Formfactor Stock Fair Value – FORMFACTOR Announces Earnings Results for FY2023 Q2, Ending June 30 2023
August 29, 2023
🌥️Earnings Overview
FORMFACTOR ($NASDAQ:FORM) announced its earnings report for the second quarter of the fiscal year 2023, which ended on June 30 2023, on August 2 2023. The total revenue for the quarter was USD 155.9 million, a 23.5% decrease from the same period in the previous year. Net income was USD 0.83 million, a 97.3% decline from the previous year.
Stock Price
On Wednesday, FORMFACTOR announced its earnings results for the second quarter of fiscal year 2023, ending June 30th, 2023. The stock opened at $36.5 and closed at $36.0, representing a 3.1% decrease from the previous day’s closing price of $37.2. Additionally, the company announced that it will be launching a new product in the coming months which is expected to drive new revenue growth for the company in the future. 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% | -1.4% |
| FCF Margin | ROE | ROA |
| 0.7% | -0.7% | -0.6% |
Analysis – Formfactor Stock Fair Value
At GoodWhale, we have completed an in-depth analysis of FORMFACTOR‘s fundamentals. Our proprietary Valuation Line revealed that the intrinsic value of FORMFACTOR’s share is around $36.8. In the current market, FORMFACTOR’s stock is traded at $36.0, implying a slight undervaluation of 2.1%. We believe that FORMFACTOR’s stock is fairly priced at the moment. More…
Peers
FormFactor Inc is in competition with Silex Systems Ltd, KLA Corp, and Woojin Inc. All four companies are vying for a spot in the market for semiconductor equipment. FormFactor has the most experience in the industry, but its competitors are quickly catching up.
– Silex Systems Ltd ($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 Inc. reported its financial results for the second quarter of 2023, ending June 30 2023. The company reported total revenue of USD 155.9 million, a decrease of 23.5% compared to the same period in the previous year. Net income was USD 0.83 million, down 97.3% from the same period in the previous year. In response to the announcement, FormFactor’s stock price dropped on the same day. Overall, investors may want to assess whether the disappointing performance is a blip or a deeper problem for the company. It could be a great buying opportunity if the company can turn things around quickly.
However, without a clear plan for improving its financial performance, cautious investors may want to stay away or reduce their exposure to FormFactor at this time.
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