ACM Research, Inc.

Valuation Analysis

About the Company

ACM Research, Inc., together with its subsidiaries, develops, manufactures, and sells capital equipment in Mainland China and internationally. It also develops, manufactures, and sells a range of packaging tools to wafer assembly and packaging customers. The company provides wet cleaning equipment for front end production processes; electrochemical plating, furnace, PECVD, and track platforms; Space Alternated Phase Shift, technology for flat and wafer surfaces; timely energized bubble oscillation, technology for patterned wafer surfaces at advanced process nodes; and Tahoe technology; and semi-critical cleaning tools. It also offers advanced packaging equipment, such as coaters, developers, photoresist strippers, scrubbers, wet etchers and copper-plating equipment; and advanced packaging

ACM Research, Inc. Stock at a Glance

ACM Research, Inc. (ACMR) is currently trading at $93.95 with a market capitalization of $6.5B. The trailing P/E ratio stands at 71.72x, with a forward P/E of 41.69x. The 52-week range spans from $23.03 to $99.45; the current price is 5.5% below the yearly high. Year-over-year revenue growth stands at +34.2%. The net profit margin stands at 9.48%.

💰 Dividend

ACM Research, Inc. currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.

📊 Analyst Rating

7 analysts rate ACM Research, Inc. (ACMR) on consensus: Strong Buy. The average price target is $85.06, implying -9.47% from the current price. Analyst price targets range from $70.00 to $109.40.

ACM Research, Inc.: The Investment Case in Detail

ACM Research, Inc. (ACMR) operates in the Technology — specifically Semiconductor Equipment & Materials — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Top-line momentum is unusually strong with revenue expanding 34.2% year-over-year, a pace that puts the company well above the market average and signals genuine demand traction rather than mere cyclical tailwind. The combination of a 44.23% gross margin and 15.64% operating margin shows the business converts revenue into profit efficiently — a hallmark of competitive moat.

The Bear Case

With a beta near 1.98, the share price moves sharply more than the broader market — drawdowns in market corrections can be unusually severe and require strong nerves. Our valuation screen flags the stock as overvalued — current multiples imply the business needs to deliver well above its recent trajectory to justify the price.

Valuation in Context

The EV/EBITDA multiple of 41.81x reflects rich expectations — historically, multiples at this level have proven hard to maintain for more than a few quarters.

What to Watch Next

• The forward P/E of 41.69x is meaningfully below the trailing 71.72x — analysts expect earnings to step up; the next earnings release is the test.
• The share is trading at 92.8% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to above-average price swings, elevated short interest (5.62%).

Trading Data

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