Formfactor Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Formfactor Inc (FORM) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Formfactor Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 981M vs 155,403M combined for its competitors (0.6% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+14.4% annualized vs trailing 12 months), vs accelerating (+7.8%) for its tracked peer group.
- Growth: Formfactor Inc generated 38.5% revenue growth year over year in Q3 2026, vs 17.5% for its competitors combined.
- Profitability: Its 26.3% net margin compares with 21.4% for the peer group.
- Scale: Formfactor Inc ranks #38 of 115 companies by market capitalization in the Semiconductors industry, holding 0.1% of industry market cap.
- Peer revenue share: Formfactor Inc accounted for 0.7% of combined revenue among its tracked peer group, up from 0.6% a year earlier.
- Peer differentiation: Revenue per employee of $0.46M compares with $1.11M for the peer group (0.4x).
- Structure: Formfactor Inc operates in the following segments: Probe Cards, Systems.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
FORM Sales vs. its Competitors, Q3 2026
Formfactor Inc reported revenue growth of 38.46 % year on year in Q3 2026, above its competitors' combined revenue growth of 17.51 %.
With a net margin of 26.31 %, Formfactor Inc achieved higher profitability than its competitors (21.43 %).
Formfactor Inc generated 0.67 % of the combined sales of its peer group, up from 0.57 % a year earlier.
API endpoints for this dataset
Formfactor Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Formfactor Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Formfactor Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Formfactor inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (1) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Formfactor Inc's competitor groups requires a Commercial License.
For context: the Semiconductors industry grew revenue 48.1% year over year, combined, vs 38.5% for Formfactor Inc. Formfactor Inc's share of combined industry revenue moved from 0.05% to 0.05%, a gain of 0.00 percentage points.
Formfactor Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Formfactor inc | Yes | Yes | Yes | No |
| Competitors combined (34) | ||||
| High-Confidence Competitors (4) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
FORM Stock Performance relative to its Competitors
FORM Stock Performance relative to High-Confidence Competitors
FORM Stock Performance relative to Similar-Size Competitors
FORM Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Skywater Technology Inc | 282.9% | Outperformed |
| 2 | Aehr Test Systems | 282.9% | Outperformed |
| 3 | Ase Technology Holding Co Ltd | 282.9% | Outperformed |
| 4 | Transcat Inc | 282.9% | Outperformed |
| 5 | Kulicke And Soffa Industries Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Formfactor Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Formfactor Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of Formfactor inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Formfactor inc |
6,444.74 | 981.35 |
 Taiwan Semiconductor Manufacturing Company Limited |
1,947,076.89 | 121,423.20 |
 Asml Holding Nv |
554,085.28 | 36,921.92 |
 Applied Materials Inc |
266,172.00 | 30,837.00 |
 Thermo Fisher Scientific Inc |
257,755.96 | 47,351.00 |
 Lam Research Corporation |
251,706.14 | 26,127.94 |
| SUBTOTAL | 4,038,520.50 | 604,704.60 |
Sign in to see all competitors of Formfactor inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Formfactor inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Formfactor Inc's Competitors Named by the Company
Competitive relationships identified from Formfactor Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| TechnoProbe Co., Ltd. | Company report | 85% |
| MPI Corporation | Company report | 85% |
| STAr Technologies, Inc. | Company report | 85% |
| Japan Electronic Materials Corporation | Company report | 85% |
| TSE Co., Ltd. | Company report | 85% |
| Max One | Company report | 85% |
| Korea Instrument Co., Ltd. | Company report | 85% |
| Micronics Japan Co., Ltd. | Company report | 85% |
| Chungwa Precision Technology | Company report | 85% |
| WinWay Technology Co., Ltd. | Company report | 85% |
| Microfriend Inc. | Company report | 85% |
| Nidec SV TCL | Company report | 85% |
| Feinmetall GmbH | Company report | 85% |
| Synergie CAD | Company report | 85% |
| Yokowo | Company report | 85% |
| Soulbrain Engineering | Company report | 85% |
| WILL-Technology Co., Ltd. | Company report | 85% |
| GGB Industries Inc. | Company report | 85% |
| Micro Square Technology Inc. | Company report | 85% |
| NHK Spring Co., Ltd. | Company report | 85% |
| M2N Co., Ltd. | Company report | 85% |
| AMST Co., Ltd. | Company report | 85% |
| MPI/Allstron | Company report | 85% |
| Cohu Inc | Company report | 85% |
| Teradyne Inc | Company report | 85% |
| Kulicke And Soffa Industries Inc | Company report | 85% |
| Onto Innovation Inc | Company report | 85% |
| Aehr Test Systems | Company report | 85% |
| Agilent Technologies inc | Company report | 85% |
| Viavi Solutions Inc | Company report | 85% |
| Camtek Ltd | Company report | 85% |
| Kla Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Formfactor Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Formfactor Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Formfactor inc | Probe Cards 78.81 % |
| Applied Materials Inc | Semiconductor Systems 75.41 % |
| Thermo Fisher Scientific Inc | Clinical Research 20.15 % |
| Lam Research Corporation | Reportable 100.00 % |
| Kla Corporation | Semiconductor Process Control 90.77 % |
| Danaher Corporation | Diagnostics 43.97 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Formfactor Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Formfactor inc | 6,445 | 455,804 | 80,645 |
| Taiwan Semiconductor Manufacturing Company Limited | 1,947,077 | 1,713,299 | 762,463 |
| Asml Holding Nv | 554,085 | 835,168 | 245,755 |
| Applied Materials Inc | 266,172 | 844,849 | 253,890 |
| Thermo Fisher Scientific Inc | 257,756 | 378,808 | 56,712 |
| Lam Research Corporation | 251,706 | 1,121,371 | 362,656 |
| PEERS TOTAL | 4,032,076 | 1,110,022 | 202,153 |
Formfactor Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Formfactor inc | Europe 2.80 % |
| Asml Holding Nv | Rest of Europe and Middle East 1.43 % |
| Applied Materials Inc | Taiwan 27.24 % |
| Thermo Fisher Scientific Inc | North America 51.63 % |
| Lam Research Corporation | China 35.11 % |
| Kla Corporation | China 34.47 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Formfactor Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 107 companies in Formfactor Inc's industry classification, broader than the peer set above. Market cap in millions of $.Formfactor Inc ranks #38 of 107 companies by market capitalization in its industry, holding 0.06 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 2,187, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Nvidia Corp | 4,532,552 | 45.12 % |
| 3 | Micron Technology Inc | 790,050 | 7.86 % |
| 4 | Advanced Micro Devices Inc | 744,957 | 7.42 % |
| 5 | Intel Corporation | 287,253 | 2.86 % |
| 6 | Applied Materials Inc | 1,234 | 5.2% |
| 7 | Texas Instruments Incorporated | 1,234 | 5.2% |
| 8 | Arm Holdings Plc | 1,234 | 5.2% |
| 9 | Analog Devices Inc | 1,234 | 5.2% |
| 10 | United Microelectronics Corporation | 1,234 | 5.2% |
| 11 | Marvell Technology Inc | 1,234 | 5.2% |
| 38 | Formfactor inc | 6,458 | 0.06 % |
Market cap and industry share for the rest of Formfactor Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Formfactor Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 33 | Rambus Inc | 8,197 | -31.26 % |
| 34 | Sanmina Corporation | 7,425 | -23.28 % |
| 35 | Silicon Laboratories Inc | 7,355 | 71.31 % |
| 36 | Ttm Technologies Inc | 7,155 | -4.80 % |
| 37 | Viavi Solutions Inc | 1,234 | 12.3% |
| 38 | Formfactor inc | 6,458 | 44.78 % |
| 39 | Cirrus Logic Inc | 1,234 | 12.3% |
| 40 | Silicon Motion Technology Corporation | 1,234 | 12.3% |
| 41 | Allegro Microsystems Inc | 1,234 | 12.3% |
| 42 | Plexus Corp | 1,234 | 12.3% |
| 43 | Maxlinear Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Formfactor Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Formfactor Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Semiconductors industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (180 companies). See the full Semiconductors industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 47.07 % | 29.37 % (avg) | +17.7 pp |
| Operating Margin | 18.29 % | industry median | +10.4 pp |
| EBITDA Margin | 24.44 % | 4.97 % (avg) | +19.5 pp |
| Capital Intensity (Capex / Revenue) | 7.72 % | 8.78 % (avg) | -1.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Formfactor Inc's Valuation vs Competitive Position
Valuation multiples vs the Semiconductors industry average (180 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Semiconductors industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 51.9x | 39.2x | +12.8x |
| EV / EBITDA | 37.4x | 21.5x | +15.9x |
| P/B | 8.3x | 6.0x | +2.3x |
| Return on Equity | 15.83 % | industry aggregate | -15.39 % |
| Return on Invested Capital | 7.90 % | -0.97 % (avg) | 8.87 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Formfactor Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -176.89 % | - | 17.67 % | 10.97 % | -2.82 % | -11.41 % | 15.14 % | 2.87 % |
| Operating Margin | -8.56 % | 8.42 % | 12.08 % | 12.74 % | 7.34 % | 12.49 % | 8.49 % | 7.27 % |
| Return on Invested Capital | 3.37 % | 3.88 % | 5.61 % | 5.89 % | 3.18 % | 4.61 % | 3.28 % | 2.71 % |
| P/E | 10.5x | 48.5x | 42.4x | 40.1x | 36.4x | 34.5x | 48.1x | 72.0x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Formfactor Inc's Strategic Group Map
Formfactor Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Formfactor Inc's trailing-12-month revenue growth of 29.4% and operating margin of 18.3% compares with an average of 29.3% growth and 15.0% margin across its 8 closest peers by combined growth, margin and ROIC -- Formfactor Inc sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Formfactor Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Formfactor Inc falls in the Question Mark quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 10.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Nvidia Corp alone holds 45% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Formfactor Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 2,187 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Moderate, in line with the industry | Capital intensity (capex / revenue) of 7.72 % vs industry average 8.78 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Formfactor Inc's dedicated Suppliers and Customers pages, not here.
Formfactor Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Formfactor Inc falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Formfactor Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 10.4 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+14.4% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 15.4 points below the industry aggregate.
- Low relative market share vs the industry leader (0.00x).
Opportunities
- Industry revenue growing at a healthy 10.2% median pace.
Threats
- Industry dominated by Nvidia Corp, holding 45.12 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Formfactor Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Formfactor inc | 0.77 | 4.13 | 0.01 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Asml Holding Nv | 0.53 | 1.26 | 0.19 |
| Applied Materials Inc | 0.79 | 2.53 | 0.29 |
| Thermo Fisher Scientific Inc | 0.39 | 1.69 | 0.81 |
| Lam Research Corporation | 0.96 | 2.46 | 0.34 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Formfactor Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Formfactor inc | Q3 2026 | +38.5 % | +371.5 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Asml Holding Nv | Q4 2025 | +20.7 % | +32.6 % |
| Applied Materials Inc | Q2 2026 | +24.8 % | +42.7 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +9.1 % | +6.2 % |
| Lam Research Corporation | Q3 2026 | +54.4 % | +75.5 % |
| PEERS TOTAL | +21.5 % | +49.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Formfactor Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Formfactor inc | Q3 2026 | +4.2 % | +428.3 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Asml Holding Nv | Q4 2025 | +16.9 % | -18.2 % |
| Applied Materials Inc | Q2 2026 | +21.1 % | +21.1 % |
| Thermo Fisher Scientific Inc | Q3 2026 | +133.0 % | +8.2 % |
| Lam Research Corporation | Q3 2026 | +48.5 % | +39.2 % |
Formfactor Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Formfactor inc | 13.22% | 14.78% | 15.83% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Asml Holding Nv | 18.31% | 35.02% | 47.20% |
| Applied Materials Inc | 23.70% | 28.79% | 41.02% |
| Thermo Fisher Scientific Inc | 6.29% | 7.46% | 13.32% |
| Lam Research Corporation | 36.73% | 48.95% | 72.18% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Formfactor Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Formfactor inc | 36.87 | 6.57 |
| Taiwan Semiconductor Manufacturing Company Limited | 70.18 | 16.04 |
| Asml Holding Nv | 57.66 | 15.01 |
| Applied Materials Inc | 28.76 | 8.63 |
| Thermo Fisher Scientific Inc | 36.72 | 5.44 |
| Lam Research Corporation | 29.87 | 9.63 |
| PEERS AVERAGE | 36.67 | 6.68 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.