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盛美半导体（ACMR）与Azenta, Inc.（AZTA）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Azenta, Inc.的1.6倍（$244.4M vs $148.6M）。盛美半导体净利率更高（3.3% vs -10.4%，领先13.7%）。盛美半导体同比增速更快（9.4% vs 0.8%）。盛美半导体自由现金流更多（$20.1M vs $14.7M）。过去两年盛美半导体的营收复合增速更高（26.7% vs 4.4%）
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。
Azenta成立于1978年，总部位于美国马萨诸塞州切姆斯福德，是全球知名的生命科学服务提供商，核心业务覆盖基因组学、低温存储、自动化解决方案及信息学服务，为生命科学领域研究及产业客户提供专业技术支持。
ACMR vs AZTA — 直观对比
营收规模更大
ACMR
是对方的1.6倍
$148.6M
营收增速更快
ACMR
高出8.6%
0.8%
净利率更高
ACMR
高出13.7%
-10.4%
自由现金流更多
ACMR
多$5.5M
$14.7M
两年增速更快
ACMR
近两年复合增速
4.4%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $148.6M |
| 净利润 | $8.0M | $-15.4M |
| 毛利率 | 40.9% | 42.9% |
| 营业利润率 | 9.4% | -4.9% |
| 净利率 | 3.3% | -10.4% |
| 营收同比 | 9.4% | 0.8% |
| 净利润同比 | -74.1% | -15.7% |
| 每股收益（稀释后） | $0.11 | $-0.34 |
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ACMRAZTA
| Q4 25 | $244.4M | $148.6M | ||
| Q3 25 | $269.2M | $159.2M | ||
| Q2 25 | $215.4M | $143.9M | ||
| Q1 25 | $172.3M | $143.3M | ||
| Q4 24 | $223.5M | $147.4M | ||
| Q3 24 | $204.0M | $150.6M | ||
| Q2 24 | $202.5M | $144.3M | ||
| Q1 24 | $152.2M | $136.4M |
净利润ACMRAZTA
| Q4 25 | $8.0M | $-15.4M | ||
| Q3 25 | $35.9M | $50.9M | ||
| Q2 25 | $29.8M | $-48.0M | ||
| Q1 25 | $20.4M | $-47.7M | ||
| Q4 24 | $31.1M | $-11.0M | ||
| Q3 24 | $30.9M | $-6.6M | ||
| Q2 24 | $24.2M | $-6.6M | ||
| Q1 24 | $17.4M | $-137.4M |
毛利率ACMRAZTA
| Q4 25 | 40.9% | 42.9% | ||
| Q3 25 | 42.0% | 45.4% | ||
| Q2 25 | 48.5% | 46.2% | ||
| Q1 25 | 47.9% | 43.8% | ||
| Q4 24 | 49.6% | 46.7% | ||
| Q3 24 | 51.4% | 45.5% | ||
| Q2 24 | 47.8% | 44.8% | ||
| Q1 24 | 52.0% | 43.8% |
营业利润率ACMRAZTA
| Q4 25 | 9.4% | -4.9% | ||
| Q3 25 | 10.7% | 1.2% | ||
| Q2 25 | 14.7% | -1.3% | ||
| Q1 25 | 15.0% | -12.7% | ||
| Q4 24 | 19.7% | -5.9% | ||
| Q3 24 | 21.7% | -3.1% | ||
| Q2 24 | 18.6% | -4.9% | ||
| Q1 24 | 16.6% | -18.1% |
净利率ACMRAZTA
| Q4 25 | 3.3% | -10.4% | ||
| Q3 25 | 13.3% | 32.0% | ||
| Q2 25 | 13.8% | -33.4% | ||
| Q1 25 | 11.8% | -33.3% | ||
| Q4 24 | 13.9% | -7.5% | ||
| Q3 24 | 15.2% | -4.4% | ||
| Q2 24 | 12.0% | -4.5% | ||
| Q1 24 | 11.5% | -100.8% |
每股收益（稀释后）ACMRAZTA
| Q4 25 | $0.11 | $-0.34 | ||
| Q3 25 | $0.52 | $1.12 | ||
| Q2 25 | $0.44 | $-1.05 | ||
| Q1 25 | $0.30 | $-1.04 | ||
| Q4 24 | $0.47 | $-0.25 | ||
| Q3 24 | $0.45 | $-0.25 | ||
| Q2 24 | $0.35 | $-0.12 | ||
| Q1 24 | $0.26 | $-2.48 |
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 | $336.6M |
| 总债务越低越好 | $214.0M | — |
| 股东权益账面价值 | $1.5B | $1.7B |
| 总资产 | $2.9B | $2.1B |
| 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ACMRAZTA
| Q4 25 | $792.9M | $336.6M | ||
| Q3 25 | $1.1B | $279.8M | ||
| Q2 25 | $463.2M | $270.0M | ||
| Q1 25 | $475.6M | $253.6M | ||
| Q4 24 | $426.8M | $377.5M | ||
| Q3 24 | $353.8M | $280.0M | ||
| Q2 24 | $343.6M | $336.5M | ||
| Q1 24 | $230.0M | $353.5M |
总债务ACMRAZTA
| 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ACMRAZTA
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.4B | $1.7B | ||
| Q2 25 | $986.5M | $1.7B | ||
| Q1 25 | $949.1M | $1.7B | ||
| Q4 24 | $904.6M | $1.7B | ||
| Q3 24 | $888.2M | $1.8B | ||
| Q2 24 | $833.2M | $2.0B | ||
| Q1 24 | $796.2M | $2.2B |
总资产ACMRAZTA
| Q4 25 | $2.9B | $2.1B | ||
| Q3 25 | $2.8B | $2.1B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $1.9B | $2.0B | ||
| Q4 24 | $1.9B | $2.0B | ||
| Q3 24 | $1.8B | $2.1B | ||
| Q2 24 | $1.7B | $2.3B | ||
| Q1 24 | $1.6B | $2.6B |
负债/权益比ACMRAZTA
| 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 | $20.8M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $14.7M |
| 自由现金流率自由现金流/营收 | 8.2% | 9.9% |
| 资本支出强度资本支出/营收 | 5.6% | 4.2% |
| 现金转化率经营现金流/净利润 | 4.21× | — |
| 过去12个月自由现金流最近4个季度 | $-66.6M | $30.9M |
8季度趋势，按日历期对齐
经营现金流ACMRAZTA
| Q4 25 | $33.9M | $20.8M | ||
| Q3 25 | $-4.6M | $2.2M | ||
| Q2 25 | $-44.9M | $25.8M | ||
| Q1 25 | $5.3M | $14.4M | ||
| Q4 24 | $88.6M | $29.8M | ||
| Q3 24 | $11.9M | $17.7M | ||
| Q2 24 | $61.6M | $9.8M | ||
| Q1 24 | $-9.6M | $8.7M |
自由现金流ACMRAZTA
| Q4 25 | $20.1M | $14.7M | ||
| Q3 25 | $-15.6M | $-5.7M | ||
| Q2 25 | $-59.6M | $15.0M | ||
| Q1 25 | $-11.4M | $7.0M | ||
| Q4 24 | $77.2M | $22.0M | ||
| Q3 24 | $-20.6M | $8.3M | ||
| Q2 24 | $48.5M | $1.3M | ||
| Q1 24 | $-35.1M | $428.0K |
自由现金流率ACMRAZTA
| Q4 25 | 8.2% | 9.9% | ||
| Q3 25 | -5.8% | -3.6% | ||
| Q2 25 | -27.7% | 10.4% | ||
| Q1 25 | -6.6% | 4.9% | ||
| Q4 24 | 34.5% | 15.0% | ||
| Q3 24 | -10.1% | 5.5% | ||
| Q2 24 | 24.0% | 0.9% | ||
| Q1 24 | -23.0% | 0.3% |
资本支出强度ACMRAZTA
| Q4 25 | 5.6% | 4.2% | ||
| Q3 25 | 4.1% | 4.9% | ||
| Q2 25 | 6.8% | 7.5% | ||
| Q1 25 | 9.7% | 5.2% | ||
| Q4 24 | 5.1% | 5.3% | ||
| Q3 24 | 16.0% | 6.2% | ||
| Q2 24 | 6.5% | 5.9% | ||
| Q1 24 | 16.7% | 6.1% |
现金转化率ACMRAZTA
| Q4 25 | 4.21× | — | ||
| Q3 25 | -0.13× | 0.04× | ||
| Q2 25 | -1.51× | — | ||
| Q1 25 | 0.26× | — | ||
| Q4 24 | 2.85× | — | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 2.54× | — | ||
| Q1 24 | -0.55× | — |
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% |
AZTA
| Multiomics | $67.2M | 45% |
| Core Products | $47.6M | 32% |
| Sample Repository Solutions | $33.8M | 23% |
