ACM Research Shanghai Inc (688082) Fair Value & Analysis
Technology · CN · Market cap 145B CNY (≈ $21.6B) · ISIN CNE100004ZD8
What is ACM Research Shanghai Inc really worth?
Below-average quality, and trading another 394% above our fair value of ¥57.62.
Strengths
Risks
For context
Fair value as of: Aug 21, 2026
From 17 valuation models · updated 12 days ago
Share price +4.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (¥70.53). The favourable scenario is already priced in.
- Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (¥29.75 to ¥70.53) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
57‑month range ¥68.28 – ¥447.95 · fair‑value band ¥29.75 – ¥70.53 · the ¥284.81 price screens above the ¥57.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
ACM Research Shanghai Inc (688082) currently trades at ¥284.81, while our model-based Fair Value estimate is ¥57.62, implying the stock looks roughly 394.3% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of ¥146.19 per share, and 0 of the 17 models we run sit above the ¥284.81 price. Bear case: the Dividend Discount group reads lowest at ¥9.62, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, ACM Research Shanghai Inc generated revenue of 7.0B CNY at a net margin of 18.0%. Revenue grew 13.1% year over year. It earns a return on equity of 11.5%. The balance sheet holds a net cash position of 2.9B CNY. Fundamentals as of Aug 21, 2026
Our scenario range runs from ¥29.75 (bear case) to ¥70.53 (bull case); at ¥284.81, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 174% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −71% fair-value upside, at −80%, 688082 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥1.40 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 17 models by family
Widest divergence: Growth Earnings (¥146.19) versus Dividend Discount (¥9.62). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 46 · Market factors (momentum, volatility) 76
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
ACM Research (Shanghai), Inc. engages in the research, development, production, and sale of semiconductor equipment in China. The company offers cleaning equipment; plating system and panel level packaging; furnace system; track systems; PECVD systems; and stress free polishing systems.
Full company description
ACM Research (Shanghai), Inc. engages in the research, development, production, and sale of semiconductor equipment in China. The company offers cleaning equipment; plating system and panel level packaging; furnace system; track systems; PECVD systems; and stress free polishing systems. It serves IC and compound semi manufacturing, wafer-level and panel level packaging, and wafer manufacturing and reclaim industries. ACM Research (Shanghai), Inc. was founded in 2005 and is based in Shanghai, China. ACM Research (Shanghai), Inc. operates as a subsidiary of ACM Research, Inc.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
ACM Research Shanghai Inc reported revenue of 6.8B CNY in FY2025 versus 1.6B CNY in FY2021, a compound +43.0%/yr. Reported net income was 1.4B CNY in FY2025, compounding +51.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
688082 screens 394% overvalued. Compare with ASML Holding →
Peer Group
Semiconductor Equipment & Materials · 214 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ASML Holding ASML | €1,494 | €604.27 | −60% |
| Applied Materials, Inc AMAT | $482.36 | $183.10 | −62% |
| Lam Research Corporation LRCX | $301.90 | $91.80 | −70% |
| KLA Corporation KLAC | $175.54 | $74.58 | −58% |
| NAURA Technology Group 002371 | ¥707.90 | ¥205.30 | −71% |
| Teradyne, Inc TER | $354.97 | $65.80 | −81% |
| Advanced Micro-Fabrication Equipment Inc 688012 | ¥380.95 | ¥55.05 | −86% |
| Piotech Inc 688072 | ¥685.11 | ¥89.27 | −87% |
| Hon. Precision, Inc 7769 | 6,445 TWD | 1,804 TWD | −72% |
| Hangzhou Changchuan Technology Co 300604 | ¥284.80 | ¥46.26 | −84% |
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