ACM Research, Inc. (ACMR)
ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells capital equipment in Mainland China and internationally. It also develops, manufactures, and sells a range of packaging tools to wafer assembly and packaging customers. The company provides wet cleaning equipment for front end production processes; electrochemical plating, furnace, PECVD, and track platforms; Space Alternated Phase Shift, technology for flat and wafer surfaces; timely energized bubble oscillation, technology for patterned wafer surfaces at advanced process nodes; and Tahoe technology; and semi-critical cleaning tools. It also offers advanced packaging equipment, such as coaters, developers, photoresist strippers, scrubbers, wet etchers and copper-plating equipment; and advanced packaging products include: Ultra ECP ap, which delivers a uniform metal layer to finished wafers prior to packaging; Ultra C Developer, which applies liquid developer to selected parts of photoresist to resolve an image; Ultra C PR Megasonic-Assisted Stripper, which removes photoresist; Ultra C Scrubber, which scrubs and cleans wafers; Ultra C Thin Wafer Scrubber, which addresses a sub-market of cleaning very thin wafers for certain Asian assembly factories; and Ultra C Wet Etcher, which etches silicon wafers and copper and titanium interconnects. In addition, the company provides ECP technology for advanced metal plating; Ultra fn Furnace, a dry processing tool; Ultra Pmax PECVD tools, a proprietary designed chamber, gas distribution unit, and chuck; and Ultra Track, a 300mm process tool that delivers uniform air downflow, fast robot handling and configurable software to address specific customer requirements. It markets and sells its products under the SAPS, TEBO, ULTRA C, ULTRA Fn, Ultra ECP, Ultra ECP map, and Ultra ECP ap trademarks through direct sales force and third-party representatives. ACM Research, Inc. was incorporated in 1998 and is headquartered in Fremont, California.
- Symbol
- ACMR
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Semiconductor Equipment & Materials
- Market cap
- $5.48B
- 52 week range
- 28.46 - 127.19
Valuation
- Share price
- $80.67 (close of 2026-09-23)
- P/E (TTM)
- 35.85x
- Price to book
- 2.28x
- Price to free cash flow
- -46.12x
- Enterprise value
- $4.75B
- Book value per share
- $35.43
Price performance
| Period | Change |
|---|
| 1 day | +10.86% |
| 5 days | +26.17% |
| 1 month | +1.59% |
| 3 months | -18.61% |
| 6 months | +79.95% |
| Year to date | +104.49% |
| 1 year | +106.90% |
| 3 years | +415.14% |
| 5 years | +130.48% |
| All time | +4213.90% |
Profitability and growth
- Return on equity
- 4.87%
- Return on invested capital
- 6.70%
- Return on assets
- 3.28%
- Return on capital employed
- 5.15%
- Gross margin
- 44.39%
- Net margin
- 10.44%
- EBITDA margin
- 13.95%
- Revenue growth
- 15.24%
- Net income growth
- -9.21%
- Free cash flow growth
- -195.17%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -2.17%
- Current ratio
- 3.66x
- Net debt to EBITDA
- -2.74x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $901.31M
- Cost of revenue
- $501.24M
- Gross profit
- $400.07M
- EBITDA
- $125.76M
- Net income
- $94.08M
- Earnings per share
- $1.47
- Research and development
- $144.99M
- Shares outstanding
- 64.18M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $901.31M | $400.07M | $94.08M | $1.47 |
| 2024-12-31 | $782.12M | $391.55M | $103.63M | $1.67 |
| 2023-12-31 | $557.72M | $276.21M | $77.35M | $1.29 |
| 2022-12-31 | $388.83M | $183.62M | $39.26M | $0.66 |
| 2021-12-31 | $259.75M | $114.86M | $37.76M | $0.65 |
| 2020-12-31 | $156.62M | $69.60M | $18.78M | $0.34 |
| 2019-12-31 | $107.52M | $50.65M | $18.89M | $0.37 |
| 2018-12-31 | $74.64M | $34.45M | $6.57M | $0.14 |
| 2017-12-31 | $36.51M | $17.23M | $-318.00K | $-0.02 |
| 2016-12-31 | $27.37M | $13.33M | $1.03M | $0.10 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 44.39% | 10.44% | 4.87% | 6.70% |
| 2024-12-31 | 50.06% | 13.25% | 9.46% | 13.52% |
| 2023-12-31 | 49.53% | 13.87% | 8.35% | 9.31% |
| 2022-12-31 | 47.22% | 10.10% | 4.83% | 6.77% |
| 2021-12-31 | 44.22% | 14.54% | 4.65% | 13.84% |
| 2020-12-31 | 44.44% | 11.99% | 9.02% | 13.41% |
| 2019-12-31 | 47.11% | 17.57% | 19.41% | 41.43% |
| 2018-12-31 | 46.15% | 8.81% | 12.56% | 16.35% |
| 2017-12-31 | 47.18% | -0.87% | -0.80% | 1.28% |
| 2016-12-31 | 48.70% | 3.77% | 41.49% | - |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $792.90M | $178.93M |
| 2024-12-31 | $426.82M | $105.53M |
| 2023-12-31 | $203.40M | $53.95M |
| 2022-12-31 | $268.16M | $18.69M |
| 2021-12-31 | $562.55M | $22.96M |
| 2020-12-31 | $71.77M | $17.98M |
| 2019-12-31 | $58.26M | - |
| 2018-12-31 | $27.12M | - |
| 2017-12-31 | $17.68M | - |
| 2016-12-31 | $10.12M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $-66.61M | $33.58M |
| 2024-12-31 | $69.99M | $49.58M |
| 2023-12-31 | $-137.20M | $27.34M |
| 2022-12-31 | $-153.29M | $7.73M |
| 2021-12-31 | $-49.25M | $5.12M |
| 2020-12-31 | $-18.76M | $5.63M |
| 2019-12-31 | $8.43M | $3.57M |
| 2018-12-31 | $5.08M | $3.36M |
| 2017-12-31 | $-8.75M | $1.62M |
| 2016-12-31 | $-4.50M | $383.00K |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-04
- Consensus EPS estimate
- $0.41
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-07 | Jun/2026 | $0.21 |
| 2026-05-07 | - | - |
| 2026-02-26 | - | - |
| 2025-11-05 | - | - |
| 2025-08-06 | - | - |
| 2025-05-08 | - | - |
| 2025-02-26 | - | - |
| 2024-11-07 | - | - |
Filings and sources
- Company website
- acmr.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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