Question 1

What is Applied Optoelectronics's P/FCF ratio?

Accepted Answer

Applied Optoelectronics (AAOI) P/FCF ratio is currently not available. When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Applied Optoelectronics?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Applied Optoelectronics specifically, the relevant sector benchmark is the current sector median of 21.7×.

Question 5

What is Applied Optoelectronics's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Applied Optoelectronics (AAOI) P/FCF ratio has ranged from a low of 30.9× in 2017 to a high of 68.8× in 2017.

Question 6

What was Applied Optoelectronics's P/FCF ratio in 2017?

Accepted Answer

Applied Optoelectronics (AAOI) P/FCF ratio at the end of 2017 was 52.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 7

Why does Applied Optoelectronics's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Question 8

Why is Applied Optoelectronics's P/FCF ratio not available?

Accepted Answer

When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.


2025	$2.45B	−$174.67M	—	—	Dec 31, 2025
2024	$1.70B	−$113.06M	—	—	Dec 31, 2024
2023	$706.13M	−$22.82M	—	—	Dec 31, 2023
2022	$53.79M	−$18.26M	—	—	Dec 31, 2022
2021	$139.67M	−$22.30M	—	—	Dec 31, 2021
2020	$224.99M	−$63.57M	—	—	Dec 31, 2020
2019	$238.86M	−$33.87M	—	—	Dec 31, 2019
2018	$305.21M	−$63.22M	—	—	Dec 31, 2018
2017	$733.93M	$13.95M	52.6×	-5.5×	Dec 31, 2017
2016	$413.27M	$7.12M	58.1×	—	Dec 31, 2016
2015	$288.85M	−$72.77M	—	—	Dec 31, 2015
2014	$166.27M	−$37.23M	—	—	Dec 31, 2014
2013	$189.59M	−$16.27M	—	—	Dec 31, 2013


Intuit (INTU)	13.9×
Okta (OKTA)	13.8×
EPAM Systems (EPAM)	13.4×
Zebra Technologies (ZBRA)	12.2×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	10.4×
Accenture (ACN)	10.3×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
Science Applications International (SAIC)	6.7×
Strategy (MSTR)	5.5×
HP (HPQ)	5.1×
Lyft (LYFT)	4.5×

P/FCF Ratio for Applied Optoelectronics (AAOI)

P/FCF Ratio daily chart for Applied Optoelectronics (AAOI)

Historical P/FCF Ratio for Applied Optoelectronics (AAOI) from 2013 to 2025

About P/FCF Ratio at Applied Optoelectronics (AAOI)

Applied Optoelectronics P/FCF Ratio by Year

Applied Optoelectronics P/FCF Ratio 2017: 52.6×

Applied Optoelectronics P/FCF Ratio 2016: 58.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Applied Optoelectronics (AAOI) Key Financials

P/FCF Ratio daily chart for Applied Optoelectronics (AAOI)

Historical P/FCF Ratio for Applied Optoelectronics (AAOI) from 2013 to 2025

About P/FCF Ratio at Applied Optoelectronics (AAOI)

Applied Optoelectronics P/FCF Ratio by Year

Applied Optoelectronics P/FCF Ratio 2017: 52.6×

Applied Optoelectronics P/FCF Ratio 2016: 58.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Applied Optoelectronics's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Applied Optoelectronics?

+What is Applied Optoelectronics's historical P/FCF ratio range?

+What was Applied Optoelectronics's P/FCF ratio in 2017?

+Why does Applied Optoelectronics's P/FCF ratio change over time?

+Why is Applied Optoelectronics's P/FCF ratio not available?

Applied Optoelectronics (AAOI) Key Financials