ACM Research, Inc. (ACMR) vs Nova Ltd. (NVMI)

ACM Research, Inc. and Nova Ltd. are both Semiconductor Equipment & Materials companies. Nova Ltd. is the larger, with a market value of $11.7B against $5.4B — 2.2× the size. ACM Research, Inc. trades at the lower P/E: 34.4× against 42.4×. ACM Research, Inc. grew revenue faster over the last twelve months: 27.3% against 16.2%. Nova Ltd. has the higher net margin (28.8% vs 14.5%) and the higher return on invested capital (14.4% vs 6.70%). Across the 21 metrics below, ACM Research, Inc. leads on 12 and Nova Ltd. on 9.

Valuation

Metric ACMR NVMI Semiconductor Equipment & Materials median
P/E 34.36 42.42 54.39
P/S 5.06 12.49 6.08
P/B 2.18 8.88 4.89
Price to free cash flow n/m 61.71 60.92
EV/EBITDA 25.86 41.45 39.95
EV/Sales 3.98 12.96 6.36
Earnings yield 2.91% 2.36% 1.14%
Free cash flow yield (2.27%) 1.62% 1.28%

Profitability

Metric ACMR NVMI Semiconductor Equipment & Materials median
Gross margin 43.84% 57.12% 43.95%
Operating margin 13.29% 28.97% 10.32%
Net margin 14.48% 28.84% 7.45%
Free cash flow margin (11.48%) 20.24% 6.77%
Return on equity 8.35% 0.00% 4.78%
Return on assets 5.52% 13.44% 3.62%
Return on invested capital 6.70% 14.41% 6.10%

Growth

Metric ACMR NVMI Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% 16.16% 14.60%
EPS growth (last fiscal year) (10.46%) 38.43% —
Revenue growth, 5-year CAGR 41.91% 26.73% 8.85%
Net income growth, 5-year CAGR 38.03% 40.17% 0.00%

Health

Metric ACMR NVMI Semiconductor Equipment & Materials median
Debt to equity 0.14 0.50 0.09
Current ratio 3.66 1.55 3.66
Net debt to EBITDA (7.00) (1.16) (0.49)

Dividend

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

Size

Metric ACMR NVMI Semiconductor Equipment & Materials median
Market cap 5.38b 11.67b 4.63b

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