AAOI
Applied Optoelectronics, Inc.
AAOI offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
TRMB
Trimble Inc.
TRMB 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.
TRMB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Strong | |
| Healthy |
TRMB's revenue, cash flow and balance sheet are currently healthy, but its profitability 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.
TRMB PE Valuation
TRMB 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 |
Analysts expect AAOI to return to profit, with revenue growing. However, they disagree widely on these estimates.
TRMB Forward outlook
There aren't enough analyst estimates for TRMB 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 has the edge over TRMB on earnings, with more consistent year-over-year improvement.
TRMB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.69 | -147% |
| Q2 2026 | -$0.48 | -141% |
| Q1 2026 | $1.91 | -69% |
| Q4 2025 | $1.76 | -71% |
| Q3 2025 | $1.46 | -76% |
| Q2 2025 | $1.16 | -81% |
| Q1 2025 | $6.13 | +539% |
| Q4 2024 | $6.09 | +387% |
TRMB has swung to a loss: it lost $0.69 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 TRMB 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.
TRMB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $966.8M | +7.3% |
| Q2 2026 | $972M | +11% |
| Q1 2026 | $939.9M | +12% |
| Q4 2025 | $969.8M | -1.4% |
| Q3 2025 | $901.2M | +2.9% |
| Q2 2025 | $875.7M | +0.6% |
| Q1 2025 | $840.6M | -12% |
| Q4 2024 | $983.4M | +5.5% |
TRMB's revenue has picked up after four years of holding roughly level: $967M last quarter, up 7.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | -2 points |
| Q2 2026 | 14% | -1 points |
| Q1 2026 | 15% | +3.7 points |
| Q4 2025 | 22% | +4.6 points |
| Q3 2025 | 17% | +3.4 points |
| Q2 2025 | 15% | +7.5 points |
| Q1 2025 | 12% | +0.2 points |
| Q4 2024 | 18% | +7.3 points |
TRMB 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.
TRMB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $141.8M | +22% |
| Q2 2026 | $233.2M | +$292.6M |
| Q1 2026 | $268.6M | +80% |
| Q4 2025 | $154.7M | +42% |
| Q3 2025 | $116.6M | +32% |
| Q2 2025 | -$59.4M | -181% |
| Q1 2025 | $149M | -34% |
| Q4 2024 | $109M | +22% |
TRMB 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.
TRMB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +200K shares |
| 1 year | -3% | -7.2M shares |
| 3 years | -6.6% | -16.5M shares |
| 5 years | -8.4% | -21.3M shares |
| Available history | -7.8% | -19.7M shares |
TRMB has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $223.9M |
| Q2 2026 | $6.2M |
| Q1 2026 | $322.8M |
| Q4 2025 | $136M |
| Q3 2025 | $50M |
| Q2 2025 | $50M |
| Q1 2025 | $627.4M |
| Q4 2024 | — |
TRMB spent $689M buying back its own shares over the past year, down 5.3% 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.
TRMB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 1.4x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 1.5x | Healthy |
| Q2 2025 | 1.7x | Healthy |
| Q1 2025 | 1.7x | Healthy |
| Q4 2024 | 0.9x | Very low |
TRMB's net debt is about 1.6 years of its operating earnings (EBITDA), about the same as 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).
TRMB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.2 | Neutral |
| Stochastic | 41.9 | Neutral |
TRMB's weekly RSI is 44 (neutral) and its Stochastic is 42 (neutral).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
TRMB PE vs Technology Sector
| Metric | TRMB | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
TRMB 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 the edge over TRMB on trend strength, trading above more of its moving averages.
TRMB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $59.2 | 5.6% below |
| 20 week MA | $57.7 | 3.3% below |
| 50 week MA | $63.0 | 11% below |
| 100 week MA | $68.7 | 19% below |
| 200 week MA | $61.9 | 9.7% below |
TRMB is in a downtrend: it's below all five of its weekly moving averages, and 9.7% below its 200-week average.
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 TRMB on returns for 2026, with the stronger performance.
TRMB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $42.0 | $66.7 | +59% |
| 2021 | $66.7 | $86.1 | +29% |
| 2022 | $86.1 | $48.5 | -44% |
| 2023 | $48.5 | $53.2 | +9.6% |
| 2024 | $53.2 | $71.2 | +34% |
| 2025 | $71.2 | $80.2 | +13% |
| 2026 YTD | $80.2 | $55.8 | -30% |
TRMB is down 30% so far in 2026, after finishing higher in five of the previous six years.