ACM Research, Inc. (ACMR)

From the record

ACM Research, Inc.'s filings since 2017 show 5 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2020-03-27); an auditor change (8-K item 4.01, 3 times, the latest 2023-09-26); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2023-03-02) (its current reports).

From the record

ACM Research, Inc.'s 8 filed years say what it did: revenue went from $75 million in fiscal 2018 to $901 million in fiscal 2025, up 42.7% a year; it rose in 7 of 7 years; it never fell from a peak; net income was positive in 8 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, ACM Research, Inc.'s diluted share count grew about 1.0% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 72 sales (72 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-06 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, ACM Research, Inc. earned about 5 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 14 cents per dollar of everything the company owns. Leverage: it owed about 33 cents per dollar of assets, and net share issuance: its share count grew 1.6% over the year (the filed statements).

From the record

ACM Research, Inc.'s standing among 13 graded names in its industry family: revenue of $901 million in fiscal 2025 ranks in the top 12% by size; a net margin of 10.4% ranks in the top 42%; revenue growth of 32.3% a year over the last 3 filed years ranks in the top 4% (its annual reports).

From the record

ACM Research, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Wang, David H (Chief Executive Officer, President and Director, as filed), filing under that title since 2017-11-02, 9 years (top 12% of its family); the 10 officers and directors filing in the last fifteen months have been on the record a median of 8.9 years (top 21%); 4 officer or director changes were reported on Form 8-K since 2023-11-13, against the 10 people in charge now (top 46%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

ACM Research, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $757 million against debt of $179 million leaves 20.1% of its assets as net cash, top 50% of its family; cash from operations less capital spending is -7.4% of revenue (bottom 19%); a gross margin of 44.4% (bottom 42%); research spending of 16.1% of revenue (top 21%) (its annual report).

From the record

ACM Research, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 32.3% a year over the last three filed years against 42.7% over all 8, slowing (bottom 27% of its family); the newest year grew 15.3% (top 27%); research spending grew 32.6% a year (top 4%); capital spending grew -14.8% a year (top 46%) (its annual reports). ACM Research, Inc. reported 3 product lines in fiscal 2025: Total Single Wafer and Semi Critical Cleaning Equipment at $626 million (70%), ECP Front End and Packaging Furnace and Other Technologies at $200 million (22%), Advanced Packaging Exclude ECP Services Spares at $76 million (8%); 3 of 3 grew against the year before (its annual report).

From the record

ACM Research, Inc.'s newest year against its own record: revenue of $901 million in fiscal 2025 came in 18.7% below the $1.1 billion its prior three years' pace pointed to (bottom 19% of its family); net income of $94 million against a prior three-year average of $73 million (top 35%); a net margin of 10.4% against 12.4% before (top 50%) (its annual reports).