Aehr Test Systems, Inc. (AEHR) Fair Value 2026

AEHR · Semiconductor Equipment & Materials ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

6.9 /10

32 fundamental signals · 3 models active

Value Trap Risk

WARN (42/100)

Quick Summary — As of 2026-08-27, Aehr Test Systems, Inc. (AEHR) trades at $90.46, versus a $22.69 median fair value across its 3 active models — 74.9% below the current price. QOC: 6.9/10. Value Trap Risk: 42/100 (WARN). 3/13 models active.

Key Facts

Ticker
AEHR
Price
$90.46
Quality Score
6.9/10
Value Trap Risk
42/100
Models Active
3/13
Last Updated
Strength: 3 independent models provide multi-angle coverage
Risk: Value Trap score of 42 suggests caution despite apparent undervaluation

Is Aehr Test Systems, Inc. (AEHR) Undervalued or Overvalued in 2026?

According to CirclFi’s 3-model valuation engine, Aehr Test Systems, Inc. (AEHR) appears overvalued as of : the median of 3 independent fair value estimates is $22.69, 74.9% below the current price of $90.46. Estimates range from $1.30 to $60.87. AEHR scores 6.9/10 on fundamental quality and 42/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.7% versus its own 13-model consensus, across 3,801 rated companies as of 2026-08-27. AEHR’s -74.9% gap is wider than that market norm, and the Semiconductor Equipment & Materials sector median is -71.1%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy Aehr Test Systems, Inc. Stock in 2026? →

What Fair Value Does Each Model Give AEHR?

3 Intrinsic Value Models vs. Current Price ($90.46)

Core Models (Unlocked)
Model Fair Value Upside
Intrinsic · Low Conviction
 $1.30 -98.6%
Relative · Medium Conviction
 $60.87 -32.7%
Relative · Low Conviction
 $22.69 -74.9%

All Models Active

All 3 models are displayed above.

What Is AEHR's Fair Value Range?

Spread across 3 independent models · $1.30 to $60.87

CirclFi's 3 active models place Aehr Test Systems, Inc. (AEHR) between $1.30 and $60.87 per share, a spread of 262% of the median. The median of that range — $22.69 — is the fair value CirclFi publishes for AEHR, against a current price of $90.46.

Low · EPVHigh · Regime Cross
$1.30median $22.69$60.87
Where the range comes from
Most bearish modelEarnings Power Value (EPV)$1.30
Most bullish modelRegime Cross-Sectional$60.87
Model agreement0 bullish · 3 bearishwide

A band this wide is itself the finding. When independent methods land far apart, they are reading a business whose value depends heavily on which lens you apply — volatile earnings, heavy reinvestment, or an asset base that cash-flow and asset-based methods score differently. That disagreement is information: it says the choice of method matters more than usual for AEHR. Treat the median as one reading among several and compare the individual models below before acting.

Every figure above is one model's standalone output on AEHR, not a CirclFi price target. How each model works →

What Is Aehr Test Systems, Inc. (AEHR) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, Aehr Test Systems, Inc.'s intrinsic value is estimated at $22.69. Trading at its current price of $90.46, the valuation engine raises significant caution: 3 of 3 models flag downside risk, projecting a median implied return of -74.9%. The most optimistic model, Regime Cross, places fair value at $60.87 (-32.7%), while EPV — the most conservative — estimates $1.30 (-98.6%). This +65.8% gap reflects genuine analytical uncertainty about Aehr Test Systems, Inc.'s intrinsic worth.

What Do the Models Say About AEHR?

3 of 13 models are currently active for AEHR. All 3 active models suggest the stock trades above fair value. Taken together, their median fair value for AEHR is $22.69 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does AEHR Rank in Semiconductor Equipment & Materials?

Among 32 Semiconductor Equipment & Materials stocks, AEHR ranks #23 by Quality of Company score. CirclFi's QOC score of 6.9/10 evaluates 32 fundamental signals. A score of 6.9 indicates above-average quality.

The Semiconductor Equipment & Materials sector introduces analytical considerations specific to semiconductor industry businesses. For Aehr Test Systems, Inc., metrics like R&D-to-revenue ratio provide important context that general-purpose valuation models may underweight.

Is AEHR a Value Trap?

CirclFi's Value Trap algorithm assigns AEHR a score of 42/100 (WARN). This is a warning signal. Additional research into recent 10-Q filings is recommended. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

3 of 13 models are active for Aehr Test Systems, Inc.. Limited activation may indicate insufficient history. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Deep Alpha Valuation Engine, Aehr Test Systems, Inc. scores 6.9 out of 10 on our 32-signal quality assessment, a solid rating that maintains reasonable quality metrics with some areas for improvement. The QOC score synthesizes profitability margins, revenue growth reliability, debt management, and capital allocation into a single metric designed to separate durable businesses from statistically cheap ones.

The gap between the most bullish and bearish model spans +65.8% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every AEHR valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across AEHR's 3 active models, average confidence is 20%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy Aehr Test Systems, Inc. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Semiconductor Equipment & Materials Stocks Should You Also Analyze?

11 related Semiconductor Equipment & Materials stocks with 13-model coverage

AMBAAmbarella, Inc.QOC 7.0COHUCohu, Inc.QOC 6.8IPGPIPG Photonics CorporationQOC 7.5ICHRIchor Holdings, Ltd.QOC 6.8INTTInTest CorporationQOC 7.6AXTIAXT, Inc.QOC 6.7ATOMAtomera IncorporatedQOC 6.1CAMTCamtek Ltd.QOC 9.0ENTGEntegris, Inc.QOC 8.0KLACKLA CorporationQOC 9.8ASMLASML Holding N.V.QOC 9.7

Read investment analysis: AMBA · COHU · IPGP · ICHR · INTT · AXTI · ATOM · CAMT · ENTG · KLAC · ASML

Which Other Stocks Have a Similar Quality Score to AEHR?

7 companies across all industries closest to AEHR’s Quality of Company score of 6.9/10.

EMLThe Eastern CompanyQOC 6.9CAVACAVA Group, Inc.QOC 6.9CYRXCryoport, Inc.QOC 6.9CTKBCytek Biosciences, Inc.QOC 6.9MATVMativ Holdings, Inc.QOC 6.9PCSVPCS Edventures!, Inc.QOC 6.9NVDANVIDIA CorporationQOC 10.0

Read investment analysis: EML · CAVA · CYRX · CTKB · MATV · PCSV · NVDA

What Else Do Investors Ask About Aehr Test Systems, Inc.’s Valuation?

What is Aehr Test Systems, Inc.'s intrinsic value in 2026?

CirclFi puts Aehr Test Systems, Inc. (AEHR)'s intrinsic value at $22.69 — the median of 3 independent model estimates as of 2026-08-27, ranging from $1.30 to $60.87. The Quality of Company score is 6.9/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is AEHR overvalued or undervalued right now?

At $90.46, 0 of 3 active models suggest AEHR may be undervalued, while 3 indicate potential overvaluation. The median of all 3 fair value estimates is $22.69, 74.9% below the current price of $90.46 — a consensus view that AEHR is overvalued. The assessment depends on which methodology best fits Aehr Test Systems, Inc.'s business model in Semiconductor Equipment & Materials.

What does a Quality of Company score of 6.9 mean for AEHR?

Aehr Test Systems, Inc.'s QOC of 6.9/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on AEHR?

CirclFi analyzes AEHR with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 3 of 13 are active for this stock. Read the full methodology →

Which valuation models are most bullish and most bearish on AEHR?

Of the 3 models currently active on AEHR, Regime Cross-Sectional is the most bullish at $60.87 per share, and Earnings Power Value (EPV) is the most bearish at $1.30. CirclFi's published fair value for AEHR is the median of that range, $22.69, not either extreme. The gap between the two ends equals 262% of the median — a wide spread, meaning the methods genuinely disagree and the median should carry less weight. Browse stocks by value-trap risk →

Is AEHR a value trap in 2026?

Aehr Test Systems, Inc.'s Value Trap score is 42/100 (WARN). This elevated score suggests the stock may look undervalued but faces deteriorating fundamentals — declining margins, rising debt, or shrinking revenue could make the apparent discount deceptive. Browse our ranked stock lists to compare value-trap scores across industries.

Cite this analysis — “According to CirclFi’s 3-model valuation engine, Aehr Test Systems, Inc. (AEHR) has a median fair value of $22.69 — 74.9% below the current price of $90.46 — as of 2026-08-27.” Source: circlfi.com/stock/AEHR/ · Methodology
Primary sources for this AEHR valuation
  • Financial statements: Aehr Test Systems, Inc. 10-K and 10-Q filings on SEC EDGAR (CIK 0001040470) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for AEHR as of ; valuations recomputed .