ACM Research, Inc. (ACMR) vs Veeco Instruments Inc. (VECO)

ACM Research, Inc. and Veeco Instruments Inc. are both Semiconductor Equipment & Materials companies. ACM Research, Inc. is the larger, with a market value of $4.9B against $3.2B — 1.6× the size. ACM Research, Inc. trades at the lower P/E: 31.7× against 138×. 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 3.35%) and the higher return on invested capital (6.70% vs 1.64%). Across the 21 metrics below, ACM Research, Inc. leads on 18 and Veeco Instruments Inc. on 3.

Valuation

Metric ACMR VECO Semiconductor Equipment & Materials median
P/E 31.72 137.83 55.07
P/S 4.67 4.68 6.18
P/B 2.01 3.54 4.34
Price to free cash flow n/m 37.51 60.27
EV/EBITDA 23.34 79.00 40.24
EV/Sales 3.59 4.42 6.12
Earnings yield 3.15% 0.73% 1.06%
Free cash flow yield (2.46%) 2.67% 1.27%

Profitability

Metric ACMR VECO Semiconductor Equipment & Materials median
Gross margin 43.84% 37.92% 43.95%
Operating margin 13.29% 2.69% 10.32%
Net margin 14.48% 3.35% 7.45%
Free cash flow margin (11.48%) 12.47% 6.77%
Return on equity 8.35% 2.60% 4.78%
Return on assets 5.52% 1.70% 3.62%
Return on invested capital 6.70% 1.64% 6.10%

Growth

Metric ACMR VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) 27.31% (2.52%) 14.60%
EPS growth (last fiscal year) (10.46%) (52.03%) (4.56%)
Revenue growth, 5-year CAGR 41.91% 7.90% 10.11%
Net income growth, 5-year CAGR 38.03% 0.00% 0.00%

Health

Metric ACMR VECO Semiconductor Equipment & Materials median
Debt to equity 0.14 0.25 0.09
Current ratio 3.66 3.93 3.66
Net debt to EBITDA (7.00) (2.95) (0.49)

Dividend

Metric ACMR VECO Semiconductor Equipment & Materials median
Dividend yield — — 0.35%
Payout ratio — — 0.19

Size

Metric ACMR VECO Semiconductor Equipment & Materials median
Market cap 4.93b 3.15b 4.70b

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