Comprehensive Stock Comparison
Compare Nova Ltd. (NVMI) vs FormFactor, Inc. (FORM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
Selected Stocks
Add up to 10 tickers. Use presets or search to get started.
Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | NVMI | 29.8% revenue growth vs FORM's 15.2% |
| Value | NVMI | Lower P/E (42.8x vs 55.4x), PEG 1.18 vs 4.70 |
| Quality / Margins | NVMI | 29.4% net margin vs FORM's 6.8% |
| Stability / Safety | NVMI | Beta 1.83 vs FORM's 2.00 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | FORM | +196.9% vs NVMI's +83.5% |
| Efficiency (ROA) | NVMI | 11.0% ROA vs FORM's 4.3%, ROIC 14.9% vs 6.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Nova Ltd. is a semiconductor process control systems company that designs and sells metrology equipment used to measure and monitor chip manufacturing processes. It generates revenue primarily from selling its dimensional, films, and materials metrology platforms—which account for the vast majority of sales—to logic, foundry, and memory chip manufacturers worldwide. The company's competitive advantage lies in its deep expertise in complex measurement technologies and strong customer relationships with leading semiconductor manufacturers who rely on its precision tools for advanced process control.
FormFactor is a semiconductor testing equipment company that designs and manufactures probe cards and analytical systems used to test integrated circuits during development and production. It generates revenue primarily from probe cards (~70% of sales) for production testing and systems (~30%) for R&D applications—serving semiconductor manufacturers, foundries, and research institutions. The company's competitive advantage lies in its deep technical expertise in wafer-level testing and strong relationships with leading semiconductor companies that rely on its precision measurement solutions.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
NVMI leads in 4 of 6 categories — strongest in Financial Metrics and Valuation Metrics. 1 category is tied.
Financial Metrics (TTM)
NVMI and FORM operate at a comparable scale, with $881M and $785M in trailing revenue. NVMI is the more profitable business, keeping 29.4% of every revenue dollar as net income compared to FORM's 6.8%.
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $881M | $785M |
| EBITDAEarnings before interest/tax | $276M | $85M |
| Net IncomeAfter-tax profit | $259M | $53M |
| Free Cash FlowCash after capex | $218M | $12M |
| Gross MarginGross profit ÷ Revenue | +57.4% | +39.3% |
| Operating MarginEBIT ÷ Revenue | +28.8% | +7.3% |
| Net MarginNet income ÷ Revenue | +29.4% | +6.8% |
| FCF MarginFCF ÷ Revenue | +24.7% | +1.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +14.3% | +13.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +22.8% | +141.7% |
Valuation Metrics
At 76.3x trailing earnings, NVMI trades at a 31% valuation discount to FORM's 111.1x P/E. Adjusting for growth (PEG ratio), NVMI offers better value at 2.11x vs FORM's 9.43x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| Market CapShares × price | $12.8B | $7.6B |
| Enterprise ValueMkt cap + debt − cash | $12.9B | $7.5B |
| Trailing P/EPrice ÷ TTM EPS | 76.32x | 111.10x |
| Forward P/EPrice ÷ next-FY EPS est. | 42.79x | 55.40x |
| PEG RatioP/E ÷ EPS growth rate | 2.11x | 9.43x |
| EV / EBITDAEnterprise value multiple | 63.09x | 76.51x |
| Price / SalesMarket cap ÷ Revenue | 19.11x | 9.99x |
| Price / BookPrice ÷ Book value/share | 15.20x | 8.18x |
| Price / FCFMarket cap ÷ FCF | 58.93x | 96.40x |
Profitability & Efficiency
NVMI delivers a 19.7% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $5 for FORM. FORM carries lower financial leverage with a 0.04x debt-to-equity ratio, signaling a more conservative balance sheet compared to NVMI's 0.25x. On the Piotroski fundamental quality scale (0–9), NVMI scores 8/9 vs FORM's 7/9, reflecting strong financial health.
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +19.7% | +5.1% |
| ROA (TTM)Return on assets | +11.0% | +4.3% |
| ROICReturn on invested capital | +14.9% | +6.2% |
| ROCEReturn on capital employed | +20.7% | +6.5% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 7 |
| Debt / EquityFinancial leverage | 0.25x | 0.04x |
| Net DebtTotal debt minus cash | $78M | -$152M |
| Cash & Equiv.Liquid assets | $158M | $191M |
| Total DebtShort + long-term debt | $236M | $39M |
| Interest CoverageEBIT ÷ Interest expense | 116.20x | 154.98x |
Total Returns (with DRIP)
A $10,000 investment in NVMI five years ago would be worth $48,991 today (with dividends reinvested), compared to $20,434 for FORM. Over the past 12 months, FORM leads with a +196.9% total return vs NVMI's +83.5%. The 3-year compound annual growth rate (CAGR) favors NVMI at 69.2% vs FORM's 48.7% — a key indicator of consistent wealth creation.
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +26.3% | +67.1% |
| 1-Year ReturnPast 12 months | +83.5% | +196.9% |
| 3-Year ReturnCumulative with dividends | +384.5% | +228.5% |
| 5-Year ReturnCumulative with dividends | +389.9% | +104.3% |
| 10-Year ReturnCumulative with dividends | +4009.2% | +1201.1% |
| CAGR (3Y)Annualised 3-year return | +69.2% | +48.7% |
Risk & Volatility
NVMI is the less volatile stock with a 1.83 beta — it tends to amplify market swings less than FORM's 2.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FORM currently trades 92.4% from its 52-week high vs NVMI's 86.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.83x | 2.00x |
| 52-Week HighHighest price in past year | $507.27 | $107.04 |
| 52-Week LowLowest price in past year | $154.00 | $22.58 |
| % of 52W HighCurrent price vs 52-week peak | +86.5% | +92.4% |
| RSI (14)Momentum oscillator 0–100 | 50.4 | 61.6 |
| Avg Volume (50D)Average daily shares traded | 335K | 1.2M |
Analyst Outlook
Wall Street rates NVMI as "Buy" and FORM as "Buy". Consensus price targets imply 11.5% upside for NVMI (target: $490) vs -22.8% for FORM (target: $76).
| Metric | NVMINova Ltd. | FORMFormFactor, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $489.50 | $76.29 |
| # AnalystsCovering analysts | 12 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | +0.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Nova Ltd. (NVMI) | 100 | 1,268.58 | +1168.6% |
| FormFactor, Inc. (FORM) | 100 | 314.66 | +214.7% |
Nova Ltd. (NVMI) returned +390% over 5 years vs FormFactor, Inc. (FORM)'s +104%. A $10,000 investment in NVMI 5 years ago would be worth $48,991 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Nova Ltd. (NVMI) | $149M | $672M | +352.7% |
| FormFactor, Inc. (FORM) | $282M | $764M | +170.4% |
Nova Ltd.'s revenue grew from $149M (2015) to $672M (2024) — a 18.3% CAGR. FormFactor, Inc.'s revenue grew from $282M (2015) to $764M (2024) — a 11.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Nova Ltd. (NVMI) | 10.6% | 27.3% | +158.1% |
| FormFactor, Inc. (FORM) | -0.5% | 9.1% | +1790.1% |
Nova Ltd.'s net margin went from 11% (2015) to 27% (2024). FormFactor, Inc.'s net margin went from -1% (2015) to 9% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Nova Ltd. (NVMI) | 15.9 | 34.3 | +115.7% |
| FormFactor, Inc. (FORM) | 28.5 | 49.4 | +73.3% |
Nova Ltd. has traded in a 12x–47x P/E range over 8 years; current trailing P/E is ~76x. FormFactor, Inc. has traded in a 10x–51x P/E range over 8 years; current trailing P/E is ~111x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Nova Ltd. (NVMI) | 0.57 | 5.75 | +908.8% |
| FormFactor, Inc. (FORM) | -0.03 | 0.89 | +3484.0% |
Nova Ltd.'s EPS grew from $0.57 (2015) to $5.75 (2024) — a 29% CAGR. FormFactor, Inc.'s EPS grew from $-0.03 (2015) to $0.89 (2024).
Chart 6Free Cash Flow — 5 Years
Nova Ltd. generated $218M FCF in 2024 (+71% vs 2021). FormFactor, Inc. generated $79M FCF in 2024 (+9% vs 2021).
NVMI vs FORM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is NVMI or FORM a better buy right now?
Nova Ltd. (NVMI) offers the better valuation at 76.3x trailing P/E (42.8x forward), making it the more compelling value choice. Analysts rate Nova Ltd. (NVMI) a "Buy" — based on 12 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — NVMI or FORM?
On trailing P/E, Nova Ltd. (NVMI) is the cheapest at 76.3x versus FormFactor, Inc. at 111.1x. On forward P/E, Nova Ltd. is actually cheaper at 42.8x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Nova Ltd. wins at 1.18x versus FormFactor, Inc.'s 4.70x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — NVMI or FORM?
Over the past 5 years, Nova Ltd. (NVMI) delivered a total return of +389.9%, compared to +104.3% for FormFactor, Inc. (FORM). A $10,000 investment in NVMI five years ago would be worth approximately $49K today (assuming dividends reinvested). Over 10 years, the gap is even starker: NVMI returned +40.1% versus FORM's +1201%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — NVMI or FORM?
By beta (market sensitivity over 5 years), Nova Ltd. (NVMI) is the lower-risk stock at 1.83β versus FormFactor, Inc.'s 2.00β — meaning FORM is approximately 9% more volatile than NVMI relative to the S&P 500. On balance sheet safety, FormFactor, Inc. (FORM) carries a lower debt/equity ratio of 4% versus 25% for Nova Ltd. — giving it more financial flexibility in a downturn.
05Which has better profit margins — NVMI or FORM?
Nova Ltd. (NVMI) is the more profitable company, earning 27.3% net margin versus 9.1% for FormFactor, Inc. — meaning it keeps 27.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: NVMI leads at 27.9% versus 8.5% for FORM. At the gross margin level — before operating expenses — NVMI leads at 57.6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is NVMI or FORM more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Nova Ltd. (NVMI) is the more undervalued stock at a PEG of 1.18x versus FormFactor, Inc.'s 4.70x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Nova Ltd. (NVMI) trades at 42.8x forward P/E versus 55.4x for FormFactor, Inc. — 12.6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NVMI: 11.5% to $489.50.
07Which pays a better dividend — NVMI or FORM?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is NVMI or FORM better for a retirement portfolio?
For long-horizon retirement investors, FormFactor, Inc. (FORM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1201% 10Y return). Nova Ltd. (NVMI) carries a higher beta of 1.83 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (FORM: +1201%, NVMI: +40.1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between NVMI and FORM?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that beat both.