Applied Optoelectronics (AAOI) vs Zebra Technologies (ZBRA)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Applied Optoelectronics (AAOI) has outperformed Zebra Technologies (ZBRA) over the past year, gaining 228.7% versus a gain of 24.4%. Over five years, AAOI leads with a +1366.8% price change compared with -25.9% for ZBRA. Zebra Technologies is the larger company by market cap ($18.32 billion vs $9.31 billion), about 2.0 times the size, while Applied Optoelectronics is growing revenue faster (+82.8% vs +8.3%).
On valuation, Zebra Technologies trades at a lower forward P/E (17.4x vs 23.8x for Applied Optoelectronics). Zebra Technologies converts more of its revenue into profit, with a net margin of 7.8% versus -8.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | AAOI | ZBRA |
|---|---|---|
| Share price | $109.64 | $387.18 |
| Market cap | $9.31B | $18.32B |
| 1-day change | +3.53% | +1.32% |
| YTD return | +203.79% | +57.38% |
| 1-year return | +228.68% | +24.36% |
| 5-year return | +1366.76% | -25.92% |
| P/E ratio (TTM) | — | 35.49 |
| Forward P/E | 23.82 | 17.40 |
| EPS (TTM) | $-0.75 | $10.91 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $455.71M | $5.40B |
| Revenue growth (YoY) | +82.75% | +8.33% |
| Net income (latest FY) | $-38.23M | $419.00M |
| Gross margin | 30.04% | 48.05% |
| Operating margin | -11.98% | 12.97% |
| Net margin | -8.39% | 7.77% |
| 52-week high | $233.67 | $390.80 |
| 52-week low | $18.50 | $199.05 |
| Distance from 52-week high | -53.08% | -0.93% |
| Analyst consensus | none | buy |
| Avg. price target upside | +49.03% | +6.89% |
| Average volume | 9.62M | 664.04K |
| Shares outstanding | 84.91M | 47.31M |
| Employees | 4,691 | 10,700 |
| Sector | Technology | Industrials |
| Industry | Semiconductors | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- AAOI has outperformed ZBRA by 204.3 percentage points over the past year.
- Zebra Technologies is more profitable, keeping 7.8 cents of every revenue dollar as net income versus -8.4 cents for Applied Optoelectronics.
- Applied Optoelectronics grew revenue faster in its latest fiscal year (+82.75% vs +8.33%).
- The two companies sit in different sectors: Applied Optoelectronics in Technology and Zebra Technologies in Industrials.
About Applied Optoelectronics
AAOI stock →Applied Optoelectronics, Inc. engages in the design, manufacture, and sale of fiber-optic networking products in the United States, Taiwan, and China.
Technology · Semiconductors · 4,691 employees
About Zebra Technologies
ZBRA stock →Zebra Technologies Corporation, together with its subsidiaries, operates in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Connected Frontline, and Asset Visibility and Automation.
Industrials · Industrial Machinery/Components · 10,700 employees
AAOI vs ZBRA FAQ
Which is bigger, Applied Optoelectronics or Zebra Technologies?
Zebra Technologies (ZBRA) is larger, with a market capitalization of $18.32B compared with $9.31B for Applied Optoelectronics (AAOI).
Which stock has performed better over the past year, AAOI or ZBRA?
AAOI returned +228.68% over the past 12 months, compared with +24.36% for ZBRA (price return, excluding dividends). Past performance does not predict future results.
Are Applied Optoelectronics and Zebra Technologies in the same industry?
No. Applied Optoelectronics is in the Technology sector, while Zebra Technologies is in Industrials.