ACM Research, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 901.3M, using the latest reported figures. The previous period, 2024, was about USD 782.1M.

Watchlist

Latest quarter

Revenue

293 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

16.98%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 49743000 USD Source
  • Revenue: 292919000 USD Source

Operating cash flow

-6.36 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -35896000 USD Source
  • Operating Cash Flow: -29538000 USD Source

Free cash flow

-71.5 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -35896000 USD Source
  • Operating Cash Flow: -29538000 USD Source
  • Capital Expenditure: 87311000 USD Source
  • Capital Expenditure: 22201000 USD Source
Cash and cash equivalents
969 million USD Source
Exact value

969229000 USD

Long-term debt including current maturities
234 million USD Source
Exact value

233691000 USD

Shares outstanding
Not available

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 4 of 11 periods available· newest 2025-12-31
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +15.2%

    Prior period

    USD 782.12 million

    –

    Current period

    USD 901.31 million

    –

    Exact inputs and evidence

    901309000 − 782118000 = 119191000 USD

    782118000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    901309000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    -9.2%

    Prior period

    USD 103.63 million

    –

    Current period

    USD 94.08 million

    –

    Exact inputs and evidence

    94078000 − 103627000 = -9549000 USD

    103627000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    94078000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -106.8%

    Prior period

    USD 152.45 million

    –

    Current period

    −USD 10.33 million

    –

    Exact inputs and evidence

    -10325000 − 152450000 = -162775000 USD

    152450000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -10325000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -31.7%

    Prior period

    USD 82.46 million

    –

    Current period

    USD 56.28 million

    –

    Exact inputs and evidence

    56283000 − 82463000 = -26180000 USD

    82463000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    56283000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 901.31 million 100% of revenue
  • Cost of revenue USD 501.24 million 56% of revenue
  • Operating expenses USD 290.64 million 32% of revenue
  • Operating income USD 109.43 million 12% of revenue
  • Tax, interest and other Derived USD 15.35 million 1.7% of revenue
  • Net income USD 94.08 million 10% of revenue

Cash

  • Operating cash flow −USD 10.33 million −1.1% of revenue
  • Capital expenditure USD 56.28 million 6.2% of revenue
  • Free cash flow Derived −USD 66.61 million −7.4% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 87%
  • 2017 Net loss: net income was −0.9% of revenue.
  • 2018 Net income was higher than operating income, so the split is not drawn.
  • 2021 15%85%
  • 2022 10%85%
  • 2023 14%83%
  • 2024 13%81%
  • 2025 10%88%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-3127371000 23881000 Derived 3490000 2459000 Derived 1031000 -4497000 Derived
Source
2017 2017-01-01 – 2017-12-3136506000 35806000 Derived 700000 1018000 Derived -318000 -8752000 Derived
Source
2018 2018-01-01 – 2018-12-3174643000 68172000 Derived 6471000 -103000 Derived 6574000 5079000 Derived
Source
2021 2021-01-01 – 2021-12-31259751000 221049000 Derived 38702000 945000 Derived 37757000 -49246000 Derived
Source
2022 2022-01-01 – 2022-12-31388832000 329797000 Derived 59035000 19772000 Derived 39263000 -153288000 Derived
Source
2023 2023-01-01 – 2023-12-31557723000 461884000 Derived 95839000 18490000 Derived 77349000 -137199000 Derived
Source
2024 2024-01-01 – 2024-12-31782118000 631120000 Derived 150998000 47371000 Derived 103627000 69987000 Derived
Source
2025 2025-01-01 – 2025-12-31901309000 791880000 Derived 109429000 15351000 Derived 94078000 -66608000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 901.3M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.973.4M730.1M486.7M243.4M0.0201620222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue27371000
2017Revenue36506000
2018Revenue74643000
2021Revenue259751000
2022Revenue388832000
2023Revenue557723000
2024Revenue782118000
2025Revenue901309000

Revenue growth

Change in revenue from the same financial period one year earlier.

15.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.113%85%56%28%0%201620222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year33.4%
2018Year over year104.5%
2021Year over yearNo prior comparable period
2022Year over year49.7%
2023Year over year43.4%
2024Year over year40.2%
2025Year over year15.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 12.1% 2025
Net margin 10.4% 2025
Free cash flow margin -7.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.24%7%-10%-27%-44%201620222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin12.8%
2017Operating margin1.9%
2018Operating margin8.7%
2021Operating margin14.9%
2022Operating margin15.2%
2023Operating margin17.2%
2024Operating margin19.3%
2025Operating margin12.1%
2016Net margin3.8%
2017Net margin-0.9%
2018Net margin8.8%
2021Net margin14.5%
2022Net margin10.1%
2023Net margin13.9%
2024Net margin13.2%
2025Net margin10.4%
2016Free cash flow margin-16.4%
2017Free cash flow margin-24%
2018Free cash flow margin6.8%
2021Free cash flow margin-19%
2022Free cash flow margin-39.4%
2023Free cash flow margin-24.6%
2024Free cash flow margin8.9%
2025Free cash flow margin-7.4%

Operating cash flow

Cash generated by the company’s normal business operations.

USD -10.3M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.170.7M104.6M38.6M-27.5M-93.5M201620222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow-3702000
2017Operating cash flow-8101000
2018Operating cash flow6909000
2021Operating cash flow-40093000
2022Operating cash flow-62194000
2023Operating cash flow-75323000
2024Operating cash flow152450000
2025Operating cash flow-10325000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -66.6M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.87.8M23.1M-41.7M-106.4M-171.2M201620222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow-4497000
2017Free cash flow-8752000
2018Free cash flow5079000
2021Free cash flow-49246000
2022Free cash flow-153288000
2023Free cash flow-137199000
2024Free cash flow69987000
2025Free cash flow-66608000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

32.8% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.58%44%29%15%0%201620222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets53.9%
2017Liabilities / assets41.3%
2018Liabilities / assets49.2%
2021-12-31Liabilities / assetsNot reportedNo source recorded
2022Liabilities / assets34.3%
2023Liabilities / assets37.9%
2024Liabilities / assets40.9%
2025Liabilities / assets32.8%

Current assets to current liabilities

Current assets divided by current liabilities.

3.27× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.53×2.65×1.76×0.88×0.00×201620222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities2.36×
2017Current assets / current liabilities2.88×
2018Current assets / current liabilities2.08×
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022Current assets / current liabilities2.43×
2023Current assets / current liabilities2.35×
2024Current assets / current liabilities2.31×
2025Current assets / current liabilities3.27×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 1.03 million
Exact value

Exact value: 1031000 USD

2016-01-01 – 2016-12-31: 1031000 USD Inspect Net Income Open source
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−USD 3.7 million
Exact value

Exact value: -3702000 USD

2016-01-01 – 2016-12-31: -3702000 USD Inspect Operating Cash Flow Open source
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USD 795,000
Exact value

Exact value: 795000 USD

2016-01-01 – 2016-12-31: 795000 USD Inspect Capital Expenditure Open source
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−USD 4.5 million
Calculation and evidence

-3702000 − 795000 USD

Exact free cash flow: -4497000 USD

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2017 2017-01-01 – 2017-12-31
−USD 318,000
Exact value

Exact value: -318000 USD

2017-01-01 – 2017-12-31: -318000 USD Inspect Net Income Open source
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−USD 8.1 million
Exact value

Exact value: -8101000 USD

2017-01-01 – 2017-12-31: -8101000 USD Inspect Operating Cash Flow Open source
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USD 651,000
Exact value

Exact value: 651000 USD

2017-01-01 – 2017-12-31: 651000 USD Inspect Capital Expenditure Open source
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−USD 8.75 million
Calculation and evidence

-8101000 − 651000 USD

Exact free cash flow: -8752000 USD

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2018 2018-01-01 – 2018-12-31
USD 6.57 million
Exact value

Exact value: 6574000 USD

2018-01-01 – 2018-12-31: 6574000 USD Inspect Net Income Open source
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USD 6.91 million
Exact value

Exact value: 6909000 USD

2018-01-01 – 2018-12-31: 6909000 USD Inspect Operating Cash Flow Open source
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USD 1.83 million
Exact value

Exact value: 1830000 USD

2018-01-01 – 2018-12-31: 1830000 USD Inspect Capital Expenditure Open source
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USD 5.08 million
Calculation and evidence

6909000 − 1830000 USD

Exact free cash flow: 5079000 USD

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2021 2021-01-01 – 2021-12-31
USD 37.76 million
Exact value

Exact value: 37757000 USD

2021-01-01 – 2021-12-31: 37757000 USD Inspect Net Income Open source
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−USD 40.09 million
Exact value

Exact value: -40093000 USD

2021-01-01 – 2021-12-31: -40093000 USD Inspect Operating Cash Flow Open source
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USD 9.15 million
Exact value

Exact value: 9153000 USD

2021-01-01 – 2021-12-31: 9153000 USD Inspect Capital Expenditure Open source
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−USD 49.25 million
Calculation and evidence

-40093000 − 9153000 USD

Exact free cash flow: -49246000 USD

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2022 2022-01-01 – 2022-12-31
USD 39.26 million
Exact value

Exact value: 39263000 USD

2022-01-01 – 2022-12-31: 39263000 USD Inspect Net Income Open source
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−USD 62.19 million
Exact value

Exact value: -62194000 USD

2022-01-01 – 2022-12-31: -62194000 USD Inspect Operating Cash Flow Open source
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USD 91.09 million
Exact value

Exact value: 91094000 USD

2022-01-01 – 2022-12-31: 91094000 USD Inspect Capital Expenditure Open source
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−USD 153.29 million
Calculation and evidence

-62194000 − 91094000 USD

Exact free cash flow: -153288000 USD

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2023 2023-01-01 – 2023-12-31
USD 77.35 million
Exact value

Exact value: 77349000 USD

2023-01-01 – 2023-12-31: 77349000 USD Inspect Net Income Open source
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−USD 75.32 million
Exact value

Exact value: -75323000 USD

2023-01-01 – 2023-12-31: -75323000 USD Inspect Operating Cash Flow Open source
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USD 61.88 million
Exact value

Exact value: 61876000 USD

2023-01-01 – 2023-12-31: 61876000 USD Inspect Capital Expenditure Open source
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−USD 137.2 million
Calculation and evidence

-75323000 − 61876000 USD

Exact free cash flow: -137199000 USD

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2024 2024-01-01 – 2024-12-31
USD 103.63 million
Exact value

Exact value: 103627000 USD

2024-01-01 – 2024-12-31: 103627000 USD Inspect Net Income Open source
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USD 152.45 million
Exact value

Exact value: 152450000 USD

2024-01-01 – 2024-12-31: 152450000 USD Inspect Operating Cash Flow Open source
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USD 82.46 million
Exact value

Exact value: 82463000 USD

2024-01-01 – 2024-12-31: 82463000 USD Inspect Capital Expenditure Open source
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USD 69.99 million
Calculation and evidence

152450000 − 82463000 USD

Exact free cash flow: 69987000 USD

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2025 2025-01-01 – 2025-12-31
USD 94.08 million
Exact value

Exact value: 94078000 USD

2025-01-01 – 2025-12-31: 94078000 USD Inspect Net Income Open source
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−USD 10.33 million
Exact value

Exact value: -10325000 USD

2025-01-01 – 2025-12-31: -10325000 USD Inspect Operating Cash Flow Open source
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USD 56.28 million
Exact value

Exact value: 56283000 USD

2025-01-01 – 2025-12-31: 56283000 USD Inspect Capital Expenditure Open source
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−USD 66.61 million
Calculation and evidence

-10325000 − 56283000 USD

Exact free cash flow: -66608000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

71 filings · 3,847 latest values · 3,847 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001680062, 1680062, ACMR, edgar:1680062

Also known as ACM RESEARCH, INC., ACM Research, Inc.