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Equiscale · Syntellia LLC
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. The company 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 memory; NOR flash memory; and quantum computer processor devices. It also offers analytical probes, which are used for device characterization, electrical simulation model development, failure analysis, and prototype design debugging; probe stations, a critical tool for the development of new generations of semiconductor and electro-optical processes and designs; and thermal subsystems, which include thermal chucks and other test systems used in probe stations and other applications for precise temperature management. In addition, the company provides cryogenic systems, which includes the manufacture of precision cryogenic instruments and semiconductor test and measurement systems; and services and support, including installation services. Further, it offers on-site probe card maintenance and service training, seminars, and telephone support services. It markets and sells its products through direct sales force, manufacturers' representatives, and distributors. The company was incorporated in 1993 and is headquartered in Livermore, California.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $785M | $108M | $54M | $12M | 5.3% | 2.8% | -21.9% |
| 2024 | $764M | $113M | $70M | $79M | 7.3% | 15.2% | -15.5% |
| 2023 | $663M | $127M | $82M | $9M | 9.1% | -11.3% | 62.4% |
| 2022 | $748M | $96M | $51M | $67M | 6.3% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 747.94 | 663.10 | 763.60 | 784.99 |
| Operating Revenue | - | 747.94 | 663.10 | 763.60 | 784.99 |
| Cost Of Revenue | - | 451.93 | 404.52 | 455.68 | 476.14 |
| Gross Profit | - | 296.01 | 258.58 | 307.92 | 308.85 |
| Operating Expense | - | 241.10 | 248.78 | 263.72 | 248.76 |
| Research And Development | - | 109.22 | 115.76 | 121.94 | 115.68 |
| Selling General And Administration | - | 131.88 | 133.01 | 141.79 | 133.07 |
| Total Expenses | - | 693.02 | 653.30 | 719.40 | 724.90 |
| Operating Income | - | 54.91 | 9.80 | 44.20 | 60.10 |
| Total Operating Income As Reported | - | 54.91 | 82.76 | 64.78 | 57.07 |
| EBITDA | - | 96.49 | 127.14 | 112.73 | 107.50 |
| Normalized EBITDA | - | 96.49 | 54.19 | 92.15 | 110.53 |
| EBIT | - | 58.45 | 89.69 | 79.83 | 69.91 |
| Interest Income | - | 2.22 | 7.22 | 14.11 | 10.64 |
| Interest Expense | - | 0.58 | 0.42 | 0.42 | 0.52 |
| Net Interest Income | - | 1.64 | 6.80 | 13.69 | 10.12 |
| Other Non Operating Income Expenses | - | 1.32 | -0.28 | 0.94 | 2.20 |
| Other Income Expense | - | 1.32 | 72.67 | 21.52 | -0.82 |
| Interest Income Non Operating | - | 2.22 | 7.22 | 14.11 | 10.64 |
| Interest Expense Non Operating | - | 0.58 | 0.42 | 0.42 | 0.52 |
| Net Non Operating Interest Income Expense | - | 1.64 | 6.80 | 13.69 | 10.12 |
| Pretax Income | - | 57.87 | 89.27 | 79.41 | 69.39 |
| Tax Provision | - | 7.13 | 6.88 | 9.80 | 13 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 5.62 | 2.53 | -0.57 |
| Net Income Continuous Operations | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Net Income From Continuing And Discontinued Operation | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Net Income From Continuing Operation Net Minority Interest | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Net Income | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Net Income Common Stockholders | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Net Income Including Noncontrolling Interests | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Normalized Income | - | 50.74 | 15.05 | 51.56 | 56.82 |
| Diluted NI Availto Com Stockholders | - | 50.74 | 82.39 | 69.61 | 54.36 |
| Basic Average Shares | - | 77.58 | 77.37 | 77.34 | 77.35 |
| Diluted Average Shares | - | 78.20 | 78.16 | 78.44 | 78.31 |
| Reconciled Depreciation | - | 38.04 | 37.45 | 32.90 | 37.59 |
| Reconciled Cost Of Revenue | - | 451.93 | 404.52 | 455.68 | 476.14 |
| Total Unusual Items | - | 0 | 72.95 | 20.58 | -3.02 |
| Total Unusual Items Excluding Goodwill | - | 0 | 72.95 | 20.58 | -3.02 |
| Earnings From Equity Interest Net Of Tax | - | - | 0 | 0 | -2.03 |
| Special Income Charges | - | 0 | 72.95 | 20.58 | -3.02 |
| Gain On Sale Of Business | - | 0 | 72.95 | 20.58 | 0 |
| Other Special Charges | - | - | - | - | 3.02 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| FormFactor, Inc.this co. | FORM | $9.9B | 181.56↑ premium | 9.53 | 5.3% | 89.55 |
| Leidos Holdings, Inc. | LDOS | $15.7B | 10.82 | 3.19 | 29.5% | 8.24 |
| Sanmina Corporation | SANM | $15.0B | 61.06 | 6.38 | 10.4% | 30.04 |
| Trimble Inc. | TRMB | $13.0B | 30.62 | 2.22 | 7.3% | 18.02 |
| Tyler Technologies, Inc. | TYL | $12.7B | 40.17 |
| - |
| - |
| - |
| - |
| 3.42 |
| 8.5% |
| 22.50 |
| Zebra Technologies Corporation | ZBRA | $11.7B | 27.91 | 3.26 | 11.7% | 16.72 |
| GoDaddy Inc. | GDDY | $11.2B | 12.84 | 52.23 | 406.8% | 10.88 |
| Gartner, Inc. | IT | $11.0B | 15.14 | 34.50 | 228.0% | 9.79 |
| Jack Henry & Associates, Inc. | JKHY | $9.3B | 20.38 | 4.36 | 21.4% | 11.65 |
| Peer Median | - | 24.14 | 3.89 | 16.5% | 14.19 | |
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historically, Jun has averaged the highest return (+10.2%); Jul the lowest (-10.0%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +26.4%Positive MonthJan 2026: +26.37% | +40.3%Positive MonthFeb 2026: +40.28% | -1.9%Neutral MonthMar 2026: -1.91% | +40.1%Positive MonthApr 2026: +40.15% | -8.3%Negative MonthMay 2026: -8.34% | +28.4%Positive MonthJun 2026: +28.37% | -33.6%Negative MonthJul 2026: -33.60% | +8.2%*Positive MonthAug 2026: +8.24% | — | — | — | — |
| 2025 | -9.0%Negative MonthJan 2025: -8.98% | -16.9%Negative MonthFeb 2025: -16.85% | -15.0%Negative MonthMar 2025: -15.05% | -0.5%Neutral MonthApr 2025: -0.53% | +6.1%Positive MonthMay 2025: +6.08% | +15.3%Positive MonthJun 2025: +15.28% | -17.4%Negative MonthJul 2025: -17.44% | +2.7%Positive MonthAug 2025: +2.75% | +24.8%Positive MonthSep 2025: +24.77% | +50.9%Positive MonthOct 2025: +50.88% | +0.1%Neutral MonthNov 2025: +0.13% | +1.4%Neutral MonthDec 2025: +1.38% |
| 2024 | -7.0%Negative MonthJan 2024: -7.05% | +11.0%Positive MonthFeb 2024: +10.99% | +6.0%Positive MonthMar 2024: +6.04% | -2.3%Negative MonthApr 2024: -2.28% | +22.7%Positive MonthMay 2024: +22.72% | +10.6%Positive MonthJun 2024: +10.62% | -11.5%Negative MonthJul 2024: -11.51% | -8.9%Negative MonthAug 2024: -8.94% | -5.7%Negative MonthSep 2024: -5.68% | -17.4%Negative MonthOct 2024: -17.43% | +5.5%Positive MonthNov 2024: +5.48% | +9.8%Positive MonthDec 2024: +9.84% |
| 2023 | +26.6%Positive MonthJan 2023: +26.59% | +7.0%Positive MonthFeb 2023: +6.97% | +5.8%Positive MonthMar 2023: +5.81% | -14.3%Negative MonthApr 2023: -14.25% | +14.6%Positive MonthMay 2023: +14.57% | +9.4%Positive MonthJun 2023: +9.36% | +8.6%Positive MonthJul 2023: +8.59% | -5.0%Negative MonthAug 2023: -4.95% | -1.1%Neutral MonthSep 2023: -1.08% | -3.0%Negative MonthOct 2023: -3.03% | +10.9%Positive MonthNov 2023: +10.92% | +11.0%Positive MonthDec 2023: +10.99% |
| 2022 | -6.5%Negative MonthJan 2022: -6.52% | -5.3%Negative MonthFeb 2022: -5.26% | +3.8%Positive MonthMar 2022: +3.80% | -9.3%Negative MonthApr 2022: -9.33% | +7.7%Positive MonthMay 2022: +7.74% | -5.7%Negative MonthJun 2022: -5.67% | -8.2%Negative MonthJul 2022: -8.18% | -17.7%Negative MonthAug 2022: -17.66% | -14.4%Negative MonthSep 2022: -14.45% | -19.3%Negative MonthOct 2022: -19.32% | +14.2%Positive MonthNov 2022: +14.15% | -3.6%Negative MonthDec 2022: -3.64% |
| 2021 | — | — | — | — | -10.0%Negative MonthMay 2021: -9.96% | +3.4%Positive MonthJun 2021: +3.43% | +2.2%Positive MonthJul 2021: +2.19% | +4.3%Positive MonthAug 2021: +4.35% | -4.0%Negative MonthSep 2021: -3.99% | +6.6%Positive MonthOct 2021: +6.56% | +5.4%Positive MonthNov 2021: +5.38% | +9.1%Positive MonthDec 2021: +9.06% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
