Applied Optoelectronics, Inc. (AAOI) vs Ondas Holdings Inc. (ONDS)

Applied Optoelectronics, Inc. and Ondas Holdings Inc. are both Communication Equipment companies. Applied Optoelectronics, Inc. is the larger, with a market value of $8.8B against $4.5B — 2.0× the size. Ondas Holdings Inc. grew revenue faster over the last twelve months: 979.3% against 61.9%. Ondas Holdings Inc. has the higher net margin (34.1% vs −9.57%) and the lower return on invested capital (−81.8% vs −2.96%). Across the 18 metrics below, Ondas Holdings Inc. leads on 12 and Applied Optoelectronics, Inc. on 6.

Valuation

Metric AAOI ONDS Communication Equipment median
P/E n/m n/m 33.61
P/S 13.92 21.97 2.16
P/B 4.97 2.43 2.40
Price to free cash flow n/m n/m 25.02
EV/EBITDA n/m n/m 13.78
EV/Sales 13.50 14.15 2.27
Earnings yield (0.77%) (0.52%) (0.65%)
Free cash flow yield (7.15%) (4.50%) 1.61%

Profitability

Metric AAOI ONDS Communication Equipment median
Gross margin 28.92% 43.72% 39.47%
Operating margin (11.31%) (140.40%) 2.39%
Net margin (9.57%) 34.08% (0.74%)
Free cash flow margin (99.45%) (98.75%) 1.39%
Return on equity (5.45%) 7.12% (1.91%)
Return on assets (3.68%) 3.77% (0.20%)
Return on invested capital (2.96%) (81.81%) 0.72%

Growth

Metric AAOI ONDS Communication Equipment median
Revenue growth (TTM) 61.85% 979.31% 11.48%
EPS growth (last fiscal year) 85.78% (1.64%) —
Revenue growth, 5-year CAGR 14.20% 87.94% 4.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AAOI ONDS Communication Equipment median
Debt to equity 0.16 0.00 0.06
Current ratio 2.78 9.85 2.01
Net debt to EBITDA 3.09 13.45 0.67

Dividend

Metric AAOI ONDS Communication Equipment median
Dividend yield — — 2.63%
Payout ratio 0.00 0.00 0.00

Size

Metric AAOI ONDS Communication Equipment median
Market cap 8.78b 4.48b 563.45m

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