Applied Optoelectronics, Inc.

AAOI Technology Communication Equipment

Applied Optoelectronics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $455.7 million, up 82.8% from fiscal 2024.

Revenue
+127.5%
EPS
+125.0%
Free cash flow
+96.1%
Total debt
+69.0%

Quarter to September 2026, against a year earlier

48.51 1.62 +3.45%
Market cap
$4.0B
P/E
0.0×
Fwd P/E
19.6×
Dividend yield
—
F-score
4/9
Altman Z
2.98
Beneish M
−0.51
Dividend safety
n/a

Applied Optoelectronics, Inc. (AAOI) Return on invested capital

Alert me on Return on invested capital

Applied Optoelectronics, Inc.'s return on invested capital over the twelve months to 30 September 2026 was −1.95%, up 3.3 percentage points from fiscal 2025 (−5.27%). Over the past ten years it has ranged from −15.4% (fiscal 2024) to 18.2% (fiscal 2017); the current reading is higher than 64% of that period. That is below the Communication Equipment industry median of 1.29% and below the Technology sector median of 0.00%.

Return on invested capital, annual

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Annual newest first

Period Return on invested capital Change (points)
FY2025 −5.27% 10.08
FY2024 −15.4% (4.41)
FY2023 −10.9% 1.17
FY2022 −12.1% (2.15)
FY2021 −9.96% (1.98)
FY2020 −7.98% 0.95
FY2019 −8.93% (7.06)
FY2018 −1.87% (20.06)
FY2017 18.2% 11.61
FY2016 6.58% 1.28

Against its own ten years

Low −15.4% High 18.2%
Ten-year median −7.98%
Current reading's percentile 64

Return on invested capital against peers

Company Return on invested capital
EXTR Extreme Networks, Inc. compare 107.1%
ZBRA Zebra Technologies Corporation compare 9.57%
DGII Digi International Inc. compare 5.76%
VIAV Viavi Solutions Inc. compare 5.69%
BDC Belden Inc compare 4.33%
VSAT Viasat Inc. compare 0.72%
AAOI Applied Optoelectronics, Inc. −1.95%
ASTS AST SpaceMobile, Inc. compare −12.2%
ONDS Ondas Holdings Inc. compare −81.8%
Communication Equipment industry median 1.29%
Technology sector median 0.00%
Market median 0.00%

What Return on invested capital is

Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.

TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)

The full definition of Return on invested capital →

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