Aehr Test Systems (AEHR) is a publicly traded company in the Technology — Semiconductors industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Aehr Test Systems, founded in 1977 and based in Fremont, California, specializes in the global provision of advanced burn-in and test systems for integrated circuits, encompassing logic, optical, and memory devices. Its extensive product lineup includes the ABTS and FOX-P families of test and burn-in solutions, complemented by specialized components such as the FOX WaferPak Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier, and FOX DiePak Loader.
Is Aehr Test Systems stock overvalued or undervalued in 2026?
As of November 3, 2026, Aehr Test Systems (AEHR) trades at $65.11; its P/E is not meaningful because its earnings over the last twelve months are very small relative to its price (more than 500 times), according to Kaplio. Note: earnings per share over the last twelve months ($0.05) are far from the consensus for 2027 ($0.76); that is why this range uses expected earnings. No valuation verdict: its earnings are in a dip and too few analysts cover it to know what normal earnings are.
Kaplio overview: Aehr Test Systems
Market cap $2B · 52 weeks $19 – $146 (55 % below the high) · P/E n.m. · 2027 est. P/E 85.9× · Dividend none · Next earnings January 8, 2027 · expected EPS $0.28 · Closing price, Nov 3 · accounts published Nov 2.
- Valuation: P/E n.m. (no verdict).
- Business: ROIC 2 % (weak).
- Balance sheet: Altman Z 63.2 (solid).
- Earnings: 6 of 8 (uneven).
What would it be worth at its usual multiples?
No valuation verdict: its earnings are in a dip and too few analysts cover it to know what normal earnings are.
Note: earnings per share over the last twelve months ($0.05) are far from the consensus for 2027 ($0.76); that is why this range uses expected earnings.
What matters in technology: 0 of 6 pass
- 3y revenue growth −11.3 %, fails.
- Gross margin 35.3 %, fails.
- FCF / Revenue −10.8 %, fails.
- ROIC 1.9 %, fails.
- SBC / Revenue 13.5 %, fails.
- EV/EBITDA vs own 5y 863×, fails.
- Net debt / EBITDA n. s., info.
Against its peers (reference peers) — Aehr Test Systems: P/E —; EV/EBITDA —; ROIC 1.9 %; $2.1B. Cohu, Inc. (P/E —; EV/EBITDA 56.1×; ROIC -1.0 %; $2.4B), FormFactor, Inc. (P/E 44.4×; EV/EBITDA 32.7×; ROIC 15.1 %; $7.6B), Teradyne, Inc. (P/E 30.9×; EV/EBITDA 22.6×; ROIC 33.6 %; $42.1B).
Profitability
| Return on Equity | 1.20% |
| Return on Invested Capital | 1.88% |
| Return on Assets | 0.83% |
| Gross Margin | 40.57% |
| Operating Margin | -5.54% |
| Net Margin | 2.93% |
Financial Health
| Debt / Equity | 0.04 |
| Current Ratio | 7.15 |
| Piotroski F-Score | 2 |
| Altman Z-Score | 63.15 |
Price Performance
| 1 month | -37.63% |
| 3 months | -34.72% |
| Year-to-date | +222.49% |
| 1 year | +162.54% |
| 3 years | +165.76% |
| 5 years | +153.15% |
| 10 years | +1891.13% |
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Explore sector: Technology · Semiconductors
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