FormFactor's revenue has recovered from $171.4M in 2025Q1 to $280.5M in 2026Q3, with gross margin expanding from 37.2% to 54.7%, suggesting improved fixed-cost absorption as test demand rebounds.
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Revenue rose to $280.5M in 2026Q3 and operating margin expanded from 3.5% in 2025Q1 to 29.1%, though net margin of 9.0% in 2026Q1 lagged operating performance and warrants further investigation.
FormFactor reported Q1 revenue of US$226.14 million and net income of US$20.38 million, with Q2 guidance projecting record revenue of US$240 million and higher margins.
The company's leadership in combined electrical and optical testing positions it for future growth in the semiconductor equipment and materials sector.
Investment cases for FormFactor highlight strong fundamentals, valuation multiples, and smart-money flows, indicating bullish sentiment among analysts.
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 28, 2026 | $1.04+20.6% vs $0.86 | $281M+3.7% vs $271M |
Q3 2026 Jul 29, 2026 | $0.82+34.6% vs $0.61 | $258M+7.6% vs $240M |
Q2 2026 Apr 29, 2026 | $0.56+24.4% vs $0.45 | $226M+0.3% vs $226M |
Q1 2026 Feb 4, 2026 | $0.46+31.4% vs $0.35 | $215M+2.2% vs $211M |
FormFactor targets $400M in annual probe card capacity by 2027 as AI-driven chip testing demand, manufacturing improvements and photonics growth fuel expansion.
FormFactor delivered strong Q3 results, with revenue up 38.4% to $280.5 million and robust profit growth. Demand for probe cards is rising due to complex AI processors and memory chips, driving near-full capacity utilization and necessitating a new Texas factory. Growth catalysts include expanded probe card production and accelerating silicon photonics revenue, though customer concentration and margin sustainability pose risks.
FormFactor (FORM) possesses solid growth attributes, which could help it handily outperform the market.
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Benchmark FORM against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for FormFactor, Inc. (FORM)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $81.12 | $6.32B | 117.57 | 2.8% | 6.93% | 5.48% | — | |
| $38.49 | $1.82B | -24.21 | 12.74% | -3.97% | -2.9% | — | |
| $173.28 | $8.62B | 62.33 | 1.82% | 11.84% | 6.5% | — | |
| $99.24 | $3.05B | 26.12 | -17.57% | 10.71% | 8.91% | — | |
| $30.97 | $1.08B | -20.11 | 11.61% | 0.32% | 0.46% | — | |
| $97.05 | $4.53B | 93.32 | 15.57% | 7.4% | 5.82% | — |
FormFactor, Inc. (FORM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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FormFactor, Inc. (FORM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 28, 2026·SEC
Oct 13, 2026·SEC
Jul 29, 2026·SEC
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FormFactor, Inc. (FORM) stock FAQ — growth, dividends, profitability & financials explained
FormFactor, Inc. (FORM) reported $980.1M in revenue over the trailing twelve months. Revenue was $785.0M in fiscal year 2025. That is 898% more than the $78.7M of fiscal year 2002.
FormFactor, Inc. (FORM) grew revenue by 2.8% in fiscal year 2025, compared with the prior fiscal year.
Yes. FormFactor, Inc. (FORM) earned $173.6M in net income over the trailing twelve months (a 17.7% net margin).
FormFactor, Inc. (FORM) had a return on equity (ROE) of 5.5% in fiscal year 2025. That is below the market's typical 10-15%.
FormFactor, Inc. (FORM) generated $181.3M in free cash flow over the trailing twelve months.
