FORMFACTOR Reports Q2 FY2023 Earnings Results on June 30, 2023
August 7, 2023
🌥️Earnings Overview
FORMFACTOR ($NASDAQ:FORM) reported total revenue of USD 155.9 million for the second quarter of FY2023, a 23.5% decrease from the same quarter in the prior year. Net income for the quarter was USD 0.83 million, a 97.3% decrease year-over-year, on June 30, 2023.
Market Price
On Wednesday, June 30, 2023, FORMFACTOR reported their Q2 FY2023 earnings results. At the opening, the FORMFACTOR stock was trading at $36.5, however by the end of the day it had fallen to $36.0, a 3.1% decrease from its previous closing price of $37.2. The decrease follows a positive performance over the past two quarters where FORMFACTOR stock has risen steadily. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Formfactor. More…
| Total Revenues | Net Income | Net Margin |
| 670.22 | -7.21 | -1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Formfactor. More…
| Operations | Investing | Financing |
| 79.77 | -83.06 | -34.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Formfactor. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.03k | 190.88 | 10.81 |
Key Ratios Snapshot
Some of the financial key ratios for Formfactor are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.7% | 3.4% | -1.6% |
| FCF Margin | ROE | ROA |
| 0.7% | -0.8% | -0.7% |
Analysis
At GoodWhale, we have conducted a thorough analysis of FORMFACTOR‘s wellbeing. After looking into the company’s financial and business aspects, we have concluded that FORMFACTOR is a low risk investment. However, during our analysis, we have detected one risk warning in the balance sheet which investors should be aware of. To gain more detailed information on this, register on our website (goodwhale.com). Our website provides detailed insights into the company’s financials and other aspects. More…
Peers
FormFactor Inc is in competition with Silex Systems Ltd, KLA Corp, and Woojin Inc. All four companies are vying for a spot in the market for semiconductor equipment. FormFactor has the most experience in the industry, but its competitors are quickly catching up.
– Silex Systems Ltd ($ASX:SLX)
Silex Systems Ltd is a publicly traded Australian company with a market capitalization of 605.67 million as of 2022. The company provides nuclear and particle physics products and services, as well as clean energy technologies. Its return on equity for the same year was -11.19%.
Silex Systems was founded in 1984 and is headquartered in Canberra, Australia. The company’s products and services are used in a variety of industries, including healthcare, mining, and manufacturing.
– KLA Corp ($NASDAQ:KLAC)
As of 2022, KLA Corp has a market cap of 41.21B and a Return on Equity of 126.76%. The company is a leading provider of process control and yield management solutions for the semiconductor and other nanoelectronics industries.
– Woojin Inc ($KOSE:105840)
Woojin Inc is a publicly traded company with a market capitalization of 172.61 billion as of 2022. The company has a return on equity of 6.36%. Woojin Inc is a conglomerate with interests in construction, electronics, and logistics. The company is headquartered in Seoul, South Korea.
Summary
FORMFACTOR‘s second quarter of FY2023 saw a steep decline in earnings, with total revenue dropping 23.5% to USD 155.9 million and net income falling 97.3% to just USD 0.83 million. This caused the stock price to drop on the same day, prompting investors to reassess their position in the company. With such a drastic downturn in performance, the future of FORMFACTOR is uncertain and investors are advised to carefully consider their options before investing in this stock.
