AAOI
Applied Optoelectronics, Inc.
AAOI's outlook is improving, though it still trails on the overall score.
MPWR
Monolithic Power Systems, Inc.
MPWR has the 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.
MPWR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Strong |
MPWR's revenue, profitability, cash flow and balance sheet are all currently healthy.
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.
MPWR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 34x | $1,447 | — |
| Cheap | 45x | $808 | -44% |
| Fair | 77x | $1,400 | -3.3% |
| Current | 80x | $1,447 | — |
| Expensive | 105x | $1,910 | +32% |
Historical ranges are pointers, not guarantees.
MPWR's PE is in its fair range at 80x. If earnings grow as analysts expect, today's price would be 34x 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.
MPWR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for MPWR, 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.
MPWR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $42.12 | +132% |
| Q3 2026 | $18.15 | -53% |
| Q2 2026 | $16.35 | -57% |
| Q1 2026 | $13.91 | -63% |
| Q4 2025 | $12.78 | -65% |
| Q3 2025 | $38.98 | +339% |
| Q2 2025 | $38.22 | +355% |
| Q1 2025 | $37.49 | +347% |
| Q4 2024 | $36.59 | +318% |
MPWR 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 MPWR on sales, with stronger typical year-over-year growth.
| 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.
MPWR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +63% |
| Q2 2026 | $980.6M | +48% |
| Q1 2026 | $804.2M | +26% |
| Q4 2025 | $751.2M | +21% |
| Q3 2025 | $737.2M | +19% |
| Q2 2025 | $664.6M | +31% |
| Q1 2025 | $637.6M | +39% |
| Q4 2024 | $621.7M | +37% |
MPWR's revenue has grown year over year for 11 quarters in a row: $1.2B last quarter, up 63% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | +3.3 points |
| Q2 2026 | 31% | +6.2 points |
| Q1 2026 | 30% | +3.5 points |
| Q4 2025 | 27% | +0.4 points |
| Q3 2025 | 26% | 0 points |
| Q2 2025 | 25% | +1.8 points |
| Q1 2025 | 26% | +5.6 points |
| Q4 2024 | 26% | +2.1 points |
MPWR 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.
MPWR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $220.6M | +12% |
| Q2 2026 | $145.5M | -23% |
| Q1 2026 | $179.4M | -17% |
| Q4 2025 | $63.9M | -38% |
| Q3 2025 | $196.8M | -0.6% |
| Q2 2025 | $189.5M | +73% |
| Q1 2025 | $216M | -6.9% |
| Q4 2024 | $102.9M | -26% |
MPWR 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.
MPWR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -76K shares |
| 1 year | +2.4% | +1.1M shares |
| 3 years | +0.8% | +392K shares |
| 5 years | +2.8% | +1.3M shares |
| Available history | +5.8% | +2.7M shares |
MPWR has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $453.4M |
| Q4 2025 | $1.9M |
| Q3 2025 | $2.1M |
| Q2 2025 | $2.6M |
| Q1 2025 | — |
| Q4 2024 | $622.1M |
| Q3 2024 | $5.5M |
| Q2 2024 | $4.6M |
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
MPWR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.5x | Net Cash |
| Q2 2026 | -1.0x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.1x | Net Cash |
| Q1 2025 | -1.0x | Net Cash |
| Q4 2024 | -1.2x | Net Cash |
MPWR 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).
MPWR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.1 | Neutral |
| Stochastic | 40.0 | Neutral |
MPWR's weekly RSI is 57 (neutral) and its Stochastic is 40 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
MPWR PE vs Technology Sector
| Metric | MPWR | Sector median | Relative |
|---|---|---|---|
| PE | 80x | 28x | 186% above |
| PE % | 53 | 35 | 18 pts above |
MPWR is trading at 80x earnings, a 186% 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.
MPWR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,299.2 | 11% above |
| 20 week MA | $1,307.9 | 11% above |
| 50 week MA | $1,268.3 | 14% above |
| 100 week MA | $1,001.6 | 45% above |
| 200 week MA | $812.9 | 78% above |
MPWR 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.
MPWR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $178.4 | $357.1 | +100% |
| 2021 | $357.1 | $495.6 | +39% |
| 2022 | $495.6 | $350.6 | -29% |
| 2023 | $350.6 | $630.8 | +80% |
| 2024 | $630.8 | $612.7 | -2.9% |
| 2025 | $612.7 | $946.3 | +54% |
| 2026 YTD | $946.3 | $1,447.4 | +53% |
MPWR has the edge over AAOI on returns for 2026, with the stronger performance.