ACM Research (ACMR) Cash Flow: Operating & Free Cash Flow

ACM Research Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for ACM Research, Inc. (ACMR) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	121.89	131.27	77.35	50.56	42.92	21.68	19.46	6.57	-0.87
Depreciation & Amortization	16.33	9.97	8.09	5.37	2.35	1.06	0.79	0.42	0.27
Deferred Income Tax	-14.38	5.29	-13.65	4.03	-1.84	-4.09	-3.72	-0.41	0.66
Stock Based Compensation	33.58	49.58	27.34	7.73	5.12	5.63	3.57	3.36	1.62
Change in Working Capital	-177.83	-63.07	-184.59	-131.94	-85.93	-36.58	-10.82	-2.92	-9.75
Change in Accounts Receivable	-117.87	-123.28	-112.07	-96.93	-57.13	-28.97	-6.96	0.88	-9.76
Change in Inventory	-108.22	-64.14	-164.03	-193.31	-127.73	-40.77	-6.66	-24.08	-3.07
Change in Accounts Payable	83.78	4.73	42.34	17.50	65.21	21.28	-3.06	9.83	1.91
Change in Other Working Capital	-6.81	119.62	49.17	140.80	-17.27	11.88	5.86	10.46	1.18
Other Operating Activities	-4.30	19.42	10.14	2.06	-4.56	-1.24	0.13	-0.12	-0.04
Net Cash from Operating Activities	-10.33	152.45	-75.32	-62.19	-40.09	-13.55	9.40	6.91	-8.10
Investing Activities
Capital Expenditures	-56.28	-82.46	-64.34	-92.52	-9.15	-55.49	-1.13	-2.07	-0.77
Acquisitions	0.00	0.00	0.00	-1.00	0.00	0.00	-4.41	0.00	-22.01
Purchases of Investments	-389.77	-100.99	-51.98	-177.73	-1.57	-15.02	-4.41	0.00	-1.20
Sales/Maturities of Investments	56.41	174.98	109.58	4.58	-0.56	0.00	8.97	0.00	1.09
Other Investing Activities	0.69	-3.49	-2.46	-0.43	-0.56	-9.51	-4.56	-0.24	-0.83
Net Cash from Investing Activities	-390.34	-11.96	-6.75	-265.67	-11.28	-69.95	-5.53	-2.07	-23.72
Financing Activities
Debt Repayment	-60.25	88.28	16.34	44.56	-2.13	30.09	4.42	4.60	0.04
Common Stock Issued	34.77	0.00	6.14	1.31	5.25	0.00	86.11	0.53	33.02
Common Stock Repurchased	-6.99	0.00	0.00	0.00	0.00	0.00	-2.83	0.00	0.00
Dividends Paid	-7.58	-6.90	-3.95	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	-14.32	11.10	0.00	0.00	545.51	2.75	-0.26	0.53	44.48
Net Cash from Financing Activities	742.49	92.48	18.53	45.87	538.77	32.83	87.45	5.12	38.72
Summary
Effect of Forex Changes on Cash	12.83	-4.84	-1.74	-32.62	3.91	4.57	-0.58	-0.52	0.66
Net Change in Cash	354.65	228.14	-65.28	-314.62	491.30	-46.09	90.74	9.44	7.56
Cash at Beginning of Period	411.31	183.17	248.45	563.07	71.77	117.86	27.12	17.68	10.12
Cash at End of Period	765.96	411.31	183.17	248.45	563.07	71.77	117.86	27.12	17.68
Free Cash Flow	-66.61	69.99	-139.66	-154.71	-49.25	-69.03	8.28	4.84	-8.87
Supplemental Disclosures
Interest Paid	-	4.15	2.68	1.66	0.77	0.98	-	-	-
Income Taxes Paid	-	11.22	26.10	3.59	1.13	4.97	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About ACM Research Cash Flow

What is ACM Research's free cash flow?

ACM Research had negative free cash flow of $66.61M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −$10.32M minus $56.28M of capital expenditures.

How much does ACM Research spend on capital expenditures?

ACM Research spent $56.28M on capital expenditures in fiscal 2025, compared with $82.46M a year earlier.

Does ACM Research pay dividends or buy back shares?

Yes. In fiscal 2025 ACM Research returned $7.58M in dividends and $6.99M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition