AEHR Fundamental Analysis - AEHR TEST SYSTEMS

Fundamental Rating

AEHR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 112 industry peers in the Semiconductors & Semiconductor Equipment industry. No worries on liquidiy or solvency for AEHR as it has an excellent financial health rating, but there are worries on the profitability. AEHR is valied quite expensively at the moment, while it does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year AEHR was profitable.

In the past year AEHR has reported a negative cash flow from operations.

In multiple years AEHR reported negative net income over the last 5 years.

In multiple years AEHR reported negative operating cash flow during the last 5 years.

1.2 Ratios

AEHR has a worse Return On Assets (-4.62%) than 64.29% of its industry peers.

Looking at the Return On Equity, with a value of -5.44%, AEHR is doing worse than 61.61% of the companies in the same industry.

		Industry Rank	Sector Rank
ROA	-4.62%
ROE	-5.44%
ROIC	N/A

ROA(3y)12.71%

ROA(5y)8.78%

ROE(3y)15.26%

ROE(5y)9.32%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

The Gross Margin of AEHR (36.21%) is worse than 63.39% of its industry peers.

In the last couple of years the Gross Margin of AEHR has grown nicely.

The Profit Margin and Operating Margin are not available for AEHR so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	36.21%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-4.48%

GM growth 5Y1.57%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

AEHR does not have a ROIC to compare to the WACC, probably because it is not profitable.

AEHR has more shares outstanding than it did 1 year ago.

The number of shares outstanding for AEHR has been increased compared to 5 years ago.

There is no outstanding debt for AEHR. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.

2.2 Solvency

AEHR has an Altman-Z score of 21.10. This indicates that AEHR is financially healthy and has little risk of bankruptcy at the moment.

AEHR has a better Altman-Z score (21.10) than 87.50% of its industry peers.

AEHR has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	N/A
Altman-Z	21.1

ROIC/WACCN/A

WACC11.58%

2.3 Liquidity

AEHR has a Current Ratio of 7.06. This indicates that AEHR is financially healthy and has no problem in meeting its short term obligations.

With an excellent Current ratio value of 7.06, AEHR belongs to the best of the industry, outperforming 84.82% of the companies in the same industry.

AEHR has a Quick Ratio of 3.54. This indicates that AEHR is financially healthy and has no problem in meeting its short term obligations.

With a decent Quick ratio value of 3.54, AEHR is doing good in the industry, outperforming 67.86% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	7.06
Quick Ratio	3.54

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

AEHR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -91.89%.

The Earnings Per Share has been growing by 243890.10% on average over the past years. This is a very strong growth

The Revenue has decreased by -3.23% in the past year.

AEHR shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.48% yearly.

EPS 1Y (TTM)-91.89%

EPS 3Y-27.89%

EPS 5Y243890.1%

EPS Q2Q%-85.71%

Revenue 1Y (TTM)-3.23%

Revenue growth 3Y5.07%

Revenue growth 5Y21.48%

Sales Q2Q%-16.39%

3.2 Future

Based on estimates for the next years, AEHR will show a very strong growth in Earnings Per Share. The EPS will grow by 50.37% on average per year.

Based on estimates for the next years, AEHR will show a quite strong growth in Revenue. The Revenue will grow by 17.85% on average per year.

EPS Next Y-22.94%

EPS Next 2Y45.19%

EPS Next 3Y50.37%

EPS Next 5YN/A

Revenue Next Year1.37%

Revenue Next 2Y16.49%

Revenue Next 3Y17.85%

Revenue Next 5YN/A

3.3 Evolution

Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.

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4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 312.89, AEHR can be considered very expensive at the moment.

AEHR's Price/Earnings ratio is in line with the industry average.

AEHR is valuated expensively when we compare the Price/Earnings ratio to 27.42, which is the current average of the S&P500 Index.

With a Price/Forward Earnings ratio of 89.06, AEHR can be considered very expensive at the moment.

Compared to the rest of the industry, the Price/Forward Earnings ratio of AEHR indicates a slightly more expensive valuation: AEHR is more expensive than 61.61% of the companies listed in the same industry.

AEHR is valuated expensively when we compare the Price/Forward Earnings ratio to 22.94, which is the current average of the S&P500 Index.

		Industry Rank	Sector Rank
PE	312.89
Fwd PE	89.06

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

AEHR's earnings are expected to grow with 50.37% in the coming years. This may justify a more expensive valuation.

PEG (NY)N/A

PEG (5Y)0

EPS Next 2Y45.19%

EPS Next 3Y50.37%

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5. Dividend

5.1 Amount

No dividends for AEHR!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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AEHR TEST SYSTEMS

NASDAQ:AEHR (10/20/2025, 10:09:08 AM)

28.16

+3.4 (+13.73%)

Chartmill FA Rating

GICS SectorInformation Technology

GICS IndustryGroupSemiconductors & Semiconductor Equipment

GICS IndustrySemiconductors & Semiconductor Equipment

Earnings (Last)10-06 2025-10-06/amc

Earnings (Next)01-12 2026-01-12

Inst Owners61.25%

Inst Owner Change-1.08%

Ins Owners5.96%

Ins Owner Change7.49%

Market Cap845.08M

Analysts77.78

Price Target16.83 (-40.23%)

Short Float %19.99%

Short Ratio3.18

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)N/A

Avg EPS beat(2)N/A

Min EPS beat(2)N/A

Max EPS beat(2)N/A

EPS beat(4)N/A

Avg EPS beat(4)N/A

Min EPS beat(4)N/A

Max EPS beat(4)N/A

EPS beat(8)N/A

Avg EPS beat(8)N/A

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)0

Avg Revenue beat(2)-3.5%

Min Revenue beat(2)-6.81%

Max Revenue beat(2)-0.19%

Revenue beat(4)1

Avg Revenue beat(4)-4.55%

Min Revenue beat(4)-12.25%

Max Revenue beat(4)1.05%

Revenue beat(8)4

Avg Revenue beat(8)-1.13%

Revenue beat(12)7

Avg Revenue beat(12)1.18%

Revenue beat(16)9

Avg Revenue beat(16)2.47%

PT rev (1m)0%

PT rev (3m)10%

EPS NQ rev (1m)-129.99%

EPS NQ rev (3m)-125%

EPS NY rev (1m)41.66%

EPS NY rev (3m)-9.34%

Revenue NQ rev (1m)-9.15%

Revenue NQ rev (3m)-4.31%

Revenue NY rev (1m)0%

Revenue NY rev (3m)-5.72%

Valuation

		Industry Rank	Sector Rank
PE	312.89
Fwd PE	89.06
P/S	14.87
P/FCF	N/A
P/OCF	N/A
P/B	6.9
P/tB	8.35
EV/EBITDA	N/A

EPS(TTM)0.09

EY0.32%

EPS(NY)0.32

Fwd EY1.12%

FCF(TTM)-0.54

FCFYN/A

OCF(TTM)-0.34

OCFYN/A

SpS1.89

BVpS4.08

TBVpS3.37

PEG (NY)N/A

PEG (5Y)0

Profitability

		Industry Rank	Sector Rank
ROA	-4.62%
ROE	-5.44%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	36.21%
FCFM	N/A

ROA(3y)12.71%

ROA(5y)8.78%

ROE(3y)15.26%

ROE(5y)9.32%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-4.48%

GM growth 5Y1.57%

F-Score2

Asset Turnover0.39

Health

		Industry Rank	Sector Rank
Debt/Equity	0
Debt/FCF	N/A
Debt/EBITDA	N/A
Cap/Depr	228.43%
Cap/Sales	10.89%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	7.06
Quick Ratio	3.54
Altman-Z	21.1

F-Score2

WACC11.58%

ROIC/WACCN/A

Cap/Depr(3y)210.71%

Cap/Depr(5y)168.36%

Cap/Sales(3y)3.9%

Cap/Sales(5y)2.78%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-91.89%

EPS 3Y-27.89%

EPS 5Y243890.1%

EPS Q2Q%-85.71%

EPS Next Y-22.94%

EPS Next 2Y45.19%

EPS Next 3Y50.37%

EPS Next 5YN/A

Revenue 1Y (TTM)-3.23%

Revenue growth 3Y5.07%

Revenue growth 5Y21.48%

Sales Q2Q%-16.39%

Revenue Next Year1.37%

Revenue Next 2Y16.49%

Revenue Next 3Y17.85%

Revenue Next 5YN/A

EBIT growth 1Y-244.05%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year180.94%

EBIT Next 3Y87.64%

EBIT Next 5YN/A

FCF growth 1Y-335.82%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-219.08%

OCF growth 3YN/A

OCF growth 5YN/A

AEHR TEST SYSTEMS (AEHR) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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