Saturday 17 October 2026
Export AEHR’s income statement to Excel — free account
Aehr Test Systems
AEHR Technology Semiconductor Equipment & Materials
Aehr Test Systems' revenue for fiscal 2026 (year ended May 2026) was $50.0 million, down 15.2% from fiscal 2025. In the quarter to May 2026, revenue grew 33.7%, EPS grew 140.0% and free cash flow grew 133.2%, each against the same quarter a year earlier.
60.60
8.61
−12.44%
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| May '26 | May '25 | May '24 | May '23 | May '22 | May '21 | May '20 | May '19 | May '18 | May '17 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
3 | 1 | 5 | 5 | 7 | 2 | 5 | 2 | 5 | 5 |
P/E ratio |
0.00 | 0.00 | 10.10 | 63.50 | 23.94 | 0.00 | 0.00 | 0.00 | 111.59 | 0.00 |
P/S ratio |
57.42 | 4.85 | 5.01 | 14.12 | 4.29 | 3.55 | 1.67 | 1.86 | 1.91 | 3.94 |
Altman Z-Score |
63.15 | 7.25 | 13.58 | 25.67 | 12.21 | (1.14) | (0.14) | 0.35 | 1.67 | 1.06 |
Altman Z″-Score (non-manufacturers) |
12.12 | 7.50 | 11.70 | 7.56 | 7.22 | (8.54) | (6.01) | (5.27) | (1.16) | (2.30) |
P/FCF ratio |
0.00 | 0.00 | 329.39 | 106.08 | 199.63 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Beneish M-Score |
(2.28) | (1.69) | (0.64) | (0.89) | (0.41) | (2.13) | 0.88 | (1.24) | (1.31) | 2.07 |
P/Operating CF |
1,567.27 | (124.13) | 270.99 | 156.35 | (284.22) | (309.88) | (26.95) | (46.42) | 32.38 | (2,759.37) |
P/B ratio |
13.08 | 2.33 | 2.97 | 12.14 | 4.28 | 5.14 | 2.65 | 2.54 | 2.93 | 4.44 |
Price to Tangible BV |
14.41 | 2.82 | 2.97 | 12.14 | 4.28 | 5.14 | 2.65 | 2.54 | 2.93 | 4.44 |
EV/Sales |
55.13 | 4.46 | 4.29 | 13.41 | 3.71 | 3.38 | 1.50 | 1.90 | 1.76 | 3.41 |
EV/EBITDA |
0.00 | 0.00 | 24.86 | 60.21 | 21.30 | 0.00 | 0.00 | 0.00 | 38.95 | 0.00 |
EV/Operating CF |
(832.85) | (35.55) | 161.96 | 87.05 | 124.92 | (20.79) | (16.57) | (7.10) | (38.40) | (14.35) |
EV/FCF |
(512.79) | (21.23) | 282.43 | 100.75 | 172.51 | (19.18) | (15.34) | (6.89) | (26.98) | (12.98) |
Quick Ratio |
7.50 | 2.48 | 5.61 | 3.96 | 4.03 | 1.08 | 2.37 | 1.87 | 1.77 | 2.77 |
Current Ratio |
10.33 | 5.68 | 9.31 | 5.46 | 5.45 | 2.12 | 4.57 | 3.63 | 2.64 | 3.73 |
Net Debt/EBITDA |
10.96 | 10.72 | (4.30) | (3.31) | (3.56) | 0.75 | 1.58 | 1.19 | (8.06) | 2.59 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.75% | 8.16% | 0.00% | 19.74% | 19.78% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.15 | 0.12 | 0.00 | 0.32 | 0.36 |
Asset Turnover |
0.25 | 0.43 | 0.59 | 0.81 | 1.21 | 0.79 | 1.06 | 0.81 | 0.96 | 0.92 |
Operating CF/Net income |
0.46 | 1.89 | 0.05 | 0.69 | 0.16 | 1.33 | 0.72 | 1.08 | (2.56) | 0.80 |
Capex/Depreciation |
(0.59) | (1.47) | (0.55) | (1.24) | (0.40) | (0.69) | (0.42) | (0.40) | (1.37) | (1.14) |
Interest Coverage |
— | — | — | (10.74) | (600.00) | (90.91) | 276.50 | (19.84) | 2.29 | (7.27) |
| (4.16%) | (3.34%) | 35.42% | 23.00% | 30.27% | (15.89%) | (18.99%) | (30.14%) | 2.93% | (70.35%) | |
| (3.61%) | (2.83%) | 29.33% | 18.14% | 22.50% | (9.60%) | (13.38%) | (20.03%) | 1.71% | (27.62%) | |
ROIC |
(8.57%) | (3.61%) | 10.09% | 30.19% | 24.99% | (30.58%) | (16.77%) | (31.17%) | 6.69% | (60.39%) |
Return on Tangible Assets |
(4.06%) | (4.76%) | 36.60% | 19.29% | 18.83% | (18.77%) | (19.39%) | (33.63%) | 2.71% | (24.67%) |
Average Days of Receivables |
127.55 | 87.84 | 54.00 | 93.24 | 92.34 | 114.38 | 60.86 | 84.23 | 35.27 | 77.45 |
Research and Development Expense of Revenue |
25.27% | 17.74% | 13.17% | 10.98% | 11.45% | 22.00% | 15.19% | 19.72% | 14.15% | 24.64% |
Selling, General and Administrative Expense of Revenue |
38.32% | 31.00% | 20.76% | 18.84% | 19.77% | 39.53% | 33.78% | 36.68% | 24.67% | 37.32% |
Intangible Assets out of Total Assets |
0.08 | 0.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
13.52% | 8.75% | 3.80% | 4.23% | 5.91% | 6.63% | 4.08% | 4.30% | 3.37% | 5.29% |
Graham Net Nets |
0.05 | 0.22 | 0.25 | 0.07 | 0.22 | 0.15 | 0.30 | 0.36 | 0.31 | 0.21 |
Graham Number |
0.00 | 0.00 | 9.97 | 5.64 | 3.93 | 0.00 | 0.00 | 0.00 | 0.68 | 0.00 |
Earnings Yield |
(0.26%) | (1.35%) | 9.90% | 1.57% | 4.18% | (3.40%) | (7.98%) | (13.42%) | 0.90% | (7.64%) |
Free Cash Flow Yield |
(0.19%) | (4.34%) | 0.30% | 0.94% | 0.50% | (4.97%) | (5.86%) | (14.83%) | (3.40%) | (6.67%) |
Revenue per Share |
1.63 | 1.99 | 2.30 | 2.34 | 1.95 | 0.71 | 0.97 | 0.94 | 1.36 | 1.16 |
Operating CF per Share |
(0.11) | (0.25) | 0.06 | 0.36 | 0.06 | (0.12) | (0.09) | (0.25) | (0.06) | (0.28) |
Capex per Share |
(0.07) | (0.17) | (0.03) | (0.05) | (0.02) | (0.01) | (0.01) | (0.01) | (0.03) | (0.03) |
Free Cash Flow per Share |
(0.18) | (0.42) | 0.03 | 0.31 | 0.04 | (0.12) | (0.10) | (0.26) | (0.09) | (0.31) |
Cash per Share |
3.79 | 0.83 | 1.71 | 1.72 | 1.21 | 0.20 | 0.24 | 0.24 | 0.78 | 1.09 |
Shareholders Equity per Share |
7.16 | 4.15 | 3.87 | 2.72 | 1.96 | 0.49 | 0.61 | 0.69 | 0.89 | 1.03 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
7.16 | 4.15 | 3.87 | 2.72 | 1.96 | 0.49 | 0.61 | 0.69 | 0.89 | 1.03 |
Free Cash Flow |
(5.38) | (12.39) | 1.01 | 8.65 | 1.09 | (2.93) | (2.19) | (5.81) | (1.92) | (4.97) |
Working Capital |
166.59 | 73.14 | 87.34 | 72.72 | 48.99 | 10.12 | 13.79 | 14.52 | 18.31 | 21.49 |
Capital Expenditures |
(2.07) | (4.99) | (0.75) | (1.36) | (0.42) | (0.23) | (0.16) | (0.17) | (0.57) | (0.48) |
Net Current Asset Value |
157.27 | 63.14 | 81.53 | 66.49 | 48.67 | 8.97 | 11.13 | 14.18 | 17.79 | 15.28 |
EV/EBIT |
0.00 | 0.00 | 28.22 | 65.15 | 24.15 | 0.00 | 0.00 | 0.00 | 56.69 | 0.00 |
Capex to Sales |
0.04 | 0.08 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 |
Price to Operating Income |
0.00 | 0.00 | 32.91 | 68.60 | 27.95 | 0.00 | 0.00 | 0.00 | 61.75 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.39 | 0.38 | 0.42 | 0.40 | 0.87 | 0.48 | 0.58 | 0.41 | 0.35 | 0.30 |
Cash ROIC |
(1.60%) | (8.41%) | 0.63% | 7.00% | 1.32% | (16.53%) | (10.33%) | (27.82%) | (4.55%) | (12.21%) |
Accounts Receivable Turnover |
3.16 | 4.92 | 5.02 | 4.41 | 5.63 | 3.72 | 5.20 | 5.46 | 8.61 | 8.34 |
Accounts Payable Turnover |
4.80 | 5.81 | 4.63 | 4.81 | 7.66 | 5.51 | 9.67 | 7.28 | 7.51 | 5.74 |
Inventory Turnover |
0.78 | 0.88 | 1.10 | 1.65 | 2.27 | 1.26 | 1.63 | 1.49 | 2.19 | 1.78 |
Average Days of Payables |
76.20 | 70.09 | 57.79 | 104.31 | 56.37 | 99.92 | 24.78 | 52.44 | 37.46 | 84.58 |
Days of Inventory on Hand |
466.59 | 437.53 | 406.13 | 270.88 | 202.24 | 305.63 | 209.48 | 245.82 | 192.37 | 198.92 |
Average Receivables |
15.83 | 11.99 | 13.20 | 14.73 | 9.03 | 4.46 | 4.29 | 3.86 | 3.43 | 2.27 |
Average Payables |
6.74 | 6.03 | 7.27 | 6.70 | 3.54 | 1.92 | 1.44 | 1.85 | 2.29 | 2.11 |
Average Inventory |
41.68 | 39.73 | 30.69 | 19.48 | 11.95 | 8.42 | 8.53 | 9.06 | 7.83 | 6.82 |
Average Assets |
197.60 | 138.21 | 113.03 | 80.24 | 42.00 | 21.12 | 20.94 | 26.13 | 30.92 | 20.47 |
Average Common Equity |
171.19 | 117.23 | 93.60 | 63.29 | 31.22 | 12.75 | 14.75 | 17.37 | 18.04 | 8.04 |
Columns are period end dates