AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
INTT
inTEST Corporation
INTT has the edge over AAOI overall, supported by lower modeled downside and stronger modeled upside.
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.
INTT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Under pressure | |
| Strong |
INTT's revenue, profitability and balance sheet are currently healthy, 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.
INTT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $5.07 | -66% |
| Fair | 23x | $7.96 | -46% |
| Forward | 24x | $14.76 | — |
| Current | 42x | $14.76 | — |
| Expensive | 103x | $35.94 | +143% |
Historical ranges are pointers, not guarantees.
INTT's PE is in its expensive range at 42x. If earnings grow as analysts expect, today's price would be 24x next year's earnings, in its fair 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.
INTT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for INTT, 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.
INTT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.63 | +79% |
| Q3 2026 | $0.35 | +$0.54 |
| Q2 2026 | $0.12 | +$0.19 |
| Q1 2026 | $0.04 | +$0.05 |
| Q4 2025 | -$0.21 | -191% |
| Q3 2025 | -$0.19 | -183% |
| Q2 2025 | -$0.07 | -118% |
| Q1 2025 | -$0.01 | -102% |
| Q4 2024 | $0.23 | -71% |
INTT 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 INTT 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.
INTT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $35.1M | +34% |
| Q2 2026 | $35.3M | +26% |
| Q1 2026 | $33.9M | +27% |
| Q4 2025 | $32.8M | -10% |
| Q3 2025 | $26.2M | -13% |
| Q2 2025 | $28.1M | -17% |
| Q1 2025 | $26.6M | -11% |
| Q4 2024 | $36.6M | +31% |
INTT's revenue is growing: $35M last quarter, up 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.8% | +12 points |
| Q2 2026 | 1% | +4.3 points |
| Q1 2026 | 2.8% | +14 points |
| Q4 2025 | 3.9% | -1.8 points |
| Q3 2025 | -4.5% | -6.2 points |
| Q2 2025 | -3.3% | -4.3 points |
| Q1 2025 | -11% | -13 points |
| Q4 2024 | 5.7% | +1.7 points |
INTT 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.
INTT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$637K | -121% |
| Q2 2026 | $5.9M | +$7.1M |
| Q1 2026 | -$4M | -175% |
| Q4 2025 | -$1.6M | -164% |
| Q3 2025 | $3.1M | -18% |
| Q2 2025 | -$1.2M | +$4.3M |
| Q1 2025 | $5.3M | +206% |
| Q4 2024 | $2.4M | -45% |
INTT 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.
INTT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +29.3K shares |
| 1 year | +3.3% | +403K shares |
| 3 years | +3.3% | +399K shares |
| 5 years | +17% | +1.8M shares |
| Available history | +22% | +2.3M shares |
INTT has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q4 2024 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $74,000 |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
INTT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.3x | Net Cash |
| Q2 2026 | -2.0x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -2.2x | Net Cash |
| Q3 2025 | -2.5x | Net Cash |
| Q2 2025 | -2.3x | Net Cash |
| Q1 2025 | -2.3x | Net Cash |
| Q4 2024 | -0.6x | Net Cash |
INTT 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).
INTT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 64.2 | Neutral |
INTT's weekly RSI is 55 (neutral) and its Stochastic is 64 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
INTT PE vs Technology Sector
| Metric | INTT | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 28x | 51% above |
| PE % | 71 | 35 | 36 pts above |
INTT is trading at 42x earnings, a 51% 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.
INTT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.4 | 9.9% above |
| 20 week MA | $13.1 | 13% above |
| 50 week MA | $13.1 | 13% above |
| 100 week MA | $10.3 | 44% above |
| 200 week MA | $11.9 | 24% above |
INTT 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.
INTT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.81 | $6.23 | +7.2% |
| 2021 | $6.23 | $12.7 | +103% |
| 2022 | $12.7 | $10.5 | -17% |
| 2023 | $10.5 | $13.6 | +29% |
| 2024 | $13.6 | $8.73 | -36% |
| 2025 | $8.73 | $7.52 | -14% |
| 2026 YTD | $7.52 | $14.8 | +96% |
INTT has the edge over AAOI on returns for 2026, with the stronger performance.