Is the business good?
How good a business is AOSL?
Alpha and Omega Semiconductor Limited earns −5.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−5.6%
Return on invested capital · cost of capital 9.0% · 15 points below what the capital costs: growth destroys value
- Operating margin
- −6.4%
Operating margin · Semiconductors median 8.5% · 12 months to Q3 2026
- Share count, year on year
- +0.94%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 15%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −3.0% |
| FY2021 | 9.8% |
| FY2022 | 13% |
| FY2023 | 3.3% |
| FY2024 | −0.57% |
| FY2025 | −4.1% |
Details›
- Gross margin12 months to Q3 2026
- 22%
- Operating margin12 months to Q3 2026
- −6.4%
- Net margin12 months to Q3 2026
- −16%
- Free cash flow margin
- −8.8%
- R&D as % of revenue
- 15%
- Revenue, trailing twelve months
- $685M
- Free cash flow, trailing twelve months
- −$60M
- Net income, trailing twelve months
- −$106M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −5.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Semiconductors
Ranks #19 of 48 by Smart Score