AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
ENTG
Entegris, Inc.
ENTG has the edge over AAOI overall, supported by lower modeled downside and stronger fundamentals.
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.
ENTG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Under pressure |
ENTG's revenue, profitability and cash flow are currently healthy, but its balance sheet is under pressure.
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.
ENTG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 28x | $153 | — |
| Cheap | 33x | $85.56 | -44% |
| Fair | 49x | $127 | -17% |
| Current | 60x | $153 | — |
| Expensive | 86x | $220 | +43% |
Historical ranges are pointers, not guarantees.
ENTG's PE is in its fair range at 60x. If earnings grow as analysts expect, today's price would be 28x next year's earnings, in its cheap range.
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.
ENTG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for ENTG, with profitability improving.
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.
ENTG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.40 | +110% |
| Q3 2026 | $2.57 | +36% |
| Q2 2026 | $2.00 | +3.1% |
| Q1 2026 | $1.74 | -15% |
| Q4 2025 | $1.55 | -20% |
| Q3 2025 | $1.89 | +25% |
| Q2 2025 | $1.94 | +59% |
| Q1 2025 | $2.04 | -1.9% |
| Q4 2024 | $1.93 | +62% |
ENTG 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 ENTG 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.
ENTG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1B | +25% |
| Q2 2026 | $883.2M | +11% |
| Q1 2026 | $811.9M | +5% |
| Q4 2025 | $823.9M | -3.1% |
| Q3 2025 | $807.1M | -0.1% |
| Q2 2025 | $792.4M | -2.5% |
| Q1 2025 | $773.2M | +0.3% |
| Q4 2024 | $849.8M | +4.6% |
ENTG's revenue is growing: $1B last quarter, up 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +7.7 points |
| Q2 2026 | 19% | +5.3 points |
| Q1 2026 | 17% | +1.6 points |
| Q4 2025 | 13% | -4.9 points |
| Q3 2025 | 15% | -1.7 points |
| Q2 2025 | 13% | -2.6 points |
| Q1 2025 | 16% | +0.6 points |
| Q4 2024 | 18% | +5.2 points |
ENTG 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.
ENTG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $223.6M | +22% |
| Q2 2026 | $116.9M | +149% |
| Q1 2026 | $141.5M | +337% |
| Q4 2025 | $134M | +95% |
| Q3 2025 | $182.8M | +59% |
| Q2 2025 | $47M | -9.5% |
| Q1 2025 | $32.4M | -60% |
| Q4 2024 | $68.6M | +212% |
ENTG 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.
ENTG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +300K shares |
| 1 year | +1.1% | +1.6M shares |
| 3 years | +1.8% | +2.7M shares |
| 5 years | +13% | +17.3M shares |
| Available history | +13% | +17.3M shares |
ENTG has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | $17.1M |
| Q3 2021 | $20M |
| Q2 2021 | $15M |
| Q1 2021 | $15M |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
ENTG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.6x | Elevated |
| Q2 2026 | 4.4x | High |
| Q1 2026 | 4.8x | High |
| Q4 2025 | 5.1x | High |
| Q3 2025 | 4.6x | High |
| Q2 2025 | 4.5x | High |
| Q1 2025 | 4.2x | High |
| Q4 2024 | 4.0x | Elevated |
ENTG's net debt is about 3.6 years of its operating earnings (EBITDA), down from 4.6 years a year ago.
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).
ENTG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.3 | Neutral |
| Stochastic | 53.5 | Neutral |
ENTG's weekly RSI is 53 (neutral) and its Stochastic is 54 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
ENTG PE vs Technology Sector
| Metric | ENTG | Sector median | Relative |
|---|---|---|---|
| PE | 60x | 28x | 114% above |
| PE % | 63 | 35 | 28 pts above |
ENTG is trading at 60x earnings, a 114% 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 fallen below most of its moving averages, though it's still 43% above its 200-week average.
ENTG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $149.1 | 2.7% above |
| 20 week MA | $144.3 | 6.2% above |
| 50 week MA | $132.4 | 16% above |
| 100 week MA | $109.9 | 39% above |
| 200 week MA | $109.1 | 40% above |
ENTG 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's yearly returns have swung widely, from +891% in 2023 to −65% in 2022. It's up 42% so far in 2026.
ENTG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $50.6 | $96.3 | +90% |
| 2021 | $96.3 | $136.8 | +42% |
| 2022 | $136.8 | $65.5 | -52% |
| 2023 | $65.5 | $119.8 | +83% |
| 2024 | $119.8 | $101.8 | -15% |
| 2025 | $101.8 | $86.3 | -15% |
| 2026 YTD | $86.3 | $153.2 | +78% |
ENTG has the edge over AAOI on returns for 2026, with the stronger performance.