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. and IPG Photonics Corporation are of similar size ($2.7B and $2.6B). ACM Research, Inc. trades at the lower P/E: 17.8× against 65.0×. ACM Research, Inc. grew revenue faster over the last twelve months: 27.3% against 14.8%. ACM Research, Inc. has the higher net margin (14.5% vs 3.65%) and the higher return on invested capital (6.70% vs 1.06%). Across the 21 metrics below, ACM Research, Inc. leads on 14 and IPG Photonics Corporation on 7.

Valuation

Metric ACMR IPGP Semiconductor Equipment & Materials median
P/E 17.79 64.97 33.70
P/S 2.62 2.39 4.22
P/B 1.13 1.23 2.94
Price to free cash flow n/m 70.44 31.49
EV/EBITDA 10.01 23.54 22.64
EV/Sales 1.54 1.58 4.97
Earnings yield 5.62% 1.54% 2.02%
Free cash flow yield (4.38%) 1.42% 2.27%

Profitability

Metric ACMR IPGP Semiconductor Equipment & Materials median
Gross margin 43.84% 38.71% 46.86%
Operating margin 13.29% 1.89% 12.02%
Net margin 14.48% 3.65% 10.16%
Free cash flow margin (11.48%) 3.39% 6.73%
Return on equity 8.35% 1.90% 5.31%
Return on assets 5.52% 1.66% 4.10%
Return on invested capital 6.70% 1.06% 6.36%

Growth

Metric ACMR IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% 14.78% 15.82%
EPS growth (last fiscal year) (10.46%) 117.85% (4.56%)
Revenue growth, 5-year CAGR 41.91% (3.52%) 10.11%
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 5.99 3.56
Net debt to EBITDA (7.00) (12.73) (0.49)

Dividend

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

Size

Metric ACMR IPGP Semiconductor Equipment & Materials median
Market cap 2.74b 2.64b 3.04b

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