ACM Research AI Stock Analysis
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ACM Research (ACMR) AI Stock Analysis
ACM Research
(NASDAQ:ACMR)
The overall score of 60 reflects a company with strong forward-looking demand and a robust balance sheet, offset by significant current operational and market challenges. The most impactful positive factor is the exceptional order and backlog growth highlighted in the earnings call, which points to a powerful revenue recovery. This is counterbalanced by the critical risk of persistent negative free cash flow and a bearish technical trend that signals weak market sentiment. The result is a cautiously optimistic outlook where strong future potential is tempered by present financial and market headwinds.
ACM Research Key Performance Indicators (KPIs)
Revenue by ProductBreaks down revenue by each product line, highlighting which products drive the most sales and indicating areas of potential growth or concern based on market demand and product performance.
ACM is visibly shifting from a cleaning‑centric business toward faster-growing ECP/furnace and advanced‑packaging revenues, a diversification that underpins the company’s reiterated upside guidance and strong gross margins. However, cleaning revenue softened despite higher shipments, reflecting timing and new‑product ramp delays; rising inventory and negative operating cash flow amplify execution risk. The story for investors is execution: if SPM, vertical furnaces and panel plating ramp as guided, mix and margin expansion are credible; missed ramps would expose near‑term cash and margin pressure.
The FlyACM Research (ACMR) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $3.10B
- Dividend Yield
- ―
- Average Volume (3M)
- 1.16M
- Price to Earnings (P/E)
- 28.0
- Beta (1Y)
- 1.88
- Revenue Growth
- 29.07%
- EPS Growth
- -6.53%
- Country
- US
- Employees
- 2,513
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Semiconductors
ACM Research Business Overview & Revenue Model
Company Description
ACM Research, Inc., along with its affiliated companies, is a global developer, manufacturer, and provider of specialized single-wafer wet cleaning systems. These crucial systems are designed to enhance manufacturing processes and improve the yield o...
How the Company Makes Money
ACM Research primarily makes money by selling semiconductor capital equipment (wafer-processing tools) to chip manufacturers and foundries. Its core revenue stream is product revenue from process tool shipments, which can include single-wafer cleanin...
ACM Research Earnings Call Summary
The call was strongly positive, supported by 36.6% revenue growth, 30.6% shipment growth, an 88% increase in backlog, 147% year-to-date order growth, improved operating profitability, and raised full-year revenue guidance. Management also highlighted progress in SPM, electroplating, advanced packaging, furnaces, global expansion, and manufacturing capacity. The primary challenges were gross margin below the long-term target, supply chain constraints, working-capital usage, and the fact that several newer platforms remain in evaluation or early commercialization stages.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For 2026, ACM expects revenue to be $1.24 billion-$1.28 billion, up 38%-42% year-over-year, versus the previous range of $1.125 billion-$1.175 billion, with full year shipment growth to outpace revenue growth; for the fourth quarter, gross margin is expected to improve modestly from the third quarter level, while 2026 R&D is planned in the 15%-17% range, sales and marketing in the 7%-8% range, G&A in the 5% range, effective tax rate in the 10% range, and capital expenditures at about $175 million. ACM is on track to ship more than 20 single-wafer SPM tools across multiple customers for the full year of 2026, expects more than 20 tools installed at a customer site outside mainland China by year-end 2026, representing approximately 10 customer across five countries, and expects fourth-quarter shipments to increase from third-quarter levels, with good growth in shipment for 2027 and beyond; furnace is expected to make more meaningful contribution to revenue in 2027, while Track and PECVD are expected to have additional shipment in 2027, with revenue contribution expected as customer qualification and production adoption progress through 2027 and into 2028.
ACM Research Financial Statement Overview
Summary
Financial performance is mixed. The balance sheet is strong with low debt, but the income statement shows decelerating revenue growth and compressing margins. Critically, cash flow is a major weakness, with persistent and significant negative free cash flow, indicating poor cash conversion of accounting profits.
Income Statement
62PositiveBalance Sheet
78PositiveCash Flow
25Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.14B | 901.31M | 782.12M | 557.72M | 388.83M | 259.75M |
| Gross Profit | 494.18M | 400.07M | 391.55M | 276.21M | 183.62M | 114.86M |
| EBITDA | 219.70M | 158.47M | 180.42M | 126.99M | 74.38M | 46.17M |
| Net Income | 115.88M | 94.08M | 103.63M | 77.35M | 39.26M | 37.76M |
Balance Sheet | ||||||
| Total Assets | 3.59B | 2.87B | 1.86B | 1.49B | 1.24B | 1.05B |
| Cash, Cash Equivalents and Short-Term Investments | 1.32B | 1.17B | 444.10M | 283.93M | 338.65M | 592.05M |
| Total Debt | 350.71M | 302.98M | 188.78M | 99.10M | 79.50M | 39.14M |
| Total Liabilities | 1.12B | 941.68M | 759.82M | 564.75M | 423.33M | 240.51M |
| Stockholders Equity | 1.90B | 1.46B | 904.63M | 767.39M | 674.86M | 676.20M |
Cash Flow | ||||||
| Free Cash Flow | -200.11M | -66.61M | 69.99M | -139.66M | -154.71M | -49.80M |
| Operating Cash Flow | -72.42M | -10.32M | 152.45M | -75.32M | -62.19M | -40.09M |
| Investing Cash Flow | -453.14M | -390.33M | -11.96M | -6.75M | -265.67M | -11.28M |
| Financing Cash Flow | 344.24M | 742.49M | 92.48M | 18.53M | 45.87M | 538.77M |
ACM Research Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACMR, the sentiment is Negative. The current price of 47.95 is below the 20-day moving average (MA) of 49.13, below the 50-day MA of 62.76, and below the 200-day MA of 68.29, indicating a bearish trend. The MACD of -4.34 indicates Negative momentum. The RSI at 42.10 is Neutral, neither overbought nor oversold. The STOCH value of 76.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACMR.
ACM Research Risk Analysis
ACM Research disclosed 61 risk factors in its most recent earnings report. ACM Research reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksACM Research Peers Comparison
Overall Rating
AMAT76Outperform
LRCX73Outperform
KLAC68Neutral- ACMR60Neutral
VECO58Neutral
ACLS54Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| AMAT | 76Outperform | $302.32B | 29.15 | 41.45% | 0.53% | 21.43% | 45.86% |
| LRCX | 73Outperform | $292.03B | 33.47 | 71.75% | 0.49% | 33.36% | 48.32% |
| KLAC | 68Neutral | $204.96B | 37.86 | 87.02% | 0.55% | 15.80% | 25.58% |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| ACMR | 60Neutral | $3.47B | 28.04 | 6.81% | ― | 29.07% | -6.53% |
| VECO | 58Neutral | $2.47B | 92.32 | 2.92% | ― | 6.58% | -49.53% |
| ACLS | 54Neutral | $3.34B | 30.80 | 9.82% | ― | 4.35% | -20.15% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| ACMR | Acm Research | 47.95 | 16.48 | 52.37% | |
| AMAT | Applied Materials, Inc. | 370.50 | 143.05 | 62.89% | |
| ACLS | Axcelis | 104.42 | 23.89 | 29.67% | |
| KLAC | Kla Corporation | 152.32 | 39.37 | 34.86% | |
| LRCX | Lam Research Corp | 225.92 | 79.14 | 53.92% | |
| VECO | Veeco Instruments Inc | 39.06 | 10.52 | 36.86% |
ACM Research Corporate Events
ACM Research Reports Strong Growth and Order Momentum
PositiveOn August 14, 2026, ACM Research (Shanghai) held an earnings conference call in which management reviewed first-half 2026 results, highlighted a 105% year-over-year increase in newly signed orders, and detailed broad-based growth across memory, logic...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 07, 2026