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ACM RESEARCH INC-CLASS A (ACMR) Stock Fundamental Analysis

NASDAQ:ACMR - Nasdaq - US00108J1097 - Common Stock - Currency: USD

16.9  -0.32 (-1.86%)

After market: 17.15 +0.25 (+1.48%)

Fundamental Rating

5

ACMR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 108 industry peers in the Semiconductors & Semiconductor Equipment industry. There are concerns on the financial health of ACMR while its profitability can be described as average. An interesting combination arises when we look at growth and value: ACMR is growing strongly while it also seems undervalued.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year ACMR was profitable.
ACMR had a positive operating cash flow in the past year.
Each year in the past 5 years ACMR has been profitable.
In the past 5 years ACMR reported 4 times negative operating cash flow.
ACMR Yearly Net Income VS EBIT VS OCF VS FCFACMR Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M -100M -150M

1.2 Ratios

Looking at the Return On Assets, with a value of 5.03%, ACMR is in the better half of the industry, outperforming 63.89% of the companies in the same industry.
The Return On Equity of ACMR (10.16%) is better than 66.67% of its industry peers.
With a decent Return On Invested Capital value of 8.48%, ACMR is doing good in the industry, outperforming 75.93% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for ACMR is significantly below the industry average of 11.92%.
The last Return On Invested Capital (8.48%) for ACMR is above the 3 year average (5.41%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.03%
ROE 10.16%
ROIC 8.48%
ROA(3y)3.99%
ROA(5y)5.23%
ROE(3y)7.16%
ROE(5y)10.85%
ROIC(3y)5.41%
ROIC(5y)6.12%
ACMR Yearly ROA, ROE, ROICACMR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100 200 300 400 500

1.3 Margins

The Profit Margin of ACMR (12.38%) is better than 65.74% of its industry peers.
In the last couple of years the Profit Margin of ACMR has grown nicely.
Looking at the Operating Margin, with a value of 17.89%, ACMR is in the better half of the industry, outperforming 73.15% of the companies in the same industry.
ACMR's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 49.36%, ACMR is in the better half of the industry, outperforming 64.81% of the companies in the same industry.
ACMR's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 17.89%
PM (TTM) 12.38%
GM 49.36%
OM growth 3Y7.77%
OM growth 5Y14.55%
PM growth 3Y4.93%
PM growth 5Y9.41%
GM growth 3Y3.67%
GM growth 5Y1.44%
ACMR Yearly Profit, Operating, Gross MarginsACMR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so ACMR is destroying value.
ACMR has more shares outstanding than it did 1 year ago.
ACMR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ACMR has been reduced compared to a year ago.
ACMR Yearly Shares OutstandingACMR Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
ACMR Yearly Total Debt VS Total AssetsACMR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B

2.2 Solvency

An Altman-Z score of 2.12 indicates that ACMR is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.12, ACMR is doing worse than 64.81% of the companies in the same industry.
ACMR has a Debt/Equity ratio of 0.16. This is a healthy value indicating a solid balance between debt and equity.
ACMR has a Debt to Equity ratio of 0.16. This is comparable to the rest of the industry: ACMR outperforms 48.15% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF N/A
Altman-Z 2.12
ROIC/WACC0.6
WACC14.14%
ACMR Yearly LT Debt VS Equity VS FCFACMR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M

2.3 Liquidity

ACMR has a Current Ratio of 2.37. This indicates that ACMR is financially healthy and has no problem in meeting its short term obligations.
ACMR has a Current ratio of 2.37. This is in the lower half of the industry: ACMR underperforms 61.11% of its industry peers.
ACMR has a Quick Ratio of 1.34. This is a normal value and indicates that ACMR is financially healthy and should not expect problems in meeting its short term obligations.
ACMR's Quick ratio of 1.34 is on the low side compared to the rest of the industry. ACMR is outperformed by 77.78% of its industry peers.
Industry RankSector Rank
Current Ratio 2.37
Quick Ratio 1.34
ACMR Yearly Current Assets VS Current LiabilitesACMR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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8

3. Growth

3.1 Past

ACMR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 53.24%, which is quite impressive.
ACMR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 55.38% yearly.
Looking at the last year, ACMR shows a very strong growth in Revenue. The Revenue has grown by 46.98%.
ACMR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 49.53% yearly.
EPS 1Y (TTM)53.24%
EPS 3Y63.93%
EPS 5Y55.38%
EPS Q2Q%10.53%
Revenue 1Y (TTM)46.98%
Revenue growth 3Y52.71%
Revenue growth 5Y49.53%
Sales Q2Q%21%

3.2 Future

The Earnings Per Share is expected to grow by 5.94% on average over the next years.
Based on estimates for the next years, ACMR will show a very strong growth in Revenue. The Revenue will grow by 22.83% on average per year.
EPS Next Y26.72%
EPS Next 2Y10.46%
EPS Next 3Y5.94%
EPS Next 5YN/A
Revenue Next Year39.51%
Revenue Next 2Y29.58%
Revenue Next 3Y26.15%
Revenue Next 5Y22.83%

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
ACMR Yearly Revenue VS EstimatesACMR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 500M 1B 1.5B
ACMR Yearly EPS VS EstimatesACMR Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5 2

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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 7.93, which indicates a rather cheap valuation of ACMR.
ACMR's Price/Earnings ratio is rather cheap when compared to the industry. ACMR is cheaper than 97.22% of the companies in the same industry.
When comparing the Price/Earnings ratio of ACMR to the average of the S&P500 Index (28.39), we can say ACMR is valued rather cheaply.
A Price/Forward Earnings ratio of 8.50 indicates a reasonable valuation of ACMR.
Compared to the rest of the industry, the Price/Forward Earnings ratio of ACMR indicates a rather cheap valuation: ACMR is cheaper than 95.37% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 24.37. ACMR is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 7.93
Fwd PE 8.5
ACMR Price Earnings VS Forward Price EarningsACMR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, ACMR is valued cheaper than 92.59% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 5.74
ACMR Per share dataACMR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
ACMR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.3
PEG (5Y)0.14
EPS Next 2Y10.46%
EPS Next 3Y5.94%

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0

5. Dividend

5.1 Amount

ACMR does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ACM RESEARCH INC-CLASS A

NASDAQ:ACMR (1/28/2025, 4:37:29 PM)

After market: 17.15 +0.25 (+1.48%)

16.9

-0.32 (-1.86%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)11-07 2024-11-07/bmo
Earnings (Next)02-21 2025-02-21/amc
Inst Owners60.73%
Inst Owner Change0.77%
Ins Owners5.19%
Ins Owner Change-21.04%
Market Cap1.06B
Analysts80
Price Target28.56 (68.99%)
Short Float %9.12%
Short Ratio3.2
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)59.94%
Min EPS beat(2)54.06%
Max EPS beat(2)65.81%
EPS beat(4)4
Avg EPS beat(4)80.04%
Min EPS beat(4)54.06%
Max EPS beat(4)145.1%
EPS beat(8)8
Avg EPS beat(8)1389.47%
EPS beat(12)11
Avg EPS beat(12)944.83%
EPS beat(16)14
Avg EPS beat(16)713.69%
Revenue beat(2)2
Avg Revenue beat(2)13.18%
Min Revenue beat(2)4.6%
Max Revenue beat(2)21.75%
Revenue beat(4)4
Avg Revenue beat(4)9.73%
Min Revenue beat(4)0.69%
Max Revenue beat(4)21.75%
Revenue beat(8)7
Avg Revenue beat(8)8.7%
Revenue beat(12)10
Avg Revenue beat(12)9.3%
Revenue beat(16)12
Avg Revenue beat(16)7.08%
PT rev (1m)-11.71%
PT rev (3m)-14.78%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-13.43%
EPS NY rev (1m)0%
EPS NY rev (3m)13.37%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.78%
Revenue NY rev (1m)1.07%
Revenue NY rev (3m)2.61%
Valuation
Industry RankSector Rank
PE 7.93
Fwd PE 8.5
P/S 1.45
P/FCF N/A
P/OCF 34.53
P/B 1.19
P/tB 1.2
EV/EBITDA 5.74
EPS(TTM)2.13
EY12.6%
EPS(NY)1.99
Fwd EY11.77%
FCF(TTM)-0.89
FCFYN/A
OCF(TTM)0.49
OCFY2.9%
SpS11.64
BVpS14.18
TBVpS14.14
PEG (NY)0.3
PEG (5Y)0.14
Profitability
Industry RankSector Rank
ROA 5.03%
ROE 10.16%
ROCE 11.01%
ROIC 8.48%
ROICexc 12.24%
ROICexgc 12.28%
OM 17.89%
PM (TTM) 12.38%
GM 49.36%
FCFM N/A
ROA(3y)3.99%
ROA(5y)5.23%
ROE(3y)7.16%
ROE(5y)10.85%
ROIC(3y)5.41%
ROIC(5y)6.12%
ROICexc(3y)10.11%
ROICexc(5y)10.49%
ROICexgc(3y)10.14%
ROICexgc(5y)10.52%
ROCE(3y)7.09%
ROCE(5y)8.23%
ROICexcg growth 3Y-0.21%
ROICexcg growth 5Y-4.84%
ROICexc growth 3Y-0.2%
ROICexc growth 5Y-4.76%
OM growth 3Y7.77%
OM growth 5Y14.55%
PM growth 3Y4.93%
PM growth 5Y9.41%
GM growth 3Y3.67%
GM growth 5Y1.44%
F-Score4
Asset Turnover0.41
Health
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF N/A
Debt/EBITDA 1
Cap/Depr 942.95%
Cap/Sales 11.83%
Interest Coverage 36.02
Cash Conversion 21.97%
Profit Quality N/A
Current Ratio 2.37
Quick Ratio 1.34
Altman-Z 2.12
F-Score4
WACC14.14%
ROIC/WACC0.6
Cap/Depr(3y)977.06%
Cap/Depr(5y)903.15%
Cap/Sales(3y)13.02%
Cap/Sales(5y)9.98%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)53.24%
EPS 3Y63.93%
EPS 5Y55.38%
EPS Q2Q%10.53%
EPS Next Y26.72%
EPS Next 2Y10.46%
EPS Next 3Y5.94%
EPS Next 5YN/A
Revenue 1Y (TTM)46.98%
Revenue growth 3Y52.71%
Revenue growth 5Y49.53%
Sales Q2Q%21%
Revenue Next Year39.51%
Revenue Next 2Y29.58%
Revenue Next 3Y26.15%
Revenue Next 5Y22.83%
EBIT growth 1Y46.21%
EBIT growth 3Y64.58%
EBIT growth 5Y71.29%
EBIT Next Year68.35%
EBIT Next 3Y18.3%
EBIT Next 5Y26.35%
FCF growth 1Y55.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y130.71%
OCF growth 3YN/A
OCF growth 5YN/A