AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over NSIT overall, supported by stronger valuation and stronger modeled upside.
NSIT
Insight Enterprises, Inc.
NSIT 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.
NSIT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Stable |
NSIT's revenue and profitability are currently healthy, and its balance sheet is stable, but its cash flow is 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.
NSIT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $173 | — |
| Cheap | 14x | $82.00 | -53% |
| Fair | 19x | $110 | -36% |
| Expensive | 25x | $144 | -17% |
| Current | 30x | $173 | — |
Historical ranges are pointers, not guarantees.
NSIT's PE is in its expensive range at 30x. If earnings grow as analysts expect, today's price would be 12x 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.
NSIT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for NSIT, 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.
NSIT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.32 | +145% |
| Q3 2026 | $5.84 | +35% |
| Q2 2026 | $6.72 | +59% |
| Q1 2026 | $5.61 | +12% |
| Q4 2025 | $4.86 | -26% |
| Q3 2025 | $4.32 | -46% |
| Q2 2025 | $4.22 | -48% |
| Q1 2025 | $5.03 | -37% |
| Q4 2024 | $6.55 | -13% |
NSIT 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 NSIT 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.
NSIT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.4B | +22% |
| Q2 2026 | $2.4B | +15% |
| Q1 2026 | $2.1B | +1.2% |
| Q4 2025 | $2B | -1.2% |
| Q3 2025 | $2B | -4% |
| Q2 2025 | $2.1B | -3.2% |
| Q1 2025 | $2.1B | -12% |
| Q4 2024 | $2.1B | -7.3% |
NSIT's revenue is growing: $2.4B last quarter, up 22% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 2.8% | -1.8 points |
| Q2 2026 | 5.5% | +1.3 points |
| Q1 2026 | 3.4% | +0.5 points |
| Q4 2025 | 4.7% | +1.5 points |
| Q3 2025 | 4.6% | +0.2 points |
| Q2 2025 | 4.1% | -1.9 points |
| Q1 2025 | 2.9% | -1.3 points |
| Q4 2024 | 3.1% | -2.8 points |
NSIT 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.
NSIT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $121.3M | -50% |
| Q2 2026 | -$20.1M | +$161.8M |
| Q1 2026 | $26.4M | -63% |
| Q4 2025 | $146.8M | -27% |
| Q3 2025 | $243.5M | +119% |
| Q2 2025 | -$181.9M | -641% |
| Q1 2025 | $70.9M | -71% |
| Q4 2024 | $200.7M | +2.6% |
NSIT 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.
NSIT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.1% | -330K shares |
| 1 year | -5.4% | -1.7M shares |
| 3 years | -20% | -7.4M shares |
| 5 years | -19% | -6.9M shares |
| Available history | -17% | -5.9M shares |
NSIT has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75M |
| Q2 2026 | $75M |
| Q1 2026 | $75M |
| Q4 2025 | — |
| Q3 2025 | $75M |
| Q2 2025 | $76.1M |
| Q1 2025 | — |
| Q4 2024 | — |
NSIT spent $225M buying back its own shares over the past year, up 49% 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.
NSIT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.3x | Moderate |
| Q2 2026 | 2.2x | Moderate |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 2.1x | Moderate |
| Q2 2025 | 2.5x | Moderate |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 1.2x | Healthy |
NSIT's net debt is about 2.3 years of its operating earnings (EBITDA), up from 2.1 years a year ago.
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).
NSIT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.8 | Neutral |
| Stochastic | 71.8 | Neutral |
NSIT's weekly RSI is 66 (neutral) and its Stochastic is 72 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
NSIT PE vs Technology Sector
| Metric | NSIT | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 28x | 6.2% above |
| PE % | 99 | 35 | 64 pts above |
NSIT is trading at 30x earnings, in line with 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.
NSIT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $165.6 | 4.4% above |
| 20 week MA | $150.4 | 15% above |
| 50 week MA | $111.8 | 55% above |
| 100 week MA | $122.9 | 41% above |
| 200 week MA | $145.2 | 19% above |
NSIT 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.
NSIT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $70.8 | $74.6 | +5.3% |
| 2021 | $74.6 | $103.2 | +38% |
| 2022 | $103.2 | $98.4 | -4.7% |
| 2023 | $98.4 | $177.2 | +80% |
| 2024 | $177.2 | $152.1 | -14% |
| 2025 | $152.1 | $83.5 | -45% |
| 2026 YTD | $83.5 | $172.9 | +107% |
NSIT has the edge over AAOI on returns for 2026, with the stronger performance.