AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
LOGI
Logitech International S.A.
LOGI has a slight edge over AAOI overall, supported by lower modeled downside and stronger fundamentals.
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.
LOGI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
LOGI's profitability, cash flow and balance sheet are currently strong, 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.
LOGI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $95.32 | -5.3% |
| Current | 18x | $101 | — |
| Forward | 18x | $101 | — |
| Fair | 21x | $119 | +18% |
| Expensive | 27x | $152 | +51% |
Historical ranges are pointers, not guarantees.
LOGI's PE is in its cheap range at 18.1x. On analysts' estimates for next year's earnings, today's price would be 18.4x.
AAOI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
AAOI has the edge over LOGI on the outlook, with more favorable earnings and revenue expectations.
LOGI Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect LOGI'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.
LOGI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.47 | -1.5% |
| Q3 2026 | $5.55 | +26% |
| Q2 2026 | $5.45 | +30% |
| Q1 2026 | $4.80 | +16% |
| Q4 2025 | $4.76 | +12% |
| Q3 2025 | $4.39 | -2.2% |
| Q2 2025 | $4.19 | -4.8% |
| Q1 2025 | $4.13 | +6.7% |
| Q4 2024 | $4.26 | +39% |
LOGI 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 LOGI 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.
LOGI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +2.8% |
| Q2 2026 | $1.2B | +6.9% |
| Q1 2026 | $1.1B | +7.4% |
| Q4 2025 | $1.4B | +6.1% |
| Q3 2025 | $1.2B | +6.3% |
| Q2 2025 | $1.1B | +5.5% |
| Q1 2025 | $1B | -0.1% |
| Q4 2024 | $1.3B | +6.8% |
LOGI's revenue has grown year over year for six quarters in a row: $1.2B last quarter, up 2.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +0.3 points |
| Q2 2026 | 21% | +7 points |
| Q1 2026 | 13% | +2 points |
| Q4 2025 | 20% | +2.6 points |
| Q3 2025 | 16% | +1.7 points |
| Q2 2025 | 14% | 0 points |
| Q1 2025 | 10% | -2.4 points |
| Q4 2024 | 18% | -0.2 points |
LOGI 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.
LOGI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $148.8M | -30% |
| Q2 2026 | $149.9M | +38% |
| Q1 2026 | $189M | +62% |
| Q4 2025 | $465.6M | +31% |
| Q3 2025 | $212.3M | +40% |
| Q2 2025 | $108.8M | -33% |
| Q1 2025 | $116.9M | -49% |
| Q4 2024 | $356.6M | -17% |
LOGI 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.
LOGI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -1.3M shares |
| 1 year | -3.1% | -4.7M shares |
| 3 years | -9.5% | -15.2M shares |
| 5 years | -16% | -27.6M shares |
| Available history | -15% | -25.9M shares |
LOGI has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $170.8M |
| Q2 2026 | $113.6M |
| Q1 2026 | $279.6M |
| Q4 2025 | $27.1M |
| Q3 2025 | $106.6M |
| Q2 2025 | $121.7M |
| Q1 2025 | $125.5M |
| Q4 2024 | $200.1M |
LOGI spent $591M buying back its own shares over the past year, up 6.7% 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.
LOGI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.6x | Net Cash |
| Q2 2026 | -1.9x | Net Cash |
| Q1 2026 | -2.0x | Net Cash |
| Q4 2025 | -2.2x | Net Cash |
| Q3 2025 | -1.8x | Net Cash |
| Q2 2025 | -2.0x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -2.0x | Net Cash |
LOGI 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).
LOGI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.3 | Neutral |
| Stochastic | 20.4 | Neutral |
LOGI's weekly RSI is 49 (neutral) and its Stochastic is 20 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
LOGI PE vs Technology Sector
| Metric | LOGI | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 28x | 35% below |
| PE % | 23 | 35 | 12 pts below |
LOGI is trading at 18x earnings, a 35% 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.
LOGI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $101.3 | 0.7% below |
| 20 week MA | $101.3 | 0.7% below |
| 50 week MA | $100.4 | 0.2% above |
| 100 week MA | $97.7 | 3% above |
| 200 week MA | $87.7 | 15% above |
LOGI 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 LOGI on returns for 2026, with the stronger performance.
LOGI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $47.1 | $93.0 | +98% |
| 2021 | $93.0 | $84.9 | -8.7% |
| 2022 | $84.9 | $61.6 | -27% |
| 2023 | $61.6 | $95.1 | +54% |
| 2024 | $95.1 | $83.4 | -12% |
| 2025 | $83.4 | $105.3 | +26% |
| 2026 YTD | $105.3 | $100.6 | -4.4% |
LOGI has finished lower in three of the last six years. It's down 4.4% so far in 2026.