FORM
FormFactor, Inc.
FORM has the edge over INTC overall, supported by stronger modeled upside and lower modeled downside.
INTC
Intel Corporation
INTC's outlook is improving, though it still trails on the overall score.
FORM Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
FORM's revenue, profitability, cash flow and balance sheet are all currently strong.
INTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Healthy | |
| Healthy |
INTC's revenue, cash flow and balance sheet are currently healthy, but its profitability is under pressure.
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.
INTC PE Valuation
INTC has no meaningful PE right now: it lost money over the past year.
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.
INTC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Broad | |
| Low |
Analysts expect earnings and revenue growth for INTC, with profitability improving. However, they disagree widely on these estimates.
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 INTC on earnings quality, reporting a profit while its opponent remains loss making.
INTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.41 | — |
| Q3 2026 | -$2.39 | -24000% |
| Q2 2026 | -$2.09 | +$2.68 |
| Q1 2026 | -$0.60 | +$3.88 |
| Q4 2025 | -$0.06 | +$4.32 |
| Q3 2025 | $0.01 | +$3.72 |
| Q2 2025 | -$4.77 | -2088% |
| Q1 2025 | -$4.48 | -562% |
| Q4 2024 | -$4.38 | -1195% |
INTC has swung to a loss: it lost $2.39 per share over the past year, after a profit the year before.
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 has the edge over INTC on sales, with more consistent year-over-year improvement.
| 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 INTC on profitability, with a higher operating margin.
INTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $16.5B | +21% |
| Q2 2026 | $16.1B | +25% |
| Q1 2026 | $13.6B | +7.2% |
| Q4 2025 | $13.7B | -4.1% |
| Q3 2025 | $13.7B | +2.8% |
| Q2 2025 | $12.9B | +0.2% |
| Q1 2025 | $12.7B | -0.4% |
| Q4 2024 | $14.3B | -7.4% |
INTC's revenue is recovering but still below its 2021 peak: $16.5B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +10 points |
| Q2 2026 | 11% | +36 points |
| Q1 2026 | -23% | -21 points |
| Q4 2025 | 4.2% | +1.4 points |
| Q3 2025 | 5% | +73 points |
| Q2 2025 | -25% | -9.4 points |
| Q1 2025 | -2.4% | +6 points |
| Q4 2024 | 2.9% | -14 points |
INTC's operating margin was 15% last quarter, up 10 points from the same quarter a year ago.
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 generated $181M in free cash flow over the past year, more than ten times what it generated the year before.
INTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +774% |
| Q2 2026 | $4.5B | +$6B |
| Q1 2026 | -$2.5B | +$1.8B |
| Q4 2025 | $800M | +$3.5B |
| Q3 2025 | $121M | +$2.5B |
| Q2 2025 | -$1.5B | +$1.9B |
| Q1 2025 | -$4.4B | +$2.8B |
| Q4 2024 | -$2.7B | -$597M |
INTC has the edge over FORM on cash flow, with more consistent year-over-year improvement.
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 INTC 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.
INTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +4% | +203M shares |
| 1 year | +17% | +776M shares |
| 3 years | +25% | +1.1B shares |
| 5 years | +30% | +1.2B shares |
| Available history | +19% | +834M shares |
INTC has 5.3B diluted shares, up 17% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | $114M |
| Q1 2021 | $2.3B |
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 the edge over INTC on leverage, with a lower net debt burden relative to earnings.
INTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 3.1x | Elevated |
| Q1 2026 | 3.9x | Elevated |
| Q4 2025 | 3.4x | Elevated |
| Q3 2025 | 4.0x | Elevated |
| Q1 2025 | 69.6x | High |
| Q3 2024 | 23.8x | High |
| Q2 2024 | 4.3x | High |
INTC's net debt is about 2.0 years of its operating earnings (EBITDA), down from 4.0 years a year ago.
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).
INTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.1 | Neutral |
| Stochastic | 7.7 | Oversold |
INTC's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
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.
INTC PE vs Technology Sector
| Metric | INTC | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
INTC has no meaningful PE right now: it lost money over the past year.
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 pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 67% above its 200-week average.
INTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $88.4 | 31% below |
| 20 week MA | $95.3 | 36% below |
| 50 week MA | $79.3 | 23% below |
| 100 week MA | $52.1 | 18% above |
| 200 week MA | $42.5 | 44% above |
INTC has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 44% above its 200-week average.
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 finished higher in five of the last six years, two of them by more than 50%. It's up 59% so far in 2026.
INTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $60.1 | $47.1 | -22% |
| 2021 | $47.1 | $51.3 | +9% |
| 2022 | $51.3 | $26.1 | -49% |
| 2023 | $26.1 | $50.3 | +93% |
| 2024 | $50.3 | $20.3 | -60% |
| 2025 | $20.3 | $36.2 | +78% |
| 2026 YTD | $36.2 | $61.2 | +69% |
INTC has the edge over FORM on returns for 2026, with the stronger performance.