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盛美半导体（ACMR）与Automatic Data Processing（ADP）财务数据对比。点击上方公司名可切换其他公司
Automatic Data Processing的季度营收约是盛美半导体的21.9倍（$5.4B vs $244.4M）。Automatic Data Processing净利率更高（19.8% vs 3.3%，领先16.5%）。盛美半导体同比增速更快（9.4% vs 6.2%）。过去两年盛美半导体的营收复合增速更高（26.7% vs 1.0%）
盛美半导体（ACM Research, Inc.）是全球领先的半导体制造设备供应商，专注于研发、生产及销售晶圆湿法处理相关设备，覆盖清洗、电镀、刻蚀等品类，产品广泛应用于逻辑、存储、功率等各类先进芯片的生产流程，服务全球多地区芯片制造企业。
ADP是总部位于美国新泽西州罗斯兰的跨国企业，为全球各行业客户提供云基人力资源管理、薪资核算处理、专业雇主组织（PEO）等领域的专业服务，是全球人力资源服务领域的知名头部供应商。
ACMR vs ADP — 直观对比
营收规模更大
ADP
是对方的21.9倍
$244.4M
营收增速更快
ACMR
高出3.2%
6.2%
净利率更高
ADP
高出16.5%
3.3%
两年增速更快
ACMR
近两年复合增速
1.0%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $5.4B |
| 净利润 | $8.0M | $1.1B |
| 毛利率 | 40.9% | 46.1% |
| 营业利润率 | 9.4% | 25.8% |
| 净利率 | 3.3% | 19.8% |
| 营收同比 | 9.4% | 6.2% |
| 净利润同比 | -74.1% | 10.3% |
| 每股收益（稀释后） | $0.11 | $2.62 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ACMRADP
| Q4 25 | $244.4M | $5.4B | ||
| Q3 25 | $269.2M | $5.2B | ||
| Q2 25 | $215.4M | $5.1B | ||
| Q1 25 | $172.3M | $5.6B | ||
| Q4 24 | $223.5M | $5.0B | ||
| Q3 24 | $204.0M | $4.8B | ||
| Q2 24 | $202.5M | $4.8B | ||
| Q1 24 | $152.2M | $5.3B |
净利润ACMRADP
| Q4 25 | $8.0M | $1.1B | ||
| Q3 25 | $35.9M | $1.0B | ||
| Q2 25 | $29.8M | $910.7M | ||
| Q1 25 | $20.4M | $1.2B | ||
| Q4 24 | $31.1M | $963.2M | ||
| Q3 24 | $30.9M | $956.3M | ||
| Q2 24 | $24.2M | $829.3M | ||
| Q1 24 | $17.4M | $1.2B |
毛利率ACMRADP
| Q4 25 | 40.9% | 46.1% | ||
| Q3 25 | 42.0% | 45.2% | ||
| Q2 25 | 48.5% | 45.1% | ||
| Q1 25 | 47.9% | 47.7% | ||
| Q4 24 | 49.6% | 45.7% | ||
| Q3 24 | 51.4% | 45.5% | ||
| Q2 24 | 47.8% | 44.8% | ||
| Q1 24 | 52.0% | 47.3% |
营业利润率ACMRADP
| Q4 25 | 9.4% | 25.8% | ||
| Q3 25 | 10.7% | 25.3% | ||
| Q2 25 | 14.7% | 23.2% | ||
| Q1 25 | 15.0% | 29.2% | ||
| Q4 24 | 19.7% | 25.0% | ||
| Q3 24 | 21.7% | 25.6% | ||
| Q2 24 | 18.6% | 22.8% | ||
| Q1 24 | 16.6% | 29.4% |
净利率ACMRADP
| Q4 25 | 3.3% | 19.8% | ||
| Q3 25 | 13.3% | 19.6% | ||
| Q2 25 | 13.8% | 17.8% | ||
| Q1 25 | 11.8% | 22.5% | ||
| Q4 24 | 13.9% | 19.1% | ||
| Q3 24 | 15.2% | 19.8% | ||
| Q2 24 | 12.0% | 17.4% | ||
| Q1 24 | 11.5% | 22.6% |
每股收益（稀释后）ACMRADP
| Q4 25 | $0.11 | $2.62 | ||
| Q3 25 | $0.52 | $2.49 | ||
| Q2 25 | $0.44 | $2.23 | ||
| Q1 25 | $0.30 | $3.06 | ||
| Q4 24 | $0.47 | $2.35 | ||
| Q3 24 | $0.45 | $2.34 | ||
| Q2 24 | $0.35 | $2.01 | ||
| Q1 24 | $0.26 | $2.88 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $792.9M | $2.5B |
| 总债务越低越好 | $214.0M | — |
| 股东权益账面价值 | $1.5B | $6.4B |
| 总资产 | $2.9B | $84.6B |
| 负债/权益比越低杠杆越低 | 0.15× | — |
8季度趋势，按日历期对齐
现金及短期投资ACMRADP
| Q4 25 | $792.9M | $2.5B | ||
| Q3 25 | $1.1B | $7.9B | ||
| Q2 25 | $463.2M | $7.8B | ||
| Q1 25 | $475.6M | $2.7B | ||
| Q4 24 | $426.8M | $2.2B | ||
| Q3 24 | $353.8M | $7.3B | ||
| Q2 24 | $343.6M | $3.3B | ||
| Q1 24 | $230.0M | $3.3B |
总债务ACMRADP
| Q4 25 | $214.0M | — | ||
| Q3 25 | $242.0M | — | ||
| Q2 25 | $225.1M | — | ||
| Q1 25 | $202.5M | — | ||
| Q4 24 | $150.0M | — | ||
| Q3 24 | $150.0M | — | ||
| Q2 24 | $90.5M | — | ||
| Q1 24 | $60.0M | — |
股东权益ACMRADP
| Q4 25 | $1.5B | $6.4B | ||
| Q3 25 | $1.4B | $6.4B | ||
| Q2 25 | $986.5M | $6.2B | ||
| Q1 25 | $949.1M | $5.9B | ||
| Q4 24 | $904.6M | $5.1B | ||
| Q3 24 | $888.2M | $5.3B | ||
| Q2 24 | $833.2M | $4.5B | ||
| Q1 24 | $796.2M | $4.6B |
总资产ACMRADP
| Q4 25 | $2.9B | $84.6B | ||
| Q3 25 | $2.8B | $54.3B | ||
| Q2 25 | $2.0B | $53.4B | ||
| Q1 25 | $1.9B | $56.4B | ||
| Q4 24 | $1.9B | $64.1B | ||
| Q3 24 | $1.8B | $49.5B | ||
| Q2 24 | $1.7B | $54.4B | ||
| Q1 24 | $1.6B | $64.2B |
负债/权益比ACMRADP
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | 0.17× | — | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.11× | — | ||
| Q1 24 | 0.08× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $33.9M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $20.1M | — |
| 自由现金流率自由现金流/营收 | 8.2% | — |
| 资本支出强度资本支出/营收 | 5.6% | — |
| 现金转化率经营现金流/净利润 | 4.21× | 1.07× |
| 过去12个月自由现金流最近4个季度 | $-66.6M | — |
8季度趋势，按日历期对齐
经营现金流ACMRADP
| Q4 25 | $33.9M | $1.1B | ||
| Q3 25 | $-4.6M | $642.3M | ||
| Q2 25 | $-44.9M | $1.4B | ||
| Q1 25 | $5.3M | $1.5B | ||
| Q4 24 | $88.6M | $1.2B | ||
| Q3 24 | $11.9M | $824.4M | ||
| Q2 24 | $61.6M | $1.3B | ||
| Q1 24 | $-9.6M | $1.5B |
自由现金流ACMRADP
| Q4 25 | $20.1M | — | ||
| Q3 25 | $-15.6M | — | ||
| Q2 25 | $-59.6M | — | ||
| Q1 25 | $-11.4M | — | ||
| Q4 24 | $77.2M | — | ||
| Q3 24 | $-20.6M | — | ||
| Q2 24 | $48.5M | — | ||
| Q1 24 | $-35.1M | — |
自由现金流率ACMRADP
| Q4 25 | 8.2% | — | ||
| Q3 25 | -5.8% | — | ||
| Q2 25 | -27.7% | — | ||
| Q1 25 | -6.6% | — | ||
| Q4 24 | 34.5% | — | ||
| Q3 24 | -10.1% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | -23.0% | — |
资本支出强度ACMRADP
| Q4 25 | 5.6% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | 6.8% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 16.0% | — | ||
| Q2 24 | 6.5% | — | ||
| Q1 24 | 16.7% | — |
现金转化率ACMRADP
| Q4 25 | 4.21× | 1.07× | ||
| Q3 25 | -0.13× | 0.63× | ||
| Q2 25 | -1.51× | 1.58× | ||
| Q1 25 | 0.26× | 1.22× | ||
| Q4 24 | 2.85× | 1.19× | ||
| Q3 24 | 0.39× | 0.86× | ||
| Q2 24 | 2.54× | 1.57× | ||
| Q1 24 | -0.55× | 1.26× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ACMR
| Total Single Wafer And Semi Critical Cleaning Equipment | $159.9M | 65% |
| ECP Front End And Packaging Furnace And Other Technologies | $64.1M | 26% |
| Advanced Packaging Exclude ECP Services Spares | $20.5M | 8% |
ADP
| HCM | $2.2B | 42% |
| PEO Zero Margin Benefits Pass Throughs | $1.1B | 21% |
| HRO | $979.3M | 18% |
| Global | $709.3M | 13% |
| Interest On Funds Held For Clients | $308.6M | 6% |
