Overview Dividends

(AEHR) Aehr Test Systems - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US00760J1088

Wafer Test, Burn-In, FOX-XP, FOX-NP, FOX-CP

Semiconductor Materials & Equipment
Market Cap in USD: 644m
IPO / Inception: 1997-08-14
Return 12m vs S&P 500: 3.38%

EPS (Earnings per Share)

EPS (Earnings per Share) of AEHR over the last years for every Quarter: "2020-11": -0.07, "2021-02": -0.02, "2021-05": 0.04, "2021-08": -0.02, "2021-11": 0.05, "2022-02": 0.14, "2022-05": 0.23, "2022-08": 0.05, "2022-11": 0.16, "2023-02": 0.16, "2023-05": 0.23, "2023-08": 0.18, "2023-11": 0.23, "2024-02": -0.03, "2024-05": 0.84, "2024-08": 0.07, "2024-11": 0.02, "2025-02": 0.07, "2025-05": -0.01, "2025-08": 0.01, "2025-11": 0,
EPS CAGR: -32.87%
EPS Trend: -24.7%
Last SUE: 0.11
Qual. Beats: 0

Revenue

Revenue of AEHR over the last years for every Quarter: 2020-11: 1.683, 2021-02: 5.267, 2021-05: 7.638, 2021-08: 5.646, 2021-11: 9.611, 2022-02: 15.283, 2022-05: 20.289, 2022-08: 10.671, 2022-11: 14.815, 2023-02: 17.206, 2023-05: 22.269, 2023-08: 20.624, 2023-11: 21.431, 2024-02: 7.563, 2024-05: 16.6, 2024-08: 13.119, 2024-11: 13.453, 2025-02: 18.307, 2025-05: 14.089, 2025-08: 10.969, 2025-11: null,
Rev. CAGR: 3.59%
Rev. Trend: -4.3%
Last SUE: 0.17
Qual. Beats: 0

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 90.0%
Value at Risk 5%th 123%
Relative Tail Risk -17.18%
Reward TTM
Sharpe Ratio 0.62
Alpha -10.42
CAGR/Max DD 0.06
Character TTM
Hurst Exponent 0.393
Beta 2.426
Beta Downside 1.108
Drawdowns 3y
Max DD 87.37%
Mean DD 54.72%
Median DD 66.73%

Description: AEHR Aehr Test Systems December 28, 2025

Aehr Test Systems (NASDAQ:AEHR) designs, manufactures, and services semiconductor test and burn-in equipment for wafer-level, singulated-die, and packaged-part applications across the United States, Asia, and Europe. Its flagship platforms-FOX-XP, FOX-NP, FOX-CP, FOX WaferPak Contactor, and FOX DiePak Carrier/Loader-support a broad device mix that includes silicon-carbide (SiC) power semiconductors, 2-D/3-D image sensors, memory, CPUs, microcontrollers, SoCs, and photonic/optical components.

Key operating metrics (Q3 2024) show AEHR generated $152 million in revenue, up 12 % YoY, with a gross margin of 38 % and a backlog of roughly $210 million, reflecting strong demand for SiC and advanced-node testing as automotive electrification and 5G infrastructure expand. The semiconductor test-equipment market is projected to grow at a 9 % CAGR through 2028, driven by the rollout of 300 mm fabs and the shift toward heterogeneous integration, which directly benefits AEHR’s large-wafer (300 mm) contactor offering.

For a deeper quantitative assessment, you may want to explore the ValueRay model on AEHR to see how these drivers translate into projected valuation scenarios.

Piotroski VR‑10 (Strict, 0-10) 0.0

Net Income (-6.65m TTM) > 0 and > 6% of Revenue (6% = 3.41m TTM)
FCFTA -0.11 (>2.0%) and ΔFCFTA -10.83pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 127.0% (prev 132.0%; Δ -5.03pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA -0.07 (>3.0%) and CFO -9.85m <= Net Income -6.65m (YES >=105%, WARN >=100%)
NO Net Debt/EBITDA fails (EBITDA <= 0)
Current Ratio 7.06 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (29.9m) change vs 12m ago 0.98% (target <= -2.0% for YES)
Gross Margin 36.21% (prev 50.48%; Δ -14.27pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 39.19% (prev 40.25%; Δ -1.06pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
error: Interest Coverage Ratio cannot be calculated (needs EBITDA TTM and Interest Expense TTM)

Altman Z'' 1.14

(A) 0.50 = (Total Current Assets 84.1m - Total Current Liabilities 11.9m) / Total Assets 144.1m
(B) -0.17 = Retained Earnings (Balance) -25.1m / Total Assets 144.1m
(C) -0.05 = EBIT TTM -7.94m / Avg Total Assets 145.0m
(D) -1.15 = Book Value of Equity -24.9m / Total Liabilities 21.7m
Total Rating: 1.14 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 22.17

1. Piotroski 0.0pt
2. FCF Yield -2.54%
3. FCF Margin -28.22%
4. Debt/Equity 0.09
5. Debt/Ebitda 2.88
6. ROIC - WACC (= -19.50)%
7. RoE -5.40%
8. Rev. Trend -4.30%
9. EPS Trend -24.71%

What is the price of AEHR shares?

As of January 02, 2026, the stock is trading at USD 20.19 with a total of 880,538 shares traded.
Over the past week, the price has changed by -5.92%, over one month by -10.39%, over three months by -39.28% and over the past year by +21.99%.

Is AEHR a buy, sell or hold?

Aehr Test Systems has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy AEHR.
  • Strong Buy: 1
  • Buy: 0
  • Hold: 1
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the AEHR price?

Issuer Target Up/Down from current
Wallstreet Target Price 25.7 27.1%
Analysts Target Price 25.7 27.1%
ValueRay Target Price 19.1 -5.4%

AEHR Fundamental Data Overview December 30, 2025

Market Cap USD = 643.9m (643.9m USD * 1.0 USD.USD)
P/S = 11.3334
P/B = 5.2612
P/EG = 5.92
Beta = 2.413
Revenue TTM = 56.8m USD
EBIT TTM = -7.94m USD
EBITDA TTM = -4.20m USD
Long Term Debt = 10.6m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 905.0k USD (from shortTermDebt, last quarter)
Debt = 10.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -12.1m USD (from netDebt column, last quarter)
Enterprise Value = 631.8m USD (643.9m + Debt 10.6m - CCE 22.7m)
Interest Coverage Ratio = unknown (Ebit TTM -7.94m / Interest Expense TTM 0.0)
FCF Yield = -2.54% (FCF TTM -16.0m / Enterprise Value 631.8m)
FCF Margin = -28.22% (FCF TTM -16.0m / Revenue TTM 56.8m)
Net Margin = -11.71% (Net Income TTM -6.65m / Revenue TTM 56.8m)
Gross Margin = 36.21% ((Revenue TTM 56.8m - Cost of Revenue TTM 36.2m) / Revenue TTM)
Gross Margin QoQ = 33.90% (prev 30.32%)
Tobins Q-Ratio = 4.39 (Enterprise Value 631.8m / Total Assets 144.1m)
Interest Expense / Debt = 4.55% (Interest Expense 483.0k / Debt 10.6m)
Taxrate = 26.52% (-752.0k / -2.84m)
NOPAT = -5.84m (EBIT -7.94m * (1 - 26.52%)) [loss with tax shield]
Current Ratio = 7.06 (Total Current Assets 84.1m / Total Current Liabilities 11.9m)
Debt / Equity = 0.09 (Debt 10.6m / totalStockholderEquity, last quarter 122.4m)
Debt / EBITDA = 2.88 (negative EBITDA) (Net Debt -12.1m / EBITDA -4.20m)
Debt / FCF = 0.75 (negative FCF - burning cash) (Net Debt -12.1m / FCF TTM -16.0m)
Total Stockholder Equity = 123.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -4.62% (Net Income -6.65m / Total Assets 144.1m)
RoE = -5.40% (Net Income TTM -6.65m / Total Stockholder Equity 123.2m)
RoCE = -5.94% (EBIT -7.94m / Capital Employed (Equity 123.2m + L.T.Debt 10.6m))
RoIC = -4.74% (negative operating profit) (NOPAT -5.84m / Invested Capital 123.2m)
WACC = 14.76% (E(643.9m)/V(654.6m) * Re(14.95%) + D(10.6m)/V(654.6m) * Rd(4.55%) * (1-Tc(0.27)))
Discount Rate = 14.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.26%
Fair Price DCF = unknown (Cash Flow -16.0m)
EPS Correlation: -24.71 | EPS CAGR: -32.87% | SUE: 0.11 | # QB: 0
Revenue Correlation: -4.30 | Revenue CAGR: 3.59% | SUE: 0.17 | # QB: 0
EPS next Quarter (2026-02-28): EPS=0.02 | Chg30d=-0.010 | Revisions Net=-1 | Analysts=3
EPS current Year (2026-05-31): EPS=0.06 | Chg30d=-0.025 | Revisions Net=+0 | Growth EPS=-60.0% | Growth Revenue=+0.5%
EPS next Year (2027-05-31): EPS=0.26 | Chg30d=-0.063 | Revisions Net=-1 | Growth EPS=+327.8% | Growth Revenue=+35.0%

Additional Sources for AEHR Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle