ASTS
AST SpaceMobile, Inc.
ASTS trails on the overall score without a compensating advantage in the available component scores.
FORM
FormFactor, Inc.
FORM has the edge over ASTS overall, supported by lower modeled downside and stronger fundamentals.
ASTS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
ASTS's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
FORM Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
FORM's revenue, profitability, cash flow and balance sheet are all currently strong.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
FORM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $92.32 | — |
| Cheap | 28x | $60.70 | -34% |
| Fair | 41x | $90.72 | -1.7% |
| Current | 42x | $92.32 | — |
| Expensive | 80x | $176 | +90% |
Historical ranges are pointers, not guarantees.
FORM's PE is in its fair range at 42x. If earnings grow as analysts expect, today's price would be 22x next year's earnings, in its cheap range.
ASTS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ASTS's losses to grow, with revenue growing. However, they disagree widely on these estimates.
FORM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for FORM, with profitability improving. However, they disagree widely on these estimates.
ASTS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.15 | -$0.91 |
| Q2 2026 | -$2.16 | -$0.27 |
| Q1 2026 | -$1.80 | +$0.19 |
| Q4 2025 | -$1.34 | +$0.61 |
| Q3 2025 | -$1.24 | +$0.88 |
| Q2 2025 | -$1.89 | -$0.64 |
| Q1 2025 | -$1.99 | -$1.01 |
| Q4 2022 | -$0.58 | -$0.21 |
ASTS is still losing money, but far less than before: $2.15 per share over the past year, against $5.76 at its worst in mid-2021.
FORM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.11 | +88% |
| Q3 2026 | $2.19 | +321% |
| Q2 2026 | $1.46 | +161% |
| Q1 2026 | $0.87 | +26% |
| Q4 2025 | $0.69 | -22% |
| Q3 2025 | $0.52 | -70% |
| Q2 2025 | $0.56 | -64% |
| Q1 2025 | $0.69 | -47% |
| Q4 2024 | $0.89 | -15% |
FORM has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
ASTS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $42.3M | +187% |
| Q2 2026 | $31.5M | +2627% |
| Q1 2026 | $14.7M | +1952% |
| Q4 2025 | $54.3M | +2731% |
| Q3 2025 | $14.7M | +1240% |
| Q2 2025 | $1.2M | +28% |
| Q1 2025 | $718K | +44% |
| Q3 2022 | $4.2M | +70% |
ASTS has the edge over FORM on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -415% | +694 points |
| Q2 2026 | -948% | +10744 points |
| Q1 2026 | -1686% | +7083 points |
| Q4 2025 | -175% | +2446 points |
| Q3 2025 | -1109% | +4850 points |
| Q2 2025 | -11692% | -4693 points |
| Q1 2025 | -8769% | +2331 points |
| Q4 2024 | -2621% | N/A |
ASTS's operating margin was −415% last quarter, up 694 points from the same quarter a year ago.
FORM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $280.5M | +38% |
| Q2 2026 | $258.2M | +32% |
| Q1 2026 | $226.1M | +32% |
| Q4 2025 | $215.2M | +14% |
| Q3 2025 | $202.7M | -2.5% |
| Q2 2025 | $195.8M | -0.8% |
| Q1 2025 | $171.4M | +1.6% |
| Q4 2024 | $189.5M | +13% |
FORM's revenue has grown year over year for four quarters in a row: $281M last quarter, up 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +20 points |
| Q2 2026 | 22% | +16 points |
| Q1 2026 | 7.4% | +5.5 points |
| Q4 2025 | 11% | +6.8 points |
| Q3 2025 | 8.9% | +0.3 points |
| Q2 2025 | 6.3% | -2.7 points |
| Q1 2025 | 1.9% | -11 points |
| Q4 2024 | 4.1% | -44 points |
FORM has the edge over ASTS on profitability, with a higher operating margin.
ASTS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$464.2M | -$161.4M |
| Q2 2026 | -$694.8M | -$341.1M |
| Q1 2026 | -$309.7M | -$160.7M |
| Q4 2025 | -$330.7M | -$220.3M |
| Q3 2025 | -$302.9M | -$239.1M |
| Q2 2025 | -$353.6M | -$315.3M |
| Q1 2025 | -$149M | -$61.3M |
| Q4 2024 | -$110.5M | -$63.2M |
ASTS has burned cash in almost every quarter: −$1.8B over the past year, against −$916M the year before.
FORM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $64.6M | +232% |
| Q2 2026 | $52.2M | +$99.6M |
| Q1 2026 | $29.8M | +501% |
| Q4 2025 | $34.7M | +23% |
| Q3 2025 | $19.5M | +9.5% |
| Q2 2025 | -$47.4M | -451% |
| Q1 2025 | $5M | -75% |
| Q4 2024 | $28.3M | +$28.9M |
FORM has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASTS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.1M shares |
| 1 year | +10% | +27.3M shares |
| 3 years | +235% | +211M shares |
| 5 years | +480% | +248M shares |
| Available history | +944% | +271M shares |
ASTS has 300M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
FORM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -160K shares |
| 1 year | +2.2% | +1.7M shares |
| 3 years | +1.3% | +1M shares |
| 5 years | +0.5% | +418K shares |
| Available history | +1.8% | +1.4M shares |
FORM has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $1.7M |
| Q2 2025 | $2.5M |
| Q1 2025 | $22.1M |
| Q4 2024 | $16.1M |
FORM hasn't bought back shares in the past year.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
FORM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -1.0x | Net Cash |
| Q4 2025 | -0.9x | Net Cash |
| Q3 2025 | -1.1x | Net Cash |
| Q2 2025 | -0.7x | Net Cash |
| Q1 2025 | -1.5x | Net Cash |
| Q4 2024 | -1.8x | Net Cash |
FORM has more cash than debt.
ASTS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 11.9 | Oversold |
ASTS's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
FORM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.0 | Neutral |
| Stochastic | 16.3 | Oversold |
FORM's weekly RSI is 44 (neutral) and its Stochastic is 16 (oversold).
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
FORM PE vs Technology Sector
| Metric | FORM | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 28x | 51% above |
| PE % | 52 | 35 | 17 pts above |
FORM is trading at 42x earnings, a 51% premium to the Technology sector's median of 28x.
ASTS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 23% below |
| 20 week MA | $57.1 | 40% below |
| 50 week MA | $75.5 | 54% below |
| 100 week MA | $57.8 | 40% below |
| 200 week MA | $33.6 | 2.8% above |
ASTS has fallen below most of its moving averages, though it's still 2.8% above its 200-week average.
FORM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $110.4 | 16% below |
| 20 week MA | $112.1 | 18% below |
| 50 week MA | $105.7 | 13% below |
| 100 week MA | $70.9 | 30% above |
| 200 week MA | $55.3 | 67% above |
FORM has the edge over ASTS on trend strength, trading above more of its moving averages.
ASTS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.87 | $13.4 | +36% |
| 2021 | $13.4 | $8.71 | -35% |
| 2022 | $8.71 | $3.97 | -54% |
| 2023 | $3.97 | $6.03 | +52% |
| 2024 | $6.03 | $22.9 | +280% |
| 2025 | $22.9 | $72.0 | +214% |
| 2026 YTD | $72.0 | $34.5 | -52% |
ASTS's yearly returns have swung widely, from +280% in 2024 to −54% in 2022. It's down 52% so far in 2026.
FORM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $26.0 | $42.6 | +64% |
| 2021 | $42.6 | $44.5 | +4.5% |
| 2022 | $44.5 | $21.5 | -52% |
| 2023 | $21.5 | $41.7 | +94% |
| 2024 | $41.7 | $45.9 | +10% |
| 2025 | $45.9 | $58.1 | +26% |
| 2026 YTD | $58.1 | $92.3 | +59% |
FORM has the edge over ASTS on returns for 2026, with the stronger performance.