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Earnings transcript
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AEHR
Aehr Test Systems
$94.31
-1.27
(-1.33%)
| Exchange: | NASDAQ |
| Market Cap: | 2.966B |
| Shares Outstanding: | 4.297M |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Semiconductors | |||||
| CEO: | Gayn Erickson | |||||
| Full Time Employees: | 115 | |||||
| Address: |
| |||||
| Website: | https://www.aehr.com |
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. The ABTS system is specifically designed for both production and qualification assessments of packaged parts, covering a range of lower and higher power logic devices, as well as various memory types. For more complex integrated circuits like memories, digital signal processors, microprocessors, microcontrollers, systems-on-a-chip, and integrated optical devices, the FOX-XP and FOX-NP systems facilitate burn-in and functional testing at both the wafer and individual die/module levels. Aehr’s FOX-CP system offers a compact, single-wafer solution for verifying the reliability of logic, memory, and photonic devices. A distinguishing offering, the WaferPak Contactor, features an exclusive full-wafer probe card, accommodating wafers up to 300mm, which enables semiconductor manufacturers to conduct comprehensive wafer-level testing and burn-in on Aehr’s FOX platforms. Furthermore, the DiePak Carrier provides a reusable, temporary packaging medium, empowering IC manufacturers to complete final testing and burn-in processes for bare die and modules.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 64,961 | 66,218 | 58,968 |
| Gross Profit | 32,746 | 32,543 | 23,933 |
| EBITDA | 15,067 | 13,821 | -903 |
| Operating Income | 13,375 | 10,078 | -4,313 |
| Net Income | 14,557 | 33,156 | -3,910 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 98,143 | 127,912 | 148,508 |
| Total Liabilities | 22,543 | 16,319 | 25,637 |
| Total Stockholders Equity | 75,600 | 111,593 | 122,871 |
| Total Debt | 6,300 | 6,197 | 10,830 |
| Cash and Cash Equivalents | 30,054 | 49,159 | 24,529 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 10,011 | 1,756 | -7,400 |
| Capital Expenditure | -1,362 | -749 | -4,992 |
| Free Cash Flow | 8,649 | 1,007 | -12,392 |
| Net Income | 14,557 | 33,156 | -3,910 |
| Net Change in Cash | -1,360 | 19,105 | -22,829 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 188,802.677 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 200,963.166 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 196,103 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 19,173.584 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 20,408.525 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 19,914.958 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 32,090.357 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 34,808.851 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 33,722.341 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 48,729.817 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 51,868.429 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 50,614.024 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 1.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 1.180 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 1.080 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Solid Revenue Performance in Niche Market: Aehr Test Systems reported $7.6 million in revenue for Q3 FY2024, reflecting its strong positioning in specialized semiconductor testing for emerging technologies like silicon carbide and gallium nitride, as highlighted in the earnings call transcript.
- Innovative Product Portfolio: The company’s focus on advanced testing solutions for high-growth sectors such as electric vehicles and silicon photonics aligns with industry trends, providing a competitive edge in a market projected to reach $1 trillion by 2030, per earnings call insights.
- Positive Earnings Call Sentiment: Management expressed confidence in long-term growth during the Q3 FY2024 earnings call, emphasizing strategic investments in R&D and capacity to meet rising demand, which supports investor confidence.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates AEHR intrinsic value between $0.47 – $0.50 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about AEHR valuation
Is Aehr Test Systems (AEHR) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Aehr Test Systems (AEHR) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is AEHR a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether AEHR trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is AEHR’s P/E ratio?
You can see AEHR’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for AEHR?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is AEHR a good long-term investment?
Whether AEHR fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
AEHR
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Daily snapshot
-1.33
Trading Metrics:
| Open: | 99.73 | Previous Close: | 95.58 | |
| Day Low: | 84.62 | Day High: | 106.54 | |
| Year Low: | 10.89 | Year High: | 121.8 | |
| Price Avg 50: | 84.5 | Price Avg 200: | 41.93 | |
| Volume: | 2.349M | Average Volume: | 2.94M |
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Login — it's freeAEHR full analysis
YouTube Video Transcript: Comprehensive Stock Analysis of Aehr Test Systems (AEHR) --- Hey everyone, welcome back to the channel! I’m thrilled to dive into another in-depth stock analysis with you today. If you’re new here, make sure to hit that subscribe button and turn on notifications so you don’t miss any of our deep dives into the stock market. Today, we’re taking a close look at Aehr Test Systems, ticker symbol AEHR, a lesser-known but intriguing player in the semiconductor…
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