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盛美半导体（ACMR）与Ametek（AME）财务数据对比。点击上方公司名可切换其他公司
Ametek的季度营收约是盛美半导体的8.2倍（$2.0B vs $244.4M）。Ametek净利率更高（19.9% vs 3.3%，领先16.7%）。Ametek同比增速更快（13.4% vs 9.4%）。Ametek自由现金流更多（$527.3M vs $20.1M）。过去两年盛美半导体的营收复合增速更高（26.7% vs 7.3%）
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。
AMETEK Inc.是美国跨国综合企业，为全球知名的电子仪器及机电设备设计商与制造商，总部位于美国，在全球范围内设有超过150个运营站点，业务覆盖多个国家和地区，为各行业客户提供高性能的相关产品及配套解决方案。
ACMR vs AME — 直观对比
营收规模更大
AME
是对方的8.2倍
$244.4M
营收增速更快
AME
高出4.1%
9.4%
净利率更高
AME
高出16.7%
3.3%
自由现金流更多
AME
多$507.2M
$20.1M
两年增速更快
ACMR
近两年复合增速
7.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $2.0B |
| 净利润 | $8.0M | $398.6M |
| 毛利率 | 40.9% | 36.0% |
| 营业利润率 | 9.4% | 25.3% |
| 净利率 | 3.3% | 19.9% |
| 营收同比 | 9.4% | 13.4% |
| 净利润同比 | -74.1% | 2.9% |
| 每股收益（稀释后） | $0.11 | $1.73 |
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ACMRAME
| Q4 25 | $244.4M | $2.0B | ||
| Q3 25 | $269.2M | $1.9B | ||
| Q2 25 | $215.4M | $1.8B | ||
| Q1 25 | $172.3M | $1.7B | ||
| Q4 24 | $223.5M | $1.8B | ||
| Q3 24 | $204.0M | $1.7B | ||
| Q2 24 | $202.5M | $1.7B | ||
| Q1 24 | $152.2M | $1.7B |
净利润ACMRAME
| Q4 25 | $8.0M | $398.6M | ||
| Q3 25 | $35.9M | $371.4M | ||
| Q2 25 | $29.8M | $358.4M | ||
| Q1 25 | $20.4M | $351.8M | ||
| Q4 24 | $31.1M | $387.3M | ||
| Q3 24 | $30.9M | $340.2M | ||
| Q2 24 | $24.2M | $337.7M | ||
| Q1 24 | $17.4M | $310.9M |
毛利率ACMRAME
| Q4 25 | 40.9% | 36.0% | ||
| Q3 25 | 42.0% | 36.3% | ||
| Q2 25 | 48.5% | 35.8% | ||
| Q1 25 | 47.9% | 36.1% | ||
| Q4 24 | 49.6% | 36.6% | ||
| Q3 24 | 51.4% | 36.0% | ||
| Q2 24 | 47.8% | 36.0% | ||
| Q1 24 | 52.0% | 34.1% |
营业利润率ACMRAME
| Q4 25 | 9.4% | 25.3% | ||
| Q3 25 | 10.7% | 25.8% | ||
| Q2 25 | 14.7% | 26.0% | ||
| Q1 25 | 15.0% | 26.3% | ||
| Q4 24 | 19.7% | 26.6% | ||
| Q3 24 | 21.7% | 26.1% | ||
| Q2 24 | 18.6% | 25.8% | ||
| Q1 24 | 16.6% | 24.0% |
净利率ACMRAME
| Q4 25 | 3.3% | 19.9% | ||
| Q3 25 | 13.3% | 19.6% | ||
| Q2 25 | 13.8% | 20.2% | ||
| Q1 25 | 11.8% | 20.3% | ||
| Q4 24 | 13.9% | 22.0% | ||
| Q3 24 | 15.2% | 19.9% | ||
| Q2 24 | 12.0% | 19.5% | ||
| Q1 24 | 11.5% | 17.9% |
每股收益（稀释后）ACMRAME
| Q4 25 | $0.11 | $1.73 | ||
| Q3 25 | $0.52 | $1.60 | ||
| Q2 25 | $0.44 | $1.55 | ||
| Q1 25 | $0.30 | $1.52 | ||
| Q4 24 | $0.47 | $1.67 | ||
| Q3 24 | $0.45 | $1.47 | ||
| Q2 24 | $0.35 | $1.45 | ||
| Q1 24 | $0.26 | $1.34 |
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 | $458.0M |
| 总债务越低越好 | $214.0M | $2.3B |
| 股东权益账面价值 | $1.5B | $10.6B |
| 总资产 | $2.9B | $16.1B |
| 负债/权益比越低杠杆越低 | 0.15× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资ACMRAME
| Q4 25 | $792.9M | $458.0M | ||
| Q3 25 | $1.1B | $439.2M | ||
| Q2 25 | $463.2M | $619.7M | ||
| Q1 25 | $475.6M | $399.0M | ||
| Q4 24 | $426.8M | $374.0M | ||
| Q3 24 | $353.8M | $396.3M | ||
| Q2 24 | $343.6M | $396.6M | ||
| Q1 24 | $230.0M | $373.8M |
总债务ACMRAME
| Q4 25 | $214.0M | $2.3B | ||
| Q3 25 | $242.0M | — | ||
| Q2 25 | $225.1M | — | ||
| Q1 25 | $202.5M | — | ||
| Q4 24 | $150.0M | $2.1B | ||
| Q3 24 | $150.0M | — | ||
| Q2 24 | $90.5M | — | ||
| Q1 24 | $60.0M | — |
股东权益ACMRAME
| Q4 25 | $1.5B | $10.6B | ||
| Q3 25 | $1.4B | $10.5B | ||
| Q2 25 | $986.5M | $10.4B | ||
| Q1 25 | $949.1M | $10.0B | ||
| Q4 24 | $904.6M | $9.7B | ||
| Q3 24 | $888.2M | $9.6B | ||
| Q2 24 | $833.2M | $9.3B | ||
| Q1 24 | $796.2M | $9.0B |
总资产ACMRAME
| Q4 25 | $2.9B | $16.1B | ||
| Q3 25 | $2.8B | $16.2B | ||
| Q2 25 | $2.0B | $15.3B | ||
| Q1 25 | $1.9B | $14.9B | ||
| Q4 24 | $1.9B | $14.6B | ||
| Q3 24 | $1.8B | $14.8B | ||
| Q2 24 | $1.7B | $14.8B | ||
| Q1 24 | $1.6B | $14.9B |
负债/权益比ACMRAME
| Q4 25 | 0.15× | 0.21× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | 0.17× | 0.22× | ||
| 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 | $584.3M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $527.3M |
| 自由现金流率自由现金流/营收 | 8.2% | 26.4% |
| 资本支出强度资本支出/营收 | 5.6% | 2.9% |
| 现金转化率经营现金流/净利润 | 4.21× | 1.47× |
| 过去12个月自由现金流最近4个季度 | $-66.6M | $1.7B |
8季度趋势，按日历期对齐
经营现金流ACMRAME
| Q4 25 | $33.9M | $584.3M | ||
| Q3 25 | $-4.6M | $440.9M | ||
| Q2 25 | $-44.9M | $359.1M | ||
| Q1 25 | $5.3M | $417.5M | ||
| Q4 24 | $88.6M | $550.0M | ||
| Q3 24 | $11.9M | $487.2M | ||
| Q2 24 | $61.6M | $381.4M | ||
| Q1 24 | $-9.6M | $410.2M |
自由现金流ACMRAME
| Q4 25 | $20.1M | $527.3M | ||
| Q3 25 | $-15.6M | $420.0M | ||
| Q2 25 | $-59.6M | $329.8M | ||
| Q1 25 | $-11.4M | $394.5M | ||
| Q4 24 | $77.2M | $498.3M | ||
| Q3 24 | $-20.6M | $460.9M | ||
| Q2 24 | $48.5M | $360.0M | ||
| Q1 24 | $-35.1M | $382.6M |
自由现金流率ACMRAME
| Q4 25 | 8.2% | 26.4% | ||
| Q3 25 | -5.8% | 22.2% | ||
| Q2 25 | -27.7% | 18.5% | ||
| Q1 25 | -6.6% | 22.8% | ||
| Q4 24 | 34.5% | 28.3% | ||
| Q3 24 | -10.1% | 27.0% | ||
| Q2 24 | 24.0% | 20.8% | ||
| Q1 24 | -23.0% | 22.0% |
资本支出强度ACMRAME
| Q4 25 | 5.6% | 2.9% | ||
| Q3 25 | 4.1% | 1.1% | ||
| Q2 25 | 6.8% | 1.6% | ||
| Q1 25 | 9.7% | 1.3% | ||
| Q4 24 | 5.1% | 2.9% | ||
| Q3 24 | 16.0% | 1.5% | ||
| Q2 24 | 6.5% | 1.2% | ||
| Q1 24 | 16.7% | 1.6% |
现金转化率ACMRAME
| Q4 25 | 4.21× | 1.47× | ||
| Q3 25 | -0.13× | 1.19× | ||
| Q2 25 | -1.51× | 1.00× | ||
| Q1 25 | 0.26× | 1.19× | ||
| Q4 24 | 2.85× | 1.42× | ||
| Q3 24 | 0.39× | 1.43× | ||
| Q2 24 | 2.54× | 1.13× | ||
| Q1 24 | -0.55× | 1.32× |
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% |
AME
| Transferred At Point In Time | $1.1B | 54% |
| Electronic Instruments Group | $620.1M | 31% |
| Transferred Over Time | $294.6M | 15% |
