TORVANTA
Other · S&P 500 · data as of 2026-10-05

FORM stock analysis: FORM

FORM (FORM) is an S&P 500 company in Other. It grades strongest on momentum and growth and weakest on value.

The model's view of FORM · subscribers

Where FORM ranks among the 1,500 U.S. stocks the model scores each trading day, its expected return, the evidence for and against it, and whether the model portfolio holds it. The grades below describe the company's data; they are not the model's view.

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What's happening with FORM · updated 2026-10-05 · from prices and SEC filings

FORM price performance

FORM against the S&P 500, one year
+0%+200%FORM +308%S&P 500 +18%2025-09-292026-10-05
Year to date+165.3%S&P 500 +14.5% · ahead by 150.8 pts
1 year+272.9%S&P 500 +17.0% · ahead by 255.8 pts
3 years+347.5%S&P 500 +89.3% · ahead by 258.2 pts
5 years+310.4%S&P 500 +91.3% · ahead by 219.1 pts

Total returns with dividends reinvested.

FORM factor grades

Each grade compares FORM with the rest of its sector (A+ best, F worst); the numbers behind it are shown with the typical figure for its peers.

DValueP/E 101.4x (industry 20.1x)FCF yield 1.2% (industry 6.0%)
AGrowthRevenue growth +18% (industry +8%)EPS growth +156% (industry +10%)
B-ProfitabilityOperating margin 12.9% (industry 9.6%)ROIC 9.9% (industry 10.1%)
AMomentum12-month change +273%From 52-wk high -7%

FORM in plain numbers

FORM key statistics

SectorOther
Industryn/a
IndexS&P 500
Market value$11.6B
Revenue growth (y/y)+18%
Free-cash-flow yield1.2%
Dividend yieldn/a
Next earnings (expected)2026-10-28
Valuation measures
Market value$11.6B
Enterprise value$11.5B
P/E (trailing)101.4x
Forward P/E (Torvanta estimate)67.6x
PEG (Torvanta estimate)1.35
Price / sales12.8x
Price / book10.4x
EV / revenue12.7x
EV / EBITDA98.9x
Financial highlights
Revenue, last 12 months$902.2M
Net income, last 12 months$115.5M
EPS, last 12 months (GAAP)$1.46
Gross margin43.1%
Operating margin12.9%
Net margin12.8%
Return on equity11.0%
Return on invested capital9.9%
Cash$109.8M
Total debt$11.6M
Debt / equity0.01x
Free cash flow, last 12 months$136.1M
Current ratio4.08x

Company figures from its latest SEC filings; market value and returns from end-of-day prices.

FORM earnings trends

Revenue vs earnings
$0$64.6M$129.1M$193.7M$258.2MSep 2024 Revenue: $207.9MDec 2024 Revenue: $189.5MMar 2025 Revenue: $171.4MJun 2025 Revenue: $195.8MSep 2025 Revenue: $202.7MDec 2025 Revenue: $215.2MMar 2026 Revenue: $226.1MJun 2026 Revenue: $258.2MSep 2024 Net income: $18.7MDec 2024 Net income: $9.7MMar 2025 Net income: $6.4MJun 2025 Net income: $9.1MSep 2025 Net income: $15.7MDec 2025 Net income: $23.2MMar 2026 Net income: $20.4MJun 2026 Net income: $56.2MSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Net margin: 9.0%Net margin: 5.1%Net margin: 3.7%Net margin: 4.6%Net margin: 7.7%Net margin: 10.8%Net margin: 9.0%Net margin: 21.8%0%11%22%■ Revenue ■ Net income ━ Net margin
Earnings per share$0.0$0.2$0.4$0.5$0.7Sep 2024 EPS (GAAP, diluted): $0.2Dec 2024 EPS (GAAP, diluted): $0.1Mar 2025 EPS (GAAP, diluted): $0.1Jun 2025 EPS (GAAP, diluted): $0.1Sep 2025 EPS (GAAP, diluted): $0.2Dec 2025 EPS (GAAP, diluted): $0.3Mar 2026 EPS (GAAP, diluted): $0.3Jun 2026 EPS (GAAP, diluted): $0.7Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026■ EPS (GAAP, diluted) Change from a year earlier: Sep 2025 -17% · Dec 2025 +123% · Mar 2026 +225% · Jun 2026 +492%

From the company's 10-Q and 10-K filings with the SEC.

FORM financials (from SEC filings)

Fiscal yearFY2021FY2022FY2023FY2024FY2025
Revenue$769.7M$747.9M$663.1M$763.6M$785.0M
Net income$83.9M$50.7M$82.4M$69.6M$54.4M
EPS (GAAP)$1.07$0.65$1.06$0.90$0.69
Free cash flow$72.9M$66.5M$8.6M$79.1M$11.7M

FORM earnings history

ReportedEPS (GAAP)EPS y/yRevenue y/yStock vs S&P 500, 2 days
2026-07-29$0.71+492%+32%+19.3%
2026-04-29$0.26+225%+32%+0.3%
2026-02-04$0.29+123%+14%+14.0%
2025-10-29$0.20-17%-3%+40.7%
2025-07-30$0.12-52%-1%-17.6%
2025-04-30$0.08-71%+2%+3.0%

About FORM

HeadquartersLivermore, CA
Industry (SEC code)Semiconductors & Related Devices
Fiscal year endsDecember 26
Incorporated inDE
Listed onNasdaq

From the company's SEC registration record.

Companies similar to FORM

CompanyMarket valueP/ERevenue growthOperating margin12-month change
FORM FORM$11.6B101.4x+18%12.9%+273%
AFG AFG$11.6B12.2x-0%14.5%-1%compare
VIAV VIAV$11.6Bn/a+40%6.9%+269%compare
CCK CCK$11.6B15.3x+10%12.3%+12%compare
AA AA$11.5B9.0x+6%n/a+27%
ALLY ALLY$11.4B8.9x+11%n/a-2%
HL HL$11.4B34.7x+51%46.0%+43%

All Other stock ratings

Frequently asked questions

Is FORM stock a buy?

Torvanta does not tell individuals what to buy. Its grades for FORM are shown above. Subscribers see the model's rank, expected return and whether the model portfolio holds it. This is research, not a recommendation.

What is FORM's P/E ratio?

FORM trades at about 101.4 times its last 12 months of GAAP earnings reported to the SEC, and about 67.6 times Torvanta's own estimate of the next 12 months.

When does FORM report earnings next?

Based on its filing history, Torvanta expects FORM to report around 2026-10-28.

How has FORM performed against the S&P 500?

Over the past year FORM returned +272.9%, against +17.0% for the S&P 500, dividends reinvested.

See the model's view

Subscribers get the model's rank and expected return for every covered company, the reasoning behind each, and the Torvanta model portfolio's trades each trading day, sized and explained, at three risk levels.

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Torvanta is research only - not investment advice and not a recommendation to buy or sell any security. Grades describe a company's reported data against its sector; they are not the model's view, change as data changes and can be wrong. Financial figures come from the company's SEC filings; returns include reinvested dividends. Past performance does not predict future results.

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