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AEHR TEST SYSTEMS（AEHR）与Ametek（AME）财务数据对比。点击上方公司名可切换其他公司
Ametek的季度营收约是AEHR TEST SYSTEMS的202.2倍（$2.0B vs $9.9M）。Ametek净利率更高（19.9% vs -32.7%，领先52.6%）。Ametek同比增速更快（13.4% vs -26.5%）。Ametek自由现金流更多（$527.3M vs $-1.6M）。过去两年AEHR TEST SYSTEMS的营收复合增速更高（14.3% vs 7.3%）
Aehr Test Systems是全球半导体测试领域供应商，主要设计、生产和销售先进的半导体老化测试设备，服务于芯片制造商、封测厂商及芯片设计企业，产品用于逻辑芯片、存储芯片、功率半导体的可靠性验证，业务覆盖北美、亚洲、欧洲等主要市场。
AMETEK Inc.是美国跨国综合企业，为全球知名的电子仪器及机电设备设计商与制造商，总部位于美国，在全球范围内设有超过150个运营站点，业务覆盖多个国家和地区，为各行业客户提供高性能的相关产品及配套解决方案。
AEHR vs AME — 直观对比
营收规模更大
AME
是对方的202.2倍
$9.9M
营收增速更快
AME
高出40.0%
-26.5%
净利率更高
AME
高出52.6%
-32.7%
自由现金流更多
AME
多$528.9M
$-1.6M
两年增速更快
AEHR
近两年复合增速
7.3%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $9.9M | $2.0B |
| 净利润 | $-3.2M | $398.6M |
| 毛利率 | 25.7% | 36.0% |
| 营业利润率 | -47.0% | 25.3% |
| 净利率 | -32.7% | 19.9% |
| 营收同比 | -26.5% | 13.4% |
| 净利润同比 | -214.2% | 2.9% |
| 每股收益（稀释后） | $-0.11 | $1.73 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AEHRAME
| Q4 25 | $9.9M | $2.0B | ||
| Q3 25 | $11.0M | $1.9B | ||
| Q2 25 | $14.1M | $1.8B | ||
| Q1 25 | $18.3M | $1.7B | ||
| Q4 24 | $13.5M | $1.8B | ||
| Q3 24 | $13.1M | $1.7B | ||
| Q2 24 | $16.6M | $1.7B | ||
| Q1 24 | $7.6M | $1.7B |
净利润AEHRAME
| Q4 25 | $-3.2M | $398.6M | ||
| Q3 25 | $-2.1M | $371.4M | ||
| Q2 25 | $-2.9M | $358.4M | ||
| Q1 25 | $-643.0K | $351.8M | ||
| Q4 24 | $-1.0M | $387.3M | ||
| Q3 24 | $660.0K | $340.2M | ||
| Q2 24 | $23.9M | $337.7M | ||
| Q1 24 | $-1.5M | $310.9M |
毛利率AEHRAME
| Q4 25 | 25.7% | 36.0% | ||
| Q3 25 | 33.9% | 36.3% | ||
| Q2 25 | 30.3% | 35.8% | ||
| Q1 25 | 39.2% | 36.1% | ||
| Q4 24 | 40.1% | 36.6% | ||
| Q3 24 | 54.0% | 36.0% | ||
| Q2 24 | 50.9% | 36.0% | ||
| Q1 24 | 41.7% | 34.1% |
营业利润率AEHRAME
| Q4 25 | -47.0% | 25.3% | ||
| Q3 25 | -37.1% | 25.8% | ||
| Q2 25 | -22.7% | 26.0% | ||
| Q1 25 | -6.1% | 26.3% | ||
| Q4 24 | -11.2% | 26.6% | ||
| Q3 24 | 1.2% | 26.1% | ||
| Q2 24 | 15.3% | 25.8% | ||
| Q1 24 | -27.1% | 24.0% |
净利率AEHRAME
| Q4 25 | -32.7% | 19.9% | ||
| Q3 25 | -19.0% | 19.6% | ||
| Q2 25 | -20.6% | 20.2% | ||
| Q1 25 | -3.5% | 20.3% | ||
| Q4 24 | -7.6% | 22.0% | ||
| Q3 24 | 5.0% | 19.9% | ||
| Q2 24 | 143.8% | 19.5% | ||
| Q1 24 | -19.4% | 17.9% |
每股收益（稀释后）AEHRAME
| Q4 25 | $-0.11 | $1.73 | ||
| Q3 25 | $-0.07 | $1.60 | ||
| Q2 25 | $-0.10 | $1.55 | ||
| Q1 25 | $-0.02 | $1.52 | ||
| Q4 24 | $-0.03 | $1.67 | ||
| Q3 24 | $0.02 | $1.47 | ||
| Q2 24 | $0.81 | $1.45 | ||
| Q1 24 | $-0.05 | $1.34 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $30.8M | $458.0M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $130.8M | $10.6B |
| 总资产 | $148.7M | $16.1B |
| 负债/权益比越低杠杆越低 | — | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资AEHRAME
| Q4 25 | $30.8M | $458.0M | ||
| Q3 25 | $22.7M | $439.2M | ||
| Q2 25 | $24.5M | $619.7M | ||
| Q1 25 | $29.4M | $399.0M | ||
| Q4 24 | $32.2M | $374.0M | ||
| Q3 24 | $37.8M | $396.3M | ||
| Q2 24 | $49.2M | $396.6M | ||
| Q1 24 | $47.6M | $373.8M |
总债务AEHRAME
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益AEHRAME
| Q4 25 | $130.8M | $10.6B | ||
| Q3 25 | $122.4M | $10.5B | ||
| Q2 25 | $122.9M | $10.4B | ||
| Q1 25 | $124.2M | $10.0B | ||
| Q4 24 | $123.2M | $9.7B | ||
| Q3 24 | $122.5M | $9.6B | ||
| Q2 24 | $111.6M | $9.3B | ||
| Q1 24 | $86.5M | $9.0B |
总资产AEHRAME
| Q4 25 | $148.7M | $16.1B | ||
| Q3 25 | $144.1M | $16.2B | ||
| Q2 25 | $148.5M | $15.3B | ||
| Q1 25 | $145.6M | $14.9B | ||
| Q4 24 | $142.3M | $14.6B | ||
| Q3 24 | $145.9M | $14.8B | ||
| Q2 24 | $127.9M | $14.8B | ||
| Q1 24 | $101.6M | $14.9B |
负债/权益比AEHRAME
| Q4 25 | — | 0.21× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-1.2M | $584.3M |
| 自由现金流经营现金流 - 资本支出 | $-1.6M | $527.3M |
| 自由现金流率自由现金流/营收 | -16.6% | 26.4% |
| 资本支出强度资本支出/营收 | 4.7% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 1.47× |
| 过去12个月自由现金流最近4个季度 | $-11.7M | $1.7B |
8季度趋势，按日历期对齐
经营现金流AEHRAME
| Q4 25 | $-1.2M | $584.3M | ||
| Q3 25 | $-282.0K | $440.9M | ||
| Q2 25 | $-2.3M | $359.1M | ||
| Q1 25 | $-1.6M | $417.5M | ||
| Q4 24 | $-5.9M | $550.0M | ||
| Q3 24 | $2.4M | $487.2M | ||
| Q2 24 | $1.2M | $381.4M | ||
| Q1 24 | $-2.8M | $410.2M |
自由现金流AEHRAME
| Q4 25 | $-1.6M | $527.3M | ||
| Q3 25 | $-1.7M | $420.0M | ||
| Q2 25 | $-5.1M | $329.8M | ||
| Q1 25 | $-3.3M | $394.5M | ||
| Q4 24 | $-6.2M | $498.3M | ||
| Q3 24 | $2.2M | $460.9M | ||
| Q2 24 | $1.2M | $360.0M | ||
| Q1 24 | $-3.1M | $382.6M |
自由现金流率AEHRAME
| Q4 25 | -16.6% | 26.4% | ||
| Q3 25 | -15.3% | 22.2% | ||
| Q2 25 | -36.3% | 18.5% | ||
| Q1 25 | -17.8% | 22.8% | ||
| Q4 24 | -46.0% | 28.3% | ||
| Q3 24 | 16.6% | 27.0% | ||
| Q2 24 | 7.1% | 20.8% | ||
| Q1 24 | -40.8% | 22.0% |
资本支出强度AEHRAME
| Q4 25 | 4.7% | 2.9% | ||
| Q3 25 | 12.7% | 1.1% | ||
| Q2 25 | 20.0% | 1.6% | ||
| Q1 25 | 9.0% | 1.3% | ||
| Q4 24 | 2.4% | 2.9% | ||
| Q3 24 | 1.5% | 1.5% | ||
| Q2 24 | 0.3% | 1.2% | ||
| Q1 24 | 3.5% | 1.6% |
现金转化率AEHRAME
| Q4 25 | — | 1.47× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 1.19× | ||
| Q4 24 | — | 1.42× | ||
| Q3 24 | 3.61× | 1.43× | ||
| Q2 24 | 0.05× | 1.13× | ||
| Q1 24 | — | 1.32× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AEHR
| Systems | $5.0M | 50% |
| Contactors | $3.4M | 35% |
| Services | $1.5M | 15% |
AME
| Transferred At Point In Time | $1.1B | 54% |
| Electronic Instruments Group | $620.1M | 31% |
| Transferred Over Time | $294.6M | 15% |
