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盛美半导体（ACMR）与AMTECH SYSTEMS INC（ASYS）财务数据对比。点击上方公司名可切换其他公司
盛美半导体的季度营收约是AMTECH SYSTEMS INC的12.9倍（$244.4M vs $19.0M）。盛美半导体净利率更高（3.3% vs 0.6%，领先2.7%）。盛美半导体同比增速更快（9.4% vs -22.2%）。盛美半导体自由现金流更多（$20.1M vs $3.8M）。过去两年盛美半导体的营收复合增速更高（26.7% vs -13.6%）
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。
Amtech Systems Inc是一家全球领先的热处理及自动化设备制造商，核心产品面向半导体、光伏太阳能、LED生产领域，覆盖焊接、扩散、沉积等工艺设备，主要市场包括北美、东亚及西欧，服务电子元器件、清洁能源制造领域的头部客户。
ACMR vs ASYS — 直观对比
营收规模更大
ACMR
是对方的12.9倍
$19.0M
营收增速更快
ACMR
高出31.6%
-22.2%
净利率更高
ACMR
高出2.7%
0.6%
自由现金流更多
ACMR
多$16.3M
$3.8M
两年增速更快
ACMR
近两年复合增速
-13.6%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $19.0M |
| 净利润 | $8.0M | $108.0K |
| 毛利率 | 40.9% | 44.8% |
| 营业利润率 | 9.4% | 4.1% |
| 净利率 | 3.3% | 0.6% |
| 营收同比 | 9.4% | -22.2% |
| 净利润同比 | -74.1% | -65.4% |
| 每股收益（稀释后） | $0.11 | $0.01 |
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ACMRASYS
| Q4 25 | $244.4M | $19.0M | ||
| Q3 25 | $269.2M | $19.8M | ||
| Q2 25 | $215.4M | $19.6M | ||
| Q1 25 | $172.3M | $15.6M | ||
| Q4 24 | $223.5M | $24.4M | ||
| Q3 24 | $204.0M | $24.1M | ||
| Q2 24 | $202.5M | $26.7M | ||
| Q1 24 | $152.2M | $25.4M |
净利润ACMRASYS
| Q4 25 | $8.0M | $108.0K | ||
| Q3 25 | $35.9M | $1.1M | ||
| Q2 25 | $29.8M | $106.0K | ||
| Q1 25 | $20.4M | $-31.8M | ||
| Q4 24 | $31.1M | $312.0K | ||
| Q3 24 | $30.9M | $-536.0K | ||
| Q2 24 | $24.2M | $438.0K | ||
| Q1 24 | $17.4M | $970.0K |
毛利率ACMRASYS
| Q4 25 | 40.9% | 44.8% | ||
| Q3 25 | 42.0% | 44.4% | ||
| Q2 25 | 48.5% | 46.7% | ||
| Q1 25 | 47.9% | -2.1% | ||
| Q4 24 | 49.6% | 38.4% | ||
| Q3 24 | 51.4% | 40.7% | ||
| Q2 24 | 47.8% | 36.5% | ||
| Q1 24 | 52.0% | 33.2% |
营业利润率ACMRASYS
| Q4 25 | 9.4% | 4.1% | ||
| Q3 25 | 10.7% | 9.3% | ||
| Q2 25 | 14.7% | 4.7% | ||
| Q1 25 | 15.0% | -202.7% | ||
| Q4 24 | 19.7% | 1.4% | ||
| Q3 24 | 21.7% | 0.1% | ||
| Q2 24 | 18.6% | 3.1% | ||
| Q1 24 | 16.6% | 5.4% |
净利率ACMRASYS
| Q4 25 | 3.3% | 0.6% | ||
| Q3 25 | 13.3% | 5.4% | ||
| Q2 25 | 13.8% | 0.5% | ||
| Q1 25 | 11.8% | -204.2% | ||
| Q4 24 | 13.9% | 1.3% | ||
| Q3 24 | 15.2% | -2.2% | ||
| Q2 24 | 12.0% | 1.6% | ||
| Q1 24 | 11.5% | 3.8% |
每股收益（稀释后）ACMRASYS
| Q4 25 | $0.11 | $0.01 | ||
| Q3 25 | $0.52 | $0.08 | ||
| Q2 25 | $0.44 | $0.01 | ||
| Q1 25 | $0.30 | $-2.23 | ||
| Q4 24 | $0.47 | $0.02 | ||
| Q3 24 | $0.45 | $-0.04 | ||
| Q2 24 | $0.35 | $0.03 | ||
| Q1 24 | $0.26 | $0.07 |
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 | $22.1M |
| 总债务越低越好 | $214.0M | $162.0K |
| 股东权益账面价值 | $1.5B | $54.1M |
| 总资产 | $2.9B | $94.1M |
| 负债/权益比越低杠杆越低 | 0.15× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资ACMRASYS
| Q4 25 | $792.9M | $22.1M | ||
| Q3 25 | $1.1B | $17.9M | ||
| Q2 25 | $463.2M | $15.6M | ||
| Q1 25 | $475.6M | $13.4M | ||
| Q4 24 | $426.8M | $13.2M | ||
| Q3 24 | $353.8M | $11.1M | ||
| Q2 24 | $343.6M | $13.2M | ||
| Q1 24 | $230.0M | $13.0M |
总债务ACMRASYS
| Q4 25 | $214.0M | $162.0K | ||
| Q3 25 | $242.0M | $168.0K | ||
| Q2 25 | $225.1M | $127.0K | ||
| Q1 25 | $202.5M | $135.0K | ||
| Q4 24 | $150.0M | $161.0K | ||
| Q3 24 | $150.0M | $189.0K | ||
| Q2 24 | $90.5M | $177.0K | ||
| Q1 24 | $60.0M | $65.0K |
股东权益ACMRASYS
| Q4 25 | $1.5B | $54.1M | ||
| Q3 25 | $1.4B | $53.4M | ||
| Q2 25 | $986.5M | $51.7M | ||
| Q1 25 | $949.1M | $51.0M | ||
| Q4 24 | $904.6M | $82.4M | ||
| Q3 24 | $888.2M | $82.4M | ||
| Q2 24 | $833.2M | $81.7M | ||
| Q1 24 | $796.2M | $80.9M |
总资产ACMRASYS
| Q4 25 | $2.9B | $94.1M | ||
| Q3 25 | $2.8B | $92.9M | ||
| Q2 25 | $2.0B | $89.5M | ||
| Q1 25 | $1.9B | $83.4M | ||
| Q4 24 | $1.9B | $117.8M | ||
| Q3 24 | $1.8B | $119.3M | ||
| Q2 24 | $1.7B | $127.1M | ||
| Q1 24 | $1.6B | $116.5M |
负债/权益比ACMRASYS
| Q4 25 | 0.15× | 0.00× | ||
| Q3 25 | 0.17× | 0.00× | ||
| Q2 25 | 0.23× | 0.00× | ||
| Q1 25 | 0.21× | 0.00× | ||
| Q4 24 | 0.17× | 0.00× | ||
| Q3 24 | 0.17× | 0.00× | ||
| Q2 24 | 0.11× | 0.00× | ||
| Q1 24 | 0.08× | 0.00× |
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 | $4.1M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $3.8M |
| 自由现金流率自由现金流/营收 | 8.2% | 20.2% |
| 资本支出强度资本支出/营收 | 5.6% | 1.5% |
| 现金转化率经营现金流/净利润 | 4.21× | 37.99× |
| 过去12个月自由现金流最近4个季度 | $-66.6M | $8.0M |
8季度趋势，按日历期对齐
经营现金流ACMRASYS
| Q4 25 | $33.9M | $4.1M | ||
| Q3 25 | $-4.6M | $2.3M | ||
| Q2 25 | $-44.9M | $2.5M | ||
| Q1 25 | $5.3M | $210.0K | ||
| Q4 24 | $88.6M | $2.9M | ||
| Q3 24 | $11.9M | $879.0K | ||
| Q2 24 | $61.6M | $3.7M | ||
| Q1 24 | $-9.6M | $336.0K |
自由现金流ACMRASYS
| Q4 25 | $20.1M | $3.8M | ||
| Q3 25 | $-15.6M | $2.0M | ||
| Q2 25 | $-59.6M | $2.0M | ||
| Q1 25 | $-11.4M | $201.0K | ||
| Q4 24 | $77.2M | $2.7M | ||
| Q3 24 | $-20.6M | $447.0K | ||
| Q2 24 | $48.5M | $322.0K | ||
| Q1 24 | $-35.1M | $-884.0K |
自由现金流率ACMRASYS
| Q4 25 | 8.2% | 20.2% | ||
| Q3 25 | -5.8% | 10.2% | ||
| Q2 25 | -27.7% | 10.1% | ||
| Q1 25 | -6.6% | 1.3% | ||
| Q4 24 | 34.5% | 11.2% | ||
| Q3 24 | -10.1% | 1.9% | ||
| Q2 24 | 24.0% | 1.2% | ||
| Q1 24 | -23.0% | -3.5% |
资本支出强度ACMRASYS
| Q4 25 | 5.6% | 1.5% | ||
| Q3 25 | 4.1% | 1.2% | ||
| Q2 25 | 6.8% | 2.8% | ||
| Q1 25 | 9.7% | 0.1% | ||
| Q4 24 | 5.1% | 0.6% | ||
| Q3 24 | 16.0% | 1.8% | ||
| Q2 24 | 6.5% | 12.5% | ||
| Q1 24 | 16.7% | 4.8% |
现金转化率ACMRASYS
| Q4 25 | 4.21× | 37.99× | ||
| Q3 25 | -0.13× | 2.12× | ||
| Q2 25 | -1.51× | 23.89× | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 2.85× | 9.19× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 2.54× | 8.35× | ||
| Q1 24 | -0.55× | 0.35× |
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% |
ASYS
| Thermal Processing Solutions | $14.0M | 74% |
| Semiconductor Fabrication Solutions | $5.0M | 26% |
