Pulling SEC filings + quote and writing the call…

FORMFACTOR INC
Next earnings Jul 28, 2026 · consensus $0.62 EPS, $245M rev
Last earnings +1.0% on 2026-04-29
Clean-balance-sheet probe-card leader, but a 216.7x P/E on declining earnings and 14.8x sales prices in far more than the numbers show.
Sources: SEC EDGAR (CIK 0001039399, latest 10-Q filed 2026-05-05) · EODHD · analysis by claude-code · as of 6/21/2026, 8:48:30 PM.
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Weak on both the fundamentals and the price — little to like at the current level.
FormFactor makes semiconductor test and measurement products (probe cards, etc.), a real and strategically important niche leveraged to advanced-node and AI/HBM testing. The balance sheet is pristine — $1.04B equity against just $189M total liabilities (0.18x), only $11.1M long-term debt — and the company is solidly profitable with $115M of operating cash flow. That quality is not in dispute.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $770M | $748M | $663M | $764M | $785M |
| Gross profit | $323M | $296M | $259M | $308M | $309M |
| Operating income | $98.0M | $54.9M | $82.8M | $64.8M | $57.1M |
| Net income | $83.9M | $50.7M | $82.4M | $69.6M | $54.4M |
| Diluted EPS | $1.06 | $0.65 | $1.05 | $0.89 | $0.69 |
| Net margin | 10.9% | 6.8% | 12.4% | 9.1% | 6.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1074 tracked peers · median
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Last 90 days: 0 open-market buys · 12 sales
| 2026-06-16 | St Dennis Thomas Director | Gift | 740.00 | |
| 2026-06-15 | St Dennis Thomas Director | Sell | 2.80K @ $151.49 | $424K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 1.40K @ $117.70 | $165K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 767.00 @ $119.00 | $91.3K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 400.00 @ $119.46 | $47.8K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 975.00 @ $121.00 | $118K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 4.22K @ $121.72 | $514K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 2.50K @ $122.63 | $307K |
| 2026-06-10 | SLESSOR MIKE CEO | Sell | 1.63K @ $123.37 | $201K |
| 2026-06-02 | McKinnis Aric Brendan CFO, SVP Global Finance | Exercise | 773.00 | |
| 2026-06-02 | McKinnis Aric Brendan CFO, SVP Global Finance | Tax | 193.00 @ $125.11 | $24.1K |
| 2026-06-02 | Rhodes Sheri Director | Sell | 6.33K @ $125.40 | $794K |