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Stock research / United States / AEHR · Instruments For Meas & Testing Of Electricity & Elec Signals · Nasdaq

Aehr Test Systems (AEHR)

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Aehr Test Systems (AEHR) reported revenue of $19 million for Q4 FY2026, the quarter ended 29 May 2026, up 33.7% on the same quarter a year earlier. Net income was $1 million, and diluted earnings per share $0.04. The figures are the company's own, from the 10-K it filed with the SEC on 27 July 2026.

Revenue$19 millionup 33.7%
Net income$1 million
Diluted EPS$0.04
QuarterQ4 FY2026ended 29 May 2026

Aehr Test Systems (AEHR) in brief

Aehr Test Systems (AEHR) reported revenue of $50 million for fiscal 2026, the year ended 29 May 2026, down 15.2% on the year before.
Read moreNet loss was $7 million and the diluted loss per share $0.23. Revenue was $59 million in fiscal 2025, $66 million in fiscal 2024, $65 million in fiscal 2023 and $51 million in fiscal 2022. Net income in the same years was a loss of $4 million, $33 million, $15 million and $9 million. Revenue grew 24.7% a year, compounded, over the five years to fiscal 2026. Aehr Test Systems had 32 million shares outstanding at the latest filed count. At 29 May 2026 it carried $0 million of debt and $116 million of cash. At the close of 27 October 2026 the market cap of Aehr Test Systems was $2.1 billion.

Ratios

From the filings

ROE-3.2%
ROCE-6.4%
Operating margin-28.3%
Net margin-14.3%
FCF margin-10.8%
Interest covern/a
Debt to equity0.00
Cash conversionn/a
Share count, last 12 months8.7%
Sales CAGR, 3 years-8.4%
Profit CAGR, 3 yearsn/a
EPS, TTM-$0.24

At the close of 27 October 2026

Price$63.98
Market cap$2.1 billion
Stock P/En/a
Price to book9.47
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales41.56
52-week high$145.61
52-week low$19.40
Price, 1 year154.5%
Price CAGR, 3 years29.0%
Price CAGR, 5 years23.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Aehr Test Systems's balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
AEHRgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AEHR

Dividendsno dividend in its filings for fiscal 2010 onward
Filings14 in twelve months: 7 current reports (8-K), about 3 results of operations; 1 shareholder vote; 1 other events; 1 material agreement; 1 charter or bylaw amendment, or fiscal year change
Planned insider sales55 Form 144 notices in twelve months, $62.0 million; latest 17 August 2026
Options tapeput/call 1.08 by open interest at the 27 October 2026 close; the straddle prices a 8.7% move to 30 October 2026
13F holders262 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading70 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest5.6 million shares short, 2.00 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 3 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q4 FY2021Q1 FY2022 †Q2 FY2022Q3 FY2022Q4 FY2022Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *
Revenue7.65.69.615.320.310.714.817.222.320.621.47.613.113.518.314.111.09.910.318.8
Cost of revenue4.13.45.18.99.86.26.98.310.810.610.54.46.08.111.19.87.27.36.910.8
Gross profit3.52.34.56.410.54.57.98.911.510.011.03.27.15.47.24.33.72.53.48.0
Gross margin46%40%47%42%52%42%53%52%52%48%51%42%54%40%39%30%34%26%33%43%
R&D1.01.31.31.51.71.51.61.82.32.52.02.12.42.33.12.72.83.03.23.6
SG&A1.92.02.52.63.02.52.93.23.63.43.53.14.64.65.23.94.74.44.45.6
Operating income0.6-1.00.72.35.80.53.53.85.64.15.5-2.00.2-1.5-1.1-3.2-4.1-4.6-4.2-1.2
Operating margin8%-18%7%15%29%4%24%22%25%20%26%-27%1%-11%-6%-23%-37%-47%-41%-6%
Interest expensen/a0.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income0.60.70.82.35.80.63.74.16.14.76.1-1.50.8-1.2-0.9-3.0-2.8-4.4-4.0-0.5
Tax rate0%3%5%1%-2%2%0%0%0%0%0%n/a19%n/an/an/an/an/an/an/a
Net income0.60.70.72.25.80.63.74.16.14.76.1-1.50.7-1.0-0.6n/a-2.1-3.2-3.21.4
Net margin7%12%7%15%29%6%25%24%27%23%28%-19%5%-8%-4%n/a-19%-33%-31%7%
Diluted EPS$0.02$0.03$0.03$0.08$0.20$0.02$0.13$0.14$0.21$0.16$0.20-$0.05$0.02-$0.03-$0.02n/a-$0.07-$0.11-$0.10$0.04
Operating cash flow-0.21.93.3-2.9-0.85.5-0.2-1.15.93.9-0.5-2.82.4-5.9-1.6-2.3-0.3-1.2-3.71.8
Capital expenditure0.00.10.10.10.20.10.00.11.20.30.20.30.20.31.72.81.40.50.10.1
Free cash flow-0.21.83.3-3.0-1.05.4-0.2-1.24.73.6-0.7-3.12.2-6.2-3.3-5.1-1.7-1.6-3.81.7
Shares outstandingn/a24m27m27mn/a27m28m28m29m29mn/a29m30m30m30m30m30m31m31m32m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 17 fiscal years and the trailing twelve months

FY2010FY2011 †FY2012 †FY2013 †FY2014FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025FY2026TTM
Revenue11.713.715.516.519.710.014.518.929.621.122.316.650.865.066.259.050.050.0
Cost of revenue5.68.29.39.79.56.29.412.117.213.513.910.627.232.233.735.032.432.4
Gross profit6.15.56.26.810.23.85.16.812.47.68.46.023.732.732.523.917.717.7
Gross margin52.3%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%35.3%35.3%
Research and development4.84.64.23.23.44.14.34.74.24.23.43.75.87.18.710.512.612.6
Selling, general and administrative6.16.06.56.96.36.57.07.17.37.77.56.610.012.213.718.319.219.2
Operating income-0.8-4.2-4.5-3.30.5-6.7-6.2-4.90.9-5.0-2.8-4.27.813.410.1-5.7-14.1-14.1
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%-9.6%-28.3%-28.3%
Interest expense0.00.00.00.00.00.10.60.70.40.3n/an/an/an/an/an/an/an/a
Pre-tax income-0.6-3.4-3.4-3.40.4-6.6-6.8-5.60.5-5.2-2.8-2.29.514.612.5-4.3-11.7-11.7
Income tax-0.1-0.0-0.00.0-0.00.00.00.0-0.10.0-0.0-0.20.10.1-20.7-0.4-4.6-4.6
Effective tax raten/an/an/an/a-3.7%n/an/an/a-16.0%n/an/an/a1.0%0.4%-166.1%n/an/an/a
Net income-0.5-3.4-3.4-3.40.4-6.6-6.8-5.70.5-5.2-2.8-2.09.414.633.2-3.9-7.1-7.1
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%-14.3%-14.3%
Diluted EPS-$0.06-$0.38-$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-$0.13-$0.23-$0.24
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service FY2024 to FY2026

FY2024FY2025FY2026Share
of the parts, latest year
Systems24.222.028.757.3%
Contactors37.630.814.929.8%
Services4.56.16.412.9%
SystemsContactorsServices
66.2FY202459.0FY202550.0FY2026

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2024 to FY2026

FY2024FY2025FY2026Share
of the parts, latest year
Asiia58.137.122.845.6%
Uniited States3.517.720.641.3%
Europe and Miiddle East4.64.26.513.1%
AsiiaUniited StatesEurope and Miiddle East
66.2FY202459.0FY202550.0FY2026

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2010FY2011 †FY2012 †FY2013 †FY2014FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025FY2026TTM
Operating cash flow3.2-4.1-4.9-0.3-0.6-2.3-6.3-4.5-1.4-5.6-2.0-2.71.510.01.8-7.4-3.3-3.3
Capital expenditure0.10.00.00.10.30.10.90.50.60.20.20.20.41.40.75.02.12.1
Free cash flow3.2-4.2-4.9-0.4-0.9-2.4-7.2-5.0-1.9-5.8-2.2-2.91.18.61.0-12.4-5.4-5.4
Free cash flow margin27.2%-30.3%-31.7%-2.7%-4.8%-23.7%-49.7%-26.3%-6.5%-27.6%-9.8%-17.6%2.1%13.3%1.5%-21.0%-10.8%-10.8%
Cash from investing-0.1-0.01.3-0.1-0.3-0.1-0.9-0.5-0.6-0.2-0.2-0.2-0.4-18.717.3-16.1-3.9-3.9
Cash from financing0.20.31.61.10.46.42.521.80.9-5.62.22.025.87.30.10.697.297.2
Depreciation and amortisation0.70.60.50.30.10.10.20.30.40.40.40.30.40.50.72.32.82.8
Share-based compensation1.70.90.70.60.81.01.01.01.00.90.91.13.02.72.55.26.86.8
Diluted shares, weighted9m9m9mn/a12m12m13m16m23mn/an/an/a28m29m30m30m31m33m
Shares outstanding at period endn/a9m9m10,59911m13m13m21m22m22,66923,10723,72527m29m29m30m32m32m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2010FY2011 †FY2012 †FY2013 †FY2014FY2015FY2016FY2017FY2018FY2019FY2020 †FY2021 †FY2022 †FY2023 †FY2024FY2025FY2026TTM
Funded by
Shareholders' equity11.39.16.55.07.04.6-0.716.819.315.514.111.451.075.6112123220220
Non-controlling interestn/an/a-0.0-0.0-0.0-0.0-0.0-0.0-0.0-0.0-0.00.0n/an/an/an/an/an/a
Debtn/an/an/an/a0.03.86.06.10.00.01.73.10.00.00.00.00.00.0
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/a0.01.61.00.26.25.79.99.39.3
Other liabilitiesn/a3.05.26.05.26.54.88.011.75.93.26.111.116.410.615.717.917.9
Total liabilities and equityn/a12.111.611.012.214.910.030.931.021.320.621.762.398.1128149247247
Owned
Fixed assetsn/a1.00.50.30.50.51.21.41.21.00.70.71.22.83.39.08.98.9
Goodwilln/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.010.710.710.7
Intangible assetsn/an/an/an/an/an/an/an/an/an/an/an/an/an/a0.010.89.69.6
Investmentsn/an/an/an/an/an/an/a0.0n/an/an/an/an/a17.90.0n/an/an/a
Cash and equivalents7.84.02.12.31.85.50.917.816.85.45.44.631.530.149.224.5116116
Receivablesn/a2.62.62.63.41.40.54.02.94.93.75.212.916.6n/an/an/an/a
Inventoryn/a5.06.15.46.17.17.06.69.09.18.08.815.123.937.542.041.441.4
Other assetsn/an/a0.40.30.40.40.31.11.00.92.82.41.77.038.051.559.859.8
Total assetsn/a12.111.611.012.214.910.030.931.021.320.621.762.398.1128149247247
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded13.2%24.7%-8.4%-15.2%
Profit growth, compoundedn/an/an/an/a
Return on equity, average-4.1%12.2%7.8%-3.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Aehr Test Systems' revenue in fiscal 2026?

Aehr Test Systems (AEHR) reported revenue of $50 million for fiscal 2026, the year ended 29 May 2026, down 15.2% on the year before.

How much did Aehr Test Systems earn in fiscal 2026?

Net loss was $7 million for fiscal 2026, and the diluted loss per share $0.23.

What is Aehr Test Systems' market cap?

The market cap of Aehr Test Systems was $2.1 billion at the close of 27 October 2026.

How much debt does Aehr Test Systems have?

At 29 May 2026 Aehr Test Systems carried $0 million of debt and $116 million of cash.

Peers: Measuring and Control Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Teradyne, Inc. TER$50.7 billion44.4833.5%30.2%57.9%0.000.2%
Veralto Corp. VLTO$25.2 billion26.0531.9%22.7%6.2%1.090.5%
10x Genomics, Inc. TXG$10.0 billionn/a-9.1%-14.3%-4.3%0.00n/a
Cognex Corp. CGNX$9.8 billion56.5310.7%21.9%17.1%0.000.6%
Bruker Corp. BRKR$9.3 billionn/a-3.0%-0.9%1.6%0.760.3%
Ralliant Corp. RAL$7.7 billionn/a-80.4%-53.3%n/a0.750.1%
Sensata Technologies Holding plc ST$6.2 billion16.9212.0%15.1%4.1%0.780.8%
Vontier Corp. VNT$4.7 billion14.4129.2%18.8%0.9%1.590.3%
Itron, Inc. ITRI$4.1 billion15.2816.5%13.7%-3.6%0.95n/a
Cohu Inc. COHU$2.6 billionn/a-5.0%-6.9%32.7%0.380.1%
Aehr Test Systems AEHR$2.1 billionn/a-3.2%-28.3%-15.2%0.00n/a
Allient Inc. ALNT$1.6 billion55.429.2%8.4%10.6%0.560.1%
All 33 in Measuring and Control Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Thermo Fisher Scientific Inc. TMO$256.3 billion37.2813.2%17.6%7.2%0.810.3%
KLA Corp. KLAC$200.9 billion41.9176.1%n/a11.7%0.930.5%
Danaher Corp. DHR$163.2 billion37.988.1%20.4%5.5%0.490.6%
Trane Technologies plc TT$101.5 billion34.9334.2%17.9%7.0%0.540.8%
Keysight Technologies, Inc. KEYS$57.2 billion46.1719.2%20.3%25.5%0.38n/a
AMETEK Inc. AME$56.5 billion36.0114.0%25.9%12.7%0.180.2%
Teradyne, Inc. TER$50.7 billion44.4833.5%30.2%57.9%0.000.2%
Agilent Technologies, Inc. A$50.1 billion34.9519.6%22.2%8.6%0.540.6%
Rockwell Automation, Inc. ROK$48.8 billion41.1634.4%22.7%11.3%0.931.2%
Coherent Corp. COHR$46.2 billion57.387.4%11.9%22.5%0.30n/a
Waters Corp. WAT$46.0 billion116.871.1%7.1%52.5%0.33n/a
Roper Technologies Inc. ROP$43.0 billion18.0013.4%28.0%10.9%0.610.8%
Illumina, Inc. ILMN$42.2 billion52.1129.1%19.7%4.9%0.70n/a
Mettler Toledo International Inc. MTD$36.6 billion37.967,062.4%n/a6.9%164.70n/a
Veralto Corp. VLTO$25.2 billion26.0531.9%22.7%6.2%1.090.5%
Fortive Corp. FTV$18.6 billion36.468.8%18.2%5.6%0.580.5%
Revvity, Inc. RVTY$18.1 billion77.073.3%12.3%4.1%0.450.2%
Trimble Inc. TRMB$14.7 billionn/a-2.0%17.0%5.8%0.29n/a
MKS Inc. MKSI$14.3 billion33.8514.7%15.7%16.3%1.320.4%
Avantor, Inc. AVTR$11.6 billionn/a-10.3%-4.6%-1.6%0.66n/a
Onto Innovation Inc. ONTO$10.5 billion80.556.9%12.0%8.1%0.00n/a
Bio-Rad Laboratories, Inc. BIO$10.2 billion46.173.1%2.1%1.4%0.17n/a
10x Genomics, Inc. TXG$10.0 billionn/a-9.1%-14.3%-4.3%0.00n/a
Cognex Corp. CGNX$9.8 billion56.5310.7%21.9%17.1%0.000.6%
Bruker Corp. BRKR$9.3 billionn/a-3.0%-0.9%1.6%0.760.3%
Ralliant Corp. RAL$7.7 billionn/a-80.4%-53.3%n/a0.750.1%
Sensata Technologies Holding plc ST$6.2 billion16.9212.0%15.1%4.1%0.780.8%
Vontier Corp. VNT$4.7 billion14.4129.2%18.8%0.9%1.590.3%
Itron, Inc. ITRI$4.1 billion15.2816.5%13.7%-3.6%0.95n/a
Cohu Inc. COHU$2.6 billionn/a-5.0%-6.9%32.7%0.380.1%
Aehr Test Systems AEHR$2.1 billionn/a-3.2%-28.3%-15.2%0.00n/a
Allient Inc. ALNT$1.6 billion55.429.2%8.4%10.6%0.560.1%
Mirion Technologies, Inc. MIR$289 million160.111.3%5.3%15.7%0.66n/a
5 companies share its SEC industry code (Instruments For Meas & Testing Of Electricity & Elec Signals); the rest are the names nearest in size in its wider industry, Measuring and Control Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-K29 May 202627 July 2026EDGAR
10-Q27 February 20268 April 2026EDGAR
10-Q28 November 202512 January 2026EDGAR
10-Q29 August 20258 October 2025EDGAR
10-K30 May 202528 July 2025EDGAR
10-Q28 February 202510 April 2025EDGAR
10-Q29 November 202413 January 2025EDGAR
10-Q30 August 202411 October 2024EDGAR
10-K31 May 202430 July 2024EDGAR
10-Q29 February 202410 April 2024EDGAR