AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over AUDC overall, supported by stronger valuation and stronger fundamentals.
AUDC
AudioCodes Ltd.
AUDC has lower modeled downside risk, despite its lower overall score.
AAOI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Under pressure | |
| Weak | |
| Unavailable |
AAOI's revenue is currently strong, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
AUDC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Strong |
AUDC's balance sheet is currently strong, and its revenue, profitability and cash flow are stable.
AAOI PE Valuation
AAOI has no meaningful PE right now: it lost money over the past year. If it returns to profit as analysts expect, today's price would be 18x next year's earnings.
AUDC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 14x | $9.10 | — |
| Cheap | 20x | $5.05 | -44% |
| Fair | 28x | $7.11 | -22% |
| Current | 36x | $9.10 | — |
| Expensive | 45x | $11.17 | +23% |
Historical ranges are pointers, not guarantees.
AUDC's PE is in its expensive range at 36x. On analysts' estimates for next year's earnings, today's price would be 14x, in its cheap range.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over AUDC on the outlook, with more favorable earnings and revenue expectations.
AUDC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect AUDC's earnings, revenue and profitability to hold roughly steady.
AAOI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.98 | — |
| Q3 2026 | -$0.42 | +$3.02 |
| Q2 2026 | -$0.77 | +$2.81 |
| Q1 2026 | -$0.65 | +$3.43 |
| Q4 2025 | -$0.64 | +$3.86 |
| Q3 2025 | -$3.44 | -$1.41 |
| Q2 2025 | -$3.58 | -$1.70 |
| Q1 2025 | -$4.08 | -$2.29 |
| Q4 2024 | -$4.50 | -$2.75 |
AAOI is still losing money, but far less than before: $0.42 per share over the past year, against $4.50 at its worst in late 2024.
AUDC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.64 | +156% |
| Q2 2026 | $0.25 | -44% |
| Q1 2026 | $0.25 | -55% |
| Q4 2025 | $0.30 | -40% |
| Q3 2025 | $0.46 | +15% |
| Q2 2025 | $0.45 | 0% |
| Q1 2025 | $0.56 | +56% |
| Q4 2024 | $0.50 | +79% |
| Q3 2024 | $0.40 | +2.6% |
AUDC has the edge over AAOI on earnings quality, reporting a profit while its opponent remains loss making.
AAOI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $269.9M | +127% |
| Q2 2026 | $191.9M | +86% |
| Q1 2026 | $151.1M | +51% |
| Q4 2025 | $134.3M | +34% |
| Q3 2025 | $118.6M | +82% |
| Q2 2025 | $103M | +138% |
| Q1 2025 | $99.9M | +146% |
| Q4 2024 | $100.3M | +66% |
AAOI has the edge over AUDC on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.5% | +15 points |
| Q2 2026 | -13% | +2.6 points |
| Q1 2026 | -8.6% | +0.3 points |
| Q4 2025 | -8.6% | -2.1 points |
| Q3 2025 | -15% | +10 points |
| Q2 2025 | -16% | +45 points |
| Q1 2025 | -8.9% | +44 points |
| Q4 2024 | -6.5% | +1 points |
AAOI's operating margin was −0.5% last quarter, up 15 points from the same quarter a year ago, near the top of its range since 2019.
AUDC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $63M | +3.1% |
| Q1 2026 | $62.1M | +2.9% |
| Q4 2025 | $62.6M | +1.7% |
| Q3 2025 | $61.5M | +2.2% |
| Q2 2025 | $61.1M | +1.3% |
| Q1 2025 | $60.4M | +0.5% |
| Q4 2024 | $61.6M | -3.2% |
| Q3 2024 | $60.2M | -2.2% |
AUDC's revenue grew through 2023 and has held roughly level since: $63M last quarter, up 3.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 5.1% | +0.8 points |
| Q1 2026 | 5.4% | -0.6 points |
| Q4 2025 | 6% | -0.7 points |
| Q3 2025 | 6.6% | -1.5 points |
| Q2 2025 | 4.3% | -3.9 points |
| Q1 2025 | 6% | +0.6 points |
| Q4 2024 | 6.7% | -4.7 points |
| Q3 2024 | 8.1% | -1.3 points |
AUDC has the edge over AAOI on profitability, with a higher operating margin.
AAOI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$369.9M | -$291.2M |
| Q2 2026 | -$265.3M | -$174.4M |
| Q1 2026 | -$143.6M | -$64.3M |
| Q4 2025 | -$104.6M | -$51.6M |
| Q3 2025 | -$78.7M | -$58M |
| Q2 2025 | -$91M | -$86M |
| Q1 2025 | -$79.3M | -$45.1M |
| Q4 2024 | -$53M | -$48.4M |
AAOI has burned cash in almost every quarter: −$883M over the past year, against −$302M the year before.
AUDC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $5.5M | -7.9% |
| Q1 2026 | $11.6M | -3.4% |
| Q4 2025 | $2.5M | -79% |
| Q3 2025 | $2.5M | +5.8% |
| Q2 2025 | $5.9M | +$17.3M |
| Q1 2025 | $12M | +46% |
| Q4 2024 | $11.8M | +37% |
| Q3 2024 | $2.3M | +$4.2M |
AUDC has the edge over AAOI on cash generation, producing positive trailing cash flow while its opponent burns cash.
AAOI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +7.7% | +6.3M shares |
| 1 year | +39% | +24.5M shares |
| 3 years | +168% | +55.1M shares |
| 5 years | +224% | +60.7M shares |
| Available history | +340% | +67.9M shares |
AAOI has 88M diluted shares, up 39% from a year ago.
AUDC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -4.2% | -1.1M shares |
| 1 year | -12% | -3.6M shares |
| 3 years | -22% | -7.2M shares |
| 5 years | -24% | -8.2M shares |
| Available history | -16% | -4.9M shares |
AUDC has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $9.5M |
| Q1 2026 | $13.7M |
| Q4 2025 | $6.1M |
| Q3 2025 | $12.7M |
| Q2 2025 | $6.6M |
| Q1 2025 | $5.2M |
| Q4 2024 | $6M |
| Q3 2024 | $3.6M |
AUDC spent $42M buying back its own shares over the past year, up 96% from the year before.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
AUDC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | 1.2x | Healthy |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -1.3x | Net Cash |
| Q4 2024 | -1.1x | Net Cash |
| Q3 2024 | 0.5x | Very low |
AUDC has more cash than debt.
AAOI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.1 | Neutral |
| Stochastic | 4.8 | Oversold |
AAOI's weekly RSI is 35 (neutral) and its Stochastic is 5 (oversold).
AUDC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.2 | Neutral |
| Stochastic | 41.3 | Neutral |
AUDC's weekly RSI is 45 (neutral) and its Stochastic is 41 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
AUDC PE vs Technology Sector
| Metric | AUDC | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 28x | 28% above |
| PE % | 71 | 35 | 36 pts above |
AUDC is trading at 36x earnings, a 28% premium to the Technology sector's median of 28x.
AAOI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $80.2 | 34% below |
| 20 week MA | $100.6 | 47% below |
| 50 week MA | $100.3 | 47% below |
| 100 week MA | $62.3 | 15% below |
| 200 week MA | $36.9 | 43% above |
AAOI has the edge over AUDC on trend strength, trading above more of its moving averages.
AUDC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.5 | 13% below |
| 20 week MA | $10.1 | 10% below |
| 50 week MA | $9.25 | 1.6% below |
| 100 week MA | $9.48 | 4% below |
| 200 week MA | $10.3 | 12% below |
AUDC is in a downtrend: it's below all five of its weekly moving averages, and 12% below its 200-week average.
AAOI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $11.5 | $8.77 | -24% |
| 2021 | $8.77 | $5.64 | -36% |
| 2022 | $5.64 | $1.95 | -65% |
| 2023 | $1.95 | $19.3 | +891% |
| 2024 | $19.3 | $37.7 | +95% |
| 2025 | $37.7 | $37.2 | -1.5% |
| 2026 YTD | $37.2 | $52.9 | +42% |
AAOI has the edge over AUDC on returns for 2026, with the stronger performance.
AUDC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.2 | $28.6 | +14% |
| 2021 | $28.6 | $34.2 | +20% |
| 2022 | $34.2 | $17.6 | -49% |
| 2023 | $17.6 | $12.1 | -31% |
| 2024 | $12.1 | $9.43 | -22% |
| 2025 | $9.43 | $8.92 | -5.4% |
| 2026 YTD | $8.92 | $9.10 | +2% |
AUDC has finished four years in a row lower, and it's up 2% so far in 2026.