ACM Research, Inc. (ACMR)
ACM Research, Inc., along with its affiliated companies, is a global developer, manufacturer, and provider of specialized single-wafer wet cleaning systems. These crucial systems are designed to enhance manufacturing processes and improve the yield of integrated circuits across the globe. The company's innovative technological offerings include: Space Alternated Phase Shift (SAPS) technology: This system uniformly applies megasonic energy at a microscopic scale to both flat and patterned wafer surfaces by utilizing alternating phases of megasonic waves. Timely Energized Bubble Oscillation (TEBO) technology: Specifically engineered for patterned wafer surfaces at advanced process nodes, this technology precisely cleans intricate 2D and 3D patterned wafers. Tahoe technology: Providing superior cleaning performance, this solution significantly reduces the consumption of sulfuric acid and hydrogen peroxide. Electro-chemical plating technology: This offering facilitates advanced metal plating processes. ACM Research markets and sells its product line, branded as Ultra C, through a combination of its own direct sales force and independent third-party representatives. Established in 1998, ACM Research, Inc. is headquartered in Fremont, California.
Sector: Special Industry Machinery, NEC
Industry: Semiconductors
ACM Research, Inc.
NASDAQ:ACMRTechnology · Semiconductors
PrePre-market-1.52%$43.93
Close$44.61-0.25%AH$44.50-1.28%Now$43.93
Close$44.61+13.48%AH$44.50-1.28%since
Mkt Cap$3.11B
Float58.36M
O/S69.65M
PM VOL9K sh
$ Vol≈$374K
RVOL0.84×
Inst Own69.8%
SI6.0%
Dilution
Financials Summary
Revenue$901.31M
Net Income$94.08M
Total Assets$2.87B
Free Cash Flow-$66.61M
Debt & Equity
Debt 17%
Equity 83%
Total Debt$302.98M
Total Equity$1.46B
Shares Outstanding
Short Interest
Split History1 split
- 3:1Forward splitMar 24, 20221 share → 3
Balance Sheet Details
Assets$2.87B
Liabilities$941.68M
Accounts Receivable$552.9M
Accounts Payable$247.5M
Inventory$702.63M
PP&E (Net)$332.75M
Goodwill$0
Intangible Assets$2.85M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $901.31M | $782.12M | $557.72M | $388.83M | $259.75M | $156.62M | $107.52M | $74.64M | $36.51M | $27.37M | $31.21M |
| YoY Growth | 15.2% | 40.2% | 43.4% | 49.7% | 65.8% | 45.7% | 44.1% | 104.5% | 33.4% | -12.3% | - |
| Cost of Revenue | $501.24M | $390.56M | $281.51M | $205.22M | $144.9M | $87.03M | $56.87M | $40.19M | $19.28M | $14.04M | $17.09M |
| Gross Profit | $400.07M | $391.55M | $276.21M | $183.62M | $114.86M | $69.6M | $50.65M | $34.45M | $17.23M | $13.33M | $14.12M |
| Gross Margin | 44.4% | 50.1% | 49.5% | 47.2% | 44.2% | 44.4% | 47.1% | 46.2% | 47.2% | 48.7% | 45.3% |
| Research and Development | $144.99M | $105.47M | $92.71M | $62.23M | $34.21M | $19.12M | $12.9M | $10.38M | $5.14M | $3.26M | $2.94M |
| Selling, General, and Administrative | $145.65M | $135.08M | $87.67M | $62.35M | $41.95M | $28.99M | $19.96M | $17.6M | $11.39M | $6.58M | $6.32M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $290.64M | $240.56M | $180.38M | $124.58M | $76.15M | $48.11M | $32.86M | $27.98M | $16.52M | $9.84M | $9.26M |
| Operating Income (EBIT) | $109.43M | $151M | $95.84M | $59.03M | $38.7M | $21.49M | $17.79M | $6.47M | $700K | $3.49M | $4.86M |
| Operating Margin | 12.1% | 19.3% | 17.2% | 15.2% | 14.9% | 13.7% | 16.5% | 8.7% | 1.9% | 12.8% | 15.6% |
| Interest Expense | $6.96M | $4.15M | $2.68M | $1.66M | $765K | $982K | $745K | $498K | $277K | $181K | $122K |
| Interest Income | $14.64M | $9.94M | $8.35M | $8.74M | $505K | $897K | $333K | $29K | $9K | $16K | $17K |
| Other Income (Expense) | $25.76M | $15.3M | $20.38M | $8.33M | $4.35M | -$2.2M | $1.15M | $909K | -$1.02M | -$508K | $527K |
| Income Before Tax (EBT) | $135.19M | $166.3M | $116.22M | $67.36M | $43.05M | $19.3M | $18.94M | $7.38M | -$323K | $2.98M | $5.39M |
| Income Tax Expense | $13.3M | $35.03M | $19.36M | $16.8M | $134K | -$2.38M | -$518K | $806K | $547K | $595K | -$2.52M |
| Net Income | $94.08M | $103.63M | $77.35M | $39.26M | $37.76M | $18.78M | $18.89M | $6.57M | -$316K | $1.03M | $5.38M |
| Net Income Margin | 10.4% | 13.2% | 13.9% | 10.1% | 14.5% | 12.0% | 17.6% | 8.8% | -0.9% | 3.8% | 17.2% |
| Supplementary Data | |||||||||||
| EPS | 1.47 | 1.67 | 1.29 | 0.66 | 0.65 | 0.34 | 0.37 | 0.12 | -0.02 | 0.04 | 0.68 |
| Diluted EPS | 1.37 | 1.53 | 1.16 | 0.59 | 0.58 | 0.30 | 0.33 | 0.12 | -0.01 | 0.04 | 0.68 |
| Weighted Average OS | 64.18M | 62.21M | 60.16M | 59.24M | 57.65M | 54.70M | 50.40M | 53.32M | 20.60M | 23.67M | 7.93M |
| EBITDA | $158.47M | $180.42M | $126.99M | $74.38M | $46.17M | $21.33M | $18.58M | $6.89M | $223K | $3.35M | $5.67M |
| EBITDA Margin | 17.6% | 23.1% | 22.8% | 19.1% | 17.8% | 13.6% | 17.3% | 9.2% | 0.6% | 12.2% | 18.2% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $765.96M | $407.44M | $182.09M | $247.95M | $562.55M | $71.77M | $58.26M | $27.12M | $17.68M | $10.12M | $4.4M |
| Short-Term Investments | $402.12M | $36.65M | $101.84M | $90.7M | $29.5M | $28.24M | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.17B | $444.1M | $283.93M | $338.65M | $592.05M | $100M | $58.26M | $27.12M | $17.68M | $10.12M | $4.4M |
| Accounts Receivable | $552.9M | $428.9M | $325.68M | $212.55M | $125.61M | $66.12M | $33.69M | $28.16M | $29.25M | $17.79M | $13.29M |
| Inventory | $702.63M | $597.98M | $545.39M | $393.17M | $218.12M | $88.64M | $44.8M | $38.76M | $15.39M | $11.67M | $9.15M |
| Other Current Assets | $2.5M | $3.87M | $1.08M | $500K | $519K | $0 | $59.6M | $0 | $46K | $53K | $7K |
| Total Current Assets | $2.44B | $1.48B | $1.18B | $963.81M | $952.93M | $260.66M | $198.4M | $96.03M | $62.91M | $40.35M | $27.95M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $332.75M | $283.31M | $208.87M | $85.36M | $61.2M | $12.49M | $7.51M | $3.71M | $2.34M | $2.26M | $1.77M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $2.85M | $3.46M | $2.54M | $9.95M | $10.92M | $10.2M | $344K | $274K | $106K | $17K | $1K |
| Long-Term Investments | $66.03M | $50.34M | $68.7M | $119.42M | $12.69M | $6.34M | $5.93M | $1.36M | $1.24M | -$1.84M | -$2.43M |
| Deferred Tax Assets | $29.39M | $14.78M | $20.27M | $6.7M | $13.17M | $11.08M | $5.33M | $1.64M | $1.29M | $1.84M | $2.43M |
| Other Long-Term Assets | $4.48M | $20.45M | $14.42M | $50.27M | $1.26M | $40.5M | $192K | $40K | $0 | $1.84M | $2.43M |
| Total Long-Term Assets | $435.5M | $372.34M | $314.8M | $271.69M | $99.25M | $80.6M | $19.31M | $7.02M | $4.98M | $4.12M | $4.2M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.87B | $1.86B | $1.49B | $1.24B | $1.05B | $341.26M | $217.7M | $103.05M | $67.89M | $44.47M | $32.15M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $247.5M | $139.29M | $153.22M | $101.73M | $93.45M | $35.6M | $13.26M | $16.67M | $7.42M | $4.67M | $2.09M |
| Short-Term Debt | $113.91M | $77.29M | $38.12M | $58.33M | $12M | $27.74M | $13.75M | $9.45M | $5.11M | $4.77M | $9.69M |
| Current Income Tax Payable | $0 | $12.78M | $6.4M | $3.47M | $254K | $31K | $3.13M | $1.19M | $44K | $44K | $44K |
| Current Unearned Revenue | $205.2M | $252.49M | $185.06M | $157.95M | $56M | $19.23M | $9.13M | $8.42M | $143K | $215K | $4.63M |
| Other Current Liabilities | $178.12M | $0 | $100.26M | $61.15M | $0 | $15.82M | $0 | $1.95M | $7.46M | $3.49M | $439K |
| Total Current Liabilities | $745.71M | $641.23M | $500.66M | $396.21M | $205.94M | $102.91M | $53.5M | $46.14M | $21.82M | $17.07M | $20.57M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $184M | $105.53M | $53.95M | $18.69M | $22.96M | $17.98M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $8.05M | $4.57M | $5.66M | $7.76M | $0 | $1.25M | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $1.3M | $1.29M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $6.9M | $1.17M | $1.3M | $1.66M | $684K | $8.03M | $63.1M | $4.58M | $6.22M | $24.91M | $16.06M |
| Total Long-Term Liabilities | $195.96M | $118.58M | $64.09M | $27.11M | $34.58M | $30.18M | $66.88M | $4.58M | $6.22M | $24.91M | $16.06M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $941.68M | $759.82M | $564.75M | $423.33M | $240.51M | $133.09M | $120.38M | $50.72M | $28.03M | $41.98M | $36.63M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.03M | $8.88M |
| Common Stock | $7K | $7K | $7K | $6K | $6K | $2K | $2K | $1K | $1K | $2K | $280K |
| Retained Earnings | $350.43M | $260M | $156.83M | $94.43M | $63.73M | $34.29M | $15.51M | -$3.39M | -$9.96M | -$9.64M | -$10.68M |
| Comprehensive Income & Other | -$1.58M | -$32.86M | -$19.29M | -$23.66M | $17.42M | $4.86M | -$1.68M | -$857K | $122K | -$413K | -$84K |
| Other Stockholders' Equity | $1.11B | $644.62M | $610.56M | $580.42M | $612.47M | $106.86M | $81.81M | $55.71M | $49.82M | $7.21M | $2.16M |
| Total Equity | $1.46B | $904.63M | $767.39M | $674.86M | $676.2M | $141.15M | $97.32M | $52.32M | $39.86M | -$2.43M | -$8.24M |
| Minority Interest | $466.15M | $191.28M | $158.77M | $137.31M | $135.46M | $67.02M | $0 | $0 | $0 | $4.92M | $3.76M |
| Total Liabilities and Equity | $2.41B | $1.66B | $1.33B | $1.1B | $916.72M | $274.24M | $217.7M | $103.05M | $67.89M | $39.55M | $28.39M |
| Supplementary Data | |||||||||||
| Total Debt | $302.98M | $188.78M | $99.1M | $79.5M | $39.14M | $50.01M | $17.64M | $9.45M | $5.11M | $4.77M | $9.69M |
| Net Debt | -$462.99M | -$218.66M | -$82.99M | -$168.45M | -$523.41M | -$21.75M | -$40.62M | -$17.68M | -$12.57M | -$5.35M | $5.29M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | |||||||||||
| Net Income | $94.08M | $131.27M | $77.35M | $50.56M | $42.92M | $21.68M | $19.46M | $6.57M | -$872K | $2.39M | $7.92M |
| Depreciation & Amortization | $16.33M | $9.97M | $8.09M | $5.37M | $2.35M | $1.05M | $788K | $417K | $271K | $187K | $160K |
| Deferred Income Tax | -$14.38M | $5.29M | -$13.65M | $4.03M | -$1.84M | -$4.08M | -$3.72M | -$405K | $659K | $436K | -$2.43M |
| Stock-Based Compensation | $33.58M | $49.58M | $27.34M | $7.73M | $5.12M | $5.63M | $3.57M | $3.36M | $1.62M | $383K | $423K |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$119.35M | -$123.28M | -$112.07M | -$96.92M | -$57.13M | -$28.97M | -$6.96M | $883K | -$9.76M | -$4.72M | -$7.43M |
| Inventory | -$108.22M | -$64.14M | -$164.03M | -$193.31M | -$127.66M | -$40.77M | -$6.66M | -$24.08M | -$3.07M | -$3.06M | -$2.1M |
| Accounts Payable | $67.85M | $4.73M | $42.34M | $17.5M | $65.21M | $21.27M | -$3.06M | $9.82M | $1.91M | $3.18M | -$2.62M |
| Other Working Capital | -$18.11M | $119.62M | $49.17M | $140.8M | $36.17M | $11.88M | $5.86M | $10.46M | $1.18M | -$4.1M | $8.78M |
| Total Working Capital Change | -$177.83M | -$63.07M | -$184.59M | -$131.94M | -$83.4M | -$36.58M | -$10.82M | -$2.92M | -$9.74M | -$8.71M | -$3.36M |
| Other Non-Cash Items | $37.89M | $19.42M | $10.13M | $2.06M | -$5.24M | -$1.24M | $126K | -$123K | -$36K | $1.61M | $15.06M |
| Net Cash from Operating | -$10.32M | $152.45M | -$75.32M | -$62.19M | -$40.09M | -$13.55M | $9.4M | $6.91M | -$8.1M | -$3.7M | $2.7M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$56.28M | -$82.46M | -$61.88M | -$91.09M | -$9.15M | -$45.42M | -$1.13M | -$2.07M | -$766K | -$817K | -$1.37M |
| Acquisitions | $0 | $0 | $0 | -$1M | -$1.57M | $0 | -$4.41M | $0 | -$22.01M | $7K | $0 |
| Purchases of Investments | -$484K | -$100.99M | -$51.98M | -$177.73M | -$1.57M | -$15.02M | -$4.41M | $0 | -$1.2M | $0 | $0 |
| Sales of Investments | $2.15M | $174.98M | $109.58M | $4.58M | $0 | $0 | $8.97M | $0 | $1.08M | $0 | $0 |
| Other Investing Activities | -$335.71M | -$3.48M | -$2.46M | -$426K | $1.01M | -$9.51M | -$4.56M | -$241K | -$831K | $7K | $0 |
| Net Cash from Investing | -$390.33M | -$11.96M | -$6.75M | -$265.67M | -$11.28M | -$69.95M | -$5.53M | -$2.07M | -$23.72M | -$810K | -$1.37M |
| Financing Activities | |||||||||||
| Debt Repaid | -$58.89M | -$87.31M | -$40.08M | $2.22M | -$4.93M | -$17.75M | - | - | - | $141K | - |
| Common Stock Issuance | $657.73M | $11.1M | $6.14M | $1.31M | $550.76M | $0 | $86.11M | $528K | $33.02M | $9.45M | $0 |
| Common Stock Repurchases | -$6.99M | $0 | $0 | $0 | $0 | $0 | -$2.83M | $0 | $0 | $0 | $0 |
| Dividends Paid | -$7.58M | -$6.9M | -$3.95M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $242K | $0 | $0 | $0 | $0 | $2.75M | -$259K | $528K | $38.68M | $10.55M | $0 |
| Net Cash from Financing | $742.49M | $92.48M | $18.53M | $45.87M | $538.77M | $32.83M | $87.44M | $5.12M | $38.72M | $10.55M | $2.27M |
| Forex Effect | $12.82M | -$4.83M | -$1.74M | -$32.62M | $3.91M | $4.57M | -$582K | -$518K | $663K | -$324K | -$378K |
| Net Change in Cash | $354.65M | $228.14M | -$65.28M | -$314.62M | $491.3M | -$46.09M | $90.73M | $9.44M | $7.56M | $5.72M | $3.23M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | -$10.32M | $152.45M | -$75.32M | -$62.19M | -$40.09M | -$13.55M | $9.4M | $6.91M | -$8.1M | -$3.7M | $2.7M |
| Capital Expenditure | -$56.28M | -$82.46M | -$64.34M | -$92.52M | -$9.71M | -$55.48M | -$1.13M | -$2.07M | -$766K | -$817K | -$1.37M |
| Free Cash Flow | -$66.61M | $69.99M | -$139.66M | -$154.71M | -$49.8M | -$69.03M | $8.28M | $4.84M | -$8.87M | -$4.52M | $1.33M |
| Cash at Beginning | $411.31M | $183.17M | $248.45M | $563.07M | $71.77M | $117.86M | $27.12M | $17.68M | $10.12M | $4.4M | $1.17M |
| Cash at End | $765.96M | $411.31M | $183.17M | $248.45M | $563.07M | $71.77M | $117.86M | $27.12M | $17.68M | $10.12M | $4.4M |