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盛美半导体（ACMR）与GIBRALTAR INDUSTRIES, INC.（ROCK）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GIBRALTAR INDUSTRIES, INC.的1.1倍（$244.4M vs $225.0M），GIBRALTAR INDUSTRIES, INC.同比增速更快（24.9% vs 9.4%），GIBRALTAR INDUSTRIES, INC.自由现金流更多（$26.2M vs $20.1M），过去两年盛美半导体的营收复合增速更高（26.7% vs -12.3%）
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。
直布罗陀工业公司是专业建筑、基础设施及可再生能源产品制造商与分销商，主营通风系统、屋面配件、太阳能安装支架、园林景观产品等，主要服务北美地区住宅、商业建筑及清洁能源市场，专注提供创新可持续的客户解决方案。
ACMR vs ROCK — 直观对比
营收规模更大
ACMR
是对方的1.1倍
$225.0M
营收增速更快
ROCK
高出15.6%
9.4%
自由现金流更多
ROCK
多$6.1M
$20.1M
两年增速更快
ACMR
近两年复合增速
-12.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $244.4M | $225.0M |
| 净利润 | $8.0M | — |
| 毛利率 | 40.9% | 25.3% |
| 营业利润率 | 9.4% | 7.9% |
| 净利率 | 3.3% | — |
| 营收同比 | 9.4% | 24.9% |
| 净利润同比 | -74.1% | — |
| 每股收益（稀释后） | $0.11 | — |
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ACMRROCK
| Q4 25 | $244.4M | $225.0M | ||
| Q3 25 | $269.2M | $310.9M | ||
| Q2 25 | $215.4M | $309.5M | ||
| Q1 25 | $172.3M | $290.0M | ||
| Q4 24 | $223.5M | $180.1M | ||
| Q3 24 | $204.0M | $277.1M | ||
| Q2 24 | $202.5M | $273.6M | ||
| Q1 24 | $152.2M | $292.5M |
净利润ACMRROCK
| Q4 25 | $8.0M | — | ||
| Q3 25 | $35.9M | $-89.1M | ||
| Q2 25 | $29.8M | $26.0M | ||
| Q1 25 | $20.4M | $21.1M | ||
| Q4 24 | $31.1M | — | ||
| Q3 24 | $30.9M | $34.0M | ||
| Q2 24 | $24.2M | $32.2M | ||
| Q1 24 | $17.4M | $24.9M |
毛利率ACMRROCK
| Q4 25 | 40.9% | 25.3% | ||
| Q3 25 | 42.0% | 26.6% | ||
| Q2 25 | 48.5% | 28.4% | ||
| Q1 25 | 47.9% | 26.8% | ||
| Q4 24 | 49.6% | 29.0% | ||
| Q3 24 | 51.4% | 29.4% | ||
| Q2 24 | 47.8% | 30.5% | ||
| Q1 24 | 52.0% | 28.9% |
营业利润率ACMRROCK
| Q4 25 | 9.4% | 7.9% | ||
| Q3 25 | 10.7% | 12.8% | ||
| Q2 25 | 14.7% | 12.8% | ||
| Q1 25 | 15.0% | 8.8% | ||
| Q4 24 | 19.7% | 13.3% | ||
| Q3 24 | 21.7% | 15.6% | ||
| Q2 24 | 18.6% | 14.9% | ||
| Q1 24 | 16.6% | 10.8% |
净利率ACMRROCK
| Q4 25 | 3.3% | — | ||
| Q3 25 | 13.3% | -28.6% | ||
| Q2 25 | 13.8% | 8.4% | ||
| Q1 25 | 11.8% | 7.3% | ||
| Q4 24 | 13.9% | — | ||
| Q3 24 | 15.2% | 12.3% | ||
| Q2 24 | 12.0% | 11.8% | ||
| Q1 24 | 11.5% | 8.5% |
每股收益（稀释后）ACMRROCK
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.52 | $-2.98 | ||
| Q2 25 | $0.44 | $0.87 | ||
| Q1 25 | $0.30 | — | ||
| Q4 24 | $0.47 | — | ||
| Q3 24 | $0.45 | $1.11 | ||
| Q2 24 | $0.35 | $1.05 | ||
| Q1 24 | $0.26 | — |
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 | $115.7M |
| 总债务越低越好 | $214.0M | $0 |
| 股东权益账面价值 | $1.5B | $950.4M |
| 总资产 | $2.9B | $1.4B |
| 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ACMRROCK
| Q4 25 | $792.9M | $115.7M | ||
| Q3 25 | $1.1B | $89.4M | ||
| Q2 25 | $463.2M | $43.3M | ||
| Q1 25 | $475.6M | $25.1M | ||
| Q4 24 | $426.8M | $269.5M | ||
| Q3 24 | $353.8M | $228.9M | ||
| Q2 24 | $343.6M | $179.1M | ||
| Q1 24 | $230.0M | $146.7M |
总债务ACMRROCK
| Q4 25 | $214.0M | $0 | ||
| Q3 25 | $242.0M | $0 | ||
| Q2 25 | $225.1M | $0 | ||
| Q1 25 | $202.5M | $0 | ||
| Q4 24 | $150.0M | $0 | ||
| Q3 24 | $150.0M | $0 | ||
| Q2 24 | $90.5M | $0 | ||
| Q1 24 | $60.0M | $0 |
股东权益ACMRROCK
| Q4 25 | $1.5B | $950.4M | ||
| Q3 25 | $1.4B | $951.8M | ||
| Q2 25 | $986.5M | $1.0B | ||
| Q1 25 | $949.1M | $1.0B | ||
| Q4 24 | $904.6M | $1.0B | ||
| Q3 24 | $888.2M | $1.0B | ||
| Q2 24 | $833.2M | $975.7M | ||
| Q1 24 | $796.2M | $940.2M |
总资产ACMRROCK
| Q4 25 | $2.9B | $1.4B | ||
| Q3 25 | $2.8B | $1.4B | ||
| Q2 25 | $2.0B | $1.5B | ||
| Q1 25 | $1.9B | $1.4B | ||
| Q4 24 | $1.9B | $1.4B | ||
| Q3 24 | $1.8B | $1.4B | ||
| Q2 24 | $1.7B | $1.4B | ||
| Q1 24 | $1.6B | $1.3B |
负债/权益比ACMRROCK
| 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 | $35.5M |
| 自由现金流经营现金流 - 资本支出 | $20.1M | $26.2M |
| 自由现金流率自由现金流/营收 | 8.2% | 11.7% |
| 资本支出强度资本支出/营收 | 5.6% | 4.1% |
| 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 | $120.6M |
8季度趋势，按日历期对齐
经营现金流ACMRROCK
| Q4 25 | $33.9M | $35.5M | ||
| Q3 25 | $-4.6M | $73.0M | ||
| Q2 25 | $-44.9M | $44.9M | ||
| Q1 25 | $5.3M | $13.7M | ||
| Q4 24 | $88.6M | $19.9M | ||
| Q3 24 | $11.9M | $64.7M | ||
| Q2 24 | $61.6M | $36.5M | ||
| Q1 24 | $-9.6M | $53.2M |
自由现金流ACMRROCK
| Q4 25 | $20.1M | $26.2M | ||
| Q3 25 | $-15.6M | $64.8M | ||
| Q2 25 | $-59.6M | $27.3M | ||
| Q1 25 | $-11.4M | $2.3M | ||
| Q4 24 | $77.2M | $14.1M | ||
| Q3 24 | $-20.6M | $60.5M | ||
| Q2 24 | $48.5M | $33.5M | ||
| Q1 24 | $-35.1M | $48.8M |
自由现金流率ACMRROCK
| Q4 25 | 8.2% | 11.7% | ||
| Q3 25 | -5.8% | 20.8% | ||
| Q2 25 | -27.7% | 8.8% | ||
| Q1 25 | -6.6% | 0.8% | ||
| Q4 24 | 34.5% | 7.8% | ||
| Q3 24 | -10.1% | 21.8% | ||
| Q2 24 | 24.0% | 12.2% | ||
| Q1 24 | -23.0% | 16.7% |
资本支出强度ACMRROCK
| Q4 25 | 5.6% | 4.1% | ||
| Q3 25 | 4.1% | 2.6% | ||
| Q2 25 | 6.8% | 5.7% | ||
| Q1 25 | 9.7% | 3.9% | ||
| Q4 24 | 5.1% | 3.3% | ||
| Q3 24 | 16.0% | 1.5% | ||
| Q2 24 | 6.5% | 1.1% | ||
| Q1 24 | 16.7% | 1.5% |
现金转化率ACMRROCK
| Q4 25 | 4.21× | — | ||
| Q3 25 | -0.13× | — | ||
| Q2 25 | -1.51× | 1.73× | ||
| Q1 25 | 0.26× | 0.65× | ||
| Q4 24 | 2.85× | — | ||
| Q3 24 | 0.39× | 1.90× | ||
| Q2 24 | 2.54× | 1.13× | ||
| Q1 24 | -0.55× | 2.13× |
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% |
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
