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ACMR

ACM Research NasdaqGM:ACMR Stock Report

Last Price

US$19.16

Market Cap

US$1.1b

7D

6.4%

1Y

-32.2%

Updated

11 Aug, 2022

Data

Company Financials +
ACMR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance1/6
Financial Health5/6
Dividends0/6

ACMR Stock Overview

ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide.

ACM Research Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ACM Research
Historical stock prices
Current Share PriceUS$19.16
52 Week HighUS$39.71
52 Week LowUS$11.23
Beta0.62
1 Month Change24.09%
3 Month Change40.37%
1 Year Change-32.16%
3 Year Change311.16%
5 Year Changen/a
Change since IPO850.08%

Recent News & Updates

Aug 04

ACM Research Q2 2022 Earnings Preview

ACM Research (NASDAQ:ACMR) is scheduled to announce Q2 earnings results on Friday, August 5th, before market open. The consensus EPS Estimate is $0.03 (-84.2% Y/Y) and the consensus Revenue Estimate is $72.28M (+34.3% Y/Y). Over the last 2 years, ACMR has beaten EPS estimates 88% of the time and has beaten revenue estimates 75% of the time. Over the last 3 months, EPS estimates have seen 1 upward revision and 4 downward. Revenue estimates have seen 0 upward revisions and 7 downward.

Shareholder Returns

ACMRUS SemiconductorUS Market
7D6.4%-3.3%1.3%
1Y-32.2%-7.6%-11.7%

Return vs Industry: ACMR underperformed the US Semiconductor industry which returned -8.1% over the past year.

Return vs Market: ACMR underperformed the US Market which returned -11.6% over the past year.

Price Volatility

Is ACMR's price volatile compared to industry and market?
ACMR volatility
ACMR Average Weekly Movement9.7%
Semiconductor Industry Average Movement8.9%
Market Average Movement7.8%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: ACMR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: ACMR's weekly volatility (10%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1998877David Wanghttps://www.acmrcsh.com

ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating. The company markets and sells its products under the Ultra C brand name through direct sales force and third-party representatives.

ACM Research Fundamentals Summary

How do ACM Research's earnings and revenue compare to its market cap?
ACMR fundamental statistics
Market CapUS$1.14b
Earnings (TTM)US$32.17m
Revenue (TTM)US$308.74m

35.3x

P/E Ratio

3.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACMR income statement (TTM)
RevenueUS$308.74m
Cost of RevenueUS$169.76m
Gross ProfitUS$138.97m
Other ExpensesUS$106.80m
EarningsUS$32.17m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.54
Gross Margin45.01%
Net Profit Margin10.42%
Debt/Equity Ratio3.5%

How did ACMR perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is ACMR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ACMR?

Other financial metrics that can be useful for relative valuation.

ACMR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.9x
Enterprise Value/EBITDA19.4x
PEG Ratio1.4x

Price to Earnings Ratio vs Peers

How does ACMR's PE Ratio compare to its peers?

ACMR PE Ratio vs Peers
The above table shows the PE ratio for ACMR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average20.4x
CAMT Camtek
19.2x8.0%US$1.3b
UCTT Ultra Clean Holdings
18.6x53.2%US$1.5b
ICHR Ichor Holdings
15.5x18.6%US$973.7m
VECO Veeco Instruments
28.4x18.8%US$1.1b
ACMR ACM Research
35.3x24.9%US$1.1b

Price-To-Earnings vs Peers: ACMR is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the peer average (20.4x).


Price to Earnings Ratio vs Industry

How does ACMR's PE Ratio compare vs other companies in the US Semiconductor Industry?

Price-To-Earnings vs Industry: ACMR is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the US Semiconductor industry average (20.4x)


Price to Earnings Ratio vs Fair Ratio

What is ACMR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ACMR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.3x
Fair PE Ratio26.9x

Price-To-Earnings vs Fair Ratio: ACMR is expensive based on its Price-To-Earnings Ratio (35.3x) compared to the estimated Fair Price-To-Earnings Ratio (26.9x).


Share Price vs Fair Value

What is the Fair Price of ACMR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ACMR ($19.16) is trading below our estimate of fair value ($33.85)

Significantly Below Fair Value: ACMR is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is ACM Research forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


24.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACMR's forecast earnings growth (24.9% per year) is above the savings rate (1.9%).

Earnings vs Market: ACMR's earnings (24.9% per year) are forecast to grow faster than the US market (14.5% per year).

High Growth Earnings: ACMR's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ACMR's revenue (23.3% per year) is forecast to grow faster than the US market (8% per year).

High Growth Revenue: ACMR's revenue (23.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACMR's Return on Equity is forecast to be low in 3 years time (12.3%).


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Past Performance

How has ACM Research performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


47.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ACMR has a high level of non-cash earnings.

Growing Profit Margin: ACMR's current net profit margins (10.4%) are lower than last year (15.3%).


Past Earnings Growth Analysis

Earnings Trend: ACMR has become profitable over the past 5 years, growing earnings by 47.4% per year.

Accelerating Growth: ACMR's earnings growth over the past year (10.2%) is below its 5-year average (47.4% per year).

Earnings vs Industry: ACMR earnings growth over the past year (10.2%) underperformed the Semiconductor industry 52.7%.


Return on Equity

High ROE: ACMR's Return on Equity (5%) is considered low.


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Financial Health

How is ACM Research's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ACMR's short term assets ($900.6M) exceed its short term liabilities ($252.7M).

Long Term Liabilities: ACMR's short term assets ($900.6M) exceed its long term liabilities ($31.6M).


Debt to Equity History and Analysis

Debt Level: ACMR has more cash than its total debt.

Reducing Debt: ACMR's debt to equity ratio has reduced from 23.4% to 3.5% over the past 5 years.

Debt Coverage: ACMR's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: ACMR earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is ACM Research current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.19%

Forecast Dividend Yield

Dividend Yield vs Market

Notable Dividend: Unable to evaluate ACMR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ACMR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ACMR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ACMR's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ACMR has not reported any payouts.


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Management

How experienced are the management team and are they aligned to shareholders interests?

11.6yrs

Average management tenure


CEO

David Wang (61 yo)

24.58yrs

Tenure

US$398,876

Compensation

Dr. Hui Wang, also known as David, Ph D., serves as Chairman of ACM Research (Shanghai), Inc. Dr. Wang has been Chief Executive Officer, President and Director at ACM Research, Inc. since January 1998 and...


CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD398.88K) is below average for companies of similar size in the US market ($USD3.91M).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ACMR's management team is seasoned and experienced (11.6 years average tenure).


Board Members

Experienced Board: ACMR's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

ACM Research, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: ACM Research, Inc.
  • Ticker: ACMR
  • Exchange: NasdaqGM
  • Founded: 1998
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: US$1.136b
  • Shares outstanding: 59.27m
  • Website: https://www.acmrcsh.com

Number of Employees


Location

  • ACM Research, Inc.
  • 42307 Osgood Road
  • Suite I
  • Fremont
  • California
  • 94539
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/11 00:00
End of Day Share Price2022/08/11 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.