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盛美半导体（ACMR）与Cricut, Inc.（CRCT）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Cricut, Inc.的1.2倍（$244.4M vs $203.6M）。Cricut, Inc.净利率更高（3.8% vs 3.3%，领先0.5%）。盛美半导体同比增速更快（9.4% vs -2.7%）。过去两年盛美半导体的营收复合增速更高（26.7% vs 10.3%）
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。
Cricut, Inc.是面向家庭手工爱好者的美国品牌，主营计算机控制的切割机产品。这类设备可切割纸张、毛毡、乙烯基、布料，也可加工皮革、纸板、木材等多种材料，是手工创作场景的实用工具。
ACMR vs CRCT — 直观对比
营收规模更大
ACMR
是对方的1.2倍
$203.6M
营收增速更快
ACMR
高出12.1%
-2.7%
净利率更高
CRCT
高出0.5%
3.3%
两年增速更快
ACMR
近两年复合增速
10.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $203.6M |
| 净利润 | $8.0M | $7.8M |
| 毛利率 | 40.9% | 47.4% |
| 营业利润率 | 9.4% | 6.8% |
| 净利率 | 3.3% | 3.8% |
| 营收同比 | 9.4% | -2.7% |
| 净利润同比 | -74.1% | -34.7% |
| 每股收益（稀释后） | $0.11 | $0.03 |
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ACMRCRCT
| Q4 25 | $244.4M | $203.6M | ||
| Q3 25 | $269.2M | $170.4M | ||
| Q2 25 | $215.4M | $172.1M | ||
| Q1 25 | $172.3M | $162.6M | ||
| Q4 24 | $223.5M | $209.3M | ||
| Q3 24 | $204.0M | $167.9M | ||
| Q2 24 | $202.5M | $167.9M | ||
| Q1 24 | $152.2M | $167.4M |
净利润ACMRCRCT
| Q4 25 | $8.0M | $7.8M | ||
| Q3 25 | $35.9M | $20.5M | ||
| Q2 25 | $29.8M | $24.5M | ||
| Q1 25 | $20.4M | $23.9M | ||
| Q4 24 | $31.1M | $11.9M | ||
| Q3 24 | $30.9M | $11.5M | ||
| Q2 24 | $24.2M | $19.8M | ||
| Q1 24 | $17.4M | $19.6M |
毛利率ACMRCRCT
| Q4 25 | 40.9% | 47.4% | ||
| Q3 25 | 42.0% | 55.2% | ||
| Q2 25 | 48.5% | 59.0% | ||
| Q1 25 | 47.9% | 60.5% | ||
| Q4 24 | 49.6% | 44.9% | ||
| Q3 24 | 51.4% | 46.1% | ||
| Q2 24 | 47.8% | 53.5% | ||
| Q1 24 | 52.0% | 54.7% |
营业利润率ACMRCRCT
| Q4 25 | 9.4% | 6.8% | ||
| Q3 25 | 10.7% | 13.3% | ||
| Q2 25 | 14.7% | 17.5% | ||
| Q1 25 | 15.0% | 18.0% | ||
| Q4 24 | 19.7% | 6.6% | ||
| Q3 24 | 21.7% | 6.3% | ||
| Q2 24 | 18.6% | 15.7% | ||
| Q1 24 | 16.6% | 15.1% |
净利率ACMRCRCT
| Q4 25 | 3.3% | 3.8% | ||
| Q3 25 | 13.3% | 12.0% | ||
| Q2 25 | 13.8% | 14.2% | ||
| Q1 25 | 11.8% | 14.7% | ||
| Q4 24 | 13.9% | 5.7% | ||
| Q3 24 | 15.2% | 6.8% | ||
| Q2 24 | 12.0% | 11.8% | ||
| Q1 24 | 11.5% | 11.7% |
每股收益（稀释后）ACMRCRCT
| Q4 25 | $0.11 | $0.03 | ||
| Q3 25 | $0.52 | $0.10 | ||
| Q2 25 | $0.44 | $0.11 | ||
| Q1 25 | $0.30 | $0.11 | ||
| Q4 24 | $0.47 | $0.06 | ||
| Q3 24 | $0.45 | $0.05 | ||
| Q2 24 | $0.35 | $0.09 | ||
| Q1 24 | $0.26 | $0.09 |
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 | $275.6M |
| 总债务越低越好 | $214.0M | — |
| 股东权益账面价值 | $1.5B | $343.6M |
| 总资产 | $2.9B | $580.8M |
| 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ACMRCRCT
| Q4 25 | $792.9M | $275.6M | ||
| Q3 25 | $1.1B | $207.1M | ||
| Q2 25 | $463.2M | $376.9M | ||
| Q1 25 | $475.6M | $356.7M | ||
| Q4 24 | $426.8M | $336.9M | ||
| Q3 24 | $353.8M | $246.9M | ||
| Q2 24 | $343.6M | $299.5M | ||
| Q1 24 | $230.0M | $281.7M |
总债务ACMRCRCT
| 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ACMRCRCT
| Q4 25 | $1.5B | $343.6M | ||
| Q3 25 | $1.4B | $358.4M | ||
| Q2 25 | $986.5M | $308.9M | ||
| Q1 25 | $949.1M | $490.2M | ||
| Q4 24 | $904.6M | $466.8M | ||
| Q3 24 | $888.2M | $475.8M | ||
| Q2 24 | $833.2M | $448.5M | ||
| Q1 24 | $796.2M | $552.6M |
总资产ACMRCRCT
| Q4 25 | $2.9B | $580.8M | ||
| Q3 25 | $2.8B | $564.3M | ||
| Q2 25 | $2.0B | $721.5M | ||
| Q1 25 | $1.9B | $681.7M | ||
| Q4 24 | $1.9B | $693.0M | ||
| Q3 24 | $1.8B | $663.8M | ||
| Q2 24 | $1.7B | $742.1M | ||
| Q1 24 | $1.6B | $723.7M |
负债/权益比ACMRCRCT
| 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 | $82.4M |
| 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× | 10.58× |
| 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ACMRCRCT
| Q4 25 | $33.9M | $82.4M | ||
| Q3 25 | $-4.6M | $20.5M | ||
| Q2 25 | $-44.9M | $36.2M | ||
| Q1 25 | $5.3M | $61.2M | ||
| Q4 24 | $88.6M | $103.1M | ||
| Q3 24 | $11.9M | $70.2M | ||
| Q2 24 | $61.6M | $35.0M | ||
| Q1 24 | $-9.6M | $56.7M |
自由现金流ACMRCRCT
| 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ACMRCRCT
| 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ACMRCRCT
| 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ACMRCRCT
| Q4 25 | 4.21× | 10.58× | ||
| Q3 25 | -0.13× | 1.00× | ||
| Q2 25 | -1.51× | 1.48× | ||
| Q1 25 | 0.26× | 2.56× | ||
| Q4 24 | 2.85× | 8.64× | ||
| Q3 24 | 0.39× | 6.11× | ||
| Q2 24 | 2.54× | 1.77× | ||
| Q1 24 | -0.55× | 2.89× |
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% |
CRCT
| Platform | $83.9M | 41% |
| Connected Machines | $65.2M | 32% |
| Accessories And Materials | $54.4M | 27% |
