ACM Research (ACMR) FY2020 results: revenue $157 million, up 45.7% on the year
ACM Research, Inc. (ACMR) reported revenue of $157 million for fiscal 2020, the year ended 31 December 2020, up 45.7% on the year before. Net income was $19 million, down 0.6%, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$157 million
+45.7% on the year
FY2016FY2020
Operating margin
13.7%
16.5% a year earlier
FY2016FY2020
Net income
$19 million
-0.6% on the year
FY2016FY2020
Diluted EPS
$0.30
-10.1% on the year
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
157
108
74.6
+45.7%
Cost of revenue
87.0
56.9
40.2
+53.0%
Gross profit
69.6
50.7
34.4
+37.4%
Gross margin
44.4%
47.1%
46.2%
Research and development
19.1
12.9
10.4
+48.2%
Operating income
21.5
17.8
6.5
+20.8%
Operating margin
13.7%
16.5%
8.7%
Interest expense
1.0
0.7
0.5
+31.8%
Pre-tax income
19.3
18.9
7.4
+1.9%
Income tax
-2.4
-0.5
0.8
Effective tax rate
-12.3%
-2.7%
10.9%
Net income
18.8
18.9
6.6
-0.6%
Net margin
12.0%
17.6%
8.8%
Diluted EPS
$0.30
$0.33
$0.12
-10.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-13.5
9.4
6.9
Capital expenditure
5.2
1.0
1.8
+436.7%
Free cash flow
-18.8
8.4
5.1
Free cash flow margin
-12.0%
7.8%
6.8%
Cash from investing
-70.0
-5.5
-2.1
Cash from financing
32.8
87.4
5.1
-62.5%
Depreciation and amortisation
1.1
0.8
0.4
+33.9%
Share-based compensation
5.6
3.6
3.4
+57.6%
Buybacks
0.0
2.8
0.0
Diluted shares, weighted
64m
57m
54m
+10.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
141
97.3
52.3
+45.0%
Non-controlling interest
67.0
0.0
n/a
Redeemable equity
0.0
60.2
0.0
Debt
45.7
13.8
9.4
+232.4%
Operating lease liabilities
2.9
2.5
0.0
+13.7%
Other liabilities
84.5
43.9
41.3
+92.3%
Total liabilities and equity
341
218
103
+56.8%
Fixed assets
8.2
3.6
3.7
+126.4%
Intangible assets
0.6
0.3
0.3
+61.0%
Investments
28.2
0.0
n/a
Cash and equivalents
71.8
58.3
27.1
+23.2%
Receivables
56.4
31.1
24.6
+81.5%
Inventory
88.6
44.8
38.8
+97.9%
Other assets
87.4
79.6
8.6
+9.8%
Total assets
341
218
103
+56.8%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.