FormFactor (NASDAQ: FORM) — Peer Benchmark

GAAP comparison against US-listed test & measurement peers, from SEC XBRL filings — with the honest data-comparability caveats shown, not hidden. ← Executive pack (Phase 1) · Margins & segments (Phase 2)

Data as of SEC filings retrieved … · · GAAP per XBRL; company headline figures may be non-GAAP

Scope

Where FormFactor stands — latest comparable quarter

Each bar is the GAAP value at the snapshot quarter. FormFactor is highlighted; KLA is a process-control margin reference (not ranked); peers/metrics that aren't comparably tagged are omitted and listed under Governance.

At $226M, FormFactor is mid-pack — above Cohu and inTEST, below Onto Innovation and Teradyne

$M, snapshot quarter · five ranked companies; KLA is a reference and is excluded here so it does not set the scale

FormFactor has the lowest gross margin of the four companies that tag it — 38.4% against Teradyne’s 60.9%

% of revenue, GAAP · four companies tag it; Cohu and KLA do not

FormFactor’s 7.4% operating margin ranks third of five, well behind Teradyne’s 36.9%

% of revenue, GAAP · five companies tag it; KLA does not

FormFactor reinvests 13.6% of revenue in R&D — second only to Cohu’s 21.1%

R&D as % of revenue · all six companies tag it

Profitability vs growth

Operating margin vs YoY revenue growth at the snapshot quarter; bubble area ≈ revenue. FormFactor emphasized. KLA is absent (no comparably tagged operating margin); Camtek is absent (no quarterly filings).

FormFactor pairs 32.0% growth with a 7.4% operating margin; Teradyne pairs 87.0% with 36.9%

Operating margin vs YoY revenue growth · bubble area ≈ revenue, from $34M (inTEST) to $1.28B (Teradyne)

Trends — FY2018 → snapshot

FormFactor highlighted; peers in grey. Lines break where a company doesn't comparably tag the metric.

FormFactor’s gross margin ends the series at 38.4%, below every peer that tags it

%, GAAP · FormFactor emphasised, peers in context · Camtek appears here and not in the rankings, which need a quarterly filing

FormFactor’s growth has recovered to 32.0%, while Teradyne is running at 87.0%

% YoY · FormFactor emphasised, peers in context

Governance — how each number is sourced

The point of this project: cross-company GAAP comparison is only as honest as the XBRL behind it. This is the actual us-gaap tag that fed each company × concept — including where a peer tags a concept differently, or not at all. Nothing is estimated; gaps are shown as gaps.

Peer data tables

The same values the charts above plot. “—” marks a metric a company does not tag.

Show snapshot table

Show trend table

Data & method

Source & freeze. FormFactor is the frozen Phase 1 snapshot (SEC companyfacts, as-of 2026-07-21). The six peer companyfacts bundles were pulled by src/ingest_peers.py as an additive extension of that freeze (CIKs resolved from the committed SEC ticker map, never guessed); the actual retrieval date is stamped above and in the validation report. The benchmark never shows a peer quarter later than FormFactor's frozen latest, so the slightly later pull cannot leak newer data. The page makes no SEC calls at runtime.
GAAP basis & metrics. Revenue, gross margin %, operating margin %, R&D as % of revenue, and YoY revenue growth — all GAAP as tagged in XBRL. Margins are computed from filed GAAP line items, never from non-GAAP headlines.
Tag drift, handled by a priority map. Peers tag the same concept differently — e.g. Teradyne's R&D uses ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost; Cohu and inTEST tag revenue as …IncludingAssessedTax. A per-metric tag-priority list absorbs this; the winning tag per company is shown in the table above.
Not comparable — flagged, never filled. Camtek is a foreign private issuer filing Form 20-F/6-K, not 10-Q/10-K, so it has no recent quarterly GAAP XBRL and is excluded from the quarterly rankings. KLA tagged GrossProfit only through FY2021 Q2 (it appears in the gross-margin trend through 2021, then stops) and does not tag OperatingIncomeLoss in-window (latest 2015), so its gross and operating margins are not comparable at the snapshot quarter — KLA is shown on revenue scale, R&D %, and growth only. Cohu does not tag GrossProfit at all in-window, so its gross margin is not comparable. These gaps are shown as gaps, not estimated.
Fiscal-calendar conformance. Each company's fiscal quarter is mapped to the calendar quarter whose end date is nearest (within ~14 days) — the same rule used for FormFactor — so companies with different fiscal years line up on one grid. Derived Q4 = FY − (Q1+Q2+Q3), flagged; restatements keep the latest filed value.
Honest peer-set caveat.
Governance artifacts. tag_mapping.csv · validation_report.md (per-peer FY reconciliation, gap audit, and the snapshot-alignment note).

Built from public SEC filings (EDGAR XBRL APIs), as-of …. Independent portfolio project — not affiliated with, endorsed by, or based on any non-public information from any company shown. Not investment advice.