15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $59M | -$4M | 40.6% | -9.6% | -$12M | — | $25M |
| 2024 | $66M | $33M | 49.1% | 15.2% | $1M | — | $49M |
| 2023 | $65M | $15M | 50.4% | 20.6% | $9M | — | $30M |
| 2022 | $51M | $9M | 46.6% | 15.3% | $1M | — | $31M |
| 2021 | $17M | -$2M | 36.3% | -25.2% | -$3M | $2M | $5M |
| 2020 | $22M | -$3M | 37.6% | -12.4% | -$2M | $2M | $5M |
| 2019 | $21M | -$5M | 36.1% | -23.7% | -$6M | $0 | $5M |
| 2018 | $30M | $528000 | 41.9% | 3.1% | -$2M | $0 | $17M |
| 2017 | $19M | -$6M | 35.9% | -26.1% | -$5M | $6M | $18M |
| 2016 | — | -$7M | — | — | -$7M | $6M | $939000 |
| 2015 | — | -$7M | — | — | -$2M | $4M | $6M |
| 2014 | — | $422000 | — | — | -$946000 | $0 | $2M |
| 2013 | — | -$3M | — | — | -$437000 | — | $2M |
| 2012 | — | -$3M | — | — | -$5M | — | $2M |
| 2011 | — | -$3M | — | — | -$4M | — | $4M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Feb '26 | $10M | -$3M | 32.7% | -41.0% | -$4M | — | $37M |
| Nov '25 | $10M | -$3M | 25.7% | -47.0% | -$2M | — | $31M |
| Aug '25 | $11M | -$2M | 33.9% | -37.1% | -$2M | — | $23M |
| May '25 | $14M | -$3M | 30.3% | -22.7% | -$5M | — | $25M |
| Feb '25 | $18M | -$643000 | 39.2% | -6.1% | -$3M | — | $29M |
| Nov '24 | $13M | -$1M | 40.1% | -11.2% | -$6M | — | $32M |
| Aug '24 | — | $660000 | — | — | — | — | — |
| Aug '24 | $13M | $660000 | 54.0% | 1.2% | $2M | — | $38M |
| May '24 | $17M | $24M | 50.9% | 15.3% | $1M | — | $49M |
| Feb '24 | $8M | -$1M | 41.7% | -27.1% | -$3M | — | $48M |
| Feb '24 | — | -$1M | — | — | — | — | — |
| Nov '23 | $21M | $6M | 51.1% | 25.5% | -$701000 | — | $51M |
| Aug '23 | $21M | $5M | 48.4% | 20.0% | $4M | — | $51M |
| Aug '23 | $21M | — | 0.0% | 0.0% | — | — | — |
| May '23 | $22M | $6M | 51.5% | 25.3% | $5M | — | $30M |
| Feb '23 | $17M | $4M | 51.6% | 22.0% | -$1M | — | $17M |
| Nov '22 | $15M | $4M | 53.4% | 23.5% | -$210000 | — | $19M |
| Aug '22 | $11M | $589000 | 42.0% | 4.3% | $5M | — | $36M |
| May '22 | $20M | $6M | 51.6% | 28.7% | -$965000 | — | $31M |
| Feb '22 | $15M | $2M | 41.9% | 14.8% | -$3M | — | $32M |
How the market has priced AEHR against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Aehr Test Systems's revenue has grown 21.5% per year. These are computed facts, not advice.
As of FY2025, Aehr Test Systems reported — of total debt against $25M of cash.
In FY2025, gross margin was 40.6%, operating margin -9.6%, and net margin -6.6%.
As of Jun '26, Aehr Test Systems traded at a price-to-earnings ratio of about 8.1× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.