15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2026 | $50M | -$7M | 35.3% | -28.3% | -3.2% | -2.9% | -$5M | — | $116M |
| 2025 | $59M | -$4M | 40.6% | -9.6% | -3.2% | -2.6% | -$12M | — | $25M |
| 2024 | $66M | $33M | 49.1% | 15.2% | 29.7% | 25.9% | $1M | — | $49M |
| 2023 | $65M | $15M | 50.4% | 20.6% | 19.3% | 14.8% | $9M | — | $30M |
| 2022 | $51M | $9M | 46.6% | 15.3% | 18.5% | 15.2% | $1M | — | $31M |
| 2021 | $17M | -$2M | 36.3% | -25.2% | -17.7% | -9.4% | -$3M | $2M | $5M |
| 2020 | $22M | -$3M | 37.6% | -12.4% | -19.9% | -13.6% | -$2M | $2M | $5M |
| 2019 | $21M | -$5M | 36.1% | -23.7% | -33.8% | -24.6% | -$6M | $0 | $5M |
| 2018 | $30M | $528000 | 41.9% | 3.1% | 2.7% | 1.7% | -$2M | $0 | $17M |
| 2017 | $19M | -$6M | 35.9% | -26.1% | -33.6% | -18.3% | -$5M | $6M | $18M |
| 2016 | — | -$7M | — | — | 965.1% | -67.5% | -$7M | $6M | $939000 |
| 2015 | — | -$7M | — | — | -145.5% | -44.7% | -$2M | $4M | $6M |
| 2014 | — | $422000 | — | — | 6.0% | 3.5% | -$946000 | $0 | $2M |
| 2013 | — | -$3M | — | — | -68.2% | -31.2% | -$437000 | — | $2M |
| 2012 | — | -$3M | — | — | -52.3% | -29.2% | -$5M | — | $2M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| May '26 | $19M | $1M | 42.6% | -6.4% | 0.6% | 0.6% | $2M | — | $116M |
| Feb '26 | $10M | -$3M | 32.7% | -41.0% | -2.3% | -2.0% | -$4M | — | $37M |
| Nov '25 | $10M | -$3M | 25.7% | -47.0% | -2.5% | -2.2% | -$2M | — | $31M |
| Aug '25 | $11M | -$2M | 33.9% | -37.1% | -1.7% | -1.4% | -$2M | — | $23M |
| May '25 | $14M | -$3M | 30.3% | -22.7% | -2.4% | -2.0% | -$5M | — | $25M |
| Feb '25 | $18M | -$643000 | 39.2% | -6.1% | -0.5% | -0.4% | -$3M | — | $29M |
| Nov '24 | $13M | -$1M | 40.1% | -11.2% | -0.8% | -0.7% | -$6M | — | $32M |
| Aug '24 | — | $660000 | — | — | — | — | — | — | — |
| Aug '24 | $13M | $660000 | 54.0% | 1.2% | 0.5% | 0.5% | $2M | — | $38M |
| May '24 | $17M | $24M | 50.9% | 15.3% | 21.4% | 18.7% | $1M | — | $49M |
| Feb '24 | $8M | -$1M | 41.7% | -27.1% | -1.7% | -1.4% | -$3M | — | $48M |
| Feb '24 | — | -$1M | — | — | -1.7% | — | — | — | — |
| Nov '23 | $21M | $6M | 51.1% | 25.5% | 7.0% | 6.0% | -$701000 | — | $51M |
| Aug '23 | $21M | $5M | 48.4% | 20.0% | 5.8% | 4.4% | $4M | — | $51M |
| Aug '23 | $21M | — | 0.0% | 0.0% | — | — | — | — | — |
| May '23 | $22M | $6M | 51.5% | 25.3% | 8.1% | 6.2% | $5M | — | $30M |
| Feb '23 | $17M | $4M | 51.6% | 22.0% | 6.0% | 4.9% | -$1M | — | $17M |
| Nov '22 | $15M | $4M | 53.4% | 23.5% | 6.6% | 5.5% | -$210000 | — | $19M |
| Aug '22 | $11M | $589000 | 42.0% | 4.3% | 1.1% | 1.0% | $5M | — | $36M |
| May '22 | $20M | $6M | 51.6% | 28.7% | 11.4% | 9.3% | -$965000 | — | $31M |
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 24.7% per year. These are computed facts, not advice.
As of FY2026, Aehr Test Systems reported — of total debt against $116M of cash.
In FY2026, gross margin was 35.3%, operating margin -28.3%, and net margin -14.3%.
As of Sep '26, Aehr Test Systems traded at a price-to-earnings ratio of about 8.4× (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.