Demonstrações financeiras detalhadas de Applied Optoelectronics, Inc. (AAOI): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Applied Optoelectronics, Inc. registou receitas de $455.7M no último exercício, com um CAGR de 5 anos de 14.2%.
Margens dos últimos 12 meses: margem bruta 28.9%, margem operacional -11.3%, margem líquida -9.6%.
Ao preço atual de $96.74, AAOI apresenta lucros negativos (P/L não significativo) e um ROE de -5.61%. A capitalização de mercado é de $7.8B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $260.7M | $382.3M | $267.5M | $190.9M | $234.6M | $211.6M | $222.8M | $217.6M | $249.4M | $455.7M |
| Custo da Receita | $173.8M | $216.0M | $179.7M | $144.7M | $184.1M | $173.8M | $189.2M | $158.7M | $187.6M | $318.8M |
| Lucro Bruto | $87.0M | $166.3M | $87.8M | $46.2M | $50.5M | $37.7M | $33.6M | $58.9M | $61.8M | $136.9M |
| P&D | $31.8M | $35.4M | $49.9M | $43.4M | $43.4M | $41.2M | $36.2M | $36.0M | $55.0M | $85.5M |
| Despesas Gerais e Administrativas | $32.2M | $44.0M | $48.6M | $51.5M | $56.0M | $53.3M | $56.4M | $64.3M | $77.8M | $106.0M |
| Despesas Operacionais | $63.9M | $79.3M | $98.5M | $94.9M | $99.4M | $94.5M | $92.6M | $100.3M | $132.7M | $191.5M |
| Lucro Operacional | $23.0M | $87.0M | -$10.8M | -$48.7M | -$48.8M | -$56.8M | -$59.0M | -$41.3M | -$70.9M | -$54.6M |
| EBITDA | $36.9M | $105.8M | $21.0M | -$22.0M | -$20.9M | -$23.2M | -$36.9M | -$26.2M | -$159.3M | -$15.5M |
| Despesas com Juros | $1.7M | $858000 | $1.1M | $5.4M | $5.6M | $5.6M | $6.3M | $9.4M | $6.8M | $3.5M |
| Lucro Antes de Impostos | $21.0M | $84.5M | -$9.8M | -$51.4M | -$51.2M | -$54.2M | -$66.4M | -$56.0M | -$186.7M | -$46.7M |
| Imposto | -$10.2M | $10.6M | -$7.6M | $14.7M | $7.2M | $2000 | $1000 | $9000 | $2000 | -$8.5M |
| Lucro Líquido | $31.2M | $74.0M | -$2.1M | -$66.0M | -$58.5M | -$54.2M | -$66.4M | -$56.0M | -$186.7M | -$38.2M |
| LPA | $1.82 | $3.87 | $-0.11 | $-3.31 | $-2.67 | $-2.01 | $-2.38 | $-1.75 | $-4.50 | $-0.64 |
| LPA Diluído | $1.76 | $3.67 | $-0.11 | $-3.31 | $-2.67 | $-2.01 | $-2.38 | $-1.75 | $-4.50 | $-0.64 |
| Ações em Circulação (Diluídas) | $17.7M | $20.1M | $19.6M | $20.0M | $21.9M | $26.9M | $27.8M | $31.9M | $41.5M | $60.2M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $118.6M | $134.3M | $151.1M | $191.9M |
| Lucro Bruto | $33.3M | $41.9M | $43.9M | $53.2M |
| Lucro Operacional | -$18.2M | -$11.5M | -$13.0M | -$24.7M |
| EBITDA | -$10.1M | -$1.4M | -$3.1M | -$20.6M |
| Lucro Líquido | -$17.9M | -$2.0M | -$14.3M | -$22.8M |
| LPA | $-0.28 | $-0.03 | $-0.19 | $-0.28 |
| LPA Diluído | $-0.28 | $-0.03 | $-0.19 | $-0.28 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $50.2M | $82.9M | $55.6M | $60.0M | $43.4M | $34.7M | $24.7M | $45.4M | $67.4M | $216.0M |
| Investimentos de Curto Prazo | $44000 | $36000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $49.8M | $59.9M | $30.5M | $34.7M | $43.4M | $56.1M | $61.5M | $48.3M | $116.8M | $244.4M |
| Estoque | $51.8M | $75.8M | $93.3M | $85.0M | $110.4M | $92.5M | $79.7M | $63.9M | $88.1M | $183.1M |
| Ativos Circulantes | $157.6M | $229.7M | $194.3M | $192.8M | $209.2M | $194.1M | $183.2M | $172.6M | $301.3M | $675.7M |
| Imobilizado | $144.1M | $197.9M | $234.2M | $256.3M | $260.8M | $250.2M | $215.8M | $205.3M | $228.9M | $425.7M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | $4.8M | $4.8M | $9.8M | $9.7M | $9.9M | $9.7M | $8.9M | $8.7M | $3.7M | $3.6M |
| Ativos Totais | $322.3M | $453.0M | $466.8M | $466.8M | $480.8M | $454.5M | $408.3M | $389.2M | $547.0M | $1.17B |
| Contas a Pagar | $36.4M | $43.6M | $29.9M | $32.8M | $29.5M | $34.4M | $47.8M | $32.9M | $105.0M | $143.9M |
| Dívida de Curto Prazo | $8.2M | $559000 | $28.2M | $39.7M | $54.1M | $57.9M | $69.4M | $39.0M | $41.6M | $37.5M |
| Passivos Circulantes | $60.0M | $70.7M | $77.4M | $91.4M | $103.1M | $109.0M | $138.6M | $93.4M | $170.1M | $257.3M |
| Dívida de Longo Prazo | $35.0M | $49.0M | $60.3M | $93.6M | $91.8M | $83.7M | $79.5M | $76.2M | $138.8M | $129.8M |
| Passivos Totais | $94.9M | $119.7M | $137.7M | $193.0M | $202.9M | $199.9M | $223.6M | $174.3M | $317.9M | $434.5M |
| Reservas | -$37.0M | $38.1M | $36.0M | -$30.1M | -$88.5M | -$142.7M | -$209.1M | -$265.1M | -$451.9M | -$490.1M |
| Patrimônio Líquido | $227.4M | $333.3M | $329.1M | $273.8M | $277.9M | $254.6M | $184.7M | $214.9M | $229.1M | $733.9M |
| Dívida Total | $43.1M | $49.6M | $88.5M | $142.3M | $154.9M | $149.9M | $155.5M | $121.1M | $190.9M | $167.3M |
| Dívida Líquida | -$8.9M | -$33.4M | $32.9M | $82.4M | $111.5M | $115.2M | $130.8M | $75.7M | $123.4M | -$48.7M |
| Capital de Giro | $97.6M | $159.0M | $116.9M | $101.4M | $106.0M | $85.1M | $44.6M | $79.2M | $131.2M | $418.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $137.0M | $216.0M | $449.4M | $499.7M |
| Ativos Totais | $978.5M | $1.17B | $1.57B | $2.30B |
| Passivos Totais | $419.4M | $434.5M | $459.9M | $633.2M |
| Patrimônio Líquido | $559.1M | $733.9M | $1.11B | $1.67B |
| Dívida Total | $235.2M | $167.3M | $173.7M | $264.5M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $31.2M | $74.0M | -$2.1M | -$66.0M | -$58.5M | -$54.2M | -$66.4M | -$56.0M | -$186.7M | -$38.2M |
| Depreciação e Amortização | $14.2M | $20.4M | $29.7M | $24.0M | $24.7M | $25.4M | $23.2M | $20.4M | $20.6M | $27.7M |
| Compensação em Ações | $3.8M | $7.8M | $11.1M | $11.8M | $13.0M | $12.1M | $9.6M | $11.9M | $14.8M | $11.7M |
| Variação Capital de Giro | $16.4M | -$20.1M | -$22.3M | $6.5M | -$34.4M | $6.0M | $11.9M | $6.1M | -$35.9M | -$175.9M |
| Fluxo de Caixa Operacional | $57.1M | $84.3M | $14.0M | -$1.8M | -$44.0M | -$11.6M | -$14.0M | -$7.9M | -$69.5M | -$174.4M |
| CapEx | -$50.0M | -$70.3M | -$77.2M | -$32.1M | -$19.6M | -$10.7M | -$4.2M | -$9.7M | -$43.4M | -$179.1M |
| Aquisições | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $5000 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $7.1M | $13.9M | -$63.2M | -$33.9M | -$63.6M | -$22.3M | -$18.3M | -$17.6M | -$112.9M | -$353.6M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$28.5M | -$29.6M | -$85.4M | $11.6M |
| CapEx | -$50.4M | $104.0M | -$58.2M | -$276.9M |
| Fluxo de Caixa Livre | -$78.8M | $74.5M | -$143.6M | -$265.3M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | -$17.2M | -$8.8M | $4.4M | $4.9M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +46.6% | -30.0% | -28.6% | +22.9% | -9.8% | +5.3% | -2.3% | +14.6% | +82.8% |
| Crescimento Lucro Líquido (anual) | | +136.8% | -102.9% | -2977.8% | +11.5% | +7.3% | -22.6% | +15.6% | -233.2% | +79.5% |
| Crescimento LPA (anual) | | +112.6% | -102.8% | -2909.1% | +19.3% | +24.7% | -18.4% | +26.5% | -157.1% | +85.8% |
| Variação de Ações (anual) | | +13.7% | -2.4% | +1.7% | +9.4% | +23.1% | +3.5% | +14.7% | +30.0% | +44.9% |
| Crescimento FCF (anual) | | +96.0% | -553.3% | +46.4% | -87.7% | +64.9% | +18.1% | +3.6% | -541.8% | -213.1% |
| Margem Bruta | 33.4% | 43.5% | 32.8% | 24.2% | 21.5% | 17.8% | 15.1% | 27.1% | 24.8% | 30.0% |
| Margem Operacional | 8.8% | 22.7% | -4.0% | -25.5% | -20.8% | -26.8% | -26.5% | -19.0% | -28.4% | -12.0% |
| Margem EBITDA | 14.2% | 27.7% | 7.9% | -11.5% | -8.9% | -11.0% | -16.5% | -12.0% | -63.9% | -3.4% |
| Margem Líquida | 12.0% | 19.3% | -0.8% | -34.6% | -24.9% | -25.6% | -29.8% | -25.8% | -74.9% | -8.4% |
| Margem FCF | 2.7% | 3.6% | -23.6% | -17.7% | -27.1% | -10.5% | -8.2% | -8.1% | -45.3% | -77.6% |
| Taxa Efetiva de Imposto | -48.7% | 12.5% | 78.1% | -28.5% | -14.1% | -0.0% | -0.0% | -0.0% | -0.0% | 18.1% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.40 | $0.69 | $-3.22 | $-1.70 | $-2.91 | $-0.83 | $-0.66 | $-0.55 | $-2.72 | $-5.87 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $17.2M | $19.1M | $19.6M | $20.0M | $21.9M | $26.9M | $27.8M | $31.9M | $41.5M | $60.2M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | -5.61% |
| Retorno sobre capital investido | -3.15% |
| Retorno sobre ativos | -2.48% |
| Margem bruta | 28.92% |
| Margem operacional | -11.31% |
| Margem líquida | -9.57% |
Saúde financeira
| Dívida / Patrimônio | 0.16 |
| Liquidez corrente | 2.78 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 2.98 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 12.88 | 9.77 | -140.27 | -3.59 | -3.19 | -2.56 | -0.79 | -11.04 | -8.19 | -54.47 |
| P/VP | 1.77 | 2.17 | 0.92 | 0.87 | 0.67 | 0.54 | 0.28 | 2.87 | 6.68 | 2.86 |
| P/V | 1.55 | 1.89 | 1.13 | 1.24 | 0.79 | 0.65 | 0.24 | 2.84 | 6.14 | 4.60 |
| Margem Bruta | 33.4% | 43.5% | 32.8% | 24.2% | 21.5% | 17.8% | 15.1% | 27.1% | 24.8% | 30.0% |
| Margem Operacional | 8.8% | 22.7% | -4.0% | -25.5% | -20.8% | -26.8% | -26.5% | -19.0% | -28.4% | -12.0% |
| Margem Líquida | 12.0% | 19.3% | -0.8% | -34.6% | -24.9% | -25.6% | -29.8% | -25.8% | -74.9% | -8.4% |