Aehr Test Systems (AEHR)
Market Price (3/13/2026): $37.28 | Market Cap: $1.1 BilSector: Information Technology | Industry: Semiconductor Materials & Equipment
Aehr Test Systems (AEHR)
Market Price (3/13/2026): $37.28Market Cap: $1.1 BilSector: Information TechnologyIndustry: Semiconductor Materials & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Renewable Energy Transition, and Artificial Intelligence. Themes include EV Manufacturing, Show more. | Weak multi-year price returns3Y Excs Rtn is -50% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -23% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% | Expensive valuation multiplesP/SPrice/Sales ratio is 21x | |
| Stock price has recently run up significantly12M Rtn12 month market price return is 324% | ||
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%, Rev Chg QQuarterly Revenue Change % is -27% | ||
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -22% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9% | ||
| High stock price volatilityVol 12M is 109% | ||
| Key risksAEHR key risks include [1] its heavy dependence on a single major customer in the Silicon Carbide/EV market and [2] the potential failure to convert strategic evaluations with new AI processor suppliers into high-volume production orders. |
| Megatrend and thematic driversMegatrends include Electric Vehicles & Autonomous Driving, Renewable Energy Transition, and Artificial Intelligence. Themes include EV Manufacturing, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -50% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -23% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 21x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 324% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%, Rev Chg QQuarterly Revenue Change % is -27% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -10%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -22% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9% |
| High stock price volatilityVol 12M is 109% |
| Key risksAEHR key risks include [1] its heavy dependence on a single major customer in the Silicon Carbide/EV market and [2] the potential failure to convert strategic evaluations with new AI processor suppliers into high-volume production orders. |
Qualitative Assessment
AI Analysis | Feedback
1. Significant orders for AI processor testing systems fueled investor confidence and demand. Aehr secured multiple key orders for its advanced test and burn-in solutions, particularly for next-generation AI processors and data center interconnects. Notably, the company announced a $14 million order from its lead AI processor customer in February 2026 for FOX systems and related products. This followed an initial order for Sonoma ultra-high-power package-level test and burn-in systems from a leading hyperscale customer for AI ASIC processors earlier in February 2026, which caused the stock to surge by 15%. A subsequent follow-on order for AI optical I/O and data center interconnects was announced in March 2026. These substantial wins confirmed the accelerating demand for Aehr's AI-related products and their pivotal role in the semiconductor industry's shift towards AI.
2. Reinstated and strong financial guidance provided a positive outlook for future growth. On January 8, 2026, Aehr Test Systems reported its fiscal Q2 2026 results (ended November 28, 2025) and, more importantly, reinstated its guidance for the second half of fiscal year 2026. The company projected revenues between $25 million and $30 million for this period, which began on November 29, 2025. Crucially, Aehr also forecast much higher bookings, ranging from $60 million to $80 million, for the second half of fiscal 2026, signaling a strong setup for fiscal year 2027. This improved visibility into future demand and the significant projected bookings reassured investors of the company's growth trajectory.
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Stock Movement Drivers
Fundamental Drivers
The 63.9% change in AEHR stock from 11/30/2025 to 3/12/2026 was primarily driven by a 76.4% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.97 | 37.65 | 63.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 57 | 53 | -6.3% |
| P/S Multiple | 12.1 | 21.3 | 76.4% |
| Shares Outstanding (Mil) | 30 | 30 | -0.8% |
| Cumulative Contribution | 63.9% |
Market Drivers
11/30/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| AEHR | 63.9% | |
| Market (SPY) | -2.5% | 56.3% |
| Sector (XLK) | -3.7% | 58.5% |
Fundamental Drivers
The 50.9% change in AEHR stock from 8/31/2025 to 3/12/2026 was primarily driven by a 69.1% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.95 | 37.65 | 50.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 59 | 53 | -9.7% |
| P/S Multiple | 12.6 | 21.3 | 69.1% |
| Shares Outstanding (Mil) | 30 | 30 | -1.2% |
| Cumulative Contribution | 50.9% |
Market Drivers
8/31/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| AEHR | 50.9% | |
| Market (SPY) | 3.5% | 54.0% |
| Sector (XLK) | 5.2% | 54.1% |
Fundamental Drivers
The 290.6% change in AEHR stock from 2/28/2025 to 3/12/2026 was primarily driven by a 278.6% change in the company's P/S Multiple.| (LTM values as of) | 2282025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.64 | 37.65 | 290.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 51 | 53 | 5.0% |
| P/S Multiple | 5.6 | 21.3 | 278.6% |
| Shares Outstanding (Mil) | 30 | 30 | -1.7% |
| Cumulative Contribution | 290.6% |
Market Drivers
2/28/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| AEHR | 290.6% | |
| Market (SPY) | 13.1% | 48.1% |
| Sector (XLK) | 22.8% | 51.3% |
Fundamental Drivers
The 12.9% change in AEHR stock from 2/28/2023 to 3/12/2026 was primarily driven by a 41.6% change in the company's P/S Multiple.| (LTM values as of) | 2282023 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 33.35 | 37.65 | 12.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 61 | 53 | -12.8% |
| P/S Multiple | 15.1 | 21.3 | 41.6% |
| Shares Outstanding (Mil) | 28 | 30 | -8.6% |
| Cumulative Contribution | 12.9% |
Market Drivers
2/28/2023 to 3/12/2026| Return | Correlation | |
|---|---|---|
| AEHR | 12.9% | |
| Market (SPY) | 74.3% | 40.9% |
| Sector (XLK) | 106.0% | 41.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| AEHR Return | 856% | -17% | 32% | -37% | 21% | 110% | 1578% |
| Peers Return | 41% | -43% | 53% | -7% | 79% | 19% | 141% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| AEHR Win Rate | 58% | 50% | 42% | 33% | 50% | 100% | |
| Peers Win Rate | 65% | 33% | 60% | 45% | 53% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| AEHR Max Drawdown | -22% | -71% | -14% | -62% | -59% | 0% | |
| Peers Max Drawdown | -12% | -56% | -13% | -24% | -21% | -3% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ZBRA, MASS, AMAT, LRCX, KLAC. See AEHR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/12/2026 (YTD)
How Low Can It Go
| Event | AEHR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -73.0% | -25.4% |
| % Gain to Breakeven | 270.6% | 34.1% |
| Time to Breakeven | 145 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -57.3% | -33.9% |
| % Gain to Breakeven | 134.2% | 51.3% |
| Time to Breakeven | 314 days | 148 days |
| 2018 Correction | ||
| % Loss | -80.4% | -19.8% |
| % Gain to Breakeven | 410.4% | 24.7% |
| Time to Breakeven | 914 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -92.6% | -56.8% |
| % Gain to Breakeven | 1246.1% | 131.3% |
| Time to Breakeven | 4,462 days | 1,480 days |
Compare to ZBRA, MASS, AMAT, LRCX, KLAC
In The Past
Aehr Test Systems's stock fell -73.0% during the 2022 Inflation Shock from a high on 11/5/2021. A -73.0% loss requires a 270.6% gain to breakeven.
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About Aehr Test Systems (AEHR)
AI Analysis | Feedback
Analogy 1: Applied Materials for semiconductor testing
Analogy 2: ASML for chip reliability
AI Analysis | Feedback
- FOX™ Wafer-Level Test and Burn-in Systems: These systems provide full wafer contact and parallel test and burn-in for an entire wafer of integrated circuits simultaneously.
- ABTS™ Packaged Part Test and Burn-in Systems: These systems offer parallel test and burn-in for individual packaged semiconductor devices across various configurations.
- WaferPak™ Contactors and DiePaks™ Carriers: These are specialized interfaces and carriers enabling the electrical contact and handling of wafers and individual die within the FOX systems.
- Test Fixtures and Burn-in Boards: Custom-designed boards and fixtures used to connect devices under test to the ABTS systems for proper electrical stimulus and measurement during testing.
AI Analysis | Feedback
Aehr Test Systems (AEHR) sells primarily to other companies, specifically within the semiconductor industry. Its customers are generally manufacturers of semiconductor devices and modules, including Integrated Device Manufacturers (IDMs), Outsourced Semiconductor Assembly and Test (OSAT) providers, and fabless semiconductor companies.
Based on their latest 10-K filing (for the fiscal year ended May 31, 2023), Aehr Test Systems noted that two customers each accounted for 10% or more of their total net revenues, collectively representing approximately 63% of their net revenues for fiscal year 2023. While Aehr Test Systems typically refers to its largest customers in general terms (e.g., "a leading silicon carbide semiconductor manufacturer") without explicitly naming them in their financial filings, industry analysts and investor communications widely understand their primary customer to be:
- ON Semiconductor (Symbol: ON)
This identification is based on Aehr's frequent references to a "lead silicon carbide customer" ramping high-volume production for electric vehicle and industrial applications, which aligns with ON Semiconductor's significant investments and market position in silicon carbide (SiC) power semiconductors.
The identity of the second major customer has not been publicly disclosed by Aehr Test Systems.
AI Analysis | Feedback
nullAI Analysis | Feedback
Gayn Erickson, President and Chief Executive Officer
Gayn Erickson joined Aehr Test Systems as President and CEO in January 2012. He co-founded Verigy, where he previously served as Corporate Officer and Senior Vice President & General Manager of its memory test business. Prior to Verigy, he was Vice President of Marketing and Sales for Agilent Technologies' Semiconductor Memory Test products. His career in semiconductor test began at Hewlett-Packard's Automated Test Group in the late 1980s. He possesses over 35 years of experience in the semiconductor capital equipment market.
Chris Siu, Chief Financial Officer, Executive Vice President of Finance, and Secretary
Chris Siu was appointed Chief Financial Officer, Executive Vice President of Finance, and Secretary of Aehr Test Systems in June 2023. Before joining Aehr, Mr. Siu spent four years in senior finance executive roles at Ultra Clean Technologies, including Senior Vice President of Finance, Corporate Treasurer, and Chief Accounting Officer. He also held senior management positions at PDF Solutions and GlobalFoundries, where he served as Corporate Controller for four years. Additionally, Mr. Siu was Chief Accounting Officer and Director of Finance at Trident Microsystems. He began his career in public accounting with EY and Deloitte.
Adil Engineer, Chief Operating Officer
Adil Engineer joined Aehr Test Systems as Chief Operating Officer in April 2022. Prior to Aehr, he was the Head of Operations at Tecan, a Swiss company specializing in medical test and diagnostic tools. He also spent 11 years at KLA-Tencor and held positions of increasing responsibility in manufacturing, manufacturing engineering, new product introduction, and supply chain at Coherent and Kateeva. He has over 20 years of experience in operations and supply chain within the semiconductor and medical equipment fields.
Vernon Rogers, Executive Vice President of Sales and Marketing
Vernon Rogers' career has focused on nanoscale inspection, manufacturing, and test technologies with industry leaders such as LitePoint (acquired by Teradyne), Credence Systems Corporation (acquired by Xcerra), NPTest (acquired by Credence Systems), and Schlumberger Automated Test Equipment. He also oversaw sales for FlexStar Technology, a company focused on hard disk drive and solid-state drive test and burn-in.
Dave Hendrickson, Chief Technology Officer, VP of Engineering
Dave Hendrickson joined Aehr Test Systems as Vice President of Engineering in October 2000. Before that, from 1999 to 2000, he was Platform General Manager, and from 1995 to 1999, Engineering Director and Software Director, at Siemens Medical (formerly Acuson Corporation). From 1990 to 1995, he served as Director of Engineering and Director of Software at Teradyne Inc.
AI Analysis | Feedback
The key risks to Aehr Test Systems (AEHR) business are:
-
Customer Concentration and Reliance on the Silicon Carbide/Electric Vehicle Market: Aehr Test Systems has historically been highly dependent on a single major customer, with approximately 88% of its first-quarter fiscal year 2024 revenue coming from one customer, primarily within the Silicon Carbide (SiC) wafer-level burn-in (WLBI) segment. This segment is largely driven by the Electric Vehicle (EV) market. A slowdown in the EV market during calendar year 2025 directly impacted Aehr, contributing to a net revenue decline and a GAAP net loss in fiscal year 2025. There is also a risk that this key customer could develop an in-house or alternative burn-in solution.
-
Execution Risk in New, High-Growth Segments: To mitigate its reliance on the SiC market, Aehr Test Systems is strategically expanding into new areas, particularly Artificial Intelligence (AI) processors, which constituted over 35% of its business in fiscal year 2025. A significant risk is that the ongoing evaluations with leading AI processor suppliers may not translate into high-volume production orders, which could negatively impact the company's financial performance.
-
Cyclical and Highly Competitive Semiconductor Industry and Geopolitical Factors: The semiconductor equipment industry is inherently cyclical and intensely competitive. Aehr faces risks from larger competitors potentially introducing more advanced or cost-effective products, leading to increased price competition and potentially eroding operating margins. Furthermore, geopolitical tensions, such as new U.S. tariff announcements and their secondary effects on customer orders and the supply chain, can impact the timing of large orders, particularly given that a substantial portion of Aehr's net sales are from outside the United States.
AI Analysis | Feedback
The emergence of strong, nationally-supported domestic semiconductor test equipment suppliers, particularly in China, driven by national industrial policies and geopolitical efforts to build self-sufficient semiconductor supply chains. This trend poses a threat by potentially decreasing market access and demand for foreign test equipment providers like Aehr Test Systems in significant growth regions.
AI Analysis | Feedback
Aehr Test Systems (NASDAQ: AEHR) primarily focuses on providing test systems for burning-in and testing memory and logic integrated circuits, with a significant presence in wafer-level burn-in solutions. The company's main products and services address several key markets, including wafer-level test and burn-in, silicon photonics testing, automotive semiconductor testing, and AI processor testing.
Addressable Markets:
-
Wafer-Level Test and Burn-in (WLTBI):
The global Wafer-level Test and Burn-in (WLTBI) market was valued at approximately USD 2.1 billion in 2024. It is forecasted to increase to USD 2.29 billion in 2025 and is projected to surpass USD 4.5 billion by 2033, expanding at a Compound Annual Growth Rate (CAGR) of about 9.2% during the period 2025-2033. Other estimates place the global WLTBI market at USD 2.45 billion in 2025, with projections to reach USD 5.48 billion by 2033, at a CAGR of 10.60% from 2025 to 2033. The Asia-Pacific region holds the largest share of the global WLTBI market, accounting for approximately 50% of the total market revenue.
-
Silicon Photonics Testing Equipment:
The global Silicon Photonics Testing Equipment market size is estimated to reach USD 2.5 billion by 2030, growing at a CAGR of 25% during the forecast period 2025-2031. Another report indicates the global silicon photonics test system market reached USD 1.52 billion in 2024 and is forecasted to attain a value of USD 5.67 billion by the end of 2033, registering a CAGR of 15.8% from 2025 to 2033. The broader global silicon photonics market, which includes testing, was valued at USD 2.69 billion in 2024 and is projected to grow to USD 15.83 billion by 2032, exhibiting a CAGR of 25.3% during the forecast period. North America held a significant market share of 35.27% in 2024.
-
Automotive Semiconductor Test Equipment:
The global Automotive Semiconductor Test Equipment market size was valued at USD 2.7 billion in 2024 and is projected to reach USD 6.4 billion by 2033, exhibiting a CAGR of 8.9% during the forecast period 2025-2033. North America contributes approximately 31% to the global demand for automotive semiconductor test equipment, with the United States accounting for nearly 85% of this regional demand. Europe represents approximately 29% of this market. The overall automotive semiconductor market is forecast to increase by USD 31.29 billion, at a CAGR of 9.45% between 2023 and 2028 globally.
-
AI Processors Testing (Wafer-level and Packaged Part Burn-in):
The combined wafer-level burn-in (WLBI) and packaged part burn-in (PPBI) market for AI processors could exceed USD 100 million annually globally. Aehr aims to capture a "meaningful share" of this annual AI testing market.
AI Analysis | Feedback
Aehr Test Systems (NASDAQ: AEHR) is poised for future revenue growth over the next 2-3 years, driven by its specialized semiconductor test and burn-in solutions across several high-growth markets. Key drivers include the continued expansion of silicon carbide (SiC) devices, increasing demand for artificial intelligence (AI) processors, the growth of silicon photonics, and the adoption of gallium nitride (GaN) power semiconductors, complemented by recurring revenue from consumables and strategic customer engagements.
Here are 3-5 expected drivers of future revenue growth for Aehr Test Systems:
- Growing Demand for Silicon Carbide (SiC) Semiconductors in Electric Vehicles and Industrial Applications: Aehr Test Systems holds a leadership position in wafer-level burn-in (WLBI) solutions for the silicon carbide market. While there has been some recent slowing in the electric vehicle (EV) market growth, Aehr remains confident in the long-term opportunity for SiC, particularly as EVs continue to grow globally and SiC devices gain traction in other markets such as power infrastructure, solar, and various industrial applications. The company's FOX platform offers distinct capabilities for these devices.
- Expansion into Artificial Intelligence (AI) Processor Testing: Aehr has significantly expanded its addressable market by entering the AI processor testing segment. The company is experiencing strong momentum and customer engagements in both wafer-level and packaged part test and burn-in of AI processors. This strategic diversification is evident as AI processors, which represented 0% of Aehr's revenue in fiscal year 2024, accounted for over 35% of revenue in fiscal year 2025. Orders from leading AI processor suppliers and major hyperscalers are anticipated to be significant growth catalysts.
- Increased Adoption of Silicon Photonics Devices: The growing market for silicon photonics integrated circuits presents another substantial revenue opportunity for Aehr Test Systems. Aehr's specialized test systems are well-suited for the reliability challenges of these devices, which are crucial for data centers and high-speed communication.
- Growth in Gallium Nitride (GaN) Power Semiconductors: Aehr has also diversified its product offerings to include testing solutions for gallium nitride (GaN) power semiconductors. This expansion positions the company to capitalize on the increasing demand for GaN chips, which are used in various power applications and could benefit from growth in EV manufacturing volume.
- Recurring Revenue from Consumables (WaferPak and DiePak): A consistent driver of revenue growth for Aehr is the recurring sale of its proprietary consumables, specifically WaferPak contactors and DiePak carriers. These consumables are specialized for specific chip designs and are required with each FOX-P series tester, providing an ongoing revenue stream as customers utilize their installed base of systems and purchase new consumables for new device designs.
AI Analysis | Feedback
Share Repurchases
- Aehr Test Systems has not engaged in significant open-market share repurchase programs as a capital allocation strategy in the last 3-5 years.
- The company repurchased shares primarily for tax withholdings on the vesting of restricted stock units, amounting to $0.784 million in fiscal 2025 and $1.596 million in fiscal 2024.
Share Issuance
- In February 2023, Aehr announced an At-The-Market (ATM) offering to sell up to $25 million of common stock.
- The proceeds from this offering were intended for general corporate purposes, including increasing working capital and inventory, funding research and development, commercial activities, and capital expenditures.
- The company also issued common stock under employee plans, generating proceeds of $1.409 million in fiscal 2025 and $1.807 million in fiscal 2024.
Inbound Investments
- Aehr Test Systems raised an undisclosed amount in a Post IPO funding round on February 6, 2022, with participation from investors including Herald Investment Management, Summit Partners, QVT Family Office, and Deutsche Bank.
Outbound Investments
- Aehr Test Systems completed the acquisition of Incal Technology, Inc. on August 1, 2024, for $21 million, comprising $14 million in cash and 552,355 shares of Aehr stock valued at $12.67 per share.
- This acquisition expanded Aehr's product portfolio to include high-power packaged part reliability/burn-in test solutions, specifically for AI accelerators, GPUs, and high-performance computing (HPC) processors.
- Incal Technology generated $12 million in the 12-month period ending June 30, 2024, prior to the acquisition.
Capital Expenditures
- Capital expenditures were $4.992 million in fiscal 2025 and $0.749 million in fiscal 2024.
- In the first quarter of fiscal 2026 (ended August 29, 2025), capital expenditures totaled $1.391 million, contributing to a total of $6.3 million spent on facility expansion.
- The primary focus of recent capital expenditures has been to support the consolidation and upgrade of its Fremont manufacturing facility and headquarters, and to expand capabilities for new product lines, particularly for AI processors.
Latest Trefis Analyses
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Research & Analysis
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 206.77 |
| Mkt Cap | 97.6 |
| Rev LTM | 9,070 |
| Op Inc LTM | 3,076 |
| FCF LTM | 2,604 |
| FCF 3Y Avg | 2,100 |
| CFO LTM | 2,842 |
| CFO 3Y Avg | 2,303 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.9% |
| Rev Chg 3Y Avg | 3.8% |
| Rev Chg Q | 2.5% |
| QoQ Delta Rev Chg LTM | 0.6% |
| Op Mgn LTM | 22.3% |
| Op Mgn 3Y Avg | 21.8% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 23.9% |
| CFO/Rev 3Y Avg | 21.3% |
| FCF/Rev LTM | 18.7% |
| FCF/Rev 3Y Avg | 17.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 97.6 |
| P/S | 11.1 |
| P/EBIT | 21.4 |
| P/E | 29.3 |
| P/CFO | 20.9 |
| Total Yield | 2.9% |
| Dividend Yield | 0.2% |
| FCF Yield 3Y Avg | 3.6% |
| D/E | 0.0 |
| Net D/E | -0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.4% |
| 3M Rtn | 18.8% |
| 6M Rtn | 44.5% |
| 12M Rtn | 118.5% |
| 3Y Rtn | 113.1% |
| 1M Excs Rtn | -2.0% |
| 3M Excs Rtn | 21.7% |
| 6M Excs Rtn | 43.4% |
| 12M Excs Rtn | 101.1% |
| 3Y Excs Rtn | 38.6% |
Price Behavior
| Market Price | $37.65 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 08/15/1997 | |
| Distance from 52W High | -14.5% | |
| 50 Days | 200 Days | |
| DMA Price | $30.47 | $23.41 |
| DMA Trend | up | up |
| Distance from DMA | 23.6% | 60.9% |
| 3M | 1YR | |
| Volatility | 123.3% | 108.8% |
| Downside Capture | 449.21 | 337.29 |
| Upside Capture | 797.85 | 429.28 |
| Correlation (SPY) | 53.4% | 46.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 7.44 | 5.42 | 5.27 | 4.54 | 2.58 | 2.49 |
| Up Beta | 8.06 | 7.89 | 7.62 | 4.54 | 2.57 | 2.34 |
| Down Beta | 11.38 | 4.86 | 4.07 | 3.07 | 1.42 | 1.51 |
| Up Capture | 1155% | 1166% | 1114% | 1424% | 2917% | 12491% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 12 | 25 | 33 | 62 | 124 | 345 |
| Down Capture | 305% | 207% | 308% | 300% | 164% | 113% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 9 | 16 | 28 | 62 | 125 | 403 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEHR | |
|---|---|---|---|---|
| AEHR | 364.8% | 108.9% | 1.90 | - |
| Sector ETF (XLK) | 33.1% | 26.8% | 1.04 | 50.1% |
| Equity (SPY) | 21.0% | 18.9% | 0.87 | 46.9% |
| Gold (GLD) | 74.9% | 26.2% | 2.12 | 18.3% |
| Commodities (DBC) | 19.3% | 17.2% | 0.89 | 20.0% |
| Real Estate (VNQ) | 5.7% | 16.3% | 0.16 | 26.5% |
| Bitcoin (BTCUSD) | -16.1% | 44.2% | -0.27 | 31.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEHR | |
|---|---|---|---|---|
| AEHR | 73.5% | 106.7% | 0.98 | - |
| Sector ETF (XLK) | 17.3% | 24.7% | 0.63 | 37.9% |
| Equity (SPY) | 13.2% | 17.0% | 0.61 | 36.6% |
| Gold (GLD) | 24.2% | 17.3% | 1.14 | 8.9% |
| Commodities (DBC) | 10.9% | 19.0% | 0.46 | 8.4% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 21.8% |
| Bitcoin (BTCUSD) | 7.3% | 56.8% | 0.35 | 17.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with AEHR | |
|---|---|---|---|---|
| AEHR | 41.5% | 94.2% | 0.78 | - |
| Sector ETF (XLK) | 22.0% | 24.2% | 0.83 | 29.6% |
| Equity (SPY) | 14.7% | 17.9% | 0.70 | 28.2% |
| Gold (GLD) | 14.6% | 15.6% | 0.77 | 6.6% |
| Commodities (DBC) | 8.8% | 17.6% | 0.41 | 9.2% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 19.0% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 8.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/8/2026 | 15.9% | 16.9% | 21.5% |
| 10/6/2025 | -17.4% | -19.4% | -21.6% |
| 7/8/2025 | -12.4% | -7.4% | 19.8% |
| 4/8/2025 | 29.2% | 26.0% | 24.3% |
| 1/13/2025 | -27.1% | -17.3% | -36.0% |
| 10/10/2024 | 20.3% | 11.0% | -9.9% |
| 7/9/2024 | 24.0% | 35.7% | 5.1% |
| 4/9/2024 | -2.1% | -1.6% | -4.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 10 |
| # Negative | 13 | 14 | 13 |
| Median Positive | 22.5% | 18.2% | 22.9% |
| Median Negative | -16.7% | -13.0% | -19.8% |
| Max Positive | 34.3% | 120.5% | 107.4% |
| Max Negative | -27.1% | -33.3% | -44.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 11/30/2025 | 01/12/2026 | 10-Q |
| 08/31/2025 | 10/08/2025 | 10-Q |
| 05/31/2025 | 07/28/2025 | 10-K |
| 02/28/2025 | 04/10/2025 | 10-Q |
| 11/30/2024 | 01/13/2025 | 10-Q |
| 08/31/2024 | 10/11/2024 | 10-Q |
| 05/31/2024 | 07/30/2024 | 10-K |
| 02/29/2024 | 04/10/2024 | 10-Q |
| 11/30/2023 | 01/12/2024 | 10-Q |
| 08/31/2023 | 10/12/2023 | 10-Q |
| 05/31/2023 | 08/28/2023 | 10-K |
| 02/28/2023 | 04/13/2023 | 10-Q |
| 11/30/2022 | 01/13/2023 | 10-Q |
| 08/31/2022 | 10/14/2022 | 10-Q |
| 05/31/2022 | 08/26/2022 | 10-K |
| 02/28/2022 | 04/13/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Slayen, Howard T | Director | Direct | Sell | 11052025 | 25.73 | 6,000 | 154,357 | 5,616,750 | Form |
| 2 | Danesh, Fariba | Director | Direct | Sell | 10102025 | 24.79 | 9,000 | 223,101 | 412,564 | Form |
| 3 | Oliphant, Laura | Director | Trust | Sell | 7252025 | 21.50 | 5,000 | 107,502 | 164,800 | Form |
| 4 | Posedel, Rhea J | Director | Direct | Sell | 7242025 | 19.83 | 18,000 | 356,972 | 1,411,290 | Form |
| 5 | Sporck, Alistair N | VP Contactor Business Unit | Direct | Sell | 7182025 | 14.13 | 3,000 | 42,390 | 435,317 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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