AEHR TEST SYSTEMS
AEHR TEST SYSTEMS
AEHR TEST SYSTEMS (AEHR) — SEC Financial Statements & Analysis
AEHR TEST SYSTEMS (AEHR) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-02-28 | 2025-11-30 | 2025-08-31 | 2025-05-31 | 2025-02-28 | 2024-11-30 | 2024-08-31 | 2024-05-31 | 2024-02-29 | 2023-11-30 | 2023-08-31 | 2023-05-31 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 37 | 31 | 23 | 25 | 29 | 32 | 38 | 49 | 48 | 51 | 51 | 30 | |||||
Other Short Term Investments | - | - | - | - | - | - | - | - | - | - | - | 18 | |||||
Accounts Receivable Net | 12 | 10 | 13 | 14 | 12 | 7 | 9 | 10 | 5 | 5 | 13 | 17 | |||||
Accounts And Other Receivables Net Current | - | - | - | - | - | - | - | - | - | - | - | 17 | |||||
Short Term Investments | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | 18 | |||||
Inventory Net | 41 | 43 | 42 | 42 | 42 | 44 | 43 | 37 | 38 | 34 | 32 | 24 | |||||
Prepaid Expense And Other Assets Current | 6 | 4 | 6 | 8 | 8 | 5 | 4 | 1 | 1 | 3 | 1 | 1 | |||||
Assets Current | 96 | 88 | 84 | 89 | 92 | 89 | 93 | 98 | 92 | 92 | 96 | 89 | |||||
Property Plant And Equipment Net | 9 | 9 | 9 | 9 | 7 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | |||||
Goodwill | 11 | 11 | 11 | 11 | 11 | 11 | 10 | 0 | - | - | - | - | |||||
Intangible Assets Net Excluding Goodwill | 10 | 10 | 10 | 11 | 11 | 12 | 12 | 0 | - | - | - | - | |||||
Deferred Income Tax Assets Net | 22 | 21 | 20 | 19 | 19 | 19 | 18 | 21 | - | - | - | 0 | |||||
Operating Lease Right Of Use Asset | 9 | 9 | 9 | 10 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |||||
Other Assets Noncurrent | 0 | 0 | 1 | 1 | 0 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | |||||
Assets | 157 | 149 | 144 | 149 | 146 | 142 | 146 | 128 | 102 | 101 | 105 | 98 | |||||
Liabilities Current | |||||||||||||||||
Liabilities And Stockhold… | |||||||||||||||||
Accounts Payable Current | 2 | 4 | 3 | 7 | 7 | 5 | 6 | 5 | 5 | 4 | 8 | 9 | |||||
Accrued Liabilities Current | - | - | - | - | - | 5 | 5 | 3 | 3 | 3 | 5 | 4 | |||||
Other Accrued Liabilities Current | 4 | - | - | 6 | 7 | - | - | 3 | - | - | - | - | |||||
Operating Lease Liability Current | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | |||||
Deferred Revenue Current | 2 | 0 | 1 | 2 | 1 | 1 | 4 | 1 | 0 | 0 | 6 | 3 | |||||
Liabilities Current | 9 | 8 | 12 | 16 | 16 | 12 | 15 | 11 | 9 | 8 | 19 | 16 | |||||
Operating Lease Liability Noncurrent | 9 | 10 | 10 | 10 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |||||
Deferred Revenue Noncurrent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Other Liabilities | - | - | - | 0 | - | - | 2 | 0 | 0 | 0 | 0 | 0 | |||||
Other Liabilities Noncurrent | 0 | 0 | 0 | - | 0 | 2 | - | - | - | - | - | - | |||||
Liabilities | 18 | 18 | 22 | 26 | 21 | 19 | 23 | 16 | 15 | 14 | 25 | 23 | |||||
Commitments And Contingen… | |||||||||||||||||
Stockholders Equity | |||||||||||||||||
Commitments And Contingen… | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital | 170 | 159 | 147 | 146 | 144 | 143 | 141 | 131 | 129 | 129 | 128 | 128 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |||||
Retained Earnings Accumulated Deficit | -32 | -28 | -25 | -23 | -20 | -20 | -18 | -19 | -43 | -42 | -48 | -52 | |||||
Stockholders Equity | 139 | 131 | 122 | 123 | 124 | 123 | 122 | 112 | 86 | 87 | 80 | 76 | |||||
Liabilities And Stockholders Equity | 157 | 149 | 144 | 149 | 146 | 142 | 146 | 128 | 102 | 101 | 105 | 98 | |||||
Preferred Stock No Par Value | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | |||||
Preferred Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | - | - | - | 0.01 | |||||
Preferred Stock Shares Authorized | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | |||||
Common Stock Shares Issued | 31 | 31 | 30 | 30 | 30 | 30 | 30 | 29 | 29 | 29 | 29 | 29 | |||||
Shares Outstanding | 31 | 31 | 30 | 30 | 30 | 30 | 30 | 29 | 29 | 29 | 29 | 29 | |||||
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Interactive Financial Visualizations
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.54% | -11.14% | -16.98% | 0.15% | 35.14% | 68.20% | 47.36% | 46.18% | 45.36% | - | - | - |
| 2025 | -24.66% | -25.78% | 3.06% | -32.58% | -44.65% | -54.60% | 7.13% | 17.34% | 54.00% | -13.44% | 43.23% | 18.41% |
| 2024 | -38.84% | -39.89% | -33.77% | -13.80% | 1.09% | -29.02% | 0.95% | -0.17% | -3.12% | -21.81% | -34.03% | -15.97% |
| 2023 | - | - | - | - | - | - | -8.99% | 38.75% | 38.38% | -4.39% | -29.18% | -43.48% |
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Performance and Valuation Metrics
Metrics | 2026-02-28 | 2025-11-30 | 2025-08-31 | 2025-05-31 | 2025-02-28 | 2024-11-30 | 2024-08-31 | 2024-05-31 | 2024-02-29 | 2023-11-30 | 2023-08-31 | 2023-05-31 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 10.97 | 10.62 | 7.06 | 5.68 | 5.71 | 7.55 | 6.03 | 9.31 | 10.06 | 11.53 | 5.00 | 5.46 | |||||
| Quick Ratio | 5.57 | 4.95 | 3.00 | 2.48 | 2.58 | 3.38 | 3.01 | 5.61 | 5.78 | 6.92 | 3.33 | 3.96 | |||||
| Working Capital | 87.16M | 79.88M | 72.14M | 73.14M | 75.64M | 76.80M | 77.50M | 87.34M | 83.17M | 83.81M | 76.96M | 72.72M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 0.13 | 0.14 | 0.18 | 0.21 | 0.17 | 0.16 | 0.19 | 0.15 | 0.17 | 0.16 | 0.32 | 0.30 | |||||
| Debt Ratio | 0.12 | 0.12 | 0.15 | 0.17 | 0.15 | 0.13 | 0.16 | 0.13 | 0.15 | 0.14 | 0.24 | 0.23 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.30 | 0.35 | 0.38 | 0.41 | 0.48 | 0.41 | 0.46 | 0.58 | 0.76 | 0.97 | 0.90 | 0.81 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | -0.37 | -0.29 | -0.22 | -0.13 | 0.77 | 0.74 | 0.98 | 1.12 | 0.53 | 0.71 | 0.63 | 0.50 | |||||
| Free Cash Flow Per Share TTM | -397.26 | -387.45 | -542.99 | -0.41 | -204.96 | -199.60 | -14.67 | 0.03 | 0.16 | 0.22 | 0.24 | 311.28 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 30.72% | 34.32% | 37.28% | 41.74% | 46.96% | 48.26% | 51.21% | 49.77% | 50.07% | 50.65% | 51.05% | 50.41% | |||||
| Operating Profit Margin TTM | -35.68% | -25.25% | -17.94% | -9.90% | 0.11% | -1.72% | 10.58% | 15.41% | 18.54% | 23.32% | 22.74% | 20.59% | |||||
| Net Profit Margin TTM | -25.23% | -17.16% | -12.06% | -6.82% | 38.18% | 44.14% | 50.35% | 50.71% | 21.68% | 25.76% | 24.88% | 22.41% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | -24.39% | 3.45% | -4.64% | -12.30% | -15.76% | -38.79% | -22.74% | 0.65% | 12.82% | 33.53% | 34.12% | 27.80% | |||||
| Net Income Growth (1Y) | -149.95% | -140.21% | -122.83% | -111.79% | 48.37% | 4.85% | 56.32% | 127.77% | 8.17% | 70.08% | 99.53% | 54.04% | |||||
| EPS Growth (1Y) | -148.39% | -139.52% | -122.21% | -111.44% | 144,140.48% | 101,806.16% | 154,376.91% | -99.78% | -99.90% | 63.62% | -99.81% | 44.22% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | -0.10 | -0.08 | -0.11 | -72.90 | 0.01 | 0.02 | 0.02 | 10.07 | 30.53 | 31.51 | 78.70 | 0.06 | |||||
| P/B | 0.01 | 0.01 | 0.01 | 2.32 | 0.00 | 0.00 | 0.00 | 2.99 | 5.44 | 7.59 | 18.31 | 0.01 | |||||
| P/S TTM | 0.03 | 0.01 | 0.01 | 4.97 | 0.00 | 0.01 | 0.01 | 5.10 | 6.62 | 8.12 | 19.59 | 0.01 | |||||
| Market Cap | 1.15M | 693.17K | 746.58K | 285.03M | 286.63K | 352.65K | 442.72K | 333.73M | 470.30M | 661.84M | 1.47B | 917.46K | |||||
| Enterprise Value | -35.91M | -30.29M | -23.91M | 258.55M | -31.07M | -34.82M | -40.34M | 284.42M | 422.57M | 611.18M | 1.42B | -29.29M | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | -12.19M | -11.69M | -16.25M | -12.39M | -6.09M | -5.92M | -427.00K | 1.01M | 4.51M | 6.40M | 6.89M | 8.65M | |||||
| Net Debt | -37.06M | -30.99M | -24.66M | -26.48M | -31.36M | -35.17M | -40.78M | -49.31M | -47.73M | -50.66M | -51.11M | -30.20M | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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