CoverageForm 410-K10-Q8-K13D13G13F

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.

Price · ACMR

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$901.31M$782.12M$557.72M$388.83M$259.75M$156.62M
Cost of Revenue$501.24M$390.56M$281.51M$205.22M$144.90M$87.03M
Gross Profit$400.07M$391.55M$276.21M$183.62M$114.86M$69.60M
R&D$144.99M$105.47M$92.71M$62.23M$34.21M$19.12M
SG&A$68.75M$69.64M$40.65M$22.46M$15.21M$12.21M
Total Operating Expenses$290.64M$240.56M$180.38M$124.58M$76.15M$48.11M
D&A$14.40M$6.57M$8.09M$5.37M$2.35M$1.05M
Operating Income$109.43M$151.00M$95.84M$59.03M$38.70M$21.49M
Interest Expense$6.96M$4.15M$2.68M$1.66M$765.0K$982.0K
Income Tax$13.30M$35.03M$19.36M$16.80M$134.0K($2.38M)
Net Income$94.08M$103.63M$77.35M$39.26M$37.76M$18.78M
EPS - Basic$1.47$1.67$1.29$0.66$0.65$0.34
EPS - Diluted$1.37$1.53$1.16$0.59$0.58$0.30

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$757.37M$407.44M$182.09M$247.95M$563.07M$71.77M
Accounts Receivable$504.25M$387.05M$283.19M$182.94M$105.55M$56.44M
Inventory$702.63M$597.98M$545.39M$393.17M$218.12M$88.64M
Accounts Payable---$101.73M$101.35M$35.60M
Current Assets$2.44B$1.48B$1.18B$963.81M$952.93M$260.66M
Total Assets$2.87B$1.86B$1.49B$1.24B$1.05B$341.26M
Current Liabilities$745.71M$641.23M$500.66M$396.21M$205.94M$102.91M
Long-term Debt$178.93M$105.53M$53.95M$18.69M$22.96M$0
Total Liabilities$941.68M$759.82M$564.75M$423.33M$240.51M$133.09M
Stockholders' Equity$1.46B$904.63M$767.39M$674.86M$676.20M$141.15M
Retained Earnings$350.43M$260.00M$156.83M$94.43M$72.04M$34.29M

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow($10.32M)$152.45M($75.32M)($62.19M)($40.09M)($13.55M)
Investing Cash Flow($390.33M)($11.96M)($6.75M)($265.67M)($11.28M)($69.95M)
Financing Cash Flow$742.49M$92.48M$18.53M$45.87M$538.77M$32.83M
CapEx$56.28M$82.46M$61.88M$91.09M$9.15M$5.21M
Free Cash Flow($66.61M)$69.99M($137.20M)($153.29M)($49.25M)($18.76M)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin44.4%50.1%49.5%47.2%44.2%44.4%
Operating margin12.1%19.3%17.2%15.2%14.9%13.7%
EBITDA margin13.7%20.1%18.6%16.6%15.8%14.4%
Net margin10.4%13.2%13.9%10.1%14.5%12.0%
Free cash flow margin-7.4%8.9%-24.6%-39.4%-19.0%-12.0%
FCF / Net income-0.710.68-1.77-3.90-1.30-1.00
R&D / Revenue16.1%13.5%16.6%16.0%13.2%12.2%
SG&A / Revenue7.6%8.9%7.3%5.8%5.9%7.8%
Effective tax rate12.4%25.3%20.0%30.0%0.4%-14.5%
Return on assets3.3%5.6%5.2%3.2%3.6%5.5%
Return on equity6.4%11.5%10.1%5.8%5.6%13.3%
Return on invested capital5.8%11.2%9.3%6.0%5.5%15.2%
Liquidity
Current ratio3.272.312.352.434.632.53
Quick ratio2.331.381.261.443.571.67
Cash ratio1.020.640.360.632.730.70
Leverage
Debt / Equity0.120.120.070.030.030.00
Debt / Assets0.060.060.040.020.020.00
Debt / EBITDA1.440.670.520.290.560.00
Interest coverage15.7x36.4x35.7x35.7x50.6x21.9x
Equity multiplier1.962.051.941.831.562.42
Liabilities / Assets0.330.410.380.340.230.39
Efficiency
Asset turnover0.310.420.370.310.250.46
Inventory turnover0.710.650.520.520.660.98
Days sales outstanding204d181d185d172d148d132d
Days inventory outstanding512d559d707d699d549d372d
Days payable outstanding---181d255d149d
Cash conversion cycle---690d442d354d
Valuation
P / E28.8x9.9x16.8x13.1x49.3x91.3x
P / B1.8x1.1x1.7x0.7x0.9x4.1x
P / S2.9x1.3x2.3x1.3x2.4x3.7x
EV / EBITDA16.8x4.4x11.0x4.3x1.9x22.3x
Growth
Revenue growth (YoY)15.2%40.2%43.4%49.7%65.8%109.8%
Revenue CAGR (3y)32.3%44.4%52.7%73.4%51.5%78.9%
Revenue CAGR (5y)41.9%60.0%49.5%70.0%--
Gross profit growth (YoY)2.2%41.8%50.4%59.9%65.0%37.4%
Operating income growth (YoY)-27.5%57.6%62.3%52.5%80.1%20.8%
Net income growth (YoY)-9.2%34.0%97.0%4.0%101.0%-0.6%
EPS growth (YoY)-10.5%31.9%96.6%2.3%94.4%-70.0%
EPS CAGR (3y)32.4%38.4%57.5%-15.8%15.9%18.1%
EPS CAGR (5y)35.8%9.1%25.7%26.8%--
FCF growth (YoY)--10.5%-211.3%-162.5%-
FCF CAGR (5y)-63.8%----
Book value growth (YoY)61.9%17.9%13.7%-0.2%379.1%45.0%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Product / service

$901.31M total
Total 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%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

1.61
Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

2/9
Weak
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Special Industry Machinery, NEC

CompanyRevenue (last FY)Net marginROE
VLD$45.97M-155.2%-187.0%
ACLS$839.05M24.0%19.4%
DM---
CRCT$708.78M10.8%22.3%
LRCX$18.44B29.1%54.3%

Comparing ACM Research against the 5 most active filers in the same SIC group.