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NASDAQ · US · Semiconductor Equipment & Materials

FORM FormFactor

Probe cards incl. HBM wafer probe

Tight but sold off Its supply chain is tightening but the stock is below its 50-day average — price and fundamentals disagree. (automatic: supply-chain trend + price vs 50-day average)
Last close (delayed) · 2026-10-26
$103.1
+4.66% today
1W
−6.4%
1M
−20.5%
3M
+16.9%
YTD
+84.8%
1Y
+138.8%
Off 52w high
−35.5%
Next earnings (est.): 2026-10-28
Market cap$7.70B
P/E (trailing)67.9Forward 25.4
EV / sales7.9×EV/EBITDA 38.1×
Revenue (TTM)$902MGrowth 31.9% y/y
Margins46.2%gross · op 24.1%
Free cash flow$115MCash $346M · debt $29.91M
Analyst target$152.2+47.6% upside · 9 analysts · buy
Riskβ 1.18Short 5.9% of float

Fundamentals from public market data, refreshed daily (2026-10-24 02:59 UTC). Figures in reporting currency.

FORM · price with what management and the data said

Supply tighteningBeat / raiseMiss / cutData releaseEasing Hover a numbered marker for details · dashed lines = 50- and 200-day averages

Timeline: management commentary, data & earnings

8 events
  1. 8
    2026-07-29EarningsBeat / raise

    Reported EPS 0.82 vs 0.61 expected (+34.4% surprise).

  2. 7
    2026-04-29EarningsBeat / raise

    Reported EPS 0.56 vs 0.44 expected (+27.6% surprise).

  3. 6
    2026-02-04EarningsBeat / raise

    Reported EPS 0.46 vs 0.35 expected (+30.6% surprise).

  4. 5
    2025-10-29EarningsBeat / raise

    Reported EPS 0.33 vs 0.25 expected (+32.8% surprise).

  5. 4
    2025-07-30EarningsMiss / cut

    Reported EPS 0.27 vs 0.3 expected (-10.0% surprise).

  6. 3
    2025-04-30EarningsBeat / raise

    Reported EPS 0.23 vs 0.19 expected (+21.1% surprise).

  7. 2
    2025-02-05EarningsMiss / cut

    Reported EPS 0.27 vs 0.29 expected (-7.2% surprise).

  8. 1
    2024-10-30EarningsBeat / raise

    Reported EPS 0.35 vs 0.31 expected (+11.7% surprise).

Earnings history

EPS vs expectations
DateExpected EPSReported EPSSurprise
2026-07-290.610.82+34.4%
2026-04-290.440.56+27.6%
2026-02-040.350.46+30.6%
2025-10-290.250.33+32.8%
2025-07-300.30.27−10.0%
2025-04-300.190.23+21.1%
2025-02-050.290.27−7.2%
2024-10-300.310.35+11.7%
2024-07-310.310.35+11.7%
2024-05-010.190.18−5.3%
2024-02-070.20.2−0.6%
2023-11-010.170.22+26.1%
2023-08-020.120.14+14.6%
2023-05-030.130.16+19.6%
2023-02-080.030.05+58.4%
2022-10-260.210.24+16.5%
2022-07-270.430.46+7.8%
2022-04-270.390.49+25.2%
2022-02-020.410.44+6.8%
2021-10-270.350.4+13.5%
2021-07-280.320.36+11.0%
2021-04-280.380.38+0.5%
2021-02-030.380.44+14.4%
2020-10-280.340.39+13.2%

About FormFactor

Website ↗

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. It 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 me…

2,153 employees · Livermore, United States

Bigger dies, more chiplets and HBM stacks multiply test time. SoC and memory testers become a quiet throughput gate for every accelerator shipped.

Wafer probe→Final test→Burn-in→Ship

What would prove us wrong. Weakens if tester lead times shorten while accelerator unit volumes rise.

Peers at the same bottleneck

Who else supplies this

StockRoleLast1D1MYTDTrend
6857.T
Advantest
SoC and memory testers for AI accelerators and HBM ¥31,070−3.93%−6.0%+58.5%
TER
Teradyne
SoC test plus Universal Robots cobots $315.4+2.11%−20.8%+63.1%
AEHR
Aehr Test Systems
Wafer-level burn-in $58.29+5.39%−44.2%+188.7%
COHU
Cohu
Test handlers and interface $50.14+4.55%−25.2%+115.5%

Not investment advice. Prices delayed and in local currency. Quotes in "double quotes" are verbatim as reported by the linked source; other commentary is our paraphrase. Earnings dates are estimates.