FORMFACTOR INC FORM
FormFactor, Inc. is a leading provider of electrical and optical test and measurement technologies along the full semiconductor product lifecycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. We provide a broad range of high-performance probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems to both semiconductor companies and scientific institutions. Our products provide electrical and optical information from a variety of semiconductor and electro-optical devices and integrated circuits from early research, through development, to high-volume production. Customers use our products and services to accelerate profitability by optimizing device performance, reducing scrap, and improving yields.
Last close
98.51
2026-10-23
Market cap
$7.70B
2026-06-27 share count
52-week range
41.84 - 160.27
Valuation FY2025 figures against the last close
P/S9.8x
P/E142.8x
P/FCF655.5x
EV/EBITDA78.5x
Dividend yield—
Diluted EPS0.69
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $785.0M | $763.6M | $663.1M | $747.9M | $769.7M | $693.6M | $589.5M | $529.7M | $548.4M | $383.9M |
| Cost of revenue | $476.1M | $455.7M | $404.5M | $451.9M | $446.9M | $405.7M | $352.0M | $319.3M | $332.8M | $281.2M |
| Gross profit | $308.9M | $307.9M | $258.6M | $296.0M | $322.8M | $287.9M | $237.5M | $210.3M | $215.6M | $102.7M |
| R&D | $115.7M | $121.9M | $115.8M | $109.2M | $100.9M | $89.0M | $81.5M | $75.0M | $73.8M | $57.5M |
| SG&A | $133.1M | $141.8M | $133.0M | $131.9M | $123.8M | $115.1M | $106.3M | $99.3M | $95.5M | $73.4M |
| Total operating expenses | $251.8M | $263.7M | $248.8M | $241.1M | $224.7M | $204.1M | $187.8M | $174.2M | $169.3M | $150.6M |
| Operating income | $57.1M | $64.8M | $82.8M | $54.9M | $98.0M | $83.8M | $49.7M | $36.1M | $46.3M | -$47.9M |
| Interest expense | $521.0K | $418.0K | $421.0K | $579.0K | $602.0K | $864.0K | $1.9M | $3.3M | $4.5M | $2.4M |
| Pre-tax income | $69.4M | $79.4M | $89.3M | $57.9M | $98.5M | $85.2M | $51.1M | $33.9M | $42.2M | -$50.2M |
| Income tax | $13.0M | $9.8M | $6.9M | $7.1M | $14.6M | $6.7M | $11.7M | $70.1M | $1.3M | $43.6M |
| Net income | $54.4M | $69.6M | $82.4M | $50.7M | $83.9M | $78.5M | $39.3M | $104.0M | $40.9M | -$6.6M |
| EPS, basic | 0.70 | 0.90 | 1.06 | 0.65 | 1.08 | 1.02 | 0.52 | 1.42 | 0.57 | -0.10 |
| EPS, diluted | 0.69 | 0.89 | 1.05 | 0.65 | 1.06 | 0.99 | 0.51 | 1.38 | 0.55 | -0.10 |
| Shares, diluted (wtd. avg.) | 78.3M | 78.4M | 78.2M | 78.2M | 79.1M | 79.0M | 77.3M | 75.2M | 74.2M | 64.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $103.3M | $190.7M | $177.8M | $113.0M | $155.3M | $191.1M | $147.9M | $100.5M | $92.7M | $102.6M |
| Short-term investments | $171.8M | $169.3M | $150.5M | $129.0M | $125.1M | $67.8M | $76.3M | $50.5M | $49.0M | — |
| Receivables | $125.4M | $104.3M | $103.0M | $88.1M | $115.5M | $107.6M | $97.9M | $95.3M | $81.5M | $70.2M |
| Inventory | $110.9M | $101.7M | $111.7M | $123.2M | $111.5M | $99.2M | $83.3M | $77.7M | $67.8M | $59.8M |
| Total current assets | $557.1M | $605.1M | $573.8M | $474.6M | $524.0M | $487.1M | $419.0M | $337.8M | $305.9M | $254.7M |
| Property, plant and equipment | $259.1M | $210.2M | $204.4M | $189.8M | $146.6M | $104.1M | $58.7M | $54.1M | $46.8M | $42.7M |
| Goodwill | $216.0M | $199.2M | $201.1M | $211.4M | $212.3M | $212.8M | $199.2M | $189.2M | $189.9M | $188.0M |
| Other intangibles | $16.3M | $10.4M | $12.9M | $26.8M | $36.3M | $59.1M | $57.6M | $67.6M | $97.5M | $126.6M |
| Total assets | $1.22B | $1.15B | $1.11B | $1.01B | $1.02B | $963.2M | $839.9M | $728.2M | $646.6M | $619.0M |
| Accounts payable | $47.4M | $62.3M | $63.9M | $69.3M | $57.9M | $62.0M | $40.9M | $40.0M | $35.0M | $34.1M |
| Short-term debt | $1.1M | $1.1M | $1.1M | $1.0M | $8.9M | $9.5M | $42.8M | $29.8M | $18.4M | $12.7M |
| Total current liabilities | $123.9M | $131.3M | $131.1M | $149.7M | $148.8M | $154.6M | $136.6M | $102.5M | $92.2M | $82.7M |
| Long-term debt | $11.1M | $12.2M | $13.3M | $14.4M | $15.4M | $25.0M | $15.6M | $35.0M | $87.2M | $125.5M |
| Total liabilities | $189.0M | $198.4M | $198.0M | $199.9M | $204.7M | $219.1M | $198.9M | $148.1M | $187.9M | $217.9M |
| Retained earnings | $175.3M | $120.9M | $51.3M | -$31.1M | -$81.8M | -$165.7M | -$244.2M | -$283.6M | -$387.6M | -$428.6M |
| Total equity | $1.04B | $947.8M | $908.8M | $808.3M | $815.8M | $744.1M | $641.0M | $580.2M | $458.6M | $401.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $115.4M | $117.5M | $64.6M | $131.8M | $139.4M | $169.3M | $121.0M | $68.7M | $86.3M | $17.4M |
| Depreciation and amortisation | $37.6M | $32.9M | $37.5M | $28.6M | $25.8M | $20.7M | $17.2M | $14.3M | $13.6M | $11.4M |
| Stock-based compensation | $38.6M | $39.8M | $38.6M | $31.3M | $29.4M | $23.8M | $23.2M | $17.8M | $16.3M | $11.7M |
| Capital expenditure | $103.7M | $38.4M | $56.0M | $65.3M | $66.5M | $55.9M | $20.8M | $19.9M | $17.8M | $11.5M |
| Investing cash flow | -$191.5M | -$33.5M | $29.0M | -$75.7M | -$124.7M | -$98.9M | -$66.4M | -$21.3M | -$59.4M | -$205.5M |
| Financing cash flow | -$13.6M | -$64.6M | -$22.7M | -$95.9M | -$47.2M | -$30.9M | -$6.6M | -$39.3M | -$39.5M | $143.6M |
| Buybacks | $26.2M | $53.3M | $19.8M | $82.3M | $24.0M | $0 | $0 | $0 | $19.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001039399-26-000009.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $383.9M | $548.4M | $529.7M | $589.5M | $693.6M | $769.7M | $747.9M | $663.1M | $763.6M | $785.0M |
| Gross profit | $102.7M | $215.6M | $210.3M | $237.5M | $287.9M | $322.8M | $296.0M | $258.6M | $307.9M | $308.9M |
| Net income | -$6.6M | $40.9M | $104.0M | $39.3M | $78.5M | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Material impairment The company has written down the carrying value of an asset - often goodwill from an acquisition that did not work out. Item 2.06
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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