ACMRNasdaqSpecial Industry Machinery, NECFiscal year ends December 31
ACM Research, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$56.09+2.99 (+5.63%)
Close on Oct 19, 2026
- Market cap
- $4.03B
- P/E (TTM)
- 26.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
44.4%−0.0 pts over 5 years
Operating margin
12.1%−1.6 pts over 5 years
Net margin
10.4%−1.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.2% | +32.3% | +41.9% | – | |
| Gross profit | +2.2% | +29.6% | +41.9% | – | |
| Operating income | -27.5% | +22.8% | +38.5% | – | |
| Net income | -9.2% | +33.8% | +38.0% | – | |
| EPS, diluted | -10.5% | +32.4% | +35.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 15.8% | 7.9% | |
| Return on assets | – | 6.7% | 4.0% | |
| Current ratio | 2.36 | 2.53 | 3.27 | |
| Debt to equity | – | 0.32 | 0.20 | |
| Net debt to EBITDA | – | -1.16× | -3.79× | |
| Interest coverage | 19.3× | 21.9× | 15.7× | |
| Inventory turnover | – | 1.3× | 0.8× | |
| Capex to revenue | 2.9% | 3.3% | 6.2% | |
| Diluted shares | 11M | 64M | 67M |
Where the cash went
Fiscal 2021 to 2025, five years combined
ACM Research generated $340.39M from operations and spent $307.86M on capital expenditure, dividends and share buybacks. 98% of that went back into the business.
Generated
$340.39M
Used
$307.86M
Capital expenditure$300.87M98%Dividends$00%Share buybacks$6.99M2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.4%
×Asset turnover0.38×
×Equity multiplier2.00×
=Return on equity, FY20257.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.4% | 0.38× | 2.00× | 7.9% |
| FY2024 | 13.2% | 0.47× | 2.00× | 12.4% |
| FY2023 | 13.9% | 0.41× | 1.89× | 10.7% |
| FY2022 | 10.1% | 0.34× | 1.69× | 5.8% |
| FY2021 | 14.5% | 0.37× | 1.70× | 9.2% |
| FY2020 | 12.0% | 0.56× | 2.34× | 15.8% |
| FY2019 | 17.6% | 0.67× | 2.14× | 25.3% |
| FY2018 | 8.8% | 0.87× | 1.85× | 14.3% |
| FY2017 | -0.9% | 0.65× | 3.00× | -1.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$94.08M
- Cash generatingOperating cash flow above zero-$10.33M
- Return on assets improvedROA up on the prior year7.0% → 5.1%
- Earnings backed by cashOperating cash flow above net income-$10.33M vs $94.08M
- Less leverageLong-term debt to assets fell5.7% → 6.2%
- Better liquidityCurrent ratio rose2.31 → 3.27
- No dilutionShare count did not rise66M → 67M
- Gross margin improvedGross margin up on the prior year50.06% → 44.39%
- More efficientAsset turnover rose0.52 → 0.49