# Applied Optoelectronics, Inc. (AAOI) — Stock CV

Applied Optoelectronics, Inc. is a $9.35B technology company. Revenue grew 61.8% over the last year, it currently loses money, and it carries $41.9M of net debt.

> Applied Optoelectronics Inc is a provider of fiber-optic networking products, for four networking end-markets; internet data center, CATV, telecom, and FTTH.

## Identity

- **Ticker**: AAOI
- **Sector**: Technology
- **Industry**: Semiconductors & Related Devices
- **Headquarters**: SUGAR LAND, TX
- **Employees**: 4 691
- **Website**: https://www.ao-inc.com
- **Market cap**: $9.35B
- **Last price**: $110.10
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $596M
- **Net income**: -$57.0M
- **Free cash flow**: -$891M
- **Net debt**: $41.9M
- **Revenue growth (YoY)**: 61.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 15 |
| Growth | 25 |
| Profitability | 0 |
| Health | 70 |
| Quality | 27 |
| Moat | 6 |

## Qualifications (beginner checklist) — 5 of 9 passed

- [x] Revenue growing — +61.8% YoY
- [ ] Profitable — -$57.0M TTM
- [x] Profit growing — +79.5% YoY
- [ ] Generates cash — -$891M TTM
- [x] Debt under control — current ratio 2.78
- [x] Established company — $9.35B market cap
- [ ] Not printing shares — +175.2% shares over ~5y
- [ ] Proven track record — 2/10 profitable years
- [x] Financially stable — Altman Z 9.0 — safe

## Experience (career milestones)

- **FY2017** — Best year on record: $74.0M net income
- **FY2016** — First recorded profitable year: $31.2M net income

## Strengths

- Revenue growing 61.8% year over year
- Altman Z-Score 8.98 — low bankruptcy-risk zone

## Watch-outs

- Not profitable — 9.6% net margin
- Negative free cash flow (-$890.6M)
- Thin interest coverage (-31.2×)
- Loss-making in 8 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $212M | -$54.2M | -$19.6M |
| FY2022 | $223M | -$66.4M | -$17.2M |
| FY2023 | $218M | -$56.0M | -$17.0M |
| FY2024 | $249M | -$187M | -$113M |
| FY2025 | $456M | -$38.2M | -$354M |

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Source: https://stockcv.com/AAOI — derived from company filings; may be delayed or incomplete. Information, not investment advice.