ACM Research, Inc. ACMR

Industrials SIC 3559 - Special Industry Machinery, NEC NAICS Manufacturing › Machinery Manufacturing › Industrial Machinery Manufacturing › Semiconductor Machinery Manufacturing derived Nasdaq

We supply advanced, innovative capital equipment developed for the global semiconductor industry.

Our products are designed to address yield-critical and performance-sensitive process steps that become increasingly difficult as semiconductor devices scale to smaller geometries and more complex structures. We focus on developing differentiated process solutions that enable effective particle removal, uniform material deposition, and reliable process control, while helping customers manage cost of ownership, throughput, and environmental considerations. We believe this approach has supported broader adoption of our tools across multiple technology nodes and device types.

Fabricators of advanced integrated circuits, or chips, can use our wet-cleaning, plating, furnace, PECVD, track, and other front-end processing equipment in numerous steps to improve product yield, even at increasingly advanced process nodes. We have designed these products for use in fabricating foundry, logic and memory chips, including dynamic random-access memory, or DRAM, and 3D NAND-flash memory chips. We also develop, manufacture and sell a range of advanced packaging equipment to wafer assembly and packaging customers.

Last close 50.55 2026-10-23
Market cap $3.43B estimated share count
52-week range 28.46 - 127.19

Valuation FY2025 figures against the last close

P/S3.8x
P/E36.9x
P/FCF—
EV/EBITDA23.0x
Dividend yield—
Diluted EPS1.37

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $901.3M$782.1M$557.7M$388.8M$259.8M$156.6M$107.5M$74.6M$36.5M$27.4M
Cost of revenue $501.2M$390.6M$281.5M$205.2M$144.9M$87.0M$56.9M$40.2M$19.3M$14.0M
Gross profit $400.1M$391.6M$276.2M$183.6M$114.9M$69.6M$50.7M$34.4M$17.2M$13.3M
R&D $145.0M$105.5M$92.7M$62.2M$34.2M$19.1M$12.9M$10.4M$5.1M$3.3M
SG&A $68.8M$69.6M$40.6M$22.5M$15.2M$12.2M$8.1M$8.0M$5.9M$2.7M
Total operating expenses $290.6M$240.6M$180.4M$124.6M$76.2M$48.1M$32.9M$28.0M$16.5M$9.8M
Operating income $109.4M$151.0M$95.8M$59.0M$38.7M$21.5M$17.8M$6.5M$700.0K$3.5M
Interest expense $7.0M$4.2M$2.7M$1.7M$765.0K$982.0K$745.0K$498.0K$277.0K$181.0K
Pre-tax income $135.2M$166.3M$116.2M$67.4M$43.1M$19.3M$18.9M$7.4M-$325.0K$3.0M
Income tax $13.3M$35.0M$19.4M$16.8M$134.0K$2.4M$518.0K$806.0K$547.0K$595.0K
Net income $94.1M$103.6M$77.3M$39.3M$37.8M$18.8M$18.9M$6.6M-$318.0K$1.0M
EPS, basic 1.471.671.290.660.650.341.120.42-0.050.30
EPS, diluted 1.371.531.160.590.580.300.990.37-0.050.18
Shares, diluted (wtd. avg.) 67.3M66.2M64.9M65.3M65.4M63.6M19.1M17.9M6.9M3.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $757.4M$407.4M$182.1M$248.5M$563.1M$71.8M$117.9M$27.1M$17.7M$10.1M
Short-term investments $35.5M$19.4M$21.3M$20.2M$29.5M$28.2M$0———
Receivables $504.2M$387.0M$283.2M$182.9M$105.6M$56.4M$31.1M$24.6M$26.8M$16.0M
Inventory $702.6M$598.0M$545.4M$393.2M$218.1M$88.6M$44.8M$38.8M$15.4M$11.7M
Total current assets $2.44B$1.48B$1.18B$963.8M$952.9M$260.7M$198.4M$96.0M$62.9M$40.3M
Property, plant and equipment $314.8M$269.3M$201.8M$82.9M$14.0M$8.2M$3.6M$3.7M$2.3M$2.3M
Other intangibles $2.8M$3.5M$2.5M$1.3M$477.0K$554.0K$344.0K$274.0K$106.0K$17.0K
Total assets $2.87B$1.86B$1.49B$1.24B$1.05B$341.3M$217.7M$103.0M$67.9M$44.5M
Accounts payable ———$101.7M$93.5M$35.6M$13.3M$16.7M$7.4M$5.2M
Short-term debt $35.1M$44.5M$6.8M$2.3M$2.4M$1.6M$0$9.4M$5.1M$4.8M
Total current liabilities $745.7M$641.2M$500.7M$396.2M$205.9M$102.9M$53.5M$46.1M$21.8M$17.1M
Long-term debt $178.9M$105.5M$54.0M$18.7M$23.0M$18.0M$0———
Total liabilities $941.7M$759.8M$564.7M$423.3M$240.5M$133.1M$60.2M$50.7M$28.0M$23.9M
Retained earnings $350.4M$260.0M$156.8M$94.4M$63.7M$34.3M$15.5M-$3.4M-$10.0M-$9.6M
Total equity $1.46B$904.6M$926.2M$812.2M$811.7M$208.2M$97.3M$52.3M$39.9M$2.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$10.3M$152.4M-$75.3M-$62.2M-$40.1M-$13.5M$9.4M$6.9M-$8.1M-$3.7M
Depreciation and amortisation $14.4M$6.6M$6.9M$4.8M$2.1M$826.0K$713.0K$350.0K$243.0K$180.0K
Stock-based compensation $33.6M$49.6M$27.3M$7.7M$5.1M$5.6M$3.6M$3.4M$1.6M$383.0K
Capital expenditure $56.3M$82.5M$61.9M$91.1M$9.2M$5.2M$971.0K$1.8M$651.0K$795.0K
Investing cash flow -$390.3M-$12.0M-$6.7M-$265.7M-$11.3M-$70.0M-$5.5M-$2.1M-$23.7M-$810.0K
Financing cash flow $742.5M$92.5M$18.5M$45.9M$538.8M$32.8M$87.4M$5.1M$38.7M$10.6M
Buybacks ————$0$0$2.8M$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-013231.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M 1B Revenue, FY2016: 27.4M Gross profit, FY2016: 13.3M Net income, FY2016: 1M Revenue, FY2017: 36.5M Gross profit, FY2017: 17.2M Net income, FY2017: -318K Revenue, FY2018: 74.6M Gross profit, FY2018: 34.4M Net income, FY2018: 6.6M Revenue, FY2019: 107.5M Gross profit, FY2019: 50.7M Net income, FY2019: 18.9M Revenue, FY2020: 156.6M Gross profit, FY2020: 69.6M Net income, FY2020: 18.8M Revenue, FY2021: 259.8M Gross profit, FY2021: 114.9M Net income, FY2021: 37.8M Revenue, FY2022: 388.8M Gross profit, FY2022: 183.6M Net income, FY2022: 39.3M Revenue, FY2023: 557.7M Gross profit, FY2023: 276.2M Net income, FY2023: 77.3M Revenue, FY2024: 782.1M Gross profit, FY2024: 391.6M Net income, FY2024: 103.6M Revenue, FY2025: 901.3M Gross profit, FY2025: 400.1M Net income, FY2025: 94.1M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $27.4M $36.5M $74.6M $107.5M $156.6M $259.8M $388.8M $557.7M $782.1M $901.3M
Gross profit $13.3M $17.2M $34.4M $50.7M $69.6M $114.9M $183.6M $276.2M $391.6M $400.1M
Net income $1.0M -$318.0K $6.6M $18.9M $18.8M $37.8M $39.3M $77.3M $103.6M $94.1M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Other event Item 8.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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