ACM Research, Inc. Financial Ratios — ACMR Stock

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	75.42	77.03	49.65	61.57	49.72	30.82
Return on Assets (%)	- -	2.69	-0.57	7.69	11.78	6.72	5.42	3.43	5.67	6.19	3.98
Return on Capital (%)	- -	-11.61	- -	1,173.51	- -	- -	17.12	10.63	16.55	15.03	8.27
Return on Invested Capital (%)	- -	44.91	- -	10.68	- -	- -	6.96	5.08	8.26	10.23	5.63
Gross Margin (%)	45.25	48.7	47.18	46.15	47.11	44.44	44.22	47.22	49.53	50.06	44.39
EBITDA Margin (%)	16.1	13.43	2.66	9.23	17.28	14.4	15.81	16.56	18.63	20.58	13.95
Operating Margin (%)	15.58	12.75	1.92	8.67	16.55	13.72	14.9	15.18	17.18	19.31	12.14
Incremental Operating Margin (%)	- -	35.8	-30.54	15.13	34.43	7.54	16.69	15.75	21.79	24.58	-34.88
Pretax Margin (%)	17.27	10.89	-0.89	9.89	17.61	12.32	16.58	17.32	20.84	21.26	15
Profit Margin (%)	17.24	3.77	-0.87	8.81	17.57	11.99	14.54	10.1	13.87	13.25	10.44
Net Income to Common Margin (%)	17.24	3.77	-0.87	8.81	17.57	11.99	14.54	10.1	13.87	13.25	10.44
Effective Tax Rate (%)	- -	19.95	- -	10.92	- -	- -	0.31	24.94	16.66	21.06	9.84
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	3.4	4.34	5.06
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	75.42	77.03	49.65	59.48	47.56	29.26

Credit (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	10	5	5	9	18	50	39	80	99	189	298
ST Debt	10	5	5	9	15	29	14	60	41	79	114
LT Debt	- -	- -	- -	- -	3	21	25	20	58	109	184
Total Debt/EBITDA	1.93	1.3	5.25	1.37	0.95	2.22	0.95	1.23	0.95	1.17	2.37
Net Debt/EBITDA	1.05	-1.45	-12.96	-2.57	-2.4	-1.16	-12.85	-2.65	-0.87	-1.4	-3.73
Total Debt/EBIT	1.99	1.37	7.28	1.46	0.99	2.33	1.01	1.35	1.03	1.25	2.72
Net Debt/EBIT	1.09	-1.53	-17.98	-2.73	-2.5	-1.21	-13.63	-2.9	-0.94	-1.49	-4.29
EBITDA to Interest Expense	41.17	20.31	3.51	13.83	24.94	22.96	53.67	38.91	38.77	38.78	18.08
EBITDA-CapEx/Interest Expense	29.93	15.8	0.74	9.67	23.43	-33.54	40.97	-16.99	14.77	18.07	9.79
EBIT to Interest Expense	39.86	19.28	2.53	12.99	23.88	21.89	50.59	35.67	35.75	36.38	15.73
Interest Expense	- -	- -	- -	- -	1	1	1	2	3	4	7
Common Equity/Total Assets	-32.33	-21.68	-14.67	-3.29	7.12	10.05	6.06	7.64	10.52	14.01	12.2
Long-Term Debt/Equity (%)	- -	- -	- -	- -	2.6	10.02	3.06	2.44	6.29	9.98	9.53
Long-Term Debt/Capital (%)	- -	- -	- -	- -	7.64	13.78	10.42	6.36	14.04	17.09	16.51
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	1.16	6.11	2.36	1.6	3.9	5.89	6.41
Total Debt/Equity (%)	-216.37	192.03	12.78	18.05	18.13	24.03	4.82	9.79	10.7	17.23	15.43
Total Debt/Capital (%)	317.43	9,544	-104.73	155.87	53.21	33.05	16.42	25.54	23.9	29.49	26.73
Total Debt/Total Assets (%)	30.14	10.73	7.5	9.17	8.1	14.66	3.72	6.43	6.65	10.17	10.37
Net Debt to Equity	-118.11	-215.17	-31.58	-33.78	-45.73	-12.51	-65	-21.05	-9.72	-20.5	-24.31
Net Debt/Capital (%)	-392.43	53.1	55.82	83.92	177.24	-32.74	162.73	-270.05	-38.7	-96.56	-131.42
EBITDA	5	4	1	7	19	23	41	64	104	161	126
EBITDA-CapEx	4	3	- -	5	17	-33	31	-28	40	75	68
Operating Income (Loss)	5	3	1	6	18	21	39	59	96	151	109

Liquidity (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.21	0.59	0.81	0.59	1.09	0.97	2.87	0.85	0.57	0.69	1.55
Current Ratio	1.36	2.36	2.88	2.08	3.71	2.53	4.63	2.43	2.35	2.31	3.27
Quick Ratio	0.86	1.64	2.15	1.2	1.72	1.61	3.48	1.39	1.21	1.36	2.3
CFO/Avg Current Liab	- -	-0.2	-0.42	0.2	0.19	-0.17	-0.26	-0.21	-0.17	0.27	-0.01
Common Equity/Total Assets	-32.33	-21.68	-14.67	-3.29	7.12	10.05	6.06	7.64	10.52	14.01	12.2
Long-Term Debt/Equity (%)	- -	- -	- -	- -	2.6	10.02	3.06	2.44	6.29	9.98	9.53
Long-Term Debt/Capital (%)	- -	- -	- -	- -	7.64	13.78	10.42	6.36	14.04	17.09	16.51
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	1.16	6.11	2.36	1.6	3.9	5.89	6.41
Total Debt/Equity (%)	-216.37	192.03	12.78	18.05	18.13	24.03	4.82	9.79	10.7	17.23	15.43
Total Debt/Capital (%)	317.43	9,544	-104.73	155.87	53.21	33.05	16.42	25.54	23.9	29.49	26.73
Total Debt/Total Assets (%)	30.14	10.73	7.5	9.17	8.1	14.66	3.72	6.43	6.65	10.17	10.37
CFO/Total Liabilities	7.38	-8.82	-28.9	13.62	7.81	-10.18	-16.67	-14.69	-13.34	20.06	-1.1
CFO/CapEx	1.97	-4.53	-10.58	3.34	8.36	-0.24	-4.13	-0.67	-1.17	1.77	-0.18
Altman's Z-Score	1.28	1.2	1.87	3.5	3.21	8.09	5.41	1.79	2.53	2.18	2.93

Working Capital (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	1.95	1.71	2.91	3.86	3.58	3.21	2.7	2.39	2.33	2.02
Days Sales Outstanding	- -	187.33	213.9	125.6	94.54	101.99	113.82	135.4	152.53	156.39	180.47
Inventory Turnover	- -	1.35	1.43	1.48	1.36	1.3	0.94	0.67	0.6	0.68	0.77
Days Inventory Outstanding	- -	270.49	256.07	245.88	268.15	279.83	386.37	543.62	608.47	534.27	473.55
Accounts Payable Turnover	- -	4.56	3.65	5.28	4.2	5.36	4.25	3.9	3.56	3.15	3.42
Accounts Payable Turnover Days	- -	80.08	99.9	69.16	86.85	68.14	85.84	93.67	102.48	115.77	106.85
Cash Conversion Cycle	- -	377.75	370.08	302.31	275.84	313.68	414.34	585.35	658.52	574.9	547.17
Inventory to Cash Days	- -	-83.15	-42.17	-120.28	-173.61	-177.83	-272.55	-408.22	-455.94	-377.88	-293.08
Inventories	9	12	15	39	45	89	218	393	545	598	703
Raw Materials	4	8	6	13	15	32	91	167	235	224	350
Work In Process	1	1	4	10	10	24	36	79	81	81	61
Finished Goods	4	3	5	16	19	32	92	147	229	293	292
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	36	172	310	1,481	1,639	457	1,176	939	2,532
- Cash & Cash Equivalents	4	10	18	27	58	72	563	248	182	407	757
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	4	5	- -	- -	- -	67	135	137	159	191	466
+ Total Debt	10	5	5	9	18	50	39	80	99	189	298
Enterprise Value	9	- -	23	154	269	1,498	1,221	335	1,150	875	2,137
Total Capital	3	- -	-5	6	33	151	238	311	415	640	1,114
Total Debt/Capital (%)	317.43	9,544	-104.73	155.87	53.21	33.05	16.42	25.54	23.9	29.49	26.73
Total Debt / EV	1.07	-11.15	0.22	0.06	0.07	0.03	0.03	0.24	0.09	0.22	0.14
EV/Sales	0.29	- -	0.64	2.07	2.51	9.57	4.7	0.86	2.06	1.12	2.37
EV/EBITDA	1.8	- -	24.16	22.4	14.5	66.45	29.74	5.2	11.06	5.44	16.99
EV/EBIT	1.86	- -	33.51	23.84	15.14	69.71	31.55	5.67	11.99	5.8	19.53
EV/Cash Flow to Firm	3.14	- -	- -	20.98	26.49	- -	- -	- -	- -	5.62	- -
EV/Free Cash Flow to Firm	2.13	- -	- -	16.37	23.85	34.81	- -	10.61	- -	3.62	39.86
Diluted Market Cap	- -	- -	36	195	353	1,721	1,857	504	1,268	1,000	2,655
Diluted Enterprise Value	9	- -	23	177	312	1,766	1,469	473	1,343	973	2,662
EV per Share	0.59	- -	1.14	3.26	5.34	27.39	21.18	5.65	19.11	14.07	33.29
TTM Sales	31	27	37	75	108	157	260	389	558	782	901
TTM EBITDA	5	4	1	7	19	23	41	64	104	161	126
TTM Operating Income	5	3	1	6	18	21	39	59	96	151	109
TTM Cash Flow to Firm	3	-4	-7	7	10	-12	-39	-61	-73	156	-4
TTM Free Cash Flow to Firm	4	-3	-7	9	11	43	-30	32	-9	242	54

Multiples (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	-4.91	21.72	33.53	41.04	-61.14	16.61	-115.39	4.2	56.11
EV/EBIT	1.86	- -	33.51	23.84	15.14	69.71	31.55	5.67	11.99	5.8	19.53
Enterprise Value	9	- -	23	154	269	1,498	1,221	335	1,150	875	2,137
Low Price	- -	- -	1.61	1.58	3.01	5.32	20.28	5.46	8.75	13.87	14.97
EV/Sales	0.29	- -	0.64	2.07	2.51	9.57	4.7	0.86	2.06	1.12	2.37
EV/EBITDA	1.8	- -	24.16	22.4	14.5	66.45	29.74	5.2	11.06	5.44	16.99
Price/Earnings	- -	- -	- -	26.15	16.41	78.88	43.4	11.63	15.2	9.07	26.91
Price/Earnings Average	- -	- -	-128.19	26.06	13.21	59.38	46.83	24.59	10.6	12.8	19.24
Price/Earnings High	- -	- -	-183.29	37.47	19.45	110.57	73.71	46.06	16.39	20.65	30.78
Price/Earnings Low	- -	- -	-104.28	11.38	8.03	15.5	30.97	8.24	6.81	8.33	10.21
Price/Book Value	- -	- -	-3.62	-50.78	19.99	43.2	25.71	4.84	7.5	3.61	7.23
Price/Book Value Average	- -	- -	-4.09	-50.59	16.1	32.52	27.74	10.22	5.23	5.1	5.16
Price/Book Value High	- -	- -	-5.85	-72.74	23.69	60.56	43.66	19.15	8.08	8.23	8.26
Price/Book Value Low	- -	- -	-3.33	-22.1	9.78	8.49	18.34	3.42	3.36	3.32	2.74
Price/Tangible Book Value	- -	- -	0.91	3.3	3.2	7.51	2.05	0.57	1.27	0.86	1.31
Price/Tangible Book Value Average	- -	- -	1.03	3.29	2.57	5.65	2.21	1.2	0.89	1.21	0.94
Price/Tangible Book Value High	- -	- -	1.47	4.73	3.79	10.53	3.48	2.25	1.37	1.96	1.5
Price/Tangible Book Value Low	- -	- -	0.83	1.44	1.56	1.48	1.46	0.4	0.57	0.79	0.5
Price/Sales	- -	- -	0.99	2.3	2.88	9.46	6.31	1.17	2.11	1.2	2.81
Price/Sales Average	- -	- -	1.12	2.3	2.32	7.12	6.81	2.48	1.47	1.7	2.01
Price/Sales High	- -	- -	1.6	3.3	3.42	13.26	10.71	4.65	2.27	2.74	3.21
Price/Sales Low	- -	- -	0.91	1	1.41	1.86	4.5	0.83	0.94	1.1	1.07
Price/Cash Flow	- -	- -	-4.45	24.89	32.97	-109.34	-40.87	-7.34	-15.61	6.16	-245.24
Price/Cash Flow Average	- -	- -	-5.03	24.79	26.55	-82.31	-44.1	-15.52	-10.89	8.7	-175.29
Price/Cash Flow High	- -	- -	-7.2	35.65	39.08	-153.27	-69.41	-29.08	-16.83	14.04	-280.49
Price/Cash Flow Low	- -	- -	-4.09	10.83	16.13	-21.48	-29.16	-5.2	-6.99	5.66	-93.06
Price/Free Cash Flow Average	- -	- -	-5.56	21.64	27.01	30.89	-65.97	35.11	-80.51	5.93	40.1
Price/Free Cash Flow High	- -	- -	-7.95	31.12	39.75	57.52	-103.84	65.78	-124.43	9.56	64.17
Price/Free Cash Flow Low	- -	- -	-4.52	9.45	16.41	8.06	-43.63	11.76	-51.67	3.85	21.29
EV/Sales Average	0.29	- -	0.77	2.06	1.94	7.41	5.31	2.4	1.61	1.66	2.02
EV/Sales High	0.29	- -	1.25	3.06	3.04	13.55	9.22	4.57	2.41	2.7	3.22
EV/Sales Low	0.29	- -	0.56	0.77	1.03	2.15	3.01	0.75	1.08	1.07	1.07
EV/EBITDA Average	1.8	-0.12	29.02	22.3	11.25	51.47	33.62	14.51	8.62	8.07	14.44
EV/EBITDA High	1.8	-0.12	47.07	33.19	17.59	94.1	58.34	27.6	12.93	13.13	23.08
EV/EBITDA Low	1.8	-0.12	21.19	8.3	5.98	14.91	19.03	4.54	5.79	5.19	7.69
EV/EBIT Average	1.86	-0.12	40.26	23.74	11.75	53.99	35.66	15.82	9.35	8.6	16.6
EV/EBIT High	1.86	-0.12	65.29	35.33	18.37	98.72	61.88	30.11	14.02	13.99	26.53
EV/EBIT Low	1.86	-0.12	29.39	8.83	6.24	15.65	20.19	4.95	6.28	5.53	8.84
Last Price	- -	- -	1.75	3.63	6.15	27.08	28.42	7.71	19.54	15.1	39.45
High Price	- -	- -	2.83	5.2	7.29	37.96	48.27	30.53	21.07	34.4	45.12
Enterprise Value Average	9	- -	28	154	209	1,160	1,380	934	896	1,299	1,817
Enterprise Value High	9	- -	46	229	327	2,122	2,395	1,777	1,343	2,113	2,903
Enterprise Value Low	9	- -	21	57	111	336	781	292	602	836	968

Shares Outstanding	45	45	46	48	54	56	59	60	61	63	66
Diluted Weighted Avg Shares	20	24	21	54	57	64	65	65	65	66	67
Basic Weighted Avg Shares	15	24	21	47	50	55	58	59	60	62	64
Revenue per Share	2.02	1.16	1.77	1.58	2.13	2.86	4.51	6.56	9.27	12.57	14.04
EBITDA per Share	0.33	0.16	0.05	0.15	0.37	0.41	0.71	1.09	1.73	2.59	1.96
Operating Income per Share	0.32	0.15	0.03	0.14	0.35	0.39	0.67	1	1.59	2.43	1.7
Basic EPS, GAAP	0.35	0.04	-0.02	0.14	0.37	0.34	0.65	0.66	1.29	1.67	1.47
Basic EPS from Cont Ops	0.51	0.1	-0.04	0.14	0.39	0.4	0.74	0.85	1.61	2.11	1.9
Diluted EPS, GAAP	0.27	0.04	-0.02	0.12	0.33	0.3	0.58	0.6	1.19	1.56	1.4
Diluted EPS from Cont Ops	0.39	0.1	-0.04	0.12	0.34	0.34	0.66	0.77	1.49	1.98	1.81
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	0.07	0.11	0.12
Cash Flow per Share	0.18	-0.16	-0.39	0.15	0.19	-0.25	-0.7	-1.05	-1.25	2.45	-0.16
Free Cash Flow per Basic Share	0.09	-0.19	-0.43	0.1	0.16	-1.26	-0.86	-2.61	-2.32	1.07	-1.06
Cash & Equivalents per Share	0.29	0.43	0.86	0.57	1.16	1.83	10.27	5.72	4.72	7.14	18.06
Book Value per Share	-0.67	-0.41	-0.48	-0.07	0.31	0.63	1.11	1.59	2.61	4.18	5.46
Tangible Book Value per Share	-0.29	0.1	1.93	1.1	1.92	3.61	13.89	13.54	15.35	17.56	30.03

ACM Research, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)