AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
INFY
Infosys Limited
INFY 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.
INFY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
INFY's profitability, cash flow and balance sheet are currently healthy, and its revenue 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.
INFY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 15x | $12.29 | — |
| Cheap | 19x | $15.68 | +28% |
| Fair | 25x | $20.29 | +65% |
| Expensive | 31x | $25.44 | +107% |
Historical ranges are pointers, not guarantees.
INFY's PE is in its cheap range at 15x.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over INFY on the outlook, with more favorable earnings and revenue expectations.
INFY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect INFY's earnings, revenue and profitability to hold roughly 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.
INFY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.81 | +3.8% |
| Q2 2026 | $0.81 | +5.2% |
| Q1 2026 | $0.80 | +5.3% |
| Q4 2025 | $0.77 | -2.5% |
| Q3 2025 | $0.78 | 0% |
| Q2 2025 | $0.77 | 0% |
| Q1 2025 | $0.76 | 0% |
| Q4 2024 | $0.79 | +11% |
INFY 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 INFY 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.
INFY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.2B | +1.5% |
| Q2 2026 | $5.1B | +2.9% |
| Q1 2026 | $5B | +6.6% |
| Q4 2025 | $5.1B | +3.2% |
| Q3 2025 | $5.1B | +3.7% |
| Q2 2025 | $4.9B | +4.8% |
| Q1 2025 | $4.7B | +3.6% |
| Q4 2024 | $4.9B | +5.9% |
INFY's revenue has grown year over year every quarter since late 2020: $5.2B last quarter, up 1.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +0.3 points |
| Q2 2026 | 21% | +0.3 points |
| Q1 2026 | 21% | 0 points |
| Q4 2025 | 18% | -2.9 points |
| Q3 2025 | 21% | -0.1 points |
| Q2 2025 | 21% | -0.3 points |
| Q1 2025 | 21% | +0.9 points |
| Q4 2024 | 21% | +0.8 points |
INFY 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.
INFY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $947.4M | -14% |
| Q2 2026 | $970M | +9.7% |
| Q1 2026 | $833M | -6.6% |
| Q4 2025 | $915M | -29% |
| Q3 2025 | $1.1B | +27% |
| Q2 2025 | $884M | -19% |
| Q1 2025 | $892M | +5.2% |
| Q4 2024 | $1.3B | +95% |
INFY 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.
INFY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -40.7M shares |
| 1 year | -4.8% | -204M shares |
| 3 years | -2.1% | -88.5M shares |
| 5 years | -6% | -257M shares |
| Available history | -2.9% | -119M shares |
INFY has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $1M |
| Q4 2025 | $2B |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
INFY spent $2B buying back its own shares over the past year, after none 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.
INFY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.3x | Net Cash |
| Q3 2025 | -0.5x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.4x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
INFY 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).
INFY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.7 | Neutral |
| Stochastic | 73.2 | Neutral |
INFY's weekly RSI is 51 (neutral) and its Stochastic is 73 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
INFY PE vs Technology Sector
| Metric | INFY | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 28x | 46% below |
| PE % | 6 | 35 | 29 pts below |
INFY is trading at 15x earnings, a 46% discount 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.
INFY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.8 | 4.3% above |
| 20 week MA | $11.7 | 5.4% above |
| 50 week MA | $13.5 | 9% below |
| 100 week MA | $15.9 | 23% below |
| 200 week MA | $17.3 | 29% below |
INFY 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 INFY on returns for 2026, with the stronger performance.
INFY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.3 | $16.6 | +62% |
| 2021 | $16.6 | $24.7 | +49% |
| 2022 | $24.7 | $17.9 | -28% |
| 2023 | $17.9 | $18.4 | +2.6% |
| 2024 | $18.4 | $22.5 | +22% |
| 2025 | $22.5 | $18.8 | -16% |
| 2026 YTD | $18.8 | $12.3 | -35% |
INFY is down 35% so far in 2026, after finishing higher in four of the previous six years.