$982.4 M

FORM Mkt cap, 20-Sep-2018

$253.8 M

FormFactor Revenue Q2, 2018
FormFactor Gross profit (Q2, 2018)101.3 M
FormFactor Gross profit margin (Q2, 2018), %39.9%
FormFactor Net income (Q2, 2018)11.2 M
FormFactor EBIT (Q2, 2018)14.9 M
FormFactor Cash, 30-Jun-201895.6 M

FormFactor Revenue

FormFactor revenue was $548.44 m in FY, 2017 which is a 42.9% year over year increase from the previous period.

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FormFactor Revenue Breakdown

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FormFactor revenue breakdown by business segment: 82.9% from Prode Cards and 17.1% from Systems

FormFactor revenue breakdown by geographic segment: 8.2% from Europe , 17.7% from Taiwan , 34.0% from United States, 8.1% from Japan , 16.6% from Asia-Pacific, 14.9% from South Korea and 0.5% from Other

FormFactor Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

231.5 m268.5 m282.4 m383.9 m548.4 m

Revenue growth, %

16%5%36%43%

Cost of goods sold

189.2 m50.3 m196.6 m281.2 m332.8 m

Gross profit

42.3 m218.2 m85.7 m102.7 m215.6 m

Gross profit Margin, %

18%81%30%27%39%

R&D expense

57.5 m73.8 m

General and administrative expense

73.4 m94.7 m

Operating expense total

130.9 m169.3 m

EBIT

(58.8 m)(20.6 m)(4.1 m)(47.9 m)46.3 m

EBIT margin, %

(25%)(8%)(1%)(12%)8%

Interest expense

4.5 m

Interest income

548 k

Pre tax profit

(57.8 m)(3.1 m)(1.3 m)(50.2 m)42.2 m

Income tax expense

1.3 m

Net Income

(57.7 m)(19.2 m)(1.5 m)(6.6 m)40.9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Revenue

67.6 m56 m67.4 m73.9 m70.8 m73.9 m65.9 m53.6 m83.1 m123.3 m128.8 m144 m118.3 m253.8 m

Cost of goods sold

55.1 m43.6 m47.3 m49.8 m48 m50.6 m47.4 m43.8 m57.7 m96.1 m81.3 m82.2 m73.2 m152.5 m

Gross profit

12.5 m12.3 m20 m24.1 m22.8 m23.3 m18.5 m9.8 m25.4 m27.2 m47.6 m61.8 m45.1 m101.3 m

Gross profit Margin, %

19%22%30%33%32%32%28%18%31%22%37%43%38%40%

R&D expense

10.3 m9.7 m11.1 m11.2 m11.1 m11.2 m10.6 m10.8 m11.1 m17.3 m17.4 m18.5 m18 m37.7 m

General and administrative expense

13 m12.3 m13.2 m13.3 m11.9 m11.4 m11.1 m12.5 m14 m23 m22.8 m23.6 m23.4 m48.7 m

Operating expense total

23.4 m24.7 m24.3 m24.6 m23.5 m22.6 m21.8 m23.4 m32.1 m40.3 m40.5 m42.2 m41.5 m86.4 m

EBIT

(10.9 m)(12.4 m)(4.3 m)(479 k)(682 k)697 k(3.4 m)(13.6 m)(6.6 m)(13.2 m)7.1 m19.6 m3.6 m14.9 m

EBIT margin, %

(16%)(22%)(6%)(1%)(1%)1%(5%)(25%)(8%)(11%)5%14%3%6%

Interest expense

1.2 m967 k1.9 m

Interest income

93 k257 k583 k

Pre tax profit

(10.9 m)(12.4 m)(4.4 m)(176 k)904 k862 k(2.3 m)(13.8 m)(6.9 m)(14.1 m)5.6 m18.6 m2.4 m13.2 m

Income tax expense

(147 k)308 k(51 k)100 k121 k24 k215 k30 k(43.7 m)50 k367 k1 m287 k1.9 m

Net Income

(10.7 m)(12.7 m)(4.3 m)(277 k)783 k838 k(2.5 m)(13.8 m)36.9 m(14.2 m)5.2 m17.6 m2.1 m11.2 m

FormFactor Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

59.2 m113.9 m146.3 m101.4 m91.2 m

Accounts Receivable

30.2 m45.2 m36.7 m70.2 m81.5 m

Inventories

6.1 m6.9 m6.5 m59.8 m67.8 m

Current Assets

211.7 m244.3 m258 m254.7 m305.9 m

PP&E

35.2 m25.5 m23.9 m42.7 m46.8 m

Goodwill

30.7 m30.7 m30.7 m188 m189.9 m

Total Assets

340.7 m344.2 m342.7 m619 m646.6 m

Accounts Payable

16.3 m20.3 m18.1 m34.1 m35 m

Short-term debt

Current Liabilities

37.8 m47.9 m43.6 m82.7 m92.2 m

Long-term debt

105.7 m

Total Debt

105.7 m

Total Liabilities

217.9 m187.9 m

Common Stock

73 k

Additional Paid-in Capital

695.6 m711.7 m718.9 m833.3 m843.1 m

Retained Earnings

(401.4 m)(420.5 m)(422.1 m)(428.6 m)(387.6 m)

Total Equity

294.1 m289.4 m294.7 m401.1 m458.6 m

Financial Leverage

1.2 x1.2 x1.2 x1.5 x1.4 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018Q2, 2018

Cash

59.5 m49.2 m69.9 m89.3 m126 m137.1 m142.2 m151.9 m100.2 m99.9 m114.4 m107.8 m93.7 m95.6 m

Accounts Receivable

46.3 m37.1 m42 m47.8 m41.1 m44 m36.7 m35.7 m86.1 m77.5 m79.4 m

Inventories

22.4 m21.3 m22.1 m25.9 m24.6 m24.2 m27 m31 m68.4 m60.7 m60.4 m65 m73.8 m76.4 m

Current Assets

237.9 m213.3 m224.2 m239.4 m245.5 m256.6 m256.1 m258.3 m284.4 m260.1 m274.2 m300.7 m311.8 m324.3 m

PP&E

36.9 m30 m29.2 m26.6 m25.1 m24.5 m23.8 m23.7 m43.8 m42.7 m45.2 m

Goodwill

30.7 m30.7 m30.7 m30.7 m30.7 m30.7 m30.7 m30.7 m188.5 m188.8 m188.2 m189.2 m190.4 m189.5 m

Total Assets

372.9 m332.2 m337.1 m344.5 m341.5 m348.8 m344.2 m340.5 m695.3 m650.3 m632.7 m653.4 m646.2 m651.2 m

Accounts Payable

28.7 m15.9 m18.4 m21.3 m16.1 m21.4 m21.2 m28.6 m54.1 m41.6 m43.3 m43.2 m38.9 m42.1 m

Current Liabilities

51.9 m37.8 m43.3 m46.5 m39.3 m47.1 m44 m49.6 m118.8 m85 m90.8 m104.6 m96.6 m110.4 m

Total Liabilities

62.3 m46.7 m52.1 m55.3 m46.2 m53.7 m50.7 m54.3 m271.7 m234.7 m217.3 m218.8 m175.2 m172.6 m

Additional Paid-in Capital

692.9 m699.6 m703.1 m708.4 m716.8 m715.9 m717.1 m723.6 m823.2 m828.6 m840.7 m839.8 m851.2 m853.3 m

Retained Earnings

(382.6 m)(414.1 m)(418.4 m)(418.7 m)(419.8 m)(418.9 m)(421.4 m)(435.9 m)(399 m)(413.2 m)(423.3 m)(405.7 m)(385.5 m)(376.4 m)

Total Equity

310.7 m285.5 m295 m293.5 m286.2 m423.6 m415.6 m415.4 m434.6 m471 m478.7 m

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.2 x1.6 x1.6 x1.5 x1.5 x1.4 x1.4 x

FormFactor Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(57.7 m)(19.2 m)(1.5 m)(6.6 m)40.9 m

Depreciation and Amortization

28.9 m30.5 m23.8 m46.8 m13.6 m

Accounts Receivable

(2.1 m)(16 m)8.3 m(6.8 m)(10.7 m)

Inventories

(8 m)(12 m)(8.2 m)(11.7 m)(15.6 m)

Accounts Payable

(2.3 m)4.2 m(2 m)3.4 m741 k

Cash From Operating Activities

(5.8 m)17.7 m36.1 m17.4 m86.3 m

Purchases of PP&E

(8.5 m)(5.7 m)(8.6 m)(11.5 m)(17.8 m)

Cash From Investing Activities

(7.8 m)37.3 m1.1 m(206.3 m)(59.7 m)

Long-term Borrowings

(33.1 m)

Cash From Financing Activities

2 m2.5 m(4.8 m)143.6 m(39.5 m)

Net Change in Cash

(10.2 m)

Interest Paid

2.1 m3.8 m

Income Taxes Paid

3.2 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018Q2, 2018

Net Income

(10.7 m)(12.7 m)(4.3 m)(277 k)783 k838 k(2.5 m)(13.8 m)36.9 m(14.2 m)5.2 m2.1 m11.2 m

Depreciation and Amortization

10.7 m21.3 m

Accounts Receivable

44 m36.7 m35.7 m86.1 m77.5 m79.4 m3.4 m(3.3 m)

Inventories

(7.4 m)(13.7 m)

Accounts Payable

21.4 m21.2 m28.6 m54.1 m41.6 m43.3 m3 m6.2 m

Cash From Operating Activities

9.3 m30.1 m

Purchases of PP&E

(3.8 m)(8.5 m)

Cash From Investing Activities

(3.4 m)(7 m)

Cash From Financing Activities

(4.4 m)(18.9 m)

Interest Paid

826 k1.6 m

Income Taxes Paid

771 k1.2 m

FormFactor Ratios

USDY, 2018

Financial Leverage

1.4 x
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FormFactor Operating Metrics

FY, 2014FY, 2015FY, 2016

Manufacturing Facilities (Americas)

3 3 5

Manufacturing Facilities (Asia-Pacific)

2 2 2

Manufacturing Facilities (EMEA)

2
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