ACM Research, Inc. (ACMR) vs Ultra Clean Holdings, Inc. (UCTT)

ACM Research, Inc. and Ultra Clean Holdings, Inc. are both Semiconductor Equipment & Materials companies. ACM Research, Inc. is the larger, with a market value of $3.4B against $2.6B — 1.3× the size. Ultra Clean Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; ACM Research, Inc. trades at 20.2×. ACM Research, Inc. grew revenue faster over the last twelve months: 27.3% against 2.52%. ACM Research, Inc. has the higher net margin (14.5% vs −1.07%) and the higher return on invested capital (6.70% vs 3.68%). Across the 20 metrics below, ACM Research, Inc. leads on 17 and Ultra Clean Holdings, Inc. on 3.

Valuation

Metric ACMR UCTT Semiconductor Equipment & Materials median
P/E 20.18 n/m 41.61
P/S 2.97 1.02 4.69
P/B 1.28 3.11 3.47
Price to free cash flow n/m n/m 48.35
EV/EBITDA 12.30 18.15 30.54
EV/Sales 1.89 1.18 5.65
Earnings yield 4.95% (1.05%) 1.34%
Free cash flow yield (3.86%) (5.07%) 1.86%

Profitability

Metric ACMR UCTT Semiconductor Equipment & Materials median
Gross margin 43.84% 15.83% 43.95%
Operating margin 13.29% 2.84% 10.32%
Net margin 14.48% (1.07%) 7.45%
Free cash flow margin (11.48%) (5.15%) 6.77%
Return on equity 8.35% (3.11%) 4.78%
Return on assets 5.52% (1.28%) 3.62%
Return on invested capital 6.70% 3.68% 6.10%

Growth

Metric ACMR UCTT Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% 2.52% 14.60%
EPS growth (last fiscal year) (10.46%) (869.23%) (4.56%)
Revenue growth, 5-year CAGR 41.91% 7.99% 10.11%
Net income growth, 5-year CAGR 38.03% 0.00% 0.00%

Health

Metric ACMR UCTT Semiconductor Equipment & Materials median
Debt to equity 0.14 0.84 0.09
Current ratio 3.66 2.73 3.66
Net debt to EBITDA (7.00) 1.35 (0.49)

Dividend

Metric ACMR UCTT Semiconductor Equipment & Materials median
Dividend yield — — 0.46%
Payout ratio — — 0.19

Size

Metric ACMR UCTT Semiconductor Equipment & Materials median
Market cap 3.43b 2.62b 3.46b

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