Applied Optoelectronics
AAOI
122.54
-7.62
-5.85%
Applied Optoelectronics
US · AAOI
#1486 by market cap
Listed 1970
122.54
-7.62
-5.85%
Live - 5344 symbols - heartbeat 16s ago
· 2026-10-08 07:40
Pre-market
117.30
-4.28%
After-hours
122.40
-0.11%
Overnight
118.40
-3.38%
- Market cap
- 10.40B
- P/E (TTM)i
- -159.14
- P/Bi
- 6.24
- EPSi
- -0.64
- Div yieldi
- 0.00%
- 52W posi
- 48%
Reader sentiment
Are you bullish or bearish on AAOI?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Good
- Altman Z-Score is 14.46, above the 3.0 "safe zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +82.75% YoY
Margins
- Gross margin
- 30.04%
- Operating margin
- -10.91%
- Net margin
- -8.39%
Key ratios & quality
- Enterprise valuei
- 10.40B
- Altman Z-Scorei
- 14.46
Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 267.47M | 190.87M | 234.62M | 211.57M | 222.82M | 217.65M | 249.37M | 455.72M |
| Gross profit | 87.77M | 46.20M | 50.54M | 37.72M | 33.63M | 58.92M | 61.80M | 136.91M |
| Selling & admin expenses | 48.64M | 51.55M | 55.99M | 53.26M | 56.38M | 64.30M | 77.75M | 106.01M |
| Research & development | 49.90M | 43.40M | 43.39M | 41.22M | 36.24M | 35.98M | 54.96M | 85.51M |
| Operating profit | -9.83M | -47.13M | -46.13M | -55.42M | -58.84M | -40.41M | -70.51M | -49.74M |
| Pretax profit | -9.78M | -51.39M | -51.22M | -54.16M | -66.40M | -56.04M | -186.73M | -46.70M |
| Tax | -7.63M | 14.66M | 7.23M | 2.00K | 1.00K | 9.00K | 2.00K | -8.48M |
| Net profit | -2.15M | -66.05M | -58.45M | -54.16M | -66.40M | -56.05M | -186.73M | -38.23M |
| Basic EPS | 0 | -3 | -3 | -2 | -2 | -2 | -5 | -1 |
| Diluted EPS | -0.11 | -3.31 | -2.67 | -2.01 | -2.38 | -1.75 | -4.50 | -0.64 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 99.86M | 102.95M | 118.63M | 134.27M | 151.14M | 191.92M |
| Gross profit | 30.54M | 31.16M | 33.26M | 41.94M | 43.92M | 53.21M |
| Selling & admin expenses | 21.67M | 26.53M | 30.19M | 27.63M | 31.25M | 43.06M |
| Research & development | 17.81M | 20.61M | 21.27M | 25.82M | 25.66M | 34.87M |
| Operating profit | -8.76M | -14.66M | -14.97M | -11.35M | -12.88M | -23.85M |
| Pretax profit | -9.17M | -9.10M | -17.94M | -10.50M | -13.23M | -21.49M |
| Tax | 0 | 0 | 0 | -8.48M | 1.05M | 1.29M |
| Net profit | -9.17M | -9.10M | -17.94M | -2.02M | -14.28M | -22.78M |
| Basic EPS | 0 | 0 | 0 | 0 | 0 | 0 |
| Diluted EPS | -0.18 | -0.16 | -0.28 | -0.03 | -0.19 | -0.28 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 194.28M | 192.80M | 209.17M | 194.08M | 183.16M | 172.61M | 301.27M | 675.73M |
| Cash & ST investments | 55.65M | 59.98M | 43.43M | 34.66M | 24.69M | 45.37M | 67.43M | 206.14M |
| Inventory | 93.26M | 85.03M | 110.40M | 92.52M | 79.68M | 63.87M | 88.14M | 183.11M |
| Total assets | 466.84M | 466.83M | 480.81M | 454.46M | 408.26M | 389.19M | 547.03M | 1.17B |
| Total current liabilities | 77.42M | 91.36M | 103.15M | 108.96M | 138.58M | 93.36M | 170.07M | 257.28M |
| Short-term debt | 28.22M | 40.66M | 55.16M | 58.97M | 70.52M | 40.11M | 43.01M | 70.86M |
| Long-term debt | 60.33M | 93.59M | 91.76M | 83.68M | 79.51M | 76.23M | 138.81M | 129.83M |
| Total liabilities | 137,746,000.00 | 193,031,000.00 | 202,914,000.00 | 199,889,000.00 | 223,593,000.00 | 174,317,000.00 | 317,920,000.00 | 434,505,000.00 |
| Total equity | 329.09M | 273.79M | 277.89M | 254.57M | 184.67M | 214.87M | 229.11M | 733.92M |
| Retained earnings | 35.99M | -30.06M | -88.51M | -142.67M | -209.07M | -265.12M | -451.85M | -490.08M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 358.84M | 458.34M | 575.31M | 675.73M | 992.58M | 1.19B |
| Cash & ST investments | 51.14M | 64.70M | 136.96M | 206.14M | 439.71M | 499.74M |
| Inventory | 102.31M | 138.87M | 170.21M | 183.11M | 206.25M | 278.79M |
| Total assets | 644.67M | 796.85M | 978.53M | 1.17B | 1.57B | 2.30B |
| Total current liabilities | 191.01M | 216.84M | 249.14M | 257.28M | 259.43M | 428.45M |
| Short-term debt | 45.65M | 56.20M | 64.86M | 70.86M | 79.92M | 95.42M |
| Long-term debt | 136.04M | 133.94M | 130.12M | 129.83M | 129.52M | 130.80M |
| Total liabilities | 335,655,000.00 | 371,869,000.00 | 419,443,000.00 | 434,505,000.00 | 459,927,000.00 | 633,167,000.00 |
| Total equity | 309.01M | 424.98M | 559.09M | 733.92M | 1.11B | 1.67B |
| Retained earnings | -461.02M | -470.12M | -488.06M | -490.08M | -504.36M | -527.14M |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 14.03M | -1.75M | -44.01M | -11.64M | -14.02M | -7.93M | -69.53M | -174.43M |
| Depreciation & amortization | 29.70M | 24.01M | 24.73M | 25.37M | 23.20M | 20.43M | 20.65M | 27.70M |
| Free cash flow | -63.89M | -31.18M | -60.29M | -20.08M | -17.73M | -17.60M | -113.44M | -353.96M |
| Dividends paid | -- | -- | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 0 | 0 | 39.20M | 15.40M | 1.24M | 68.98M | 146.29M | 518.91M |
| Ending cash balance | 58.00M | 67.03M | 50.12M | 41.14M | 35.59M | 55.10M | 79.13M | 216.04M |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -50.92M | -65.47M | -28.46M | -29.58M | -85.35M | 11.57M |
| Depreciation & amortization | 5.73M | 6.40M | 7.37M | 8.21M | 9.23M | 10.50M |
| Free cash flow | -79.37M | -91.03M | -78.83M | -104.72M | -143.70M | -274.06M |
| Dividends paid | -- | -- | -- | -- | -- | -- |
| Stock buybacks / issuance | 71.67M | 124.11M | 146.79M | 176.35M | 382.45M | 645.76M |
| Ending cash balance | 66.81M | 87.20M | 150.72M | 216.04M | 449.38M | 508.76M |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | -0.65 | -21.91 | -21.19 | -20.34 | -30.23 | -28.06 | -84.12 | -7.94 |
| ROA %i | -0.47 | -14.15 | -12.34 | -11.58 | -15.39 | -14.06 | -39.89 | -4.46 |
| ROIC %i | -0.39 | -15.08 | -12.85 | -11.61 | -16.17 | -13.97 | -47.83 | -5.25 |
| 5-year avg ROE %i | 10.83 | 5.48 | -0.29 | -7.54 | -18.87 | -24.35 | -36.79 | -34.14 |
| EBIT margin %i | -3.24 | -24.09 | -19.43 | -22.94 | -26.96 | -21.42 | -72.15 | -9.48 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Current ratioi | 2.51 | 2.11 | 2.03 | 1.78 | 1.32 | 1.85 | 1.77 | 2.63 |
| Quick ratioi | 1.11 | 1.04 | 0.84 | 0.83 | 0.62 | 1.00 | 1.08 | 1.75 |
| Debt / assetsi | 18.97 | 30.49 | 32.22 | 32.98 | 38.09 | 31.11 | 34.89 | 21.23 |
| LT debt / equityi | 18.33 | 37.14 | 35.90 | 35.72 | 46.03 | 37.68 | 64.53 | 24.15 |
| Interest coveragei | -7.84 | -8.51 | -8.09 | -8.64 | -9.51 | -4.94 | -26.36 | -12.36 |
| Revenue CAGR (3Y) %i | 12.09 | -9.87 | -15.02 | -7.52 | 5.29 | -2.47 | 5.63 | 26.93 |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- | -- | -- |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | -68.45 | -50.93 | -40.43 | -7.94 | -6.13 | -5.45 |
| ROA %i | -34.70 | -27.20 | -22.46 | -4.46 | -3.92 | -3.68 |
| ROIC %i | -41.55 | -32.71 | -27.22 | -5.25 | -4.59 | -4.57 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | -54.01 | -40.87 | -35.92 | -9.48 | -9.34 | -10.00 |
| FCF / sales %i | -- | -- | -- | -- | -- | -- |
| Current ratioi | 1.88 | 2.11 | 2.31 | 2.63 | 3.83 | 2.78 |
| Quick ratioi | 1.16 | 1.27 | 1.45 | 1.75 | 2.85 | 1.90 |
| Debt / assetsi | 29.52 | 26.51 | 24.03 | 21.23 | 17.91 | 13.04 |
| LT debt / equityi | 46.81 | 36.48 | 30.46 | 24.15 | 18.13 | 12.27 |
| Interest coveragei | -27.39 | -28.89 | -34.37 | -12.36 | -13.82 | -16.87 |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Data Center is the largest reported line at 53.86% of revenue, across 4 reported segments.
- Cable television (CATV) follows at 44.22%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Data Center53.86%
Cable television (CATV)44.22%
Telecommunications (Telecom)1.69%
Other0.22%
Quote time 2026-10-08 07:40:19 · For reference only, not investment advice and not tailored to your situation.