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APPLIED OPTOELECTRONICS, INC.（AAOI）与美满电子科技（MRVL）财务数据对比。点击上方公司名可切换其他公司
美满电子科技的季度营收约是APPLIED OPTOELECTRONICS, INC.的15.4倍（$2.1B vs $134.3M）。美满电子科技同比增速更快（36.8% vs 33.9%）。美满电子科技自由现金流更多（$508.8M vs $-104.6M）。过去两年APPLIED OPTOELECTRONICS, INC.的营收复合增速更高（81.7% vs 20.6%）
应用光电是一家美国半导体企业，专注于光电器件领域，1997年于休斯顿大学成立，总部位于得克萨斯州舒格兰，深耕光通信相关的半导体器件研发与生产，在光电技术领域拥有深厚的技术积累。
美满电子科技是总部位于美国加利福尼亚州圣克拉拉的半导体企业，成立于1995年，专注于半导体及相关技术的研发与生产。截至2024年，公司全球员工超6500人，持有全球专利超1万项，2024财年总营收达55亿美元。
AAOI vs MRVL — 直观对比
营收规模更大
MRVL
是对方的15.4倍
$134.3M
营收增速更快
MRVL
高出2.9%
33.9%
自由现金流更多
MRVL
多$613.4M
$-104.6M
两年增速更快
AAOI
近两年复合增速
20.6%
损益表 — Q4 2025 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $2.1B |
| 净利润 | — | $1.9B |
| 毛利率 | 31.2% | 51.6% |
| 营业利润率 | -8.6% | 17.2% |
| 净利率 | — | 91.7% |
| 营收同比 | 33.9% | 36.8% |
| 净利润同比 | — | 381.1% |
| 每股收益（稀释后） | $-0.02 | $2.20 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AAOIMRVL
| Q4 25 | $134.3M | $2.1B | ||
| Q3 25 | $118.6M | $2.0B | ||
| Q2 25 | $103.0M | $1.9B | ||
| Q1 25 | $99.9M | $1.8B | ||
| Q4 24 | $100.3M | $1.5B | ||
| Q3 24 | $65.2M | $1.3B | ||
| Q2 24 | $43.3M | $1.2B | ||
| Q1 24 | $40.7M | $1.4B |
净利润AAOIMRVL
| Q4 25 | — | $1.9B | ||
| Q3 25 | $-17.9M | $194.8M | ||
| Q2 25 | $-9.1M | $177.9M | ||
| Q1 25 | $-9.2M | $200.2M | ||
| Q4 24 | — | $-676.3M | ||
| Q3 24 | $-17.8M | $-193.3M | ||
| Q2 24 | $-26.1M | $-215.6M | ||
| Q1 24 | $-23.2M | $-392.7M |
毛利率AAOIMRVL
| Q4 25 | 31.2% | 51.6% | ||
| Q3 25 | 28.0% | 50.4% | ||
| Q2 25 | 30.3% | 50.3% | ||
| Q1 25 | 30.6% | 50.5% | ||
| Q4 24 | 28.7% | 23.0% | ||
| Q3 24 | 24.4% | 46.2% | ||
| Q2 24 | 22.1% | 45.5% | ||
| Q1 24 | 18.7% | 46.6% |
营业利润率AAOIMRVL
| Q4 25 | -8.6% | 17.2% | ||
| Q3 25 | -15.3% | 14.5% | ||
| Q2 25 | -15.5% | 14.3% | ||
| Q1 25 | -8.9% | 12.9% | ||
| Q4 24 | -6.5% | -46.4% | ||
| Q3 24 | -25.4% | -7.9% | ||
| Q2 24 | -60.7% | -13.1% | ||
| Q1 24 | -53.2% | -2.3% |
净利率AAOIMRVL
| Q4 25 | — | 91.7% | ||
| Q3 25 | -15.1% | 9.7% | ||
| Q2 25 | -8.8% | 9.4% | ||
| Q1 25 | -9.2% | 11.0% | ||
| Q4 24 | — | -44.6% | ||
| Q3 24 | -27.3% | -15.2% | ||
| Q2 24 | -60.4% | -18.6% | ||
| Q1 24 | -57.0% | -27.5% |
每股收益（稀释后）AAOIMRVL
| Q4 25 | $-0.02 | $2.20 | ||
| Q3 25 | $-0.28 | $0.22 | ||
| Q2 25 | $-0.16 | $0.20 | ||
| Q1 25 | $-0.18 | $0.23 | ||
| Q4 24 | $-2.82 | $-0.78 | ||
| Q3 24 | $-0.42 | $-0.22 | ||
| Q2 24 | $-0.66 | $-0.25 | ||
| Q1 24 | $-0.60 | $-0.45 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $206.1M | $2.7B |
| 总债务越低越好 | $34.0M | $4.5B |
| 股东权益账面价值 | $733.9M | $14.1B |
| 总资产 | $1.2B | $21.6B |
| 负债/权益比越低杠杆越低 | 0.05× | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资AAOIMRVL
| Q4 25 | $206.1M | $2.7B | ||
| Q3 25 | $137.0M | $1.2B | ||
| Q2 25 | $64.7M | $885.9M | ||
| Q1 25 | $51.1M | $948.3M | ||
| Q4 24 | $67.4M | $868.1M | ||
| Q3 24 | $34.1M | $808.7M | ||
| Q2 24 | $10.7M | $847.7M | ||
| Q1 24 | $8.4M | $950.8M |
总债务AAOIMRVL
| Q4 25 | $34.0M | $4.5B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | $22.1M | $4.1B | ||
| Q4 24 | $26.7M | $4.1B | ||
| Q3 24 | $29.5M | $4.1B | ||
| Q2 24 | $22.5M | $4.1B | ||
| Q1 24 | $24.1M | $4.2B |
股东权益AAOIMRVL
| Q4 25 | $733.9M | $14.1B | ||
| Q3 25 | $559.1M | $13.4B | ||
| Q2 25 | $425.0M | $13.3B | ||
| Q1 25 | $309.0M | $13.4B | ||
| Q4 24 | $229.1M | $13.4B | ||
| Q3 24 | $212.1M | $14.2B | ||
| Q2 24 | $186.5M | $14.5B | ||
| Q1 24 | $195.7M | $14.8B |
总资产AAOIMRVL
| Q4 25 | $1.2B | $21.6B | ||
| Q3 25 | $978.5M | $20.6B | ||
| Q2 25 | $796.9M | $20.0B | ||
| Q1 25 | $644.7M | $20.2B | ||
| Q4 24 | $547.0M | $19.7B | ||
| Q3 24 | $410.0M | $20.3B | ||
| Q2 24 | $348.0M | $20.5B | ||
| Q1 24 | $350.9M | $21.2B |
负债/权益比AAOIMRVL
| Q4 25 | 0.05× | 0.32× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | 0.07× | 0.30× | ||
| Q4 24 | 0.12× | 0.31× | ||
| Q3 24 | 0.14× | 0.29× | ||
| Q2 24 | 0.12× | 0.29× | ||
| Q1 24 | 0.12× | 0.28× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-29.6M | $582.3M |
| 自由现金流经营现金流 - 资本支出 | $-104.6M | $508.8M |
| 自由现金流率自由现金流/营收 | -77.9% | 24.5% |
| 资本支出强度资本支出/营收 | 55.9% | 3.5% |
| 现金转化率经营现金流/净利润 | — | 0.31× |
| 过去12个月自由现金流最近4个季度 | $-353.6M | $1.6B |
8季度趋势，按日历期对齐
经营现金流AAOIMRVL
| Q4 25 | $-29.6M | $582.3M | ||
| Q3 25 | $-28.5M | $461.6M | ||
| Q2 25 | $-65.5M | $332.9M | ||
| Q1 25 | $-50.9M | $514.0M | ||
| Q4 24 | $-24.6M | $536.3M | ||
| Q3 24 | $-14.4M | $306.4M | ||
| Q2 24 | $-2.0M | $324.5M | ||
| Q1 24 | $-28.5M | $546.6M |
自由现金流AAOIMRVL
| Q4 25 | $-104.6M | $508.8M | ||
| Q3 25 | $-78.7M | $414.1M | ||
| Q2 25 | $-91.0M | $214.1M | ||
| Q1 25 | $-79.3M | $444.1M | ||
| Q4 24 | $-53.0M | $461.3M | ||
| Q3 24 | $-20.7M | $258.2M | ||
| Q2 24 | $-5.0M | $233.0M | ||
| Q1 24 | $-34.2M | $475.6M |
自由现金流率AAOIMRVL
| Q4 25 | -77.9% | 24.5% | ||
| Q3 25 | -66.3% | 20.6% | ||
| Q2 25 | -88.3% | 11.3% | ||
| Q1 25 | -79.4% | 24.4% | ||
| Q4 24 | -52.9% | 30.4% | ||
| Q3 24 | -31.8% | 20.3% | ||
| Q2 24 | -11.5% | 20.1% | ||
| Q1 24 | -84.2% | 33.3% |
资本支出强度AAOIMRVL
| Q4 25 | 55.9% | 3.5% | ||
| Q3 25 | 42.4% | 2.4% | ||
| Q2 25 | 24.7% | 6.3% | ||
| Q1 25 | 28.4% | 3.8% | ||
| Q4 24 | 28.3% | 4.9% | ||
| Q3 24 | 9.7% | 3.8% | ||
| Q2 24 | 6.9% | 7.9% | ||
| Q1 24 | 14.2% | 5.0% |
现金转化率AAOIMRVL
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 2.57× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AAOI
| Data Center | $74.9M | 56% |
| CATV | $54.0M | 40% |
| Telecom | $5.1M | 4% |
MRVL
暂无分部数据
