The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

FORM

Concerning the House

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.

United States · www.formfactor.com

The Long Run

FY 2011–2025 · 15 years

LineLatestCAGRTrend
Revenue$784.99M+11.6%
Gross profit$258.58M+50.8%
Operating income$57.07M+29.5%
Net income$54.36M-8.9%
Cash from ops$64.60M-4.7%
Quotation

$131.67

+2.90 (+2.3%)

52w hi$159.93
52w lo$27.85
Vol1.00M
As ofAug 13
The Verdict

Hold

Our score +0.07

Short-0.28
Medium+0.24
Long+0.43

computed 2026-08-12

By the Numbers

FormFactor, Inc.

Technology · Semiconductor Equipment & Materials

Market cap$10.26B
Enterprise value$9.74B
Trailing P/E90.81x
Forward P/E37.89x
EV / EBITDA52.17x
P / S (ttm)11.40x
Profit margin12.8%
Return on equity11.0%
Revenue growth+31.9%
Earnings growth+502.5%
Debt / equity2.69
Risk Metrics
Beta vs SPX2.39
Corr SPX0.53
Annual vol73.1%
Annual ret+80.4%
Sharpe1.10
Max DD-54.9%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.27
Sector+0.14
Technical-0.11
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-12

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$128.03$135.64$127.26$131.671.00M
Aug 12$127.80$130.47$125.54$128.771.16M
Aug 11$116.50$121.89$114.67$121.071.23M
Aug 10$119.73$120.00$112.40$112.47993.30K
Aug 7$119.90$120.68$115.22$117.39651.10K