FORMFACTOR INC (FORM) Stock Fundamental Analysis
USA - NASDAQ:FORM - US3463751087 - Common Stock
48.72 USD
-1.7 (-3.36%)
48.5616 USD
-0.16 (-0.33%)
FORM gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. While FORM has a great health rating, its profitability is only average at the moment. FORM is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
FORM had positive earnings in the past year.
FORM had a positive operating cash flow in the past year.
FORM had positive earnings in each of the past 5 years.
Each year in the past 5 years FORM had a positive operating cash flow.
1.2 Ratios
FORM has a Return On Assets of 3.42%. This is in the better half of the industry: FORM outperforms 61.61% of its industry peers.
With a Return On Equity value of 4.08%, FORM perfoms like the industry average, outperforming 58.93% of the companies in the same industry.
The Return On Invested Capital of FORM (3.53%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for FORM is significantly below the industry average of 10.86%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.42% | ||
| ROE | 4.08% | ||
| ROIC | 3.53% |
ROA(3y)6.19%
ROA(5y)6.99%
ROE(3y)7.57%
ROE(5y)8.71%
ROIC(3y)4.11%
ROIC(5y)6.44%
1.3 Margins
FORM has a Profit Margin of 5.43%. This is comparable to the rest of the industry: FORM outperforms 58.93% of its industry peers.
FORM's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 5.54%, FORM is in line with its industry, outperforming 56.25% of the companies in the same industry.
In the last couple of years the Operating Margin of FORM has declined.
FORM has a Gross Margin of 38.41%. This is comparable to the rest of the industry: FORM outperforms 40.18% of its industry peers.
FORM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 5.54% | ||
| PM (TTM) | 5.43% | ||
| GM | 38.41% |
OM growth 3Y-24.27%
OM growth 5Y-7.33%
PM growth 3Y-5.61%
PM growth 5Y6.58%
GM growth 3Y-1.62%
GM growth 5Y0.02%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), FORM is destroying value.
FORM has less shares outstanding than it did 1 year ago.
FORM has more shares outstanding than it did 5 years ago.
The debt/assets ratio for FORM has been reduced compared to a year ago.
2.2 Solvency
FORM has an Altman-Z score of 13.44. This indicates that FORM is financially healthy and has little risk of bankruptcy at the moment.
FORM has a Altman-Z score of 13.44. This is amongst the best in the industry. FORM outperforms 80.36% of its industry peers.
The Debt to FCF ratio of FORM is 2.00, which is a good value as it means it would take FORM, 2.00 years of fcf income to pay off all of its debts.
FORM has a Debt to FCF ratio of 2.00. This is in the better half of the industry: FORM outperforms 67.86% of its industry peers.
A Debt/Equity ratio of 0.01 indicates that FORM is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.01, FORM is in the better half of the industry, outperforming 69.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 2 | ||
| Altman-Z | 13.44 |
ROIC/WACC0.33
WACC10.69%
2.3 Liquidity
A Current Ratio of 4.30 indicates that FORM has no problem at all paying its short term obligations.
FORM has a better Current ratio (4.30) than 65.18% of its industry peers.
FORM has a Quick Ratio of 3.46. This indicates that FORM is financially healthy and has no problem in meeting its short term obligations.
With a decent Quick ratio value of 3.46, FORM is doing good in the industry, outperforming 66.07% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.3 | ||
| Quick Ratio | 3.46 |
3. Growth
3.1 Past
FORM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 1.85%.
FORM shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.03% yearly.
Looking at the last year, FORM shows a small growth in Revenue. The Revenue has grown by 2.29% in the last year.
Measured over the past years, FORM shows a small growth in Revenue. The Revenue has been growing by 5.31% on average per year.
EPS 1Y (TTM)1.85%
EPS 3Y-10.05%
EPS 5Y2.03%
EPS Q2Q%-5.71%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-0.26%
Revenue growth 5Y5.31%
Sales Q2Q%-2.52%
3.2 Future
The Earnings Per Share is expected to grow by 18.19% on average over the next years. This is quite good.
Based on estimates for the next years, FORM will show a small growth in Revenue. The Revenue will grow by 7.45% on average per year.
EPS Next Y4.75%
EPS Next 2Y18%
EPS Next 3Y12.02%
EPS Next 5Y18.19%
Revenue Next Year1.8%
Revenue Next 2Y5.94%
Revenue Next 3Y4.3%
Revenue Next 5Y7.45%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
FORM is valuated quite expensively with a Price/Earnings ratio of 44.29.
Based on the Price/Earnings ratio, FORM is valued a bit cheaper than 60.71% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 25.07, FORM is valued quite expensively.
FORM is valuated quite expensively with a Price/Forward Earnings ratio of 30.43.
FORM's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 34.08. FORM is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.29 | ||
| Fwd PE | 30.43 |
4.2 Price Multiples
FORM's Enterprise Value to EBITDA is on the same level as the industry average.
FORM's Price/Free Cash Flow is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 626.13 | ||
| EV/EBITDA | 44.01 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates FORM does not grow enough to justify the current Price/Earnings ratio.
FORM's earnings are expected to grow with 12.02% in the coming years. This may justify a more expensive valuation.
PEG (NY)9.33
PEG (5Y)21.81
EPS Next 2Y18%
EPS Next 3Y12.02%
5. Dividend
5.1 Amount
No dividends for FORM!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
48.72
-1.7 (-3.36%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners99.2%
Inst Owner Change-1.28%
Ins Owners0.88%
Ins Owner Change3.45%
Market Cap3.76B
Revenue(TTM)759.31M
Net Income(TTM)41.20M
Analysts76
Price Target36.59 (-24.9%)
Short Float %3.92%
Short Ratio2.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)9.03%
Min EPS beat(2)-11.93%
Max EPS beat(2)29.99%
EPS beat(4)2
Avg EPS beat(4)7.02%
Min EPS beat(4)-11.93%
Max EPS beat(4)29.99%
EPS beat(8)4
Avg EPS beat(8)3.81%
EPS beat(12)8
Avg EPS beat(12)10.7%
EPS beat(16)12
Avg EPS beat(16)10.73%
Revenue beat(2)1
Avg Revenue beat(2)0.14%
Min Revenue beat(2)-0.65%
Max Revenue beat(2)0.94%
Revenue beat(4)1
Avg Revenue beat(4)-0.92%
Min Revenue beat(4)-2.8%
Max Revenue beat(4)0.94%
Revenue beat(8)3
Avg Revenue beat(8)-0.35%
Revenue beat(12)6
Avg Revenue beat(12)-0.12%
Revenue beat(16)7
Avg Revenue beat(16)-0.33%
PT rev (1m)8.3%
PT rev (3m)5.51%
EPS NQ rev (1m)15.52%
EPS NQ rev (3m)-0.16%
EPS NY rev (1m)12.37%
EPS NY rev (3m)-4.87%
Revenue NQ rev (1m)4.75%
Revenue NQ rev (3m)4.43%
Revenue NY rev (1m)1.34%
Revenue NY rev (3m)1.73%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.29 | ||
| Fwd PE | 30.43 | ||
| P/S | 4.95 | ||
| P/FCF | 626.13 | ||
| P/OCF | 35.78 | ||
| P/B | 3.72 | ||
| P/tB | 4.69 | ||
| EV/EBITDA | 44.01 |
EPS(TTM)1.1
EY2.26%
EPS(NY)1.6
Fwd EY3.29%
FCF(TTM)0.08
FCFY0.16%
OCF(TTM)1.36
OCFY2.79%
SpS9.85
BVpS13.1
TBVpS10.38
PEG (NY)9.33
PEG (5Y)21.81
Graham Number18.01
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.42% | ||
| ROE | 4.08% | ||
| ROCE | 3.92% | ||
| ROIC | 3.53% | ||
| ROICexc | 4.69% | ||
| ROICexgc | 6.33% | ||
| OM | 5.54% | ||
| PM (TTM) | 5.43% | ||
| GM | 38.41% | ||
| FCFM | 0.79% |
ROA(3y)6.19%
ROA(5y)6.99%
ROE(3y)7.57%
ROE(5y)8.71%
ROIC(3y)4.11%
ROIC(5y)6.44%
ROICexc(3y)5.95%
ROICexc(5y)9.38%
ROICexgc(3y)9.28%
ROICexgc(5y)16.21%
ROCE(3y)4.57%
ROCE(5y)7.16%
ROICexgc growth 3Y-30.53%
ROICexgc growth 5Y-14.83%
ROICexc growth 3Y-26.82%
ROICexc growth 5Y-8.19%
OM growth 3Y-24.27%
OM growth 5Y-7.33%
PM growth 3Y-5.61%
PM growth 5Y6.58%
GM growth 3Y-1.62%
GM growth 5Y0.02%
F-Score5
Asset Turnover0.63
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.01 | ||
| Debt/FCF | 2 | ||
| Debt/EBITDA | 0.14 | ||
| Cap/Depr | 270.03% | ||
| Cap/Sales | 13.04% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 133.35% | ||
| Profit Quality | 14.56% | ||
| Current Ratio | 4.3 | ||
| Quick Ratio | 3.46 | ||
| Altman-Z | 13.44 |
F-Score5
WACC10.69%
ROIC/WACC0.33
Cap/Depr(3y)146.02%
Cap/Depr(5y)140.46%
Cap/Sales(3y)7.39%
Cap/Sales(5y)7.77%
Profit Quality(3y)85.29%
Profit Quality(5y)97.44%
High Growth Momentum
Growth
EPS 1Y (TTM)1.85%
EPS 3Y-10.05%
EPS 5Y2.03%
EPS Q2Q%-5.71%
EPS Next Y4.75%
EPS Next 2Y18%
EPS Next 3Y12.02%
EPS Next 5Y18.19%
Revenue 1Y (TTM)2.29%
Revenue growth 3Y-0.26%
Revenue growth 5Y5.31%
Sales Q2Q%-2.52%
Revenue Next Year1.8%
Revenue Next 2Y5.94%
Revenue Next 3Y4.3%
Revenue Next 5Y7.45%
EBIT growth 1Y-6.09%
EBIT growth 3Y-24.47%
EBIT growth 5Y-2.41%
EBIT Next Year24.54%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y57.89%
FCF growth 3Y3.15%
FCF growth 5Y-4.4%
OCF growth 1Y37.8%
OCF growth 3Y-5.4%
OCF growth 5Y-0.5%
FORMFACTOR INC / FORM FAQ
What is the fundamental rating for FORM stock?
ChartMill assigns a fundamental rating of 5 / 10 to FORM.
What is the valuation status of FORMFACTOR INC (FORM) stock?
ChartMill assigns a valuation rating of 2 / 10 to FORMFACTOR INC (FORM). This can be considered as Overvalued.
What is the profitability of FORM stock?
FORMFACTOR INC (FORM) has a profitability rating of 5 / 10.
What is the financial health of FORMFACTOR INC (FORM) stock?
The financial health rating of FORMFACTOR INC (FORM) is 7 / 10.