3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Aehr Test Systems's 3-Year ROIIC % for the quarter that ended in May. 2025 was -13.70%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Aehr Test Systems's 3-Year ROIIC % or its related term are showing as below:
AEHR's 3-Year ROIIC % is ranked worse than 65.46% of 996
companies
in the Semiconductors industry
Industry Median: -0.155
vs AEHR: -13.70
Aehr Test Systems (NAS:AEHR) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Aehr Test Systems 3-Year ROIIC % Related Terms
Aehr Test Systems 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Aehr Test Systems's 3-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
AEHR vs COHU, AMBA, ICHR: 3-Year ROIIC % Comparison
For the Semiconductor Equipment & Materials subindustry, Aehr Test Systems's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Aehr Test Systems 3-Year ROIIC % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Aehr Test Systems's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Aehr Test Systems's 3-Year ROIIC % falls into.
Aehr Test Systems's 3-Year ROIIC % for the quarter that ended in May. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -4.3856056 (May. 2025) - 7.7259 (May. 2022) )
/
( 111.859 (May. 2025) - 23.449 (May. 2022) )
=
-12.1115056
/
88.41
=
-13.70%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Aehr Test Systems (AEHR) has a 3-Year ROIIC % of -13.70 as of May. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Aehr Test Systems and its competitors. According to the industry distribution chart, Aehr Test Systems ranks #652 out of 996 companies in the Semiconductors industry, placing it in the top 65.5%.
Is Aehr Test Systems' 3-Year ROIIC % too high?
Aehr Test Systems' current 3-Year ROIIC % is -13.70. Based on the distribution chart, Aehr Test Systems ranks #652 out of 996 companies in the Semiconductors industry, which is below the industry midpoint. Overall, Aehr Test Systems has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aehr Test Systems' 3-Year ROIIC % compare to COHU and AMBA?
According to the Semiconductors industry distribution chart, Aehr Test Systems ranks #652 out of 996 companies for 3-Year ROIIC %. This places Aehr Test Systems in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Semiconductors company?
A good 3-Year ROIIC % depends on the Semiconductors industry context. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Aehr Test Systems and its competitors. Aehr Test Systems's current 3-Year ROIIC % is -13.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aehr Test Systems stock overvalued right now?
Based on GuruFocus' analysis, Aehr Test Systems (AEHR) is currently considered Significantly Overvalued. The stock's GF Value™ is $14.86, compared to a current price of $72.61 — trading 388.6% above its estimated fair value. The current 3-Year ROIIC % is -13.70. Aehr Test Systems' overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Aehr Test Systems (AEHR), the current 3-Year ROIIC % is -13.70 as of May. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Aehr Test Systems (AEHR) Overvalued in 2026?
Based on GuruFocus' analysis, Aehr Test Systems stock appears to be overvalued.
The current stock price of $72.61 is trading 388.6% above its estimated GF Value™ of $14.86.
GuruFocus considers Aehr Test Systems to be Significantly Overvalued.
Key valuation signals for AEHR:
3-Year ROIIC %: -13.70
GF Value™: $14.86 vs. price of $72.61 (388.6% above fair value)
No single metric tells the full story. See the AEHR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aehr Test Systems is engaged in test systems for burning-in and testing logic, optical, and memory integrated circuits. Increased quality and reliability needs of the Automotive and Mobility integrated circuit markets. The Company operates in one business segment, the designing, manufacturing, marketing and selling of advanced test and burn-in products to the semiconductor manufacturing industry in several geographic areas. The company provides production solutions across the product manufacturing flow to improve yield and reliability and has developed and introduced several inventive products, including the ABTSTM and FOX-PTM families of test and burn-in systems and FOX WaferPakTM Aligner, FOX-XP WaferPak Contactor, FOX DiePak Carrier and FOX DiePak Loader.
62GF Score
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