What is Formfactor Inc worth?
With the base-case assumptions below, a discounted cash flow model on Formfactor Inc's reported free cash flow gives $3.62 per share. The share price was $129.69 on September 25, 2026, 3,486% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -2.5% | 10.0% | $2.72 | -98% |
| Base | 2.5% | 9.0% | $3.62 | -97% |
| Bull | 7.5% | 8.0% | $5.36 | -96% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $4.25 | $4.44 | $4.67 | $4.96 | $5.33 |
| 8.0% | $3.78 | $3.90 | $4.05 | $4.22 | $4.43 |
| 9.0% | $3.44 | $3.52 | $3.62 | $3.73 | $3.86 |
| 10.0% | $3.17 | $3.23 | $3.30 | $3.38 | $3.47 |
| 11.0% | $2.97 | $3.01 | $3.06 | $3.12 | $3.18 |
Where the presets come from
Base: years 1 to 5 grow at Formfactor Inc's revenue growth rate over the last 5 fiscal years (2.5% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions