Applied Optoelectronics (AAOI) Return on Invested Capital [ROIC] (2014 - 2026)
Applied Optoelectronics' Return on Invested Capital [ROIC] was -4.24% in Q2 2026, up 8.08 percentage points from -12.32% a year earlier and up 0.99 percentage points from the prior quarter.
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Analysis
Applied Optoelectronics (AAOI) Return on Invested Capital [ROIC] (2014 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at Applied Optoelectronics came in at -8.73%, up 19.98 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +6.21 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was -28.72% in FY2024 (-11.48 pp), -17.24% in FY2023 (+4.18 pp), -21.41% in FY2022 (-3.66 pp) and -17.76% in FY2021 (-2.82 pp).
- The Q2 2026 figure marks the highest quarterly Return on Invested Capital [ROIC] since Q1 2019.
- Compared with a year earlier, Return on Invested Capital [ROIC] has increased for six straight quarters, with an average year-over-year change of +7.74 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q4 2025 (a gain of 21.92 percentage points); the worst was Q4 2024 (a drop of 11.86 percentage points).
- Per Business Quant data, AAOI's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was -5.23% (Q1 2026), -6.60% (Q4 2025) and -9.59% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,874.86 Bn | 4,622.35 Bn | 54.77 Bn | 66.86% |
| 2 | Cisco Systems | 442.74 Bn | 378.67 Bn | 11.06 Bn | 15.92% |
| 3 | Dell Technologies | 360.03 Bn | 315.78 Bn | 9.83 Bn | 37.37% |
| 4 | Arista Networks | 261.51 Bn | 214.96 Bn | 1.91 Bn | - |
| 5 | Sandisk | 251.12 Bn | 239.64 Bn | 7.58 Bn | 73.74% |
| 6 | Seagate Technology Holdings | 192.54 Bn | 187.54 Bn | 1.90 Bn | 66.09% |
| 7 | Western Digital | 149.92 Bn | 138.05 Bn | 2.03 Bn | 40.01% |
| 8 | Sony | 146.49 Bn | 96.88 Bn | 6.53 Bn | 12.73% |
| 9 | Lumentum Holdings | 96.17 Bn | 87.98 Bn | 477.30 Mn | 8.09% |
| 10 | Applied Optoelectronics | 9.75 Bn | 8.47 Bn | 53.21 Mn | -4.24% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -4.24% |
| Mar 31, 2026 | -5.23% |
| Dec 31, 2025 | -6.60% |
| Sep 30, 2025 | -9.59% |
| Jun 30, 2025 | -12.32% |
| Mar 31, 2025 | -19.83% |
| Dec 31, 2024 | -28.51% |
| Sep 30, 2024 | -30.61% |
| Jun 30, 2024 | -27.57% |
| Mar 31, 2024 | -21.33% |
| Dec 31, 2023 | -16.66% |
| Sep 30, 2023 | -22.00% |
| Jun 30, 2023 | -25.02% |
| Mar 31, 2023 | -23.85% |
| Dec 31, 2022 | -24.00% |
| Sep 30, 2022 | -20.75% |
| Jun 30, 2022 | -19.73% |
| Mar 31, 2022 | -18.80% |
| Dec 31, 2021 | -17.91% |
| Sep 30, 2021 | -16.98% |
API Access
Applied Optoelectronics Return on Invested Capital [ROIC] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=AAOI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "ticker": "AAOI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-invested-capital-%5Broic%5D&ticker=AAOI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();