Fact based stock research
Aehr Test Systems (NasdaqCM:AEHR)

US00760J1088

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Aehr Test Systems stock research in summary

aehr.com

ANALYSIS: With an Obermatt Combined Rank of 15 (worse than 85% compared with investment alternatives), Aehr Test Systems (Semiconductor Equipment, USA) shares have lower financial characteristics compared with similar stocks. Shares of Aehr Test Systems are low in value (priced high) with a consolidated Value Rank of 7 (worse than 93% of alternatives). But they show above-average growth (Growth Rank of 91) and are safely financed (Safety Rank of 69, which means below-average debt burdens). ...read more

RECOMMENDATION: A Combined Rank of 15, is a sell recommendation based on Aehr Test Systems's financial characteristics. Investors looking for growth and low financial risk may find this stock attractive. While the company Aehr Test Systems exhibits low value (Obermatt Value Rank of 7), which means that the stock price is rather high, it also demonstrates above-average growth (Obermatt Growth Rank of 91). This is a typical case, as high-growth companies are often expensive. Good financing practices (Obermatt Safety Rank of 69) are a double-edged sword: if the company continues growing, low debt limits shareholder returns. But if the company increases its debt, it will also increase risk. In other words, this is an investment on the safer side, despite the above-average price (low value). Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	7
Growth Rank	91
Safety Rank	69
Combined Rank	15

Country	USA
Industry	Semiconductor Equipment
Index	NASDAQ
Size class	X-Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Research History: Aehr Test Systems

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	13	7	12	7
GROWTH
GROWTH	100	100	68	91
SAFETY
SAFETY	97	97	69	69
SENTIMENT
SENTIMENT	87	89	30	^new
360° VIEW
360° VIEW	75	85	5	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 30-May-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Aehr Test Systems is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	13	7	12	7
GROWTH
GROWTH	100	100	68	91
SAFETY
SAFETY	97	97	69	69
COMBINED
COMBINED	86	86	15	15

Last update of combined financial performance: 4-Jul-2024. Stock analysis on combined financial performance: The higher the rank of Aehr Test Systems the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 7 (worse than 93% compared with alternatives), Aehr Test Systems shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with all four indicators below average for Aehr Test Systems. Price-to-Sales is 14 which means that the stock price compared with what market professionals expect for future profits is higher than 86% of comparable companies, indicating a low value concerning Aehr Test Systems's sales levels. Price-to-Book Capital (also referred to as market-to-book ratio) also has a low Price-to-Book Rank of 33, which means that both reliable company size indicators, sales, and invested capital cannot explain the high stock price of Aehr Test Systems. In addition, the two profit-related value indicators, Price-to-Profit (also referred to as price-earnings, P/E) with a low rank of 5 and Dividend Yield, which is lower than 99% of comparable companies, also make the stock more expensive compared with investment alternatives. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 7, is a sell recommendation based on Aehr Test Systems's stock price compared with the company's operational size and dividend yields. How can market participants pay such a high price for Aehr Test Systems? One reason may be that the company is simply too popular. If enough people want a particular stock, its price can exceed reasonable levels. This is often the case for companies offering new and exciting products and everybody wants a piece of the action. Should you pay a lot for a hot stock such as Aehr Test Systems? It's risky, and even if the stock price continues to grow because of popular demand, it may return to more typical lower levels later. And that return can be sudden and quick, making it impossible for retail investors to exit on time. Sometimes, high prices are deserved. This is the case when it is justified to believe that the company will dominate a market with high profit margins. It has happened in the past for many technology companies and indeed for commercially successful pharmaceutical discoveries. Sometimes they last, sometimes, they get eaten alive. Aehr Test Systems may be such a type of stock. That would mean, retail investors should be careful, only considering investing a small part of their wealth in this exciting category and always being ready to lose more than half, if not all of the investment. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	40	18	41	14
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	61	56	7	5
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	8	8	53	33
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	13	7	12	7

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Aehr Test Systems; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 91 (better than 91% compared with alternatives) for 2024, Aehr Test Systems shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Aehr Test Systems. Sales Growth has a rank of 100 which means that currently, professionals expect the company to grow more than 100% of its competitors. Capital Growth is also above 12% of competitors with a rank of 96, and Stock Returns with the rank of 81 is also an outperformance. Only Profit Growth is low with a rank of 12 which means that currently, professionals expect the company to grow its profits less than 88% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 91, is a buy recommendation for growth and momentum investors. All three operating growth indicators, namely revenue, profit, and capital growth, are showing improvements. This is a good indication of a company with a positive future. That might, at the same time, be the simple reason why profit growth is low. A growing company needs money and thus can't yet show high profit growth. Look out for signs in corporate communication about extra growth efforts costing time and money. If that is the case, Aehr Test Systems is a good growth stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	89	100	96	100
PROFIT GROWTH
PROFIT GROWTH	98	96	6	12
CAPITAL GROWTH
CAPITAL GROWTH	98	98	100	96
STOCK RETURNS
STOCK RETURNS	100	67	22	81
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	100	100	68	91

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Aehr Test Systems.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 69 (better than 69% compared with alternatives), the company Aehr Test Systems has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Aehr Test Systems is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Aehr Test Systems and the other two below average. Leverage is at a rank of 100 meaning the company has a below-average debt-to-equity ratio. It has less debt than 100% of its competitors.Refinancing is at a rank of 46, which means that the portion of the debt about to be refinanced is above-average. It has more debt in the refinancing stage than 54% of its competitors. Liquidity is at a rank of 1, meaning that the company generates less profit to service its debt than 99% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 69 (better than 69% compared with alternatives), Aehr Test Systems has a financing structure that is safer than that of its competitors. This is an indication that the company is on the riskier side when it comes to debt service. There is only below-market average liquidity, and a short-term refinancing issue might be around the corner. But in the long-term, the debt levels of Aehr Test Systems are on the safer side. Investors may have a short-term debt challenge and liquidity issues with Aehr Test Systems and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	66	100	100	100
REFINANCING
REFINANCING	53	34	58	46
LIQUIDITY
LIQUIDITY	34	34	1	1
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	97	97	69	69

Last update of Safety Rank: 4-Jul-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Aehr Test Systems and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	96	19	^new
OPINIONS CHANGE
OPINIONS CHANGE	100	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	17	59	46	^new
MARKET PULSE
MARKET PULSE	74	70	49	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	87	89	30	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Aehr Test Systems.
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