Applied Optoelectronics, Inc. (AAOI) vs Belden Inc (BDC)

Applied Optoelectronics, Inc. and Belden Inc are both Communication Equipment companies. Applied Optoelectronics, Inc. is the larger, with a market value of $8.8B against $4.3B — 2.0× the size. Applied Optoelectronics, Inc. has negative trailing earnings, so its P/E is not meaningful; Belden Inc trades at 18.0×. Applied Optoelectronics, Inc. grew revenue faster over the last twelve months: 61.9% against 9.44%. Belden Inc has the higher net margin (8.52% vs −9.57%) and the higher return on invested capital (9.40% vs −2.96%). Across the 18 metrics below, Belden Inc leads on 13 and Applied Optoelectronics, Inc. on 5.

Valuation

Metric AAOI BDC Communication Equipment median
P/E n/m 18.05 33.61
P/S 13.92 1.53 2.16
P/B 4.97 3.16 2.40
Price to free cash flow n/m 19.71 25.02
EV/EBITDA n/m 11.06 13.78
EV/Sales 13.50 1.84 2.27
Earnings yield (0.77%) 5.54% (0.65%)
Free cash flow yield (7.15%) 5.07% 1.61%

Profitability

Metric AAOI BDC Communication Equipment median
Gross margin 28.92% 37.64% 39.47%
Operating margin (11.31%) 11.90% 2.39%
Net margin (9.57%) 8.52% (0.74%)
Free cash flow margin (99.45%) 7.41% 1.39%
Return on equity (5.45%) 18.64% (1.91%)
Return on assets (3.68%) 7.01% (0.20%)
Return on invested capital (2.96%) 9.40% 0.72%

Growth

Metric AAOI BDC Communication Equipment median
Revenue growth (TTM) 61.85% 9.44% 11.48%
EPS growth (last fiscal year) 85.78% 23.13% —
Revenue growth, 5-year CAGR 14.20% 9.16% 4.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AAOI BDC Communication Equipment median
Debt to equity 0.16 0.89 0.06
Current ratio 2.78 2.14 2.01
Net debt to EBITDA 3.09 2.01 0.67

Dividend

Metric AAOI BDC Communication Equipment median
Dividend yield — 0.24% 2.63%
Payout ratio 0.00 0.03 0.00

Size

Metric AAOI BDC Communication Equipment median
Market cap 8.78b 4.33b 563.45m

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