FormFactor (FORM) Financials

$117.20 -0.22 (-0.19%)

Closing price 04:00 PM Eastern

Extended Trading

$117.80 +0.59 (+0.51%)

As of 07:58 PM Eastern

Annual Income Statements for FormFactor

This table shows FormFactor's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Net Income / (Loss) Attributable to Common Shareholders	-1.52	-6.56	41	104	39	79	84	51	82	70	54
Consolidated Net Income / (Loss)	-1.52	-6.56	41	104	39	79	84	51	82	70	54
Net Income / (Loss) Continuing Operations	-1.52	-6.56	41	104	39	79	84	51	82	70	54
Total Pre-Tax Income	-1.27	-50	42	34	51	85	99	58	89	79	69
Total Operating Income	-4.10	-48	46	36	50	84	98	55	83	65	57
Total Gross Profit	86	103	216	210	237	288	323	296	259	308	309
Total Revenue	282	384	548	530	589	694	770	748	663	764	785
Operating Revenue	282	384	548	530	589	694	770	748	663	764	785
Total Cost of Revenue	197	281	333	319	352	406	447	452	405	456	476
Operating Cost of Revenue	197	281	333	319	352	406	447	452	405	456	476
Total Operating Expenses	90	151	169	174	188	204	225	241	249	264	252
Selling, General & Admin Expense	45	73	95	99	106	115	124	132	133	142	133
Research & Development Expense	44	57	74	75	81	89	101	109	116	122	116
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	0.00	-73	-21	3.03
Total Other Income / (Expense), net	2.83	-2.29	-4.10	-2.18	1.40	1.39	0.46	2.96	6.51	15	10
Interest Expense	0.00	2.39	4.49	3.31	1.92	0.86	0.60	0.58	0.42	0.42	0.52
Interest & Investment Income	0.28	0.33	0.55	1.36	2.71	1.50	0.57	2.22	7.22	14	8.61
Other Income / (Expense), net	2.55	-0.22	-0.15	-0.22	0.60	0.75	0.50	1.32	-0.29	0.94	2.20
Income Tax Expense	0.25	-44	1.29	-70	12	6.65	15	7.13	6.88	9.80	13
Basic Earnings per Share	($0.03)	($0.10)	$0.57	$1.42	$0.52	$1.02	$1.08	$0.65	$1.06	$0.90	$0.70
Weighted Average Basic Shares Outstanding	57.85M	64.94M	72.29M	73.48M	74.99M	76.68M	77.79M	77.58M	77.37M	77.34M	77.35M
Diluted Earnings per Share	($0.03)	($0.10)	$0.55	$1.38	$0.51	$0.99	$1.06	$0.65	$1.05	$0.89	$0.69
Weighted Average Diluted Shares Outstanding	57.85M	64.94M	74.24M	75.18M	77.29M	79.00M	79.13M	78.20M	78.16M	78.44M	78.31M
Weighted Average Basic & Diluted Shares Outstanding	57.85M	65.60M	71.80M	73.30M	76.15M	77.75M	78.33M	77.14M	77.60M	77.57M	77.92M

This table shows FormFactor's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	4.37	76	22	19	19	9.71	6.40	9.09	16	23	20
Consolidated Net Income / (Loss)	4.37	76	22	19	19	9.71	6.40	9.09	16	23	20
Net Income / (Loss) Continuing Operations	4.37	76	22	19	19	9.71	6.40	9.09	16	23	20
Total Pre-Tax Income	5.16	82	25	22	21	12	7.48	15	20	27	19
Total Operating Income	2.71	81	21	18	18	7.85	3.27	12	18	23	17
Total Gross Profit	69	68	63	87	85	74	65	73	81	91	87
Total Revenue	172	168	169	197	208	189	171	196	203	215	226
Operating Revenue	172	168	169	197	208	189	171	196	203	215	226
Total Cost of Revenue	102	100	106	111	123	116	107	123	122	124	139
Operating Cost of Revenue	102	100	106	111	123	116	107	123	122	124	139
Total Operating Expenses	67	60	62	69	67	66	61	61	63	67	70
Selling, General & Admin Expense	36	31	33	38	36	35	33	32	33	35	32
Research & Development Expense	31	28	29	32	31	31	28	29	29	30	31
Other Operating Expenses / (Income)	0.00	-73	-20	-	0.00	-	-	-	0.96	-	7.07
Total Other Income / (Expense), net	2.45	0.83	3.68	4.09	3.09	3.78	4.21	-0.85	3.59	3.35	4.13
Interest Expense	-1.66	4.84	-3.16	-3.42	-3.65	11	-3.32	-2.64	-1.98	8.46	-2.17
Interest & Investment Income	-	-	-	0.00	0.00	-	0.00	-3.48	1.17	-	1.52
Other Income / (Expense), net	0.79	-1.55	0.52	0.67	-0.56	0.31	0.89	-0.01	0.44	0.87	0.44
Income Tax Expense	0.79	6.25	3.20	2.16	2.21	2.23	1.08	2.37	5.94	3.62	0.40
Basic Earnings per Share	$0.06	$0.97	$0.28	$0.25	$0.24	$0.13	$0.08	$0.12	$0.20	$0.30	$0.26
Weighted Average Basic Shares Outstanding	77.57M	77.37M	77.45M	77.24M	77.41M	77.34M	77.35M	77.11M	77.39M	77.35M	77.83M
Diluted Earnings per Share	$0.06	$0.96	$0.28	$0.25	$0.24	$0.12	$0.08	$0.12	$0.20	$0.29	$0.26
Weighted Average Diluted Shares Outstanding	78.41M	78.16M	78.49M	78.72M	78.44M	78.44M	77.88M	77.53M	77.73M	78.31M	79.42M
Weighted Average Basic & Diluted Shares Outstanding	77.84M	77.60M	77.17M	77.39M	77.45M	77.57M	77.08M	77.11M	77.52M	77.92M	77.95M

This table details how cash moves in and out of FormFactor's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Net Change in Cash & Equivalents	32	-44	-9.87	7.82	47	43	-36	-42	68	16	-90
Net Cash From Operating Activities	36	17	86	69	121	169	139	132	65	118	115
Net Cash From Continuing Operating Activities	36	17	86	69	121	169	139	132	65	118	115
Net Income / (Loss) Continuing Operations	-1.52	-6.56	41	104	39	79	84	51	82	70	54
Consolidated Net Income / (Loss)	-1.52	-6.56	41	104	39	79	84	51	82	70	54
Depreciation Expense	11	11	14	14	17	21	26	29	37	33	38
Amortization Expense	13	46	32	30	28	29	20	10	-2.33	-3.24	-1.98
Non-Cash Adjustments To Reconcile Net Income	17	31	24	29	40	43	56	67	-8.58	40	66
Changes in Operating Assets and Liabilities, net	-3.41	-64	-25	-108	-3.29	-1.58	-46	-25	-44	-22	-41
Net Cash From Investing Activities	1.13	-206	-59	-21	-66	-99	-125	-76	29	-33	-191
Net Cash From Continuing Investing Activities	1.13	-206	-59	-21	-66	-99	-125	-76	29	-33	-191
Purchase of Property, Plant & Equipment	-8.64	-12	-18	-20	-21	-56	-66	-65	-56	-38	-104
Acquisitions	0.00	-228	0.00	0.00	-21	-52	0.00	-3.35	0.00	0.00	-88
Purchase of Investments	-66	-11	-51	-31	-76	-51	-150	-102	-135	-139	-126
Divestitures	0.05	0.05	0.07	0.09	0.13	0.08	0.00	0.00	102	22	0.10
Sale and/or Maturity of Investments	75	45	9.00	29	51	60	92	96	119	124	126
Other Investing Activities, net	0.00	-	-	-	-	0.00	0.00	-1.00	0.00	-1.50	0.00
Net Cash From Financing Activities	-4.79	144	-39	-39	-6.58	-31	-47	-96	-23	-65	-14
Net Cash From Continuing Financing Activities	-4.79	144	-39	-39	-6.58	-31	-47	-96	-23	-65	-14
Repayment of Debt	0.00	-12	-33	-41	-30	-43	-9.34	-8.40	-1.05	-1.08	-1.11
Repurchase of Common Equity	-8.21	0.00	-19	-	0.00	0.00	-24	-82	-20	-53	-26
Issuance of Common Equity	3.42	5.75	20	7.71	8.09	10	11	10	8.82	9.75	26
Other Financing Activities, net	0.00	0.00	-6.89	-5.79	-8.03	-15	-24	-16	-11	-20	-12
Effect of Exchange Rate Changes	-0.14	0.40	2.70	-0.26	-0.73	3.76	-	-2.51	-2.65	-3.51	-0.46
Cash Interest Paid	0.00	2.11	3.84	3.11	1.41	0.87	0.64	0.54	0.42	0.39	0.36
Cash Income Taxes Paid	0.03	2.57	3.17	4.58	4.32	9.15	7.96	11	17	16	8.93

This table details how cash moves in and out of FormFactor's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
Net Change in Cash & Equivalents	14	82	13	9.57	-13	6.72	-64	-62	30	5.94	19
Net Cash From Operating Activities	21	9.25	33	22	27	36	24	19	27	46	45
Net Cash From Continuing Operating Activities	21	27	33	22	27	36	24	19	27	46	45
Net Income / (Loss) Continuing Operations	4.37	76	22	19	19	9.71	6.40	9.09	16	23	20
Consolidated Net Income / (Loss)	4.37	76	22	19	19	9.71	6.40	9.09	16	23	20
Depreciation Expense	7.76	7.72	7.19	7.37	7.63	8.12	8.83	8.90	11	9.43	9.17
Non-Cash Adjustments To Reconcile Net Income	15	-50	-5.31	15	15	16	17	18	11	20	29
Changes in Operating Assets and Liabilities, net	-7.57	-4.52	8.70	-20	-15	4.55	-8.27	-18	-15	0.11	-14
Net Cash From Investing Activities	-1.53	79	-3.82	-6.14	-16	-7.33	-85	-79	6.72	-35	-23
Net Cash From Continuing Investing Activities	-1.53	79	-3.82	-6.14	-16	-7.33	-85	-79	6.72	-35	-23
Purchase of Property, Plant & Equipment	-5.92	-9.93	-13	-8.40	-8.94	-7.66	-19	-66	-7.51	-11	-15
Acquisitions	-	-	0.00	-	-	-	-67	-	-	-21	0.00
Purchase of Investments	-30	-39	-37	-41	-31	-29	-26	-47	-22	-31	-37
Divestitures	-	102	21	0.31	-	-	0.00	0.10	-	-	0.08
Sale and/or Maturity of Investments	35	26	26	43	25	30	27	35	36	28	29
Net Cash From Financing Activities	-5.36	-21	-14	-4.93	-27	-18	-2.96	-4.21	-2.38	-4.07	-1.20
Net Cash From Continuing Financing Activities	-5.36	-21	-14	-4.93	-27	-18	-2.96	-4.21	-2.38	-4.07	-1.20
Repayment of Debt	-0.26	-0.26	-0.27	-0.27	-0.27	-0.27	-0.27	-0.28	-0.28	-0.28	-0.28
Repurchase of Common Equity	-	-20	-17	-2.94	-17	-16	-22	-2.45	-1.66	-	0.00
Issuance of Common Equity	3.80	-	4.95	-	4.80	-	22	-	4.54	-	5.84
Other Financing Activities, net	-8.89	-1.34	-1.84	-1.73	-14	-1.99	-2.13	-1.49	-4.99	-3.79	-6.75
Effect of Exchange Rate Changes	-	-	-1.59	-1.23	2.83	-3.51	0.18	1.48	-1.12	-0.99	-0.96
Cash Interest Paid	0.11	0.11	0.10	0.10	0.10	0.09	0.09	0.10	0.09	0.09	0.09
Cash Income Taxes Paid	2.64	5.32	1.42	5.50	6.19	2.47	1.83	3.62	2.17	1.32	1.04

This table presents FormFactor's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Total Assets	343	619	647	728	840	963	1,021	1,008	1,107	1,146	1,224
Total Current Assets	258	255	306	338	419	487	524	475	574	605	557
Cash & Equivalents	146	101	91	98	145	187	151	109	178	191	103
Restricted Cash	0.00	0.11	0.37	0.85	1.98	1.90	2.23	1.22	1.15	3.75	1.06
Short-Term Investments	41	7.50	49	51	76	68	125	129	151	169	172
Accounts Receivable	37	70	82	95	98	108	116	88	103	104	125
Inventories, net	27	60	68	78	83	99	112	123	112	102	111
Prepaid Expenses	6.48	14	14	15	15	23	19	24	30	35	45
Plant, Property, & Equipment, net	24	43	47	54	59	104	147	190	204	210	259
Total Noncurrent Assets	61	322	294	336	362	372	350	344	329	331	408
Long-Term Investments	-	-	-	-	-	-	-	-	-	0.00	64
Goodwill	31	188	190	189	199	213	212	211	201	199	216
Intangible Assets	26	127	97	68	58	59	36	27	13	10	16
Noncurrent Deferred & Refundable Income Taxes	3.28	3.31	3.13	77	71	66	62	68	79	92	90
Other Noncurrent Operating Assets	0.85	2.60	2.26	0.97	33	32	37	35	33	27	20
Other Noncurrent Nonoperating Assets	0.44	1.08	1.17	1.23	1.41	1.97	2.10	2.63	2.31	2.73	2.65
Total Liabilities & Shareholders' Equity	343	619	647	728	840	963	1,021	1,008	1,107	1,146	1,224
Total Liabilities	48	218	188	148	199	219	205	200	198	198	189
Total Current Liabilities	44	83	92	103	137	155	149	150	131	131	124
Short-Term Debt	0.00	13	18	30	43	9.52	8.93	1.05	1.08	1.11	1.14
Accounts Payable	18	34	35	40	41	62	58	69	64	62	47
Accrued Expenses	22	30	34	28	36	55	51	42	41	44	48
Current Deferred Revenue	3.89	5.31	4.98	4.94	9.81	21	23	30	17	16	20
Other Current Liabilities	-	-	-	0.00	6.55	6.70	7.90	7.35	8.42	8.36	7.66
Total Noncurrent Liabilities	4.46	135	96	46	62	65	56	50	67	67	65
Long-Term Debt	-	125	87	35	16	25	15	14	13	12	11
Noncurrent Deferred Revenue	4.46	6.04	5.17	8.21	11	6.24	5.92	5.57	10	19	22
Noncurrent Deferred & Payable Income Tax Liabilities	-	3.70	3.38	2.36	6.99	5.35	3.62	2.73	-	0.00	1.60
Other Noncurrent Operating Liabilities	-	-	-	0.00	29	28	31	28	43	36	30
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	295	401	459	580	641	744	816	808	909	948	1,035
Total Preferred & Common Equity	295	401	459	580	641	744	816	808	909	948	1,035
Total Common Equity	295	401	459	580	641	744	816	808	909	948	1,035
Common Stock	719	833	843	863	886	904	899	845	862	838	864
Retained Earnings	-422	-429	-388	-284	-244	-166	-82	-31	51	121	175
Accumulated Other Comprehensive Income / (Loss)	-2.22	-3.74	3.02	0.78	-0.66	5.89	-1.45	-5.58	-4.05	-11	-3.53

This table presents FormFactor's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/24/2022	4/1/2023	7/1/2023	9/30/2023	3/30/2024	6/29/2024	9/28/2024	3/29/2025	6/28/2025	9/27/2025	3/28/2026
Total Assets	1,022	1,020	1,025	1,033	1,120	1,156	1,154	1,156	1,182	1,203	1,256
Total Current Assets	516	481	478	507	588	621	615	551	525	559	601
Cash & Equivalents	121	112	98	109	186	196	185	130	67	98	124
Restricted Cash	1.26	1.21	1.14	1.17	5.87	5.94	3.77	0.97	1.06	1.06	0.90
Short-Term Investments	131	124	139	136	163	162	170	169	182	168	180
Accounts Receivable	110	104	94	89	96	113	117	99	115	133	132
Inventories, net	132	117	120	112	109	115	105	110	111	109	113
Prepaid Expenses	21	23	26	27	28	29	34	43	49	50	52
Plant, Property, & Equipment, net	163	198	205	204	206	204	204	208	259	258	248
Total Noncurrent Assets	343	341	342	323	326	332	335	397	397	386	407
Long-Term Investments	-	-	-	-	-	-	-	69	67	66	64
Goodwill	209	212	212	200	200	200	200	200	201	201	215
Intangible Assets	28	24	22	14	12	12	11	9.68	9.02	8.39	15
Noncurrent Deferred & Refundable Income Taxes	68	68	71	74	80	89	93	93	95	88	91
Other Noncurrent Operating Assets	36	34	35	33	31	29	29	23	23	20	19
Other Noncurrent Nonoperating Assets	1.84	2.29	2.27	2.15	2.22	2.10	2.21	2.45	2.46	2.38	2.01
Total Liabilities & Shareholders' Equity	1,022	1,020	1,025	1,033	1,120	1,156	1,154	1,156	1,182	1,203	1,256
Total Liabilities	214	195	191	192	196	208	199	190	192	193	197
Total Current Liabilities	164	128	124	130	131	139	129	124	124	130	132
Short-Term Debt	2.73	1.14	1.15	1.07	1.08	1.09	1.10	1.11	1.12	1.13	1.15
Accounts Payable	75	64	64	62	66	62	52	65	60	58	54
Accrued Expenses	46	32	31	36	38	50	47	35	39	42	42
Current Deferred Revenue	32	24	20	14	18	18	21	15	16	22	26
Other Current Liabilities	7.70	7.51	7.87	8.01	8.25	8.24	8.51	8.46	7.92	7.40	8.33
Total Noncurrent Liabilities	50	67	67	63	65	69	70	66	68	63	65
Long-Term Debt	15	14	14	14	13	13	12	12	12	11	11
Noncurrent Deferred Revenue	5.56	5.87	5.85	5.75	11	17	19	20	23	21	23
Noncurrent Deferred & Payable Income Tax Liabilities	2.23	2.91	2.70	0.32	-	-	-	-	-	-	1.57
Other Noncurrent Operating Liabilities	28	44	44	43	41	39	38	34	33	31	30
Redeemable Noncontrolling Interest	-	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	808	824	834	841	924	948	955	966	990	1,010	1,059
Total Preferred & Common Equity	808	824	834	841	924	948	955	966	990	1,010	1,059
Total Common Equity	808	824	834	841	924	948	955	966	990	1,010	1,059
Common Stock	844	858	868	874	857	863	846	845	850	857	871
Retained Earnings	-17	-30	-29	-25	73	93	111	127	136	152	196
Accumulated Other Comprehensive Income / (Loss)	-18	-4.19	-4.45	-8.51	-6.77	-7.95	-1.77	-6.04	3.45	0.05	-7.66

This table displays calculated financial ratios and metrics derived from FormFactor's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/26/2015	12/31/2016	12/30/2017	12/29/2018	12/28/2019	12/26/2020	12/25/2021	12/31/2022	12/30/2023	12/28/2024	12/27/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.15%	35.96%	42.87%	-3.42%	11.29%	17.67%	10.97%	-2.82%	-11.34%	15.16%	2.80%
EBITDA Growth	115.56%	-59.63%	925.55%	-13.04%	19.30%	40.55%	7.55%	-34.16%	23.89%	-18.89%	-0.52%
EBIT Growth	92.38%	-2,997.23%	195.88%	-22.24%	40.07%	68.19%	16.55%	-42.93%	46.67%	-20.31%	-9.81%
NOPAT Growth	80.04%	-1,067.61%	233.84%	146.70%	-65.44%	101.86%	8.14%	-42.36%	58.64%	-25.65%	-18.34%
Net Income Growth	92.06%	-330.53%	723.96%	154.29%	-62.18%	99.57%	6.88%	-39.54%	62.38%	-15.50%	-21.91%
EPS Growth	91.18%	-233.33%	650.00%	150.91%	-63.04%	94.12%	7.07%	-38.68%	61.54%	-15.24%	-22.47%
Operating Cash Flow Growth	104.55%	-51.77%	395.45%	-20.42%	76.20%	39.83%	-17.66%	-5.44%	-50.98%	81.94%	-1.82%
Free Cash Flow Firm Growth	1,571.62%	-2,095.29%	114.45%	-23.34%	44.45%	-42.42%	32.51%	-39.79%	154.94%	-19.61%	-218.74%
Invested Capital Growth	-16.26%	302.35%	-1.53%	16.87%	-3.78%	9.35%	7.71%	3.93%	1.66%	0.54%	18.51%
Revenue Q/Q Growth	0.18%	15.71%	1.48%	1.73%	6.84%	2.73%	1.04%	-4.96%	0.33%	2.87%	3.38%
EBITDA Q/Q Growth	9.65%	-24.52%	18.41%	9.27%	10.60%	2.93%	4.39%	-33.69%	357.43%	-43.09%	22.54%
EBIT Q/Q Growth	60.83%	-38.69%	72.84%	22.90%	32.00%	-3.05%	12.33%	-46.39%	703.52%	-52.13%	37.63%
NOPAT Q/Q Growth	38.81%	-40.33%	91.24%	306.00%	-63.32%	0.89%	8.89%	-45.23%	854.62%	-54.73%	42.06%
Net Income Q/Q Growth	45.12%	-179.32%	105.78%	324.22%	-62.81%	0.82%	8.57%	-43.85%	1,246.49%	-48.72%	33.08%
EPS Q/Q Growth	40.00%	-162.50%	161.90%	331.25%	-63.57%	0.00%	8.16%	-42.98%	1,412.50%	-48.55%	32.69%
Operating Cash Flow Q/Q Growth	-12.84%	85.17%	15.40%	-5.37%	14.26%	4.56%	-4.21%	-12.13%	-15.10%	29.34%	9.55%
Free Cash Flow Firm Q/Q Growth	-12.86%	3.52%	15.86%	-5.46%	-11.58%	10.25%	15.78%	-57.72%	409.76%	-46.21%	-40.21%
Invested Capital Q/Q Growth	-2.38%	-5.56%	-2.51%	17.86%	3.54%	2.74%	2.71%	1.88%	1.55%	-2.23%	2.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.37%	26.75%	39.31%	39.71%	40.29%	41.51%	41.94%	39.58%	39.00%	40.33%	39.34%
EBITDA Margin	7.86%	2.34%	16.76%	15.09%	16.18%	19.33%	18.73%	12.69%	17.73%	12.49%	12.09%
Operating Margin	-1.45%	-12.48%	8.44%	6.82%	8.42%	12.08%	12.74%	7.34%	12.48%	8.48%	7.27%
EBIT Margin	-0.55%	-12.54%	8.41%	6.77%	8.53%	12.19%	12.80%	7.52%	12.44%	8.61%	7.55%
Profit (Net Income) Margin	-0.54%	-1.71%	7.46%	19.64%	6.67%	11.32%	10.90%	6.78%	12.42%	9.12%	6.93%
Tax Burden Percent	119.83%	13.06%	96.94%	306.65%	77.05%	92.19%	85.20%	87.68%	92.29%	87.66%	78.34%
Interest Burden Percent	81.79%	104.29%	91.46%	94.54%	101.59%	100.75%	99.97%	102.92%	108.24%	120.84%	117.07%
Effective Tax Rate	0.00%	0.00%	3.06%	-206.65%	22.95%	7.81%	14.80%	12.32%	7.71%	12.34%	18.74%
Return on Invested Capital (ROIC)	-2.45%	-12.52%	10.54%	24.16%	7.90%	15.53%	15.48%	8.44%	13.02%	9.58%	7.14%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.23%	-46.25%	110.28%	35.10%	7.04%	14.87%	15.31%	7.36%	10.81%	5.75%	4.80%
Return on Net Nonoperating Assets (RNNOA)	1.93%	10.63%	-1.02%	-4.13%	-1.45%	-4.19%	-4.72%	-2.19%	-3.42%	-2.08%	-1.66%
Return on Equity (ROE)	-0.52%	-1.88%	9.52%	20.03%	6.44%	11.34%	10.76%	6.25%	9.60%	7.50%	5.48%
Cash Return on Invested Capital (CROIC)	15.25%	-132.89%	12.08%	8.60%	11.75%	6.59%	8.05%	4.58%	11.37%	9.04%	-9.80%
Operating Return on Assets (OROA)	-0.45%	-10.01%	7.29%	5.22%	6.41%	9.38%	9.93%	5.54%	7.80%	5.83%	5.00%
Return on Assets (ROA)	-0.44%	-1.36%	6.47%	15.13%	5.02%	8.71%	8.46%	5.00%	7.79%	6.18%	4.59%
Return on Common Equity (ROCE)	-0.52%	-1.88%	9.52%	20.03%	6.44%	11.34%	10.76%	6.25%	9.60%	7.50%	5.48%
Return on Equity Simple (ROE_SIMPLE)	-0.52%	-1.63%	8.92%	17.93%	6.14%	10.55%	10.29%	6.28%	9.07%	7.35%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.87	-34	45	111	38	77	84	48	76	57	46
NOPAT Margin	-1.02%	-8.74%	8.18%	20.90%	6.49%	11.14%	10.85%	6.44%	11.52%	7.44%	5.91%
Net Nonoperating Expense Percent (NNEP)	0.77%	33.73%	-99.74%	-10.94%	0.86%	0.66%	0.16%	1.07%	2.21%	3.83%	2.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.84%	8.27%	5.91%	4.43%
Cost of Revenue to Revenue	69.64%	73.25%	60.69%	60.29%	59.71%	58.49%	58.06%	60.42%	61.00%	59.67%	60.66%
SG&A Expenses to Revenue	15.97%	19.13%	17.41%	18.74%	18.04%	16.59%	16.08%	17.63%	20.06%	18.57%	16.95%
R&D to Revenue	15.65%	14.97%	13.46%	14.16%	13.83%	12.84%	13.11%	14.60%	17.46%	15.97%	14.74%
Operating Expenses to Revenue	31.82%	39.23%	30.87%	32.89%	31.87%	29.43%	29.20%	32.23%	37.52%	34.54%	32.07%
Earnings before Interest and Taxes (EBIT)	-1.55	-48	46	36	50	85	99	56	82	66	59
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	22	8.97	92	80	95	134	144	95	118	95	95
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.80	1.98	2.49	1.79	3.08	4.43	4.27	2.12	3.57	3.75	4.35
Price to Tangible Book Value (P/TBV)	2.22	9.17	6.67	3.21	5.13	6.98	6.14	3.00	4.67	4.82	5.60
Price to Revenue (P/Rev)	1.88	2.06	2.08	1.96	3.34	4.75	4.52	2.29	4.90	4.66	5.73
Price to Earnings (P/E)	0.00	0.00	27.92	9.98	50.10	41.96	41.48	33.75	39.41	51.09	82.79
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	3.58%	10.02%	2.00%	2.38%	2.41%	2.96%	2.54%	1.96%	1.21%
Enterprise Value to Invested Capital (EV/IC)	3.21	1.91	2.62	1.93	3.80	5.91	5.77	2.56	4.96	5.39	5.92
Enterprise Value to Revenue (EV/Rev)	1.21	2.14	2.02	1.80	3.07	4.43	4.19	1.99	4.42	4.20	5.32
Enterprise Value to EBITDA (EV/EBITDA)	15.41	91.64	12.04	11.92	18.94	22.92	22.38	15.68	24.93	33.61	43.97
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	23.99	26.56	35.95	36.35	32.75	26.47	35.55	48.78	70.40
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	24.67	8.61	47.22	39.78	38.63	30.91	38.38	56.46	89.97
Enterprise Value to Operating Cash Flow (EV/OCF)	9.47	47.15	12.83	13.87	14.93	18.15	23.16	11.29	45.38	27.28	36.16
Enterprise Value to Free Cash Flow (EV/FCFF)	19.18	0.00	21.53	24.18	31.73	93.70	74.27	56.89	43.96	59.79	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.34	0.23	0.11	0.09	0.05	0.03	0.02	0.02	0.01	0.01
Long-Term Debt to Equity	0.00	0.31	0.19	0.06	0.02	0.03	0.02	0.02	0.01	0.01	0.01
Financial Leverage	-0.60	-0.23	-0.01	-0.12	-0.21	-0.28	-0.31	-0.30	-0.32	-0.36	-0.34
Leverage Ratio	1.18	1.38	1.47	1.32	1.28	1.30	1.27	1.25	1.23	1.21	1.20
Compound Leverage Factor	0.96	1.44	1.35	1.25	1.30	1.31	1.27	1.29	1.33	1.47	1.40
Debt to Total Capital	0.00%	25.62%	18.73%	10.05%	8.36%	4.43%	2.90%	1.87%	1.56%	1.39%	1.17%
Short-Term Debt to Total Capital	0.00%	2.36%	3.27%	4.63%	6.13%	1.22%	1.06%	0.13%	0.12%	0.12%	0.11%
Long-Term Debt to Total Capital	0.00%	23.27%	15.46%	5.42%	2.24%	3.21%	1.84%	1.75%	1.44%	1.27%	1.06%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	74.38%	81.27%	89.95%	91.64%	95.57%	97.10%	98.13%	98.44%	98.61%	98.83%
Debt to EBITDA	0.00	15.41	1.15	0.81	0.61	0.26	0.17	0.16	0.12	0.14	0.13
Net Debt to EBITDA	0.00	3.25	-0.38	-1.06	-1.72	-1.66	-1.76	-2.36	-2.68	-3.67	-3.46
Long-Term Debt to EBITDA	0.00	14.00	0.95	0.44	0.16	0.19	0.11	0.15	0.11	0.13	0.12
Debt to NOPAT	0.00	-4.12	2.35	0.59	1.53	0.45	0.29	0.32	0.19	0.23	0.26
Net Debt to NOPAT	0.00	-0.87	-0.78	-0.77	-4.30	-2.88	-3.04	-4.65	-4.13	-6.17	-7.08
Long-Term Debt to NOPAT	0.00	-3.74	1.94	0.32	0.41	0.32	0.18	0.30	0.17	0.22	0.24
Altman Z-Score	6.45	1.91	4.29	4.94	6.84	10.21	11.60	6.41	11.23	12.25	15.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.92	3.08	3.32	3.30	3.07	3.15	3.52	3.17	4.38	4.61	4.50
Quick Ratio	5.15	2.17	2.41	2.38	2.33	2.35	2.63	2.18	3.29	3.54	3.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	18	-356	51	39	57	33	43	26	67	54	-64
Operating Cash Flow to CapEx	485.51%	151.93%	486.16%	346.17%	580.65%	302.97%	209.58%	201.96%	115.31%	305.79%	111.33%
Free Cash Flow to Firm to Interest Expense	0.00	-148.90	11.45	11.90	29.74	37.95	72.18	45.18	158.42	128.28	-122.21
Operating Cash Flow to Interest Expense	0.00	7.29	19.22	20.73	63.21	195.90	231.50	227.61	153.45	281.18	221.49
Operating Cash Flow Less CapEx to Interest Expense	0.00	2.49	15.27	14.74	52.32	131.24	121.04	114.91	20.37	189.23	22.53
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.80	0.87	0.77	0.75	0.77	0.78	0.74	0.63	0.68	0.66
Accounts Receivable Turnover	6.90	7.18	7.23	5.99	6.10	6.75	6.90	7.34	6.94	7.37	6.83
Inventory Turnover	7.45	6.46	5.21	4.39	4.37	4.45	4.24	3.85	3.45	4.27	4.48
Fixed Asset Turnover	11.44	11.54	12.27	10.51	10.45	8.52	6.14	4.45	3.36	3.68	3.35
Accounts Payable Turnover	10.26	10.78	9.63	8.51	8.70	7.88	7.45	7.11	6.08	7.22	8.68
Days Sales Outstanding (DSO)	52.92	50.84	50.49	60.93	59.82	54.06	52.91	49.70	52.59	49.53	53.40
Days Inventory Outstanding (DIO)	48.98	56.48	69.99	83.18	83.46	82.09	86.07	94.78	105.95	85.45	81.47
Days Payable Outstanding (DPO)	35.59	33.84	37.90	42.89	41.96	46.32	48.97	51.35	60.08	50.52	42.06
Cash Conversion Cycle (CCC)	66.31	73.48	82.59	101.22	101.32	89.84	90.02	93.13	98.47	84.46	92.82
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	107	429	423	494	475	520	560	582	591	595	705
Invested Capital Turnover	2.41	1.43	1.29	1.16	1.22	1.39	1.43	1.31	1.13	1.29	1.21
Increase / (Decrease) in Invested Capital	-21	322	-6.55	71	-19	44	40	22	9.68	3.17	110
Enterprise Value (EV)	342	822	1,107	953	1,807	3,073	3,227	1,488	2,932	3,206	4,173
Market Capitalization	530	792	1,142	1,038	1,971	3,295	3,481	1,712	3,247	3,557	4,501
Book Value per Share	$5.07	$5.67	$6.28	$7.83	$8.47	$9.62	$10.43	$10.49	$11.68	$12.24	$13.36
Tangible Book Value per Share	$4.10	$1.22	$2.35	$4.36	$5.08	$6.10	$7.25	$7.40	$8.93	$9.53	$10.36
Total Capital	295	539	564	645	699	779	840	824	923	961	1,048
Total Debt	0.00	138	106	65	58	34	24	15	14	13	12
Total Long-Term Debt	0.00	125	87	35	16	25	15	14	13	12	11
Net Debt	-188	29	-35	-85	-164	-222	-254	-224	-315	-350	-328
Capital Expenditures (CapEx)	7.44	11	18	20	21	56	66	65	56	38	104
Debt-free, Cash-free Net Working Capital (DFCFNWC)	27	76	92	115	102	85	106	87	114	111	158
Debt-free Net Working Capital (DFNWC)	214	185	232	265	325	342	384	326	444	475	434
Net Working Capital (NWC)	214	172	214	235	282	333	375	325	443	474	433
Net Nonoperating Expense (NNE)	-1.35	-27	3.97	6.69	-1.08	-1.28	-0.39	-2.59	-6.01	-13	-7.99
Net Nonoperating Obligations (NNO)	-188	28	-36	-86	-166	-224	-256	-227	-317	-353	-331
Total Depreciation and Amortization (D&A)	24	57	46	44	45	50	46	39	35	30	36
Debt-free, Cash-free Net Working Capital to Revenue	9.51%	19.72%	16.70%	21.77%	17.38%	12.27%	13.76%	11.57%	17.24%	14.55%	20.14%
Debt-free Net Working Capital to Revenue	75.95%	48.11%	42.33%	50.06%	55.19%	49.31%	49.92%	43.58%	66.92%	62.19%	55.33%
Net Working Capital to Revenue	75.95%	44.81%	38.96%	44.42%	47.92%	47.94%	48.76%	43.44%	66.76%	62.05%	55.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$1.02	$1.08	$0.65	$1.06	$0.90	$0.70
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	76.68M	77.79M	77.58M	77.37M	77.34M	77.35M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.99	$1.06	$0.65	$1.05	$0.89	$0.69
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	79.00M	79.13M	78.20M	78.16M	78.44M	78.31M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	77.75M	78.33M	77.14M	77.60M	77.57M	77.92M
Normalized Net Operating Profit after Tax (NOPAT)	-2.48	-20	45	25	38	77	84	48	76	57	46
Normalized NOPAT Margin	-0.88%	-5.15%	8.18%	4.77%	6.49%	11.14%	10.85%	6.44%	11.52%	7.44%	5.91%
Pre Tax Income Margin	-0.45%	-13.08%	7.70%	6.41%	8.66%	12.28%	12.80%	7.74%	13.46%	10.40%	8.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-20.13	10.28	10.83	26.25	97.84	163.68	97.11	195.89	157.22	113.77
NOPAT to Interest Expense	0.00	-14.03	9.99	33.41	19.98	89.40	138.75	83.15	181.42	135.85	89.01
EBIT Less CapEx to Interest Expense	0.00	-24.93	6.32	4.84	15.36	33.19	53.22	-15.59	62.81	65.27	-85.19
NOPAT Less CapEx to Interest Expense	0.00	-18.82	6.04	27.42	9.10	24.74	28.30	-29.55	48.34	43.90	-109.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-539.07%	0.00%	46.37%	0.00%	0.00%	0.00%	28.64%	162.26%	24.03%	76.57%	48.28%

This table displays calculated financial ratios and metrics derived from FormFactor's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/30/2023	3/30/2024	6/29/2024	9/28/2024	12/28/2024	3/29/2025	6/28/2025	9/27/2025	12/27/2025	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	77,917,947.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	77,917,947.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.26
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.14%	1.31%	0.76%	26.65%	21.18%	12.68%	1.56%	-0.85%	-2.52%	13.55%	31.97%
EBITDA Growth	-13.37%	1,541.24%	194.56%	191.61%	104.06%	-84.05%	-56.20%	-17.36%	24.57%	56.93%	102.18%
EBIT Growth	-31.04%	585.77%	19,042.98%	2,239.44%	394.91%	-89.77%	-80.94%	-33.30%	6.66%	198.69%	310.89%
NOPAT Growth	-26.34%	772.66%	21,042.88%	1,012.85%	596.05%	-91.50%	-84.93%	-35.28%	-20.03%	217.92%	482.57%
Net Income Growth	0.46%	652.53%	1,523.03%	2,242.03%	328.64%	-87.20%	-70.61%	-53.15%	-16.44%	139.24%	218.45%
EPS Growth	0.00%	664.71%	1,300.00%	2,400.00%	300.00%	-87.50%	-71.43%	-52.00%	-16.67%	141.67%	225.00%
Operating Cash Flow Growth	-15.16%	-55.40%	168.19%	-2.64%	29.95%	288.25%	-28.70%	-13.64%	0.97%	28.02%	91.01%
Free Cash Flow Firm Growth	60.20%	297.31%	219.79%	192.11%	-7.21%	-95.09%	-164.69%	-365.26%	-568.01%	-2,893.48%	-211.80%
Invested Capital Growth	2.00%	1.66%	-3.20%	-2.09%	4.42%	0.54%	4.69%	14.52%	12.83%	18.51%	15.21%
Revenue Q/Q Growth	10.04%	-1.99%	0.33%	17.04%	5.29%	-8.87%	-9.57%	14.26%	3.51%	6.16%	5.10%
EBITDA Q/Q Growth	38.14%	585.72%	-65.49%	-10.80%	-3.33%	-46.41%	-5.21%	68.30%	53.01%	-20.51%	-1.23%
EBIT Q/Q Growth	505.45%	2,181.09%	-72.63%	-15.49%	-6.21%	-52.84%	-49.01%	195.74%	49.99%	32.06%	-29.86%
NOPAT Q/Q Growth	230.95%	3,172.26%	-75.26%	-13.90%	-0.15%	-60.04%	-56.14%	269.87%	23.37%	58.85%	-19.62%
Net Income Q/Q Growth	427.90%	1,635.21%	-71.28%	-10.97%	-3.38%	-48.20%	-34.04%	41.95%	72.31%	48.30%	-12.21%
EPS Q/Q Growth	500.00%	1,500.00%	-70.83%	-10.71%	-4.00%	-50.00%	-33.33%	50.00%	66.67%	45.00%	-10.34%
Operating Cash Flow Q/Q Growth	-8.46%	-55.03%	256.89%	-33.73%	22.18%	34.35%	-34.46%	-19.74%	42.86%	70.33%	-2.21%
Free Cash Flow Firm Q/Q Growth	70.77%	817.42%	-42.28%	-23.89%	-134.02%	132.88%	-859.95%	-212.10%	14.34%	-37.49%	15.18%
Invested Capital Q/Q Growth	-4.34%	1.55%	-1.82%	2.67%	2.02%	-2.23%	2.23%	12.31%	0.52%	2.69%	-0.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.38%	40.40%	37.18%	44.01%	40.74%	38.83%	37.65%	37.25%	39.78%	42.18%	38.38%
EBITDA Margin	7.30%	51.10%	17.58%	13.40%	12.30%	7.23%	7.58%	11.16%	16.50%	12.36%	11.61%
Operating Margin	1.58%	48.33%	12.63%	9.00%	8.59%	4.14%	1.91%	6.29%	8.88%	10.92%	7.36%
EBIT Margin	2.04%	47.41%	12.93%	9.34%	8.32%	4.30%	2.43%	6.28%	9.10%	11.32%	7.56%
Profit (Net Income) Margin	2.55%	45.10%	12.91%	9.82%	9.01%	5.12%	3.74%	4.64%	7.72%	10.79%	9.01%
Tax Burden Percent	84.76%	92.38%	87.20%	90.00%	89.44%	81.29%	85.62%	60.81%	76.65%	87.46%	105.82%
Interest Burden Percent	147.55%	102.98%	114.46%	116.84%	121.10%	146.37%	179.75%	121.48%	110.71%	108.96%	112.72%
Effective Tax Rate	15.24%	7.62%	12.80%	10.00%	10.56%	18.71%	14.38%	15.87%	29.07%	13.64%	2.06%
Return on Invested Capital (ROIC)	1.53%	50.47%	12.39%	9.49%	9.58%	4.34%	2.11%	6.32%	7.39%	11.39%	9.26%
ROIC Less NNEP Spread (ROIC-NNEP)	0.69%	50.19%	11.26%	8.31%	8.66%	3.35%	1.08%	6.71%	6.53%	10.54%	8.12%
Return on Net Nonoperating Assets (RNNOA)	-0.21%	-15.90%	-3.66%	-2.69%	-2.92%	-1.21%	-0.40%	-2.28%	-2.23%	-3.63%	-2.87%
Return on Equity (ROE)	1.32%	34.57%	8.74%	6.80%	6.66%	3.13%	1.71%	4.04%	5.16%	7.76%	6.38%
Cash Return on Invested Capital (CROIC)	-3.73%	11.37%	19.30%	20.65%	16.75%	9.04%	2.31%	-8.00%	-7.02%	-9.80%	-5.00%
Operating Return on Assets (OROA)	1.31%	29.73%	8.03%	6.04%	5.65%	2.92%	1.63%	4.11%	5.87%	7.50%	5.26%
Return on Assets (ROA)	1.64%	28.28%	8.02%	6.36%	6.12%	3.47%	2.52%	3.04%	4.98%	7.15%	6.28%
Return on Common Equity (ROCE)	1.32%	34.57%	8.74%	6.80%	6.66%	3.13%	1.71%	4.04%	5.16%	7.76%	6.38%
Return on Equity Simple (ROE_SIMPLE)	-0.85%	0.00%	11.13%	12.81%	14.22%	0.00%	5.62%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.29	75	19	16	16	6.38	2.80	10	13	20	16
NOPAT Margin	1.34%	44.65%	11.01%	8.10%	7.68%	3.37%	1.63%	5.29%	6.30%	9.43%	7.21%
Net Nonoperating Expense Percent (NNEP)	0.84%	0.28%	1.13%	1.18%	0.91%	0.99%	1.03%	-0.38%	0.86%	0.86%	1.14%
Return On Investment Capital (ROIC_SIMPLE)	-	8.13%	-	-	-	0.66%	0.29%	1.03%	1.25%	1.94%	1.52%
Cost of Revenue to Revenue	59.62%	59.60%	62.82%	55.99%	59.26%	61.17%	62.35%	62.75%	60.22%	57.82%	61.62%
SG&A Expenses to Revenue	20.73%	18.70%	19.61%	19.18%	17.13%	18.59%	19.52%	16.26%	16.27%	16.18%	14.28%
R&D to Revenue	18.08%	16.75%	16.97%	15.98%	15.03%	16.10%	16.22%	14.71%	14.15%	14.13%	13.61%
Operating Expenses to Revenue	38.80%	35.45%	36.57%	35.16%	32.15%	34.69%	35.75%	30.97%	30.90%	31.27%	31.02%
Earnings before Interest and Taxes (EBIT)	3.50	80	22	18	17	8.16	4.16	12	18	24	17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	13	86	30	26	26	14	13	22	33	27	26
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.23	3.57	3.85	4.93	3.75	3.75	2.30	2.72	2.69	4.35	7.21
Price to Tangible Book Value (P/TBV)	4.33	4.67	4.99	6.34	4.82	4.82	2.94	3.45	3.40	5.60	9.22
Price to Revenue (P/Rev)	4.11	4.90	5.35	6.62	4.83	4.66	2.90	3.52	3.58	5.73	9.09
Price to Earnings (P/E)	0.00	39.41	34.54	38.48	26.39	51.09	40.96	61.25	66.60	82.79	111.65
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	2.54%	2.89%	2.60%	3.79%	1.96%	2.44%	1.63%	1.50%	1.21%	0.90%
Enterprise Value to Invested Capital (EV/IC)	4.26	4.96	5.53	7.25	5.33	5.39	3.07	3.49	3.50	5.92	10.39
Enterprise Value to Revenue (EV/Rev)	3.76	4.42	4.83	6.12	4.36	4.20	2.44	3.12	3.16	5.32	8.66
Enterprise Value to EBITDA (EV/EBITDA)	96.56	24.93	23.41	27.96	19.32	33.61	23.70	32.19	30.99	43.97	66.05
Enterprise Value to EBIT (EV/EBIT)	0.00	35.55	30.82	35.00	23.59	48.78	38.83	56.92	55.72	70.40	100.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	38.38	33.90	38.70	25.82	56.46	45.56	67.42	73.51	89.97	121.73
Enterprise Value to Operating Cash Flow (EV/OCF)	32.62	45.38	37.64	51.01	35.64	27.28	17.27	22.71	22.78	36.16	53.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	43.96	28.19	34.74	32.49	59.79	135.86	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Long-Term Debt to Equity	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Financial Leverage	-0.30	-0.32	-0.32	-0.32	-0.34	-0.36	-0.37	-0.34	-0.34	-0.34	-0.35
Leverage Ratio	1.25	1.23	1.22	1.22	1.22	1.21	1.20	1.21	1.20	1.20	1.19
Compound Leverage Factor	1.84	1.27	1.40	1.43	1.47	1.78	2.17	1.47	1.33	1.30	1.34
Debt to Total Capital	1.71%	1.56%	1.51%	1.44%	1.40%	1.39%	1.33%	1.27%	1.22%	1.17%	1.11%
Short-Term Debt to Total Capital	0.12%	0.12%	0.12%	0.11%	0.11%	0.12%	0.11%	0.11%	0.11%	0.11%	0.11%
Long-Term Debt to Total Capital	1.59%	1.44%	1.39%	1.33%	1.29%	1.27%	1.22%	1.16%	1.11%	1.06%	1.01%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	98.29%	98.44%	98.49%	98.56%	98.60%	98.61%	98.67%	98.73%	98.78%	98.83%	98.89%
Debt to EBITDA	0.57	0.12	0.10	0.09	0.08	0.14	0.17	0.17	0.16	0.13	0.11
Net Debt to EBITDA	-8.98	-2.68	-2.49	-2.26	-2.06	-3.67	-4.52	-4.11	-4.15	-3.46	-3.24
Long-Term Debt to EBITDA	0.53	0.11	0.10	0.08	0.07	0.13	0.15	0.16	0.15	0.12	0.10
Debt to NOPAT	-1.45	0.19	0.15	0.12	0.11	0.23	0.32	0.36	0.38	0.26	0.20
Net Debt to NOPAT	22.82	-4.13	-3.60	-3.13	-2.75	-6.17	-8.68	-8.62	-9.83	-7.08	-5.97
Long-Term Debt to NOPAT	-1.34	0.17	0.14	0.11	0.10	0.22	0.29	0.33	0.35	0.24	0.18
Altman Z-Score	9.52	11.22	12.11	14.73	12.15	12.09	8.28	9.68	9.73	15.62	24.61
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.91	4.38	4.51	4.46	4.76	4.61	4.45	4.24	4.30	4.50	4.55
Quick Ratio	2.57	3.29	3.41	3.39	3.65	3.54	3.21	2.94	3.07	3.23	3.30
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-9.12	65	38	29	-9.77	3.21	-24	-76	-65	-90	-76
Operating Cash Flow to CapEx	347.66%	93.12%	245.70%	260.51%	299.04%	468.65%	126.66%	28.52%	359.64%	406.39%	295.95%
Free Cash Flow to Firm to Interest Expense	0.00	13.51	0.00	0.00	0.00	0.30	0.00	0.00	0.00	-10.61	0.00
Operating Cash Flow to Interest Expense	0.00	1.91	0.00	0.00	0.00	3.38	0.00	0.00	0.00	5.44	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	-0.14	0.00	0.00	0.00	2.66	0.00	0.00	0.00	4.10	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.63	0.62	0.65	0.68	0.68	0.67	0.65	0.64	0.66	0.70
Accounts Receivable Turnover	6.63	6.94	6.63	6.81	7.21	7.37	7.86	6.69	6.07	6.83	7.28
Inventory Turnover	3.49	3.45	3.59	3.56	4.06	4.27	4.17	4.16	4.37	4.48	4.57
Fixed Asset Turnover	3.60	3.36	3.29	3.45	3.64	3.68	3.70	3.30	3.29	3.35	3.68
Accounts Payable Turnover	6.22	6.08	6.23	6.65	7.74	7.22	6.99	7.67	8.47	8.68	8.57
Days Sales Outstanding (DSO)	55.08	52.59	55.04	53.59	50.61	49.53	46.45	54.54	60.13	53.40	50.15
Days Inventory Outstanding (DIO)	104.61	105.95	101.75	102.39	90.01	85.45	87.44	87.82	83.59	81.47	79.95
Days Payable Outstanding (DPO)	58.65	60.08	58.59	54.87	47.15	50.52	52.18	47.56	43.11	42.06	42.61
Cash Conversion Cycle (CCC)	101.04	98.47	98.20	101.10	93.46	84.46	81.71	94.80	100.61	92.82	87.49
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	582	591	581	596	608	595	608	683	686	705	700
Invested Capital Turnover	1.15	1.13	1.13	1.17	1.25	1.29	1.29	1.20	1.17	1.21	1.28
Increase / (Decrease) in Invested Capital	11	9.68	-19	-13	26	3.17	27	87	78	110	92
Enterprise Value (EV)	2,482	2,932	3,211	4,321	3,238	3,206	1,866	2,386	2,400	4,173	7,274
Market Capitalization	2,713	3,247	3,552	4,671	3,583	3,557	2,221	2,691	2,721	4,501	7,631
Book Value per Share	$10.83	$11.68	$11.93	$12.28	$12.34	$12.24	$12.45	$12.84	$13.09	$13.36	$13.59
Tangible Book Value per Share	$8.07	$8.93	$9.19	$9.55	$9.61	$9.53	$9.75	$10.12	$10.38	$10.36	$10.63
Total Capital	855	923	938	962	969	961	979	1,003	1,022	1,048	1,071
Total Debt	15	14	14	14	14	13	13	13	12	12	12
Total Long-Term Debt	14	13	13	13	12	12	12	12	11	11	11
Net Debt	-231	-315	-341	-350	-345	-350	-356	-305	-321	-328	-356
Capital Expenditures (CapEx)	5.92	9.93	13	8.40	8.94	7.66	19	66	7.51	11	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	133	114	104	119	128	111	128	152	163	158	166
Debt-free Net Working Capital (DFNWC)	378	444	459	483	487	475	428	402	430	434	470
Net Working Capital (NWC)	377	443	458	482	486	474	427	401	429	433	469
Net Nonoperating Expense (NNE)	-2.08	-0.77	-3.21	-3.40	-2.77	-3.32	-3.60	1.27	-2.88	-2.93	-4.08
Net Nonoperating Obligations (NNO)	-258	-317	-343	-352	-347	-353	-358	-307	-323	-331	-359
Total Depreciation and Amortization (D&A)	9.04	6.20	7.83	8.01	8.27	5.55	8.83	9.56	15	2.23	9.17
Debt-free, Cash-free Net Working Capital to Revenue	20.05%	17.24%	15.65%	16.87%	17.31%	14.55%	16.76%	19.88%	21.49%	20.14%	19.73%
Debt-free Net Working Capital to Revenue	57.21%	66.92%	69.09%	68.37%	65.57%	62.19%	55.90%	52.63%	56.67%	55.33%	55.95%
Net Working Capital to Revenue	57.05%	66.76%	68.93%	68.22%	65.42%	62.05%	55.76%	52.49%	56.52%	55.18%	55.81%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.06	$0.97	$0.28	$0.25	$0.24	$0.13	$0.08	$0.12	$0.20	$0.30	$0.26
Adjusted Weighted Average Basic Shares Outstanding	77.57M	77.37M	77.45M	77.24M	77.41M	77.34M	77.35M	77.11M	77.39M	77.35M	77.83M
Adjusted Diluted Earnings per Share	$0.06	$0.96	$0.28	$0.25	$0.24	$0.12	$0.08	$0.12	$0.20	$0.29	$0.26
Adjusted Weighted Average Diluted Shares Outstanding	78.41M	78.16M	78.49M	78.72M	78.44M	78.44M	77.88M	77.53M	77.73M	78.31M	79.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	77.84M	77.60M	77.17M	77.39M	77.45M	77.57M	77.08M	77.11M	77.52M	77.92M	77.95M
Normalized Net Operating Profit after Tax (NOPAT)	2.29	75	19	16	16	6.38	2.80	10	13	20	16
Normalized NOPAT Margin	1.34%	44.65%	11.01%	8.10%	7.68%	3.37%	1.63%	5.29%	6.30%	9.43%	7.21%
Pre Tax Income Margin	3.01%	48.82%	14.80%	10.91%	10.07%	6.30%	4.36%	7.63%	10.08%	12.34%	8.52%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	16.47	0.00	0.00	0.00	0.77	0.00	0.00	0.00	2.88	0.00
NOPAT to Interest Expense	0.00	15.51	0.00	0.00	0.00	0.60	0.00	0.00	0.00	2.40	0.00
EBIT Less CapEx to Interest Expense	0.00	14.42	0.00	0.00	0.00	0.05	0.00	0.00	0.00	1.54	0.00
NOPAT Less CapEx to Interest Expense	0.00	13.46	0.00	0.00	0.00	-0.12	0.00	0.00	0.00	1.06	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-123.16%	24.03%	36.11%	33.01%	42.00%	76.57%	107.13%	131.16%	103.64%	48.28%	6.01%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven view of FormFactor, Inc. (FORM) using the last four years of quarterly statements available in the provided data. The focus is on identifying trends in revenue, margins, cash flow, and balance-sheet strength that may impact investors.

Strong recent top-line growth: Q4 2025 revenue reached $215.2M, up from $189.5M in Q4 2024 (approx. +13.6% YoY), continuing a trend of growing net revenue since 2022.
Gross margin expansion: Gross margin rose to about 42% in Q4 2025 (approx. $90.8M gross profit on $215.2M revenue), up from roughly 27% in 2022 and higher than the ~36% level seen in Q4 2024. This points to improved pricing, mix, or cost control at scale.
Turning profitability positive in late 2023–2025: Net income attributable to common shareholders was $23.22M in Q4 2025, up from smaller profits or losses in prior years (e.g., about $9.70M in Q4 2024). This indicates a shift to sustained profitability in the recent quarter.
Operating cash flow improving and currently strong: Net cash from continuing operating activities was about $45.9M in Q4 2025, signaling robust cash generation from core operations.
Solid liquidity and a strong balance-sheet base: Cash & equivalents at 9/30/2025 were about $97.7M, with total current assets roughly $559M and total current liabilities around $130M, delivering a very comfortable current ratio (well over 4x).
Modest, manageable leverage: Short‑term debt around $1.1M and long‑term debt around $11.3M in the latest quarters, with total liabilities about $193M against roughly $1.01B in equity, indicating ample equity cushion and light debt load.
Ongoing capex supports capacity expansion: Quarterly purchases of property, plant & equipment (PPE) in late 2025 were modest but persistent (e.g., Q4 2025 PPE purchases about $11.3M; prior quarters also show positive PPE spend), suggesting ongoing investments in manufacturing capacity.
Research & development remains a meaningful investment: R&D expenses run in the $28–31M range per quarter in 2024–2025, representing a mid-teens percentage of revenue, indicating continued focus on product development and innovation.
Operating margin improving month over month in 2025: From Q1 2025 through Q4 2025, operating margin moved from the low single digits toward the mid‑teens (Q4 2025 around 11%), signaling improving efficiency and leverage on higher revenue.

Quarterly profitability remains variable: While Q4 2025 was strong, earlier 2025 quarters posted lower operating income margins (e.g., around 1–6% earlier in the year), so investors should watch for sustained momentum across multiple quarters to confirm a durable trend.
Growth driven more by margin expansion than dramatic top-line acceleration: Revenue growth is positive, but gross margin expansion and improved profitability appear to be the more dominant drivers of earnings growth in recent quarters, rather than explosive top-line growth alone.

Net income margin still modest vs some peers: Despite improvement, Q4 2025 net income margin is around 11% (23.2M on 215.2M revenue). While positive, this remains a relatively modest margin profile compared with some peers in this space.
Investment pace and near-term expense structure: Sustained R&D and SG&A expense, while supporting margin improvement, keep near-term margins under pressure if revenue growth slows or if incremental pricing/mix strength wanes.

05/20/26 12:00 AM ETAI Generated. May Contain Errors.

FormFactor Financials - Frequently Asked Questions

According to the most recent income statement we have on file, FormFactor's financial year ends in December. Their financial year 2025 ended on December 27, 2025.

FormFactor's net income appears to be on an upward trend, with a most recent value of $54.36 million in 2025, falling from -$1.52 million in 2015. The previous period was $69.61 million in 2024. View FormFactor's forecast to see where analysts expect FormFactor to go next.

FormFactor's total operating income in 2025 was $57.07 million, based on the following breakdown:

Total Gross Profit: $308.85 million
Total Operating Expenses: $251.78 million

Over the last 10 years, FormFactor's total revenue changed from $282.36 million in 2015 to $784.99 million in 2025, a change of 178.0%.

FormFactor's total liabilities were at $188.96 million at the end of 2025, a 4.8% decrease from 2024, and a 293.3% increase since 2015.

In the past 10 years, FormFactor's cash and equivalents has ranged from $91.18 million in 2017 to $190.73 million in 2024, and is currently $103.33 million as of their latest financial filing in 2025.

Over the last 10 years, FormFactor's book value per share changed from 5.07 in 2015 to 13.36 in 2025, a change of 163.6%.

Related Companies

Financial statements for NASDAQ:FORM last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

FormFactor (FORM) Financials

Financials Breakdown Chart

Key Financial Trends

FormFactor Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

FormFactor (FORM) Financials

Annual Income Statements for FormFactor

Quarterly Income Statements for FormFactor

Annual Cash Flow Statements for FormFactor

Quarterly Cash Flow Statements for FormFactor

Annual Balance Sheets for FormFactor

Quarterly Balance Sheets for FormFactor

Annual Metrics And Ratios for FormFactor

Quarterly Metrics And Ratios for FormFactor

Financials Breakdown Chart

Key Financial Trends

FormFactor Financials - Frequently Asked Questions

When does FormFactor's fiscal year end?

How has FormFactor's net income changed over the last 10 years?

What is FormFactor's operating income?

How has FormFactor's revenue changed over the last 10 years?

How much debt does FormFactor have?

How much cash does FormFactor have?

How has FormFactor's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools