ACM Research, Inc. (ACMR) vs Aehr Test Systems (AEHR)

ACM Research, Inc. and Aehr Test Systems are both Semiconductor Equipment & Materials companies. ACM Research, Inc. is the larger, with a market value of $2.7B against $1.6B — 1.7× the size. Aehr Test Systems has negative trailing earnings, so its P/E is not meaningful; ACM Research, Inc. trades at 17.8×. ACM Research, Inc. grew revenue faster over the last twelve months: 27.3% against −15.2%. ACM Research, Inc. has the higher net margin (14.5% vs −14.3%) and the higher return on invested capital (6.70% vs −8.57%). Across the 19 metrics below, ACM Research, Inc. leads on 15 and Aehr Test Systems on 4.

Valuation

Metric ACMR AEHR Semiconductor Equipment & Materials median
P/E 17.79 n/m 33.70
P/S 2.62 30.47 4.22
P/B 1.13 6.94 2.94
Price to free cash flow n/m n/m 31.49
EV/EBITDA 10.01 n/m 22.64
EV/Sales 1.54 28.18 4.97
Earnings yield 5.62% (0.48%) 2.02%
Free cash flow yield (4.38%) (0.35%) 2.27%

Profitability

Metric ACMR AEHR Semiconductor Equipment & Materials median
Gross margin 43.84% 35.30% 46.86%
Operating margin 13.29% (28.30%) 12.02%
Net margin 14.48% (14.25%) 10.16%
Free cash flow margin (11.48%) (10.75%) 6.73%
Return on equity 8.35% (4.16%) 5.31%
Return on assets 5.52% (3.61%) 4.10%
Return on invested capital 6.70% (8.57%) 6.36%

Growth

Metric ACMR AEHR Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% (15.21%) 15.82%
EPS growth (last fiscal year) (10.46%) (76.92%) (4.56%)
Revenue growth, 5-year CAGR 41.91% 24.67% 10.11%
Net income growth, 5-year CAGR 38.03% 0.00% 0.00%

Health

Metric ACMR AEHR Semiconductor Equipment & Materials median
Debt to equity 0.14 0.00 0.09
Current ratio 3.66 10.33 3.56
Net debt to EBITDA (7.00) 10.96 (0.49)

Dividend

Metric ACMR AEHR Semiconductor Equipment & Materials median
Dividend yield — — 0.59%
Payout ratio — — 0.16

Size

Metric ACMR AEHR Semiconductor Equipment & Materials median
Market cap 2.74b 1.61b 3.04b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack