A Business at a Glance
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APPLIED OPTOELECTRONICS, INC.
AAOI
$6.0B
Mkt Cap
$100.15
-10.60%
APPLIED OPTOELECTRONICS, INC. (AAOI) has a 5-year average return on invested capital (ROIC) of -33.8%. This is below average and may indicate limited pricing power.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a market capitalization of $7.9B. It is classified as a mid-cap stock.
APPLIED OPTOELECTRONICS, INC. (AAOI) does not currently pay a regular dividend.
APPLIED OPTOELECTRONICS, INC. (AAOI) operates in the Semiconductors & Related Devices industry, within the Technology sector.
APPLIED OPTOELECTRONICS, INC. (AAOI) reported annual revenue of $456 million in its most recent fiscal year, based on SEC EDGAR filings.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a net profit margin of -8.4%. The company is currently unprofitable.
APPLIED OPTOELECTRONICS, INC. (AAOI) generated $-354 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Applied Optoelectronics, Inc. (the "Company" or "AOI") is a leading, vertically integrated provider of fiber-optic networking products, primarily for four networking end-markets: internet data center, cable television ("CATV"), telecommunications, ("telecom"), and fiber-to-the-home ("FTTH"). We design and manufacture a range of optical communications products at varying levels of integration, from components, subassemblies and modules to complete turn-key equipment. In designing products for our customers, we typically begin with the fundamental building blocks of lasers and laser components. From these foundational products, we design and manufacture a wide range of products to meet our customers’ needs and specifications, and such products differ from each other by their end market, intended use and level of integration. We are primarily focused on the higher-performance segments within all four of our target markets, which increasingly demand faster connectivity and innovation.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 507M | 456M | 249M | 218M | 223M | 212M |
| Net Income | -43M | -38M | -187M | -56M | -66M | -54M |
| EPS | $-0.62 | $-0.64 | $-4.50 | $-1.75 | $-2.38 | $-2.01 |
| Free Cash Flow | -418M | -354M | -113M | -17M | -17M | -20M |
| ROIC | -6.5% | -7.9% | -83.3% | -28.1% | -29.9% | -19.6% |
| Gross Margin | 29.6% | 30.0% | 24.8% | 27.1% | 15.1% | 17.8% |
| Debt/Equity | 0.04 | 0.12 | 0.16 | 0.14 | 0.34 | 0.25 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -59M | -55M | -71M | -41M | -59M | -57M |
| Operating Margin | -11.6% | -12.0% | -28.4% | -19.0% | -26.5% | -26.8% |
| ROE | -3.9% | -7.9% | -84.1% | -28.1% | -30.2% | -20.3% |
| Shares Outstanding | 79M | 60M | 41M | 32M | 28M | 27M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 130M | 190M | 261M | 382M | 267M | 191M | 235M | 212M | 223M | 218M | 249M | 456M | 507M |
| Gross Margin | 33.9% | 31.8% | 33.4% | 43.5% | 32.8% | 24.2% | 21.5% | 17.8% | 15.1% | 27.1% | 24.8% | 30.0% | 29.6% |
| R&D | 16M | 21M | 32M | 35M | 50M | 43M | 43M | 41M | 36M | 36M | 55M | 86M | 93M |
| SG&A | 17M | 20M | 26M | 35M | 39M | 41M | 42M | 42M | 47M | 53M | 60M | 76M | 84M |
| EBIT | 5.1M | 13M | 23M | 87M | -11M | -49M | -49M | -57M | -59M | -41M | -71M | -55M | -59M |
| Op. Margin | 3.9% | 7.1% | 8.8% | 22.7% | -4.0% | -25.5% | -20.8% | -26.8% | -26.5% | -19.0% | -28.4% | -12.0% | -11.6% |
| Net Income | 4.3M | 11M | 31M | 74M | -2.1M | -66M | -58M | -54M | -66M | -56M | -187M | -38M | -43M |
| Net Margin | 3.3% | 5.7% | 12.0% | 19.3% | -0.8% | -34.6% | -24.9% | -25.6% | -29.8% | -25.8% | -74.9% | -8.4% | -8.5% |
| Non-Recurring | 929K | 2.8M | 4.9M | 6.7M | -7K | -13K | -15K | -1K | 47K | -51K | -132K | -38K | -38K |
| Returns on Capital | |||||||||||||
| ROIC | 6.1% | 9.1% | 11.1% | 29.3% | -0.6% | -19.4% | -20.1% | -19.6% | -29.9% | -28.1% | -83.3% | -7.9% | -6.5% |
| ROE | 4.8% | 7.7% | 15.9% | 26.4% | -0.6% | -21.9% | -21.2% | -20.3% | -30.2% | -28.1% | -84.1% | -7.9% | -3.9% |
| ROA | 2.9% | 4.7% | 10.5% | 19.1% | -0.5% | -14.1% | -12.3% | -11.6% | -15.4% | -14.1% | -39.9% | -4.5% | -2.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 8.5M | -15M | 57M | 84M | 14M | -1.8M | -44M | -12M | -14M | -7.9M | -70M | -174M | -209M |
| Free Cash Flow | -33M | -72M | 7.7M | 17M | -58M | -31M | -60M | -20M | -17M | -17M | -113M | -354M | -418M |
| Owner Earnings | 300K | -27M | 39M | 56M | -27M | -38M | -82M | -49M | -47M | -40M | -105M | -214M | -459M |
| CapEx | 41M | 57M | 49M | 67M | 72M | 29M | 16M | 8.0M | 3.2M | 9.1M | 43M | 179M | 209M |
| Maint. CapEx | 6.2M | 9.4M | 14M | 20M | 30M | 24M | 25M | 25M | 23M | 20M | 21M | 28M | 236M |
| Growth CapEx | 35M | 48M | 35M | 47M | 42M | 4.8M | 0 | 0 | 0 | 0 | 23M | 151M | 0 |
| D&A | 6.2M | 9.4M | 14M | 20M | 30M | 24M | 25M | 25M | 23M | 20M | 21M | 28M | 236M |
| CapEx/OCF | 482.2% | N/A | 86.6% | 79.5% | 512.2% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.1M | 2.1M | 3.8M | 7.8M | 11M | 12M | 13M | 12M | 9.6M | 12M | 15M | 12M | 14M |
| Debt Repayment | 8.1M | 2.4M | 5.9M | 43M | 3.1M | 0 | 0 | 0 | 0 | 0 | 4.6M | 81K | 81K |
| Balance Sheet | |||||||||||||
| Net Debt | 2.6M | 29M | -7.4M | -33M | 28M | -1.1M | 18M | 28M | 39M | -16M | -30M | -121M | -398M |
| Cash & Equiv. | 32M | 28M | 50M | 83M | 56M | 60M | 43M | 35M | 25M | 45M | 67M | 206M | 440M |
| Long-Term Debt | 29M | 34M | 35M | 49M | 60M | 17M | 14M | 5.0M | 0 | 0 | 4.3M | 0 | N/A |
| Debt/Equity | 0.37 | 0.39 | 0.19 | 0.15 | 0.25 | 0.22 | 0.22 | 0.25 | 0.34 | 0.14 | 0.16 | 0.12 | 0.04 |
| Interest Coverage | 15.8 | 13.2 | 13.4 | 101.3 | -9.7 | -9.0 | -8.7 | -10.1 | -9.3 | -4.4 | -10.4 | -15.6 | -15.6 |
| Equity | 115M | 165M | 227M | 333M | 329M | 274M | 278M | 255M | 185M | 215M | 229M | 734M | 1.1B |
| Total Assets | 184M | 273M | 322M | 453M | 467M | 467M | 481M | 454M | 408M | 389M | 547M | 1.2B | 1.6B |
| Total Liabilities | 69M | 108M | 95M | 120M | 138M | 193M | 203M | 200M | 224M | 174M | 318M | 435M | 460M |
| Intangibles | 3.8M | 3.9M | 4.0M | 4.0M | 4.0M | 4.1M | 4.0M | 3.8M | 3.7M | 3.6M | 3.7M | 3.6M | 3.6M |
| Retained Earnings | -79M | -68M | -37M | 38M | 36M | -30M | -89M | -143M | -209M | -265M | -452M | -490M | -504M |
| Working Capital | 65M | 80M | 98M | 159M | 117M | 101M | 106M | 85M | 45M | 79M | 131M | 418M | 733M |
| Current Assets | 113M | 154M | 158M | 230M | 194M | 193M | 209M | 194M | 183M | 173M | 301M | 676M | 993M |
| Current Liabilities | 49M | 74M | 60M | 71M | 77M | 91M | 103M | 109M | 139M | 93M | 170M | 257M | 259M |
| Per Share Data | |||||||||||||
| EPS | 0.28 | 0.65 | 1.76 | 3.67 | -0.11 | -3.31 | -2.67 | -2.01 | -2.38 | -1.75 | -4.50 | -0.64 | -0.62 |
| Owner EPS | 0.02 | -1.61 | 2.20 | 2.78 | -1.37 | -1.88 | -3.74 | -1.82 | -1.68 | -1.26 | -2.53 | -3.58 | -5.81 |
| Book Value | 7.52 | 9.96 | 12.81 | 16.54 | 16.87 | 13.72 | 12.69 | 9.45 | 6.62 | 6.71 | 5.52 | 12.29 | 14.00 |
| Cash Flow/Share | 0.56 | -0.92 | 3.22 | 4.18 | 0.72 | -0.09 | -2.01 | -0.43 | -0.50 | -0.25 | -1.68 | -2.92 | 2.44 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 15.3M | 16.6M | 17.7M | 20.2M | 19.5M | 20.0M | 21.9M | 26.9M | 27.9M | 32.0M | 41.5M | 59.7M | 79.0M |
| Valuation | |||||||||||||
| P/E Ratio | 38.0 | 27.0 | 13.9 | 10.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -162.0 |
| P/FCF | N/A | N/A | 56.5 | 45.2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 26.8 | 23.8 | 18.5 | 8.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.4 | 1.8 | 1.9 | 2.3 | 0.9 | 0.8 | 0.7 | 0.6 | 0.3 | 3.3 | 6.8 | 3.0 | 7.2 |
| Price/Sales | 2.1 | 1.4 | 1.1 | 2.8 | 2.3 | 1.2 | 1.0 | 1.0 | 0.3 | 1.0 | 2.7 | 3.2 | 15.6 |
| FCF Yield | -20.0% | -24.8% | 1.8% | 2.2% | -19.7% | -13.3% | -30.6% | -13.3% | -35.5% | -2.4% | -7.2% | -15.9% | -5.3% |
| Market Cap | 163M | 292M | 433M | 783M | 293M | 230M | 195M | 148M | 49M | 701M | 1.6B | 2.2B | 7.9B |
| Avg. Price | 18.20 | 16.13 | 16.40 | 52.93 | 31.64 | 11.61 | 10.27 | 8.00 | 2.78 | 7.11 | 16.14 | 24.19 | 100.15 |
| Year-End Price | 10.63 | 17.56 | 24.39 | 38.86 | 15.03 | 11.52 | 8.93 | 5.48 | 1.74 | 21.90 | 37.74 | 37.17 | 100.15 |
APPLIED OPTOELECTRONICS, INC. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 23.0%. At current prices, the estimated annualized return to fair value is +7.3%.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a debt-to-equity ratio of 0.12. This indicates a conservatively financed balance sheet.
APPLIED OPTOELECTRONICS, INC. (AAOI) reported earnings per share (EPS) of $-0.64 in its most recent fiscal year.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a return on equity (ROE) of -7.9%. A negative ROE may indicate losses or negative equity.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a 5-year average gross margin of 23.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for APPLIED OPTOELECTRONICS, INC. (AAOI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
APPLIED OPTOELECTRONICS, INC. (AAOI) has a book value per share of $12.29, based on its most recent annual SEC filing.