AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over GRVY overall, supported by stronger fundamentals.
GRVY
Gravity Co., Ltd.
GRVY trails on the overall score without a compensating advantage in the available component scores.
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.
GRVY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Strong |
GRVY's revenue, profitability and balance sheet are currently healthy, and its cash flow is 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.
GRVY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.3x | $33.96 | -50% |
| Fair | 7.7x | $49.26 | -27% |
| Current | 11x | $67.41 | — |
| Expensive | 13x | $86.05 | +28% |
Historical ranges are pointers, not guarantees.
GRVY's PE is 11x, 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.
GRVY Forward outlook
There aren't enough analyst estimates for GRVY 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.
GRVY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $6.42 | -15% |
| Q1 2026 | $4.81 | -39% |
| Q4 2025 | $5.12 | -44% |
| Q3 2025 | $6.69 | -26% |
| Q2 2025 | $7.56 | -22% |
| Q1 2020 | $3.17 | -38% |
| Q4 2019 | $4.30 | +27% |
GRVY 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 GRVY 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.
GRVY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $121.3M | +33% |
| Q1 2026 | $85M | +20% |
| Q4 2025 | $58.7M | -38% |
| Q3 2025 | $75.1M | -22% |
| Q2 2025 | $91.3M | -0.9% |
| Q1 2025 | $71M | -21% |
| Q4 2024 | $94M | -6% |
| Q3 2024 | $96.2M | -27% |
GRVY's revenue has held roughly level: $121M last quarter, up 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 17% | +5.4 points |
| Q1 2026 | 10% | -7.7 points |
| Q4 2025 | 11% | -2 points |
| Q3 2025 | 16% | -6 points |
| Q2 2025 | 12% | -0.5 points |
| Q1 2025 | 18% | -4.4 points |
| Q4 2024 | 13% | -6.9 points |
| Q3 2024 | 21% | -0.1 points |
GRVY 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.
GRVY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | $0 |
| Q3 2025 | $0 | $0 |
| Q2 2025 | $0 | $0 |
| Q1 2025 | $0 | $0 |
| Q4 2024 | $0 | $0 |
| Q3 2024 | $0 | $0 |
GRVY's free cash flow has been positive every quarter for seven years: $0 over the past year, against $0 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.
GRVY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | 0% | +100 shares |
| 5 years | 0% | +100 shares |
GRVY has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
GRVY hasn't bought back shares in the past year.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
GRVY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -2.4x | Net Cash |
| Q1 2026 | -2.9x | Net Cash |
| Q4 2025 | -2.8x | Net Cash |
| Q3 2025 | -2.7x | Net Cash |
| Q2 2025 | -2.4x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -2.2x | Net Cash |
| Q3 2024 | -1.9x | Net Cash |
GRVY 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).
GRVY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.9 | Neutral |
| Stochastic | 35.7 | Neutral |
GRVY's weekly RSI is 52 (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.
GRVY PE vs Technology Sector
| Metric | GRVY | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 62% below |
| PE % | 73 | 35 | 38 pts above |
GRVY is trading at 11x earnings, a 62% 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.
GRVY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $67.2 | 0.3% above |
| 20 week MA | $67.6 | 0.2% below |
| 50 week MA | $64.4 | 4.7% above |
| 100 week MA | $62.9 | 7.2% above |
| 200 week MA | $64.8 | 4% above |
GRVY 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 GRVY on returns for 2026, with the stronger performance.
GRVY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.9 | $200.6 | +443% |
| 2021 | $200.6 | $69.7 | -65% |
| 2022 | $69.7 | $39.6 | -43% |
| 2023 | $39.6 | $69.6 | +76% |
| 2024 | $69.6 | $62.8 | -9.7% |
| 2025 | $62.8 | $57.7 | -8.2% |
| 2026 YTD | $57.7 | $67.4 | +17% |
GRVY's yearly returns have swung widely, from +443% in 2020 to −65% in 2021. It's up 17% so far in 2026.