Sunday 11 October 2026
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ACM Research, Inc.
ACMR Technology Semiconductor Equipment & Materials
ACM Research, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $901.3 million, up 15.2% from fiscal 2024. In the quarter to June 2026, revenue grew 36.0%, EPS grew 178.7%, free cash flow fell 19.4% and total debt rose 22.6%, each against the same quarter a year earlier. Revenue growth for five consecutive years.
71.37
0.57
+0.81%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
2 | 6 | 4 | 3 | 3 | 1 | 5 | 6 | 2 | — |
P/E ratio |
26.84 | 9.15 | 14.47 | 14.55 | 43.72 | 79.65 | 16.33 | 27.21 | 0.00 | 0.00 |
Altman Z-Score |
2.93 | 2.17 | 2.53 | 1.78 | 5.39 | 8.04 | 3.21 | 3.50 | 1.86 | — |
P/S ratio |
2.81 | 1.20 | 2.01 | 1.46 | 6.31 | 9.46 | 2.88 | 2.30 | 1.06 | 6.99 |
P/FCF ratio |
0.00 | 14.13 | 0.00 | 0.00 | 0.00 | 0.00 | 37.45 | 35.54 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
6.67 | 5.50 | 5.47 | 5.60 | 8.65 | 5.43 | 6.00 | 4.57 | 5.05 | 3.32 |
Beneish M-Score |
(2.00) | (2.38) | (1.70) | (1.18) | (1.50) | (0.51) | (1.41) | (2.19) | (1.51) | (1.58) |
P/Operating CF |
74.65 | 10.60 | (29.29) | (713.51) | (45.18) | (268.79) | 21.90 | 17.83 | (11.20) | (22.15) |
Dividend Safety Score |
49 | — | — | — | — | — | — | — | — | — |
P/B ratio |
1.31 | 0.86 | 1.21 | 0.70 | 2.02 | 7.12 | 3.19 | 3.29 | 0.97 | 16.97 |
Price to Tangible BV |
1.31 | 0.86 | 1.22 | 0.70 | 2.02 | 7.13 | 3.20 | 3.30 | 0.97 | 17.03 |
EV/Sales |
1.83 | 0.86 | 1.67 | 0.79 | 4.16 | 9.11 | 1.94 | 2.07 | 0.71 | 6.41 |
EV/EBITDA |
13.14 | 4.19 | 8.95 | 4.76 | 26.33 | 63.29 | 11.22 | 22.39 | 26.70 | 0.00 |
EV/Operating CF |
(160.01) | 4.42 | (12.35) | (4.93) | (26.96) | (105.34) | 22.16 | 22.33 | (3.20) | (13.70) |
EV/FCF |
(24.55) | 10.14 | (6.66) | (1.98) | (21.70) | (20.67) | 25.18 | 31.88 | (2.92) | (12.77) |
Quick Ratio |
2.31 | 1.37 | 1.22 | 1.40 | 3.49 | 1.61 | 2.83 | 1.20 | 2.15 | 1.64 |
Current Ratio |
3.27 | 2.31 | 2.35 | 2.43 | 4.63 | 2.53 | 3.71 | 2.08 | 2.88 | 2.36 |
Net Debt/EBITDA |
(7.00) | (1.65) | (1.86) | (4.07) | (13.58) | (2.41) | (5.44) | (2.57) | (12.96) | (1.46) |
Debt/Assets |
10.03% | 9.85% | 6.18% | 6.23% | 3.32% | 13.40% | 7.70% | 9.17% | 7.50% | 10.71% |
Debt/Equity |
0.15 | 0.17 | 0.10 | 0.09 | 0.04 | 0.22 | 0.17 | 0.18 | 0.13 | 1.92 |
Asset Turnover |
0.38 | 0.47 | 0.41 | 0.34 | 0.37 | 0.56 | 0.67 | 0.87 | 0.65 | 0.71 |
Operating CF/Net income |
(0.11) | 1.47 | (0.97) | (1.58) | (1.06) | (0.72) | 0.50 | 1.05 | 25.47 | (5.74) |
Capex/Depreciation |
(3.49) | (8.62) | (7.95) | (17.24) | (4.13) | (52.59) | (1.43) | (4.97) | (2.83) | (4.33) |
Interest Coverage |
15.73 | 36.38 | 35.75 | 35.67 | 50.59 | 21.89 | 23.88 | 12.99 | 2.53 | 19.28 |
| 6.22% | 10.25% | 8.90% | 4.84% | 7.40% | 12.30% | 25.25% | 14.26% | (1.50%) | (64.69%) | |
| 3.98% | 6.19% | 5.67% | 3.43% | 5.42% | 6.72% | 11.78% | 7.69% | (0.57%) | 1.68% | |
ROIC |
6.51% | 11.36% | 8.17% | 6.71% | 9.52% | 8.73% | 0.00% | 11.67% | 1.60% | 0.00% |
Return on Tangible Assets |
4.69% | 9.32% | 8.82% | 6.04% | 4.96% | 11.32% | 12.72% | 12.27% | (0.73%) | 2.53% |
Average Days of Receivables |
224.92 | 200.64 | 213.14 | 202.64 | 178.34 | 154.09 | 114.38 | 137.68 | 292.48 | 237.22 |
Research and Development Expense of Revenue |
16.09% | 13.49% | 16.62% | 16.00% | 13.17% | 12.21% | 12.00% | 13.91% | 14.07% | 11.91% |
Selling, General and Administrative Expense of Revenue |
16.16% | 17.27% | 15.72% | 16.04% | 16.15% | 18.51% | 18.57% | 23.58% | 31.19% | 24.04% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
3.73% | 6.34% | 4.90% | 1.99% | 1.97% | 3.59% | 3.32% | 4.51% | 4.44% | 1.40% |
Graham Net Nets |
0.59 | 0.77 | 0.54 | 0.95 | 0.43 | 0.09 | 0.25 | 0.26 | 0.91 | 0.03 |
Graham Number |
31.54 | 25.57 | 21.14 | 14.27 | 14.35 | 5.40 | 4.04 | 1.82 | 0.00 | 0.00 |
Earnings Yield |
3.73% | 10.93% | 6.91% | 6.88% | 2.29% | 1.26% | 6.12% | 3.67% | (8.88%) | (1.68%) |
Free Cash Flow Yield |
(2.66%) | 7.08% | (12.43%) | (27.21%) | (3.04%) | (4.66%) | 2.67% | 2.81% | (23.02%) | (7.18%) |
Revenue per Share |
14.04 | 12.57 | 9.27 | 6.56 | 4.51 | 2.86 | 2.13 | 1.58 | 1.77 | 4.19 |
Operating CF per Share |
(0.16) | 2.45 | (1.25) | (1.05) | (0.70) | (0.25) | 0.19 | 0.15 | (0.39) | (0.57) |
Capex per Share |
(0.89) | (1.38) | (1.07) | (1.56) | (0.17) | (1.01) | (0.02) | (0.04) | (0.04) | (0.12) |
Free Cash Flow per Share |
(1.05) | 1.07 | (2.32) | (2.61) | (0.86) | (1.26) | 0.16 | 0.10 | (0.43) | (0.69) |
Cash per Share |
18.20 | 7.20 | 4.74 | 5.73 | 10.28 | 1.83 | 2.34 | 0.57 | 0.86 | 1.55 |
Shareholders Equity per Share |
30.08 | 17.62 | 15.39 | 13.71 | 14.08 | 3.81 | 1.93 | 1.10 | 1.94 | 0.38 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
30.08 | 17.62 | 15.39 | 13.71 | 14.08 | 3.81 | 1.93 | 1.10 | 1.94 | 0.38 |
Free Cash Flow |
(67.29) | 66.50 | (139.66) | (154.71) | (49.80) | (69.03) | 8.28 | 4.84 | (8.87) | (4.51) |
Working Capital |
1,690.97 | 842.15 | 675.45 | 567.59 | 747.00 | 157.75 | 144.89 | 49.89 | 41.10 | 23.28 |
Capital Expenditures |
(56.97) | (85.95) | (64.34) | (92.52) | (9.71) | (55.48) | (1.12) | (2.07) | (0.77) | (0.81) |
Net Current Asset Value |
1,495.00 | 723.56 | 611.36 | 540.48 | 712.42 | 127.57 | 78.01 | 45.31 | 34.88 | (1.63) |
EV/EBIT |
15.10 | 4.47 | 9.71 | 5.19 | 27.93 | 66.40 | 11.71 | 23.84 | 37.04 | 0.00 |
Capex to Sales |
0.06 | 0.11 | 0.12 | 0.24 | 0.04 | 0.35 | 0.01 | 0.03 | 0.02 | 0.03 |
Price to Operating Income |
23.14 | 6.22 | 11.72 | 9.63 | 42.34 | 68.92 | 17.42 | 26.57 | 55.02 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.05 | 0.04 | 0.04 | 0.06 | 0.17 | 0.13 | 0.22 | 0.11 | 0.12 | 0.08 |
Cash ROIC |
(1.99%) | 3.85% | (10.72%) | (12.60%) | (3.46%) | (19.51%) | 3.57% | 5.44% | (14.16%) | (25.98%) |
Accounts Receivable Turnover |
1.83 | 2.07 | 2.06 | 2.27 | 2.69 | 3.14 | 3.48 | 2.60 | 1.55 | 1.76 |
Accounts Payable Turnover |
2.49 | 2.53 | 2.09 | 1.89 | 2.12 | 3.56 | 3.80 | 3.34 | 3.06 | 3.86 |
Inventory Turnover |
0.77 | 0.68 | 0.60 | 0.67 | 0.94 | 1.30 | 1.36 | 1.48 | 1.43 | 1.35 |
Average Days of Payables |
180.23 | 145.25 | 198.66 | 206.68 | 255.31 | 149.33 | 85.12 | 151.41 | 140.45 | 134.46 |
Days of Inventory on Hand |
511.65 | 558.84 | 707.15 | 699.30 | 549.45 | 371.77 | 287.51 | 352.01 | 291.30 | 303.24 |
Average Receivables |
492.67 | 377.81 | 270.78 | 171.40 | 96.52 | 49.91 | 30.92 | 28.70 | 23.52 | 15.54 |
Average Payables |
201.46 | 154.32 | 134.71 | 108.78 | 68.48 | 24.43 | 14.97 | 12.05 | 6.30 | 3.63 |
Average Inventory |
650.31 | 571.69 | 469.28 | 305.64 | 153.38 | 66.72 | 41.78 | 27.08 | 13.53 | 10.41 |
Average Assets |
2,363.95 | 1,673.31 | 1,363.20 | 1,143.84 | 696.72 | 279.48 | 160.38 | 85.47 | 56.18 | 38.31 |
Average Common Equity |
1,513.21 | 1,011.03 | 869.17 | 811.92 | 509.92 | 152.74 | 74.82 | 46.09 | 21.17 | (1.00) |
Columns are period end dates