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FormFactor, Inc. (FORM)

NEUTRAL
TechnologySemiconductor Equipment & MaterialsUnited States

ファンダメンタル

65

株価

$107.05

時価総額

$8.25B

パート1 · 企業の価値

概要

FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services in the United States, South Korea, Taiwan, China, Japan, Singapore, Europe, Malaysia, and internationally. The company operates in two segments: Probe Cards and Systems segments. The company provides probe cards to test various semiconductor device types, including systems- on-chip products, such as graphics, central, digital processing units, and other custom application-specific processing units; mobile application processors, microprocessors, and microcontrollers; network devices, which include switches and network processing units; dynamic random-access memory; radio-frequency amplifiers and filters; antenna-in-package devices; analog and mixed-signal integrated circuits; image sensors; co-packaged optical integrated circuits; NAND flash memory; NOR flash memory; and quantum computer processor devices. It also offers analytical probes, which are used for device characterization, electrical simulation model development, failure analysis, and prototype design debugging; probe stations, a critical tool for the development of new generations of semiconductor and electro-optical processes and designs; and thermal subsystems, which include thermal chucks and other test systems used in probe stations and other applications for precise temperature management. In addition, the company provides cryogenic systems, which includes the manufacture of precision cryogenic instruments and semiconductor test and measurement systems; and services and support, including installation services. Further, it offers on-site probe card maintenance and service training, seminars, and telephone support services. It markets and sells its products through direct sales force, manufacturers' representatives, and distributors. The company was incorporated in 1993 and is headquartered in Livermore, California.

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Direct competitors

Who this company fights with for the same customers

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貸借対照表と流動性

売上高

$902M

直近12か月(2026/6/27まで)

純利益

$115M

直近12か月(2026/6/27まで)

フリーキャッシュフロー

$12M

自己資本合計

$1.04B

負債合計

$189M

流動比率

4.08

利払い倍率

43.97

負債/EBITDA

0.16

一株当たり利益(EPS)

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

負債の重さ

成長率グリッド

成長率 — 売上高

適正価値の推定

割高

適正価値

$63.91

現在株価

$107.05

安全マージン

-67.5%

適正価値レンジ

$41.54 - $86.28

推定方法

Analyst Target:$138.63
DCF:$16.34
PE-based:$47.49
Graham Growth:$10.85
EPV:$10.12
アナリスト・コンセンサス:買い (10B / 6H / 0S)
直近の決算サプライズ:+31.92%

バリュエーション指標

P/E レシオ

73.90

ROE

5.3%

P/B レシオ

7.58

P/FCF

61.92

粗利益率

43.1%

ROIC

7.8%

収益性レーダー

Value Creation (Economic Moat)

ROIC

7.8%

WACC

11.3%

ROIC − WACC

-3.6 pp

ROIC is below the cost of capital — the company is destroying value for every dollar invested.

ファンダメンタル分析基準

合格(18)

  • EPS shows upward trend
  • Price CAGR 26.14%
  • ROIC 7.8%
  • Gross Margin 43.1%
  • Debt/Equity ratio
  • Operating Margin 12.9%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 11.0%
  • Analyst Consensus 63% Buy
  • Earnings Surprise avg 28.7%
  • Earnings Quality (OCF/NI) 1.56
  • Share Dilution 0.7%
  • Net Margin Trend 12.8% vs 5.7%
  • Piotroski F-Score 5/9

不合格(7)

  • P/FCF 61.92
  • P/B Ratio 7.58
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Revenue Growth 5Y 2.5%

データなし(2)

  • Dividend Payout NaN%
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-スコア

5/9

まちまちのシグナル:一部の領域に注意が必要

score
criteria

利益の質

1.56

高品質:利益はキャッシュに裏付けられている

株式希薄化

0.7%

株式数は安定している

ガバナンス

経営陣

氏名役職年齢
Dr. Michael D. Slessor Ph.D.CEO, President & Director-
Mr. Aric McKinnisSenior VP & CFO42
Ms. Missy FigueroaSenior Vice President of Global Operations-
Mr. Steven NottSenior VP & Chief Information Officer-
Mr. Stan FinkelsteinHead of Investor Relations-
Mr. Alan Lop-Gate ChanSenior VP, Chief Legal Officer & Corporate Secretary48
Ms. Aliza ScottSenior VP & Chief Human Resources Officer-
Mr. Aasutosh DaveSenior Vice President & Chief Commercial Officer-
Mr. Sudhakar RamanSenior VP & GM of Probes Business Unit-
Mr. Jens KlattenhoffSenior VP & GM of Systems Business Unit-

監査リスク

4

取締役会リスク

5

報酬リスク

3

株主権利リスク

4

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

Latest News

Recent headlines for FORM, sourced from Markets Gazette.

  • 3/27/2026NEUTRAL
    Here's How Much $100 Invested In FormFactor 10 Years Ago Would Be Worth Today

    An investment of $100 in FormFactor Inc. (FORM) ten years ago would have grown to approximately $1,050 today, representing a significant 950% return. This performance metric highlights the substantial long-term growth potential of the semiconductor equipment manufacturer. Investors considering FormFactor should note its historical ability to generate wealth, though past performance is not indicative of future results. The company operates in a cyclical industry, and its stock price can be influenced by broader market trends and semiconductor demand.

  • 2/21/2026NEGATIVE
    FormFactor Director Sells 3,000 Shares Before Retirement Announcement

    Seven board directors at FormFactor sold shares in February 2026, shortly before a retirement announcement. The sale of 3,000 shares by one director raises questions about potential insider sell-off signals. While executive stock sales can have various motivations, a coordinated sale by multiple board members might indicate a lack of confidence in the company's future prospects or preparation for upcoming events. Investors will be closely watching subsequent moves and company communications to better understand the context of these transactions.

via Markets Gazette