FORM

FormFactor Inc

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Advanced Chart

37.700

+2.47(7.011%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

37.900

Open

35.420

VWAP

37.28

Vol

1.54M

Mkt Cap

2.91B

Low

35.270

Amount

57.49M

EV/EBITDA(TTM)

32.32

Total Shares

77.17M

2.48B

EV/OCF(TTM)

23.60

P/S(TTM)

3.60

FormFactor, Inc. is a provider of essential test and measurement technologies along the full semiconductor product life cycle, from characterization, modeling, reliability, and design de-bug to qualification and production test. It provides a range of high-performance probe cards, analytical probes, probe stations, thermal systems, and cryogenic systems to both semiconductor companies and scientific institutions. Its 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. It operates in two segments: Probe Cards and the Systems. The Probe Cards segment includes sales of its probe cards and analytical probes. The Systems segment includes sales of its probe stations, thermal systems and cryogenic systems. Its customers include companies, universities and institutions that design or make semiconductor and semiconductor-related products.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2026Q1

FY2025Q4

FY2025Q3

192.62M

+12.41%

0.272

+18.12%

200.75M

+5.95%

0.292

+8.33%

199.97M

-3.82%

0.249

-28.93%

Estimates Revision

The market is revising Upward the revenue expectations for FormFactor, Inc. (FORM) for FY2025, with the revenue forecasts being adjusted by 0.38% over the past three months. During the same period, the stock price has changed by 13.83%.

Revenue Estimates for FY2025

Revise Upward

+0.38%

In Past 3 Month

EPS Estimates for FY2025

Revise Downward

-14.4%

In Past 3 Month

Stock Price

Go Up

+13.83%

In Past 3 Month

10 Analyst Rating

-15.44% Downside

Wall Street analysts forecast FORM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FORM is 31.88 USD with a low forecast of 23.00 USD and a high forecast of 35.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

2 Buy

8 Hold

0 Sell

Hold

-15.44% Downside

Current: 37.700

Low

23.00

Averages

31.88

High

35.00

-15.44% Downside

Current: 37.700

Low

23.00

Averages

31.88

High

35.00

Citi

Elizabeth Sun

Buy -> Neutral

downgrade

$36 -> $31

2025-08-21

Reason

Citi

Elizabeth Sun

Price Target

$36 -> $31

2025-08-21

downgrade

Buy -> Neutral

Reason

Citi analyst Elizabeth Sun downgraded FormFactor to Neutral from Buy with a price target of $31, down from $36, following a transfer of coverage. While the company is a beneficiary of growing advanced packaging demand, slow growth in the smartphone and PC markets are pressuring its sales and margins, the analyst tells investors in a research note. Citi cites softness in FormFactor's markets outside of artificial intelligence for the downgrade.

B. Riley

Craig Ellis

Neutral

maintain

$32 -> $40

2025-07-24

Reason

B. Riley

Craig Ellis

Price Target

$32 -> $40

2025-07-24

maintain

Neutral

Reason

B. Riley analyst Craig Ellis raised the firm's price target on FormFactor to $40 from $32 and keeps a Neutral rating on the shares. The firm sees the company's Q2 and Q3 consensus estimates as achievable but believes FormFactor faces risks from its Intel exposure.

B. Riley Securities

Craig Ellis

Strong Buy

Hold

Downgrades

$64 → $34

2025-02-06

Reason

B. Riley Securities

Craig Ellis

Price Target

$64 → $34

2025-02-06

Downgrades

Strong Buy

Hold

Reason

Needham

Charles Shi

Hold

Reiterates

n/a

2025-02-06

Reason

Needham

Charles Shi

Price Target

n/a

2025-02-06

Reiterates

Hold

Reason

Evercore ISI Group

Vedvati Shrotre

Hold

Maintains

$50 → $43

2025-02-06

Reason

Evercore ISI Group

Vedvati Shrotre

Price Target

$50 → $43

2025-02-06

Maintains

Hold

Reason

Stifel

Brian Chin

Hold

Maintains

$48 → $42

2025-02-06

Reason

Stifel

Brian Chin

Price Target

$48 → $42

2025-02-06

Maintains

Hold

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for FormFactor Inc (FORM.O) is 30.87, compared to its 5-year average forward P/E of 32.97. For a more detailed relative valuation and DCF analysis to assess FormFactor Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

32.97

Current PE

30.87

Overvalued PE

41.29

Undervalued PE

24.65

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Fair

5Y Average EV/EBITDA

20.01

Current EV/EBITDA

17.69

Overvalued EV/EBITDA

24.15

Undervalued EV/EBITDA

15.88

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

3.88

Current PS

3.40

Overvalued PS

4.62

Undervalued PS

3.15