The company has reduced its share count over this period, returning value to shareholders through buybacks.
Diluted shares outstanding: 1.21B (2021) → 1.15B (2025)
AAC Technologies Holdings Inc., an investment holding firm, specializes in delivering a diverse array of solutions for intelligent devices globally. Its extensive geographical reach encompasses mainland China, Hong Kong, Taiwan, other Asian countries, the United States, and European markets. The company's operations are distinctly segmented into four primary divisions: Acoustics Product, Electromagnetic Drives and Precision Mechanics, Optics Products, and Micro Electro-Mechanical System (MEMS) Components. The Acoustics Product division engineers audio components and solutions for applications ranging from smartphones and automotive systems to wearable technology, tablets, and notebooks. The Electromagnetic Drives and Precision Mechanics segment is responsible for manufacturing haptic motors, which are integrated into a wide variety of smart devices, including smartphones, smartwatches, tablets, intelligent automotive systems, smart glasses, game controllers, virtual/augmented reality (AR) controllers, and bone conduction headphones. Additionally, this segment produces precision mechanical components such as metal casings, bases, and various parts for tablets, wearables, and notebooks. Within the Optics Products division, offerings include a range of vehicle lenses (e.g., plastic, front-view, surround-view, occupant monitoring systems, and driver monitoring systems), advanced camera modules, and sophisticated voice coil motor (VCM) and optical image stabilization (OIS) solutions. The MEMS Business arm focuses on developing and providing MEMS microphone products, finding widespread use in true wireless stereo earphones, smart speakers, tablets, and the automotive sector. Beyond its core product lines, AAC Technologies also dedicates resources to research and development, manufactures and distributes specialized tooling, precision components, electronic parts, and associated accessories, and offers electroplating services. The company has forged a strategic alliance with Dispelix to advance augmented reality (AR) and mixed reality solutions. Founded in 1993 and headquartered in Shenzhen, the People's Republic of China, the company initially operated as AAC Acoustic Technologies Holdings Inc. before officially adopting its current name, AAC Technologies Holdings Inc., in May 2011.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+7.4% YoY
YoY Growth Rate
Slow revenue growth
-1.3% YoY
YoY Growth Rate
Earnings declining
¥2.0B/ year
→ Flat (-3% vs prior year)
6.2% of revenue
Steady R&D investment year-over-year
Cash flow positive
¥8.6B cash & investments
Quarterly Free Cash Flow
↑ Burn rate improving
Company generates more cash than it spends — no dilution risk from fundraising
AAC Technologies Holdings is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
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ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.
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Healthy double-digit earnings growth — what compounders look like.
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FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.
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Interest coverage between 3 and 8. Profits cover interest several times over.
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P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.
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Modest yield. The bulk of any return needs to come from price appreciation.
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