ACMR logo
ACM Research Inc.
ACMR
47.34 (0.90%) 0.42
Information Technology
Semiconductors and Semiconductor Equipment
ACM Research Inc. together with its subsidiaries develops manufactures and sells capital equipment in Mainland China and internationally. It also develops manufactures and sells a range of packaging tools to wafer assembly and packaging customers. The company provides wet cleaning equipment for front end production processes; electrochemical plating furnace PECVD and track platforms; Space Alternated Phase Shift technology for flat and wafer surfaces; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes; and Tahoe technology; and semi-critical cleaning tools. It also offers advanced packaging equipment such as coaters developers photoresist strippers scrubbers wet etchers and copper-plating equipment; and advanced packaging products include: Ultra ECP ap which delivers a uniform metal layer to finished wafers prior to packaging; Ultra C Developer which applies liquid developer to selected parts of photoresist to resolve an image; Ultra C PR Megasonic-Assisted Stripper which removes photoresist; Ultra C Scrubber which scrubs and cleans wafers; Ultra C Thin Wafer Scrubber which addresses a sub-market of cleaning very thin wafers for certain Asian assembly factories; and Ultra C Wet Etcher which etches silicon wafers and copper and titanium interconnects. In addition the company provides ECP technology for advanced metal plating; Ultra fn Furnace a dry processing tool; Ultra Pmax PECVD tools a proprietary designed chamber gas distribution unit and chuck; and Ultra Track a 300mm process tool that delivers uniform air downflow fast robot handling and configurable software to address specific customer requirements. It markets and sells its products under the SAPS TEBO ULTRA C ULTRA Fn Ultra ECP Ultra ECP map and Ultra ECP ap trademarks through direct sales force and third-party representatives. ACM Research Inc. was incorporated in 1998 and is headquartered in Fremont California.

Quality Checklist 6/8

Debt/Equity < 1
Current Ratio > 1
Quick Ratio > 1
Net Margin > 10%
Past Net Income CAGR > 0%
Est. EPS Growth > 5%
5Y Shares Out Change < 0%
ROIC > 10%
0.0%of Portfolio

My holdings

Day change:
Total change:
Shares:
Cost basis:
Market cap: $3.11(B)
EV: $2.16(B)
Total Equity: $1.93(B)
Earnings date: Feb-26-2026
P/E: 32.20
Forward P/E: 26.45
P/FCF: N/A
P/S: 3.37
P/B: 2.12
EPS: $1.5
EPS (fwd): $1.8
FCF/share: $-1.0
Revenue/share: $14.0
Book value/share: $22.3
ROIC: 5.8%
ROA: 5.1%
ROE: 10.1%
Debt/Equity: 0.15
Current Ratio: 3.30
Gross margin: 44.4%
Operating margin: 14.8%
Net margin: 10.4%
Dividend/share: $0.0
Div. yield: 0.00%

ACMR Valuation & Price Targets

Current Price
$47.3

Favorite Valuation Methods

More Valuation Methods

DCF (simple)
N/A
N/A
DCF (exit mult.)
N/A
N/A
DDM
N/A
N/A
EPS growth
N/A
N/A
Revenue growth
N/A
N/A
Peter Lynch FV
N/A
N/A
Graham No.
N/A
N/A

PEvaluation

57% overvalued
Low
$15.4
Mid
$20.5
High
$25.7
Current price
$47.3
Fair P/E
Margin of safety
EPS
Market Model
ROICRevenue growthFCF MarginShares outstan...Debt/EquityDebt/EBITDA
Economic moat: None/narrow

EPS Estimates

LowAvgHigh#
FY+11.71.81.93
FY+22.02.32.43

Analyst Price Targets

46% undervalued
Low
$66.0
Mid
$69.0
High
$82.0
Current price
$47.3

Analyst Recommendations

Strong Buy2
Buy4
Hold1
Sell0
Strong Sell0

2-stage DCF

First Stage Duration: 5 Years
Starting Free Cash Flow
First Stage Growth Rate
LowMidHigh
Terminal Growth Rate
LowMidHigh
Discount Rate

Discounted Cash Flow

Forecast years: 5 Years
Terminal Growth Rate
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Discounted Cash Flow (exit mult.)

Forecast years: 5 Years
Exit FCF Multiple
LowMidHigh
Discount Rate
Free cash flow estimates:
Y+1 est.
Y+2 est.
0.00%
Y+3 est.
0.00%
Y+4 est.
0.00%
Y+5 est.
0.00%

Dividend Discount Model

Annual Dividend
First Stage Length (Years): 0 Years
First Stage Growth Rate
Final Growth Rate
Discount Rate

EPS Growth

Forecast years: 5 Years
Starting EPS
EPS Growth Rate
LowMidHigh
Final P/E
LowMidHigh
Discount Rate

Revenue Growth Valuation

Forecast Years: 10 Years
Base Revenue
Revenue Growth Rate
LowMidHigh
Final Net Margin
LowMidHigh
Final P/E Ratio
LowMidHigh
Discount Rate

Peter Lynch Fair Value

Earnings Per Share
Growth Rate

Graham Formula

Earnings Per Share
EPS Growth (7-10 years)
Government Bond Rate

TTM Financials

Income (TTM)

RevenueGrossNet
Revenue$901.31(M)
Gross profit$400.07(M)
EBITDA$125.76(M)
Net income$94.08(M)
Gross margin44.4%
Operating margin14.8%
Net margin10.4%
Shares outstanding65.73(M)

Balance sheet

Cash & ST inv.Other ST assetsLong term assetsCurrent liabilitiesLong term debtOther LT liabilitiesEquity
Total assets$2.87(B)
Current assets$2.44(B)
Total liabilities$941.68(M)
Current liabilities$745.71(M)
Cash & Short-term inv.$1.16(B)
Long-term debt$178.93(M)
Total intangibles$2.85(M)
PP&E$332.75(M)

Cash flow (TTM)

CFOCFICFF
FCF$-66.61(M)
CapEx$-56.28(M)
Dividends paid$0
Stock issued$657.73(M)
Stock repurchased$-6.99(M)
Stock-based comp.$33.58(M)
Debt issued$206.66(M)
Debt repaid$-107.58(M)

Per share data (TTM)

Price: $47.3
Revenue: $14.0 (3.4x | 29.7%) Gross profit: $6.09 (7.8x | 12.9%) Earnings: $1.47 (32.2x | 3.1%)
FCF: $-1.02 (-46.4x | -2.2%) Stock-based Comp.: $0.51 (92.7x | 1.1%) CapEx.: $0.86 (55.3x | 1.8%) Dividend: $0.00 (N/A | 0.0%)
Total Assets: $43.7 (1.1x | 92.3%) Total Liabilities: $14.3 (3.3x | 30.3%) Book Value: $22.3 (2.1x | 47.1%) Cash & ST inv.: $17.6 (2.7x | 37.3%) Debt: $2.72 (17.4x | 5.8%)
Earnings FY+1: $1.79 (26.4x | 3.8%) Earnings FY+2: $2.28 (20.8x | 4.8%)
FCF FY+1: $0.08 (560.6x | 0.2%) FCF FY+2: $-0.50 (-94.7x | -1.1%) FCF FY+3: $1.67 (28.4x | 3.5%) FCF FY+4: $1.82 (26.1x | 3.8%) FCF FY+5: $2.99 (15.9x | 6.3%)

Summary

Growth Estimates

Revenue

CAGR: 21.9%
FY+1FY+2FY+3FY+4FY+5
FY+1$1.14(B)
FY+2(+23.1%)$1.41(B)
FY+3(+18.8%)$1.67(B)
FY+4(+29.3%)$2.16(B)
FY+5(+16.7%)$2.52(B)

Net Income

CAGR: 29.2%
FY+1FY+2
FY+1$123.97(M)
FY+2(+29.2%)$160.13(M)

EPS

CAGR: 27.4%
FY+1FY+2
FY+1$1.79
FY+2(+27.4%)$2.28

FCF per share

CAGR: 143.8%
FY+1FY+2FY+3FY+4FY+5
FY+1$0.08
FY+2(NaN%)$-0.50
FY+3(+NaN%)$1.67
FY+4(+8.8%)$1.82
FY+5(+64.5%)$2.99

Historical Financials

Showing limited histrical data.
TTM (Y)TTM (Q)FYFQ
Income(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.0200.0(M)400.0(M)600.0(M)800.0(M)
Revenue Operating Income Net IncomeCOGSGross ProfitTotal OpEx.R&DSG&AInterest ExpenseInterest IncomeOther Non-operating IncomePre-tax incomeIncome tax
Cash flow(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)-150.0(M)-100.0(M)-50.0(M)0.050.0(M)
Stock-based Comp. FCFCFONet IncomeD&AChange in Working CapitalCFFStock IssuedStock RepurchasedDebt IssuedDebt RepaidDividend PaidCFIAcquisitionsDivestituresCapital Expenditures
Balance sheet(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.0500.0(M)1.0(B)1.5(B)2.0(B)2.5(B)
Total Assets Total LiabilitiesCurrent assetsCash and EquivalentsShort-term investmentsInventoriesReceivablesNon-current assetsNet PP&EIntangible AssetsGoodwillCurrent liabilitiesShort-Term DebtAccounts payableNon-current liabilitiesLong-Term DebtTotal Equity
Per share data(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)-2.0-1.00.01.0
EPS (Basic) FCF/Share Dividend/ShareEPS (Diluted)Book value/ShareCash & ST inv./ShareDebt/Share
Ratios(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.020.040.060.0
P/E P/S EV/EarningsP/FCFP/BEV/FCFDebt/EquityPayout ratio
Margins(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%10%20%30%40%50%
Net Income Margin Operating Margin Gross MarginEBITDA MarginFCF Margin
Returns(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0%2%4%6%8%10%12%
ROIC ROAROCEROE
Shares outstanding(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.010.0(M)20.0(M)30.0(M)40.0(M)50.0(M)60.0(M)
Shares (Basic)Shares (Diluted)
Market Cap.(show more...)
Q3'20 (TTM)Q3'21 (TTM)Q3'22 (TTM)Q3'23 (TTM)Q3'24 (TTM)Q3'25 (TTM)0.0500.0(M)1.0(B)1.5(B)2.0(B)2.5(B)
Market Cap.

ACMR vs Peers

Similar Companies

Ownership

Major holders

*Excludes indirect insider ownership

Insiders: 14.79%
Institutions: 79.11%
Other: 6.10%

Institutional ownership

12.99% Blackrock Inc.8.19% Vanguard Group Inc3.92% LSV Asset Management3.23% State Street Corporati...3.18% Triata Capital Ltd2.77% Southeastern Asset Man...2.29% Morgan Stanley2.21% Geode Capital Manageme...2.21% Invesco Ltd.1.78% Janus Henderson Group ...36.34% Others

Trading Summary

In the past year, insiders have bought $0.00 worth of the company's stock, and sold $32.29(M).

Congress members have bought between $0.00 - $0.00 worth of the company's stock, and sold between $0.00 - $0.00.

Insider transactions

$0.002026-04$0.00
$4.76(M)2026-03$0.00
$0.002026-02$0.00
$0.002026-01$0.00
$9.43(M)2025-12$0.00
$9979502025-11$0.00
$0.002025-10$0.00
$5.35(M)2025-09$0.00
$2.19(M)2025-08$0.00
$8700002025-07$0.00
$3900002025-06$0.00
$3.39(M)2025-05$0.00
$0.002025-04$0.00
DateSharesTotal ($)Price ($)NameTitle
Sell2026-03-1160,0002,850,78247.5LIU TRACY DONG CPADirector
Grant2026-03-1160,00060,0001.0LIU TRACY DONG CPADirector
Sell2026-03-095,000217,36343.5DUN HAIPINGDirector
Grant2026-03-095,00028,0005.6DUN HAIPINGDirector
Sell2026-03-0630,0001,441,29048.0FENG LISA YI LUOfficer
Grant2026-03-0630,000136,5004.5FENG LISA YI LUOfficer
Sell2026-03-055,000250,45050.1PAPPIS CHARLES CDirector
Grant2026-03-055,000145,90029.2PAPPIS CHARLES CDirector
Sell2025-12-0831,2501,091,50734.9MCKECHNIE MARK AChief Financial Officer
Grant2025-12-0831,250612,43819.6MCKECHNIE MARK AChief Financial Officer
Sell2025-12-04130,0004,361,47733.5WANG DAVID HUIChief Executive Officer
Grant2025-12-04130,000130,0001.0WANG DAVID HUIChief Executive Officer
Sell2025-12-03120,0003,981,15633.2CHEN FUPINGOfficer
Grant2025-12-03120,000212,4001.8CHEN FUPINGOfficer
Sell2025-11-1330,000997,95033.3FENG LISA YI LUOfficer
Grant2025-11-1330,000168,0005.6FENG LISA YI LUOfficer
Grant2025-11-12755,09000.0DUN HAIPINGDirector
Sell2025-09-1810,000350,00035.0CHEAV SOTHEARAOfficer
Sell2025-09-1830,0001,050,00035.0WANG JIANOfficer
Grant2025-09-1810,000138,90013.9CHEAV SOTHEARAOfficer
Grant2025-09-1830,000168,0005.6WANG JIANOfficer
Sell2025-09-1715,000495,00033.0LIU TRACY DONG CPADirector
Grant2025-09-1715,00015,0001.0LIU TRACY DONG CPADirector
Grant2025-09-08130,000130,0001.0WANG DAVID HUIChief Executive Officer
Sell2025-09-04130,0003,459,78726.6WANG DAVID HUIChief Executive Officer
Grant2025-09-04130,000130,0001.0WANG DAVID HUIChief Executive Officer
Sell2025-08-2560,0001,860,00031.0WANG JIANOfficer
Grant2025-08-2560,000336,0005.6WANG JIANOfficer
Sell2025-08-2211,152334,56030.0CHEAV SOTHEARAOfficer
Grant2025-08-2211,152154,90113.9CHEAV SOTHEARAOfficer
Sell2025-07-1515,000450,00030.0LIU TRACY DONG CPADirector
Grant2025-07-1515,00015,0001.0LIU TRACY DONG CPADirector
Sell2025-07-0715,000420,00028.0FENG LISA YI LUOfficer
Grant2025-07-0715,00084,0005.6FENG LISA YI LUOfficer
Sell2025-06-2415,000390,00026.0FENG LISA YI LUOfficer
Grant2025-06-2415,00084,0005.6FENG LISA YI LUOfficer
Sell2025-05-22130,0003,009,80423.2WANG DAVID HUIChief Executive Officer
Grant2025-05-22130,000130,0001.0WANG DAVID HUIChief Executive Officer
Sell2025-05-1415,000378,30025.2MCKECHNIE MARK AChief Financial Officer
Grant2025-05-1415,00084,0005.6MCKECHNIE MARK AChief Financial Officer
Sell2025-03-17163,3084,899,24030.0HU CHENMING CDirector

Congressional trading

Congressional trading data not available.

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