$1 B

FORM Mkt cap, 15-Jun-2018

$118.3 M

FormFactor Revenue Q1, 2018
FormFactor Gross profit (Q1, 2018)45.1 M
FormFactor Gross profit margin (Q1, 2018), %38.2%
FormFactor Net income (Q1, 2018)2.1 M
FormFactor EBIT (Q1, 2018)3.6 M
FormFactor Cash, 31-Mar-201893.7 M

FormFactor Revenue Breakdown

Embed Graph

FormFactor revenue breakdown by business segment: 12.0% from Systems, 22.6% from DRAM, 61.9% from Foundry & Logic and 3.5% from Other

FormFactor Financials

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%

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, 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 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 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 m

Gross profit Margin, %

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

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 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 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 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 m

EBIT margin, %

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

Interest expense

1.2 m967 k

Interest income

93 k257 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 m

Income tax expense

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

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 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

Total Liabilities

217.9 m187.9 m

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, 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 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 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 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 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 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 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 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 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 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)

Total Equity

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

Financial Leverage

1.2 x1.2 x1.2 x1.2 x1.2 x1.6 x1.6 x1.5 x1.5 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)

Cash From Financing Activities

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

Interest Paid

2.1 m3.8 m

Quarterly

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

Depreciation and Amortization

10.7 m

Accounts Receivable

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

Inventories

(7.4 m)

Accounts Payable

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

Cash From Operating Activities

9.3 m

Purchases of PP&E

(3.8 m)

Cash From Investing Activities

(3.4 m)

Cash From Financing Activities

(4.4 m)

Interest Paid

826 k

Income Taxes Paid

771 k

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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