Quick verdict: ACLS vs ACMR in 2026

ACMR appears to have an overall edge in this 2026 comparison, leading in several key areas. ACMR emerges as the clear growth leader with robust positive revenue momentum, while also presenting a more attractive proposition for value investors based on its lower P/E and P/B ratios. In terms of operational efficiency, ACLS slightly edges out ACMR on net margin, indicating stronger bottom-line conversion. Finally, analysts collectively favor ACMR, assigning a higher percentage of ‘Buy’ ratings and forecasting significant positive upside. Not investment advice.

ACLS vs ACMR: key metrics side by side

Full side-by-side comparison of ACLS and ACMR across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-08.

ACLS vs ACMR valuation comparison

Comparing ACLS vs ACMR valuation, ACMR appears to be the more attractively priced option based on traditional multiples. ACLS trades at a P/E ratio of 48.32x, notably higher than ACMR’s P/E of 42.81x. This suggests that investors are currently paying a premium for ACLS’s earnings compared to ACMR’s. Similarly, when looking at the price-to-book (P/B) ratio, ACLS stands at 4.67x, which is significantly elevated compared to ACMR’s P/B of 2.46x, indicating that ACMR offers a better entry point from an asset-based valuation perspective. These metrics suggest that, on a relative basis, ACMR’s stock currently trades at a more reasonable valuation in the context of the technology sector.

Despite ACMR’s advantage on P/E and P/B, a deeper look into the discounted cash flow (DCF) models reveals a challenging picture for both companies, suggesting potential overvaluation relative to their intrinsic worth based on projected future cash flows. The DCF analysis indicates a substantial negative upside for both stocks, with ACLS showing a -61.1% potential downside from its current price, and ACMR facing an even steeper -97.3% downside according to this model. While ACLS’s DCF suggests less severe overvaluation compared to ACMR, it’s crucial for investors to approach both stocks with caution if solely relying on DCF for intrinsic value. This divergence between market multiples and DCF emphasizes the complexity in assessing the true value of these high-growth technology companies in 2026.

ACLS vs ACMR growth comparison

In the ACLS vs ACMR growth comparison, ACMR exhibits significantly stronger momentum heading into 2026. ACMR reported a robust year-over-year revenue growth of 15.2%, demonstrating its ability to expand its market share and capture increasing demand within the semiconductor equipment industry. This positive trajectory signals healthy business expansion and operational efficiency in leveraging current market opportunities. In stark contrast, Axcelis Technologies (ACLS) experienced a considerable revenue decline, with a year-over-year growth rate of -17.6%. This negative growth figure for ACLS suggests a period of contraction or significant headwinds, which could be attributed to market cyclicality, competitive pressures, or specific challenges within its product segments.

The disparate growth rates between ACLS and ACMR highlight their differing operational dynamics and market positioning. ACMR’s consistent positive growth indicates a company successfully navigating the competitive landscape, potentially benefiting from new product cycles or expanding geographical reach. Its revenue of $901,309,000 also slightly surpasses ACLS’s $839,048,000, underscoring its larger scale in terms of top-line performance. For investors prioritizing top-line expansion and market penetration, ACMR presents a more compelling narrative for growth. Conversely, ACLS’s negative growth requires careful scrutiny, prompting questions about its future strategies to regain momentum and return to positive revenue expansion in the highly dynamic technology sector.

ACLS vs ACMR profitability

When evaluating ACLS vs ACMR profitability, both companies demonstrate solid, albeit distinct, operational efficiency. ACLS reports a net margin of 11.93%, which is higher than ACMR’s net margin of 9.48%. This indicates that Axcelis Technologies is more effective at converting its revenue into net income, suggesting better cost management or higher-margin product offerings. Despite ACMR achieving higher EBITDA margins at 16.97% compared to ACLS’s 15.27%, ACLS’s stronger net margin reflects its ability to manage all expenses, including depreciation, amortization, interest, and taxes, more efficiently down to the bottom line. This makes ACLS the leader in terms of net income generation relative to its sales.

Further examining profitability metrics reveals additional nuances. ACLS also shows a positive free cash flow (FCF) yield of 1.85%, demonstrating its capacity to generate cash after accounting for capital expenditures, which is crucial for financial health and potential shareholder returns. In contrast, ACMR reports a negative FCF yield of -1.75%, indicating that it consumed more cash than it generated from operations and investments during the last twelve months. This negative free cash flow suggests that ACMR might be in a phase of heavy investment, experiencing working capital issues, or facing other operational challenges impacting cash generation. Both companies currently report N/A% for Return on Equity (ROE), making a direct comparison on this specific metric impossible based on the provided data. Therefore, for investors focused on strong bottom-line conversion and positive cash generation, ACLS currently holds an advantage in profitability.

Analyst ratings: ACLS vs ACMR

Professional analysts hold largely positive but distinctly differentiated views on ACLS vs ACMR, with a clear preference for ACMR in terms of future upside potential. ACLS is covered by 12 analysts, and 66.7% currently recommend it as a “Buy,” contributing to an overall “Buy” consensus. However, their collective price target for ACLS is set at $128, which represents a -19.3% downside from its current trading price of $158.66. This suggests that while analysts generally approve of ACLS as an investment, they believe its current market price has already exceeded their fair value estimates, implying a potential correction or limited growth from current levels.

ACMR, on the other hand, garners an even stronger endorsement from the analyst community. Covered by 10 analysts, a higher percentage—80.0%—rate ACMR as a “Buy,” also resulting in an overall “Buy” consensus. More significantly, the consensus price target for ACMR is $75, which offers a substantial +26.7% upside from its current price of $59.2. This positive upside potential indicates that analysts perceive ACMR as undervalued at its current market price and anticipate significant appreciation. The stronger buy conviction and considerable positive price target upside for ACMR suggest that analysts collectively see more compelling reasons to invest in ACM Research compared to Axcelis Technologies at this point in 2026.

Should I buy ACLS or ACMR stock in 2026?

For growth-oriented investors considering ACLS vs ACMR stock in 2026, ACMR appears to be the more compelling choice. Its robust year-over-year revenue growth of 15.2% significantly outperforms ACLS’s -17.6% decline, signaling stronger operational momentum and market expansion. This positive growth trajectory, combined with a highly optimistic analyst price target forecasting a +26.7% upside, suggests that ACMR is poised for continued expansion and investor returns in the near term. Growth investors typically seek companies demonstrating strong top-line increases and positive future outlooks, areas where ACMR clearly leads.

Value investors seeking an attractively priced stock might find ACMR more appealing, despite the deep negative DCF for both. ACMR trades at a lower P/E ratio of 42.81x and a significantly lower P/B ratio of 2.46x compared to ACLS’s 48.32x P/E and 4.67x P/B. These metrics suggest that ACMR offers a better relative value proposition, implying investors are paying less for its earnings and assets. However, it’s crucial to acknowledge the substantial negative DCF valuations for both companies (ACLS at -61.1% and ACMR at -97.3%), which indicate potential overvaluation based on intrinsic value models. While ACMR is “cheaper” by multiples, prudent value investors would need to reconcile this with the DCF outlook or rely on other catalysts for price appreciation.

For income-focused investors, neither ACLS nor ACMR currently offers a compelling option in 2026, as both companies have a 0% dividend yield. This means that neither Axcelis Technologies nor ACM Research distributes a portion of their earnings to shareholders in the form of regular dividends. Companies in the semiconductor equipment sector often reinvest their profits back into research and development, capacity expansion, or strategic acquisitions to fuel future growth, rather than paying dividends. Therefore, investors prioritizing consistent income generation from their stock portfolio will need to look elsewhere. This is not investment advice; always conduct your own thorough research and consult with a financial professional before making investment decisions.

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FAQ: ACLS vs ACMR