FormFactor Inc. FormFactor Inc. (FORM) exhibits 39.3% gross margins and 4.8% return on invested capital within Technology (Semiconductors), balanced against a 51.8x enterprise multiple and 7.4% implied options volatility.
Sustained 39.3% gross profitability converts into 7.3% operating margin and 4.8% ROIC, outpacing sector cost of capital.
ROIC: 4.8% // GM: 39.3%YoY revenue trajectory of +2.8% paired with 0.15% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +2.8% // FCF YLD: 0.15%Altman Z-Score of 25.60 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 25.60 // F-SCORE: 7/9Trading at 140.1x trailing P/E (130.3x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 140.1x // EV/EBITDA: 51.8xOptions market prices a ±7.4% implied move with a 1.32 put/call ratio around $96.00 max pain.
IMPL MOVE: ±7.4% // P/C: 1.32Elevated industry capital intensity and customer concentration in Semiconductors require continuous execution to defend 6.9% net margins.
NET MARGIN: 6.9% // D/E: 0.01x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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