AAOI
Applied Optoelectronics, Inc.
AAOI has the edge over WBX overall, supported by stronger fundamentals and stronger modeled upside.
WBX
Wallbox N.V.
WBX 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.
WBX Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Stable | |
| Unavailable |
WBX's cash flow is currently stable, but its revenue and profitability are weak. There isn't enough data to rate its balance sheet.
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.
WBX PE Valuation
WBX 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.
WBX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect WBX's losses to grow, with revenue growing.
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 stronger earnings trend. Trailing diluted EPS is down 112% for AAOI versus WBX down 1,368%.
WBX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q1 2025 | -$0.66 | +$0.02 |
| Q4 2024 | -$0.78 | -$0.05 |
| Q3 2024 | -$0.70 | +$0.18 |
| Q3 2023 | -$0.88 | +$0.03 |
| Q3 2022 | -$0.91 | -$0.37 |
| Q2 2022 | -$1.14 | -$0.99 |
| Q1 2022 | -$1.20 | -$1.11 |
| Q4 2021 | -$1.19 | -$1.11 |
WBX lost $7.48 per share over the past year, a bigger loss than 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 WBX 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 has the edge over WBX on profitability, with a higher operating margin.
WBX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $26.6M | -38% |
| Q1 2026 | $33M | -21% |
| Q4 2025 | $37.4M | -6.5% |
| Q3 2025 | $39.4M | -3% |
| Q2 2025 | $42.5M | -22% |
| Q1 2025 | $41.8M | -13% |
| Q4 2024 | $40M | -4.8% |
| Q3 2024 | $40.6M | -3.7% |
WBX's revenue has slid since its 2024 peak: $27M last quarter, down 38% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -46% | +4.8 points |
| Q1 2026 | -39% | +16 points |
| Q4 2025 | -114% | +3.5 points |
| Q3 2025 | -32% | +85 points |
| Q2 2025 | -51% | -5.6 points |
| Q1 2025 | -55% | -0.1 points |
| Q4 2024 | -118% | -66 points |
| Q3 2024 | -118% | -66 points |
WBX's operating margin was −46% last quarter, up 4.8 points from the same quarter a year ago.
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.
WBX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$20M |
| Q3 2025 | $0 | +$20.3M |
| Q2 2025 | $0 | +$13.2M |
| Q1 2025 | $0 | +$13.3M |
| Q4 2024 | -$20M | -$9.1M |
| Q3 2024 | -$20.3M | -$9.4M |
WBX has the edge over AAOI on cash flow, with more consistent year-over-year improvement.
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.
WBX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -94% | -261M shares |
| 3 years | -90% | -158M shares |
| 5 years | -89% | -143M shares |
| Available history | -89% | -143M shares |
WBX has the edge over AAOI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
WBX hasn't bought back shares in the past year.
AAOI Net Leverage
AAOI's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
WBX Net Leverage
WBX's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
WBX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.0 | Neutral |
| Stochastic | 14.7 | Oversold |
WBX's weekly RSI is 35 (neutral) and its Stochastic is 15 (oversold).
AAOI PE vs Technology Sector
AAOI has no meaningful PE right now: it lost money over the past year.
WBX PE vs Technology Sector
WBX 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 WBX on trend strength, trading above more of its moving averages.
WBX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $2.65 | 22% below |
| 20 week MA | $3.23 | 36% below |
| 50 week MA | $3.07 | 33% below |
| 100 week MA | $4.85 | 57% below |
| 200 week MA | $25.2 | 92% below |
WBX is in a downtrend: it's below all five of its weekly moving averages, and 92% 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 WBX on returns for 2026, with the stronger performance.
WBX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $202.4 | $315.0 | +56% |
| 2022 | $315.0 | $69.8 | -78% |
| 2023 | $69.8 | $35.0 | -50% |
| 2024 | $35.0 | $8.84 | -75% |
| 2025 | $8.84 | $2.77 | -69% |
| 2026 YTD | $2.77 | $2.07 | -25% |
WBX has finished four years in a row lower, and it's down 25% so far in 2026.