Applied Optoelectronics, Inc.
AAOI Nasdaq· Semiconductors & Related Devices
Last close · Oct 23, 2026
$67.51
KIRA · Stoqly’s AI analyst, in plain words
- Applied Optoelectronics, Inc. had $456M of revenue in fiscal 2025, up 82.8% on the year before. Over five years, revenue changed +14.2% a year on average.
- Its operating margin was −12.0%, up 16.5 pts: of every 100 in sales, about −12 is left after running the business.
- Applied Optoelectronics, Inc. lost $38.2M in fiscal 2025.
- Free cash flow was −$354M in fiscal 2025, −77.6% of revenue.
- Applied Optoelectronics, Inc. has $172M more cash than debt.
Market cap
$5.5B
P/E
—
Revenue
$456M
Net income
−$38.2M
Free cash flow
−$354M
Operating margin
−12.0%
Applied Optoelectronics, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+82.8%
Yes. Sales grew 82.8% last year.
Does it make a profit?
−8.4%
No. It lost money last year.
Does profit turn into cash?
−77.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Applied Optoelectronics, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- APPLIED OPTOELECTRONICS, INC.
- CIK
- 0001158114
Applied Optoelectronics, Inc. · AAOI
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $212M | $223M | $218M | $249M | $456M |
| Revenue growth | −9.8% | 5.3% | −2.3% | 14.6% | 82.8% |
| Gross margin | 17.8% | 15.1% | 27.1% | 24.8% | 30.0% |
| Operating margin | −26.8% | −26.5% | −19.0% | −28.4% | −12.0% |
| Net income | −$54.2M | −$66.4M | −$56.0M | −$187M | −$38.2M |
| Net margin | −25.6% | −29.8% | −25.8% | −74.9% | −8.4% |
| Diluted EPS | −$2.01 | −$2.38 | −$1.75 | −$4.50 | −$0.64 |
| Cash | |||||
| Cash from operations | −$11.6M | −$14.0M | −$7.9M | −$69.5M | −$174M |
| Capital expenditure | $8.0M | $3.2M | $9.1M | $43.4M | $179M |
| Free cash flow | −$19.6M | −$17.2M | −$17.0M | −$113M | −$354M |
| FCF margin | −9.3% | −7.7% | −7.8% | −45.3% | −77.6% |
| Share count change | 23.1% | 3.5% | 14.7% | 30.0% | 44.9% |
| Debt and strength | |||||
| Cash and short-term investments | $34.7M | $24.7M | $45.4M | $67.4M | $206M |
| Debt incl. finance leases | $54.8M | $57.1M | $23.2M | $26.7M | $34.0M |
| Shareholders' equity | $255M | $185M | $215M | $229M | $734M |
| Current ratio | 1.8x | 1.3x | 1.8x | 1.8x | 2.6x |
| Interest coverage | −10.1x | −9.3x | −4.4x | −10.4x | −15.6x |
| Returns and quality | |||||
| Return on capital | −16.3% | −21.5% | −17.0% | −29.7% | −7.7% |
| Return on equity | −20.3% | −30.2% | −28.1% | −84.1% | −7.9% |
| Return on tangible equity | −21.6% | −36.7% | −26.5% | −82.8% | −5.2% |
| Piotroski F-score | 2 | 2 | 6 | 2 | 4 |
| Altman Z'' | 0.7 | −1.1 | −0.3 | −1.2 | 2.4 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$126M
10 insiders
Of sales under plans
18%
$22.9M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Applied Optoelectronics, Inc. · AAOI
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $67.51 a share, the company is worth $5.5B.
Source: SEC EDGAR XBRL filings (CIK 0001158114). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.