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APPLIED OPTOELECTRONICS, INC.（AAOI）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
APPLIED OPTOELECTRONICS, INC.的季度营收约是RE/MAX Holdings, Inc.的1.9倍（$134.3M vs $71.1M），APPLIED OPTOELECTRONICS, INC.同比增速更快（33.9% vs -1.8%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $-104.6M），过去两年APPLIED OPTOELECTRONICS, INC.的营收复合增速更高（81.7% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
AAOI vs RMAX — 直观对比
营收规模更大
AAOI
是对方的1.9倍
$71.1M
营收增速更快
AAOI
高出35.7%
-1.8%
自由现金流更多
RMAX
多$138.1M
$-104.6M
两年增速更快
AAOI
近两年复合增速
-4.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $71.1M |
| 净利润 | — | $1.4M |
| 毛利率 | 31.2% | — |
| 营业利润率 | -8.6% | 13.1% |
| 净利率 | — | 2.0% |
| 营收同比 | 33.9% | -1.8% |
| 净利润同比 | — | -75.2% |
| 每股收益（稀释后） | $-0.02 | — |
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AAOIRMAX
| Q4 25 | $134.3M | $71.1M | ||
| Q3 25 | $118.6M | $73.2M | ||
| Q2 25 | $103.0M | $72.8M | ||
| Q1 25 | $99.9M | $74.5M | ||
| Q4 24 | $100.3M | $72.5M | ||
| Q3 24 | $65.2M | $78.5M | ||
| Q2 24 | $43.3M | $78.5M | ||
| Q1 24 | $40.7M | $78.3M |
净利润AAOIRMAX
| Q4 25 | — | $1.4M | ||
| Q3 25 | $-17.9M | $4.0M | ||
| Q2 25 | $-9.1M | $4.7M | ||
| Q1 25 | $-9.2M | $-2.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $-17.8M | $966.0K | ||
| Q2 24 | $-26.1M | $3.7M | ||
| Q1 24 | $-23.2M | $-3.4M |
毛利率AAOIRMAX
| Q4 25 | 31.2% | — | ||
| Q3 25 | 28.0% | — | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 30.6% | — | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 24.4% | — | ||
| Q2 24 | 22.1% | — | ||
| Q1 24 | 18.7% | — |
营业利润率AAOIRMAX
| Q4 25 | -8.6% | 13.1% | ||
| Q3 25 | -15.3% | 25.0% | ||
| Q2 25 | -15.5% | 19.3% | ||
| Q1 25 | -8.9% | 7.2% | ||
| Q4 24 | -6.5% | 5.9% | ||
| Q3 24 | -25.4% | 19.4% | ||
| Q2 24 | -60.7% | 20.6% | ||
| Q1 24 | -53.2% | 5.8% |
净利率AAOIRMAX
| Q4 25 | — | 2.0% | ||
| Q3 25 | -15.1% | 5.4% | ||
| Q2 25 | -8.8% | 6.4% | ||
| Q1 25 | -9.2% | -2.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | -27.3% | 1.2% | ||
| Q2 24 | -60.4% | 4.7% | ||
| Q1 24 | -57.0% | -4.3% |
每股收益（稀释后）AAOIRMAX
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-0.28 | — | ||
| Q2 25 | $-0.16 | — | ||
| Q1 25 | $-0.18 | — | ||
| Q4 24 | $-2.82 | — | ||
| Q3 24 | $-0.42 | — | ||
| Q2 24 | $-0.66 | — | ||
| Q1 24 | $-0.60 | — |
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 | $118.7M |
| 总债务越低越好 | $34.0M | $432.2M |
| 股东权益账面价值 | $733.9M | $452.4M |
| 总资产 | $1.2B | $582.5M |
| 负债/权益比越低杠杆越低 | 0.05× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AAOIRMAX
| Q4 25 | $206.1M | $118.7M | ||
| Q3 25 | $137.0M | $107.5M | ||
| Q2 25 | $64.7M | $94.3M | ||
| Q1 25 | $51.1M | $89.1M | ||
| Q4 24 | $67.4M | $96.6M | ||
| Q3 24 | $34.1M | $83.8M | ||
| Q2 24 | $10.7M | $66.1M | ||
| Q1 24 | $8.4M | $82.1M |
总债务AAOIRMAX
| Q4 25 | $34.0M | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | $22.1M | $435.3M | ||
| Q4 24 | $26.7M | $436.2M | ||
| Q3 24 | $29.5M | $437.2M | ||
| Q2 24 | $22.5M | $438.1M | ||
| Q1 24 | $24.1M | $439.0M |
股东权益AAOIRMAX
| Q4 25 | $733.9M | $452.4M | ||
| Q3 25 | $559.1M | $448.1M | ||
| Q2 25 | $425.0M | $442.4M | ||
| Q1 25 | $309.0M | $433.5M | ||
| Q4 24 | $229.1M | $429.5M | ||
| Q3 24 | $212.1M | $423.1M | ||
| Q2 24 | $186.5M | $418.4M | ||
| Q1 24 | $195.7M | $412.0M |
总资产AAOIRMAX
| Q4 25 | $1.2B | $582.5M | ||
| Q3 25 | $978.5M | $582.2M | ||
| Q2 25 | $796.9M | $574.8M | ||
| Q1 25 | $644.7M | $571.4M | ||
| Q4 24 | $547.0M | $581.6M | ||
| Q3 24 | $410.0M | $578.6M | ||
| Q2 24 | $348.0M | $571.4M | ||
| Q1 24 | $350.9M | $566.7M |
负债/权益比AAOIRMAX
| Q4 25 | 0.05× | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | 0.07× | 1.00× | ||
| Q4 24 | 0.12× | 1.02× | ||
| Q3 24 | 0.14× | 1.03× | ||
| Q2 24 | 0.12× | 1.05× | ||
| Q1 24 | 0.12× | 1.07× |
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 | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $-104.6M | $33.5M |
| 自由现金流率自由现金流/营收 | -77.9% | 47.1% |
| 资本支出强度资本支出/营收 | 55.9% | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | $-353.6M | $56.8M |
8季度趋势，按日历期对齐
经营现金流AAOIRMAX
| Q4 25 | $-29.6M | $40.9M | ||
| Q3 25 | $-28.5M | $17.7M | ||
| Q2 25 | $-65.5M | $4.6M | ||
| Q1 25 | $-50.9M | $5.7M | ||
| Q4 24 | $-24.6M | $59.7M | ||
| Q3 24 | $-14.4M | $17.6M | ||
| Q2 24 | $-2.0M | $15.9M | ||
| Q1 24 | $-28.5M | $9.4M |
自由现金流AAOIRMAX
| Q4 25 | $-104.6M | $33.5M | ||
| Q3 25 | $-78.7M | $16.4M | ||
| Q2 25 | $-91.0M | $2.9M | ||
| Q1 25 | $-79.3M | $4.0M | ||
| Q4 24 | $-53.0M | $53.0M | ||
| Q3 24 | $-20.7M | $16.3M | ||
| Q2 24 | $-5.0M | $14.0M | ||
| Q1 24 | $-34.2M | $6.8M |
自由现金流率AAOIRMAX
| Q4 25 | -77.9% | 47.1% | ||
| Q3 25 | -66.3% | 22.4% | ||
| Q2 25 | -88.3% | 4.0% | ||
| Q1 25 | -79.4% | 5.3% | ||
| Q4 24 | -52.9% | 73.2% | ||
| Q3 24 | -31.8% | 20.8% | ||
| Q2 24 | -11.5% | 17.8% | ||
| Q1 24 | -84.2% | 8.6% |
资本支出强度AAOIRMAX
| Q4 25 | 55.9% | 10.4% | ||
| Q3 25 | 42.4% | 1.8% | ||
| Q2 25 | 24.7% | 2.2% | ||
| Q1 25 | 28.4% | 2.3% | ||
| Q4 24 | 28.3% | 9.1% | ||
| Q3 24 | 9.7% | 1.7% | ||
| Q2 24 | 6.9% | 2.4% | ||
| Q1 24 | 14.2% | 3.3% |
现金转化率AAOIRMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
