COMP <GO>
AAOI vs FORM // EV/EBITDA & P/E VALUATION
Applied Optoelectronics Inc. (NASDAQ) VS. FormFactor Inc. FormFactor Inc. (NASDAQ) • 15-METRIC TALLY: AAOI 4
— FORM 8
■ METRIC PARITY
LAST: $62.50 (-9.49%) • MKT CAP: $5.86B
valuation
—
LAST: $87.30 (-0.26%) • MKT CAP: $6.84B
valuation
51.8x
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AAOI VS. FORM)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | AAOI | FORM | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 30.00% | 39.30% | -9.30 | FORM | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -8.00% | 4.80% | -12.80 | FORM | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | 51.8x | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | -5.26% | 0.15% | -5.41 | FORM | /fcf-yield <GO> |
| Operating Margin | -12.00% | 7.30% | -19.30 | FORM | /operating-margins <GO> |
| Net Profit Margin | -8.40% | 6.90% | -15.30 | FORM | /net-margins <GO> |
| Revenue Growth (YoY) | 82.80% | 2.80% | +80.00 | AAOI | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 9.36 | 25.60 | -16.24 | FORM | /balance-sheet <GO> |
| Piotroski F-Score Quality | 4/9 | 7/9 | -3.00 | FORM | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 38.6 | 36.2 | +2.40 | AAOI | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 1.32 | 1.16 | +0.16 | AAOI | /macro-sensitivity <GO> |
| Forward P/E Multiple | 22.0x | 130.3x | -108.30 | AAOI | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $5.86B | $6.84B | -$975.1M | FORM | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | AAOI REV | FORM REV | AAOI GROSS % | FORM GROSS % | AAOI FCF | FORM FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $455.7M | $785.0M | 30.0% | 39.3% | -$353.6M | $11.7M |
| FY 2024 | $249.4M | $763.6M | 24.8% | 40.3% | -$112.9M | $79.1M |
| FY 2023 | $217.6M | $663.1M | — | — | -$17.7M | $34.8M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
AAOI // BETA 1.32
FORM // BETA 1.16