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Intrinsic value of FormFactor, Inc. (FORM)

Previous Close$26.98
Intrinsic Value
Upside potential
Previous Close
$26.98

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh13.48 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

FormFactor, Inc. designs, manufactures, and sells probe cards, analytical probes, probe stations, metrology systems, and thermal sub-systems. It operates in two segments, Probe Cards and Systems. The company offers probe cards to test various semiconductor device types, including systems on a chip, mobile application processors, microprocessors, microcontrollers, graphic processors, radio frequency, analog, mixed signal, image sensors, electro-optical, DRAM memory, NAND flash memory and NOR flash memory devices; and analytical probes, which are used for a range of applications, including device characterization, electrical simulation model development, failure analysis, and prototype design debugging for universities, research institutions, semiconductor integrated device manufacturers, semiconductor foundries, and fabless semiconductor companies. It also provides probing stations for semiconductor design engineers to capture and analyze data and integrated measurement systems that include test instrumentation, probe, cabling configurations, and software to enable fast, accurate, and on-wafer data collection for complex application and measurement needs; metrology systems for various applications including the development, production, and quality control of semiconductor products; and thermal subsystems that produce thermal chucks and other test systems used in probe stations. In addition, the company offers on-site probe card maintenance and service training, seminars, and telephone support services. FormFactor, Inc. markets and sells its products through direct sales force, manufacturers' representatives, and distributors in the United States, Taiwan, South Korea, China, Japan, Europe, the Asia-Pacific, and internationally. The company was founded in 1993 and is headquartered in Livermore, California.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %11.0NaN
Revenue, $770NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m672NaN
Operating income, $m98NaN
EBITDA, $m150NaN
Interest expense (income), $mNaN
Earnings before tax, $m99NaN
Tax expense, $m15NaN
Net income, $m84NaN

BALANCE SHEET

Cash and short-term investments, $m278NaN
Total assets, $m1021NaN
Adjusted assets (=assets-cash), $m743NaN
Average production assets, $m419NaN
Working capital, $m375NaN
Total debt, $m63NaN
Total liabilities, $m205NaN
Total equity, $m816NaN
Debt-to-equity ratio0.077NaN
Adjusted equity ratio0.747NaN

CASH FLOW

Net income, $m84NaN
Depreciation, amort., depletion, $m52NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m147NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-66NaN
Free cash flow, $m213NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m375
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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