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ACM Research vs Veeco Instruments: ACMR and VECO compared
ACM Research is the larger company: $368M of revenue in its latest quarter (Q3 2026) against $209M for Veeco Instruments (Q3 2026). ACM Research is growing faster (+37% against +26% a year earlier). ACM Research is more profitable, with an operating margin of 15.1% against 6.7%.
Where the money goes: ACMR and VECO
ACM Research (ACMR) · Q3 2026
ACM Research, Q3 2026: revenue $368M (+37% year over year), operating margin 15.1%, net earnings $1.5M, operating cash flow −$70.4M. The chart follows the revenue to costs, profit and cash.
Veeco Instruments (VECO) · Q3 2026
Veeco Instruments, Q3 2026: revenue $209M (+26% year over year), operating margin 6.7%, net earnings $13.6M, operating cash flow $57.9M. The chart follows the revenue to costs, profit and cash.
| ACM Research (ACMR) | Veeco Instruments (VECO) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $368M | $209M |
| Revenue growth, Y/Y | +37% | +26% |
| Gross margin | 41.5% | 38.4% |
| Operating margin | 15.1% | 6.7% |
| Net earnings | $1.5M | $13.6M |
| Net margin | 0.4% | 6.5% |
| Operating cash flow | −$70.4M | $57.9M |
| Free cash flow | — | $53.6M |
| Market value | $3.3B | $3.5B |
| P/E | 19.4× | 130.7× |
| Analysts’ mean target | $115.33 | $61.33 |
Where the revenue comes from
ACM Research
- Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment: $211M (57%)
- ECP (front-end and packaging), Furnace and Other Technologies: $109M (30%)
- Advanced Packaging (excluding ECP), Services & Spares: $47.5M (13%)
Veeco Instruments
- Semiconductor: $135M (65%)
- Compound Semiconductor: $40.2M (19%)
- Data Storage: $20.0M (10%)
- Scientific & Other: $13.9M (7%)
Questions
Which is bigger, ACM Research or Veeco Instruments?
ACM Research is the larger company: $368M of revenue in its latest quarter (Q3 2026) against $209M for Veeco Instruments (Q3 2026).
Is ACM Research or Veeco Instruments growing faster?
ACM Research is growing faster (+37% against +26% a year earlier).
Which is more profitable, ACM Research or Veeco Instruments?
ACM Research is more profitable, with an operating margin of 15.1% against 6.7%.
More: ACM Research earnings · how ACM Research makes money · Veeco Instruments earnings · how Veeco Instruments makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.