NasdaqGM:ACMR

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Solid track record with excellent balance sheet.

Risks

  • ACM Research has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has ACM Research's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-3.0%

ACMR

-0.8%

US Semiconductor

-0.2%

US Market


1 Year Return

19.7%

ACMR

9.4%

US Semiconductor

1.1%

US Market

ACMR outperformed the Semiconductor industry which returned 10.2% over the past year.

ACMR outperformed the Market in United States of America which returned 1.6% over the past year.


Share holder returns

ACMRIndustryMarket
7 Day-3.0%-0.8%-0.2%
30 Day0.07%4.9%2.5%
90 Day-11.9%12.0%1.6%
1 Year19.7%19.7%11.5%9.4%3.4%1.1%
3 Yearn/a83.0%72.2%45.2%35.8%
5 Yearn/a123.0%100.4%62.6%44.8%

Price Volatility Vs. Market

How volatile is ACM Research's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ACM Research undervalued based on future cash flows and its price relative to the stock market?

18.56x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

ACM Research's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

ACM Research's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

ACM Research is good value based on earnings compared to the US Semiconductor industry average.

ACM Research is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

ACM Research is poor value based on expected growth next year.


Price Based on Value of Assets

ACM Research is overvalued based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is ACM Research expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

12.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

ACM Research's revenue is expected to grow significantly at over 20% yearly.

ACM Research's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).

ACM Research's revenue growth is expected to exceed the United States of America market average.

ACM Research's earnings growth is positive but not above the United States of America market average.

ACM Research's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

ACM Research is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has ACM Research performed over the past 5 years?

60.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

ACM Research has delivered over 20% year on year earnings growth in the past 5 years.

ACM Research's 1-year earnings growth exceeds its 5-year average (329.7% vs 60.2%)

ACM Research's earnings growth has exceeded the US Semiconductor industry average in the past year (329.7% vs -6.2%).


Return on Equity

ACM Research has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).


Return on Assets

ACM Research used its assets more efficiently than the US Semiconductor industry average last year based on Return on Assets.


Return on Capital Employed

ACM Research's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is ACM Research's financial position?


Financial Position Analysis

ACM Research is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

ACM Research's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

ACM Research's level of debt (25.3%) compared to net worth is satisfactory (less than 40%).

Unable to establish if ACM Research's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (42.5%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 24.3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 7.2x debt.


Next Steps

Dividend

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


Dividend Yield and Payments Analysis

Unable to evaluate ACM Research's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate ACM Research's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as ACM Research has not reported any payouts.

Unable to verify if ACM Research's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as ACM Research has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of ACM Research's salary, the management and board of directors tenure and is there insider trading?

8.7yrs

Average management tenure


CEO

David Wang (57yo)

21.7yrs

Tenure

US$342,182

Compensation

Dr. David H. Wang serves as the President, Chief Executive Officer and Chief Financial Officer of ACM Research (Shanghai), Inc. Dr. Wang has been Chief Executive Officer, President and Director at ACM Rese ...


CEO Compensation Analysis

David's remuneration is lower than average for companies of similar size in United States of America.

David's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

8.7yrs

Average Tenure

58yo

Average Age

The average tenure for the ACM Research management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

2.7yrs

Average Tenure

59yo

Average Age

The average tenure for the ACM Research board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • David Wang (57yo)

    Founder

    • Tenure: 21.7yrs
    • Compensation: US$342.18k
  • Jian Wang (54yo)

    Vice President of Research & Development - ACM Research (Shanghai)

    • Tenure: 8.7yrs
    • Compensation: US$430.03k
  • Sotheara Cheav (67yo)

    Vice President of Manufacturing - ACM Research (Shanghai)

    • Tenure: 8.7yrs
    • Compensation: US$427.05k
  • Chiang Yang (59yo)

    Chief Marketing Officer & Member of Advisory Board

    • Tenure: 2.1yrs
  • Lisa Feng

    Interim CFO

    • Tenure: 1.7yrs
  • Robert Arthur

    Secretary

    • Tenure: 0yrs

Board Members

  • Lip-Bu Tan (59yo)

    Member of Advisory Board

    • Tenure: 2.7yrs
  • Calvin Hu (71yo)

    Non-Employee Director & Member of Advisory Board

    • Tenure: 3.3yrs
    • Compensation: US$24.00k
  • Stephen Chiao (72yo)

    Member of Advisory Board

    • Tenure: 2.8yrs
  • David Wang (57yo)

    Founder

    • Tenure: 21.7yrs
    • Compensation: US$342.18k
  • Haiping Dun (69yo)

    Lead Director

    • Tenure: 0yrs
    • Compensation: US$27.00k
  • Tracy Liu (54yo)

    Non-Employee Director

    • Tenure: 3yrs
    • Compensation: US$7.00k
  • Chiang Yang (59yo)

    Chief Marketing Officer & Member of Advisory Board

    • Tenure: 2.1yrs
  • Srini Raghavan

    Member of Advisory Board

    • Tenure: 3.3yrs
  • Yinan Xiang (44yo)

    Dircector

    • Tenure: 1.8yrs
    • Compensation: US$3.50k
  • Zhengfan Yang (38yo)

    Director

    • Tenure: 1.7yrs
    • Compensation: US$3.00k

Company Information

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


Key Information

  • Name: ACM Research, Inc.
  • Ticker: ACMR
  • Exchange: NasdaqGM
  • Founded: 1998
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: US$255.662m
  • Shares outstanding: 17.93m
  • Website: https://www.acmrcsh.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACMRNasdaqGM (Nasdaq Global Market)YesClass A Common StockUSUSDNov 2017
813DB (Deutsche Boerse AG)YesClass A Common StockDEEURNov 2017

Biography

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. I ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/20 01:24
End of Day Share Price2019/09/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.