Aehr Test Systems
AEHR
89.37
-2.77
-3.01%
Aehr Test Systems
US · AEHR
#2391 by market cap
Listed 1970
89.37
-2.77
-3.01%
Live - 5344 symbols - heartbeat 1s ago
· 2026-10-08 08:40
Pre-market
87.52
-2.07%
After-hours
90.60
+1.38%
Overnight
88.84
-0.59%
- Market cap
- 2.92B
- P/E (TTM)i
- -388.57
- P/Bi
- 13.30
- EPSi
- -0.23
- Div yieldi
- 0.00%
- 52W posi
- 55%
Reader sentiment
Are you bullish or bearish on AEHR?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 65.08, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year -15.21% YoY
Margins
- Gross margin
- 35.30%
- Operating margin
- -28.29%
- Net margin
- -14.25%
Key ratios & quality
- Altman Z-Scorei
- 65.08
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 21.06M | 22.29M | 16.60M | 50.83M | 64.96M | 66.22M | 58.97M | 50.00M |
| Gross profit | 7.60M | 8.37M | 6.03M | 23.67M | 32.75M | 32.54M | 23.93M | 17.65M |
| Selling & admin expenses | 7.72M | 7.53M | 6.56M | 10.05M | 12.24M | 13.75M | 18.28M | 19.16M |
| Research & development | 4.15M | 3.39M | 3.65M | 5.82M | 7.13M | 8.72M | 10.46M | 12.63M |
| Operating profit | -4.28M | -2.55M | -4.18M | 7.80M | 13.38M | 10.08M | -4.81M | -14.14M |
| Pretax profit | -5.21M | -2.77M | -2.20M | 9.54M | 14.62M | 12.46M | -4.29M | -11.74M |
| Tax | 27.00K | 36.00K | -177.00K | 91.00K | 60.00K | -20.70M | -381.00K | -4.61M |
| Net profit | -5.24M | -2.80M | -2.03M | 9.45M | 14.56M | 33.16M | -3.91M | -7.13M |
| Basic EPS | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Diluted EPS | -0.23 | -0.12 | -0.09 | 0.34 | 0.50 | 1.12 | -0.13 | -0.23 |
| Line item | 2025-02 | 2025-05 | 2025-08 | 2025-11 | 2026-02 | 2026-05 |
|---|---|---|---|---|---|---|
| Revenue | 18.31M | 14.09M | 10.97M | 9.88M | 10.31M | 18.84M |
| Gross profit | 7.18M | 4.27M | 3.72M | 2.55M | 3.37M | 8.02M |
| Selling & admin expenses | 5.16M | 3.93M | 4.72M | 4.43M | 4.43M | 5.58M |
| Research & development | 3.14M | 2.69M | 2.85M | 2.97M | 3.17M | 3.65M |
| Operating profit | -1.12M | -2.34M | -3.85M | -4.86M | -4.23M | -1.21M |
| Pretax profit | -874.00K | -2.99M | -2.84M | -4.44M | -4.00M | -455.00K |
| Tax | -231.00K | -87.00K | -752.00K | -1.21M | -798.00K | -1.85M |
| Net profit | -643.00K | -2.90M | -2.08M | -3.23M | -3.20M | 1.39M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | -0.02 | -0.10 | -0.07 | -0.11 | -0.10 | 0.04 |
Balance sheet
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 20.03M | 17.65M | 19.18M | 60.01M | 89.03M | 97.85M | 88.78M | 184.45M |
| Cash & ST investments | 5.43M | 5.43M | 4.58M | 31.48M | 47.91M | 49.16M | 24.53M | 116.36M |
| Inventory | 9.06M | 7.99M | 8.85M | 15.05M | 23.91M | 37.47M | 42.00M | 41.35M |
| Total assets | 21.31M | 20.57M | 21.67M | 62.33M | 98.14M | 127.91M | 148.51M | 246.69M |
| Total current liabilities | 5.51M | 3.87M | 9.06M | 11.01M | 16.31M | 10.51M | 15.64M | 17.86M |
| Short-term debt | -- | 1.31M | 3.82M | 794.00K | 137.00K | 465.00K | 909.00K | 626.00K |
| Long-term debt | -- | 1.03M | -- | -- | -- | -- | -- | -- |
| Total liabilities | 5,854,000.00 | 6,518,000.00 | 10,216,000.00 | 11,339,000.00 | 22,543,000.00 | 16,319,000.00 | 25,637,000.00 | 27,183,000.00 |
| Total equity | 15.45M | 14.06M | 11.45M | 50.99M | 75.60M | 111.59M | 122.87M | 219.51M |
| Retained earnings | -71.48M | -74.29M | -76.31M | -66.86M | -52.31M | -19.15M | -23.06M | -30.19M |
| Line item | 2025-02 | 2025-05 | 2025-08 | 2025-11 | 2026-02 | 2026-05 |
|---|---|---|---|---|---|---|
| Total current assets | 91.70M | 88.78M | 84.05M | 88.19M | 95.90M | 184.45M |
| Cash & ST investments | 29.41M | 24.53M | 22.71M | 30.84M | 36.91M | 116.36M |
| Inventory | 42.33M | 42.00M | 41.84M | 42.72M | 41.16M | 41.35M |
| Total assets | 145.61M | 148.51M | 144.09M | 148.73M | 157.05M | 246.69M |
| Total current liabilities | 16.06M | 15.64M | 11.91M | 8.31M | 8.74M | 17.86M |
| Short-term debt | 1.17M | 909.00K | 905.00K | 585.00K | 606.00K | 626.00K |
| Long-term debt | -- | -- | -- | -- | -- | -- |
| Total liabilities | 21,397,000.00 | 25,637,000.00 | 21,698,000.00 | 17,958,000.00 | 18,254,000.00 | 27,183,000.00 |
| Total equity | 124.21M | 122.87M | 122.39M | 130.78M | 138.79M | 219.51M |
| Retained earnings | -20.16M | -23.06M | -25.14M | -28.37M | -31.58M | -30.19M |
Cash flow
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -5.64M | -2.02M | -2.70M | 1.51M | 10.01M | 1.76M | -7.40M | -3.31M |
| Depreciation & amortization | 431.00K | 384.00K | 328.00K | 1.05M | 1.10M | 1.36M | 3.39M | 3.53M |
| Free cash flow | -5.81M | -2.19M | -2.93M | 1.09M | 8.65M | 1.01M | -12.39M | -5.38M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -- | -10.00K | -20.00K | 24.03M | 6.82M | -72.00K | 0 | 97.40M |
| Ending cash balance | 5.51M | 5.51M | 4.66M | 31.56M | 30.20M | 49.31M | 26.48M | 116.51M |
| Line item | 2025-02 | 2025-05 | 2025-08 | 2025-11 | 2026-02 | 2026-05 |
|---|---|---|---|---|---|---|
| Operating cash flow | -1.61M | -2.30M | -282.00K | -1.17M | -3.69M | 1.83M |
| Depreciation & amortization | 909.00K | 1.02M | 922.00K | 871.00K | 860.00K | 877.00K |
| Free cash flow | -3.26M | -5.12M | -1.67M | -1.64M | -3.76M | 1.70M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | -177.00K | 520.00K | -328.00K | 8.88M | 9.77M | 79.07M |
| Ending cash balance | 31.36M | 26.48M | 24.66M | 30.99M | 37.06M | 116.51M |
Returns & efficiency
| Line item | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -30.11 | -18.97 | -15.88 | 30.27 | 23.00 | 35.42 | -3.34 | -4.16 |
| ROA %i | -20.03 | -13.38 | -9.60 | 22.50 | 18.14 | 29.33 | -2.83 | -3.61 |
| ROIC %i | -28.66 | -14.97 | -11.82 | 27.69 | 21.74 | 31.32 | -4.12 | -4.38 |
| 5-year avg ROE %i | -112.58 | -93.49 | -26.44 | -6.35 | -2.34 | 10.77 | 13.90 | 16.24 |
| EBIT margin %i | -23.54 | -11.42 | -25.19 | 15.35 | 20.59 | 15.22 | -8.16 | -28.29 |
| FCF / sales %i | -- | -- | -- | 2.15 | 13.31 | 1.52 | -- | -- |
| Current ratioi | 3.63 | 4.57 | 2.12 | 5.45 | 5.46 | 9.31 | 5.68 | 10.33 |
| Quick ratioi | 1.87 | 2.37 | 1.08 | 4.03 | 3.96 | 5.61 | 2.48 | 7.50 |
| Debt / assetsi | -- | 19.16 | 22.26 | 1.61 | 6.42 | 4.84 | 7.29 | 4.01 |
| LT debt / equityi | -- | 18.69 | 8.80 | 0.42 | 8.15 | 5.14 | 8.07 | 4.22 |
| Interest coveragei | -19.67 | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | 13.24 | 5.66 | -17.49 | 34.15 | 42.84 | 58.59 | 5.08 | -8.36 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-02 | 2025-05 | 2025-08 | 2025-11 | 2026-02 | 2026-05 |
|---|---|---|---|---|---|---|
| ROE %i | 21.69 | -3.34 | -5.43 | -6.97 | -8.68 | -4.16 |
| ROA %i | 18.49 | -2.83 | -4.59 | -6.09 | -7.54 | -3.61 |
| ROIC %i | 19.20 | -4.12 | -5.65 | -7.05 | -8.65 | -4.38 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 0.11 | -8.16 | -15.52 | -22.85 | -33.76 | -28.29 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 5.71 | 5.68 | 7.06 | 10.62 | 10.97 | 10.33 |
| Quick ratioi | 2.58 | 2.48 | 3.00 | 4.95 | 5.57 | 7.50 |
| Debt / assetsi | 4.42 | 7.29 | 7.37 | 6.83 | 6.38 | 4.01 |
| LT debt / equityi | 4.24 | 8.07 | 7.93 | 7.32 | 6.79 | 4.22 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Systems is the largest reported line at 57.34% of revenue, across 3 reported segments.
- Contactors follows at 29.77%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Systems57.34%
Contactors29.77%
Services12.89%
Region
Asia45.65%
United States41.29%
Europe13.07%
Quote time 2026-10-08 08:40:21 · For reference only, not investment advice and not tailored to your situation.