Quick verdict: CAMT vs FORM in 2026

CAMT appears to have a stronger overall edge in this 2026 comparison against FORM, leading on several key metrics. Camtek Ltd. stands out as the clear growth leader with significantly higher revenue expansion, while also demonstrating superior operational profitability and margins. Although both stocks exhibit high valuations, CAMT shows a relatively less extreme P/E ratio and DCF implied discount. Furthermore, financial analysts show a strong preference for CAMT, with a much higher percentage of buy ratings and a more favorable consensus price target. This is not investment advice.

CAMT vs FORM: key metrics side by side

Full side-by-side comparison of CAMT and FORM across valuation, profitability, growth and analyst sentiment. Data updated 2026-04-14.

CAMT vs FORM valuation comparison

Comparing CAMT vs FORM valuation metrics reveals that both companies trade at elevated multiples, indicative of high growth expectations within the technology sector. Camtek Ltd. (CAMT) currently trades at a P/E ratio of 162.77x, which, while high, is notably lower than FormFactor, Inc.’s (FORM) P/E of 185.27x. This suggests that, relative to their current earnings, CAMT is perceived as slightly less expensive by the market. However, when examining the price-to-book (P/B) ratio, FORM appears to be more favorably priced at 9.73x compared to CAMT’s 13.38x, indicating a lower valuation relative to its book assets.

The discounted cash flow (DCF) analysis for both stocks paints a stark picture of potential overvaluation. CAMT’s current price of $180.65 significantly exceeds its DCF estimate of $40.08, implying a severe downside of -77.8%. FormFactor, Inc. faces an even more pronounced challenge, with its price of $129.82 far above its DCF estimate of $11.14, leading to a staggering implied downside of -91.4%. While both companies are currently trading well above their DCF valuations, CAMT’s implied overvaluation, though substantial, is less extreme than FORM’s. This complex interplay of valuation metrics makes a clear “cheaper” distinction difficult, but on P/E and relative DCF, CAMT holds a slight edge, while FORM appears more attractive on P/B and its exceptionally low debt-to-equity ratio of 0.04x compared to CAMT’s 0.84x.

CAMT vs FORM growth comparison

In the critical area of growth, Camtek Ltd. (CAMT) demonstrates significantly stronger momentum compared to FormFactor, Inc. (FORM). CAMT reported an impressive year-over-year revenue growth of +15.6%, reaching $496,072,000. This robust expansion indicates strong demand for its products and services, likely driven by advancements and market share gains within its niche in the semiconductor industry. In contrast, FORM’s revenue growth stood at a more modest +2.8%, with total revenue of $784,993,000. While FORM boasts a larger top-line revenue, its much slower growth rate suggests less dynamic business expansion in the current market environment.

Beyond revenue, CAMT also exhibits superior operational efficiency and margin performance, which often correlates with stronger underlying business momentum. CAMT’s net margin is 10.22% and its EBITDA margin is 25.84%, showcasing its ability to translate sales into higher profits more effectively than FORM. FORM, while generating higher total revenue, reported a net margin of 6.93% and an EBITDA margin of 11.89%. These differences in profitability metrics, combined with CAMT’s significantly higher revenue growth, position CAMT as the clear leader in terms of current growth trajectory and operational leverage, indicating stronger momentum and potentially more favorable forward estimates in the long run.

CAMT vs FORM profitability

Examining the profitability of CAMT vs FORM, Camtek Ltd. (CAMT) generally outperforms FormFactor, Inc. (FORM) across key margin indicators. CAMT reported a robust net margin of 10.22%, indicating that a substantial portion of its revenue is converted into net profit. This is significantly higher than FORM’s net margin of 6.93%, suggesting that CAMT operates with greater efficiency or commands better pricing power within its market segment. Similarly, CAMT’s EBITDA margin stands at an impressive 25.84%, more than double FORM’s EBITDA margin of 11.89%. This broad difference across both net and EBITDA margins highlights CAMT’s stronger operational profitability and ability to control costs relative to its revenue.

However, when it comes to free cash flow (FCF) yield, FormFactor, Inc. shows a slight edge, reporting a FCF yield of 0.12%, whereas CAMT’s FCF yield is 0%. While both figures are quite low, FORM’s positive yield indicates it is generating a small amount of free cash flow, whereas CAMT is currently breaking even or slightly negative on this metric. Both companies have an N/A% for Return on Equity (ROE), preventing a direct comparison of how efficiently they are using shareholder equity to generate profits. Despite FORM’s minor lead in FCF yield, CAMT’s significantly higher net and EBITDA margins suggest it generates more cash from its core operations before capital expenditures, making it the more profitable company overall in terms of converting sales into earnings.

Analyst ratings: CAMT vs FORM

The analyst community shows a considerably stronger preference for Camtek Ltd. (CAMT) over FormFactor, Inc. (FORM), both in terms of buy ratings and projected price targets. CAMT benefits from a high level of analyst confidence, with 13 analysts covering the stock and an overwhelming 84.6% issuing a “Buy” rating. The consensus among these analysts is also a “Buy,” reflecting a positive outlook. Their average target price for CAMT is $165.6, which, compared to its current price of $180.65, implies a modest downside of -8.3%. While this suggests the stock is currently trading above its fair value according to analysts, the high percentage of “Buy” ratings indicates expectations for future performance or a belief that the current valuation is justified by growth prospects.

In contrast, FormFactor, Inc. (FORM) receives a more mixed reception from analysts. With 19 analysts providing coverage, only 47.4% have a “Buy” rating, significantly less than CAMT’s. Despite this, the consensus rating for FORM is still a “Buy,” though with less conviction. The analyst target price for FORM is $76.29, which represents a substantial implied downside of -41.2% from its current price of $129.82. This larger discrepancy between the current price and the target price, coupled with a lower percentage of “Buy” ratings, suggests that analysts are considerably less optimistic about FORM’s near-term upside potential or its current valuation compared to CAMT. Clearly, analysts prefer CAMT, viewing it as a more compelling investment despite its current premium valuation relative to its target price.

Should I buy CAMT or FORM stock in 2026?

When considering whether to buy CAMT or FORM stock in 2026, growth investors will likely find Camtek Ltd. (CAMT) to be the more attractive option. CAMT boasts a robust revenue growth rate of 15.6% year-over-year, significantly outperforming FormFactor, Inc.’s (FORM) modest 2.8%. This stronger top-line expansion, coupled with CAMT’s superior net margin of 10.22% and EBITDA margin of 25.84% (compared to FORM’s 6.93% and 11.89% respectively), suggests better operational efficiency and a more dynamic business with strong market momentum. For investors prioritizing companies with high growth potential and efficient operations, CAMT presents a clearer path to capital appreciation, even with its current high valuation multiples.

For value investors, the choice between CAMT and FORM is more nuanced, as both stocks currently exhibit high valuations and significant implied overvaluation based on DCF analysis. CAMT’s P/E ratio of 162.77x is lower than FORM’s 185.27x, making it relatively less expensive on an earnings basis. Additionally, CAMT’s implied DCF downside of -77.8% is less severe than FORM’s -91.4%. However, FORM offers a more favorable price-to-book ratio of 9.73x compared to CAMT’s 13.38x, and an exceptionally low debt-to-equity ratio of 0.04x versus CAMT’s 0.84x, indicating a stronger balance sheet. Given these factors, if forced to choose based on relative “value” among two highly priced assets, CAMT’s lower P/E and less extreme DCF discount might appeal to those seeking a relatively less overvalued growth stock, though both represent a premium investment.

For income-seeking investors, neither CAMT nor FORM are suitable choices, as both companies currently have a dividend yield of 0%. Both Camtek Ltd. and FormFactor, Inc. appear to be reinvesting all their earnings back into the business for growth, which is common for companies in the technology sector, particularly those operating in dynamic segments like semiconductor equipment. Therefore, investors looking for regular dividend payouts to generate income from their portfolio should explore other opportunities. This is not investment advice; always conduct thorough personal research and consult with a financial advisor before making investment decisions.

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FAQ: CAMT vs FORM