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APPLIED OPTOELECTRONICS, INC.（AAOI）与Repay Holdings Corp（RPAY）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Repay Holdings Corp的1.7倍（$134.3M vs $78.6M），APPLIED OPTOELECTRONICS, INC.同比增速更快（33.9% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $-104.6M），过去两年APPLIED OPTOELECTRONICS, INC.的营收复合增速更高（81.7% vs -1.3%）
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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
AAOI vs RPAY — 直观对比
营收规模更大
AAOI
是对方的1.7倍
$78.6M
营收增速更快
AAOI
高出33.5%
0.4%
自由现金流更多
RPAY
多$127.8M
$-104.6M
两年增速更快
AAOI
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $78.6M |
| 净利润 | — | $-140.1M |
| 毛利率 | 31.2% | 74.2% |
| 营业利润率 | -8.6% | -182.2% |
| 净利率 | — | -178.3% |
| 营收同比 | 33.9% | 0.4% |
| 净利润同比 | — | -3304.1% |
| 每股收益（稀释后） | $-0.02 | $-1.68 |
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AAOIRPAY
| Q4 25 | $134.3M | $78.6M | ||
| Q3 25 | $118.6M | $77.7M | ||
| Q2 25 | $103.0M | $75.6M | ||
| Q1 25 | $99.9M | $77.3M | ||
| Q4 24 | $100.3M | $78.3M | ||
| Q3 24 | $65.2M | $79.1M | ||
| Q2 24 | $43.3M | $74.9M | ||
| Q1 24 | $40.7M | $80.7M |
净利润AAOIRPAY
| Q4 25 | — | $-140.1M | ||
| Q3 25 | $-17.9M | $-6.4M | ||
| Q2 25 | $-9.1M | $-102.3M | ||
| Q1 25 | $-9.2M | $-7.9M | ||
| Q4 24 | — | $-4.1M | ||
| Q3 24 | $-17.8M | $3.2M | ||
| Q2 24 | $-26.1M | $-4.1M | ||
| Q1 24 | $-23.2M | $-5.2M |
毛利率AAOIRPAY
| Q4 25 | 31.2% | 74.2% | ||
| Q3 25 | 28.0% | 74.4% | ||
| Q2 25 | 30.3% | 75.7% | ||
| Q1 25 | 30.6% | 75.9% | ||
| Q4 24 | 28.7% | 76.3% | ||
| Q3 24 | 24.4% | 77.8% | ||
| Q2 24 | 22.1% | 78.2% | ||
| Q1 24 | 18.7% | 76.2% |
营业利润率AAOIRPAY
| Q4 25 | -8.6% | -182.2% | ||
| Q3 25 | -15.3% | -3.9% | ||
| Q2 25 | -15.5% | -138.7% | ||
| Q1 25 | -8.9% | -4.7% | ||
| Q4 24 | -6.5% | -1.5% | ||
| Q3 24 | -25.4% | -0.9% | ||
| Q2 24 | -60.7% | -4.6% | ||
| Q1 24 | -53.2% | -3.1% |
净利率AAOIRPAY
| Q4 25 | — | -178.3% | ||
| Q3 25 | -15.1% | -8.3% | ||
| Q2 25 | -8.8% | -135.2% | ||
| Q1 25 | -9.2% | -10.3% | ||
| Q4 24 | — | -5.3% | ||
| Q3 24 | -27.3% | 4.1% | ||
| Q2 24 | -60.4% | -5.4% | ||
| Q1 24 | -57.0% | -6.5% |
每股收益（稀释后）AAOIRPAY
| Q4 25 | $-0.02 | $-1.68 | ||
| Q3 25 | $-0.28 | $-0.08 | ||
| Q2 25 | $-0.16 | $-1.15 | ||
| Q1 25 | $-0.18 | $-0.09 | ||
| Q4 24 | $-2.82 | $-0.04 | ||
| Q3 24 | $-0.42 | $0.03 | ||
| Q2 24 | $-0.66 | $-0.04 | ||
| Q1 24 | $-0.60 | $-0.06 |
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 | $115.7M |
| 总债务越低越好 | $34.0M | $280.1M |
| 股东权益账面价值 | $733.9M | $484.4M |
| 总资产 | $1.2B | $1.2B |
| 负债/权益比越低杠杆越低 | 0.05× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资AAOIRPAY
| Q4 25 | $206.1M | $115.7M | ||
| Q3 25 | $137.0M | $95.7M | ||
| Q2 25 | $64.7M | $162.6M | ||
| Q1 25 | $51.1M | $165.5M | ||
| Q4 24 | $67.4M | $189.5M | ||
| Q3 24 | $34.1M | $168.7M | ||
| Q2 24 | $10.7M | $147.1M | ||
| Q1 24 | $8.4M | $128.3M |
总债务AAOIRPAY
| Q4 25 | $34.0M | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | $22.1M | $497.6M | ||
| Q4 24 | $26.7M | $496.8M | ||
| Q3 24 | $29.5M | $496.2M | ||
| Q2 24 | $22.5M | $435.6M | ||
| Q1 24 | $24.1M | $434.9M |
股东权益AAOIRPAY
| Q4 25 | $733.9M | $484.4M | ||
| Q3 25 | $559.1M | $616.9M | ||
| Q2 25 | $425.0M | $633.7M | ||
| Q1 25 | $309.0M | $755.7M | ||
| Q4 24 | $229.1M | $761.3M | ||
| Q3 24 | $212.1M | $754.7M | ||
| Q2 24 | $186.5M | $815.4M | ||
| Q1 24 | $195.7M | $813.8M |
总资产AAOIRPAY
| Q4 25 | $1.2B | $1.2B | ||
| Q3 25 | $978.5M | $1.3B | ||
| Q2 25 | $796.9M | $1.4B | ||
| Q1 25 | $644.7M | $1.5B | ||
| Q4 24 | $547.0M | $1.6B | ||
| Q3 24 | $410.0M | $1.6B | ||
| Q2 24 | $348.0M | $1.5B | ||
| Q1 24 | $350.9M | $1.5B |
负债/权益比AAOIRPAY
| Q4 25 | 0.05× | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | 0.07× | 0.66× | ||
| Q4 24 | 0.12× | 0.65× | ||
| Q3 24 | 0.14× | 0.66× | ||
| Q2 24 | 0.12× | 0.53× | ||
| Q1 24 | 0.12× | 0.53× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-104.6M | $23.2M |
| 自由现金流率自由现金流/营收 | -77.9% | 29.6% |
| 资本支出强度资本支出/营收 | 55.9% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-353.6M | $90.7M |
8季度趋势，按日历期对齐
经营现金流AAOIRPAY
| Q4 25 | $-29.6M | $23.3M | ||
| Q3 25 | $-28.5M | $32.2M | ||
| Q2 25 | $-65.5M | $33.1M | ||
| Q1 25 | $-50.9M | $2.5M | ||
| Q4 24 | $-24.6M | $34.3M | ||
| Q3 24 | $-14.4M | $60.1M | ||
| Q2 24 | $-2.0M | $31.0M | ||
| Q1 24 | $-28.5M | $24.8M |
自由现金流AAOIRPAY
| Q4 25 | $-104.6M | $23.2M | ||
| Q3 25 | $-78.7M | $32.1M | ||
| Q2 25 | $-91.0M | $33.0M | ||
| Q1 25 | $-79.3M | $2.4M | ||
| Q4 24 | $-53.0M | $34.0M | ||
| Q3 24 | $-20.7M | $59.8M | ||
| Q2 24 | $-5.0M | $30.5M | ||
| Q1 24 | $-34.2M | $24.7M |
自由现金流率AAOIRPAY
| Q4 25 | -77.9% | 29.6% | ||
| Q3 25 | -66.3% | 41.3% | ||
| Q2 25 | -88.3% | 43.6% | ||
| Q1 25 | -79.4% | 3.0% | ||
| Q4 24 | -52.9% | 43.5% | ||
| Q3 24 | -31.8% | 75.6% | ||
| Q2 24 | -11.5% | 40.7% | ||
| Q1 24 | -84.2% | 30.6% |
资本支出强度AAOIRPAY
| Q4 25 | 55.9% | 0.1% | ||
| Q3 25 | 42.4% | 0.2% | ||
| Q2 25 | 24.7% | 0.1% | ||
| Q1 25 | 28.4% | 0.2% | ||
| Q4 24 | 28.3% | 0.3% | ||
| Q3 24 | 9.7% | 0.3% | ||
| Q2 24 | 6.9% | 0.6% | ||
| Q1 24 | 14.2% | 0.1% |
现金转化率AAOIRPAY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
