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AEHR TEST SYSTEMS（AEHR）与FREQUENCY ELECTRONICS INC（FEIM）财务数据对比。点击上方公司名可切换其他公司
FREQUENCY ELECTRONICS INC的季度营收约是AEHR TEST SYSTEMS的1.7倍（$17.1M vs $9.9M）。FREQUENCY ELECTRONICS INC净利率更高（10.5% vs -32.7%，领先43.2%）。FREQUENCY ELECTRONICS INC同比增速更快（8.3% vs -26.5%）。FREQUENCY ELECTRONICS INC自由现金流更多（$-1.1M vs $-1.6M）。过去两年AEHR TEST SYSTEMS的营收复合增速更高（14.3% vs 11.8%）
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。
超电子控股是一家英国国防与安全企业，曾在伦敦证券交易所上市，是富时250指数成分股之一，后被隶属于安宏资本的科巴姆公司收购。
AEHR vs FEIM — 直观对比
营收规模更大
FEIM
是对方的1.7倍
$9.9M
营收增速更快
FEIM
高出34.8%
-26.5%
净利率更高
FEIM
高出43.2%
-32.7%
自由现金流更多
FEIM
多$502.0K
$-1.6M
两年增速更快
AEHR
近两年复合增速
11.8%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $9.9M | $17.1M |
| 净利润 | $-3.2M | $1.8M |
| 毛利率 | 25.7% | 38.2% |
| 营业利润率 | -47.0% | 10.0% |
| 净利率 | -32.7% | 10.5% |
| 营收同比 | -26.5% | 8.3% |
| 净利润同比 | -214.2% | -32.1% |
| 每股收益（稀释后） | $-0.11 | $0.18 |
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AEHRFEIM
| Q4 25 | $9.9M | $17.1M | ||
| Q3 25 | $11.0M | $13.8M | ||
| Q2 25 | $14.1M | $20.0M | ||
| Q1 25 | $18.3M | $18.9M | ||
| Q4 24 | $13.5M | $15.8M | ||
| Q3 24 | $13.1M | $15.1M | ||
| Q2 24 | $16.6M | $15.6M | ||
| Q1 24 | $7.6M | $13.7M |
净利润AEHRFEIM
| Q4 25 | $-3.2M | $1.8M | ||
| Q3 25 | $-2.1M | $634.0K | ||
| Q2 25 | $-2.9M | $3.2M | ||
| Q1 25 | $-643.0K | $15.4M | ||
| Q4 24 | $-1.0M | $2.7M | ||
| Q3 24 | $660.0K | $2.4M | ||
| Q2 24 | $23.9M | $2.6M | ||
| Q1 24 | $-1.5M | $130.0K |
毛利率AEHRFEIM
| Q4 25 | 25.7% | 38.2% | ||
| Q3 25 | 33.9% | 36.8% | ||
| Q2 25 | 30.3% | 37.5% | ||
| Q1 25 | 39.2% | 43.8% | ||
| Q4 24 | 40.1% | 48.2% | ||
| Q3 24 | 54.0% | 44.4% | ||
| Q2 24 | 50.9% | 40.3% | ||
| Q1 24 | 41.7% | 22.6% |
营业利润率AEHRFEIM
| Q4 25 | -47.0% | 10.0% | ||
| Q3 25 | -37.1% | 2.6% | ||
| Q2 25 | -22.7% | 16.4% | ||
| Q1 25 | -6.1% | 18.3% | ||
| Q4 24 | -11.2% | 16.5% | ||
| Q3 24 | 1.2% | 15.7% | ||
| Q2 24 | 15.3% | 16.0% | ||
| Q1 24 | -27.1% | -3.4% |
净利率AEHRFEIM
| Q4 25 | -32.7% | 10.5% | ||
| Q3 25 | -19.0% | 4.6% | ||
| Q2 25 | -20.6% | 16.0% | ||
| Q1 25 | -3.5% | 81.4% | ||
| Q4 24 | -7.6% | 16.8% | ||
| Q3 24 | 5.0% | 16.1% | ||
| Q2 24 | 143.8% | 16.9% | ||
| Q1 24 | -19.4% | 0.9% |
每股收益（稀释后）AEHRFEIM
| Q4 25 | $-0.11 | $0.18 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $-0.10 | $0.33 | ||
| Q1 25 | $-0.02 | $1.60 | ||
| Q4 24 | $-0.03 | $0.28 | ||
| Q3 24 | $0.02 | $0.25 | ||
| Q2 24 | $0.81 | $0.28 | ||
| Q1 24 | $-0.05 | $0.01 |
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 | $3.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $130.8M | $58.5M |
| 总资产 | $148.7M | $92.3M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AEHRFEIM
| Q4 25 | $30.8M | $3.0M | ||
| Q3 25 | $22.7M | $4.5M | ||
| Q2 25 | $24.5M | $4.7M | ||
| Q1 25 | $29.4M | $5.5M | ||
| Q4 24 | $32.2M | $9.7M | ||
| Q3 24 | $37.8M | $16.2M | ||
| Q2 24 | $49.2M | $18.3M | ||
| Q1 24 | $47.6M | $11.7M |
股东权益AEHRFEIM
| Q4 25 | $130.8M | $58.5M | ||
| Q3 25 | $122.4M | $56.3M | ||
| Q2 25 | $122.9M | $55.6M | ||
| Q1 25 | $124.2M | $51.8M | ||
| Q4 24 | $123.2M | $36.2M | ||
| Q3 24 | $122.5M | $33.2M | ||
| Q2 24 | $111.6M | $39.8M | ||
| Q1 24 | $86.5M | $36.7M |
总资产AEHRFEIM
| Q4 25 | $148.7M | $92.3M | ||
| Q3 25 | $144.1M | $93.2M | ||
| Q2 25 | $148.5M | $93.7M | ||
| Q1 25 | $145.6M | $86.4M | ||
| Q4 24 | $142.3M | $77.8M | ||
| Q3 24 | $145.9M | $84.3M | ||
| Q2 24 | $127.9M | $83.3M | ||
| Q1 24 | $101.6M | $77.7M |
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 | $-523.0K |
| 自由现金流经营现金流 - 资本支出 | $-1.6M | $-1.1M |
| 自由现金流率自由现金流/营收 | -16.6% | -6.6% |
| 资本支出强度资本支出/营收 | 4.7% | 3.6% |
| 现金转化率经营现金流/净利润 | — | -0.29× |
| 过去12个月自由现金流最近4个季度 | $-11.7M | $-5.5M |
8季度趋势，按日历期对齐
经营现金流AEHRFEIM
| Q4 25 | $-1.2M | $-523.0K | ||
| Q3 25 | $-282.0K | $1.2M | ||
| Q2 25 | $-2.3M | $-155.0K | ||
| Q1 25 | $-1.6M | $-3.6M | ||
| Q4 24 | $-5.9M | $3.8M | ||
| Q3 24 | $2.4M | $-1.5M | ||
| Q2 24 | $1.2M | $7.5M | ||
| Q1 24 | $-2.8M | $4.2M |
自由现金流AEHRFEIM
| Q4 25 | $-1.6M | $-1.1M | ||
| Q3 25 | $-1.7M | $385.0K | ||
| Q2 25 | $-5.1M | $-786.0K | ||
| Q1 25 | $-3.3M | $-4.0M | ||
| Q4 24 | $-6.2M | $3.3M | ||
| Q3 24 | $2.2M | $-1.8M | ||
| Q2 24 | $1.2M | $6.7M | ||
| Q1 24 | $-3.1M | $3.9M |
自由现金流率AEHRFEIM
| Q4 25 | -16.6% | -6.6% | ||
| Q3 25 | -15.3% | 2.8% | ||
| Q2 25 | -36.3% | -3.9% | ||
| Q1 25 | -17.8% | -20.9% | ||
| Q4 24 | -46.0% | 20.8% | ||
| Q3 24 | 16.6% | -11.8% | ||
| Q2 24 | 7.1% | 42.8% | ||
| Q1 24 | -40.8% | 28.4% |
资本支出强度AEHRFEIM
| Q4 25 | 4.7% | 3.6% | ||
| Q3 25 | 12.7% | 5.6% | ||
| Q2 25 | 20.0% | 3.2% | ||
| Q1 25 | 9.0% | 1.7% | ||
| Q4 24 | 2.4% | 3.3% | ||
| Q3 24 | 1.5% | 2.2% | ||
| Q2 24 | 0.3% | 5.3% | ||
| Q1 24 | 3.5% | 2.3% |
现金转化率AEHRFEIM
| Q4 25 | — | -0.29× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | -0.24× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | 3.61× | -0.60× | ||
| Q2 24 | 0.05× | 2.85× | ||
| Q1 24 | — | 32.36× |
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% |
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
