AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over LFUS overall, supported by stronger valuation and stronger modeled upside.
LFUS
Littelfuse, Inc.
LFUS 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.
LFUS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Strong |
LFUS's revenue, cash flow and balance sheet are currently healthy, and its profitability 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.
LFUS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $397 | — |
| Cheap | 19x | $23.29 | -94% |
| Fair | 29x | $36.08 | -91% |
| Expensive | 56x | $69.13 | -83% |
| Current | 322x | $397 | — |
Historical ranges are pointers, not guarantees.
LFUS's PE is in its expensive range at 322x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap 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.
LFUS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for LFUS, 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.
LFUS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $21.86 | +1678% |
| Q3 2026 | $1.23 | -74% |
| Q2 2026 | -$0.49 | -111% |
| Q1 2026 | -$1.68 | -144% |
| Q4 2025 | -$2.89 | -172% |
| Q3 2025 | $4.75 | -39% |
| Q2 2025 | $4.30 | -45% |
| Q1 2025 | $3.82 | -56% |
| Q4 2024 | $4.00 | -61% |
LFUS 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 LFUS 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.
LFUS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $766.7M | +23% |
| Q2 2026 | $738.8M | +20% |
| Q1 2026 | $657M | +19% |
| Q4 2025 | $593.9M | +12% |
| Q3 2025 | $624.6M | +10% |
| Q2 2025 | $613.4M | +9.8% |
| Q1 2025 | $554.3M | +3.5% |
| Q4 2024 | $529.5M | -0.8% |
LFUS's revenue has grown year over year for seven quarters in a row: $767M last quarter, up 23% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +4.4 points |
| Q2 2026 | 16% | +1.1 points |
| Q1 2026 | 15% | +2.7 points |
| Q4 2025 | -38% | -28 points |
| Q3 2025 | 16% | +0.1 points |
| Q2 2025 | 15% | +3.4 points |
| Q1 2025 | 13% | +2.4 points |
| Q4 2024 | -9.3% | -21 points |
LFUS 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.
LFUS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $215.7M | +64% |
| Q2 2026 | $127.3M | +75% |
| Q1 2026 | $66.2M | +55% |
| Q4 2025 | $119.7M | -11% |
| Q3 2025 | $131.2M | +102% |
| Q2 2025 | $72.6M | +44% |
| Q1 2025 | $42.7M | +2.5% |
| Q4 2024 | $134.8M | +11% |
LFUS 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.
LFUS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +54K shares |
| 1 year | +2.3% | +572K shares |
| 3 years | +2.1% | +531K shares |
| 5 years | +3% | +748K shares |
| Available history | +3.4% | +856K shares |
LFUS has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $179,000 |
| Q1 2025 | $27.4M |
| Q4 2024 | — |
LFUS 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.
LFUS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | 0.0x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.5x | Very low |
LFUS 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).
LFUS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.2 | Neutral |
| Stochastic | 29.6 | Neutral |
LFUS's weekly RSI is 49 (neutral) and its Stochastic is 30 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LFUS PE vs Technology Sector
| Metric | LFUS | Sector median | Relative |
|---|---|---|---|
| PE | 322x | 28x | 1,057% above |
| PE % | 100 | 35 | 65 pts above |
LFUS is trading at 322x earnings, a 1057% 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.
LFUS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $398.7 | 0.5% below |
| 20 week MA | $413.0 | 4% below |
| 50 week MA | $381.8 | 3.9% above |
| 100 week MA | $306.1 | 30% above |
| 200 week MA | $280.0 | 42% above |
LFUS 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.
LFUS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $192.0 | $251.7 | +31% |
| 2021 | $251.7 | $304.3 | +21% |
| 2022 | $304.3 | $218.6 | -28% |
| 2023 | $218.6 | $267.6 | +22% |
| 2024 | $267.6 | $237.0 | -11% |
| 2025 | $237.0 | $262.1 | +11% |
| 2026 YTD | $262.1 | $396.6 | +51% |
LFUS has the edge over AAOI on returns for 2026, with the stronger performance.