AAOI
Applied Optoelectronics, Inc.
AAOI lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve, though they disagree widely on how much.
DLO
DLocal Limited
There isn't enough reported data to score DLO yet.
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.
DLO Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Strong |
DLO's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
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.
DLO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $13.70 | — |
| Current | 18x | $13.70 | — |
| Cheap | 21x | $15.39 | +12% |
| Fair | 31x | $23.27 | +70% |
| Expensive | 83x | $61.08 | +346% |
Historical ranges are pointers, not guarantees.
DLO's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over DLO on the outlook, with more favorable profitability expectations.
DLO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for DLO, with profitability holding 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.
DLO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.02 | +37% |
| Q4 2025 | $0.65 | +67% |
| Q4 2024 | $0.39 | -20% |
| Q4 2023 | $0.49 | +40% |
| Q4 2022 | $0.35 | +40% |
| Q4 2021 | $0.25 | +150% |
DLO has the edge over AAOI in the latest year-over-year earnings comparison.
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 DLO in the latest year-over-year revenue comparison.
| 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.
DLO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +50% |
| Q4 2025 | $337.9M | -55% |
| Q4 2024 | $746M | +15% |
| Q4 2023 | $650.4M | +55% |
| Q4 2022 | $418.9M | +72% |
| Q4 2021 | $244.1M | +604% |
DLO's revenue is growing: $1.1B last quarter, up 74% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | -11 points |
| Q4 2025 | 19% | -12 points |
| Q3 2025 | 21% | -14 points |
| Q4 2024 | 19% | -17 points |
| Q4 2023 | 28% | -2.7 points |
| Q4 2022 | 31% | -7.4 points |
| Q4 2021 | 34% | +27 points |
| Q4 2020 | 36% | N/A |
DLO 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.
DLO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $411.6M | +31% |
| Q4 2025 | $99.8M | +$134.3M |
| Q4 2024 | -$34.5M | -112% |
| Q4 2023 | $292.5M | +91% |
| Q4 2022 | $153.5M | +44% |
| Q4 2021 | $106.5M | +192% |
DLO generated $790M in free cash flow over the past year, up 34% from the year before.
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.
DLO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.2% | -6.8M shares |
| 1 year | -2.6% | -8M shares |
DLO has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $101.1M |
| Q4 2023 | $97.9M |
| Q4 2022 | $2M |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
DLO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.1x | Net Cash |
| Q4 2025 | -2.6x | Net Cash |
| Q4 2024 | -2.4x | Net Cash |
| Q4 2023 | -2.8x | Net Cash |
| Q4 2021 | -3.7x | Net Cash |
| Q4 2020 | -1.3x | Net Cash |
DLO 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).
DLO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 20.3 | Neutral |
DLO's weekly RSI is 48 (neutral) and its Stochastic is 20 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
DLO PE vs Technology Sector
| Metric | DLO | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 28x | 34% below |
| PE % | 5 | 43 | 38 pts below |
DLO is trading at 18x earnings, a 34% discount to the Technology sector's median of 28x, though its earnings don't support one.
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 fallen below most of its moving averages, though it's still 43% above its 200-week average.
DLO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.2 | 3.4% below |
| 20 week MA | $14.5 | 5.8% below |
| 50 week MA | $13.6 | 0.7% above |
| 100 week MA | $12.7 | 8% above |
| 200 week MA | $13.2 | 3.8% above |
DLO has the edge over AAOI on trend strength, trading above more of its moving averages.
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 DLO on returns for 2026, with the stronger performance.
DLO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $34.5 | $35.6 | +3.1% |
| 2022 | $35.6 | $15.1 | -58% |
| 2023 | $15.1 | $17.7 | +17% |
| 2024 | $17.7 | $11.5 | -35% |
| 2025 | $11.5 | $14.1 | +23% |
| 2026 YTD | $14.1 | $13.7 | -2.9% |
DLO has finished higher in three of the last five years. It's down 2.9% so far in 2026.