ACM Research, Inc. (ACMR) vs IPG Photonics Corporation (IPGP)

ACM Research, Inc. and IPG Photonics Corporation are both Semiconductor Equipment & Materials companies. ACM Research, Inc. is the larger, with a market value of $5.4B against $3.3B — 1.6× the size. ACM Research, Inc. trades at the lower P/E: 34.4× against 118×. ACM Research, Inc. grew revenue faster over the last twelve months: 27.3% against 13.0%. ACM Research, Inc. has the higher net margin (14.5% vs 2.58%) and the higher return on invested capital (6.70% vs 0.40%). Across the 21 metrics below, ACM Research, Inc. leads on 12 and IPG Photonics Corporation on 9.

Valuation

Metric ACMR IPGP Semiconductor Equipment & Materials median
P/E 34.36 118.36 54.39
P/S 5.06 3.10 6.08
P/B 2.18 1.56 4.89
Price to free cash flow n/m 149.70 60.92
EV/EBITDA 25.86 40.35 39.95
EV/Sales 3.98 2.30 6.36
Earnings yield 2.91% 0.84% 1.14%
Free cash flow yield (2.27%) 0.67% 1.28%

Profitability

Metric ACMR IPGP Semiconductor Equipment & Materials median
Gross margin 43.84% 38.35% 43.95%
Operating margin 13.29% 0.75% 10.32%
Net margin 14.48% 2.58% 7.45%
Free cash flow margin (11.48%) 2.07% 6.77%
Return on equity 8.35% 1.30% 4.78%
Return on assets 5.52% 1.15% 3.62%
Return on invested capital 6.70% 0.40% 6.10%

Growth

Metric ACMR IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% 13.04% 14.60%
EPS growth (last fiscal year) (10.46%) 117.85% —
Revenue growth, 5-year CAGR 41.91% (3.52%) 8.85%
Net income growth, 5-year CAGR 38.03% (27.90%) 0.00%

Health

Metric ACMR IPGP Semiconductor Equipment & Materials median
Debt to equity 0.14 0.00 0.09
Current ratio 3.66 6.18 3.66
Net debt to EBITDA (7.00) (12.73) (0.49)

Dividend

Metric ACMR IPGP Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ACMR IPGP Semiconductor Equipment & Materials median
Market cap 5.38b 3.29b 4.63b

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