FORM vs. TSM

Last updated Apr 1, 2026

Compare and contrast key facts about FormFactor, Inc. (FORM) and Taiwan Semiconductor Manufacturing Company Limited (TSM).

Performance

FORM vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FormFactor, Inc. (FORM) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

FORM vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FORM FormFactor, Inc.	73.88%	26.77%	5.49%	87.63%	-51.38%	6.28%	65.65%	84.32%	-9.97%	39.73%
TSM Taiwan Semiconductor Manufacturing Company Limited	11.52%	55.91%	92.58%	42.33%	-36.75%	12.09%	92.67%	64.85%	-3.50%	41.46%

Fundamentals

Market Cap FORM : $7.65B TSM : $1.75T
EPS FORM : $0.68 TSM : $332.18
PE Ratio FORM : 142.42 TSM : 1.02
PS Ratio FORM : 9.65 TSM : 0.46
PB Ratio FORM : 7.39 TSM : 0.32
Total Revenue (TTM) FORM : $784.99M TSM : $3.82T
Gross Profit (TTM) FORM : $308.85M TSM : $2.29T
EBITDA (TTM) FORM : $87.65M TSM : $2.90T

Returns By Period

In the year-to-date period, FORM achieves a 73.88% return, which is significantly higher than TSM's 11.52% return. Over the past 10 years, FORM has underperformed TSM with an annualized return of 29.57%, while TSM has yielded a comparatively higher 32.45% annualized return.

FORM

• 1D: 6.10%
• 1M: -1.91%
• YTD: 73.88%
• 6M: 166.31%
• 1Y: 242.84%
• 3Y*: 44.95%
• 5Y*: 14.28%
• 10Y*: 29.57%

TSM

• 1D: 6.78%
• 1M: -9.52%
• YTD: 11.52%
• 6M: 21.66%
• 1Y: 106.05%
• 3Y*: 56.00%
• 5Y*: 24.08%
• 10Y*: 32.45%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

FORM vs. TSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FORM

FORM Risk / Return Rank: 97
FORM Sharpe Ratio Rank: 98
FORM Sortino Ratio Rank: 96
FORM Omega Ratio Rank: 95
FORM Calmar Ratio Rank: 98
FORM Martin Ratio Rank: 98

TSM

TSM Risk / Return Rank: 95
TSM Sharpe Ratio Rank: 96
TSM Sortino Ratio Rank: 94
TSM Omega Ratio Rank: 92
TSM Calmar Ratio Rank: 96
TSM Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FORM vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FormFactor, Inc. (FORM) and Taiwan Semiconductor Manufacturing Company Limited (TSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FORM	TSM	Difference
Sharpe ratio Return per unit of total volatility	3.42	2.76	+0.66
Sortino ratio Return per unit of downside risk	3.66	3.33	+0.33
Omega ratio Gain probability vs. loss probability	1.50	1.42	+0.08
Calmar ratio Return relative to maximum drawdown	9.93	5.90	+4.03
Martin ratio Return relative to average drawdown	23.44	20.02	+3.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FORM vs. TSM - Sharpe Ratio Comparison

The current FORM Sharpe Ratio is 3.42, which is comparable to the TSM Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of FORM and TSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FORM	TSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.42	2.76	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.66	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.96	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.35	-0.19

Correlation

The correlation between FORM and TSM is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FORM vs. TSM - Dividend Comparison

FORM has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.98%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FORM FormFactor, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSM Taiwan Semiconductor Manufacturing Company Limited	0.98%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%

Drawdowns

FORM vs. TSM - Drawdown Comparison

The maximum FORM drawdown since its inception was -92.36%, roughly equal to the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for FORM and TSM.

Drawdown Indicators

	FORM	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-92.36%	-89.08%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-24.04%	-18.14%	-5.90%
Max Drawdown (5Y) Largest decline over 5 years	-64.42%	-56.47%	-7.95%
Max Drawdown (10Y) Largest decline over 10 years	-64.42%	-56.47%	-7.95%
Current Drawdown Current decline from peak	-10.25%	-12.59%	+2.34%
Average Drawdown Average peak-to-trough decline	-51.84%	-43.13%	-8.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.18%	5.34%	+4.84%

Volatility

FORM vs. TSM - Volatility Comparison

FormFactor, Inc. (FORM) has a higher volatility of 21.08% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 14.44%. This indicates that FORM's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FORM	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.08%	14.44%	+6.64%
Volatility (6M) Calculated over the trailing 6-month period	50.61%	27.19%	+23.42%
Volatility (1Y) Calculated over the trailing 1-year period	71.49%	38.60%	+32.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.06%	36.99%	+18.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.49%	33.85%	+18.64%

Financials

FORM vs. TSM - Profitability Comparison

The chart below illustrates the profitability comparison between FormFactor, Inc. and Taiwan Semiconductor Manufacturing Company Limited over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FORM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, FormFactor, Inc. reported a gross profit of 90.76M and revenue of 215.16M. Therefore, the gross margin over that period was 42.2%.

TSM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 658.15B and revenue of 1.06T. Therefore, the gross margin over that period was 62.3%.

FORM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, FormFactor, Inc. reported an operating income of 23.49M and revenue of 215.16M, resulting in an operating margin of 10.9%.

TSM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 569.13B and revenue of 1.06T, resulting in an operating margin of 53.9%.

FORM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, FormFactor, Inc. reported a net income of 23.22M and revenue of 215.16M, resulting in a net margin of 10.8%.

TSM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 510.52B and revenue of 1.06T, resulting in a net margin of 48.4%.