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Apr 8, 2026·SEC
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Apr 7, 2026·SEC
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Jan 8, 2026·SEC
Aehr Test Systems(AEHR)Earnings, Financials & Key Ratios
AEHR•NASDAQ
$91.19
$2.79B mkt cap·Price updated May 6, 2026
SectorTechnologyIndustrySemiconductorsSub-IndustrySemiconductor Test, Metrology and Inspection Equipment
AboutAehr Test Systems provides test systems for burning-in and testing logic, optical, and memory integrated circuits worldwide. It offers products, such as the ABTS and FOX-P families of test and burn-in systems and FOX WaferPak Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier, and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for lower power and higher power logic devices, as well as various common types of memory devices. The FOX-XP and FOX-NP systems are wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a single-wafer compact test and reliability verification solution for logic, memory, and photonic devices. The WaferPak Contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform final test and burn-in of bare die and modules. Aehr Test Systems was incorporated in 1977 and is headquartered in Fremont, California.Show more
- Revenue$59M-10.9%
- EBITDA-$925K-108.1%
- Net Income-$4M-111.8%
- EPS (Diluted)-0.13-111.6%
- Gross Margin40.59%-17.4%
- EBITDA Margin-1.57%-109.1%
- Operating Margin-7.31%-148.1%
- Net Margin-6.63%-113.2%
- ROE-3.34%-109.4%
- ROIC-3.65%-129.1%
- Debt/Equity0.09+58.7%
AEHR Key Insights
Aehr Test Systems (AEHR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Momentum leader: RS Rating 98 (top 2%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 21.5%
- ✓Good 3Y average ROE of 18.4%
- ✓Healthy 5Y average net margin of 14.4%
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Negative free cash flow
- ✗Expensive at 22.0x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
AEHR Price & Volume
Aehr Test Systems (AEHR) stock price & volume — 10-year historical chart
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AEHR Growth Metrics
Aehr Test Systems (AEHR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years19.39%
5 Years21.48%
3 Years5.08%
TTM-20.25%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-148.62%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-148.2%
Return on Capital
10 Years-13.73%
5 Years4.53%
3 Years8.92%
Last Year-3.45%
AEHR Recent Earnings
Aehr Test Systems (AEHR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 7, 2026EPS
$0.05
Est $0.08
+37.5%
Revenue
$10M
Est $11M
-5.0%
Q1 2026
Jan 8, 2026EPS
$0.04
Est $0.08
+50.0%
Revenue
$10M
Est $12M
-14.5%
Q4 2025
Oct 6, 2025EPS
$0.01
Est $0.01
+0.0%
Revenue
$11M
Est $11M
-1.3%
Q3 2025
Jul 8, 2025EPS
$0.01
Est $0.01
+33.3%
Revenue
$14M
Est $15M
-5.0%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 7, 2026 | $0.05vs $0.08+37.5% | $10Mvs $11M-5.0% |
| Q1 2026 | Jan 8, 2026 | $0.04vs $0.08+50.0% | $10Mvs $12M-14.5% |
| Q4 2025 | Oct 6, 2025 | $0.01vs $0.01+0.0% | $11Mvs $11M-1.3% |
| Q3 2025 | Jul 8, 2025 | $0.01vs $0.01+33.3% | $14Mvs $15M-5.0% |
Based on last 12 quarters of dataView full earnings history →
AEHR Peer Comparison
Aehr Test Systems (AEHR) competitors in Semiconductor Test, Metrology and Inspection Equipment — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 COHU | 2.28B | 48.45 | -30.47 | 12.74% | -11.54% | -6.84% | 0.47% | 0.46 |
 ACLS | 4.53B | 139.70 | 36.76 | -17.57% | 14.33% | 11.62% | 2.36% | 0.04 |
 ONTO | 15.17B | 305.00 | 109.71 | 1.82% | 10.33% | 5.19% | 1.98% | 0.01 |
 ICHR | 2.35B | 67.77 | -44.01 | 11.61% | -5.28% | -7.5% | 0.28 | |
 FORM | 11.3B | 145.00 | 210.14 | 2.8% | 8.14% | 6.68% | 0.1% | 0.04 |
 KLIC | 4.78B | 91.39 | 9999 | -7.38% | -9.4% | -7.83% | 2.02% | 0.05 |
 MKSI | 19.39B | 287.65 | 65.82 | 9.62% | 7.51% | 10.85% | 2.56% | 1.73 |
 CAMT | 7.18B | 197.20 | 81.49 | 36.1% | 28.36% | 21.35% | 0.38 |
Compare AEHR vs Peers
Aehr Test Systems (AEHR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
AEHR Income Statement
Aehr Test Systems (AEHR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 18.9M | 29.55M | 21.06M | 22.29M | 16.6M | 50.83M | 64.96M | 66.22M | 58.97M | 49.03M |
| Revenue Growth % | 30.32% | 56.39% | -28.76% | 5.87% | -25.53% | 206.2% | 27.8% | 1.93% | -10.95% | -20.25% |
| Cost of Goods Sold | 12.12M | 17.17M | 13.45M | 13.92M | 10.57M | 27.16M | 32.22M | 33.67M | 35.03M | 35.53M |
| COGS % of Revenue | 64.12% | 58.09% | 63.9% | 62.45% | 63.66% | 53.44% | 49.59% | 50.85% | 59.41% | - |
| Gross Profit | 6.78M▲ 0% | 12.39M▲ 82.7% | 7.6M▼ 38.6% | 8.37M▲ 10.1% | 6.03M▼ 27.9% | 23.66M▲ 292.3% | 32.75M▲ 38.4% | 32.54M▼ 0.6% | 23.93M▼ 26.5% | 14.81M▲ 0% |
| Gross Margin % | 35.88% | 41.91% | 36.1% | 37.55% | 36.34% | 46.56% | 50.41% | 49.15% | 40.59% | 30.2% |
| Gross Profit Growth % | 31.78% | 82.68% | -38.62% | 10.12% | -27.94% | 292.32% | 38.37% | -0.62% | -26.46% | - |
| Operating Expenses | 11.71M | 11.47M | 11.88M | 10.92M | 10.21M | 15.87M | 19.37M | 22.46M | 28.25M | 30.11M |
| OpEx % of Revenue | 61.96% | 38.81% | 56.41% | 48.97% | 61.53% | 31.21% | 29.82% | 33.93% | 47.9% | - |
| Selling, General & Admin | 7.05M | 7.29M | 7.72M | 7.53M | 6.56M | 10.05M | 12.24M | 13.75M | 17.78M | 18.24M |
| SG&A % of Revenue | 37.32% | 24.67% | 36.68% | 33.78% | 39.53% | 19.77% | 18.84% | 20.76% | 30.16% | - |
| Research & Development | 4.66M | 4.18M | 4.15M | 3.39M | 3.65M | 5.82M | 7.13M | 8.72M | 10.46M | 11.65M |
| R&D % of Revenue | 24.64% | 14.15% | 19.72% | 15.19% | 22% | 11.45% | 10.98% | 13.17% | 17.74% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 219K |
| Operating Income | -4.93M▲ 0% | 915K▲ 118.6% | -4.28M▼ 567.2% | -2.54M▲ 40.5% | -4.18M▼ 64.3% | 7.8M▲ 286.5% | 13.38M▲ 71.5% | 10.08M▼ 24.7% | -4.31M▼ 142.8% | -13.61M▲ 0% |
| Operating Margin % | -26.08% | 3.1% | -20.3% | -11.42% | -25.19% | 15.35% | 20.59% | 15.22% | -7.31% | -27.76% |
| Operating Income Growth % | 19.91% | 118.56% | -567.21% | 40.47% | -64.32% | 286.51% | 71.47% | -24.65% | -142.8% | - |
| EBITDA | -4.66M | 1.33M | -3.84M | -2.16M | -3.87M | 8.11M | 13.82M | 11.44M | -925K | -10.23M |
| EBITDA Margin % | -24.65% | 4.51% | -18.26% | -9.69% | -23.33% | 15.95% | 21.28% | 17.28% | -1.57% | -20.86% |
| EBITDA Growth % | 21.73% | 128.6% | -388.59% | 43.78% | -79.18% | 309.38% | 70.53% | -17.24% | -108.09% | -464.25% |
| D&A (Non-Cash Add-back) | 271K | 417K | 431K | 384K | 310K | 307K | 450K | 1.36M | 3.39M | 2.85M |
| EBIT | -4.95M | 854K | -4.96M | -2.77M | -2.16M | 9.54M | 14.62M | 12.46M | -4.29M | -12.15M |
| Net Interest Income | -678K | -399K | -252K | 10K | -46K | 13K | 1.25M | 2.39M | 1.4M | 817K |
| Interest Income | 0 | 0 | 0 | 10K | 0 | 13K | 1.25M | 2.39M | 1.4M | 865K |
| Interest Expense | 678K | 399K | 252K | 0 | 46K | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -699K | -460K | -933K | -221K | 1.98M | 1.74M | 1.24M | 2.38M | 22K | 1.25M |
| Pretax Income | -5.63M▲ 0% | 455K▲ 108.1% | -5.21M▼ 1244.6% | -2.77M▲ 46.9% | -2.2M▲ 20.3% | 9.54M▲ 532.9% | 14.62M▲ 53.2% | 12.46M▼ 14.8% | -4.29M▼ 134.4% | -11.14M▲ 0% |
| Pretax Margin % | -29.78% | 1.54% | -24.73% | -12.41% | -13.28% | 18.77% | 22.5% | 18.81% | -7.28% | -22.72% |
| Income Tax | 25K | -73K | 27K | 36K | -177K | 91K | 60K | -20.7M | -381K | -2.28M |
| Effective Tax Rate % | -0.44% | -16.04% | -0.52% | -1.3% | 8.03% | 0.95% | 0.41% | -166.14% | 8.88% | 20.5% |
| Net Income | -5.65M▲ 0% | 528K▲ 109.3% | -5.24M▼ 1091.5% | -2.8M▲ 46.5% | -2.03M▲ 27.7% | 9.45M▲ 566.2% | 14.56M▲ 54.0% | 33.16M▲ 127.8% | -3.91M▼ 111.8% | -11.11M▲ 0% |
| Net Margin % | -29.91% | 1.79% | -24.86% | -12.57% | -12.21% | 18.59% | 22.41% | 50.07% | -6.63% | -22.66% |
| Net Income Growth % | 16.68% | 109.34% | -1091.48% | 46.48% | 27.66% | 566.21% | 54.04% | 127.77% | -111.79% | -148.62% |
| Net Income (Continuing) | -5.65M | 528K | -5.24M | -2.8M | -2.03M | 9.45M | 14.56M | 33.16M | -3.91M | -8.86M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -19K | -20K | -19K | -21K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.35▲ 0% | 0.02▲ 105.7% | -0.23▼ 1269.0% | -0.12▲ 48.7% | -0.09▲ 28.0% | 0.34▲ 493.5% | 0.50▲ 47.1% | 1.12▲ 124.0% | -0.13▼ 111.6% | -0.37▲ 0% |
| EPS Growth % | 32.69% | 105.71% | -1269% | 48.67% | 28% | 493.52% | 47.06% | 124% | -111.61% | -148.2% |
| EPS (Basic) | -0.35 | 0.02 | -0.23 | -0.12 | -0.09 | 0.36 | 0.52 | 1.15 | -0.13 | - |
| Diluted Shares Outstanding | 16.27M | 22.78M | 22.39M | 22.88M | 23.46M | 27.77M | 29.21M | 29.62M | 29.58M | 30.05M |
| Basic Shares Outstanding | 16.27M | 21.73M | 22.39M | 22.88M | 23.46M | 26.01M | 27.79M | 28.82M | 29.58M | 30.05M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
AEHR Balance Sheet
Aehr Test Systems (AEHR) balance sheet — assets, liabilities & shareholders' equity
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 29.38M | 29.46M | 20.03M | 17.65M | 19.18M | 60.01M | 89.03M | 97.85M | 88.78M | 88.19M |
| Cash & Short-Term Investments | 17.8M | 16.85M | 5.43M | 5.43M | 4.58M | 31.48M | 47.91M | 49.16M | 25.23M | 30.84M |
| Cash Only | 17.8M | 16.85M | 5.43M | 5.43M | 4.58M | 31.48M | 30.05M | 49.16M | 25.23M | 30.84M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 17.85M | 0 | 0 | 0 |
| Accounts Receivable | 4.01M | 2.86M | 4.86M | 3.72M | 5.2M | 12.86M | 16.59M | 10M | 17.79M | 10.28M |
| Days Sales Outstanding | 77.45 | 35.27 | 84.23 | 60.86 | 114.38 | 92.34 | 93.24 | 55.1 | 110.12 | 98.86 |
| Inventory | 6.6M | 9.05M | 9.06M | 7.99M | 8.85M | 15.05M | 23.91M | 37.47M | 42M | 42.72M |
| Days Inventory Outstanding | 198.92 | 192.37 | 245.82 | 209.48 | 305.63 | 202.24 | 270.88 | 406.13 | 437.53 | 433.75 |
| Other Current Assets | 961K | 703K | 686K | 512K | 0 | 613K | 621K | 1.22M | 3.76M | 4.35M |
| Total Non-Current Assets | 1.51M | 1.5M | 1.27M | 2.92M | 2.48M | 2.32M | 9.11M | 30.06M | 59.73M | 60.55M |
| Property, Plant & Equipment | 1.42M | 1.2M | 1.04M | 2.77M | 2.28M | 2.12M | 8.88M | 8.99M | 18.57M | 18.26M |
| Fixed Asset Turnover | 13.32x | 24.57x | 20.15x | 8.05x | 7.27x | 23.98x | 7.31x | 7.37x | 3.18x | 2.88x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.72M | 10.72M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.78M | 10.14M |
| Long-Term Investments | 50K | 80K | 80K | 80K | 80K | 80K | 150K | 200K | 200K | 400K |
| Other Non-Current Assets | 45K | 216K | 148K | 73K | 118K | 121K | 81K | 104K | 346K | 1.53M |
| Total Assets | 30.89M▲ 0% | 30.95M▲ 0.2% | 21.31M▼ 31.2% | 20.57M▼ 3.4% | 21.66M▲ 5.3% | 62.33M▲ 187.7% | 98.14M▲ 57.5% | 127.91M▲ 30.3% | 148.51M▲ 16.1% | 148.73M▲ 0% |
| Asset Turnover | 0.61x | 0.95x | 0.99x | 1.08x | 0.77x | 0.82x | 0.66x | 0.52x | 0.40x | 0.33x |
| Asset Growth % | 207.51% | 0.2% | -31.17% | -3.44% | 5.3% | 187.69% | 57.46% | 30.33% | 16.1% | 62.74% |
| Total Current Liabilities | 7.88M | 11.15M | 5.51M | 3.87M | 9.06M | 11.01M | 16.31M | 10.51M | 15.64M | 8.3M |
| Accounts Payable | 2.81M | 1.76M | 1.93M | 945K | 2.89M | 4.2M | 9.21M | 5.33M | 6.73M | 3.55M |
| Days Payables Outstanding | 84.58 | 37.46 | 52.44 | 24.78 | 99.92 | 56.37 | 104.31 | 57.79 | 70.09 | 52.95 |
| Short-Term Debt | 0 | 6.11M | 0 | 1.31M | 3.82M | 794K | 137K | 465K | 909K | 585K |
| Deferred Revenue (Current) | 203K | 290K | 542K | 170K | 162K | 152K | 132K | 97K | 179K | 1.15M |
| Other Current Liabilities | 3.75M | 1.84M | 1.85M | 479K | 752K | 2.95M | 3.59M | 2.12M | 5.07M | 3.73M |
| Current Ratio | 3.73x | 2.64x | 3.63x | 4.57x | 2.12x | 5.45x | 5.46x | 9.31x | 5.68x | 5.68x |
| Quick Ratio | 2.89x | 1.83x | 1.99x | 2.50x | 1.14x | 4.08x | 3.99x | 5.75x | 2.99x | 2.99x |
| Cash Conversion Cycle | 191.79 | 190.19 | 277.61 | 245.57 | 320.09 | 238.21 | 259.81 | 403.44 | 477.56 | 479.66 |
| Total Non-Current Liabilities | 6.21M | 522K | 342K | 2.65M | 1.16M | 325K | 6.24M | 5.81M | 10M | 9.65M |
| Long-Term Debt | 6.11M | 0 | 0 | 1.03M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 1.6M | 1.01M | 212K | 6.16M | 5.73M | 9.92M | 34.48M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 63K | 153K | 0 | 49K | 44K | 41K | 38K | 42K | 162K |
| Total Liabilities | 14.1M | 11.67M | 5.85M | 6.52M | 10.22M | 11.34M | 22.54M | 16.32M | 25.64M | 17.96M |
| Total Debt | 6.11M | 6.11M | 0 | 3.94M | 4.82M | 1.01M | 6.3M | 6.2M | 10.83M | 10.16M |
| Net Debt | -11.69M | -10.74M | -5.43M | -1.49M | 241K | -30.48M | -23.75M | -42.96M | -14.4M | -20.67M |
| Debt / Equity | 0.36x | 0.32x | - | 0.28x | 0.42x | 0.02x | 0.08x | 0.06x | 0.09x | 0.09x |
| Debt / EBITDA | - | 4.59x | - | - | - | 0.12x | 0.46x | 0.54x | - | -0.99x |
| Net Debt / EBITDA | - | -8.06x | - | - | - | -3.76x | -1.72x | -3.76x | - | 2.02x |
| Interest Coverage | -7.27x | 2.29x | -16.96x | - | -90.91x | - | - | - | - | - |
| Total Equity | 16.79M▲ 0% | 19.29M▲ 14.8% | 15.45M▼ 19.9% | 14.06M▼ 9.0% | 11.45M▼ 18.5% | 50.99M▲ 345.4% | 75.6M▲ 48.3% | 111.59M▲ 47.6% | 122.87M▲ 10.1% | 130.78M▲ 0% |
| Equity Growth % | 2422.82% | 14.83% | -19.87% | -9.04% | -18.55% | 345.36% | 48.27% | 47.61% | 10.11% | 59.8% |
| Book Value per Share | 1.03 | 0.85 | 0.69 | 0.61 | 0.49 | 1.84 | 2.59 | 3.77 | 4.15 | 4.35 |
| Total Shareholders' Equity | 16.81M | 19.3M | 15.47M | 14.08M | 11.45M | 50.99M | 75.6M | 111.59M | 122.87M | 130.78M |
| Common Stock | 213K | 221K | 227K | 231K | 237K | 271K | 285K | 289K | 299K | 306K |
| Retained Earnings | -66.78M | -66.25M | -71.48M | -74.29M | -76.31M | -66.86M | -52.31M | -19.15M | -23.06M | -28.37M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2.25M | 2.29M | 2.23M | 2.23M | -28K | -105K | -155K | -158K | -126K | -110K |
| Minority Interest | -19K | -20K | -19K | -21K | 0 | 0 | 0 | 0 | 0 | 0 |
AEHR Cash Flow Statement
Aehr Test Systems (AEHR) cash flow — operating, investing & free cash flow history
| Line item | May'17 | May'18 | May'19 | May'20 | May'21 | May'22 | May'23 | May'24 | May'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -4.5M | -1.35M | -5.64M | -2.02M | -2.7M | 1.51M | 10.01M | 1.76M | -7.4M | -7.4M |
| Operating CF Margin % | -23.79% | -4.57% | -26.77% | -9.08% | -16.27% | 2.97% | 15.41% | 2.65% | -12.55% | - |
| Operating CF Growth % | 28.43% | 69.94% | -317.25% | 64.09% | -33.45% | 155.83% | 563.86% | -82.46% | -521.41% | -280.35% |
| Net Income | -5.65M | 528K | -5.24M | -2.8M | -2.03M | 9.45M | 14.56M | 33.16M | -3.91M | -11.11M |
| Depreciation & Amortization | 271K | 417K | 431K | 384K | 310K | 307K | 450K | 1.36M | 3.39M | 3.72M |
| Stock-Based Compensation | 999K | 996K | 905K | 910K | 0 | 3.01M | 0 | 2.52M | 5.16M | 8.4M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -20.77M | -421K | -2.29M |
| Other Non-Cash Items | 201K | -58K | -3K | 45K | -1.3M | -1.7M | 2.28M | -130K | 584K | -569K |
| Working Capital Changes | -313K | -3.23M | -1.74M | -561K | 316K | -9.56M | -7.28M | -14.38M | -12.2M | -5.98M |
| Change in Receivables | -3.51M | 1.26M | -2.04M | 1.16M | -1.37M | -7.83M | -3.79M | 6.79M | -3.04M | -2.86M |
| Change in Inventory | 430K | -2.07M | -112K | 1.16M | -972K | -6.67M | -9.47M | -13.73M | -2.44M | 543K |
| Change in Payables | 1.69M | -1.09M | 210K | -1.02M | 1.88M | 1.36M | 5.04M | -3.89M | -714K | -948K |
| Cash from Investing | -477K | -572K | -173K | -163K | -227K | -416K | -18.66M | 17.25M | -16.07M | -8.59M |
| Capital Expenditures | -477K | -572K | -173K | -163K | -227K | -416K | -1.36M | -749K | -4.99M | -6.33M |
| CapEx % of Revenue | 2.52% | 1.94% | 0.82% | 0.73% | 1.37% | 0.82% | 2.1% | 1.13% | 8.47% | - |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11.07M | -2.26M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 21.84M | 925K | -5.55M | 2.17M | 1.96M | 25.76M | 7.32M | 139K | 625K | 9.76M |
| Debt Issued (Net) | 0 | 0 | -6.11M | 1.68M | 1.4M | -1.4M | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 1000K | 925K | 559K | 493K | 560K | 1000K | 1000K | 139K | 625K | 979K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -10K | -20K | -429K | -2.06M | -1.6M | -784K | -1.26M |
| Other Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.07M |
| Net Change in Cash | 16.86M▲ 0% | -955K▼ 105.7% | -11.42M▼ 1095.8% | 5K▲ 100.0% | -851K▼ 17120.0% | 26.9M▲ 3261.2% | -1.43M▼ 105.3% | 19.11M▲ 1436.0% | -23.93M▼ 225.3% | -333K▲ 0% |
| Free Cash Flow | -4.97M▲ 0% | -1.92M▲ 61.3% | -5.81M▼ 202.1% | -2.19M▲ 62.4% | -2.93M▼ 33.9% | 1.09M▲ 137.3% | 8.65M▲ 692.0% | 1.01M▼ 88.4% | -12.39M▼ 1330.6% | -13.77M▲ 0% |
| FCF Margin % | -26.31% | -6.51% | -27.59% | -9.81% | -17.64% | 2.15% | 13.31% | 1.52% | -21.01% | -28.08% |
| FCF Growth % | 30.94% | 61.32% | -202.13% | 62.36% | -33.88% | 137.3% | 692.03% | -88.36% | -1330.59% | -125.89% |
| FCF per Share | -0.31 | -0.08 | -0.26 | -0.10 | -0.12 | 0.04 | 0.30 | 0.03 | -0.42 | -0.42 |
| FCF Conversion (FCF/Net Income) | 0.80x | -2.56x | 1.08x | 0.72x | 1.33x | 0.16x | 0.69x | 0.05x | 1.89x | 1.24x |
| Interest Paid | 0 | 0 | 0 | 0 | 6K | 12K | 15K | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 15K | 4K | 21K | 90K | 100K | 0 |
AEHR Key Ratios
Aehr Test Systems (AEHR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -70.35% | 2.93% | -30.14% | -18.99% | -15.89% | 30.27% | 23% | 35.42% | -3.34% | -8.5% |
| Return on Invested Capital (ROIC) | -78.65% | 10.06% | -34.53% | -16.9% | -25.86% | 36.33% | 27.73% | 12.55% | -3.65% | -2.98% |
| Gross Margin | 35.88% | 41.91% | 36.1% | 37.55% | 36.34% | 46.56% | 50.41% | 49.15% | 40.59% | 30.2% |
| Net Margin | -29.91% | 1.79% | -24.86% | -12.57% | -12.21% | 18.59% | 22.41% | 50.07% | -6.63% | -22.66% |
| Debt / Equity | 0.36x | 0.32x | - | 0.28x | 0.42x | 0.02x | 0.08x | 0.06x | 0.09x | 0.09x |
| Interest Coverage | -7.27x | 2.29x | -16.96x | - | -90.91x | - | - | - | - | - |
| FCF Conversion | 0.80x | -2.56x | 1.08x | 0.72x | 1.33x | 0.16x | 0.69x | 0.05x | 1.89x | 1.24x |
| Revenue Growth | 30.32% | 56.39% | -28.76% | 5.87% | -25.53% | 206.2% | 27.8% | 1.93% | -10.95% | -20.25% |
AEHR SEC Filings & Documents
Aehr Test Systems (AEHR) SEC filings — annual & quarterly reports (10-K, 10-Q)
AEHR Frequently Asked Questions
Aehr Test Systems (AEHR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Aehr Test Systems (AEHR) reported $49.0M in revenue for fiscal year 2025. This represents a 17% increase from $42.0M in 1997.
Aehr Test Systems (AEHR) grew revenue by 0.0% over the past year. Growth has been modest.
Aehr Test Systems (AEHR) reported a net loss of $11.1M for fiscal year 2025.
Dividend & Returns
Aehr Test Systems (AEHR) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.
Aehr Test Systems (AEHR) had negative free cash flow of $13.8M in fiscal year 2025, likely due to heavy capital investments.
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