2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $770M to $785M, increasing; diluted EPS 1.06 to 0.69, decreasing.
59
Median gross margin 39.6% over 10y, stable.
16
Median ROIC 7.1%, above the 12% hurdle in 20% of years.
100
Net cash position — no leverage risk.
45
Owner earnings changed +7.3%/yr over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
Above value if growth stopped todayBelow value if growth stopped today
944% above value if growth stopped today
$69.6M
$9.96
$9.96
$104.04
944% above value if growth stopped today
What today’s price assumes: owner earnings growing ~60%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).
How to read this
We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
Fundamentals
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Flagship explainer
How FormFactor, Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
Insider activity is unavailable from the source; no zero-activity claim is shown.
Unavailable: Form 4 activity could not be retrieved for this rendering.
Moat Score history
16 logged readings since Jul 17, 2026 · append-only, never rewritten
Moat Score over timeLast scored reading of each day, on the 0–100 scale50.2 / 100
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for FORM.
Technology context
#290 of 744 scored Technology companies, ranked by Moat Score.
Based on its FY2025 SEC filings, the Moat Index scores FormFactor, Inc. (FORM) 50.2 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 31, pricing power 59, returns on capital 16, balance-sheet safety 100, capital allocation 45.
Is FORM trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $9.96 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $104.04, that is 944% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has FORM's Moat Score changed over time?
The record logs 16 readings since Jul 17, 2026; the latest reads 50.2 out of 100 (shallow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.
Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FORM. See the disclaimer.