Question 1

What is Aehr Test Systems's P/FCF ratio?

Accepted Answer

Aehr Test Systems (AEHR) P/FCF ratio is 389.7× as of October 10, 2024. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Aehr Test Systems?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Aehr Test Systems specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

Is Aehr Test Systems's P/FCF ratio high or low?

Accepted Answer

Aehr Test Systems's P/FCF ratio of 389.7× is above its own 5-year average of 215.3× and above the sector median of 21.7×. That places the current reading at the 79th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Aehr Test Systems's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Aehr Test Systems (AEHR) P/FCF ratio has ranged from a low of 4.1× in 2008 to a high of 977.9× in 2023. The 5-year average is 215.3× and the 5-year median is 198.1×.

Question 7

What was Aehr Test Systems's P/FCF ratio in 2024?

Accepted Answer

Aehr Test Systems (AEHR) P/FCF ratio at the end of 2024 was 330.9×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Aehr Test Systems's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$284.51M	−$12.39M	—	—	May 30, 2025
2024	$333.25M	$1.01M	330.9×	+222.4×	May 31, 2024
2023	$938.59M	$8.65M	108.5×	-98.7×	May 31, 2023
2022	$226.29M	$1.09M	207.2×	—	May 31, 2022
2021	$59.38M	−$2.93M	—	—	May 31, 2021
2020	$37.59M	−$2.19M	—	—	May 31, 2020
2019	$39.56M	−$5.81M	—	—	May 31, 2019
2018	$57.29M	−$1.92M	—	—	May 31, 2018
2017	$87.25M	−$4.97M	—	—	May 31, 2017
2016	—	—	—	—	May 31, 2016
2015	$31.11M	−$2.37M	—	—	May 31, 2015
2014	$25.06M	−$946.00K	—	—	May 31, 2014
2013	$14.92M	−$437.00K	—	—	May 31, 2013
2012	$11.55M	−$4.92M	—	—	May 31, 2012
2011	$13.22M	−$4.15M	—	—	May 31, 2011
2010	$19.76M	$3.23M	6.1×	—	May 31, 2010
2009	$8.58M	−$12.15M	—	—	May 31, 2009
2008	$73.04M	$2.57M	28.4×	—	May 31, 2008
2007	$47.35M	−$2.21M	—	—	May 31, 2007
2006	$49.40M	$1.26M	39.1×	—	May 31, 2006
2005	$22.50M	−$2.84M	—	—	May 31, 2005
2004	$33.88M	−$959.00K	—	—	May 31, 2004
2003	$20.54M	−$4.08M	—	—	May 31, 2003
2002	$42.67M	−$1.18M	—	—	May 31, 2002


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P/FCF Ratio for Aehr Test Systems (AEHR)

P/FCF Ratio daily chart for Aehr Test Systems (AEHR)

Historical P/FCF Ratio for Aehr Test Systems (AEHR) from 2002 to 2025

About P/FCF Ratio at Aehr Test Systems (AEHR)

Aehr Test Systems P/FCF Ratio by Year

Aehr Test Systems P/FCF Ratio 2024: 330.9×

Aehr Test Systems P/FCF Ratio 2023: 108.5×

Aehr Test Systems P/FCF Ratio 2022: 207.2×

Aehr Test Systems P/FCF Ratio 2010: 6.1×

Aehr Test Systems P/FCF Ratio 2008: 28.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Aehr Test Systems (AEHR) Key Financials

P/FCF Ratio daily chart for Aehr Test Systems (AEHR)

Historical P/FCF Ratio for Aehr Test Systems (AEHR) from 2002 to 2025

About P/FCF Ratio at Aehr Test Systems (AEHR)

Aehr Test Systems P/FCF Ratio by Year

Aehr Test Systems P/FCF Ratio 2024: 330.9×

Aehr Test Systems P/FCF Ratio 2023: 108.5×

Aehr Test Systems P/FCF Ratio 2022: 207.2×

Aehr Test Systems P/FCF Ratio 2010: 6.1×

Aehr Test Systems P/FCF Ratio 2008: 28.4×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Aehr Test Systems's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Aehr Test Systems?

+Is Aehr Test Systems's P/FCF ratio high or low?

+What is Aehr Test Systems's historical P/FCF ratio range?

+What was Aehr Test Systems's P/FCF ratio in 2024?

+Why does Aehr Test Systems's P/FCF ratio change over time?

Aehr Test Systems (AEHR) Key Financials