ACM Research, Inc. (ACMR) Key Metrics
ACMR valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $3.70B
- Enterprise value
- $4.53B
- P/E (TTM)
- 25.0 10-yr median 23.5
- Forward P/E
- 30.2
- PEG ratio
- —
- Price / sales
- 3.6 10-yr median 2.6
- Price / book
- 3.0 10-yr median 2.0
- EV / EBITDA
- 17.1 10-yr median 16.8
- Dividend yield
- —
- Beta
- 2.09
ACMR key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsACMR valuation Price multiples at each fiscal year-end price.
ACMR returns How much profit the business earns on the capital it uses.
ACMR per-share figures Results divided by the shares outstanding at year-end.
ACMR financial health Debt, liquidity and how easily interest is covered.
ACMR efficiency & capital use Working capital cycle and where the cash goes.
ACMR valuation history
ACMR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ACMR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ACMR cash returned to shareholders
ACMR price vs earnings per share
ACMR key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.66B | $1.00B | $1.27B | $503.8M | $1.86B | $1.72B | $353.0M | $194.9M | $79.0M | — |
| Enterprise value | $1.79B | $744.9M | $1.08B | $244.6M | $1.30B | $1.67B | $312.4M | $177.2M | $66.4M | — |
| P/E ratio | 28.2 | 9.7 | 16.4 | 12.8 | 49.2 | 91.6 | 18.7 | 29.6 | — | — |
| Price / sales | 2.9 | 1.3 | 2.3 | 1.3 | 7.2 | 11.0 | 3.3 | 2.6 | 2.2 | — |
| Price / book | 1.8 | 1.1 | 1.7 | 0.7 | 2.7 | 12.2 | 3.6 | 3.7 | 2.0 | — |
| Price / free cash flow | — | 14.3 | — | — | — | — | 42.6 | 40.3 | — | — |
| Price / operating cash flow | — | 6.6 | — | — | — | — | 37.5 | 28.2 | — | — |
| EV / sales | 2.0 | 1.0 | 1.9 | 0.6 | 5.0 | 10.7 | 2.9 | 2.4 | 1.8 | — |
| EV / EBITDA | 11.3 | 4.1 | 8.5 | 3.3 | 28.3 | 78.3 | 16.8 | 25.7 | 297.8 | — |
| EV / free cash flow | — | 10.6 | — | — | — | — | 37.7 | 36.6 | — | — |
| Earnings yield | 3.5% | 10.4% | 6.1% | 7.8% | 2.0% | 1.1% | 5.4% | 3.4% | −0.4% | — |
| Free cash flow yield | −2.5% | 7.0% | −11.0% | −30.7% | −2.7% | −4.0% | 2.3% | 2.5% | −11.2% | — |
| Dividend yield | 0.3% | 0.7% | 0.3% | 0.0% | 0.0% | 0.0% | 5.3% | — | 16.6% | — |
| Shareholder yield (dividends + buybacks) | 0.5% | 0.7% | 0.3% | 0.0% | 0.0% | 0.0% | 6.1% | 0.0% | 18.5% | — |
| Share price at fiscal year-end | $39.45 | $15.10 | $19.54 | $7.71 | $28.42 | $27.08 | $6.15 | $3.63 | $1.75 | — |
| Per share | ||||||||||
| Revenue per share | $13.39 | $11.81 | $8.60 | $5.95 | $3.97 | $2.46 | $1.87 | $1.39 | $0.81 | $1.16 |
| Earnings per share | $1.40 | $1.56 | $1.19 | $0.60 | $0.58 | $0.30 | $0.33 | $0.12 | −$0.01 | $0.04 |
| Operating cash flow per share | −$0.15 | $2.30 | −$1.16 | −$0.95 | −$0.61 | −$0.21 | $0.16 | $0.13 | −$0.18 | −$0.16 |
| Free cash flow per share | −$0.99 | $1.06 | −$2.15 | −$2.37 | −$0.76 | −$1.09 | $0.14 | $0.09 | −$0.20 | −$0.19 |
| Cash per share | $17.35 | $6.70 | $4.38 | $5.18 | $9.06 | $1.57 | $1.01 | $0.50 | $0.39 | $0.43 |
| Book value per share | $21.75 | $13.66 | $11.83 | $10.33 | $10.35 | $2.22 | $1.70 | $0.97 | $0.88 | −$0.10 |
| Tangible book value per share | $21.71 | $13.61 | $11.79 | $10.18 | $10.18 | $2.06 | $1.69 | $0.97 | $0.88 | −$0.10 |
| Dividends per share | $0.11 | $0.10 | $0.06 | $0.00 | $0.00 | $0.01 | $0.33 | — | $0.29 | — |
| Capex per share | $0.84 | $1.24 | $0.99 | $1.42 | $0.15 | $0.87 | $0.02 | $0.04 | $0.02 | $0.03 |
| Debt per share | $4.50 | $2.85 | $1.53 | $1.22 | $0.60 | $0.79 | $0.31 | $0.18 | $0.11 | $0.20 |
| Shares outstanding | 67.3M | 66.2M | 64.9M | 65.3M | 65.4M | 63.6M | 57.4M | 53.7M | 45.1M | 23.7M |
| Change in shares outstanding | +1.6% | +2.1% | −0.7% | −0.0% | +2.8% | +10.7% | +6.8% | +19.1% | +90.7% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.9% | 12.4% | 10.7% | 5.8% | 9.2% | 15.8% | 25.3% | 14.3% | −1.7% | — |
| Return on invested capital (ROIC) | 15.8% | 19.4% | 16.0% | 16.4% | 36.0% | 29.1% | 39.0% | 18.6% | 5.7% | — |
| Return on assets (ROA) | 4.0% | 6.2% | 5.7% | 3.4% | 5.4% | 6.7% | 11.8% | 7.7% | −0.6% | 2.7% |
| Return on tangible assets | 3.3% | 5.6% | 5.2% | 3.2% | 3.6% | 5.7% | 8.7% | 6.4% | −0.5% | 2.3% |
| Free cash flow margin | −7.4% | 8.9% | −25.0% | −39.8% | −19.2% | −44.1% | 7.7% | 6.5% | −24.3% | −16.5% |
| Income quality (OCF / net income) | −0.11 | 1.47 | −0.97 | −1.58 | −1.06 | −0.72 | 0.50 | 1.05 | — | −3.59 |
| Financial health | ||||||||||
| Total debt | $303.0M | $188.8M | $99.1M | $79.5M | $39.1M | $50.0M | $17.6M | $9.4M | $5.1M | $4.8M |
| Cash & short-term investments | $1.17B | $444.1M | $283.9M | $338.7M | $592.0M | $100.0M | $58.3M | $27.1M | $17.7M | $10.1M |
| Net debt | −$865.1M | −$255.3M | −$184.8M | −$259.1M | −$552.9M | −$50.0M | −$40.6M | −$17.7M | −$12.6M | −$5.3M |
| Debt / equity | 0.21 | 0.21 | 0.13 | 0.12 | 0.06 | 0.35 | 0.18 | 0.18 | 0.13 | — |
| Debt / assets | 0.11 | 0.10 | 0.07 | 0.06 | 0.04 | 0.15 | 0.08 | 0.09 | 0.08 | 0.11 |
| Net debt / EBITDA | −5.46 | −1.42 | −1.46 | −3.48 | −11.97 | −2.34 | −2.19 | −2.57 | −56.39 | −1.60 |
| Current ratio | 3.27 | 2.31 | 2.35 | 2.43 | 4.63 | 2.53 | 3.71 | 2.08 | 2.88 | 2.36 |
| Quick ratio | 2.33 | 1.38 | 1.26 | 1.44 | 3.57 | 1.67 | 2.87 | 1.24 | 2.18 | 1.68 |
| Interest coverage | 15.7 | 36.4 | 35.7 | 35.7 | 50.6 | 21.9 | 23.9 | 13.0 | 2.5 | 19.3 |
| Working capital | $1.69B | $842.1M | $675.5M | $567.6M | $747.0M | $157.7M | $144.9M | $49.9M | $41.1M | $23.3M |
| Invested capital | $599.3M | $649.3M | $582.6M | $415.7M | $123.3M | $91.2M | $56.7M | $34.6M | $27.3M | −$7.8M |
| Tangible asset value | $1.93B | $1.09B | $923.6M | $802.2M | $800.7M | $198.0M | $97.0M | $52.0M | $39.8M | $2.5M |
| Net current asset value | $1.50B | $723.6M | $611.4M | $540.5M | $712.4M | $127.6M | $78.0M | $45.3M | $34.9M | −$1.6M |
| Graham number | $26.16 | $21.93 | $17.81 | $11.82 | $11.60 | $3.84 | $3.54 | $1.64 | — | — |
| Graham net-net per share | $14.74 | $4.60 | $3.64 | $4.15 | $8.49 | $0.96 | −$0.25 | $0.31 | $0.43 | −$0.54 |
| Capital allocation | ||||||||||
| Dividends paid | $7.6M | $6.9M | $4.0M | $0 | $0 | $555,000 | $18.7M | — | $13.1M | — |
| Share buybacks (net) | $7.0M | $0 | $0 | $0 | $0 | $0 | $2.8M | $0 | $1.5M | $0 |
| Dividend payout ratio | 8.1% | 6.7% | 5.1% | 0.0% | 0.0% | 3.0% | 99.2% | — | — | — |
| Dividends + buybacks / free cash flow | — | 9.9% | — | — | — | — | 260.5% | 0.0% | — | — |
| Capex / revenue | 6.2% | 10.5% | 11.5% | 23.8% | 3.7% | 35.4% | 1.0% | 2.8% | 2.1% | 3.0% |
| Capex / operating cash flow | — | 54.1% | — | — | — | — | 12.0% | 30.0% | — | — |
| Capex / depreciation | 3.45 | 8.27 | 7.95 | 17.24 | 4.13 | 52.59 | 1.43 | 4.97 | 2.83 | 4.37 |
| Stock-based compensation / revenue | 3.7% | 6.3% | 4.9% | 2.0% | 2.0% | 3.6% | 3.3% | 4.5% | 4.4% | 1.4% |
| R&D / revenue | 16.1% | 13.5% | 16.6% | 16.0% | 13.2% | 12.2% | 12.0% | 13.9% | 14.1% | 11.9% |
| SG&A / revenue | 16.2% | 17.3% | 15.7% | 16.0% | 16.1% | 18.5% | 18.6% | 23.6% | 31.2% | 24.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 198.8 | 176.1 | 176.1 | 158.7 | 134.7 | 116.3 | 105.0 | 140.4 | 235.2 | 207.3 |
| Days of inventory on hand | 473.5 | 534.3 | 608.5 | 543.6 | 386.4 | 279.8 | 268.2 | 245.9 | 256.1 | 270.5 |
| Days payables outstanding | 140.8 | 136.7 | 165.3 | 173.6 | 162.5 | 102.5 | 96.1 | 109.4 | 114.4 | 87.8 |
| Cash conversion cycle (days) | 531.5 | 573.7 | 619.3 | 528.8 | 358.5 | 293.7 | 277.1 | 276.8 | 376.9 | 389.9 |
| Receivables turnover | 1.84 | 2.07 | 2.07 | 2.30 | 2.71 | 3.14 | 3.48 | 2.60 | 1.55 | 1.76 |
| Payables turnover | 2.59 | 2.67 | 2.21 | 2.10 | 2.25 | 3.56 | 3.80 | 3.34 | 3.19 | 4.16 |
| Inventory turnover | 0.77 | 0.68 | 0.60 | 0.67 | 0.94 | 1.30 | 1.36 | 1.48 | 1.43 | 1.35 |
| Asset turnover | 0.38 | 0.47 | 0.41 | 0.34 | 0.37 | 0.56 | 0.67 | 0.87 | 0.65 | 0.71 |
| Average receivables | $490.9M | $377.3M | $269.1M | $169.1M | $95.9M | $49.9M | $30.9M | $28.7M | $23.5M | $15.5M |
| Average payables | $193.4M | $146.3M | $127.5M | $97.6M | $64.5M | $24.4M | $15.0M | $12.0M | $6.0M | $3.4M |
| Average inventory | $650.3M | $571.7M | $469.3M | $305.6M | $153.4M | $66.7M | $41.8M | $27.1M | $13.5M | $10.4M |
| Intangibles / total assets | 0.1% | 0.2% | 0.2% | 0.8% | 1.0% | 3.0% | 0.2% | 0.3% | 0.2% | 0.0% |
Computed from ACMR's annual financial statements (latest annual report filed March 2, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ACMR valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), ACM Research traded at 28.2 times earnings, against a 10-year median of 23.5. Based on the latest twelve months, the trailing P/E is 25.0 and the forward P/E is 30.2. ACM Research earned a return on equity of 7.9% and a return on invested capital of 15.8% in fiscal 2025. It ended the year with $303.0 million of debt and $1.2 billion in cash and short-term investments, a net cash position of $865.1 million. It returned $14.6 million to shareholders: $7.6 million in dividends and $7.0 million in share buybacks. The share count rose 184.4% from 23.7M to 67.3M over 9 years.
See the ACMR income statement, the ACMR chart for price history, or the ACMR stock overview for the latest quote and news.
ACMR key metrics FAQ
What is ACM Research's P/E ratio?
ACM Research's trailing P/E ratio is 25.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 30.2. At the end of fiscal 2025 it was 28.2, compared with a 10-year median of 23.5.
What is ACM Research's EV/EBITDA?
ACM Research's enterprise value was 11.3 times EBITDA at the end of fiscal 2025 (enterprise value $1.8 billion, EBITDA $158.5 million); the current EV/EBITDA is 17.1.
What is ACM Research's return on equity?
ACM Research's return on equity (ROE) was 7.9% in fiscal 2025: net income of $94.1 million on average shareholders' equity of $1.2 billion.
What is ACM Research's ROIC?
ACM Research's return on invested capital was 15.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ACM Research have?
ACM Research had total debt of $303.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.21 and more cash than debt.
What is ACM Research's dividend yield?
ACM Research paid $7.6 million in dividends in fiscal 2025 ($0.11 per share), a payout ratio of 8.1%.
Does ACM Research buy back its shares?
Yes. ACM Research spent $7.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.6% over the year, to 67.3M..
What is ACM Research's free cash flow yield?
ACM Research generated -$66.6 million of free cash flow in fiscal 2025, a free cash flow yield of −2.5% on its market value at year-end ($2.7 billion).
What is ACM Research's current ratio?
ACM Research's current ratio was 3.27 at the end of fiscal 2025: current assets were 3.27 times current liabilities.