AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over LGL overall, supported by stronger fundamentals and stronger modeled upside.
LGL
The LGL Group, Inc.
LGL 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.
LGL Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Under pressure | |
| Healthy |
LGL's revenue and balance sheet are currently healthy, but its profitability and cash flow 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.
LGL PE Valuation
LGL 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 LGL on the outlook, with more favorable revenue expectations.
LGL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Decline | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect LGL's earnings to grow and its profitability to improve, but its revenue to decline.
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.
LGL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.30 | — |
| Q3 2026 | -$0.16 | -194% |
| Q2 2026 | -$0.02 | -150% |
| Q1 2026 | $0.03 | -57% |
| Q4 2025 | $0.13 | +86% |
| Q3 2025 | $0.17 | +240% |
| Q2 2025 | $0.04 | -33% |
| Q1 2025 | $0.07 | +250% |
| Q4 2024 | $0.07 | +40% |
LGL has swung to a loss: it lost $0.16 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 LGL 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.
LGL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5M | +32% |
| Q2 2026 | $1.2M | +25% |
| Q1 2026 | $1.1M | +18% |
| Q4 2025 | $1.2M | +5.4% |
| Q3 2025 | $1.1M | -6% |
| Q2 2025 | $924K | -13% |
| Q1 2025 | $918K | +3.4% |
| Q4 2024 | $1.2M | +16% |
LGL's revenue is recovering but still below its 2019 peak: $1M last quarter, up 32% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.7% | -9.1 points |
| Q2 2026 | -39% | -35 points |
| Q1 2026 | -72% | -77 points |
| Q4 2025 | 9.8% | -11 points |
| Q3 2025 | 11% | -0.9 points |
| Q2 2025 | -3.4% | -26 points |
| Q1 2025 | 4.5% | -4.4 points |
| Q4 2024 | 21% | -12 points |
LGL 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.
LGL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1K | -100% |
| Q2 2026 | -$393K | -$203K |
| Q1 2026 | $501K | +47% |
| Q4 2025 | -$355K | -$338K |
| Q3 2025 | $275K | -48% |
| Q2 2025 | -$190K | -194% |
| Q1 2025 | $340K | +113% |
| Q4 2024 | -$17K | +$52K |
LGL 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 the edge over LGL on shareholder dilution, with a more favorable share count trend.
LGL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +71% | +4.5M shares |
| 1 year | +94% | +5.3M shares |
| 3 years | +105% | +5.6M shares |
| 5 years | +106% | +5.6M shares |
| Available history | +120% | +6M shares |
LGL has 11M diluted shares, up 94% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
LGL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2023 | -152.5x | Net Cash |
| Q4 2022 | -25.9x | Net Cash |
| Q3 2022 | -39.0x | Net Cash |
| Q1 2022 | -204.5x | Net Cash |
| Q3 2021 | -68.3x | Net Cash |
| Q2 2021 | -9.0x | Net Cash |
| Q1 2021 | -15.1x | Net Cash |
| Q4 2020 | -9.3x | Net Cash |
LGL 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).
LGL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.0 | Neutral |
| Stochastic | 23.2 | Neutral |
LGL's weekly RSI is 51 (neutral) and its Stochastic is 23 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LGL PE vs Technology Sector
| Metric | LGL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
LGL 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 fallen below most of its moving averages, though it's still 43% above its 200-week average.
LGL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.82 | 2.5% above |
| 20 week MA | $6.99 | 0% above |
| 50 week MA | $6.88 | 1.6% above |
| 100 week MA | $6.76 | 3.4% above |
| 200 week MA | $6.02 | 16% above |
LGL 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 LGL on returns for 2026, with the stronger performance.
LGL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.84 | $3.76 | -36% |
| 2021 | $3.76 | $4.34 | +15% |
| 2022 | $4.34 | $4.08 | -6% |
| 2023 | $4.08 | $6.14 | +50% |
| 2024 | $6.14 | $5.76 | -6.2% |
| 2025 | $5.76 | $5.77 | +0.2% |
| 2026 YTD | $5.77 | $6.99 | +21% |
LGL has finished lower in three of the last six years. It's up 21% so far in 2026.