ACMR

MKT CAP:$4B

ACM Research, Inc.

Market Cap

$4B

Technology·Semiconductors·🇺🇸 United States·NASDAQ

Technology·Semiconductors·🇺🇸·NASDAQ

Stock Price

$56.10+$11.22 (+25.01%)

Apr 24, 2026

Company Details

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 shi...

CEO

Hui Wang

IPO Date

Nov 2, 2017

Website

www.acmrcsh.com

Key Metrics TTM

Revenue

$422M

+465.7% YoY

Net Income

$48M

EPS (Diluted)

$0.72

Free Cash Flow

-$9M

Revenue / Share

$6.30

Gross Margin

46.8%

Operating Margin

16.1%

Net Margin

11.4%

FCF Margin

-2.0%

P/S

8.8x

P/E

76.9x

Earnings Reports

Q3 2024

May 14, 2026

PENDING

FY 2025

Mar 2, 2026

$901MEPS $1.37

Q2 2024

Aug 7, 2024

$202MEPS $0.35

FY 2023

Dec 30, 2023

$558MEPS $1.16

Q4 2023

Dec 30, 2023

$170MEPS $0.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$4M	$1M	-$781.5K
Q2 16	$4M	$1M	-$781.5K
Q1 18	$10M	$5M	-$2M
Q2 18	$21M	$9M	$2M
Q3 18	$23M	$10M	$3M
Q4 18	$21M	$10M	$3M
Q1 19	$20M	$9M	$2M
Q2 19	$29M	$13M	$5M
Q4 23	$170M	$79M	$23M
Q2 24	$202M	$97M	$38M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q1 18	—	—
Q2 18	95.4x	—
Q3 18	63.9x	921.4x
Q4 18	49.5x	562.2x
Q1 19	43.3x	329.7x
Q2 19	39.5x	300.3x
Q4 23	15.4x	141.3x
Q2 24	8.8x	76.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$2M	$2M
Q2 16	$2M	$2M
Q1 18	-$7M	-$8M
Q2 18	$3M	$3M
Q3 18	$1M	$476.0K
Q4 18	$10M	$10M
Q1 19	-$3M	-$3M
Q2 19	-$1M	-$2M
Q4 23	-$38M	-$52M
Q2 24	$62M	$48M

Capital Expenditures

Quarter	CapEx
Q1 16	$51.0K
Q2 16	$51.0K
Q1 18	$395.0K
Q2 18	$644.0K
Q3 18	$909.0K
Q4 18	$123.0K
Q1 19	$116.0K
Q2 19	$280.0K
Q4 23	$13M
Q2 24	$14M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	+470.8%	+308.4%
Q4 18	+413.4%	+276.0%
Q1 19	+110.2%	+56.5%
Q2 19	+39.0%	+31.3%
Q4 23	+634.8%	+643.1%
Q2 24	+871.2%	+805.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$97.0K	2.4%
Q2 16	$97.0K	2.4%
Q1 18	$2M	22.3%
Q2 18	$185.0K	0.9%
Q3 18	$411.0K	1.8%
Q4 18	$592.0K	2.8%
Q1 19	$744.0K	3.6%
Q2 19	$618.0K	2.1%
Q4 23	$13M	7.4%
Q2 24	$14M	7.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 16	$2M	$544.5K	$909.0K
Q2 16	$2M	$544.5K	$909.0K
Q1 18	$2M	$4M	$2M
Q2 18	$2M	$1M	$3M
Q3 18	$2M	$1M	$3M
Q4 18	$4M	$2M	$2M
Q1 19	$3M	$2M	$2M
Q2 19	$3M	$2M	$3M
Q4 23	$32M	$14M	$9M
Q2 24	$26M	$16M	$17M

Revenue Segments

Quarter	Advanced Packaging (exclude ECP), Services & Spares	ECP Front End And Packaging Furnace And Other Technologies	Total Single Wafer and Semi-Critical Cleaning Equipment
Q2 24	$10M	$39M	$153M

Revenue by Geography

Quarter	China	Oher Regions
Q2 24	$197M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$380M	$100M	$480M
Q2 22	$324M	$94M	$418M
Q3 22	$336M	$80M	$417M
Q4 22	$248M	$91M	$339M
Q1 23	$260M	$16M	$276M
Q2 23	$257M	$12M	$270M
Q3 23	$207M	$97M	$305M
Q4 23	$182M	$102M	$284M
Q1 24	$211M	$67M	$278M
Q2 24	$324M	$47M	$371M
Q3 24	$333M	$41M	$374M
Q4 24	$407M	$37M	$444M
Q1 25	$457M	$36M	$493M
Q2 25	$453M	$52M	$505M
Q3 25	$1.1B	$71M	$1.1B
Q4 25	$766M	$402M	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	6M	—	—
Q2 16	6M	0.0%	—
Q1 18	46M	+646.3%	—
Q2 18	54M	+17.8%	—
Q3 18	55M	+0.3%	+781.5%
Q4 18	54M	-0.3%	+778.8%
Q1 19	55M	+0.6%	+18.5%
Q2 19	56M	+2.1%	+2.7%
Q4 23	66M	+18.1%	+20.9%
Q2 24	67M	+1.7%	+23.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	—	—
Q2 16	—	—
Q1 18	$51.0K	191
Q2 18	$109.3K	191
Q3 18	$121.4K	191
Q4 18	$76.4K	273
Q1 19	$75.0K	273
Q2 19	$106.3K	273
Q4 23	$107.1K	2K
Q2 24	$127.3K	2K

Revenue / Employee