Which has grown faster, AAOI or ZBRA?

Over the past five years, AAOI grew revenue faster — AAOI at a 15.77% CAGR versus ZBRA at 3.31%.

Is AAOI or ZBRA more profitable?

ZBRA runs the higher net margin — AAOI at -8.55% versus ZBRA at 7.49%.

Which has been the better investment, AAOI or ZBRA?

Over the past 10-year, AAOI delivered the higher annualized total return — AAOI at 30.58% versus ZBRA at 14.93%. Past performance doesn't predict future results.

Applied Optoelectronics, Inc. (AAOI) vs Zebra Technologies Corporation (ZBRA)

ZBRA leads on 8 of 10 compared metrics.

A side-by-side comparison of Applied Optoelectronics, Inc. and Zebra Technologies Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 24, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

AAOI

Applied Optoelectronics, Inc.

$11.35B

$147.44Technology

ZBRA

Zebra Technologies Corporation

$11.32B

$237.72Technology

Total return — AAOI vs ZBRA

growth of $100 · last 13y

AAOI +1380.3%ZBRA +419.8%AAOI compounded faster

AAOI ZBRA

AAOI vs ZBRA: by the numbers

•AAOI is the larger company ($11.35B vs $11.32B market cap).
•ZBRA is profitable (7.49% net margin) while AAOI runs a net loss (-8.55%).
•AAOI grew revenue faster over the past five years (15.77% vs 3.31% CAGR).

Which is better, AAOI or ZBRA?

Metric tally: AAOI 2 · ZBRA 8

It depends on what you're optimizing for:

GrowthAAOI(faster 5Y revenue CAGR)

QualityZBRA(higher ROIC)

Metrics side by side

Valuation

Metric	AAOI	ZBRA
P/E ratio	—	28.92
Forward P/E	142.70	12.81●
P/S ratio	22.10	2.16●
P/B ratio	10.13	3.47●
EV / EBITDA	—	15.08
FCF yield	—	6.94%

Profitability

Metric	AAOI	ZBRA
Gross margin	29.64%	47.47%●
Operating margin	-11.57%	14.38%●
Net margin	-8.55%	7.49%●
ROE	-3.92%	12.05%●
ROIC	-4.71%	8.81%●

Growth (annualized)

Metric	AAOI	ZBRA
Revenue CAGR (5Y)	15.77%●	3.31%
EPS CAGR (5Y)	—	-2.66%
FCF CAGR (5Y)	—	-3.79%
Total return CAGR (5Y)	75.94%●	-13.92%

Frequently asked

Which is better, AAOI or ZBRA?: It depends on your goal. growth: AAOI (faster 5Y revenue CAGR); quality: ZBRA (higher ROIC). Across all compared metrics, ZBRA leads 8 to 2.
Which has grown faster, AAOI or ZBRA?: Over the past five years, AAOI grew revenue faster — AAOI at a 15.77% CAGR versus ZBRA at 3.31%.
Is AAOI or ZBRA more profitable?: ZBRA runs the higher net margin — AAOI at -8.55% versus ZBRA at 7.49%.
Which has been the better investment, AAOI or ZBRA?: Over the past 10-year, AAOI delivered the higher annualized total return — AAOI at 30.58% versus ZBRA at 14.93%. Past performance doesn't predict future results.

Go deeper

Full AAOI analysis Full ZBRA analysis Interactive comparison tool

Dig into the metrics

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

Applied Optoelectronics & Zebra Technologies appear in these rankings

Fastest Revenue Growth Stocks Highest FCF Yield 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 24, 2026.