AAOI
Applied Optoelectronics, Inc.
AAOI's outlook is improving, though it still trails on the overall score.
GRAB
Grab Holdings Limited
GRAB has the edge over AAOI overall, supported by lower modeled downside and stronger valuation.
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.
GRAB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Healthy |
GRAB's revenue and balance sheet are currently healthy, and its profitability is stable, but its cash flow 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.
GRAB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $3.24 | — |
| Current | 23x | $3.24 | — |
| Cheap | 38x | $5.39 | +66% |
| Fair | 63x | $8.83 | +173% |
| Expensive | 251x | $35.19 | +986% |
Historical ranges are pointers, not guarantees.
GRAB's PE is in its cheap range at 23x, but its recent earnings include one-off gains. If earnings grow as analysts expect, today's price would be 22x next year's earnings.
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.
GRAB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for GRAB, 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.
GRAB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.15 | +4.6% |
| Q2 2026 | $0.14 | +367% |
| Q1 2026 | $0.09 | +800% |
| Q4 2025 | $0.07 | +$0.10 |
| Q3 2025 | $0.03 | +$0.06 |
| Q2 2025 | $0.03 | +$0.08 |
| Q1 2025 | $0.01 | +$0.08 |
| Q4 2024 | -$0.03 | +$0.07 |
| Q3 2024 | -$0.03 | +$0.18 |
GRAB 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 GRAB on sales, with stronger typical year-over-year growth.
| 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.
GRAB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $997M | +22% |
| Q1 2026 | $955M | +24% |
| Q4 2025 | $906M | +19% |
| Q3 2025 | $873M | +22% |
| Q2 2025 | $819M | +23% |
| Q1 2025 | $773M | +18% |
| Q4 2024 | $764M | +17% |
| Q3 2024 | $716M | +16% |
GRAB's revenue has grown year over year for 18 quarters in a row: $997M last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 1.9% | -2.8 points |
| Q1 2026 | 7.8% | +5.9 points |
| Q4 2025 | 11% | +9.6 points |
| Q3 2025 | 7.7% | +13 points |
| Q2 2025 | 4.8% | +13 points |
| Q1 2025 | 1.8% | +13 points |
| Q4 2024 | 1.2% | +8.1 points |
| Q3 2024 | -5.3% | +9.8 points |
GRAB 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.
GRAB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $72M | +41% |
| Q1 2026 | -$29M | -151% |
| Q4 2025 | $49M | -78% |
| Q3 2025 | -$159M | -153% |
| Q2 2025 | $51M | -80% |
| Q1 2025 | $57M | +$79M |
| Q4 2024 | $223M | +$277M |
| Q3 2024 | $302M | +1% |
GRAB has the edge over AAOI on cash flow, with more consistent year-over-year improvement.
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.
GRAB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -6.1% | -273M shares |
| 1 year | -1.7% | -72M shares |
| 3 years | +6.9% | +268M shares |
| 5 years | +5.5% | +219M shares |
GRAB has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $400M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $274M |
| Q1 2025 | — |
| Q4 2024 | $37M |
| Q3 2024 | $58M |
GRAB spent $400M buying back its own shares over the past year, up 8.4% 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.
GRAB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.5x | Net Cash |
| Q4 2025 | -2.7x | Net Cash |
| Q3 2025 | -3.7x | Net Cash |
| Q2 2025 | -6.9x | Net Cash |
| Q1 2025 | -14.0x | Net Cash |
| Q4 2024 | -27.1x | Net Cash |
| Q3 2024 | -20.5x | Net Cash |
GRAB 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).
GRAB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.4 | Neutral |
| Stochastic | 36.2 | Neutral |
GRAB's weekly RSI is 47 (neutral) and its Stochastic is 36 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
GRAB PE vs Technology Sector
| Metric | GRAB | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 28x | 16% below |
| PE % | 4 | 39 | 35 pts below |
GRAB is trading at 23x earnings, a 16% discount to the Technology sector's median of 28x, though its recent earnings include one-off gains.
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.
GRAB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.06 | 5.9% above |
| 20 week MA | $3.32 | 2.4% below |
| 50 week MA | $3.78 | 14% below |
| 100 week MA | $4.40 | 26% below |
| 200 week MA | $3.92 | 17% below |
GRAB has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 17% 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 GRAB on returns for 2026, with the stronger performance.
GRAB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.4 | $13.3 | +7.4% |
| 2021 | $13.3 | $7.35 | -45% |
| 2022 | $7.35 | $3.27 | -56% |
| 2023 | $3.27 | $3.37 | +3.1% |
| 2024 | $3.37 | $4.81 | +43% |
| 2025 | $4.81 | $5.15 | +7.1% |
| 2026 YTD | $5.15 | $3.24 | -37% |
GRAB is down 37% so far in 2026, after finishing higher in four of the previous six years.