Skip to content
Company Analysis

Aehr Test Systems AEHR

A comprehensive view of key metrics, scores, and financial health for Aehr Test Systems

Overview of Aehr Test Systems, Inc.

AEHR NCM
Technology Semiconductor Equipment & Materials Framework: General Corporate Small Cap
Aehr Test Systems, Inc. (AEHR), is a Small Cap company, in the Semiconductor Equipment & Materials industry, last closed at $51.47, about 94.8% overvalued vs fair value, +117.3% 1Y return, ranked 355/780 in sector.
Metrics Rev Growth -15.2% ROE -4.2% Gross Margin 35.3%
USD 51.47
-6.23%
(Delayed)
• Vol 90d: 130.3%
52-Week Range
Market Cap
$1.68B
Enterprise Value
$1.56B
Overall Score
View breakdown
Overall
Growth
Fair
Profitability
Weak
Health
Fair
Efficiency
Fair
Valuation
Weak
Growth
Fair
Profitability
Weak
Health
Fair
Efficiency
Fair
Valuation
Weak
Completeness: 82%
Confidence: 91%
Updated: Oct 31
Top Beats
No strong beats yet

Quick Facts

Website https://www.aehr.com
HQ Fremont, CA
Employees 136
Fiscal year May 31

Next Events

Earnings Nov 2 Call: Nov 2

Fair Value Snapshot

Bear Base Bull
$2
$3
$3
Current: $51.47 -95% vs base

Engine Room Money Flow™

Small Cap

Corporate Free Cash Flow - Where revenue goes and how value is created

Flow Steps
Revenue
$50.0M
-15.2%%
Gross Profit
$17.7M
-26.2%%
Operating Income
-$14.1M
-149.2%%
Net Income
-$7.1M
-82.3%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Corporate Free Cash Flow

Quality & Reliability Indicators

Cash Conversion Ratio FY2026
75.4%

Operating Cash Flow / Net Income

FCF / Net Income - not meaningful while net income is negative (a near-100% ratio here only reflects cash burn tracking accounting losses, not earnings quality)

Locked Metric
-
Premium
Locked Metric
-
Premium

Where It Leaks

Cash Flow Health healthy
Strong cash conversion with minimal leakage across profit-to-cash-to-value chain.
0
Active Leaks
0/0
Improving
0
High Impact
0
Critical
Moat Analysis Corporate Default

Competitive Advantage Assessment

Evaluating Aehr Test Systems's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
25
/100
Weak
Scores based on quantitative metrics and qualitative factors
Full moat analysis

Key strengths

  • Strong Interest Coverage & Conservative Leverage Debt serviceability is strong (score 0.71), with robust interest coverage.
  • Strong Liquidity Buffer Liquidity position is strong (score 1.00), providing operational cushion.

Key risks

  • Commodity Pressure / Weak Differentiation Gross margin at 32.1th percentile with high volatility suggests weak pricing power or commoditized products.
  • ROIC Below WACC or Peers ROIC at 35.7th percentile suggests inefficient capital deployment.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

Upgrade to unlock the signals and evidence behind each defense.

Premium access

Unlock full defense analysis

Get key signals, strengths, and risks for every moat dimension.

Upgrade to Premium Unlock all moat defenses and evidence.

Pricing Power

Weak
15
Premium

Signals, strengths and risks for Pricing Power

Premium

Signals, strengths and risks for Cost Advantage

Premium

Signals, strengths and risks for Customer Stickiness

Premium

Signals, strengths and risks for Capital Efficiency

Premium

Signals, strengths and risks for Resilience

Premium

Signals, strengths and risks for Scale & Market Position

Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

vs Industry Peers 89% Coverage
Trade-Off Triangle Visualization A ternary plot showing AEHR's balance between Growth (24.5%), Profitability (19.9%), and Safety (55.6%). Growth 24% Safety 56% Profitability 20%

Click axes to expand details. Marker shows current allocation.

3-Year Trend Analysis Locked
Upgrade to unlock the full 3-year trend analysis and deltas.

Growth

34th percentile vs peers
35
Key Signals
EPS Growth YoY 1.25 90p Revenue CAGR 3Y -8.4% 17p Rev Growth YoY -15.2% 12p
Strengths
  • EPS Growth YoY in top 20% of peers (1.25, 90th percentile)
  • Current Ratio in top 20% of peers (10.33, 95th percentile)
  • Net Debt/EBITDA in top 20% of peers (-4.30, 93th percentile)
  • Quick Ratio in top 20% of peers (8.01, 95th percentile)
Risks
  • Rev Growth YoY in bottom 20% of peers (-15.2%)

Profitability

28th percentile vs peers
28
Key Signals
Strengths
Risks
Premium
Unlock full Profitability drilldowns

See the signal-level drivers and insights behind this axis. Upgrade to reveal the full Trade-Off Ledger.

Upgrade Now

Safety

79th percentile vs peers
79
Key Signals
Strengths
Safety drilldowns are available to premium members.

Two Futures

Scenario-based fair value ranges for Aehr Test Systems.

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
X.X%
X%XX%
X.X%
-XX%XX%
XX.X%
-XX%XX%
Adjust the sliders above to explore different valuation scenarios.
Unlock Premium
Reveal the full Scenario Theatre
See live sliders, narratives, and full Bear/Base/Bull outcomes.
Upgrade Now
Bear
-
- - -
- upside
-
Base
$2.69
- - -
-94.8% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
Actions & Info
Send Feedback
Please select a category.
0/1000