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Applied Optoelectronics, Inc.

Applied Optoelectronics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $455.7 million, up 82.8% from fiscal 2024. In the quarter to June 2026, revenue grew 86.4%, EPS fell 75.0%, free cash flow fell 191.6% and total debt rose 69.0%, each against the same quarter a year earlier.

100.68 8.96 −8.17%

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Market cap: $9.3B
P/E: 0.0×
Fwd P/E: 202×
Dividend yield: —
F-score: 4/9
Altman Z: 2.98
Beneish M: −0.51
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	12.83	9.80	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Piotroski F-Score Full definition →	8	7	2	1	3	3	2	6	1	4
P/S ratio Full definition →	1.52	1.89	1.13	1.24	0.79	0.65	0.23	2.74	6.14	4.60
Altman Z-Score Full definition →	3.80	5.64	2.23	0.97	0.71	0.25	(0.38)	1.62	2.05	2.98
P/FCF ratio Full definition →	55.74	42.62	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z″-Score (non-manufacturers) Full definition →	4.61	6.79	4.25	2.00	1.60	0.70	(1.06)	(0.30)	(1.23)	2.44
Beneish M-Score Full definition →	(2.20)	(2.47)	(2.96)	(2.95)	(2.46)	(2.70)	(2.86)	(3.40)	(2.30)	(0.51)
P/Operating CF Full definition →	13.83	27.03	(26.14)	(75.00)	(13.19)	(529.99)	(15.03)	385.18	(62.20)	(70.93)
P/B ratio Full definition →	1.75	2.17	0.92	0.87	0.67	0.54	0.28	2.78	6.68	2.86
Price to Tangible BV Full definition →	1.79	2.20	0.95	0.90	0.69	0.56	0.30	2.90	6.94	2.89
EV/Sales Full definition →	1.54	1.86	1.22	1.60	1.24	1.13	0.77	2.84	6.47	4.59
EV/EBITDA Full definition →	10.78	6.61	17.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	7.02	8.42	23.26	(173.73)	(6.61)	(20.60)	(12.29)	(78.00)	(23.20)	(12.00)
EV/FCF Full definition →	56.27	41.78	(5.66)	(9.77)	(4.84)	(12.01)	(9.94)	(35.42)	(14.22)	(5.91)
Quick Ratio Full definition →	1.70	2.03	1.14	1.11	0.90	0.82	0.70	1.11	1.15	1.79
Current Ratio Full definition →	2.63	3.25	2.51	2.11	2.03	1.78	1.32	1.85	1.77	2.63
Net Debt/EBITDA Full definition →	(0.24)	(0.32)	1.61	(2.82)	(4.51)	(3.33)	(3.44)	(1.15)	(1.22)	3.09
Debt/Assets Full definition →	13.38%	10.93%	18.97%	28.78%	32.20%	31.40%	38.09%	19.66%	25.38%	11.11%
Debt/Equity Full definition →	0.19	0.15	0.27	0.49	0.56	0.56	0.84	0.36	0.61	0.18
Asset Turnover Full definition →	0.88	0.99	0.58	0.41	0.50	0.45	0.52	0.55	0.53	0.53
Operating CF/Net income Full definition →	1.83	1.14	(6.54)	0.03	0.75	0.22	0.21	0.14	0.37	4.56
Capex/Depreciation Full definition →	(3.52)	(3.29)	(2.41)	(1.18)	(0.63)	(0.32)	(0.14)	(0.42)	(1.99)	(6.73)
Interest Coverage Full definition →	13.41	101.34	(9.74)	(9.02)	(8.67)	(10.10)	(9.34)	(4.39)	(10.39)	(15.61)
ROE Full definition →	15.90%	26.38%	(0.65%)	(21.91%)	(21.19%)	(20.34%)	(30.23%)	(28.06%)	(84.12%)	(7.94%)
ROA Full definition →	10.48%	19.08%	(0.47%)	(14.15%)	(12.34%)	(11.58%)	(15.39%)	(14.06%)	(39.89%)	(4.46%)
ROIC Full definition →	6.58%	18.19%	(1.87%)	(8.93%)	(7.98%)	(9.96%)	(12.11%)	(10.94%)	(15.35%)	(5.27%)
Return on Tangible Assets Full definition →	12.92%	20.72%	(0.61%)	(18.88%)	(16.28%)	(16.50%)	(26.06%)	(20.05%)	(53.29%)	(4.81%)
Average Days of Receivables Full definition →	69.67	57.14	41.67	66.27	66.96	82.71	100.21	80.62	170.96	195.75
Research and Development Expense of Revenue Full definition →	12.19%	9.25%	18.66%	22.74%	18.49%	19.48%	16.27%	16.53%	22.04%	18.76%
Selling, General and Administrative Expense of Revenue Full definition →	12.33%	11.50%	18.18%	27.01%	23.86%	25.17%	25.30%	29.54%	31.18%	23.26%
Intangible Assets out of Total Assets Full definition →	0.01	0.01	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.01
Share Based Compensation of Revenue Full definition →	1.47%	2.04%	4.16%	6.18%	5.56%	5.73%	4.31%	5.46%	5.93%	2.57%
Graham Net Nets Full definition →	0.16	0.15	0.19	0.00	0.03	(0.04)	(0.77)	0.00	(0.01)	0.12
Graham Number Full definition →	23.14	38.98	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Yield Full definition →	7.79%	10.21%	(0.65%)	(27.78%)	(31.84%)	(39.30%)	(126.06%)	(9.52%)	(11.61%)	(1.86%)
Free Cash Flow Yield Full definition →	1.79%	2.35%	(19.00%)	(13.14%)	(32.28%)	(14.44%)	(33.10%)	(2.92%)	(7.41%)	(16.87%)
Revenue per Share Full definition →	15.16	20.02	13.61	9.55	10.73	7.86	8.00	6.81	6.00	7.57
Operating CF per Share Full definition →	3.32	4.41	0.71	(0.09)	(2.01)	(0.43)	(0.50)	(0.25)	(1.67)	(2.90)
Capex per Share Full definition →	(2.91)	(3.52)	(3.65)	(1.47)	(0.73)	(0.31)	(0.12)	(0.30)	(1.06)	(2.98)
Free Cash Flow per Share Full definition →	0.41	0.89	(2.93)	(1.56)	(2.75)	(0.74)	(0.62)	(0.55)	(2.73)	(5.88)
Cash per Share Full definition →	3.02	4.40	2.95	3.35	2.29	1.53	1.28	1.72	1.91	3.59
Shareholders Equity per Share Full definition →	13.22	17.45	16.75	13.70	12.71	9.46	6.63	6.73	5.52	12.19
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	13.22	17.45	16.75	13.70	12.71	9.46	6.63	6.73	5.52	12.19
Free Cash Flow Full definition →	7.13	16.99	(57.60)	(31.18)	(60.08)	(19.97)	(17.33)	(17.46)	(113.43)	(353.95)
Working Capital Full definition →	97.58	158.95	116.86	101.45	106.02	85.12	44.58	79.25	131.20	418.44
Capital Expenditures Full definition →	(49.97)	(67.30)	(71.63)	(29.43)	(16.07)	(8.32)	(3.30)	(9.53)	(43.90)	(179.52)
Net Current Asset Value Full definition →	62.62	109.99	56.53	(0.23)	6.26	(5.81)	(40.43)	(1.71)	(16.65)	241.22
EV/EBIT Full definition →	17.42	8.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.19	0.18	0.27	0.15	0.07	0.04	0.01	0.04	0.18	0.39
Price to Operating Income Full definition →	17.26	8.33	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	0.10	0.10	0.13	0.10	0.10	0.11	0.11	0.11	0.10	0.07
Cash ROIC Full definition →	2.21%	3.64%	(12.11%)	(6.56%)	(12.44%)	(4.55%)	(4.61%)	(5.04%)	(25.37%)	(32.78%)
Accounts Receivable Turnover Full definition →	5.89	6.98	5.92	5.86	6.04	4.65	4.08	3.98	3.03	2.52
Accounts Payable Turnover Full definition →	5.34	5.40	4.89	4.61	5.91	5.44	4.60	3.93	2.72	2.56
Inventory Turnover Full definition →	2.94	3.39	2.13	1.62	1.88	1.71	2.20	2.21	2.47	2.35
Average Days of Payables Full definition →	76.41	73.70	60.75	82.82	58.46	72.23	92.31	75.64	204.27	164.79
Days of Inventory on Hand Full definition →	108.85	128.00	189.43	214.52	218.90	194.24	153.72	146.86	171.51	209.64
Average Receivables Full definition →	44.27	54.81	45.19	32.59	38.85	45.49	54.56	54.62	82.44	180.60
Average Payables Full definition →	32.52	40.00	36.77	31.37	31.16	31.94	41.12	40.37	68.93	124.45
Average Inventory Full definition →	59.03	63.79	84.51	89.14	97.71	101.46	86.10	71.77	76.00	135.62
Average Assets Full definition →	297.90	387.63	459.89	466.83	473.82	467.63	431.36	398.72	468.11	857.73
Average Common Equity Full definition →	196.39	280.33	331.19	301.44	275.84	266.23	219.62	199.77	221.99	481.51

Fold the line items

Columns are period end dates

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