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AEHR · Nasdaq · United States · Instruments For Meas & Testing Of Electricity & Elec Signals
In shortAEHR TEST SYSTEMS is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -28.3% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -14.3% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -4.2% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 10.33× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 12.12 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -10.8% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 93.3% | 0/100 |
| Operating margin volatility | 20.9% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -8.4% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 51 | 65 | 66 | 59 | 50 |
| Cost of revenue | 27 | 32 | 34 | 35 | 32 |
| Gross profit | 24 | 33 | 33 | 24 | 18 |
| Research & development | 5.8 | 7.1 | 8.7 | 10 | 13 |
| Selling, general & admin | 10 | 12 | 14 | 18 | 19 |
| Operating income | 7.8 | 13 | 10 | (5.7) | (14) |
| Pre-tax income | 9.5 | 15 | 12 | (4.3) | (12) |
| Income tax | 0.1 | 0.1 | (21) | (0.4) | (4.6) |
| Net income | 9.5 | 15 | 33 | (3.9) | (7.1) |
| Diluted EPS | $0.34 | $0.50 | $1.12 | −$0.13 | −$0.23 |
| Diluted shares (millions) | 28 | 29 | 30 | 30 | 31 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
12.12 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: May 29, 2026 · Data updated Jul 27, 2026