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.
DSWL
Deswell Industries, Inc.
There isn't enough reported data to score DSWL 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.
DSWL Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Unavailable |
DSWL's profitability is currently healthy. There isn't enough data to rate its revenue, cash flow and balance sheet.
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.
DSWL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.4x | $2.97 | -1.8% |
| Current | 4.5x | $3.02 | — |
| Fair | 5.9x | $3.95 | +31% |
| Expensive | 14x | $9.11 | +201% |
Historical ranges are pointers, not guarantees.
DSWL's PE is 4.5x, 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 |
Analysts expect AAOI to return to profit, with revenue growing. However, they disagree widely on these estimates.
DSWL Forward outlook
There aren't enough analyst estimates for DSWL to show an outlook.
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.
DSWL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q1 2026 | $0.67 | -4.3% |
| Q1 2025 | $0.70 | +46% |
| Q1 2024 | $0.48 | +269% |
| Q1 2023 | $0.13 | -75% |
| Q1 2022 | $0.51 | 0% |
| Q1 2021 | $0.51 | +$0.59 |
| Q1 2020 | -$0.08 | -130% |
| Q1 2019 | $0.27 | -31% |
DSWL 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 DSWL 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.
DSWL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $61.3M | -9.3% |
| Q1 2025 | $67.6M | -2.5% |
| Q1 2024 | $69.4M | -10% |
| Q1 2023 | $77.3M | -10% |
| Q1 2022 | $86M | +33% |
| Q1 2021 | $64.9M | -0.7% |
| Q1 2020 | $65.4M | -1.8% |
| Q1 2019 | $66.6M | +9.7% |
DSWL's revenue fell from its 2022 peak and has held roughly level since: $61M last quarter, down 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2026 | 3.2% | 0 points |
| Q1 2025 | 4.9% | -0.1 points |
| Q1 2024 | 5.5% | +3.3 points |
| Q1 2023 | 3.7% | +2.9 points |
| Q1 2022 | 3.2% | +0.2 points |
| Q1 2021 | 5% | +9.8 points |
| Q1 2020 | 2.2% | +14 points |
| Q1 2019 | 0.8% | +13 points |
DSWL's operating margin was 3.2% last quarter, about level with the same quarter a year ago.
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.
DSWL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q1 2026 | $4.7M | -64% |
| Q1 2025 | $13.2M | +2.9% |
| Q1 2024 | $12.8M | +5.1% |
| Q1 2023 | $12.2M | +$13.9M |
| Q1 2022 | -$1.7M | -161% |
| Q1 2021 | $2.7M | -78% |
| Q1 2020 | $12.6M | +879% |
| Q1 2019 | $1.3M | -68% |
DSWL generated $43M in free cash flow over the past year, up 187% 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.
DSWL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +16K shares |
| 1 year | -2.4% | -395K shares |
| 3 years | +1.7% | +273K shares |
DSWL has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q1 2017 | $308,000 |
| Q1 2014 | $1.4M |
| Q1 2013 | $1.1M |
| Q1 2011 | — |
| Q3 2010 | — |
| Q1 2009 | — |
| Q3 2008 | — |
| Q1 2008 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
DSWL Net Leverage
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).
DSWL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.9 | Neutral |
| Stochastic | 30.9 | Neutral |
DSWL's weekly RSI is 44 (neutral) and its Stochastic is 31 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
DSWL PE vs Technology Sector
| Metric | DSWL | Sector median | Relative |
|---|---|---|---|
| PE | 4.5x | 28x | 84% below |
| PE % | 19 | 35 | 16 pts below |
DSWL is trading at 4.5x earnings, a 84% 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.
DSWL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.03 | 0.3% below |
| 20 week MA | $3.18 | 5% below |
| 50 week MA | $3.31 | 8.8% below |
| 100 week MA | $3.08 | 1.9% below |
| 200 week MA | $2.80 | 7.9% above |
DSWL has fallen below most of its moving averages, though it's still 7.9% above 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 DSWL on returns for 2026, with the stronger performance.
DSWL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.71 | $2.86 | +5.5% |
| 2021 | $2.86 | $4.00 | +40% |
| 2022 | $4.00 | $3.16 | -21% |
| 2023 | $3.16 | $2.65 | -16% |
| 2024 | $2.65 | $2.51 | -5.3% |
| 2025 | $2.51 | $3.52 | +40% |
| 2026 YTD | $3.52 | $3.02 | -14% |
DSWL has finished lower in three of the last six years. It's down 14% so far in 2026.