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.


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

-0.3%

ACMR

1.6%

US Semiconductor

1.0%

US Market


1 Year Return

33.9%

ACMR

22.4%

US Semiconductor

8.0%

US Market

Return vs Industry: ACMR exceeded the US Semiconductor industry which returned 22.4% over the past year.

Return vs Market: ACMR exceeded the US Market which returned 8% over the past year.


Shareholder returns

ACMRIndustryMarket
7 Day-0.3%1.6%1.0%
30 Day-8.6%2.8%-0.07%
90 Day-27.9%2.0%-1.0%
1 Year33.9%33.9%24.9%22.4%10.4%8.0%
3 Yearn/a81.5%70.8%46.2%36.7%
5 Yearn/a134.6%110.3%64.3%46.2%

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 compared to its fair value and its price relative to the market?

17.11x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ACMR ($13.15) is trading above our estimate of fair value ($9.2)

Significantly Below Fair Value: ACMR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ACMR is good value based on its PE Ratio (17.1x) compared to the Semiconductor industry average (27.5x).

PE vs Market: ACMR is good value based on its PE Ratio (17.1x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: ACMR is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: ACMR is overvalued based on its PB Ratio (3.5x) compared to the US Semiconductor industry average (2.7x).


Next Steps

Future Growth

How is ACM Research forecast 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 Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACMR's forecast earnings growth (12.7% per year) is above the savings rate (2.7%).

Earnings vs Market: ACMR's earnings (12.7% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: ACMR's earnings are forecast to grow, but not significantly.

Revenue vs Market: ACMR's revenue (20.3% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: ACMR's revenue (20.3% 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 (17.3%).


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

Earnings Trend: ACMR's earnings have grown significantly by 60.2% per year over the past 5 years.

Accelerating Growth: ACMR's earnings growth over the past year (329.7%) exceeds its 5-year average (60.2% per year).

Earnings vs Industry: ACMR earnings growth over the past year (329.7%) exceeded the Semiconductor industry -6.2%.


Return on Equity

High ROE: ACMR's Return on Equity (20.6%) is considered high.


Return on Assets

ROA vs Industry: ACMR has a higher Return on Assets than the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: ACMR's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is ACM Research's financial position?


Financial Position Analysis

Short Term Liabilities: ACMR's short term assets ($108.4M) exceeds its short term liabilities ($53.4M)

Long Term Liabilities: ACMR's short term assets (108.4M) exceeds its long term liabilities (7.2M)


Debt to Equity History and Analysis

Debt Level: ACMR's debt to equity ratio (25.3%) is considered satisfactory

Reducing Debt: Insufficient data to determine if ACMR's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: ACMR's debt is well covered by operating cash flow (42.5%).

Interest Coverage: ACMR's interest payments on its debt are well covered by EBIT (24.3x coverage).


Balance Sheet

Inventory Level: ACMR has a high level of physical assets or inventory.

Debt Coverage by Assets: ACMR's debt is covered by short term assets (assets are 7.174050x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ACMR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

8.8yrs

Average management tenure


CEO

David Wang (57yo)

21.8yrs

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

Compensation vs. Market: Insufficient data to establish whether David's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: David's compensation has increased by more than 20% in the past year.


Management Age and Tenure

8.8yrs

Average Tenure

58yo

Average Age

Experienced Management: ACMR's management team is seasoned and experienced (8.8 years average tenure).


Board Age and Tenure

2.8yrs

Average Tenure

59yo

Average Age

Experienced Board: ACMR's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • David Wang (57yo)

    Founder

    • Tenure: 21.8yrs
    • Compensation: US$342.18k
  • Jian Wang (54yo)

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

    • Tenure: 8.8yrs
    • Compensation: US$430.03k
  • Sotheara Cheav (67yo)

    Vice President of Manufacturing - ACM Research (Shanghai)

    • Tenure: 8.8yrs
    • Compensation: US$427.05k
  • Chiang Yang (59yo)

    Chief Marketing Officer & Member of Advisory Board

    • Tenure: 2.2yrs
  • Lisa Feng

    Interim CFO

    • Tenure: 1.8yrs
  • Robert Arthur

    Secretary

    • Tenure: 0yrs

Board Members

  • Lip-Bu Tan (59yo)

    Member of Advisory Board

    • Tenure: 2.8yrs
  • Calvin Hu (71yo)

    Non-Employee Director & Member of Advisory Board

    • Tenure: 2.8yrs
    • Compensation: US$24.00k
  • Stephen Chiao (72yo)

    Member of Advisory Board

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

    Founder

    • Tenure: 21.8yrs
    • Compensation: US$342.18k
  • Haiping Dun (69yo)

    Lead Director

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

    Non-Employee Director

    • Tenure: 3.1yrs
    • Compensation: US$7.00k
  • Chiang Yang (59yo)

    Chief Marketing Officer & Member of Advisory Board

    • Tenure: 2.2yrs
  • Srini Raghavan

    Member of Advisory Board

    • Tenure: 3.4yrs
  • Yinan Xiang (44yo)

    Dircector

    • Tenure: 1.9yrs
    • Compensation: US$3.50k
  • Zhengfan Yang (38yo)

    Director

    • Tenure: 1.8yrs
    • 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$235.761m
  • 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 Analysis2019/10/22 00:37
End of Day Share Price2019/10/21 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.