ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. ACM Research's annualized return on invested capital (ROIC %) for the quarter that ended in Mar. 2026 was 9.63%.
As of today (2026-07-03), ACM Research's WACC % is 23.03%. ACM Research's ROIC % is 8.46% (calculated using TTM income statement data).
ACM Research earns returns that do not match up to its cost of capital. It will destroy value as it grows.
ACM Research (STU:813) ROIC % Explanation
ROIC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROIC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, ACM Research's WACC % is 23.03%. ACM Research's ROIC % is 8.46% (calculated using TTM income statement data).
ACM Research earns returns that do not match up to its cost of capital. It will destroy value as it grows.
Be Aware
Like ROE % and ROA %, ROIC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
ACM Research ROIC % Related Terms
ACM Research ROIC % Historical Data
* Premium members only.
The historical data trend for ACM Research's ROIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Semiconductor Equipment & Materials subindustry, ACM Research's ROIC %, along with its competitors' market caps and ROIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ACM Research ROIC % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, ACM Research's ROIC % distribution charts can be found below:
* The bar in red indicates where ACM Research's ROIC % falls into.
Note:
The Operating Income data used here is four times the quarterly (Mar. 2026) data.
The tax rate is limited to between 0% and 100%.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ACM Research (STU:813) has a ROIC % of 9.63% as of Mar. 2026. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on ACM Research and its competitors.
Is ACM Research's ROIC % too high?
ACM Research's current ROIC % is 9.63%. The Semiconductors industry median ROIC % is 3.74. ACM Research's value of 9.63% is 157.5% above this industry median. Overall, ACM Research has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ACM Research's ROIC % compare to CAMT and KLIC?
ACM Research's ROIC % of 9.63% can be compared against companies in the Semiconductors industry. The industry median ROIC % is 3.74. ACM Research's value of 9.63% is 157.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROIC % for a Semiconductors company?
The median ROIC % among Semiconductors companies is 3.74, based on 1,010 companies in the industry. Companies in the top quartile (top 25%) have a ROIC % significantly above this median, while those in the bottom quartile fall well below. However, ROIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ACM Research's current ROIC % of 9.63% is 157.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROIC % mean?
A high ROIC % can signal that a stock is expensive relative to its fundamentals. Return on invested capital is the ratio of current-period net income to average two-period invested capital. View historical data on ACM Research and its competitors. For the Semiconductors industry, the median ROIC % is 3.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ACM Research's current ROIC % is 9.63%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ACM Research stock overvalued right now?
Based on GuruFocus' analysis, ACM Research (STU:813) is currently considered Significantly Overvalued. The stock's GF Value™ is €29.55, compared to a current price of €84.20 — trading 184.9% above its estimated fair value. The current ROIC % is 9.63% and 157.5% above the Semiconductors industry median of 3.74. ACM Research's overall GF Score™ is 81/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROIC % calculated?
ROIC % is calculated from a company's financial statements. For ACM Research (STU:813), the current ROIC % is 9.63% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ACM Research (STU:813) Overvalued in 2026?
Based on GuruFocus' analysis, ACM Research stock appears to be overvalued.
The current stock price of €84.20 is trading 184.9% above its estimated GF Value™ of €29.55.
GuruFocus considers ACM Research to be Significantly Overvalued.
Key valuation signals for STU:813:
ROIC %: 9.63%
GF Value™: €29.55 vs. price of €84.20 (184.9% above fair value)
Industry Position: 157.5% above the Semiconductors median
No single metric tells the full story. See the STU:813 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ACM Research Inc supplies capital equipment developed for the semiconductor industry. The company focuses on developing differentiated process solutions that enable effective particle removal, uniform material deposition, and reliable process control for the fabricators of integrated circuits. Its product offerings include wet-cleaning, plating, furnace, PECVD, track, and other front-end processing equipment. Additionally, it develops, manufactures, and sells a range of packaging equipment to wafer assembly and packaging customers. Geographically, the company generates maximum revenue from its customers in Mainland China, and the rest from other regions.
81GF Score
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