Applied Optoelectronics (AAOI) Financials

$11.45 +0.20 (+1.78%)

Closing price 04/15/2025 04:00 PM Eastern

Extended Trading

$11.18 -0.27 (-2.36%)

As of 04/15/2025 07:57 PM Eastern

Annual Income Statements for Applied Optoelectronics

This table shows Applied Optoelectronics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-66	-56	-187
Consolidated Net Income / (Loss)	-66	-56	-187
Net Income / (Loss) Continuing Operations	-66	-56	-187
Total Pre-Tax Income	-66	-56	-187
Total Operating Income	-59	-41	-71
Total Gross Profit	34	59	62
Total Revenue	223	218	249
Operating Revenue	223	218	249
Total Cost of Revenue	189	159	188
Operating Cost of Revenue	189	159	188
Total Operating Expenses	93	100	133
Selling, General & Admin Expense	47	53	60
Marketing Expense	9.72	11	18
Research & Development Expense	36	36	55
Total Other Income / (Expense), net	-7.40	-15	-116
Interest Expense	6.32	9.43	6.83
Interest & Investment Income	0.13	0.61	0.87
Other Income / (Expense), net	-1.21	-5.87	-110
Income Tax Expense	0.00	0.01	0.00
Basic Earnings per Share	($2.38)	($1.75)	($4.50)
Weighted Average Basic Shares Outstanding	27.85M	31.94M	41.54M
Diluted Earnings per Share	($2.38)	($1.75)	($4.50)
Weighted Average Diluted Shares Outstanding	27.85M	31.94M	41.54M
Weighted Average Basic & Diluted Shares Outstanding	28.97M	38.40M	49.65M

This table shows Applied Optoelectronics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Consolidated Net Income / (Loss)	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Net Income / (Loss) Continuing Operations	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Total Pre-Tax Income	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Total Operating Income	-13	-18	-14	-16	-6.69	-4.53	-22	-26	-17	-6.47
Total Gross Profit	9.75	6.23	9.24	7.90	20	22	7.59	9.56	16	29
Total Revenue	57	62	53	42	63	60	41	43	65	100
Operating Revenue	57	62	53	42	63	60	41	43	65	100
Total Cost of Revenue	47	55	44	34	42	39	33	34	49	72
Operating Cost of Revenue	47	55	44	34	42	39	33	34	49	72
Total Operating Expenses	23	25	23	24	27	26	29	36	32	35
Selling, General & Admin Expense	12	13	13	13	14	13	14	17	14	15
Marketing Expense	2.39	2.62	2.33	2.27	3.04	3.44	3.80	5.91	4.80	3.65
Research & Development Expense	9.21	9.22	8.54	8.64	9.46	9.34	12	13	13	17
Total Other Income / (Expense), net	-2.13	-1.89	-2.13	-0.97	-2.27	-9.33	-1.52	0.13	-1.21	-113
Interest Expense	1.62	1.89	2.14	2.18	1.99	3.13	1.68	1.69	1.70	1.76
Interest & Investment Income	0.03	0.04	0.03	0.04	0.07	0.47	0.26	0.09	0.16	0.37
Other Income / (Expense), net	-0.54	-0.03	-0.02	1.17	-0.34	-6.67	-0.11	1.73	0.34	-112
Income Tax Expense	0.00	-	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	($0.56)	($0.72)	($0.56)	($0.57)	($0.27)	($0.35)	($0.60)	($0.66)	($0.42)	($2.82)
Weighted Average Basic Shares Outstanding	27.84M	27.85M	28.87M	29.49M	32.77M	31.94M	38.36M	39.36M	42.31M	41.54M
Diluted Earnings per Share	($0.56)	($0.72)	($0.56)	($0.57)	($0.27)	($0.35)	($0.60)	($0.66)	($0.42)	($2.82)
Weighted Average Diluted Shares Outstanding	27.84M	27.85M	28.87M	29.49M	32.77M	31.94M	38.36M	39.36M	42.31M	41.54M
Weighted Average Basic & Diluted Shares Outstanding	28.52M	28.97M	29.20M	32.13M	35.54M	38.40M	38.91M	40.90M	45.08M	49.65M

This table details how cash moves in and out of Applied Optoelectronics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-5.55	20	24
Net Cash From Operating Activities	-14	-7.93	-70
Net Cash From Continuing Operating Activities	-14	-7.93	-70
Net Income / (Loss) Continuing Operations	-66	-56	-187
Consolidated Net Income / (Loss)	-66	-56	-187
Depreciation Expense	23	20	21
Amortization Expense	0.90	2.31	1.43
Non-Cash Adjustments To Reconcile Net Income	24	19	124
Changes in Operating Assets and Liabilities, net	4.22	6.64	-29
Net Cash From Investing Activities	-3.83	-15	-51
Net Cash From Continuing Investing Activities	-3.83	-15	-51
Purchase of Property, Plant & Equipment	-3.21	-9.08	-43
Acquisitions	-0.50	-0.59	-0.51
Sale of Property, Plant & Equipment	0.40	0.14	0.01
Other Investing Activities, net	-0.53	-5.23	-6.79
Net Cash From Financing Activities	11	41	142
Net Cash From Continuing Financing Activities	11	41	142
Repayment of Debt	-179	-142	-90
Issuance of Debt	189	115	93
Issuance of Common Equity	1.24	69	146
Other Financing Activities, net	-0.47	-1.02	-7.12
Effect of Exchange Rate Changes	-	1.62	2.08
Cash Interest Paid	5.14	8.10	4.94
Cash Income Taxes Paid	0.00	0.01	0.00

This table details how cash moves in and out of Applied Optoelectronics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-6.08	1.01	-8.64	1.66	2.63	24	-38	-1.29	25	38
Net Cash From Operating Activities	-9.19	-3.48	-9.39	15	-15	1.55	-28	-1.99	-14	-25
Net Cash From Continuing Operating Activities	-9.19	-3.48	-9.39	15	-15	1.55	-28	-1.99	-14	-25
Net Income / (Loss) Continuing Operations	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Consolidated Net Income / (Loss)	-16	-20	-16	-17	-8.95	-14	-23	-26	-18	-120
Depreciation Expense	5.70	5.50	5.33	5.19	4.98	4.93	5.00	5.07	5.23	5.36
Amortization Expense	0.22	0.26	0.31	0.31	0.31	1.38	0.32	0.36	0.36	0.39
Non-Cash Adjustments To Reconcile Net Income	5.52	1.80	2.82	15	7.47	-6.39	4.92	9.29	2.43	108
Changes in Operating Assets and Liabilities, net	-5.00	9.20	-1.55	12	-19	15	-16	9.41	-4.70	-18
Net Cash From Investing Activities	-1.20	-0.62	-0.78	-1.13	-3.25	-9.60	-8.07	-4.08	-9.27	-29
Net Cash From Continuing Investing Activities	-1.20	-0.62	-0.78	-1.13	-3.25	-9.60	-8.07	-4.08	-9.27	-29
Purchase of Property, Plant & Equipment	-0.78	-0.76	-0.58	-0.89	-1.46	-6.16	-5.76	-2.98	-6.29	-28
Acquisitions	-0.15	-0.11	-0.11	-0.14	-0.18	-0.16	-0.12	-0.11	-0.14	-0.13
Other Investing Activities, net	-0.27	-0.04	-0.16	-0.11	-1.68	-3.28	-2.19	-1.00	-2.84	-0.76
Net Cash From Financing Activities	3.59	5.17	1.09	-13	21	31	-1.42	4.51	49	90
Net Cash From Continuing Financing Activities	3.59	5.17	1.16	-13	21	31	-1.42	4.51	49	90
Repayment of Debt	-37	-47	-38	-57	-16	-31	-22	-25	-13	-29
Issuance of Debt	41	52	38	35	16	26	18	18	24	32
Issuance of Common Equity	0.24	1.00	0.41	9.88	22	37	3.83	16	39	88
Other Financing Activities, net	-0.12	-0.12	-0.01	-0.16	-0.47	-0.38	-1.01	-4.45	-0.38	-1.28
Effect of Exchange Rate Changes	0.73	-	-	-	-	-	0.28	0.27	-0.41	1.94
Cash Interest Paid	2.25	0.28	2.30	1.31	2.44	2.04	0.06	2.47	0.11	2.31
Cash Income Taxes Paid	-	-	-	-	-	-0.00	-	-	-	-0.00

This table presents Applied Optoelectronics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	408	389	547
Total Current Assets	183	173	301
Cash & Equivalents	25	45	67
Restricted Cash	11	9.73	12
Note & Lease Receivable	0.34	0.22	0.00
Accounts Receivable	61	48	117
Inventories, net	80	64	88
Prepaid Expenses	6.38	5.35	17
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00
Plant, Property, & Equipment, net	210	200	219
Total Noncurrent Assets	15	16	27
Intangible Assets	8.94	8.66	8.52
Other Noncurrent Operating Assets	5.95	7.61	18
Total Liabilities & Shareholders' Equity	408	389	547
Total Liabilities	224	174	318
Total Current Liabilities	139	93	170
Short-Term Debt	57	23	22
Accounts Payable	48	33	105
Accrued Expenses	17	19	22
Current Deferred Revenue	3.00	1.80	0.00
Other Current Liabilities	13	17	21
Total Noncurrent Liabilities	85	81	148
Long-Term Debt	80	76	139
Other Noncurrent Operating Liabilities	5.51	4.73	9.04
Commitments & Contingencies	-	0.00	0.00
Total Equity & Noncontrolling Interests	185	215	229
Total Preferred & Common Equity	185	215	229
Preferred Stock	0.00	0.00	0.00
Total Common Equity	185	215	229
Common Stock	392	479	684
Retained Earnings	-209	-265	-452
Accumulated Other Comprehensive Income / (Loss)	2.18	0.98	-2.55

This table presents Applied Optoelectronics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	414	384	357	374	351	348	410
Total Current Assets	188	162	145	164	134	133	188
Cash & Equivalents	26	16	22	22	8.43	11	34
Restricted Cash	8.31	11	7.03	9.30	8.97	5.47	7.24
Note & Lease Receivable	0.01	1.08	0.78	0.00	0.35	0.44	0.05
Accounts Receivable	53	57	43	61	57	58	75
Inventories, net	94	70	66	68	54	54	64
Prepaid Expenses	6.13	6.52	6.23	4.87	4.08	4.43	7.41
Current Deferred & Refundable Income Taxes	0.00	-	0.00	0.00	0.00	0.00	0.00
Plant, Property, & Equipment, net	212	207	198	194	200	198	205
Total Noncurrent Assets	15	15	14	16	17	17	16
Intangible Assets	8.91	8.93	8.62	8.62	8.60	8.56	3.66
Other Noncurrent Operating Assets	6.02	5.90	5.83	6.95	8.74	8.74	13
Total Liabilities & Shareholders' Equity	414	384	357	374	351	348	410
Total Liabilities	216	211	194	195	155	162	198
Total Current Liabilities	131	206	187	188	75	81	117
Short-Term Debt	51	131	117	111	24	23	29
Accounts Payable	52	38	35	35	24	34	56
Accrued Expenses	12	14	15	16	13	17	19
Current Deferred Revenue	-	2.76	11	10	1.69	1.57	1.44
Other Current Liabilities	15	20	9.75	15	12	6.14	11
Total Noncurrent Liabilities	85	5.31	6.15	7.19	81	81	81
Long-Term Debt	79	0.00	0.00	0.00	76	77	77
Other Noncurrent Operating Liabilities	5.57	5.31	5.15	4.77	4.25	3.92	3.73
Total Equity & Noncontrolling Interests	199	173	163	178	196	186	212
Total Preferred & Common Equity	199	173	163	178	196	186	212
Preferred Stock	-	-	-	-	0.00	0.00	0.00
Total Common Equity	199	173	163	178	196	186	212
Common Stock	388	394	407	432	485	502	544
Retained Earnings	-189	-225	-242	-251	-288	-314	-332
Accumulated Other Comprehensive Income / (Loss)	-0.99	3.82	-1.47	-2.19	-0.69	-1.53	0.71

This table displays calculated financial ratios and metrics derived from Applied Optoelectronics' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	5.32%	-2.32%	14.57%
EBITDA Growth	-61.34%	32.17%	-548.15%
EBIT Growth	-23.85%	21.57%	-282.84%
NOPAT Growth	-3.93%	29.91%	-71.49%
Net Income Growth	-22.59%	15.59%	-233.17%
EPS Growth	-18.41%	26.47%	-157.14%
Operating Cash Flow Growth	-20.42%	43.45%	-776.86%
Free Cash Flow Firm Growth	169.30%	-113.91%	-3,558.20%
Invested Capital Growth	-17.64%	-9.16%	19.91%
Revenue Q/Q Growth	3.33%	-0.52%	19.00%
EBITDA Q/Q Growth	-19.68%	24.01%	-210.89%
EBIT Q/Q Growth	-9.66%	13.22%	-145.34%
NOPAT Q/Q Growth	-8.73%	25.07%	-2.81%
Net Income Q/Q Growth	-9.41%	10.24%	-130.82%
EPS Q/Q Growth	-8.68%	17.45%	-121.67%
Operating Cash Flow Q/Q Growth	-29.83%	38.83%	-60.35%
Free Cash Flow Firm Q/Q Growth	-7.08%	-9.88%	-51.26%
Invested Capital Q/Q Growth	-3.06%	0.36%	12.23%
Profitability Metrics	-	-	-
Gross Margin	15.09%	27.07%	24.78%
EBITDA Margin	-16.20%	-11.25%	-63.64%
Operating Margin	-26.48%	-19.00%	-28.44%
EBIT Margin	-27.02%	-21.70%	-72.50%
Profit (Net Income) Margin	-29.80%	-25.75%	-74.88%
Tax Burden Percent	100.00%	100.02%	100.00%
Interest Burden Percent	110.29%	118.68%	103.29%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-13.06%	-10.62%	-17.40%
ROIC Less NNEP Spread (ROIC-NNEP)	-39.03%	-47.85%	-233.87%
Return on Net Nonoperating Assets (RNNOA)	-17.17%	-17.44%	-66.72%
Return on Equity (ROE)	-30.23%	-28.06%	-84.12%
Cash Return on Invested Capital (CROIC)	6.29%	-1.02%	-35.51%
Operating Return on Assets (OROA)	-13.96%	-11.84%	-38.62%
Return on Assets (ROA)	-15.39%	-14.06%	-39.89%
Return on Common Equity (ROCE)	-30.23%	-28.06%	-84.12%
Return on Equity Simple (ROE_SIMPLE)	-35.95%	-26.08%	-81.50%
Net Operating Profit after Tax (NOPAT)	-41	-29	-50
NOPAT Margin	-18.53%	-13.30%	-19.90%
Net Nonoperating Expense Percent (NNEP)	25.97%	37.23%	216.47%
Return On Investment Capital (ROIC_SIMPLE)	-12.86%	-9.20%	-12.72%
Cost of Revenue to Revenue	84.91%	72.93%	75.22%
SG&A Expenses to Revenue	20.94%	24.46%	23.90%
R&D to Revenue	16.27%	16.53%	22.04%
Operating Expenses to Revenue	41.57%	46.07%	53.22%
Earnings before Interest and Taxes (EBIT)	-60	-47	-181
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-36	-24	-159
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.29	2.61	4.66
Price to Tangible Book Value (P/TBV)	0.31	2.71	4.84
Price to Revenue (P/Rev)	0.24	2.57	4.28
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.54	2.33	3.70
Enterprise Value to Revenue (EV/Rev)	0.70	2.78	4.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	7.78	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.74	0.46	0.70
Long-Term Debt to Equity	0.43	0.35	0.61
Financial Leverage	0.44	0.36	0.29
Leverage Ratio	1.96	2.00	2.11
Compound Leverage Factor	2.17	2.37	2.18
Debt to Total Capital	42.52%	31.70%	41.30%
Short-Term Debt to Total Capital	17.77%	7.46%	5.73%
Long-Term Debt to Total Capital	24.75%	24.23%	35.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	57.48%	68.30%	58.70%
Debt to EBITDA	-3.78	-4.07	-1.02
Net Debt to EBITDA	-2.80	-1.82	-0.52
Long-Term Debt to EBITDA	-2.20	-3.11	-0.87
Debt to NOPAT	-3.31	-3.45	-3.25
Net Debt to NOPAT	-2.45	-1.54	-1.65
Long-Term Debt to NOPAT	-1.93	-2.63	-2.80
Altman Z-Score	-0.38	1.38	0.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.32	1.85	1.77
Quick Ratio	0.62	1.00	1.08
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	20	-2.77	-101
Operating Cash Flow to CapEx	-499.54%	-88.65%	-160.20%
Free Cash Flow to Firm to Interest Expense	3.15	-0.29	-14.84
Operating Cash Flow to Interest Expense	-2.22	-0.84	-10.19
Operating Cash Flow Less CapEx to Interest Expense	-2.66	-1.79	-16.54
Efficiency Ratios	-	-	-
Asset Turnover	0.52	0.55	0.53
Accounts Receivable Turnover	4.08	3.98	3.03
Inventory Turnover	2.20	2.21	2.47
Fixed Asset Turnover	0.98	1.06	1.19
Accounts Payable Turnover	4.60	3.93	2.72
Days Sales Outstanding (DSO)	89.37	91.60	120.66
Days Inventory Outstanding (DIO)	166.11	165.05	147.90
Days Payable Outstanding (DPO)	79.34	92.83	134.14
Cash Conversion Cycle (CCC)	176.14	163.82	134.42
Capital & Investment Metrics	-	-	-
Invested Capital	286	259	311
Invested Capital Turnover	0.70	0.80	0.87
Increase / (Decrease) in Invested Capital	-61	-26	52
Enterprise Value (EV)	155	604	1,150
Market Capitalization	54	560	1,068
Book Value per Share	$6.47	$6.05	$5.08
Tangible Book Value per Share	$6.16	$5.80	$4.89
Total Capital	321	315	390
Total Debt	137	100	161
Total Long-Term Debt	80	76	139
Net Debt	101	45	82
Capital Expenditures (CapEx)	2.81	8.94	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	66	48	74
Debt-free Net Working Capital (DFNWC)	102	103	154
Net Working Capital (NWC)	45	79	131
Net Nonoperating Expense (NNE)	25	27	137
Net Nonoperating Obligations (NNO)	101	45	82
Total Depreciation and Amortization (D&A)	24	23	22
Debt-free, Cash-free Net Working Capital to Revenue	29.65%	21.89%	29.85%
Debt-free Net Working Capital to Revenue	45.62%	47.20%	61.58%
Net Working Capital to Revenue	20.01%	36.41%	52.61%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($2.38)	($1.75)	($4.50)
Adjusted Weighted Average Basic Shares Outstanding	27.85M	31.94M	41.54M
Adjusted Diluted Earnings per Share	($2.38)	($1.75)	($4.50)
Adjusted Weighted Average Diluted Shares Outstanding	27.85M	31.94M	41.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.97M	38.40M	49.65M
Normalized Net Operating Profit after Tax (NOPAT)	-41	-29	-50
Normalized NOPAT Margin	-18.53%	-13.30%	-19.90%
Pre Tax Income Margin	-29.80%	-25.75%	-74.88%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-9.53	-5.01	-26.48
NOPAT to Interest Expense	-6.54	-3.07	-7.27
EBIT Less CapEx to Interest Expense	-9.97	-5.96	-32.84
NOPAT Less CapEx to Interest Expense	-6.98	-4.02	-13.63
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Applied Optoelectronics' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.43%	13.19%	1.51%	-20.43%	10.33%	-1.83%	-23.30%	3.98%	4.16%	65.86%
EBITDA Growth	-2.49%	-88.61%	-2.19%	-33.23%	78.59%	61.24%	-92.26%	-105.32%	-510.87%	-2,198.35%
EBIT Growth	2.89%	-40.49%	3.41%	-13.14%	49.93%	39.10%	-53.33%	-65.66%	-130.63%	-955.77%
NOPAT Growth	12.66%	-34.77%	0.51%	-23.77%	50.46%	75.33%	-52.79%	-64.38%	-147.49%	-42.82%
Net Income Growth	1.08%	-39.28%	-1.43%	-17.21%	42.71%	31.57%	-42.22%	-54.13%	-98.34%	-763.63%
EPS Growth	3.45%	-35.85%	3.45%	-9.62%	51.79%	51.39%	-7.14%	-15.79%	-55.56%	-705.71%
Operating Cash Flow Growth	-362.62%	-1,234.48%	-160.62%	577.23%	-67.01%	144.50%	-203.31%	-113.04%	5.91%	-1,688.13%
Free Cash Flow Firm Growth	335.65%	3,171.63%	89.53%	6.64%	-37.09%	-52.42%	-135.65%	-174.23%	-196.35%	-344.32%
Invested Capital Growth	-16.78%	-17.64%	-17.67%	-19.19%	-12.25%	-9.16%	0.89%	7.04%	7.23%	19.91%
Revenue Q/Q Growth	8.40%	8.63%	-13.89%	-21.53%	50.30%	-3.35%	-32.72%	6.39%	50.57%	53.91%
EBITDA Q/Q Growth	-16.34%	-55.62%	32.30%	-8.70%	81.31%	-181.76%	-235.80%	-16.08%	44.38%	-960.09%
EBIT Q/Q Growth	-7.32%	-31.07%	22.88%	-4.30%	52.50%	-59.41%	-94.15%	-12.69%	33.87%	-629.75%
NOPAT Q/Q Growth	-4.63%	-36.07%	22.85%	-12.69%	58.12%	32.23%	-377.73%	-21.24%	36.95%	60.89%
Net Income Q/Q Growth	-8.10%	-29.60%	19.55%	-4.00%	47.16%	-54.80%	-67.18%	-12.71%	32.00%	-574.05%
EPS Q/Q Growth	-7.69%	-28.57%	22.22%	-1.79%	52.63%	-29.63%	-71.43%	-10.00%	36.36%	-571.43%
Operating Cash Flow Q/Q Growth	-507.86%	62.10%	-169.60%	262.49%	-200.58%	110.10%	-1,937.48%	93.02%	-625.99%	-70.47%
Free Cash Flow Firm Q/Q Growth	9.52%	-3.22%	2.19%	-1.56%	-35.39%	-26.80%	-176.57%	-104.98%	16.13%	-85.61%
Invested Capital Q/Q Growth	-5.45%	-3.06%	-3.27%	-8.86%	2.67%	0.36%	7.44%	-3.30%	2.85%	12.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.20%	10.11%	17.43%	18.98%	32.25%	35.74%	18.66%	22.10%	24.43%	28.65%
EBITDA Margin	-14.32%	-20.51%	-16.13%	-22.34%	-2.78%	-8.10%	-40.43%	-44.12%	-16.30%	-112.25%
Operating Margin	-23.81%	-29.82%	-26.72%	-38.36%	-10.69%	-7.50%	-53.22%	-60.65%	-25.40%	-6.45%
EBIT Margin	-24.76%	-29.87%	-26.75%	-35.56%	-11.24%	-18.53%	-53.49%	-56.66%	-24.88%	-117.98%
Profit (Net Income) Margin	-27.56%	-32.89%	-30.72%	-40.72%	-14.31%	-22.92%	-56.97%	-60.35%	-27.26%	-119.37%
Tax Burden Percent	100.00%	100.00%	100.00%	100.05%	100.00%	100.01%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	111.33%	110.07%	114.83%	114.45%	127.37%	123.68%	106.51%	106.53%	109.54%	101.18%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-11.08%	-14.71%	-13.67%	-20.29%	-5.92%	-4.19%	-27.55%	-33.70%	-13.91%	-3.95%
ROIC Less NNEP Spread (ROIC-NNEP)	-17.72%	-22.36%	-20.05%	-26.68%	-10.76%	-18.87%	-36.14%	-42.72%	-22.40%	-185.78%
Return on Net Nonoperating Assets (RNNOA)	-7.13%	-9.84%	-9.72%	-12.59%	-5.04%	-6.88%	-18.32%	-20.97%	-8.34%	-53.00%
Return on Equity (ROE)	-18.21%	-24.55%	-23.38%	-32.88%	-10.95%	-11.07%	-45.88%	-54.67%	-22.25%	-56.95%
Cash Return on Invested Capital (CROIC)	6.60%	6.29%	5.91%	5.83%	-0.91%	-1.02%	-13.20%	-22.67%	-25.00%	-35.51%
Operating Return on Assets (OROA)	-12.18%	-15.43%	-14.41%	-19.13%	-6.24%	-10.12%	-29.90%	-33.27%	-13.31%	-62.85%
Return on Assets (ROA)	-13.56%	-16.99%	-16.55%	-21.90%	-7.95%	-12.51%	-31.85%	-35.44%	-14.57%	-63.59%
Return on Common Equity (ROCE)	-18.21%	-24.55%	-23.38%	-32.88%	-10.95%	-11.07%	-45.88%	-54.67%	-22.25%	-56.95%
Return on Equity Simple (ROE_SIMPLE)	-30.57%	0.00%	-38.59%	-42.33%	-35.01%	0.00%	-32.15%	-38.66%	-38.15%	0.00%
Net Operating Profit after Tax (NOPAT)	-9.45	-13	-9.92	-11	-4.68	-3.17	-15	-18	-12	-4.53
NOPAT Margin	-16.66%	-20.87%	-18.70%	-26.85%	-7.48%	-5.25%	-37.25%	-42.46%	-17.78%	-4.52%
Net Nonoperating Expense Percent (NNEP)	6.64%	7.65%	6.38%	6.39%	4.85%	14.68%	8.59%	9.02%	8.49%	181.83%
Return On Investment Capital (ROIC_SIMPLE)	-	-4.00%	-	-	-	-1.01%	-	-	-	-1.16%
Cost of Revenue to Revenue	82.80%	89.89%	82.57%	81.02%	67.75%	64.26%	81.34%	77.90%	75.57%	71.35%
SG&A Expenses to Revenue	20.56%	20.70%	23.66%	31.13%	22.97%	22.09%	33.75%	38.87%	21.86%	14.77%
R&D to Revenue	16.24%	14.98%	16.10%	20.76%	15.12%	15.45%	28.80%	30.22%	20.61%	16.69%
Operating Expenses to Revenue	41.00%	39.93%	44.15%	57.34%	42.94%	43.23%	71.88%	82.75%	49.83%	35.11%
Earnings before Interest and Taxes (EBIT)	-14	-18	-14	-15	-7.03	-11	-22	-25	-16	-118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.12	-13	-8.55	-9.30	-1.74	-4.90	-16	-19	-11	-113
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.38	0.29	0.37	1.06	1.78	2.61	2.05	1.29	1.95	4.66
Price to Tangible Book Value (P/TBV)	0.40	0.31	0.39	1.12	1.87	2.71	2.15	1.35	1.99	4.84
Price to Revenue (P/Rev)	0.35	0.24	0.29	0.81	1.45	2.57	1.96	1.16	1.98	4.28
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.58	0.54	0.61	1.04	1.54	2.33	1.74	1.20	1.73	3.70
Enterprise Value to Revenue (EV/Rev)	0.80	0.70	0.75	1.23	1.82	2.78	2.36	1.56	2.29	4.61
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	8.03	7.78	9.28	15.91	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.74	0.76	0.72	0.62	0.46	0.51	0.53	0.50	0.70
Long-Term Debt to Equity	0.40	0.43	0.00	0.00	0.00	0.35	0.39	0.41	0.36	0.61
Financial Leverage	0.40	0.44	0.48	0.47	0.47	0.36	0.51	0.49	0.37	0.29
Leverage Ratio	1.90	1.96	2.01	2.07	2.09	2.00	1.99	2.02	2.01	2.11
Compound Leverage Factor	2.11	2.16	2.31	2.37	2.66	2.47	2.12	2.15	2.20	2.13
Debt to Total Capital	39.70%	42.52%	43.07%	41.79%	38.46%	31.70%	33.92%	34.72%	33.44%	41.30%
Short-Term Debt to Total Capital	15.60%	17.77%	43.07%	41.79%	38.46%	7.46%	8.15%	7.88%	9.25%	5.73%
Long-Term Debt to Total Capital	24.10%	24.75%	0.00%	0.00%	0.00%	24.23%	25.77%	26.84%	24.18%	35.57%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	60.30%	57.48%	56.93%	58.21%	61.54%	68.30%	66.08%	65.28%	66.56%	58.70%
Debt to EBITDA	-4.33	-3.78	-3.60	-3.04	-3.46	-4.07	-3.10	-2.35	-2.09	-1.02
Net Debt to EBITDA	-3.19	-2.80	-2.86	-2.29	-2.49	-1.82	-2.57	-1.97	-1.28	-0.52
Long-Term Debt to EBITDA	-2.63	-2.20	0.00	0.00	0.00	-3.11	-2.36	-1.82	-1.51	-0.87
Debt to NOPAT	-3.44	-3.31	-3.17	-2.70	-2.89	-3.45	-2.94	-2.40	-2.21	-3.25
Net Debt to NOPAT	-2.53	-2.45	-2.51	-2.04	-2.08	-1.54	-2.43	-2.01	-1.35	-1.65
Long-Term Debt to NOPAT	-2.09	-1.93	0.00	0.00	0.00	-2.63	-2.23	-1.85	-1.60	-2.80
Altman Z-Score	0.15	-0.04	-0.32	-0.10	0.48	1.68	0.98	0.17	0.71	0.89
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.43	1.32	0.79	0.77	0.87	1.85	1.79	1.64	1.61	1.77
Quick Ratio	0.60	0.62	0.36	0.35	0.44	1.00	0.89	0.85	0.93	1.08
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	50	48	49	49	31	23	-18	-36	-30	-56
Operating Cash Flow to CapEx	-1,176.57%	-733.26%	-1,841.18%	1,726.02%	-1,104.10%	25.16%	-494.38%	-66.90%	-229.72%	-86.74%
Free Cash Flow to Firm to Interest Expense	30.82	25.59	23.12	22.36	15.80	7.36	-10.51	-21.33	-17.79	-32.02
Operating Cash Flow to Interest Expense	-5.67	-1.84	-4.39	7.02	-7.72	0.50	-16.99	-1.17	-8.48	-14.03
Operating Cash Flow Less CapEx to Interest Expense	-6.15	-2.10	-4.63	6.61	-8.41	-1.47	-20.43	-2.93	-12.18	-30.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.52	0.54	0.54	0.56	0.55	0.56	0.59	0.53	0.53
Accounts Receivable Turnover	4.46	4.08	4.03	4.64	3.85	3.98	3.59	4.13	3.08	3.03
Inventory Turnover	1.91	2.20	2.34	2.19	2.17	2.21	2.38	2.45	2.35	2.47
Fixed Asset Turnover	0.95	0.98	1.01	1.01	1.08	1.06	1.01	1.05	1.05	1.19
Accounts Payable Turnover	4.47	4.60	4.84	4.10	4.02	3.93	4.77	4.31	3.41	2.72
Days Sales Outstanding (DSO)	81.89	89.37	90.61	78.63	94.74	91.60	101.59	88.42	118.36	120.66
Days Inventory Outstanding (DIO)	191.23	166.11	155.99	166.97	168.50	165.05	153.51	148.75	155.45	147.90
Days Payable Outstanding (DPO)	81.70	79.34	75.46	88.92	90.78	92.83	76.51	84.62	107.05	134.14
Cash Conversion Cycle (CCC)	191.43	176.14	171.14	156.68	172.46	163.82	178.59	152.55	166.76	134.42
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	295	286	276	252	259	259	279	270	277	311
Invested Capital Turnover	0.66	0.70	0.73	0.76	0.79	0.80	0.74	0.79	0.78	0.87
Increase / (Decrease) in Invested Capital	-59	-61	-59	-60	-36	-26	2.46	18	19	52
Enterprise Value (EV)	172	155	168	261	398	604	485	323	480	1,150
Market Capitalization	76	54	64	173	318	560	402	240	415	1,068
Book Value per Share	$7.12	$6.47	$5.98	$5.59	$5.55	$6.05	$5.10	$4.79	$5.19	$5.08
Tangible Book Value per Share	$6.80	$6.16	$5.67	$5.30	$5.28	$5.80	$4.88	$4.57	$5.10	$4.89
Total Capital	329	321	303	280	290	315	296	286	319	390
Total Debt	131	137	131	117	111	100	100	99	107	161
Total Long-Term Debt	79	80	0.00	0.00	0.00	76	76	77	77	139
Net Debt	96	101	104	89	80	45	83	83	65	82
Capital Expenditures (CapEx)	0.78	0.48	0.51	0.88	1.39	6.16	5.76	2.97	6.29	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	74	66	60	46	56	48	66	58	59	74
Debt-free Net Working Capital (DFNWC)	108	102	87	74	88	103	83	75	101	154
Net Working Capital (NWC)	57	45	-44	-43	-24	79	59	52	71	131
Net Nonoperating Expense (NNE)	6.18	7.40	6.38	5.77	4.27	11	8.02	7.74	6.17	115
Net Nonoperating Obligations (NNO)	96	101	104	89	80	45	83	83	65	82
Total Depreciation and Amortization (D&A)	5.92	5.77	5.64	5.50	5.29	6.31	5.31	5.43	5.59	5.75
Debt-free, Cash-free Net Working Capital to Revenue	34.17%	29.65%	26.66%	21.44%	25.76%	21.89%	32.03%	28.23%	28.34%	29.85%
Debt-free Net Working Capital to Revenue	50.21%	45.62%	38.71%	34.88%	40.04%	47.20%	40.51%	36.02%	48.08%	61.58%
Net Working Capital to Revenue	26.39%	20.01%	-19.71%	-20.16%	-10.90%	36.41%	28.75%	25.14%	34.01%	52.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.56)	($0.72)	($0.56)	($0.57)	($0.27)	($0.35)	($0.60)	($0.66)	($0.42)	($2.82)
Adjusted Weighted Average Basic Shares Outstanding	27.84M	27.85M	28.87M	29.49M	32.77M	31.94M	38.36M	39.36M	42.31M	41.54M
Adjusted Diluted Earnings per Share	($0.56)	($0.72)	($0.56)	($0.57)	($0.27)	($0.35)	($0.60)	($0.66)	($0.42)	($2.82)
Adjusted Weighted Average Diluted Shares Outstanding	27.84M	27.85M	28.87M	29.49M	32.77M	31.94M	38.36M	39.36M	42.31M	41.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	28.52M	28.97M	29.20M	32.13M	35.54M	38.40M	38.91M	40.90M	45.08M	49.65M
Normalized Net Operating Profit after Tax (NOPAT)	-9.45	-13	-9.92	-11	-4.68	-3.17	-15	-18	-12	-4.53
Normalized NOPAT Margin	-16.66%	-20.87%	-18.70%	-26.85%	-7.48%	-5.25%	-37.25%	-42.46%	-17.78%	-4.52%
Pre Tax Income Margin	-27.56%	-32.88%	-30.72%	-40.70%	-14.31%	-22.92%	-56.97%	-60.35%	-27.26%	-119.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.66	-9.74	-6.64	-6.80	-3.53	-3.58	-12.98	-14.48	-9.52	-67.41
NOPAT to Interest Expense	-5.83	-6.81	-4.64	-5.14	-2.35	-1.01	-9.04	-10.85	-6.81	-2.58
EBIT Less CapEx to Interest Expense	-9.14	-9.99	-6.88	-7.21	-4.23	-5.55	-16.42	-16.24	-13.22	-83.58
NOPAT Less CapEx to Interest Expense	-6.31	-7.06	-4.88	-5.54	-3.05	-2.98	-12.48	-12.61	-10.50	-18.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Applied Optoelectronics' Financials

When does Applied Optoelectronics's fiscal year end?

According to the most recent income statement we have on file, Applied Optoelectronics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Applied Optoelectronics' net income changed over the last 2 years?

Applied Optoelectronics' net income appears to be on an upward trend, with a most recent value of -$186.73 million in 2024, rising from -$66.40 million in 2022. The previous period was -$56.05 million in 2023.

What is Applied Optoelectronics's operating income?

Applied Optoelectronics's total operating income in 2024 was -$70.91 million, based on the following breakdown:

Total Gross Profit: $61.80 million
Total Operating Expenses: $132.71 million

How has Applied Optoelectronics revenue changed over the last 2 years?

Over the last 2 years, Applied Optoelectronics' total revenue changed from $222.82 million in 2022 to $249.37 million in 2024, a change of 11.9%.

How much debt does Applied Optoelectronics have?

Applied Optoelectronics' total liabilities were at $317.92 million at the end of 2024, a 82.4% increase from 2023, and a 42.2% increase since 2022.

How much cash does Applied Optoelectronics have?

In the past 2 years, Applied Optoelectronics' cash and equivalents has ranged from $24.69 million in 2022 to $67.43 million in 2024, and is currently $67.43 million as of their latest financial filing in 2024.

How has Applied Optoelectronics' book value per share changed over the last 2 years?

Over the last 2 years, Applied Optoelectronics' book value per share changed from 6.47 in 2022 to 5.08 in 2024, a change of -21.5%.

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This page (NASDAQ:AAOI) was last updated on 4/16/2025 by MarketBeat.com Staff

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Applied Optoelectronics (AAOI) Financials

Frequently Asked Questions About Applied Optoelectronics' Financials

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Applied Optoelectronics (AAOI) Financials

Annual Income Statements for Applied Optoelectronics

Quarterly Income Statements for Applied Optoelectronics

Annual Cash Flow Statements for Applied Optoelectronics

Quarterly Cash Flow Statements for Applied Optoelectronics

Annual Balance Sheets for Applied Optoelectronics

Quarterly Balance Sheets for Applied Optoelectronics

Annual Metrics and Ratios for Applied Optoelectronics

Quarterly Metrics and Ratios for Applied Optoelectronics

Frequently Asked Questions About Applied Optoelectronics' Financials

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