Aehr Test Systems, Inc. AEHR R2KAI
Company Overview
Aehr Test Systems, Inc. provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, package part form, and installed systems in the United States, Asia, and Europe. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that test, burn-in, and stabilize range of devices, including silicon carbide-based and other 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. The company offers FOX-CP system, a low-cost single-wafer compact test solution for logic, memory, and photonic devices; and 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, it provides FOX DiePak Carrier, which allows testing, burning in, and stabilization of singulated bare die and modules; and FOX DiePak Loader. The company was incorporated in 1977 and is headquartered in Fremont, California.
Why Investors Should Care
Carries low leverage with a debt-to-equity ratio of 0.07.
Recent Developments
- May 2025 Revenue of $58.97M (-10.9% YoY); net profit $-3.91M.
- Trailing 12 Months Year-on-year growth — revenue -43.7%, earnings -111.8%.
- 5-Year Trend Long-term compounding — revenue CAGR 5.1%, profit CAGR -47.1%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 5.08% |
| 1 Year: | -43.70% |
Compounded Profit Growth
| 5 Years: | -47.13% |
| 1 Year: | -111.79% |
Stock Price Performance
| 1 Year: | +533.41% |
| 6 Months: | +233.17% |
| 3 Months: | +18.03% |
| 1 Month: | -19.07% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
Aehr Test Systems makes wafer-level test and burn-in equipment used to qualify the power semiconductors and AI processors that need reliability screening.
FOX wafer-level test, burn-in and stabilisation systems for silicon-carbide power devices, processors and photonics — including emerging AI-processor burn-in.
- 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.
- 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.
Curated from public filings and analyst commentary; figures are illustrative.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
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
- In a confirmed uptrend (50-DMA above 200-DMA).
CONS
- Earnings shrank at -47.1% CAGR over 5 years.
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | AEHR Aehr Test Systems, Inc. R2KAI | 87.79 | -231.03 | $2.76B | 0.00% | -3.62% | -8.68% | 5.08% | -47.13% |
| 2 | NVDA NVIDIA Corporation NDXSPXAI | 212.50 | 32.59 | $5.15T | 0.47% | 74.66% | 114.29% | 24.64% | 32.12% |
| 3 | AAPL Apple Inc. NDXSPX | 327.50 | 39.60 | $4.81T | 0.37% | 68.72% | 141.47% | 1.81% | 3.92% |
| 4 | MSFT Microsoft Corporation NDXSPXAI | 395.63 | 23.96 | $2.94T | 0.95% | 26.90% | 34.01% | 9.48% | 10.85% |
| 5 | TSM Taiwan Semiconductor Manufacturing Company Limited AI | 419.48 | 36.41 | $2.18T | 0.90% | 30.20% | 36.21% | 18.94% | 19.57% |
| 6 | AVGO Broadcom Inc. NDXSPXAI | 394.28 | 64.96 | $1.88T | 0.68% | 16.70% | 37.28% | 24.38% | 26.24% |
| 7 | MU Micron Technology, Inc. NDXSPXAI | 904.28 | 20.44 | $1.02T | 0.05% | 13.69% | 66.64% | 13.68% | 26.02% |
| 8 | AMD Advanced Micro Devices, Inc. NDXSPXAI | 529.14 | 172.36 | $862.82B | 0.00% | 6.33% | 8.06% | 13.64% | 48.64% |
| 9 | ASML ASML Holding N.V. NDXAI | 1,815.27 | 59.79 | $699.64B | 0.51% | 42.97% | 52.24% | 15.55% | 19.55% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Nov 2015 | Feb 2016 | May 2016 | Aug 2016 | Nov 2016 | Feb 2017 | May 2017 | Aug 2017 | Nov 2017 | Feb 2018 | May 2018 | Aug 2018 | Nov 2018 | Feb 2019 | May 2019 | Aug 2019 | Nov 2019 | Feb 2020 | May 2020 | Aug 2020 | Nov 2020 | Feb 2021 | May 2021 | Aug 2021 | Nov 2021 | Feb 2022 | May 2022 | Aug 2022 | Nov 2022 | Feb 2023 | Aug 2023 | Nov 2023 | Feb 2024 | Aug 2024 | Nov 2024 | Feb 2025 | May 2025 | Aug 2025 | Nov 2025 | Feb 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | 6.97M | 7.92M | 7.39M | - | 4.74M | 5.91M | 3.16M | - | 5.53M | 6.87M | 6.11M | - | 2.01M | 1.68M | 5.27M | - | 5.65M | 9.61M | 15.28M | - | 10.67M | 14.81M | 17.21M | 20.62M | 21.43M | 7.56M | 13.12M | - | 18.31M | 14.09M | 10.97M | 9.88M | 10.31M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 11.12M | 9.82M | 7.25M | 7.34M | 6.95M |
| Gross Profit | 1.69M | 169.00K | -98.00K | 2.21M | 1.46M | 503.00K | 2.61M | 2.92M | 3.13M | 3.18M | 3.16M | 1.55M | 2.40M | 272.00K | 3.38M | 2.27M | 3.20M | 2.99M | -93.00K | 227.00K | 377.00K | 1.89M | 3.53M | 2.28M | 4.52M | 6.40M | 10.47M | 4.48M | 7.91M | 8.88M | 9.98M | 10.96M | 3.16M | 7.08M | - | 7.18M | 4.27M | 3.72M | 2.54M | 3.37M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8.30M | 6.61M | 7.57M | 7.41M | 7.60M |
| Operating Income | -945.00K | -2.82M | - | -570.00K | -1.28M | -2.47M | - | 172.00K | 187.00K | 307.00K | - | -1.44M | -565.00K | -3.12M | - | -429.00K | 250.00K | 255.00K | - | -2.19M | -1.94M | -652.00K | - | -993.00K | 717.00K | 2.26M | - | 458.00K | 3.48M | 3.79M | 4.12M | 5.47M | -2.05M | 159.00K | - | -1.12M | -2.34M | -3.85M | -4.86M | -4.23M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -210.00K | -1.32M | -2.92M | -3.99M | -3.37M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -874.00K | -2.99M | -2.84M | -4.44M | -4.00M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -231.00K | -87.00K | -752.00K | -1.21M | -798.00K |
| Net Income | -1.05M | -2.98M | -3.06M | -755.00K | -1.45M | -2.65M | -795.00K | 10.00K | 60.00K | 267.00K | 191.00K | -1.51M | -629.00K | -3.20M | 110.00K | -413.00K | 251.00K | 245.00K | -2.88M | 107.00K | -1.97M | -735.00K | 567.00K | 696.00K | 717.00K | 2.24M | 5.79M | 589.00K | 3.73M | 4.13M | 4.67M | 6.09M | -1.47M | 660.00K | - | -643.00K | -2.90M | -2.08M | -3.23M | -3.20M |
| Diluted EPS | -0.08 | -0.23 | - | -0.06 | -0.09 | -0.16 | - | 0.00 | 0.00 | 0.01 | - | -0.07 | -0.03 | -0.14 | - | -0.02 | 0.01 | 0.01 | - | 0.00 | -0.08 | -0.03 | - | 0.03 | 0.03 | 0.08 | 0.20 | 0.02 | 0.13 | 0.14 | 0.16 | 0.20 | -0.05 | 0.02 | - | -0.02 | -0.10 | -0.07 | -0.11 | -0.10 |
| R&D Expense | 923.00K | 1.29M | - | 1.06M | 1.04M | 1.25M | - | 955.00K | 1.09M | 1.04M | - | 1.12M | 986.00K | 931.00K | - | 892.00K | 795.00K | 845.00K | - | 900.00K | 820.00K | 903.00K | - | 1.32M | 1.31M | 1.53M | - | 1.50M | 1.55M | 1.83M | 2.46M | 1.97M | 2.14M | 2.36M | 2.28M | 3.14M | - | 2.85M | 2.97M | 3.17M |
Profit & Loss (Annual)
Figures in USD.
| Metric | May 2010 | May 2011 | May 2012 | May 2013 | May 2014 | May 2015 | May 2016 | May 2017 | May 2018 | May 2019 | May 2020 | May 2021 | May 2022 | May 2023 | May 2024 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 11.67M | 13.74M | 15.52M | 16.49M | 19.68M | 10.02M | 14.50M | 18.90M | 29.55M | 21.06M | 22.29M | 16.60M | 50.83M | 64.96M | 66.22M | 58.97M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | 27.16M | 32.22M | 33.67M | 35.03M |
| Gross Profit | 6.10M | 5.51M | 6.21M | 6.78M | 10.22M | 3.84M | 5.14M | 6.78M | 12.39M | 7.60M | 8.37M | 6.03M | 23.66M | 32.75M | 32.54M | 23.93M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | 15.87M | 19.37M | 22.46M | 28.75M |
| Operating Income | -756.00K | -4.19M | -4.51M | -3.31M | 497.00K | -6.69M | -6.15M | -4.93M | 915.00K | -5.00M | -2.77M | -4.18M | 7.80M | 13.38M | 10.08M | -4.81M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | 8.85M | 14.47M | 11.44M | -1.43M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | 9.54M | 14.62M | 12.46M | -4.29M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | 91.00K | 60.00K | -20.70M | -381.00K |
| Net Income | -481.00K | -3.39M | -3.39M | -3.42M | 422.00K | -6.65M | -6.79M | -5.65M | 528.00K | -5.24M | -2.80M | -2.03M | 9.45M | 14.56M | 33.16M | -3.91M |
| Diluted EPS | -0.06 | -0.39 | -0.38 | -0.36 | 0.04 | -0.55 | -0.52 | -0.35 | 0.02 | -0.23 | -0.12 | -0.09 | 0.34 | 0.50 | 1.12 | - |
| R&D Expense | 4.76M | 4.57M | 4.19M | 3.21M | 3.40M | 4.06M | 4.32M | 4.66M | 4.18M | 4.15M | 3.39M | 3.65M | 5.82M | 7.13M | 8.72M | 10.46M |
Balance Sheet (Annual)
Figures in USD.
| Metric | May 2009 | May 2010 | May 2011 | May 2012 | May 2013 | May 2014 | May 2015 | May 2016 | May 2017 | May 2018 | May 2019 | May 2020 | May 2021 | May 2022 | May 2023 | May 2024 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 12.08M | 11.61M | 10.97M | 12.22M | 14.87M | 10.05M | 30.89M | 30.95M | 21.31M | 20.57M | 21.66M | 62.33M | 98.14M | 127.91M | 148.51M |
| Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | 60.01M | 89.03M | 97.85M | 88.78M |
| Cash & Equivalents | 4.36M | 7.77M | 4.02M | 2.07M | 2.32M | 1.81M | 5.53M | 939.00K | 17.80M | 16.85M | 5.43M | 5.43M | 4.58M | 31.48M | 30.05M | 49.16M | 24.33M |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | 15.05M | 23.91M | 37.47M | 42.00M |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | 12.86M | 16.59M | 9.80M | 14.19M |
| Total Liabilities | - | - | 2.98M | 5.16M | 5.98M | 5.20M | 10.32M | 10.77M | 14.10M | 11.67M | 5.85M | 6.52M | 10.22M | 11.34M | 22.54M | 16.32M | 25.64M |
| Current Liabilities | - | - | 2.54M | 4.81M | 5.70M | 5.12M | 6.52M | 4.68M | 7.88M | 11.15M | 5.51M | 3.87M | 9.06M | 11.01M | 16.31M | 10.51M | 15.64M |
| Long Term Debt | - | - | - | - | - | 0 | 3.79M | 5.96M | 6.11M | 0 | 0 | 1.03M | 0 | - | - | - | - |
| Total Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.01M | 6.30M | 6.20M | 10.83M |
| Total Equity | 9.96M | 11.28M | 9.10M | 6.48M | 5.01M | 7.05M | 4.57M | -703.00K | 16.81M | 19.30M | 15.47M | 14.06M | 11.45M | 50.99M | 75.60M | 111.59M | 122.87M |
| Shares Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | 27.12M | 28.54M | 29.00M | 29.88M |
Cash Flows (Annual)
Figures in USD.
| Metric | May 2010 | May 2011 | May 2012 | May 2013 | May 2014 | May 2015 | May 2016 | May 2017 | May 2018 | May 2019 | May 2020 | May 2021 | May 2022 | May 2023 | May 2024 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1.51M | 10.01M | 1.76M | -7.40M |
| Investing Cash Flow | -69.00K | -15.00K | 1.33M | -127.00K | -289.00K | -118.00K | -919.00K | -477.00K | -572.00K | -173.00K | -163.00K | -227.00K | -416.00K | -18.66M | 17.25M | -16.07M |
| Financing Cash Flow | 176.00K | 343.00K | 1.58M | 1.06M | 391.00K | 6.41M | 2.51M | 21.84M | 925.00K | -5.55M | 2.17M | 1.96M | 25.76M | 7.32M | 139.00K | 625.00K |
| 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 | -416.00K | -1.36M | -749.00K | -4.99M |
| 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 | 1.09M | 8.65M | 1.01M | -12.39M |
| Net Change in Cash | - | - | - | - | - | - | - | - | - | - | - | - | 26.85M | -1.32M | 19.15M | -22.84M |
Ratios (Annual)
Figures in %.
| Metric | May 2010 | May 2011 | May 2012 | May 2013 | May 2014 | May 2015 | May 2016 | May 2017 | May 2018 | May 2019 | May 2020 | May 2021 | May 2022 | May 2023 | May 2024 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | 46.6% | 50.4% | 49.1% | 40.6% |
| 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% | 15.3% | 20.6% | 15.2% | -8.2% |
| 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% | 18.6% | 22.4% | 50.1% | -6.6% |
| 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% | 18.5% | 19.3% | 29.7% | -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% | 15.2% | 16.3% | 8.6% | -3.6% |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for AEHR
Why Aehr Test Systems Stock Surged Today
The AI chip tester's revenue could triple in fiscal 2027.
ASML Stock Rises On Second-Quarter Beat, Raised Forecast
Semiconductor equipment giant ASML beat estimates for the second quarter and raised its outlook for the full year. ASML stock rose on the news.
Stock Market Today: Nasdaq Rises Despite Tumble Among Chip Leaders; Apple Paces Mag 7 Rally
The Dow Jones index rises Wednesday after a cool inflation reading. Dell Technologies slides while Aehr Test Systems rockets higher.
Aehr Test (AEHR) Soars as Bullish Outlook Overshadows Weak FY Earnings
Aehr Test Systems climbed by 21.91 percent on Wednesday to close at $87.79 apiece, after management projected a sharp acceleration in its full-year growth for fiscal 2027, underpinned by a record backlog and the continued strong demand for …
Aehr Test Systems surge on earnings beat, strong guidance
Aehr Test Systems (NASDAQ:AEHR) shares jumped 30% after the semiconductor test and burn-in equipment provider reported fiscal fourth-quarter results that exceeded Wall Street expectations and provided a stronger-than-anticipated revenue out…
Aehr Test Systems' Q4 Earnings Beat Estimates, Revenues Up Y/Y
AEHR beat fiscal Q4 estimates as AI and data-center demand drives 33.7% revenue growth, record bookings, and margin expansion.
AEHR — Frequently Asked Questions
What is the current share price of Aehr Test Systems, Inc. (AEHR)?
As of 2026-07-15 16:51 PDT, Aehr Test Systems, Inc. (AEHR) trades at $87.79 on NasdaqCM. Its 52-week range is $13.86 to $116.58.
What is the market capitalisation of AEHR?
Aehr Test Systems, Inc. (AEHR) has a market capitalisation of $2.76B on NasdaqCM.
What is the P/E ratio of AEHR?
AEHR trades at a trailing price-to-earnings (P/E) ratio of -231.03. The industry average P/E is 34.66. Its price-to-book (P/B) ratio is 24.19.
What is the return on equity (ROE) of AEHR?
AEHR has a return on equity (ROE) of -8.68%. Its return on capital employed (ROCE) is -3.62%.
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.