AAOI
Applied Optoelectronics, Inc.
AAOI has a slight edge over MNDO overall, supported by stronger modeled upside and stronger valuation.
MNDO
MIND C.T.I. Ltd
MNDO 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.
MNDO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
MNDO'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.
MNDO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.5x | $1.20 | -5.7% |
| Current | 8x | $1.27 | — |
| Fair | 8.3x | $1.33 | +4.8% |
| Expensive | 10x | $1.60 | +26% |
Historical ranges are pointers, not guarantees.
MNDO's PE is in its fair range at 8.0x.
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.
MNDO Forward outlook
There aren't enough analyst estimates for MNDO to show an outlook.
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.
MNDO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.16 | +6.7% |
| Q1 2026 | $0.14 | -22% |
| Q4 2025 | $0.13 | -41% |
| Q3 2025 | $0.14 | -39% |
| Q2 2025 | $0.15 | -40% |
| Q1 2025 | $0.18 | -28% |
| Q4 2024 | $0.22 | -12% |
| Q3 2024 | $0.23 | -4.2% |
MNDO 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 MNDO 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.
MNDO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.6M | -3% |
| Q1 2026 | $5.1M | +1.8% |
| Q4 2025 | $4.9M | -6% |
| Q3 2025 | $4.8M | -7.4% |
| Q2 2025 | $4.8M | -9.9% |
| Q1 2025 | $5M | -13% |
| Q4 2024 | $5.2M | -7.3% |
| Q3 2024 | $5.2M | -1.1% |
MNDO's revenue fell from its 2021 peak and has held roughly level since: $5M last quarter, down 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 15% | +9.4 points |
| Q1 2026 | 18% | +11 points |
| Q4 2025 | 17% | -8.9 points |
| Q3 2025 | 13% | -0.9 points |
| Q2 2025 | 5.6% | -15 points |
| Q1 2025 | 7.4% | -14 points |
| Q4 2024 | 25% | +4.8 points |
| Q3 2024 | 14% | -8.8 points |
MNDO 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.
MNDO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $141.7K | -85% |
| Q1 2026 | $606K | -11% |
| Q4 2025 | $1.2M | +295% |
| Q3 2025 | $1.2M | +22% |
| Q2 2025 | $916K | -54% |
| Q1 2025 | $680K | -22% |
| Q4 2024 | $305K | -56% |
| Q3 2024 | $947K | -2.2% |
MNDO 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.
MNDO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -220K shares |
| 1 year | -2.3% | -470K shares |
| 3 years | -1.1% | -234K shares |
| 5 years | +0.1% | +14K shares |
| Available history | +1.1% | +211K shares |
MNDO has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $363,907 |
| Q1 2026 | $191,999 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
MNDO spent $555,906 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.
MNDO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.8x | Net Cash |
| Q4 2025 | -2.4x | Net Cash |
| Q3 2025 | -1.2x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.6x | Net Cash |
| Q4 2024 | -0.7x | Net Cash |
| Q3 2024 | -0.4x | Net Cash |
MNDO 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).
MNDO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.8 | Neutral |
| Stochastic | 37.1 | Neutral |
MNDO's weekly RSI is 68 (neutral) and its Stochastic is 37 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
MNDO PE vs Technology Sector
| Metric | MNDO | Sector median | Relative |
|---|---|---|---|
| PE | 8x | 28x | 71% below |
| PE % | 41 | 35 | 6 pts above |
MNDO is trading at 8.0x earnings, a 71% 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.
MNDO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.98 | 30% above |
| 20 week MA | $1.00 | 27% above |
| 50 week MA | $1.07 | 19% above |
| 100 week MA | $1.30 | 2.3% below |
| 200 week MA | $1.64 | 23% below |
MNDO 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 MNDO on returns for 2026, with the stronger performance.
MNDO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.44 | $2.59 | +6.1% |
| 2021 | $2.59 | $3.02 | +17% |
| 2022 | $3.02 | $2.14 | -29% |
| 2023 | $2.14 | $1.96 | -8.4% |
| 2024 | $1.96 | $1.98 | +1% |
| 2025 | $1.98 | $1.17 | -41% |
| 2026 YTD | $1.17 | $1.27 | +8.5% |
MNDO has finished lower in three of the last six years. It's up 8.5% so far in 2026.