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Aehr Test Systems, Inc. AEHR R2KR3KAITECH

Technology · Semiconductor Equipment & Materials · United States
Financial distress score 37/100 (Watch) — see indicators →
https://www.aehr.com
Company Profile ↓
$55.31
+174.36% 1Y
Mkt Cap$1.81B
P/E-240.48
P/B12.52
52W High$145.61
52W Low$17.38
Book Value$6.76
EPS (TTM)$-0.23

Company Overview

Aehr Test Systems, Inc. provides test solutions for testing, burn-in, and semiconductor devices at wafer level, singulated die, and package level in the United States, Asia, Europe, and the Middle East. The company offers FOX-XP and FOX-NP systems, which are full wafer contact and singulated die/module test and burn-in systems that test, burn-in, and stabilize a range of devices, including silicon carbide-based (SIC) and gallium nitride (GAN) power semiconductors; 2D and 3D sensors used in mobile phones, tablets, and other computing devices; memory semiconductors; processors; microcontrollers; systems-on-a-chip; and photonics and integrated optical devices used in AI. It also provides the FOX-CP system, a single-wafer compact test solution for logic, memory, and photonic devices; and the FOX WaferPak Contactor, a full wafer contactor capable of testing wafers up to 300mm that enables integrated circuit manufacturers to perform test, burn-in, and stabilization of full wafers on the FOX-P systems. In addition, the company offers the FOX DiePak Carrier, which allows testing, burn-in, and stabilization of singulated bare die and modules; FOX WaferPak Aligner; and FOX DiePak Loader. Further, it provides system installation and repair, applications engineering support, spare parts inventories, customer training, and documentation services. The company sells its products in the United States, Germany, Japan, the Philippines, and Taiwan through distributors and sales representatives. It serves semiconductor manufacturers, semiconductor contract assemblies, electronics manufacturers, and burn-in and test service companies. Aehr Test Systems, Inc. was incorporated in 1977 and is headquartered in Fremont, California.

Why Investors Should Care

Steady Revenue Expansion

Revenue has grown at a 10.2% CAGR over the past five years.

Recent Developments

  • May 2026 Revenue of $50.00M (-15.2% YoY); net profit $-7.13M.
  • Trailing 12 Months Year-on-year growth — revenue +33.7%.
  • 5-Year Trend Long-term compounding — revenue CAGR 10.2%.

Growth & Price Performance

Compounded Sales Growth

5 Years:10.18%
1 Year:33.70%

Stock Price Performance

1 Year:+174.36%
6 Months:-42.33%
3 Months:-28.61%
1 Month:-43.23%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI Semiconductor Equipment / AI Chip Test & Burn-In

Aehr Test Systems makes wafer-level test and burn-in equipment used to qualify the power semiconductors and AI processors that need reliability screening.

Core Focus

FOX wafer-level test, burn-in and stabilisation systems for silicon-carbide power devices, processors and photonics — including emerging AI-processor burn-in.

Key Initiatives
  • AI-processor burn-in Aehr is extending its wafer-level burn-in systems to test AI processors, which increasingly require reliability screening.
  • Silicon-carbide test FOX systems test and stabilise silicon-carbide power devices used in EVs and power electronics.
  • WaferPak/DiePak consumables Contactor consumables provide recurring revenue across the installed base.
Why Investors Should Care
  • Niche test/burn-in supplier diversifying from silicon-carbide into AI-processor burn-in.
  • Consumable contactors add recurring revenue.
  • Revenue recently fell sharply (~-44%) and the company is loss-making — highly cyclical.
  • Extreme customer concentration and a very high P/E on trough earnings are key risks.
AI InvestmentInvestment targets extending wafer-level burn-in to AI processors alongside silicon-carbide test.
AI RevenueNo AI-specific revenue is disclosed yet; AI-processor burn-in is an emerging opportunity beyond the silicon-carbide base.
ROI (Now)Early/indirect — current revenue is dominated by power-device test amid a sharp downcycle.
ROI (Expected)Adoption of wafer-level burn-in for AI processors is the key potential growth driver.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

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Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Compounding revenue at 10.2% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading 62.0% below its 52-week high.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
-240.48
Industry PE
30.29
Forward P/E
39.98
PEG Ratio
0.87
Book Value
$6.76
Price to Book
12.52
P/S
55.28
EV/EBITDA
-247.60
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
10.18%
Profit 5Y
-
Revenue (YoY)
33.70%
Earnings (YoY)
-

Profitability & Returns

ROCE
-6.18%
ROE
-4.16%
ROA
-4.47%
Profit Margin
-14.25%
Op Margin
-6.40%
Gross Margin
35.30%
EPS (Latest Qtr)
$0.04
EPS (TTM)
$-0.23

Balance Sheet & Liquidity

Debt/Equity
4.50
Quick Ratio
7.60
Current Ratio
10.33
Debt
$9.88M
Total Assets
$246.69M
Current Assets
$184.45M
Working Capital
$166.59M

Ownership

Promoter Holding
3.30%
Chg in Prom Hold
-0.55%
FII / Inst Holding
76.24%
Chg in FII Hold
0.32%

Financial Snapshot

Enterprise Value
$1.81B
Total Revenue (TTM)
$50.00M
EBITDA
$-11.34M
Free Cash Flow
$-1.96M
Operating Cash Flow
$-3.31M
Shares Outstanding
32.66M
Gross Margin
35.30%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 AEHR Aehr Test Systems, Inc. R2KR3KAITECH 55.31 -240.48 $1.81B 0.00% -6.18% -4.16% 10.18% -
2 NVDA NVIDIA Corporation NDXSPXR3KAITECH 210.96 26.64 $5.09T 0.46% 74.66% 117.21% 24.64% 32.12%
3 AAPL Apple Inc. NDXSPXR3KTECH 347.72 39.88 $5.07T 0.32% 68.72% 148.75% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXR3KAITECH 524.51 29.19 $3.89T 0.79% 26.33% 34.04% 9.93% 11.90%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AITECH 418.51 31.19 $2.17T 0.95% 30.20% 39.97% 18.94% 19.57%
6 AVGO Broadcom Inc. NDXSPXR3KAITECH 321.68 41.08 $1.54T 0.72% 16.70% 44.25% 17.04% 54.08%
7 MU Micron Technology, Inc. NDXSPXR3KAITECH 877.55 19.82 $991.10B 0.05% 13.69% 66.64% 13.68% 26.02%
8 AMD Advanced Micro Devices, Inc. NDXSPXR3KAITECH 516.79 131.83 $843.65B 0.00% 5.47% 10.20% 11.81% 66.28%
9 ASML ASML Holding N.V. NDXAITECH 1,571.80 51.02 $603.73B 0.50% 42.97% 53.94% 15.55% 19.55%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Feb 2016May 2016Aug 2016Nov 2016Feb 2017May 2017Aug 2017Nov 2017Feb 2018May 2018Aug 2018Nov 2018Feb 2019May 2019Aug 2019Nov 2019Feb 2020May 2020Aug 2020Nov 2020Feb 2021May 2021Aug 2021Nov 2021Feb 2022May 2022Aug 2022Nov 2022Feb 2023Aug 2023Nov 2023Feb 2024Aug 2024Nov 2024Feb 2025May 2025Aug 2025Nov 2025Feb 2026May 2026
Revenue ------6.97M7.92M7.39M-4.74M5.91M3.16M-5.53M6.87M6.11M-2.01M1.68M5.27M-5.65M9.61M15.28M-10.67M14.81M17.21M20.62M21.43M7.56M13.12M--14.09M10.97M9.88M10.31M18.84M
Cost of Revenue -----------------------------------9.82M7.25M7.34M6.95M10.82M
Gross Profit 169.00K-98.00K2.21M1.46M503.00K2.61M2.92M3.13M3.18M3.16M1.55M2.40M272.00K3.38M2.27M3.20M2.99M-93.00K227.00K377.00K1.89M3.53M2.28M4.52M6.40M10.47M4.48M7.91M8.88M9.98M10.96M3.16M7.08M--4.27M3.72M2.54M3.37M8.02M
Operating Expenses -----------------------------------6.61M7.57M7.41M7.60M9.22M
Operating Income -2.82M--570.00K-1.28M-2.47M-172.00K187.00K307.00K--1.44M-565.00K-3.12M--429.00K250.00K255.00K--2.19M-1.94M-652.00K--993.00K717.00K2.26M-458.00K3.48M3.79M4.12M5.47M-2.05M159.00K---2.34M-3.85M-4.86M-4.23M-1.21M
EBITDA ------------------------------------1.32M-2.92M-3.99M-3.37M-329.00K
Interest Expense ----------------------------------------
Pretax Income ------------------------------------2.99M-2.84M-4.44M-4.00M-455.00K
Tax Provision ------------------------------------87.00K-752.00K-1.21M-798.00K-1.85M
Net Income -2.98M-3.06M-755.00K-1.45M-2.65M-795.00K10.00K60.00K267.00K191.00K-1.51M-629.00K-3.20M110.00K-413.00K251.00K245.00K-2.88M107.00K-1.97M-735.00K567.00K696.00K717.00K2.24M5.79M589.00K3.73M4.13M4.67M6.09M-1.47M660.00K---2.90M-2.08M-3.23M-3.20M1.39M
Diluted EPS -0.23--0.06-0.09-0.16-0.000.000.01--0.07-0.03-0.14--0.020.010.01-0.00-0.08-0.03-0.030.030.080.200.020.130.140.160.20-0.050.02---0.10-0.07-0.11-0.100.04
R&D Expense 1.29M-1.06M1.04M1.25M-955.00K1.09M1.04M-1.12M986.00K931.00K-892.00K795.00K845.00K-900.00K820.00K903.00K-1.32M1.31M1.53M-1.50M1.55M1.83M2.46M1.97M2.14M2.36M2.28M3.14M-2.85M2.97M3.17M-

Profit & Loss (Annual)

Figures in USD.

Metric May 2010May 2011May 2012May 2013May 2014May 2015May 2016May 2017May 2018May 2019May 2020May 2021May 2022May 2023May 2024May 2025May 2026
Revenue 11.67M13.74M15.52M16.49M19.68M10.02M14.50M18.90M29.55M21.06M22.29M16.60M-64.96M66.22M58.97M50.00M
Cost of Revenue -------------32.22M33.67M35.03M32.35M
Gross Profit 6.10M5.51M6.21M6.78M10.22M3.84M5.14M6.78M12.39M7.60M8.37M6.03M-32.75M32.54M23.93M17.65M
Operating Expenses -------------19.37M22.46M28.75M31.79M
Operating Income -756.00K-4.19M-4.51M-3.31M497.00K-6.69M-6.15M-4.93M915.00K-5.00M-2.77M-4.18M-13.38M10.08M-4.81M-14.14M
EBITDA -------------14.47M11.44M-1.43M-10.61M
Interest Expense -----------------
Pretax Income -------------14.62M12.46M-4.29M-11.74M
Tax Provision -------------60.00K-20.70M-381.00K-4.61M
Net Income -481.00K-3.39M-3.39M-3.42M422.00K-6.65M-6.79M-5.65M528.00K-5.24M-2.80M-2.03M-14.56M33.16M-3.91M-7.13M
Diluted EPS -0.06-0.39-0.38-0.360.04-0.55-0.52-0.350.02-0.23-0.12-0.090.340.501.12--
R&D Expense 4.76M4.57M4.19M3.21M3.40M4.06M4.32M4.66M4.18M4.15M3.39M3.65M5.82M7.13M8.72M10.46M-

Balance Sheet (Annual)

Figures in USD.

Metric May 2009May 2010May 2011May 2012May 2013May 2014May 2015May 2016May 2017May 2018May 2019May 2020May 2021May 2022May 2023May 2024May 2025May 2026
Total Assets --12.08M11.61M10.97M12.22M14.87M10.05M30.89M30.95M21.31M20.57M21.66M-98.14M127.91M148.51M246.69M
Current Assets --------------89.03M97.85M88.78M184.45M
Cash & Equivalents 4.36M7.77M4.02M2.07M2.32M1.81M5.53M939.00K17.80M16.85M5.43M5.43M4.58M-30.05M49.16M24.53M116.36M
Inventory --------------23.91M37.47M42.00M41.35M
Receivables --------------16.59M9.80M14.19M17.47M
Total Liabilities --2.98M5.16M5.98M5.20M10.32M10.77M14.10M11.67M5.85M6.52M10.22M-22.54M16.32M25.64M27.18M
Current Liabilities --2.54M4.81M5.70M5.12M6.52M4.68M7.88M11.15M5.51M3.87M9.06M-16.31M10.51M15.64M17.86M
Long Term Debt -----03.79M5.96M6.11M001.03M0-----
Total Debt --------------6.30M6.20M10.83M9.88M
Total Equity 9.96M11.28M9.10M6.48M5.01M7.05M4.57M-703.00K16.81M19.30M15.47M14.06M11.45M-75.60M111.59M122.87M219.51M
Shares Outstanding --------------28.54M29.00M29.88M32.48M

Cash Flows (Annual)

Figures in USD.

Metric May 2010May 2011May 2012May 2013May 2014May 2015May 2016May 2017May 2018May 2019May 2020May 2021May 2022May 2023May 2024May 2025May 2026
Operating Cash Flow 3.25M-4.14M-4.88M-310.00K-607.00K-2.26M-6.28M-4.50M-1.35M-5.64M-2.02M-2.70M-10.01M1.76M-7.40M-3.31M
Investing Cash Flow -69.00K-15.00K1.33M-127.00K-289.00K-118.00K-919.00K-477.00K-572.00K-173.00K-163.00K-227.00K--18.66M17.25M-16.07M-3.87M
Financing Cash Flow 176.00K343.00K1.58M1.06M391.00K6.41M2.51M21.84M925.00K-5.55M2.17M1.96M-7.32M139.00K625.00K97.21M
Capital Expenditure -69.00K-15.00K-45.00K-127.00K-339.00K-118.00K-919.00K-477.00K-572.00K-173.00K-163.00K-227.00K--1.36M-749.00K-4.99M-2.07M
Free Cash Flow 3.18M-4.16M-4.92M-437.00K-946.00K-2.37M-7.20M-4.97M-1.92M-5.81M-2.19M-2.93M-8.65M1.01M-12.39M-5.38M
Net Change in Cash --------------1.32M19.15M-22.84M90.03M

Ratios (Annual)

Figures in %.

Metric May 2010May 2011May 2012May 2013May 2014May 2015May 2016May 2017May 2018May 2019May 2020May 2021May 2022May 2023May 2024May 2025May 2026
Gross Margin % 52.3%40.1%40.0%41.1%51.9%38.3%35.5%35.9%41.9%36.1%37.6%36.3%-50.4%49.1%40.6%35.3%
Operating Margin % -6.5%-30.5%-29.0%-20.1%2.5%-66.8%-42.4%-26.1%3.1%-23.7%-12.4%-25.2%-20.6%15.2%-8.2%-28.3%
Net Margin % -4.1%-24.7%-21.8%-20.7%2.1%-66.4%-46.8%-29.9%1.8%-24.9%-12.6%-12.2%-22.4%50.1%-6.6%-14.3%
ROE % -4.3%-37.2%-52.3%-68.2%6.0%-145.5%965.1%-33.6%2.7%-33.8%-19.9%-17.7%-19.3%29.7%-3.2%-3.2%
ROCE % --43.9%-66.2%-62.7%7.0%-80.2%-114.7%-21.4%4.6%-31.7%-16.5%-33.2%-16.3%8.6%-3.6%-6.2%

Shareholding Pattern

Insiders
3.30%
Institutions
76.24%
Public Float
78.84%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 8.14% 2.66M $225.10M
2 Vanguard Capital Management LLC 4.04% 1.32M $111.75M
3 Shaw D.E. & Co., Inc. 3.61% 1.18M $99.66M
4 Two Sigma Investments, LP 3.57% 1.16M $98.57M
5 FMR, LLC 3.08% 1.01M $85.22M
6 Vanguard Portfolio Management LLC 2.96% 966.66K $81.82M
7 Geode Capital Management, LLC 2.68% 875.50K $74.10M
8 Goldman Sachs Group Inc 2.48% 810.04K $68.56M
9 Jane Street Group, LLC 2.31% 753.52K $63.78M
10 JPMORGAN CHASE & CO 2.24% 732.55K $62.00M

Analyst View

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Latest News

Recent headlines for AEHR

Yahoo Finance Mon, 19 Oct 2026

Is Aehr Test Systems (AEHR) Stock Too Expensive After Its AI Order?

Aehr Test Systems has seen its share price swing sharply, with a very strong multi year run now followed by a steep pullback. This puts fresh focus on whether the current valuation is supported by its sales. With the stock moving so quickly…

Yahoo Finance ue, 13 Oct 2026

Implied Volatility Surging for Aehr Stock Options

Investors need to pay close attention to AEHR stock based on the movements in the options market lately.

Yahoo Finance hu, 08 Oct 2026

Aehr Test Systems to Announce First Quarter Fiscal 2027 Financial Results on November 2, 2026

FREMONT, CA / ACCESS Newswire / October 8, 2026 / (NASDAQ:AEHR), a leading provider of test and burn-in solutions for semiconductor devices used in artificial intelligence (AI), silicon photonics, data center, automotive, and industrial app…

Yahoo Finance Wed, 07 Oct 2026

Aehr Receives Follow-On Sonoma(TM) Production Orders for Lead Hyperscale Customer's Next-Generation AI Processor

The orders include additional Sonoma™ high-power package-level test and burn-in systems, fully turnkey burn-in modules (BIMs) and device-specific sockets, as well as production software enhancements. The systems and consumables will be depl…

Yahoo Finance Wed, 30 Sep 2026

AEHR vs. CAMT: Which Semiconductor Equipment Stock Is the Better Bet?

Aehr's AI-driven burn-in demand, record backlog and sharp fiscal 2027 growth outlook strengthen its case over Camtek despite a richer valuation.

Yahoo Finance Mon, 28 Sep 2026

Aehr Test Systems to Participate in 18th Annual CEO Investor Summit 2026 in San Francisco

FREMONT, CA / ACCESS Newswire / September 28, 2026 / (NASDAQ:AEHR), a leading provider of test and burn-in solutions for semiconductor devices used in artificial intelligence (AI), silicon photonics, data center, automotive, and industrial …

AEHR — Frequently Asked Questions

What is the current share price of Aehr Test Systems, Inc. (AEHR)?

As of 2026-10-23 16:27 PDT, Aehr Test Systems, Inc. (AEHR) trades at $55.31 on NasdaqCM. Its 52-week range is $17.38 to $145.61.

What is the market capitalisation of AEHR?

Aehr Test Systems, Inc. (AEHR) has a market capitalisation of $1.81B on NasdaqCM.

What is the P/E ratio of AEHR?

AEHR trades at a trailing price-to-earnings (P/E) ratio of -240.48. The industry average P/E is 30.29. Its price-to-book (P/B) ratio is 12.52.

What is the return on equity (ROE) of AEHR?

AEHR has a return on equity (ROE) of -4.16%. Its return on capital employed (ROCE) is -6.18%.

Is AEHR a good stock to buy?

This page provides a data-driven analysis of Aehr Test Systems, Inc. (AEHR), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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