Aehr Test Systems (AEHR) Balance Sheet
AEHR balance sheet, FY2026
May 31, 2026 · U.S. dollars$246.7M assets = $27.2M liabilities + $219.5M equity
Both columns are drawn to the same scale: what AEHR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AEHR financial health
Descriptive bands, not a rating. Fiscal FY2026.
AEHR balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $30.9MFY2017 | $246.7MFY2026 | +26.0%/yr | |
| Total liabilities | $14.1MFY2017 | $27.2MFY2026 | +7.6%/yr | |
| Shareholders’ equity | $16.8MFY2017 | $219.5MFY2026 | +33.1%/yr | |
| Cash & short-term investments | $17.8MFY2017 | $116.4MFY2026 | +23.2%/yr | |
| Total debt | $6.2MFY2017 | $9.9MFY2026 | +5.4%/yr | |
| Net cash (debt) | $11.6MFY2017 | $106.5MFY2026 | +$94.9M | |
| Working capital | $21.5MFY2017 | $166.6MFY2026 | +$145.1M | |
| Book value per share | $1.03FY2017 | $7.16FY2026 | +24.0%/yr | |
| Debt / equity | 0.37FY2017 | 0.05FY2026 | −0.32 | |
| Shares outstanding | 16.3MFY2017 | 30.7MFY2026 | +7.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AEHR assets
AEHR liabilities and equity
AEHR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AEHR balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $116.4M | $25.2M | $49.2M | $47.9M | $31.5M | $4.6M | $5.4M | $5.4M | $16.8M | $17.8M |
| Cash & equivalents | $116.4M | $25.2M | $49.2M | $30.1M | $31.5M | $4.6M | $5.4M | $5.4M | $16.8M | $17.8M |
| Short-term investments | — | — | $0 | $17.9M | $0 | — | — | — | $0 | $0 |
| Receivables | $17.5M | $17.8M | $10.0M | $16.6M | $12.9M | $5.2M | $3.7M | $4.9M | $2.9M | $4.0M |
| Inventory | $41.4M | $42.0M | $37.5M | $23.9M | $15.1M | $8.8M | $8.0M | $9.1M | $9.0M | $6.6M |
| Other current assets | $9.3M | $3.8M | $1.2M | $621,000 | $613,000 | $551,000 | $512,000 | $686,000 | $703,000 | $961,000 |
| Total current assets | $184.4M | $88.8M | $97.8M | $89.0M | $60.0M | $19.2M | $17.7M | $20.0M | $29.5M | $29.4M |
| Property, plant & equipment (net) | $17.8M | $18.6M | $9.0M | $8.9M | $2.1M | $2.3M | $2.8M | $1.0M | $1.2M | $1.4M |
| Goodwill & intangible assets | $20.3M | $21.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $24.1M | $19.7M | $21.1M | $231,000 | $201,000 | $198,000 | $153,000 | $228,000 | $296,000 | $95,000 |
| Total assets | $246.7M | $148.5M | $127.9M | $98.1M | $62.3M | $21.7M | $20.6M | $21.3M | $31.0M | $30.9M |
| Liabilities | ||||||||||
| Accounts payable | $6.8M | $6.7M | $5.3M | $9.2M | $4.2M | $2.9M | $945,000 | $1.9M | $1.8M | $2.8M |
| Short-term debt | $626,000 | $909,000 | $465,000 | $137,000 | $794,000 | $3.8M | $1.3M | — | $6.1M | $69,000 |
| Deferred revenue | $5.2M | $179,000 | $97,000 | $132,000 | $152,000 | $162,000 | $170,000 | $542,000 | $290,000 | $3.5M |
| Total current liabilities | $17.9M | $15.6M | $10.5M | $16.3M | $11.0M | $9.1M | $3.9M | $5.5M | $11.1M | $7.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $1.0M | $0 | $0 | $6.1M |
| Lease obligations | $9.9M | $10.8M | $6.2M | $6.3M | $1.0M | $1.7M | $2.3M | — | — | — |
| Other long-term liabilities | $9.3M | $10.0M | $5.8M | $6.2M | $325,000 | $1.2M | $1.6M | $342,000 | $522,000 | $104,000 |
| Total liabilities | $27.2M | $25.6M | $16.3M | $22.5M | $11.3M | $10.2M | $6.5M | $5.9M | $11.7M | $14.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $325,000 | $299,000 | $289,000 | $285,000 | $271,000 | $237,000 | $231,000 | $227,000 | $56.8M | $52.4M |
| Retained earnings (deficit) | −$30.2M | −$23.1M | −$19.1M | −$52.3M | −$66.9M | −$76.3M | −$74.3M | −$71.5M | −$66.2M | −$66.8M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$104,999 | −$126,000 | −$158,000 | −$155,000 | −$105,000 | −$28,000 | $2.2M | $2.2M | $2.3M | $2.2M |
| Minority interest | — | — | — | — | — | — | −$21,000 | −$19,000 | −$20,000 | −$19,000 |
| Total shareholders' equity | $219.5M | $122.9M | $111.6M | $75.6M | $51.0M | $11.4M | $14.1M | $15.5M | $19.3M | $16.8M |
| Key figures | ||||||||||
| Total debt | $9.9M | $10.8M | $6.2M | $6.3M | $1.0M | $4.8M | $3.9M | — | $6.1M | $6.2M |
| Net cash (debt) | $106.5M | $14.4M | $43.0M | $41.6M | $30.5M | −$241,000 | $1.5M | — | $10.7M | $11.6M |
| Working capital | $166.6M | $73.1M | $87.3M | $72.7M | $49.0M | $10.1M | $13.8M | $14.5M | $18.3M | $21.5M |
| Tangible book value | $199.2M | $101.4M | $111.6M | $75.6M | $51.0M | $11.4M | $14.1M | $15.5M | $19.3M | $16.8M |
| Book value per share | $7.16 | $4.15 | $3.77 | $2.59 | $1.84 | $0.49 | $0.62 | $0.69 | $0.85 | $1.03 |
| Shares outstanding | 30.7M | 29.6M | 29.6M | 29.2M | 27.8M | 23.5M | 22.9M | 22.4M | 22.8M | 16.3M |
| Current ratio | 10.33 | 5.68 | 9.31 | 5.46 | 5.45 | 2.12 | 4.57 | 3.63 | 2.64 | 3.73 |
| Quick ratio | 7.50 | 2.75 | 5.63 | 3.96 | 4.03 | 1.08 | 2.37 | 1.87 | 1.77 | 2.77 |
| Debt / equity | 0.05 | 0.09 | 0.06 | 0.08 | 0.02 | 0.42 | 0.28 | — | 0.32 | 0.37 |
| Equity / assets | 89.0% | 82.7% | 87.2% | 77.0% | 81.8% | 52.8% | 68.4% | 72.6% | 62.4% | 54.4% |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | Aug '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $116.4M | $36.9M | $30.8M | $22.7M | $25.2M | $30.1M | $33.1M | $37.8M | $49.2M | $47.6M | $50.5M | $51.0M |
| Cash & equivalents | $116.4M | $36.9M | $30.8M | $22.7M | $25.2M | $30.1M | $33.1M | $37.8M | $49.2M | $47.6M | $50.5M | $51.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Receivables | $17.5M | $11.8M | $10.3M | $13.1M | $17.8M | $12.0M | $7.5M | $8.6M | $10.0M | $5.8M | $6.6M | $13.2M |
| Inventory | $41.4M | $41.2M | $42.7M | $41.8M | $42.0M | $42.3M | $43.8M | $43.0M | $37.5M | $38.1M | $33.8M | $31.6M |
| Other current assets | $9.3M | $6.0M | $4.3M | $6.4M | $3.8M | $7.3M | $4.1M | $3.6M | $1.2M | $870,000 | $810,000 | $540,000 |
| Total current assets | $184.4M | $95.9M | $88.2M | $84.1M | $88.8M | $91.7M | $88.5M | $92.9M | $97.8M | $92.3M | $91.8M | $96.2M |
| Property, plant & equipment (net) | $17.8M | $18.4M | $18.3M | $18.4M | $18.6M | $12.8M | $10.3M | $9.8M | $9.0M | $9.0M | $9.2M | $9.0M |
| Goodwill & intangible assets | $20.3M | $20.6M | $20.9M | $21.2M | $21.5M | $21.9M | $22.3M | $22.2M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $150,000 |
| Other non-current assets | $24.1M | $22.2M | $21.4M | $20.5M | $19.7M | $19.2M | $21.2M | $20.9M | $21.1M | $234,000 | $238,000 | $72,000 |
| Total assets | $246.7M | $157.0M | $148.7M | $144.1M | $148.5M | $145.6M | $142.3M | $145.9M | $127.9M | $101.6M | $101.2M | $105.5M |
| Liabilities | ||||||||||||
| Accounts payable | $6.8M | $2.1M | $3.5M | $3.4M | $6.7M | $7.0M | $4.9M | $5.6M | $5.3M | $5.0M | $4.2M | $8.3M |
| Short-term debt | $626,000 | $606,000 | $585,000 | $905,000 | $909,000 | $1.2M | $858,000 | $827,000 | $465,000 | $428,000 | $397,000 | $275,000 |
| Deferred revenue | $5.2M | $1.9M | $443,000 | $293,000 | $179,000 | $239,000 | $102,000 | $113,000 | $97,000 | $68,000 | $79,000 | $4.1M |
| Total current liabilities | $17.9M | $8.7M | $8.3M | $11.9M | $15.6M | $16.1M | $11.7M | $15.4M | $10.5M | $9.2M | $8.0M | $19.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $9.9M | $10.0M | $10.2M | $10.6M | $10.8M | $6.4M | $6.4M | $6.7M | $6.2M | $6.3M | $6.4M | $6.3M |
| Other long-term liabilities | $9.3M | $9.5M | $9.7M | $9.8M | $10.0M | $5.3M | $7.4M | $8.0M | $5.8M | $5.9M | $6.1M | $6.1M |
| Total liabilities | $27.2M | $18.3M | $18.0M | $21.7M | $25.6M | $21.4M | $19.1M | $23.4M | $16.3M | $15.1M | $14.0M | $25.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $325,000 | $310,000 | $306,000 | $300,000 | $299,000 | $298,000 | $297,000 | $295,000 | $289,000 | $289,000 | $288,000 | $288,000 |
| Retained earnings (deficit) | −$30.2M | −$31.6M | −$28.4M | −$25.1M | −$23.1M | −$20.2M | −$19.5M | −$18.5M | −$19.1M | −$43.0M | −$41.5M | −$47.6M |
| Accumulated other comprehensive income | −$104,999 | −$84,000 | −$110,000 | −$95,000 | −$126,000 | −$181,000 | −$191,000 | −$134,000 | −$158,000 | −$144,000 | −$134,000 | −$141,000 |
| Total shareholders' equity | $219.5M | $138.8M | $130.8M | $122.4M | $122.9M | $124.2M | $123.2M | $122.5M | $111.6M | $86.5M | $87.2M | $80.1M |
| Key figures | ||||||||||||
| Total debt | $9.9M | $10.0M | $10.2M | $10.6M | $10.8M | $6.4M | $6.4M | $6.7M | $6.2M | $6.3M | $6.4M | $6.3M |
| Net cash (debt) | $106.5M | $26.9M | $20.7M | $12.1M | $14.4M | $23.7M | $26.6M | $31.1M | $43.0M | $41.3M | $44.1M | $44.7M |
| Working capital | $166.6M | $87.2M | $79.9M | $72.1M | $73.1M | $75.6M | $76.8M | $77.5M | $87.3M | $83.2M | $83.8M | $77.0M |
| Tangible book value | $199.2M | $118.2M | $109.9M | $101.2M | $101.4M | $102.3M | $100.9M | $100.3M | $111.6M | $86.5M | $87.2M | $80.1M |
| Book value per share | $7.16 | $4.52 | $4.35 | $4.09 | $4.12 | $4.18 | $4.15 | $4.13 | $3.79 | $3.00 | $2.93 | $2.70 |
| Shares outstanding | 30.7M | 30.7M | 30.1M | 29.9M | 29.8M | 29.7M | 29.7M | 29.6M | 29.5M | 28.9M | 29.8M | 29.6M |
| Current ratio | 10.33 | 10.97 | 10.62 | 7.06 | 5.68 | 5.71 | 7.55 | 6.03 | 9.31 | 10.06 | 11.53 | 5.00 |
| Quick ratio | 7.50 | 5.57 | 4.95 | 3.00 | 2.75 | 2.62 | 3.47 | 3.01 | 5.63 | 5.82 | 7.18 | 3.33 |
| Debt / equity | 0.05 | 0.07 | 0.08 | 0.09 | 0.09 | 0.05 | 0.05 | 0.05 | 0.06 | 0.07 | 0.07 | 0.08 |
| Equity / assets | 89.0% | 88.4% | 87.9% | 84.9% | 82.7% | 85.3% | 86.6% | 84.0% | 87.2% | 85.1% | 86.1% | 76.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 27, 2026); data from EODHD.
AEHR financial position
At the end of fiscal 2026 (May 31, 2026), Aehr Test Systems had total assets of $246.7 million (up 66.1% from a year earlier), total liabilities of $27.2 million and shareholders' equity of $219.5 million. It held $116.4 million in cash and short-term investments against $9.9 million of debt, a net cash position of $106.5 million. Its current ratio was 10.33.
Related: AEHR income statement, AEHR cash flow statement, AEHR key metrics. See the AEHR stock overview for the latest quote and news.
AEHR balance sheet FAQ
What are Aehr Test Systems's total assets?
Aehr Test Systems reported total assets of $246.7 million at the end of fiscal 2026 (May 31, 2026), compared with $148.5 million a year earlier.
How much debt does Aehr Test Systems have?
Aehr Test Systems had $9.9 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.05.
How much cash does Aehr Test Systems have?
Aehr Test Systems held $116.4 million in cash and short-term investments at the end of fiscal 2026; with $9.9 million of debt that is net cash of $106.5 million.
What is Aehr Test Systems's book value?
Aehr Test Systems's shareholders' equity (book value) was $219.5 million at the end of fiscal 2026, or $7.16 per share.
What is Aehr Test Systems's current ratio?
Aehr Test Systems had current assets of $184.4 million and current liabilities of $17.9 million, a current ratio of 10.33 (it can cover its short-term obligations).
How much goodwill does Aehr Test Systems have?
Aehr Test Systems carried $20.3 million of goodwill and intangible assets, 8.2% of total assets, at the end of fiscal 2026.