ACMR Chart
About

ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells capital equipment worldwide. 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; Ultra C SAPS II and Ultra C SAPS V which are a single-wafer, serial-processing tool used to remove random defects from wafer surfaces or interconnects and barrier metals as part of the chip front-end fabrication process or for recycling test wafers; and Ultra C TEBO II and Ultra C TEBO V, a single-wafer, serial-processing tool used at numerous manufacturing processing steps for cleaning of chips at process nodes of 28nm or less. In addition, it offers Ultra-C Tahoe wafer cleaning tool that delivers high cleaning performance using significantly less sulfuric acid and hydrogen peroxide than is typically consumed by conventional high-temperature single-wafer cleaning tools; and advanced packaging tools, such as coaters, developers, photoresist strippers, scrubbers, wet etchers, and copper-plating tools. Further, the company provides e Ultra fn Furnace, a dry processing tool; Ultra Pmax™ PECVD tool, for film uniformity; Ultra Track tool, a 300mm process tool that delivers air downflow, robot handling, and customizable software to address specific customer requirements; and a suite of semi-critical cleaning systems which include single wafer back side cleaning, scrubber, and auto bench cleaning tools. 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.

Fundamentals
Scroll to Statements
Sector Technology Industry Semiconductor Equipment Market Cap 4.45B
Enterprise Value 4.02B Income 117.11M Sales 880.35M
Book/sh 22.08 Cash/sh 17.41 Dividend Yield —
Payout 0.00% Employees 2023 IPO —
P/E 39.92 Forward P/E 34.22 PEG —
P/S 5.06 P/B 3.11 P/C —
EV/EBITDA 27.94 EV/Sales 4.56 Quick Ratio 2.44
Current Ratio 3.48 Debt/Eq 15.76 LT Debt/Eq —
EPS (ttm) 1.72 EPS next Y 2.01 EPS Growth 13.70%
Revenue Growth 32.00% Earnings 2026-02-26 ROA 3.57%
ROE 9.94% ROIC — Gross Margin 46.68%
Oper. Margin 10.75% Profit Margin 13.30% Shs Outstand 59.85M
Shs Float 53.10M Short Float 5.37% Short Ratio 2.00
Short Interest — 52W High 71.65 52W Low 16.82
Beta 1.48 Avg Volume 1.39M Volume 644.76K
Target Price $51.87 Recom Buy Prev Close $67.76
Price $68.66 Change 1.33%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$51.87
Mean price target
2. Current target
$68.66
Latest analyst target
3. DCF / Fair value
$-14.94
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$68.66
Low
$36.00
High
$95.20
Mean
$51.87

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-09-30 main Roth Capital Buy → Buy $50
2025-02-28 init JP Morgan — → Overweight $36
2025-02-27 reit Needham Hold → Hold —
2024-12-05 down Craig-Hallum Buy → Hold $18
2024-12-04 down Needham Buy → Hold $25
2024-10-01 reit Needham Buy → Buy $25
2024-08-08 reit Benchmark Buy → Buy $38
2024-08-08 main Roth MKM Buy → Buy $30
2024-08-08 reit Needham Buy → Buy $28
2024-08-07 reit Benchmark Buy → Buy $38
2024-05-09 reit Needham Buy → Buy $34
2024-03-06 main Benchmark Buy → Buy $38
2024-02-29 up Goldman Sachs Neutral → Buy $39
2024-02-29 main Benchmark Buy → Buy $35
2024-02-28 main Needham Buy → Buy $34
2024-01-11 main Goldman Sachs Neutral → Neutral $22
2024-01-10 main Roth MKM Buy → Buy $25
2024-01-10 main Needham Buy → Buy $24
2023-11-08 reit Benchmark Buy → Buy $32
2023-10-12 main Goldman Sachs Neutral → Neutral $18
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 31250 1091507 — Sale at price 33.50 - 35.45 per share. MCKECHNIE MARK A Chief Financial Officer — 2025-12-08 00:00:00 D
1 31250 612438 — Conversion of Exercise of derivative security at price 4.55 - 25.45 per share. MCKECHNIE MARK A Chief Financial Officer — 2025-12-08 00:00:00 D
2 130000 4361477 — Sale at price 33.05 - 34.42 per share. WANG DAVID HUI Chief Executive Officer — 2025-12-04 00:00:00 D
3 130000 130000 — Conversion of Exercise of derivative security at price 1.00 per share. WANG DAVID HUI Chief Executive Officer — 2025-12-04 00:00:00 D
4 120000 3981156 — Sale at price 33.05 - 33.57 per share. CHEN FUPING Officer — 2025-12-03 00:00:00 D
5 120000 212400 — Conversion of Exercise of derivative security at price 1.77 per share. CHEN FUPING Officer — 2025-12-03 00:00:00 D
6 30000 997950 — Sale at price 32.76 - 33.77 per share. FENG LISA YI LU Officer — 2025-11-13 00:00:00 D
7 30000 168000 — Conversion of Exercise of derivative security at price 5.60 per share. FENG LISA YI LU Officer — 2025-11-13 00:00:00 D
8 755090 — — Stock Gift at price 0.00 per share. DUN HAIPING Director — 2025-11-12 00:00:00 D
9 10000 350000 — Sale at price 35.00 per share. CHEAV SOTHEARA Officer — 2025-09-18 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems582.02K1.05M-1.68M1.88K
TaxRateForCalcs0.210.170.250.00
NormalizedEBITDA177.66M120.68M81.12M45.57M
TotalUnusualItems2.76M6.31M-6.74M607.00K
TotalUnusualItemsExcludingGoodwill2.76M6.31M-6.74M607.00K
NetIncomeFromContinuingOperationNetMinorityInterest103.63M77.35M39.26M37.76M
ReconciledDepreciation9.97M8.09M5.37M2.35M
ReconciledCostOfRevenue390.56M281.51M205.22M144.90M
EBITDA180.42M126.99M74.38M46.17M
EBIT170.45M118.90M69.02M43.82M
NetInterestIncome5.78M5.67M7.08M-260.00K
InterestExpense4.15M2.68M1.66M765.00K
InterestIncome9.94M8.35M8.74M505.00K
NormalizedIncome101.45M72.09M44.32M37.15M
NetIncomeFromContinuingAndDiscontinuedOperation103.63M77.35M39.26M37.76M
TotalExpenses631.12M461.88M329.80M221.05M
TotalOperatingIncomeAsReported151.00M95.84M59.03M38.70M
DilutedAverageShares66.24M64.87M65.34M65.36M
BasicAverageShares62.21M60.16M59.24M57.65M
DilutedEPS1.531.160.590.58
BasicEPS1.671.290.660.65
DilutedNIAvailtoComStockholders103.63M77.35M39.26M37.76M
NetIncomeCommonStockholders103.63M77.35M39.26M37.76M
NetIncome103.63M77.35M39.26M37.76M
MinorityInterests-27.64M-19.50M-11.30M-5.16M
NetIncomeIncludingNoncontrollingInterests131.27M96.85M50.56M42.92M
NetIncomeContinuousOperations131.27M96.85M50.56M42.92M
TaxProvision35.03M19.36M16.80M134.00K
PretaxIncome166.30M116.22M67.36M43.05M
OtherIncomeExpense9.52M14.70M1.24M4.61M
OtherNonOperatingIncomeExpenses6.33M-1.56M3.31M-631.00K
EarningsFromEquityInterest423.00K9.95M4.67M4.64M
GainOnSaleOfSecurity2.76M6.31M-6.74M607.00K
NetNonOperatingInterestIncomeExpense5.78M5.67M7.08M-260.00K
InterestExpenseNonOperating4.15M2.68M1.66M765.00K
InterestIncomeNonOperating9.94M8.35M8.74M505.00K
OperatingIncome151.00M95.84M59.03M38.70M
OperatingExpense240.56M180.38M124.58M76.15M
ResearchAndDevelopment105.47M92.71M62.23M34.21M
SellingGeneralAndAdministration135.08M87.67M62.35M41.95M
SellingAndMarketingExpense65.45M47.02M39.89M26.73M
GeneralAndAdministrativeExpense69.64M40.65M22.46M15.21M
OtherGandA69.64M40.65M22.46M15.21M
GrossProfit391.55M276.21M183.62M114.86M
CostOfRevenue390.56M281.51M205.22M144.90M
TotalRevenue782.12M557.72M388.83M259.75M
OperatingRevenue782.12M557.72M388.83M259.75M
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber62.96M61.06M59.68M58.70M
ShareIssued62.96M61.06M59.68M58.70M
TotalDebt188.78M99.10M79.50M39.14M
TangibleBookValue901.16M764.85M664.91M665.29M
InvestedCapital1.09B859.46M751.87M711.16M
WorkingCapital842.15M675.45M567.59M747.00M
NetTangibleAssets901.16M764.85M664.91M665.29M
CapitalLeaseObligations5.97M7.03M2.49M4.18M
CommonStockEquity904.62M767.39M674.86M676.20M
TotalCapitalization1.01B821.34M693.54M699.16M
TotalEquityGrossMinorityInterest1.10B926.16M812.17M811.66M
MinorityInterest191.28M158.77M137.31M135.46M
StockholdersEquity904.62M767.39M674.86M676.20M
GainsLossesNotAffectingRetainedEarnings-32.86M-19.29M-23.66M17.42M
OtherEquityAdjustments-32.86M-19.29M-23.66M17.42M
RetainedEarnings260.00M156.83M94.43M63.73M
AdditionalPaidInCapital677.48M629.85M604.09M595.04M
CapitalStock7.00K7.00K6.00K6.00K
CommonStock7.00K7.00K6.00K6.00K
TotalLiabilitiesNetMinorityInterest759.82M564.75M423.33M240.51M
TotalNonCurrentLiabilitiesNetMinorityInterest118.58M64.09M27.11M34.58M
OtherNonCurrentLiabilities1.17M1.30M1.66M684.00K
NonCurrentDeferredLiabilities8.05M4.57M5.66M9.06M
NonCurrentDeferredRevenue8.05M4.57M5.66M7.76M
NonCurrentDeferredTaxesLiabilities0.001.30M
LongTermDebtAndCapitalLeaseObligation109.36M58.21M19.79M24.83M
LongTermCapitalLeaseObligation3.84M4.26M1.11M1.87M
LongTermDebt105.53M53.95M18.69M22.96M
CurrentLiabilities641.23M500.66M396.21M205.94M
CurrentDeferredLiabilities252.49M185.06M157.95M56.00M
CurrentDeferredRevenue252.49M185.06M157.95M56.00M
CurrentDebtAndCapitalLeaseObligation79.42M40.88M59.71M14.31M
CurrentCapitalLeaseObligation2.13M2.76M1.38M2.31M
CurrentDebt77.29M38.12M58.33M12.00M
OtherCurrentBorrowings44.47M6.78M2.32M2.41M
LineOfCredit32.81M31.34M56.00M9.59M
PayablesAndAccruedExpenses309.33M274.72M178.56M135.62M
CurrentAccruedExpenses93.49M82.44M44.42M25.76M
Payables215.84M192.28M134.14M109.86M
OtherPayable35.66M20.50M14.46M8.26M
DuetoRelatedPartiesCurrent16.13M11.41M14.47M7.90M
TotalTaxPayable24.75M18.56M3.47M254.00K
IncomeTaxPayable24.75M18.56M3.47M254.00K
AccountsPayable139.29M141.81M101.73M93.45M
TotalAssets1.86B1.49B1.24B1.05B
TotalNonCurrentAssets372.34M314.80M271.69M99.25M
OtherNonCurrentAssets2.05M1.14M1.21M1.26M
NonCurrentPrepaidAssets686.00K696.00K708.00K
NonCurrentDeferredAssets14.78M20.27M6.70M13.17M
NonCurrentDeferredTaxesAssets14.78M20.27M6.70M13.17M
InvestmentsAndAdvances50.34M68.70M119.42M12.69M
OtherInvestments17.46M12.69M
InvestmentinFinancialAssets13.28M40.82M101.96M0.00
AvailableForSaleSecurities13.28M40.82M101.96M
LongTermEquityInvestment37.06M27.88M17.46M
GoodwillAndOtherIntangibleAssets3.46M2.54M9.95M10.92M
OtherIntangibleAssets3.46M2.54M9.95M10.92M
NetPPE301.03M221.46M133.71M61.20M
AccumulatedDepreciation-24.88M-17.50M-10.05M-5.90M
GrossPPE325.91M238.96M143.76M67.10M
Leases11.58M7.89M7.17M4.13M
ConstructionInProgress115.64M110.65M84.84M48.59M
OtherProperties51.08M31.95M11.79M12.15M
MachineryFurnitureEquipment6.21M5.36M4.10M2.23M
BuildingsAndImprovements141.41M83.11M35.86M0.00
Properties0.000.000.000.00
CurrentAssets1.48B1.18B963.81M952.93M
RestrictedCash3.87M1.08M500.00K519.00K
PrepaidAssets8.53M22.45M18.93M16.64M
Inventory597.98M545.39M393.17M218.12M
FinishedGoods293.13M228.90M146.91M91.72M
WorkInProcess80.77M81.44M79.13M35.84M
RawMaterials224.09M235.06M167.13M90.55M
Receivables428.90M323.25M212.55M125.61M
OtherReceivables41.86M40.06M29.62M18.98M
TaxesReceivable0.001.08M
AccountsReceivable387.05M283.19M182.94M105.55M
AllowanceForDoubtfulAccountsReceivable-18.35M-4.83M0.000.00
GrossAccountsReceivable405.39M288.02M182.94M105.55M
CashCashEquivalentsAndShortTermInvestments444.10M283.93M338.65M592.05M
OtherShortTermInvestments36.65M101.84M90.70M29.50M
CashAndCashEquivalents407.44M182.09M247.95M562.55M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow66.50M-139.66M-154.71M-49.80M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-41.88M-57.35M-11.45M-41.94M
IssuanceOfDebt130.16M73.69M56.00M29.94M
IssuanceOfCapitalStock0.00
CapitalExpenditure-85.95M-64.34M-92.52M-9.71M
InterestPaidSupplementalData4.15M2.68M1.66M765.00K
IncomeTaxPaidSupplementalData11.22M26.10M3.59M1.13M
EndCashPosition411.31M183.17M248.45M563.07M
BeginningCashPosition183.17M248.45M563.07M71.77M
EffectOfExchangeRateChanges-4.83M-1.74M-32.62M3.91M
ChangesInCash232.97M-63.54M-281.99M487.39M
FinancingCashFlow92.48M18.53M45.87M538.77M
CashFlowFromContinuingFinancingActivities92.48M18.53M45.87M538.77M
NetOtherFinancingCharges545.51M
ProceedsFromStockOptionExercised11.10M6.14M1.31M5.25M
CashDividendsPaid-6.90M-3.95M0.000.00
CommonStockDividendPaid-6.90M-3.95M0.000.00
NetCommonStockIssuance0.00
CommonStockPayments0.00
CommonStockIssuance0.00
NetIssuancePaymentsOfDebt88.28M16.34M44.56M-12.00M
NetShortTermDebtIssuance968.00K-23.73M46.78M-16.93M
ShortTermDebtPayments-32.30M-55.07M-9.22M-39.81M
ShortTermDebtIssuance33.27M31.33M56.00M22.88M
NetLongTermDebtIssuance87.31M40.08M-2.22M4.93M
LongTermDebtPayments-9.58M-2.28M-2.22M-2.13M
LongTermDebtIssuance96.90M42.36M0.007.06M
InvestingCashFlow-11.96M-6.75M-265.67M-11.28M
CashFlowFromContinuingInvestingActivities-11.96M-6.75M-265.67M-11.28M
NetOtherInvestingChanges-172.45M
DividendsReceivedCFI0.000.00
NetInvestmentPurchaseAndSale73.99M57.59M-173.15M-1.57M
SaleOfInvestment174.98M109.58M4.58M0.00
PurchaseOfInvestment-100.99M-51.98M-177.73M-1.57M
NetBusinessPurchaseAndSale-1.00M-1.57M
PurchaseOfBusiness-1.00M-1.57M
NetIntangiblesPurchaseAndSale-3.48M-2.46M-1.43M-559.00K
PurchaseOfIntangibles-3.48M-2.46M-1.43M-559.00K
NetPPEPurchaseAndSale-82.46M-61.88M-91.09M-9.15M
PurchaseOfPPE-82.46M-61.88M-91.09M-9.15M
OperatingCashFlow152.45M-75.32M-62.19M-40.09M
CashFlowFromContinuingOperatingActivities152.45M-75.32M-62.19M-40.09M
ChangeInWorkingCapital-63.07M-184.59M-137.01M-85.93M
ChangeInOtherWorkingCapital71.90M32.67M105.25M35.06M
ChangeInOtherCurrentLiabilities-170.00K-5.21M-5.18M-2.14M
ChangeInOtherCurrentAssets0.000.003.99M-4.52M
ChangeInPayablesAndAccruedExpense43.11M69.13M55.12M81.14M
ChangeInPayable43.11M69.13M55.12M81.14M
ChangeInAccountPayable6.17M39.28M24.07M65.21M
ChangeInTaxPayable6.42M3.01M3.24M2.20M
ChangeInIncomeTaxPayable6.42M3.01M3.24M2.20M
ChangeInPrepaidAssets13.32M-4.18M-4.63M-10.61M
ChangeInInventory-64.14M-164.03M-195.56M-127.73M
ChangeInReceivables-127.09M-112.96M-95.99M-57.13M
ChangesInAccountReceivables-123.28M-108.75M-88.66M-47.62M
OtherNonCashItems3.81M3.58M2.82M2.45M
StockBasedCompensation49.58M27.34M7.73M5.12M
UnrealizedGainLossOnInvestmentSecurities-973.00K2.74M7.86M-607.00K
ProvisionandWriteOffofAssets16.31M3.32M2.25M75.00K
DeferredTax5.29M-13.65M4.03M-1.84M
DeferredIncomeTax5.29M-13.65M4.03M-1.84M
DepreciationAmortizationDepletion9.97M8.09M5.37M2.35M
DepreciationAndAmortization9.97M8.09M5.37M2.35M
OperatingGainsLosses263.00K-19.00M-5.79M-4.64M
EarningsLossesFromEquityInvestments-423.00K-9.95M-4.67M-4.64M
GainLossOnInvestmentSecurities-259.00K-9.05M-1.12M
GainLossOnSaleOfPPE945.00K-2.00K-12.00K0.00
NetIncomeFromContinuingOperations131.27M96.85M50.56M42.92M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for ACMR
Date User Asset Broker Type Position Size Entry Price Patterns