Aehr Test Systems vs AXT
AXT is the larger business, with $88.3m of revenue in fiscal 2025 against $50.0m for Aehr Test Systems (1.8 times as much). AXT grew faster (-11.1% against -15.2%). Aehr Test Systems kept more of each dollar of sales as profit: a net margin of -14.3% against -24.1%.
| Latest fiscal year | Aehr Test SystemsAEHR, 2026 | AXTAXTI, 2025 |
|---|---|---|
| Revenue | $50.0m | $88.3m |
| Revenue growth | -15.2% | -11.1% |
| Net income | −$7.1m | −$21.3m |
| Operating margin | — | -24.9% |
| Net margin | -14.3% | -24.1% |
| Return on equity | -4.2% | -9.1% |
| Free cash flow | −$5.4m | −$18.8m |
| Cash | $116m | $120m |
| Total debt | $0 | $72.3m |
| Debt to equity | — | 26.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 1,072 |
| Market value | $2.07bn | $3.40bn |
| Price vs our value range | — | — |
| Moat score | 25 (Weak) | 16 (Weak) |
| Insider trades, 12 months | 0 buys, 73 sales | 0 buys, 50 sales |