Recent News
On August 7, 2026 ACM announced expansion of the Ultra C Tahoe into a multi-process wet‑processing platform, adding new process applications for logic and memory device manufacturing; the same date’s releases included a first production order and an evaluation order for the Ultra ECP horizontal panel electroplating tool. The company also posted an investor presentation in mid‑June highlighting product portfolio updates and commercialization plans.
Technical Analysis
Directional strength measured by ADX sits at 10.81, below 20, indicating no established trend; that lack of a defined trend limits conviction for large directional moves relative to the current valuation and supports a near-term neutral price bias.
DI+ shows a peak-and-reversal pattern, which constitutes a bearish directional signal, while DI- is decreasing, which constitutes a bullish directional signal; those opposing DI signals create a read‑through of short-term directional indecision, increasing the probability of range trade against the valuation backdrop.
MACD reads -2.04 with a peak-and-reversal trend, indicating bearish momentum; however MACD currently sits above its signal line (-2.34), which presents a short-lived bullish crossover signal within an otherwise weakening momentum profile.
MRO sits at -3.96 with a peak-and-reversal trend, indicating price currently below the model target and therefore potential upside pressure to re-align with target levels; that potential contrasts with other momentum signals and supports limited mean‑reversion risk.
RSI at 48.31 with a peak-and-reversal trend remains near neutral, signaling neither overbought nor oversold conditions while momentum shows recent topping behavior; volatility measures — 42‑day beta 5.24 and 52‑week beta 3.80 — indicate materially higher intramarket sensitivity and support expectations for wide intraday and multi‑week swings.
Price sits below the 20‑day average ($80.92) and 50‑day average ($90.67) but above the 200‑day average ($61.15), a configuration that favors short-term weakness inside a longer-term uptrend; Bollinger bands remain narrow around current price ranges, signaling compressed volatility that can precede directional expansion once momentum confirms.
Fundamental Analysis
Revenue for the period totals $292,919,000 with revenue growth at 26.66% and year‑over‑year revenue growth of 6.80%, reflecting recent top‑line expansion while QoQ dynamics show higher variability. Gross margin equals 45.96%, slightly below the industry peer mean of 53.53% and median of 53.99%, suggesting room to improve product mix or cost structure versus peers.
EBIT equals $137,781,000 and EBIT margin at 47.04% sits above the industry peer mean of 37.94% and above the industry peer high of 44.37%, indicating strong operating profitability on reported results. EBITDA equals $144,081,000 and interest coverage at 66.92x provides ample buffer relative to nominal debt levels (total debt $349,319,000, debt to assets 10.28%).
Earnings per share came in at $0.61 versus an estimate of $0.34, an EPS surprise of 79.41% (difference $0.27). Earnings growth measures show 79.41% year‑over‑year and 120.59% quarter‑over‑quarter on the supplied growth metrics, reflecting rapid earnings expansion that supports the firm’s operational narrative. The company reported second‑quarter results and related disclosures on August 7, 2026 that accompany these figures.
Liquidity metrics remain robust: cash and short‑term investments total $1,439,375,000, current ratio 3.66, quick ratio 2.66 and cash ratio 1.83, supporting execution of product rollouts and order fulfillment without reliance on incremental debt. Free cash flow stands at -$71,709,000 and free cash flow yield at -1.24%, indicating near-term cash conversion lag despite strong reported earnings and sizable cash balances.
Valuation metrics present clear tension with fundamentals. Price/earnings at 135.64 and price/sales at 19.67 reflect market expectations already priced into equity; WMDST values the stock as over‑valued. P/B at 3.10 sits materially below the industry peer mean of 24.51 and median of 29.29, while forward PE near 112.46 and enterprise multiple 32.43 underscore a premium relative to typical asset and cash‑flow multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 894.1 M |
| Operating Cash Flow | $ -6.36 M | |
| Capital Expenditures | $ -65.35 M | |
| Change In Working Capital | $ -67.38 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 96.5 M | |
| End Period Cash Flow | $ 990.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 292.9 M | |
| Forward Revenue | $ 38.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 158.3 M | |
| Depreciation | $ 6.3 M | |
| Depreciation and Amortization | $ 6.3 M | |
| Research and Development | $ 42.3 M | |
| Total Operating Expenses | $ 243.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 134.6 M | |
| EBITDA | $ 144.1 M | |
| EBIT | $ 137.8 M | |
| Operating Income | $ 49.7 M | |
| Interest Income | $ 7.1 M | |
| Interest Expense | $ 2.1 M | |
| Net Interest Income | $ 5.1 M | |
| Income Before Tax | $ 135.7 M | |
| Tax Provision | $ 13.5 M | |
| Tax Rate | 9.926 % | |
| Net Income | $ 89.0 M | |
| Net Income From Continuing Operations | $ 122.2 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.34 | |
| EPS Actual | $ 0.61 | |
| EPS Difference | $ 0.27 | |
| EPS Surprise | 79.412 % | |
| Forward EPS | $ 0.68 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 3.4 B | |
| Intangible Assets | $ 2.5 M | |
| Net Tangible Assets | $ 1.9 B | |
| Total Current Assets | $ 2.9 B | |
| Cash and Short-Term Investments | $ 1.4 B | |
| Cash | $ 969.2 M | |
| Net Receivables | $ 538.4 M | |
| Inventory | $ 783.1 M | |
| Long-Term Investments | $ 5.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 220.6 M | |
| Short-Term Debt | $ 148.0 M | |
| Total Current Liabilities | $ 786.3 M | |
| Net Debt | — | |
| Total Debt | $ 349.3 M | |
| Total Liabilities | $ 994.1 M | |
| EQUITY | ||
| Total Equity | $ 1.9 B | |
| Retained Earnings | $ 456.7 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 26.71 | |
| Shares Outstanding | 69.643 M | |
| Revenue Per-Share | $ 4.21 | |
| VALUATION | Market Capitalization | $ 5.8 B |
| Enterprise Value | $ 4.7 B | |
| Enterprise Multiple | 32.429 | |
| Enterprise Multiple QoQ | -48.474 % | |
| Enterprise Multiple YoY | -7.466 % | |
| Enterprise Multiple IPRWA | high: 204.721 median: 161.974 mean: 148.947 ACMR: 32.429 low: -293.876 |
|
| EV/R | 15.951 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.827 | |
| Asset To Liability | 3.419 | |
| Debt To Capital | 0.158 | |
| Debt To Assets | 0.103 | |
| Debt To Assets QoQ | -6.531 % | |
| Debt To Assets YoY | -27.064 % | |
| Debt To Assets IPRWA | high: 0.423 median: 0.159 mean: 0.15 ACMR: 0.103 low: 0.002 |
|
| Debt To Equity | 0.188 | |
| Debt To Equity QoQ | -11.889 % | |
| Debt To Equity YoY | -35.538 % | |
| Debt To Equity IPRWA | high: 1.213 mean: 0.333 median: 0.299 ACMR: 0.188 low: -0.075 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.098 | |
| Price To Book QoQ | 49.265 % | |
| Price To Book YoY | 77.376 % | |
| Price To Book IPRWA | high: 31.988 median: 29.291 mean: 24.512 ACMR: 3.098 low: -9.2 |
|
| Price To Earnings (P/E) | 135.644 | |
| Price To Earnings QoQ | -6.962 % | |
| Price To Earnings YoY | 121.062 % | |
| Price To Earnings IPRWA | high: 234.604 median: 202.248 mean: 185.071 ACMR: 135.644 low: -129.292 |
|
| PE/G Ratio | 1.708 | |
| Price To Sales (P/S) | 19.673 | |
| Price To Sales QoQ | 38.61 % | |
| Price To Sales YoY | 145.93 % | |
| Price To Sales IPRWA | high: 145.73 median: 68.545 mean: 59.343 ACMR: 19.673 low: 6.505 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 112.461 | |
| Forward PE/G | 1.416 | |
| Forward P/S | 148.404 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 12.43 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.091 | |
| Asset Turnover Ratio QoQ | 16.331 % | |
| Asset Turnover Ratio YoY | -16.411 % | |
| Asset Turnover Ratio IPRWA | high: 0.342 mean: 0.221 median: 0.203 ACMR: 0.091 low: 0.004 |
|
| Receivables Turnover | 0.55 | |
| Receivables Turnover Ratio QoQ | 22.602 % | |
| Receivables Turnover Ratio YoY | 4.922 % | |
| Receivables Turnover Ratio IPRWA | high: 1.831 mean: 1.469 median: 1.419 low: 0.659 ACMR: 0.55 |
|
| Inventory Turnover | 0.208 | |
| Inventory Turnover Ratio QoQ | 20.885 % | |
| Inventory Turnover Ratio YoY | 18.027 % | |
| Inventory Turnover Ratio IPRWA | high: 2.21 mean: 0.563 median: 0.399 ACMR: 0.208 low: 0.148 |
|
| Days Sales Outstanding (DSO) | 165.868 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 567.451 | |
| Cash Conversion Cycle Days QoQ | 8.251 % | |
| Cash Conversion Cycle Days YoY | -16.351 % | |
| Cash Conversion Cycle Days IPRWA | ACMR: 567.451 high: 554.83 median: 269.15 mean: 231.04 low: 40.819 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.14 | |
| CapEx To Revenue | -0.223 | |
| CapEx To Depreciation | -10.373 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.1 B | |
| Net Invested Capital | $ 2.2 B | |
| Invested Capital | $ 2.2 B | |
| Net Tangible Assets | $ 1.9 B | |
| Net Working Capital | $ 2.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.831 | |
| Current Ratio | 3.656 | |
| Current Ratio QoQ | 4.086 % | |
| Current Ratio YoY | 49.083 % | |
| Current Ratio IPRWA | high: 10.33 ACMR: 3.656 median: 2.508 mean: 2.265 low: 1.334 |
|
| Quick Ratio | 2.66 | |
| Quick Ratio QoQ | 5.439 % | |
| Quick Ratio YoY | 78.976 % | |
| Quick Ratio IPRWA | high: 8.33 ACMR: 2.66 median: 1.804 mean: 1.593 low: 0.804 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 2.424 | |
| Cost Of Debt | 0.54 % | |
| Interest Coverage Ratio | 66.916 | |
| Interest Coverage Ratio QoQ | 304.989 % | |
| Interest Coverage Ratio YoY | 194.534 % | |
| Interest Coverage Ratio IPRWA | high: 150.669 ACMR: 66.916 mean: 53.207 median: 47.739 low: -444.6 |
|
| Operating Cash Flow Ratio | 0.064 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 157.988 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 10.873 % | |
| Revenue Growth | 26.661 % | |
| Revenue Growth QoQ | -594.914 % | |
| Revenue Growth YoY | 6.798 % | |
| Revenue Growth IPRWA | high: 36.183 % ACMR: 26.661 % mean: 9.802 % median: 7.1 % low: -6.721 % |
|
| Earnings Growth | 79.412 % | |
| Earnings Growth QoQ | 120.589 % | |
| Earnings Growth YoY | 70.167 % | |
| Earnings Growth IPRWA | high: 126.667 % ACMR: 79.412 % mean: 15.221 % median: 11.702 % low: -31.148 % |
|
| MARGINS | ||
| Gross Margin | 45.957 % | |
| Gross Margin QoQ | -0.893 % | |
| Gross Margin YoY | -5.249 % | |
| Gross Margin IPRWA | high: 85.054 % median: 53.99 % mean: 53.533 % ACMR: 45.957 % low: 13.903 % |
|
| EBIT Margin | 47.037 % | |
| EBIT Margin QoQ | 240.576 % | |
| EBIT Margin YoY | 153.788 % | |
| EBIT Margin IPRWA | ACMR: 47.037 % high: 44.365 % median: 38.519 % mean: 37.939 % low: -55.266 % |
|
| Return On Sales (ROS) | 16.982 % | |
| Return On Sales QoQ | 8.56 % | |
| Return On Sales YoY | 15.398 % | |
| Return On Sales IPRWA | high: 42.486 % median: 37.057 % mean: 35.725 % ACMR: 16.982 % low: -48.45 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -71.71 M | |
| Free Cash Flow Yield | -1.244 % | |
| Free Cash Flow Yield QoQ | -21.415 % | |
| Free Cash Flow Yield YoY | -64.304 % | |
| Free Cash Flow Yield IPRWA | high: 0.775 % median: 0.294 % mean: 0.239 % ACMR: -1.244 % low: -1.49 % |
|
| Free Cash Growth | 37.971 % | |
| Free Cash Growth QoQ | -110.366 % | |
| Free Cash Growth YoY | -90.694 % | |
| Free Cash Growth IPRWA | high: 185.89 % ACMR: 37.971 % median: 31.318 % mean: 15.354 % low: -217.099 % |
|
| Free Cash To Net Income | -0.806 | |
| Cash Flow Margin | 17.074 % | |
| Cash Flow To Earnings | 0.562 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.753 % | |
| Return On Assets QoQ | 372.213 % | |
| Return On Assets YoY | 83.778 % | |
| Return On Assets IPRWA | high: 10.276 % mean: 7.236 % median: 7.201 % ACMR: 2.753 % low: -7.716 % |
|
| Return On Capital Employed (ROCE) | 5.273 % | |
| Return On Equity (ROE) | 0.048 | |
| Return On Equity QoQ | 337.294 % | |
| Return On Equity YoY | 58.568 % | |
| Return On Equity IPRWA | high: 0.279 mean: 0.148 median: 0.134 ACMR: 0.048 low: -0.171 |
|
| DuPont ROE | 5.171 % | |
| Return On Invested Capital (ROIC) | 5.638 % | |
| Return On Invested Capital QoQ | 285.636 % | |
| Return On Invested Capital YoY | 87.933 % | |
| Return On Invested Capital IPRWA | high: 14.252 % median: 11.665 % mean: 11.135 % ACMR: 5.638 % low: -11.245 % |
|