3.18M |
| Net Cash Flow | 40.66M | -90.16M | 15.93M | 68.29M | -42.36M | -35.76M |
| Free Cash Flow | 181.26M | 11.74M | 79.10M | 8.57M | 66.53M | 72.87M |
| Free Cash Flow Margin | 18.49% | 1.50% | 10.36% | 1.29% | 8.89% | 9.47% |
| Free Cash Flow Per Share | 2.28 | 0.15 | 1.01 | 0.11 | 0.85 | 0.92 |
| Levered Free Cash Flow | 159.54M | -31.93M | 63.18M | -965.88K | 59.35M | 48.87M |
| Unlevered Free Cash Flow | 159.59M | -31.87M | 63.07M | -1.09M | 59.64M | 49.35M |
| Cash Interest Paid | 335.00K | 362.00K | 391.00K | 422.00K | 535.00K | 643.00K |
| Cash Income Tax Paid | 8.93M | 8.93M | 15.58M | 17.39M | 10.92M | 7.96M |
| Change in Working Capital | -42.97M | -42.97M | -8.65M | -32.23M | -18.17M | -49.76M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.82B | 4.50B | 3.56B | 3.25B | 1.71B | 3.48B |
| Enterprise Value | 6.45B | 4.27B | 3.24B | 3.05B | 1.51B | 3.28B |
| Last Close Price | 87.30 | 58.06 | 45.92 | 41.71 | 22.23 | 44.51 |
| PE Ratio | 40.16 | 82.79 | 51.09 | 39.41 | 33.75 | 41.48 |
| Forward PE | 21.87 | 40.28 | 31.21 | 42.67 | 46.32 | 26.40 |
| PS Ratio | 6.96 | 5.73 | 4.66 | 4.90 | 2.29 | 4.52 |
| PB Ratio | 5.79 | 4.35 | 3.75 | 3.57 | 2.12 | 4.27 |
| P/TBV Ratio | 7.17 | 5.60 | 4.82 | 4.67 | 3.00 | 6.14 |
| P/FCF Ratio | 37.63 | 383.36 | 44.96 | 378.63 | 25.74 | 47.77 |
| P/OCF Ratio | 26.54 | 39.00 | 30.26 | 50.26 | 12.99 | 24.98 |
| PEG Ratio | 0.30 | 1.25 | 1.56 | 2.13 | 2.32 | 1.32 |
| EV/Sales Ratio | 6.58 | 5.44 | 4.25 | 4.60 | 2.02 | 4.27 |
| EV/EBITDA Ratio | 25.86 | 42.54 | 41.58 | 61.50 | 16.20 | 22.28 |
| EV/EBIT Ratio | 30.24 | 68.03 | 71.89 | 251.27 | 27.33 | 31.92 |
| EV/FCF Ratio | 35.60 | 363.53 | 41.01 | 355.70 | 22.75 | 45.06 |
| Debt / Equity Ratio | 0.02 | 0.03 | 0.04 | 0.05 | 0.06 | 0.08 |
| Debt / EBITDA Ratio | 0.11 | 0.29 | 0.43 | 0.79 | 0.48 | 0.40 |
| Debt / FCF Ratio | 0.15 | 2.76 | 0.50 | 5.62 | 0.76 | 0.87 |
| Net Debt / Equity Ratio | -0.31 | -0.23 | -0.34 | -0.31 | -0.23 | -0.26 |
| Net Debt / EBITDA Ratio | -1.47 | -2.42 | -4.11 | -5.65 | -2.01 | -1.44 |
| Net Debt / FCF Ratio | -2.03 | -20.68 | -4.06 | -32.67 | -2.82 | -2.92 |
| Asset Turnover | 0.74 | 0.66 | 0.68 | 0.63 | 0.74 | 0.78 |
| Inventory Turnover | 4.09 | 4.46 | 4.26 | 3.44 | 3.85 | 4.20 |
| Quick Ratio | 2.78 | 3.25 | 3.59 | 3.32 | 2.19 | 2.64 |
| Current Ratio | 3.68 | 4.50 | 4.61 | 4.38 | 3.17 | 3.52 |
| Return on Equity (ROE) | 15.85% | 5.48% | 7.50% | 9.60% | 6.25% | 10.76% |
| Return on Assets (ROA) | 10.12% | 3.31% | 2.50% | 0.72% | 3.41% | 6.48% |
| Return on Invested Capital (ROIC) | 23.32% | 7.13% | 6.30% | 1.79% | 7.94% | 15.10% |
| Return on Capital Employed (ROCE) | 17.30% | 5.70% | 4.40% | 1.20% | 6.50% | 11.80% |
| Earnings Yield | 2.49% | 1.21% | 1.96% | 2.54% | 2.96% | 2.41% |
| FCF Yield | 2.66% | 0.26% | 2.22% | 0.26% | 3.89% | 2.09% |
| Buyback Yield / Dilution | -2.26% | 0.16% | -0.36% | 0.05% | 1.18% | -0.17% |