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Aehr Test Systems financials & valuation

Reported statements, fiscal periods and valuation definitions in one place.

Section freshness

Research as of May 29, 2026 · Prices as of Sep 29, 9:30 AM EDT · Fundamentals checked Sep 29, 8:36 AM EDT · Statements May 29, 2026

Financial statements

Revenue

50M

FY2026 · ended May 29, 2026

Operating Income

-14.15M

FY2026 · ended May 29, 2026

Net Income

-7.13M

FY2026 · ended May 29, 2026

Amounts in USD. B = billions · M = millions. Scroll horizontally for earlier periods.

Sources, units & calculation notes

TECHi unified data / SEC Companyfacts. Per-share figures are in USD/share; margins in %, debt/equity in ×. TTM sums four consecutive quarters; balance sheets remain period-end balances. Growth requires comparable positive values. EPS uses the provider’s reported share basis; missing direct quarters are unavailable, and mixed filing split bases are not summed. EPS growth and trend lines require matching documented accounting and split bases. Tab through controls; use arrow keys inside the table.

AEHR annual income
FY2026Ended May 29, 2026Filed Jul 27, 2026Source filing	FY2023Ended May 31, 2023Filed Jul 28, 2025Source filing	1Y change	3Y annual growth
50M	64.96M	—	-8.4%
-7.13M	14.56M	—	—
17.65M	32.75M	—	-18.6%
-14.15M	13.38M	—	—

Earnings quality · May 29, 2026

Net income: -7.13M
Free cash flow: -5.38M
Stock-based compensation: 6.76M
FCF / net income: —
Accrual gap / revenue: -7.6%
Cash conversion: Not meaningful with non-positive or missing earnings

Accrual gap = (net income − operating cash flow) / revenue. TECHi descriptive thresholds: strong ≥100%, moderate 75–100%, weak <75%. CapEx timing, working capital and industry structure affect the ratio; it is not an accounting audit.

Download quarterly financial dataset

Changes between reports

Q4 May 29, 2026 versus Q3 Feb 27, 2026

Latest quarter compared with the preceding report. Margin changes are in percentage points (pp).

Revenue: 18.84M↑ +82.6%; Previous: 10.31M · USD
Gross margin: 42.57%↑ +9.9 pp; Previous: 32.66%
Operating margin: -6.40%↑ +34.6 pp; Previous: -41.01%
Net margin: 7.39%↑ +38.4 pp; Previous: -31.06%
Cash: 116.36M↑ +215.2%; Previous: 36.91M · USD
Inventory: 41.35M↑ +0.5%; Previous: 41.16M · USD
Capex: 134K↑ +81.1%; Previous: 74K · USD
Stock-based compensation: 1.87M↑ +34.8%; Previous: 1.38M · USD

Reported-period comparison. Guidance and risk-factor changes require reading the filings.

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Valuation & ratios

Multiples with negative or missing earnings are not meaningful. Annual free cash flow yield uses the latest fiscal year; provider forward multiples may use a different earnings horizon.

Valuation history and definitions

5Y median / percentile: Five-year observations unavailable
Forward EPS vs trailing EPS: —
Forward P/E / expected EPS growth: —

EPS growth proxy compares the available annual estimate (FY2027 period end 2027-05-31) with trailing EPS; it is not a multi-year consensus growth rate. Historical valuation uses dated observations, using price divided by the annual EPS estimate recorded that day. Legacy provider P/E observations with an unknown earnings basis are excluded. Available P/E observations: 2 since 2026-09-28.

Why provider ratios differ · reconciliation

Forward P/E can use next fiscal year, current fiscal year or next-twelve-month earnings; trailing P/E can use GAAP or adjusted earnings and different closing prices. TECHi compares figures with the same earnings basis and reporting period. Different definitions are not averaged together.

Metric	Value / formula	Source and date
Reported forward P/E	—	Not supplied · period unknown · date unknown
Trailing P/E	—	Not supplied · period unknown · date unknown
Trailing EPS	-0.23	Yahoo Finance · period unknown · 2026-09-29T12:36:11.234Z
Price ÷ annual EPS estimate	135.08×	TECHi calculation · FY2027 period end 2027-05-31

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