Aehr Test Systems

Aehr Test Systems

AEHRยทNASDAQ

$114.59

-0.49%
TechnologySemiconductors

Aehr Test Systems provides test systems for burning-in and testing logic, optical, and memory integrated circuits worldwide. It offers products, such as the ABTS and FOX-P families of test and burn-in systems and FOX WaferPak Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier, and FOX DiePak Loader. The ABTS system is used in production and qualification testing of packaged parts for lower power and higher power logic devices, as well as various common types of memory devices. The FOX-XP and FOX-NP systems are wafer contact and singulated die/module test and burn-in systems used for burn-in and functional test of complex devices, such as memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices. The FOX-CP system is a single-wafer compact test and reliability verification solution for logic, memory, and photonic devices. The WaferPak Contactor contains a unique full wafer probe card capable of testing wafers up to 300mm that enables IC manufacturers to perform test and burn-in of full wafers on Aehr Test FOX systems. The DiePak Carrier is a reusable, temporary package that enables IC manufacturers to perform final test and burn-in of bare die and modules. Aehr Test Systems was incorporated in 1977 and is headquartered in Fremont, California.

At a Glance

Live Snapshot
Market Cap$3.60B
EPS-0.1300
P/E Ratio-881.46
Earnings Date07/14/2026
3Y-591.0%
5Y+266.0%
10Y+18.0%
3Y+3762.0%
5Y+9757.0%
10Y+1648.0%
3Y-98.0%
5Y-71.0%
10Y-75.0%
AEHR

Aehr Test Systems Cash Conversion Engine

AEHR ยท NASDAQ
Net Income-3.91M
Depreciation & Amortization3.39M
Stock-Based Compensation5.16M
Change in Working Capital-12.20M
Others584.00K
Capital Expenditures-4.99M
Free Cash Flow-12.39M

Cash Flow Quality Analysis

FCF Conversion Rate

316.9%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

-67.5%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

-1330.6%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$12.20M

Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extensionโ€”monitor closely.

Cash Flow Quality Insight

Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.

Aehr Test Systems Cash Flow Statement

AEHR โ€ข NASDAQ

Aehr Test Systems Cash Flow StatementMay 2025May 2024May 2023May 2022May 2021May 2020May 2019May 2018May 2017May 2016May 2015May 2014May 2013May 2012May 2011May 2010May 2009May 2008May 2007May 2006
OPERATING ACTIVITIES
-3.9M
33.2M
14.6M
9.5M
-2M
-2.8M
-5.2M
528K
-5.7M
-6.8M
-6.6M
422K
-3.4M
-3.4M
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-481K
-30M
10.6M
2.4M
810K
3.4M
1.4M
450K
307K
310K
384K
431K
417K
271K
203K
135K
141K
322K
491K
573K
690K
644K
474K
323K
340K
-421K
-20.8M
0.0
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4.9M
-4.9M
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5.2M
2.5M
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3M
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584K
-130K
2.3M
-1.7M
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955K
902K
938K
1.2M
1.2M
998K
803K
601K
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963K
2.1M
15.2M
990K
758K
74K
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-12.2M
-14.4M
-7.3M
-9.6M
316K
-561K
-1.7M
-3.2M
-313K
-881K
3.3M
-2M
2.2M
-1.7M
-2.3M
945K
-1.9M
-3.5M
-4.6M
277K
-7.4M
1.8M
10M
1.5M
-2.7M
-2M
-5.6M
-1.4M
-4.5M
-6.3M
-2.3M
-607K
-310K
-4.9M
-4.1M
3.2M
-11M
3.6M
-1.1M
1.5M
INVESTING ACTIVITIES
-5M
-749K
-1.4M
-416K
-227K
-163K
-173K
-572K
-477K
-919K
-118K
-339K
-127K
-45K
-15K
-69K
-1.1M
-1.1M
-1.1M
-149K
-11.1M
(0.0)
(0.0)
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(0.0)
(0.0)
(0.0)
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(0.0)
(50K)
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(0.0)
-33.3M
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-500K
-14.2M
-11.9M
0.0
18M
16M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.4M
0.0
0.0
0.0
3.5M
12.8M
14.5M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-5K
-4K
-16.1M
(17.3M)
-18.7M
-416K
-227K
-163K
-173K
-572K
-477K
-919K
-118K
-289K
-127K
(1.3M)
-15K
-69K
-1.1M
(1.9M)
-2.5M
(2.5M)
FINANCING ACTIVITIES
625K
139K
7.3M
27.2M
560K
493K
559K
925K
21.8M
512K
3.4M
715K
1.4M
168K
343K
176K
503K
2.3M
766K
514K
0.0
0.0
0.0
-1.4M
1.4M
1.7M
-6.1M
0.0
0.0
2M
3M
-324K
-307K
1.4M
0.0
0.0
0.0
0.0
0.0
0.0
-784K
-1.6M
-2.1M
-429K
-20K
-10K
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
625K
139K
7.3M
25.8M
2M
2.2M
-5.6M
925K
21.8M
2.5M
6.4M
391K
1.1M
1.6M
343K
176K
503K
2.3M
766K
514K
CASH FLOW SUMMARY
-1.1M
-41K
-107K
49K
117K
20K
-59K
43K
1K
106K
-320K
-10K
-377K
22K
68K
52K
358K
1.2M
-4K
4.9M
-23.9M
19.1M
-1.4M
26.9M
-851K
5K
-11.4M
-955K
16.9M
-4.6M
3.7M
-515K
251K
-1.9M
-3.7M
3.4M
-11.3M
9.1M
-2.8M
9.4M
49.2M
30.1M
31.5M
4.6M
5.4M
5.4M
16.8M
17.8M
939K
5.5M
1.8M
2.3M
2.1M
4M
7.8M
4.4M
15.6M
6.6M
9.4M
0.0
25.2M
49.2M
30.1M
31.5M
4.6M
5.4M
5.4M
16.8M
17.8M
939K
5.5M
1.8M
2.3M
2.1M
4M
7.8M
4.4M
15.6M
6.6M
9.4M
-12.4M
1M
8.6M
1.1M
-2.9M
-2.2M
-5.8M
-1.9M
-5M
-7.2M
-2.4M
-946K
-437K
-4.9M
-4.2M
3.2M
-12.1M
2.6M
-2.2M
1.4M

SEC Filings

AEHR - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

April 20, 2026
April 17, 2026
2026
8-K

8-K 2026

N/A

April 08, 2026
April 08, 2026
2026
10-Q

10-Q 2026 Q1

Q1

April 08, 2026
February 27, 2026
2026
8-K

8-K 2026

N/A

April 07, 2026
April 07, 2026
2026
10-Q

10-Q 2025 Q4

Q4

January 12, 2026
November 28, 2025
2025
8-K

8-K 2026

N/A

January 08, 2026
January 08, 2026
2026
8-K

8-K 2025

N/A

November 07, 2025
October 21, 2025
2025
8-K

8-K 2025

N/A

October 21, 2025
October 20, 2025
2025
10-Q

10-Q 2025 Q3

Q3

October 08, 2025
August 29, 2025
2025
8-K

8-K 2025

N/A

October 06, 2025
October 06, 2025
2025
Showing 1 to 10 of 376 filings