ACMR · Acm Research, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $231.26M | - | $269.16M | $215.37M | $172.35M | - | $203.98M | $202.48M | $152.19M | - |
| Cost of Revenue | $124.03M | - | $156.01M | $110.91M | $89.80M | - | $99.14M | $105.70M | $73.07M | - |
| Gross Profit | $107.24M | - | $113.15M | $104.46M | $82.55M | - | $104.83M | $96.78M | $79.12M | - |
| R&D | $36.55M | - | $39.65M | $33.82M | $27.50M | - | $27.84M | $25.97M | $23.92M | - |
| SG&A | $13.82M | - | $22.26M | $16.85M | $12.93M | - | $17.05M | $16.09M | $15.80M | - |
| Total Operating Expenses | $71.06M | - | $84.23M | $72.77M | $56.77M | - | $60.65M | $59.19M | $53.89M | - |
| D&A | $5.16M | - | $2.46M | $3.52M | $2.38M | - | $2.39M | $2.21M | $2.48M | - |
| Operating Income | $36.18M | - | $28.92M | $31.69M | $25.78M | - | $44.18M | $37.59M | $25.23M | - |
| Interest Expense | $1.93M | - | $1.85M | $1.76M | $783.0K | - | $640.0K | $932.0K | $783.0K | - |
| Income Tax | $3.77M | - | $2.69M | $1.89M | $2.15M | - | $4.01M | $9.34M | $4.37M | - |
| Net Income | $17.31M | - | $35.89M | $29.76M | $20.38M | - | $30.90M | $24.21M | $17.43M | - |
| EPS - Basic | $0.26 | - | $0.56 | $0.47 | $0.32 | - | $0.49 | $0.39 | $0.28 | - |
| EPS - Diluted | $0.24 | - | $0.52 | $0.44 | $0.30 | - | $0.45 | $0.35 | $0.26 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $872.27M | $757.37M | $1.06B | $442.09M | $457.24M | $407.44M | $333.47M | $324.03M | $211.31M | $182.09M |
| Accounts Receivable | $526.51M | $504.25M | $477.00M | $433.66M | $387.85M | $387.05M | $370.59M | $293.50M | $296.37M | $283.19M |
| Inventory | $738.00M | $702.63M | $676.41M | $648.28M | $609.57M | $597.98M | $628.72M | $602.93M | $545.39M | $545.39M |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $2.62B | $2.44B | $2.36B | $1.65B | $1.55B | $1.48B | $1.45B | $1.34B | $1.23B | $1.18B |
| Total Assets | $3.07B | $2.87B | $2.77B | $2.04B | $1.93B | $1.86B | $1.79B | $1.67B | $1.56B | $1.49B |
| Current Liabilities | $745.68M | $745.71M | $677.87M | $671.01M | $628.88M | $641.23M | $610.03M | $586.17M | $533.25M | $500.66M |
| Long-term Debt | $220.86M | $178.93M | $193.36M | $162.99M | $134.54M | $105.53M | $106.07M | $70.83M | $53.41M | $53.95M |
| Total Liabilities | $982.43M | $941.68M | $885.43M | $848.03M | $778.41M | $759.82M | $725.09M | $666.19M | $595.96M | $564.75M |
| Stockholders' Equity | $1.58B | $1.46B | $1.43B | $986.45M | $949.15M | $904.63M | $888.17M | $833.17M | $796.20M | $767.39M |
| Retained Earnings | $367.74M | $350.43M | $346.03M | $310.14M | $280.38M | $260.00M | $229.37M | $198.47M | $174.26M | $156.83M |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($29.54M) | - | - | - | $5.28M | - | - | - | ($9.65M) | - |
| Investing Cash Flow | ($9.79M) | - | - | - | ($16.84M) | - | - | - | $12.29M | - |
| Financing Cash Flow | $163.40M | - | - | - | $67.21M | - | - | - | $26.85M | - |
| CapEx | $22.20M | - | - | - | $16.73M | - | - | - | $25.42M | - |
| Free Cash Flow | ($51.74M) | - | - | - | ($11.44M) | - | - | - | ($35.07M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 46.4% | - | 42.0% | 48.5% | 47.9% | - | 51.4% | 47.8% | 52.0% | - |
| Operating margin | 15.6% | - | 10.7% | 14.7% | 15.0% | - | 21.7% | 18.6% | 16.6% | - |
| EBITDA margin | 17.9% | - | 11.7% | 16.3% | 16.3% | - | 22.8% | 19.7% | 18.2% | - |
| Net margin | 7.5% | - | 13.3% | 13.8% | 11.8% | - | 15.2% | 12.0% | 11.5% | - |
| Free cash flow margin | -22.4% | - | - | - | -6.6% | - | - | - | -23.0% | - |
| FCF / Net income | -2.99 | - | - | - | -0.56 | - | - | - | -2.01 | - |
| R&D / Revenue | 15.8% | - | 14.7% | 15.7% | 16.0% | - | 13.6% | 12.8% | 15.7% | - |
| SG&A / Revenue | 6.0% | - | 8.3% | 7.8% | 7.5% | - | 8.4% | 7.9% | 10.4% | - |
| Effective tax rate | 17.9% | - | 7.0% | 6.0% | 9.6% | - | 11.5% | 27.8% | 20.0% | - |
| Return on assets | 0.6% | - | 1.3% | 1.5% | 1.1% | - | 1.7% | 1.5% | 1.1% | - |
| Return on equity | 1.1% | - | 2.5% | 3.0% | 2.1% | - | 3.5% | 2.9% | 2.2% | - |
| Return on invested capital | 1.6% | - | 1.7% | 2.6% | 2.2% | - | 3.9% | 3.0% | 2.4% | - |
| Liquidity | ||||||||||
| Current ratio | 3.51 | 3.27 | 3.48 | 2.45 | 2.46 | 2.31 | 2.37 | 2.29 | 2.31 | 2.35 |
| Quick ratio | 2.52 | 2.33 | 2.48 | 1.49 | 1.49 | 1.38 | 1.34 | 1.26 | 1.28 | 1.26 |
| Cash ratio | 1.17 | 1.02 | 1.56 | 0.66 | 0.73 | 0.64 | 0.55 | 0.55 | 0.40 | 0.36 |
| Leverage | ||||||||||
| Debt / Equity | 0.14 | 0.12 | 0.13 | 0.17 | 0.14 | 0.12 | 0.12 | 0.09 | 0.07 | 0.07 |
| Debt / Assets | 0.07 | 0.06 | 0.07 | 0.08 | 0.07 | 0.06 | 0.06 | 0.04 | 0.03 | 0.04 |
| Debt / EBITDA | 5.34 | - | 6.16 | 4.63 | 4.78 | - | 2.28 | 1.78 | 1.93 | - |
| Interest coverage | 18.7x | - | 15.6x | 18.0x | 32.9x | - | 69.0x | 40.3x | 32.2x | - |
| Equity multiplier | 1.94 | 1.96 | 1.93 | 2.07 | 2.04 | 2.05 | 2.02 | 2.00 | 1.96 | 1.94 |
| Liabilities / Assets | 0.32 | 0.33 | 0.32 | 0.42 | 0.40 | 0.41 | 0.40 | 0.40 | 0.38 | 0.38 |
| Efficiency | ||||||||||
| Asset turnover | 0.08 | - | 0.10 | 0.11 | 0.09 | - | 0.11 | 0.12 | 0.10 | - |
| Inventory turnover | 0.17 | - | 0.23 | 0.17 | 0.15 | - | 0.16 | 0.18 | 0.13 | - |
| Days sales outstanding | 831d | - | 647d | 735d | 821d | - | 663d | 529d | 711d | - |
| Days inventory outstanding | 2172d | - | 1583d | 2133d | 2478d | - | 2315d | 2082d | 2724d | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 164.0x | - | 75.3x | 58.9x | 77.8x | - | 45.1x | 65.9x | 112.1x | - |
| P / B | 1.7x | - | 1.9x | 1.8x | 1.6x | - | 1.5x | 1.9x | 2.4x | - |
| P / S | 11.9x | - | 9.9x | 8.1x | 9.1x | - | 6.6x | 7.6x | 12.7x | - |
| EV / EBITDA | 50.7x | - | 57.7x | 41.7x | 44.0x | - | 24.2x | 32.5x | 64.0x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 34.2% | - | 32.0% | 6.4% | 13.2% | - | 21.0% | 40.0% | 105.0% | - |
| Revenue CAGR (3y) | 46.0% | - | 26.3% | 27.3% | 59.9% | - | 44.9% | 55.5% | 51.5% | - |
| Revenue CAGR (5y) | 39.5% | - | 41.4% | 49.3% | 47.9% | - | 43.6% | 47.5% | 49.4% | - |
| Gross profit growth (YoY) | 29.9% | - | 7.9% | 7.9% | 4.3% | - | 18.4% | 41.0% | 97.9% | - |
| Operating income growth (YoY) | 40.3% | - | -34.5% | -15.7% | 2.2% | - | 33.2% | 23.5% | 184.7% | - |
| Net income growth (YoY) | -15.1% | - | 16.1% | 22.9% | 16.9% | - | 20.3% | -9.7% | 144.0% | - |
| EPS growth (YoY) | -20.0% | - | 15.6% | 25.7% | 15.4% | - | 15.4% | -14.6% | 136.4% | - |
| EPS CAGR (3y) | 29.7% | - | 17.6% | 34.7% | - | - | -0.7% | 5.3% | 1.3% | - |
| EPS CAGR (5y) | -0.8% | - | 5.4% | - | 30.3% | - | 0.0% | 8.8% | 21.1% | - |
| FCF growth (YoY) | -352.1% | - | - | - | 67.4% | - | - | - | 22.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 66.6% | 61.9% | 61.3% | 18.4% | 19.2% | 17.9% | 21.8% | 20.4% | 15.1% | 13.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$901.31M totalTotal Single Wafer And Semi Critical Cleaning Equipment$625.96M · 69.5%
ECPFront End And Packaging Furnace And Other Technologies$199.55M · 22.1%
Advanced Packaging Exclude ECPServices Spares$75.79M · 8.4%
Peer comparison
Same SIC group: Special Industry Machinery, NEC
Comparing ACM Research against the 5 most active filers in the same SIC group.