AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over GTM overall, supported by stronger fundamentals and stronger modeled upside.
GTM
ZoomInfo Technologies Inc.
GTM has lower modeled downside risk, despite its lower overall score.
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.
GTM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Healthy | |
| Under pressure |
GTM's cash flow is currently healthy, and its revenue is stable, but its profitability and balance sheet are 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.
GTM PE Valuation
GTM has no meaningful PE right now: it lost money over the past year.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over GTM on the outlook, with more favorable earnings and revenue expectations.
GTM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect GTM's profitability to improve, with its earnings and revenue 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.
GTM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.11 | — |
| Q3 2026 | -$1.97 | -735% |
| Q2 2026 | -$1.86 | -815% |
| Q1 2026 | $0.40 | +233% |
| Q4 2025 | $0.38 | +375% |
| Q3 2025 | $0.31 | +933% |
| Q2 2025 | $0.26 | +550% |
| Q1 2025 | $0.12 | -40% |
| Q4 2024 | $0.08 | -70% |
GTM has swung to a loss: it lost $1.97 per share over the past year, after a profit the year before.
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 GTM 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.
GTM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $308.8M | -2.9% |
| Q2 2026 | $310.4M | +1.2% |
| Q1 2026 | $310.2M | +1.5% |
| Q4 2025 | $319.1M | +3.2% |
| Q3 2025 | $318M | +4.7% |
| Q2 2025 | $306.7M | +5.2% |
| Q1 2025 | $305.7M | -1.4% |
| Q4 2024 | $309.1M | -2.3% |
GTM's revenue grew through 2023 and has held roughly level since: $309M last quarter, down 2.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.6% | -14 points |
| Q2 2026 | -200% | -218 points |
| Q1 2026 | 19% | +2.2 points |
| Q4 2025 | 17% | +7 points |
| Q3 2025 | 21% | +6.9 points |
| Q2 2025 | 18% | +24 points |
| Q1 2025 | 16% | +2.6 points |
| Q4 2024 | 10% | -12 points |
GTM 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.
GTM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $33.8M | -52% |
| Q2 2026 | $69.7M | -20% |
| Q1 2026 | $90.6M | -13% |
| Q4 2025 | $127.1M | +48% |
| Q3 2025 | $70.9M | +11717% |
| Q2 2025 | $86.9M | -25% |
| Q1 2025 | $104.4M | +1.3% |
| Q4 2024 | $85.6M | -29% |
GTM 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.
GTM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1.6M shares |
| 1 year | -7.6% | -24.1M shares |
| 3 years | -25% | -96.9M shares |
| 5 years | +11% | +28.9M shares |
| Available history | +95% | +143M shares |
GTM has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.2M |
| Q2 2026 | $31.5M |
| Q1 2026 | $90.9M |
| Q4 2025 | $79.8M |
| Q3 2025 | $87M |
| Q2 2025 | $149.3M |
| Q1 2025 | $95M |
| Q4 2024 | $23M |
GTM spent $210M buying back its own shares over the past year, down 41% 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.
GTM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 3.7x | Elevated |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 4.3x | High |
| Q1 2025 | 5.7x | High |
| Q4 2024 | 5.9x | High |
| Q3 2024 | 4.9x | High |
| Q2 2024 | 3.6x | Elevated |
GTM's net debt is about 3.6 years of its operating earnings (EBITDA), down from 5.7 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).
GTM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 40.2 | Neutral |
GTM's weekly RSI is 38 (neutral) and its Stochastic is 40 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
GTM PE vs Technology Sector
| Metric | GTM | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
GTM has no meaningful PE right now: it lost money over the past year.
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 the edge over GTM on trend strength, trading above more of its moving averages.
GTM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.83 | 14% below |
| 20 week MA | $3.70 | 11% below |
| 50 week MA | $5.39 | 39% below |
| 100 week MA | $7.77 | 58% below |
| 200 week MA | $12.4 | 73% below |
GTM is in a downtrend: it's below all five of its weekly moving averages, and 73% 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 GTM on returns for 2026, with the stronger performance.
GTM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.9 | $44.8 | +15% |
| 2021 | $44.8 | $65.7 | +47% |
| 2022 | $65.7 | $28.8 | -56% |
| 2023 | $28.8 | $18.5 | -36% |
| 2024 | $18.5 | $10.7 | -42% |
| 2025 | $10.7 | $10.1 | -5.1% |
| 2026 YTD | $10.1 | $3.30 | -67% |
GTM has finished four years in a row lower, and it's down 67% so far in 2026.