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 $5.4B against $3.5B — 1.5× the size. Ultra Clean Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; ACM Research, Inc. trades at 34.4×. 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 34.36 n/m 54.39
P/S 5.06 1.60 6.08
P/B 2.18 4.89 4.89
Price to free cash flow n/m n/m 60.92
EV/EBITDA 25.86 27.09 39.95
EV/Sales 3.98 1.76 6.36
Earnings yield 2.91% (0.67%) 1.14%
Free cash flow yield (2.27%) (3.23%) 1.28%

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%) —
Revenue growth, 5-year CAGR 41.91% 7.99% 8.85%
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 — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ACMR UCTT Semiconductor Equipment & Materials median
Market cap 5.38b 3.52b 4.63b

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