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Applied Optoelectronics, Inc.(AAOI)Earnings, Financials & Key Ratios
AAOI•NASDAQ
$180.57
$14.25B mkt cap·Price updated May 6, 2026
AboutApplied Optoelectronics, Inc. designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to internet data center operators, cable television and telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels. Applied Optoelectronics, Inc. was incorporated in 1997 and is headquartered in Sugar Land, Texas.Show more
- Revenue$456M+82.8%
- EBITDA-$27M+46.5%
- Net Income-$38M+79.5%
- EPS (Diluted)-0.64+85.8%
- Gross Margin30.04%+21.2%
- EBITDA Margin-5.9%+70.7%
- Operating Margin-11.98%+57.9%
- Net Margin-8.39%+88.8%
- ROE-7.94%+90.6%
- ROIC-7.89%+52.3%
- Debt/Equity0.23-72.6%
- Interest Coverage-12.36+53.1%
AAOI Key Insights
Applied Optoelectronics, Inc. (AAOI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Momentum leader: RS Rating 98 (top 2%)
- ✓High quality earnings: Operating CF exceeds net income
- ✓Strong 5Y sales CAGR of 14.2%
✗Weaknesses
- ✗Negative free cash flow
- ✗Shares diluted 44.9% in last year
- ✗Expensive at 14.8x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
AAOI Price & Volume
Applied Optoelectronics, Inc. (AAOI) stock price & volume — 10-year historical chart
Loading chart...
AAOI Growth Metrics
Applied Optoelectronics, Inc. (AAOI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years9.15%
5 Years14.2%
3 Years26.93%
TTM82.75%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM79.53%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM84.84%
Return on Capital
10 Years-7.06%
5 Years-15.81%
3 Years-14.73%
Last Year-8.48%
AAOI Recent Earnings
Applied Optoelectronics, Inc. (AAOI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 3/12 qtrs (25%)
Q1 2026Latest
Feb 26, 2026EPS
$0.01
Est $0.12
+91.7%
Revenue
$134M
Est $132M
+1.5%
Q4 2025
Nov 6, 2025EPS
$0.09
Est $0.10
+10.0%
Revenue
$119M
Est $132M
-9.8%
Q3 2025
Aug 7, 2025EPS
$0.16
Est $0.08
-100.0%
Revenue
$103M
Est $119M
-13.2%
Q2 2025
May 8, 2025EPS
$0.02
Est $0.04
+50.0%
Revenue
$100M
Est $99M
+0.5%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $0.01vs $0.12+91.7% | $134Mvs $132M+1.5% |
| Q4 2025 | Nov 6, 2025 | $0.09vs $0.10+10.0% | $119Mvs $132M-9.8% |
| Q3 2025 | Aug 7, 2025 | $0.16vs $0.08-100.0% | $103Mvs $119M-13.2% |
| Q2 2025 | May 8, 2025 | $0.02vs $0.04+50.0% | $100Mvs $99M+0.5% |
Based on last 12 quarters of dataView full earnings history →
AAOI Peer Comparison
Applied Optoelectronics, Inc. (AAOI) competitors in Optical, Photonics and Display Components — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LITE | 71.01B | 994.56 | 2688 | 21.03% | 11.95% | 27.64% | 2.30 | |
 OESX | 33.32M | 9.38 | -2.61 | -11.99% | -5.62% | -0.04% | 1.48% | 0.87 |
 COHR | 62.94B | 335.73 | -645.63 | 23.42% | 4.66% | 0% | 0.31% | 0.46 |
 VIAV | 12.49B | 53.97 | 359.80 | 8.39% | -4.03% | -6.92% | 0.5% | 0.89 |
 CIEN | 77.06B | 544.75 | 640.88 | 18.79% | 4.47% | 8.26% | 0.86% | 0.58 |
 ADTN | 1.23B | 15.30 | -26.84 | 17.46% | -2.64% | -5.53% | 7.94% | 0.47 |
 CALX | 2.96B | 45.82 | 176.23 | 20.26% | 3.2% | 4.25% | 3.9% | 0.03 |
 CSCO | 373.43B | 94.30 | 36.98 | 5.3% | 18.76% | 23.21% | 3.56% | 0.63 |
Compare AAOI vs Peers
Applied Optoelectronics, Inc. (AAOI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
AAOI Income Statement
Applied Optoelectronics, Inc. (AAOI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 382.33M | 267.46M | 190.87M | 234.62M | 211.56M | 222.82M | 217.65M | 249.37M | 455.71M |
| Revenue Growth % | 46.65% | -30.04% | -28.64% | 22.92% | -9.83% | 5.32% | -2.32% | 14.57% | 82.75% |
| Cost of Goods Sold | 216.05M | 179.69M | 144.67M | 184.08M | 173.85M | 189.19M | 158.72M | 187.56M | 318.8M |
| COGS % of Revenue | 56.51% | 67.18% | 75.79% | 78.46% | 82.17% | 84.91% | 72.93% | 75.22% | 69.96% |
| Gross Profit | 166.28M▲ 0% | 87.77M▼ 47.2% | 46.2M▼ 47.4% | 50.54M▲ 9.4% | 37.72M▼ 25.4% | 33.63M▼ 10.8% | 58.92M▲ 75.2% | 61.8M▲ 4.9% | 136.91M▲ 121.5% |
| Gross Margin % | 43.49% | 32.82% | 24.21% | 21.54% | 17.83% | 15.09% | 27.07% | 24.78% | 30.04% |
| Gross Profit Growth % | 91.23% | -47.21% | -47.36% | 9.39% | -25.38% | -10.84% | 75.22% | 4.89% | 121.54% |
| Operating Expenses | 79.33M | 98.54M | 94.95M | 99.38M | 94.48M | 92.63M | 100.27M | 132.71M | 191.51M |
| OpEx % of Revenue | 20.75% | 36.84% | 49.74% | 42.36% | 44.66% | 41.57% | 46.07% | 53.22% | 42.03% |
| Selling, General & Admin | 43.96M | 48.64M | 51.55M | 55.99M | 53.26M | 56.38M | 64.3M | 77.75M | 106.01M |
| SG&A % of Revenue | 11.5% | 18.18% | 27.01% | 23.86% | 25.17% | 25.3% | 29.54% | 31.18% | 23.26% |
| Research & Development | 35.37M | 49.9M | 43.4M | 43.39M | 41.22M | 36.24M | 35.98M | 54.95M | 85.51M |
| R&D % of Revenue | 9.25% | 18.66% | 22.74% | 18.49% | 19.48% | 16.27% | 16.53% | 22.04% | 18.76% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 86.95M▲ 0% | -10.77M▼ 112.4% | -48.75M▼ 352.7% | -48.84M▼ 0.2% | -56.77M▼ 16.2% | -59M▼ 3.9% | -41.35M▲ 29.9% | -70.91M▼ 71.5% | -54.6M▲ 23.0% |
| Operating Margin % | 22.74% | -4.03% | -25.54% | -20.82% | -26.83% | -26.48% | -19% | -28.44% | -11.98% |
| Operating Income Growth % | 277.72% | -112.38% | -352.7% | -0.19% | -16.22% | -3.93% | 29.91% | -71.49% | 23% |
| EBITDA | 107.33M | 18.93M | -24.73M | -24.11M | -31.39M | -35.8M | -20.92M | -50.26M | -26.91M |
| EBITDA Margin % | 28.07% | 7.08% | -12.96% | -10.28% | -14.84% | -16.07% | -9.61% | -20.15% | -5.9% |
| EBITDA Growth % | 188.46% | -82.36% | -230.66% | 2.52% | -30.22% | -14.02% | 41.55% | -140.22% | 46.47% |
| D&A (Non-Cash Add-back) | 20.38M | 29.7M | 24.01M | 24.73M | 25.37M | 23.2M | 20.43M | 20.65M | 27.7M |
| EBIT | 86.95M | -8.67M | -45.98M | -45.59M | -48.54M | -60.08M | -46.61M | -179.91M | -43.21M |
| Net Interest Income | -637K | -824K | -4.48M | -5.38M | -5.55M | -6.19M | -8.82M | -5.95M | -1.71M |
| Interest Income | 221K | 282K | 925K | 255K | 70K | 126K | 609K | 874K | 1.79M |
| Interest Expense | 858K | 1.11M | 5.41M | 5.63M | 5.62M | 6.32M | 9.43M | 6.83M | 3.5M |
| Other Income/Expense | -2.42M | 990K | -2.64M | -2.38M | 2.61M | -7.4M | -14.69M | -115.82M | 7.9M |
| Pretax Income | 84.53M▲ 0% | -9.78M▼ 111.6% | -51.39M▼ 425.5% | -51.22M▲ 0.3% | -54.16M▼ 5.7% | -66.4M▼ 22.6% | -56.04M▲ 15.6% | -186.73M▼ 233.2% | -46.7M▲ 75.0% |
| Pretax Margin % | 22.11% | -3.66% | -26.92% | -21.83% | -25.6% | -29.8% | -25.75% | -74.88% | -10.25% |
| Income Tax | 10.57M | -7.63M | 14.66M | 7.23M | 2K | 1K | 9K | 2K | -8.48M |
| Effective Tax Rate % | 12.51% | 78.05% | -28.53% | -14.11% | -0% | -0% | -0.02% | -0% | 18.15% |
| Net Income | 73.95M▲ 0% | -2.15M▼ 102.9% | -66.05M▼ 2977.8% | -58.45M▲ 11.5% | -54.16M▲ 7.3% | -66.4M▼ 22.6% | -56.05M▲ 15.6% | -186.73M▼ 233.2% | -38.23M▲ 79.5% |
| Net Margin % | 19.34% | -0.8% | -34.6% | -24.91% | -25.6% | -29.8% | -25.75% | -74.88% | -8.39% |
| Net Income Growth % | 136.76% | -102.9% | -2977.77% | 11.5% | 7.34% | -22.59% | 15.59% | -233.17% | 79.53% |
| Net Income (Continuing) | 73.95M | -2.15M | -66.05M | -58.45M | -54.16M | -66.4M | -56.05M | -186.73M | -38.23M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.67▲ 0% | -0.11▼ 103.0% | -3.31▼ 2909.1% | -2.67▲ 19.3% | -2.01▲ 24.7% | -2.38▼ 18.4% | -1.75▲ 26.5% | -4.50▼ 157.1% | -0.64▲ 85.8% |
| EPS Growth % | 108.52% | -103% | -2909.09% | 19.34% | 24.72% | -18.41% | 26.47% | -157.14% | 85.78% |
| EPS (Basic) | 3.87 | -0.11 | -3.31 | -2.67 | -2.01 | -2.38 | -1.75 | -4.50 | -0.64 |
| Diluted Shares Outstanding | 20.14M | 19.65M | 19.98M | 21.87M | 26.91M | 27.85M | 31.94M | 41.54M | 60.18M |
| Basic Shares Outstanding | 19.1M | 19.65M | 19.98M | 21.87M | 26.91M | 27.85M | 31.94M | 41.54M | 60.18M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
AAOI Balance Sheet
Applied Optoelectronics, Inc. (AAOI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 229.7M | 194.28M | 192.8M | 209.17M | 194.08M | 183.16M | 172.6M | 301.27M | 675.73M |
| Cash & Short-Term Investments | 82.97M | 55.65M | 59.98M | 43.42M | 34.66M | 24.68M | 45.37M | 67.43M | 216.03M |
| Cash Only | 82.94M | 55.65M | 59.98M | 43.42M | 34.66M | 24.68M | 45.37M | 67.43M | 216.03M |
| Short-Term Investments | 36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 59.85M | 30.53M | 34.66M | 43.44M | 56.09M | 61.51M | 48.29M | 116.8M | 244.4M |
| Days Sales Outstanding | 57.14 | 41.67 | 66.27 | 67.58 | 96.77 | 100.77 | 80.98 | 170.96 | 195.75 |
| Inventory | 75.77M | 93.26M | 85.03M | 110.4M | 92.52M | 79.68M | 63.87M | 88.14M | 183.1M |
| Days Inventory Outstanding | 128 | 189.43 | 214.52 | 218.9 | 194.24 | 153.72 | 146.86 | 171.51 | 209.64 |
| Other Current Assets | 2.41M | 3.55M | 12.92M | 11.9M | 10.81M | 17.29M | 15.08M | 28.9M | 32.18M |
| Total Non-Current Assets | 223.29M | 272.56M | 274.02M | 271.64M | 260.38M | 225.1M | 216.58M | 245.76M | 492.7M |
| Property, Plant & Equipment | 197.94M | 234.21M | 256.33M | 260.8M | 250.17M | 215.78M | 205.34M | 228.88M | 425.75M |
| Fixed Asset Turnover | 1.93x | 1.14x | 0.74x | 0.90x | 0.85x | 1.03x | 1.06x | 1.09x | 1.07x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.81M | 9.79M | 9.68M | 9.85M | 9.69M | 8.94M | 8.66M | 3.68M | 3.62M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.73M | 6.85M | 724K | 982K | 518K | 386K | 2.58M | 13.2M | 63.33M |
| Total Assets | 452.98M▲ 0% | 466.84M▲ 3.1% | 466.82M▼ 0.0% | 480.81M▲ 3.0% | 454.46M▼ 5.5% | 408.26M▼ 10.2% | 389.19M▼ 4.7% | 547.03M▲ 40.6% | 1.17B▲ 113.6% |
| Asset Turnover | 0.84x | 0.57x | 0.41x | 0.49x | 0.47x | 0.55x | 0.56x | 0.46x | 0.39x |
| Asset Growth % | 40.54% | 3.06% | -0% | 2.99% | -5.48% | -10.17% | -4.67% | 40.56% | 113.59% |
| Total Current Liabilities | 70.71M | 77.42M | 91.36M | 103.15M | 108.96M | 138.58M | 93.36M | 170.07M | 257.28M |
| Accounts Payable | 43.62M | 29.91M | 32.83M | 29.48M | 34.4M | 47.84M | 32.89M | 104.97M | 143.93M |
| Days Payables Outstanding | 73.7 | 60.75 | 82.82 | 58.46 | 72.23 | 92.31 | 75.64 | 204.27 | 164.79 |
| Short-Term Debt | 559K | 28.22M | 39.68M | 54.13M | 57.89M | 69.41M | 38.97M | 41.63M | 37.5M |
| Deferred Revenue (Current) | 441K | 426K | 312K | 303K | 195K | 3M | 1.8M | 0 | 0 |
| Other Current Liabilities | 2.04M | 2.86M | 3.83M | 3.66M | 4.4M | 3.48M | 2.38M | 4.2M | 75.85M |
| Current Ratio | 3.25x | 2.51x | 2.11x | 2.03x | 1.78x | 1.32x | 1.85x | 1.77x | 2.63x |
| Quick Ratio | 2.18x | 1.30x | 1.18x | 0.96x | 0.93x | 0.75x | 1.16x | 1.25x | 1.91x |
| Cash Conversion Cycle | 111.44 | 170.34 | 197.97 | 228.02 | 218.78 | 162.18 | 152.21 | 138.2 | 240.6 |
| Total Non-Current Liabilities | 49M | 60.33M | 101.68M | 99.77M | 90.93M | 85.01M | 80.96M | 147.85M | 177.22M |
| Long-Term Debt | 48.96M | 60.33M | 93.59M | 91.76M | 83.68M | 79.51M | 76.23M | 138.81M | 129.83M |
| Capital Lease Obligations | 0 | 0 | 8.08M | 8.01M | 7.25M | 5.5M | 4.73M | 9.04M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 47.39M |
| Total Liabilities | 119.71M | 137.75M | 193.03M | 202.91M | 199.89M | 223.59M | 174.32M | 317.92M | 434.5M |
| Total Debt | 49.56M | 88.55M | 142.34M | 154.92M | 149.9M | 155.53M | 121.07M | 190.86M | 167.33M |
| Net Debt | -33.38M | 32.9M | 82.36M | 111.5M | 115.24M | 130.84M | 75.71M | 123.43M | -48.71M |
| Debt / Equity | 0.15x | 0.27x | 0.52x | 0.56x | 0.59x | 0.84x | 0.56x | 0.83x | 0.23x |
| Debt / EBITDA | 0.46x | 4.68x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.31x | 1.74x | - | - | - | - | - | - | - |
| Interest Coverage | 101.34x | -7.84x | -8.51x | -8.09x | -8.64x | -9.51x | -4.94x | -26.36x | -12.36x |
| Total Equity | 333.28M▲ 0% | 329.09M▼ 1.3% | 273.79M▼ 16.8% | 277.89M▲ 1.5% | 254.57M▼ 8.4% | 184.67M▼ 27.5% | 214.87M▲ 16.4% | 229.11M▲ 6.6% | 733.92M▲ 220.3% |
| Equity Growth % | 46.57% | -1.25% | -16.8% | 1.5% | -8.39% | -27.46% | 16.35% | 6.63% | 220.33% |
| Book Value per Share | 16.55 | 16.75 | 13.70 | 12.71 | 9.46 | 6.63 | 6.73 | 5.52 | 12.19 |
| Total Shareholders' Equity | 333.28M | 329.09M | 273.79M | 277.89M | 254.57M | 184.67M | 214.87M | 229.11M | 733.92M |
| Common Stock | 19K | 20K | 20K | 25K | 27K | 29K | 38K | 49K | 75K |
| Retained Earnings | 38.14M | 35.99M | -30.06M | -88.51M | -142.67M | -209.07M | -265.12M | -451.85M | -490.08M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 9.74M | 602K | 430K | 11.69M | 16.07M | 2.18M | 975K | -2.55M | -617K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
AAOI Cash Flow Statement
Applied Optoelectronics, Inc. (AAOI) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 84.28M | 14.03M | -1.75M | -44.01M | -11.64M | -14.02M | -7.93M | -69.53M | -174.43M |
| Operating CF Margin % | 22.04% | 5.25% | -0.92% | -18.76% | -5.5% | -6.29% | -3.64% | -27.88% | -38.28% |
| Operating CF Growth % | 47.6% | -83.36% | -112.5% | -2409.07% | 73.54% | -20.42% | 43.45% | -776.86% | -150.88% |
| Net Income | 73.95M | -2.15M | -66.05M | -58.45M | -54.16M | -66.4M | -56.05M | -186.73M | -38.23M |
| Depreciation & Amortization | 20.38M | 29.7M | 24.01M | 24.73M | 25.37M | 23.2M | 20.43M | 20.65M | 27.7M |
| Stock-Based Compensation | 7.79M | 11.12M | 11.8M | 13.05M | 12.12M | 9.6M | 11.88M | 14.79M | 0 |
| Deferred Taxes | -114K | -8.96M | 14.57M | 7.35M | 0 | 0 | 0 | 0 | -7.58M |
| Other Non-Cash Items | 2.37M | 6.67M | 7.43M | 3.73M | -931K | 7.67M | 9.75M | 117.64M | 19.62M |
| Working Capital Changes | -20.1M | -22.35M | 6.47M | -34.41M | 5.96M | 11.9M | 6.06M | -35.88M | -175.94M |
| Change in Receivables | -10.08M | 29.32M | -4.36M | -8.81M | -14.61M | -4.99M | 13.21M | -68.51M | -127.6M |
| Change in Inventory | -21.88M | -28.4M | 1.56M | -23.67M | 15.79M | 1.15M | 6.79M | -29.41M | -100.72M |
| Change in Payables | 7.25M | -13.71M | 3.15M | -3.35M | 7.07M | 12.97M | -14.95M | 72.08M | 38.96M |
| Cash from Investing | -70.16M | -76.51M | -32.12M | -19.35M | -10.55M | -3.83M | -14.76M | -50.7M | -210.6M |
| Capital Expenditures | -66.97M | -71.85M | -28.79M | -15.79M | -7.98M | -3.21M | -9.08M | -43.41M | -179.53M |
| CapEx % of Revenue | 17.52% | 26.86% | 15.08% | 6.73% | 3.77% | 1.44% | 4.17% | 17.41% | 39.39% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5K |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -3.2M | -4.7M | -3.33M | -3.55M | -2.56M | -624K | -5.68M | -7.29M | -31.08M |
| Cash from Financing | 18.24M | 34.8M | 42.6M | 47.44M | 14.09M | 10.75M | 40.58M | 142.18M | 527.94M |
| Debt Issued (Net) | 5.93M | 38.82M | 43.48M | 9.3M | -357K | 9.97M | -27.47M | 3.01M | 19.48M |
| Equity Issued (Net) | 21.57M | 0 | 14K | 39.2M | 15.4M | 1.24M | 68.98M | 146.29M | 518.91M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -9.26M | -4.02M | -897K | -1.07M | -953K | -454K | -934K | -7.13M | -10.45M |
| Net Change in Cash | 31.98M▲ 0% | -25.94M▼ 181.1% | 9.02M▲ 134.8% | -16.91M▼ 287.4% | -8.98M▲ 46.9% | -5.55M▲ 38.2% | 19.51M▲ 451.6% | 24.04M▲ 23.2% | 136.9M▲ 469.6% |
| Free Cash Flow | 13.95M▲ 0% | -63.22M▼ 553.3% | -33.87M▲ 46.4% | -63.57M▼ 87.7% | -22.3M▲ 64.9% | -18.26M▲ 18.1% | -17.6M▲ 3.6% | -112.93M▼ 541.8% | -353.58M▼ 213.1% |
| FCF Margin % | 3.65% | -23.64% | -17.75% | -27.1% | -10.54% | -8.19% | -8.08% | -45.29% | -77.59% |
| FCF Growth % | 96.01% | -553.31% | 46.42% | -87.69% | 64.92% | 18.14% | 3.63% | -541.8% | -213.09% |
| FCF per Share | 0.69 | -3.22 | -1.70 | -2.91 | -0.83 | -0.66 | -0.55 | -2.72 | -5.87 |
| FCF Conversion (FCF/Net Income) | 1.14x | -6.54x | 0.03x | 0.75x | 0.21x | 0.21x | 0.14x | 0.37x | 4.56x |
| Interest Paid | 872K | 848K | 0 | 0 | 4.9M | 0 | 8.1M | 0 | 0 |
| Taxes Paid | 5.83M | 8.47M | 0 | 0 | 1K | 0 | 9K | 0 | 0 |
AAOI Key Ratios
Applied Optoelectronics, Inc. (AAOI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 15.9% | 26.38% | -0.65% | -21.91% | -21.19% | -20.34% | -30.23% | -28.06% | -84.12% | -7.94% |
| Return on Invested Capital (ROIC) | 8.11% | 25.07% | -2.44% | -10.18% | -9.83% | -11.22% | -12.91% | -10.23% | -16.54% | -7.89% |
| Gross Margin | 33.35% | 43.49% | 32.82% | 24.21% | 21.54% | 17.83% | 15.09% | 27.07% | 24.78% | 30.04% |
| Net Margin | 11.98% | 19.34% | -0.8% | -34.6% | -24.91% | -25.6% | -29.8% | -25.75% | -74.88% | -8.39% |
| Debt / Equity | 0.19x | 0.15x | 0.27x | 0.52x | 0.56x | 0.59x | 0.84x | 0.56x | 0.83x | 0.23x |
| Interest Coverage | 13.41x | 101.34x | -7.84x | -8.51x | -8.09x | -8.64x | -9.51x | -4.94x | -26.36x | -12.36x |
| FCF Conversion | 1.83x | 1.14x | -6.54x | 0.03x | 0.75x | 0.21x | 0.21x | 0.14x | 0.37x | 4.56x |
| Revenue Growth | 37.29% | 46.65% | -30.04% | -28.64% | 22.92% | -9.83% | 5.32% | -2.32% | 14.57% | 82.75% |
AAOI SEC Filings & Documents
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AAOI Frequently Asked Questions
Applied Optoelectronics, Inc. (AAOI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Applied Optoelectronics, Inc. (AAOI) reported $455.7M in revenue for fiscal year 2025. This represents a 853% increase from $47.8M in 2011.
Applied Optoelectronics, Inc. (AAOI) grew revenue by 82.8% over the past year. This is strong growth.
Applied Optoelectronics, Inc. (AAOI) reported a net loss of $38.2M for fiscal year 2025.
Dividend & Returns
Applied Optoelectronics, Inc. (AAOI) has a return on equity (ROE) of -7.9%. Negative ROE indicates the company is unprofitable.
Applied Optoelectronics, Inc. (AAOI) had negative free cash flow of $174.7M in fiscal year 2025, likely due to heavy capital investments.
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