Which has grown faster, AAOI or FORM?

Over the past five years, AAOI grew revenue faster — AAOI at a 15.77% CAGR versus FORM at 3.14%.

Is AAOI or FORM more profitable?

FORM runs the higher net margin — AAOI at -8.55% versus FORM at 8.14%.

Which has been the better investment, AAOI or FORM?

Over the past 10-year, FORM delivered the higher annualized total return — AAOI at 32.46% versus FORM at 33.37%. Past performance doesn't predict future results.

Applied Optoelectronics, Inc. (AAOI) vs FormFactor, Inc. (FORM)

FORM leads on 7 of 9 compared metrics.

A side-by-side comparison of Applied Optoelectronics, Inc. and FormFactor, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 23, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

AAOI

Applied Optoelectronics, Inc.

Total return — AAOI vs FORM

growth of $100 · last 13y

AAOI +1619.2%FORM +2119.0%FORM compounded faster

AAOI FORM

AAOI vs FORM: by the numbers

•AAOI is the larger company ($13.74B vs $12.21B market cap).
•FORM is profitable (8.14% net margin) while AAOI runs a net loss (-8.55%).
•AAOI grew revenue faster over the past five years (15.77% vs 3.14% CAGR).

Which is better, AAOI or FORM?

Metric tally: AAOI 2 · FORM 7

It depends on what you're optimizing for:

GrowthAAOI(faster 5Y revenue CAGR)

QualityFORM(higher ROIC)

Metrics side by side

Valuation

Metric	AAOI	FORM
P/E ratio	—	180.07
Forward P/E	165.73	63.86●
P/S ratio	25.66	14.81●
P/B ratio	11.76	11.75
PEG ratio	—	35.38
EV / EBITDA	—	97.92
FCF yield	—	0.29%

Profitability

Metric	AAOI	FORM
Gross margin	29.64%	42.11%●
Operating margin	-11.57%	12.70%●
Net margin	-8.55%	8.14%●
ROE	-3.92%	6.45%●
ROIC	-4.71%	4.67%●

Growth (annualized)

Metric	AAOI	FORM
Revenue CAGR (5Y)	15.77%●	3.14%
EPS CAGR (5Y)	—	5.09%
FCF CAGR (5Y)	—	-19.02%
Total return CAGR (5Y)	82.46%●	36.40%

Frequently asked

Which is better, AAOI or FORM?: It depends on your goal. growth: AAOI (faster 5Y revenue CAGR); quality: FORM (higher ROIC). Across all compared metrics, FORM leads 7 to 2.
Which has grown faster, AAOI or FORM?: Over the past five years, AAOI grew revenue faster — AAOI at a 15.77% CAGR versus FORM at 3.14%.
Is AAOI or FORM more profitable?: FORM runs the higher net margin — AAOI at -8.55% versus FORM at 8.14%.
Which has been the better investment, AAOI or FORM?: Over the past 10-year, FORM delivered the higher annualized total return — AAOI at 32.46% versus FORM at 33.37%. Past performance doesn't predict future results.

Go deeper

Full AAOI analysis Full FORM analysis Interactive comparison tool

Dig into the metrics

Applied Optoelectronics P/E ratio FormFactor P/E ratio Applied Optoelectronics dividend yield FormFactor dividend yield Applied Optoelectronics ROE FormFactor ROE Applied Optoelectronics operating margin FormFactor operating margin Applied Optoelectronics revenue growth FormFactor revenue growth Applied Optoelectronics free cash flow FormFactor free cash flow

Applied Optoelectronics & FormFactor appear in these rankings

Fastest Revenue Growth Stocks Best 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 23, 2026.