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APPLIED DIGITAL CORP (APLD) Stock Fundamental Analysis

USA - NASDAQ:APLD - US0381692070 - Common Stock

31.22 USD
+0.6 (+1.96%)
Last: 10/23/2025, 9:50:10 AM
Fundamental Rating

2

APLD gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 86 industry peers in the IT Services industry. Both the profitability and financial health of APLD have multiple concerns. APLD is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year APLD has reported negative net income.
In the past year APLD has reported a negative cash flow from operations.
In the past 5 years APLD always reported negative net income.
The reported operating cash flow has been mixed in the past 5 years: APLD reported negative operating cash flow in multiple years.
APLD Yearly Net Income VS EBIT VS OCF VS FCFAPLD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 2025 0 -200M -400M -600M

1.2 Ratios

With a Return On Assets value of -10.33%, APLD is not doing good in the industry: 76.74% of the companies in the same industry are doing better.
With a Return On Equity value of -22.37%, APLD is not doing good in the industry: 70.93% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -10.33%
ROE -22.37%
ROIC N/A
ROA(3y)-16.33%
ROA(5y)-14.47%
ROE(3y)-77.16%
ROE(5y)-53.71%
ROIC(3y)N/A
ROIC(5y)N/A
APLD Yearly ROA, ROE, ROICAPLD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 2025 0 -20 -40 -60 -80 -100

1.3 Margins

APLD has a Gross Margin of 46.96%. This is in the better half of the industry: APLD outperforms 63.95% of its industry peers.
APLD does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 46.96%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
APLD Yearly Profit, Operating, Gross MarginsAPLD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 2025 0 -100 -200

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2

2. Health

2.1 Basic Checks

APLD does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for APLD has been increased compared to 1 year ago.
The number of shares outstanding for APLD has been increased compared to 5 years ago.
Compared to 1 year ago, APLD has a worse debt to assets ratio.
APLD Yearly Shares OutstandingAPLD Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
APLD Yearly Total Debt VS Total AssetsAPLD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

2.2 Solvency

APLD has an Altman-Z score of 3.53. This indicates that APLD is financially healthy and has little risk of bankruptcy at the moment.
APLD's Altman-Z score of 3.53 is fine compared to the rest of the industry. APLD outperforms 62.79% of its industry peers.
A Debt/Equity ratio of 0.28 indicates that APLD is not too dependend on debt financing.
APLD has a Debt to Equity ratio (0.28) which is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF N/A
Altman-Z 3.53
ROIC/WACCN/A
WACC9.31%
APLD Yearly LT Debt VS Equity VS FCFAPLD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 2025 0 500M -500M

2.3 Liquidity

APLD has a Current Ratio of 0.65. This is a bad value and indicates that APLD is not financially healthy enough and could expect problems in meeting its short term obligations.
APLD has a Current ratio of 0.65. This is amonst the worse of the industry: APLD underperforms 89.53% of its industry peers.
A Quick Ratio of 0.65 indicates that APLD may have some problems paying its short term obligations.
With a Quick ratio value of 0.65, APLD is not doing good in the industry: 88.37% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.65
Quick Ratio 0.65
APLD Yearly Current Assets VS Current LiabilitesAPLD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M

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6

3. Growth

3.1 Past

APLD shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.92%.
Looking at the last year, APLD shows a quite strong growth in Revenue. The Revenue has grown by 12.43% in the last year.
Measured over the past years, APLD shows a very strong growth in Revenue. The Revenue has been growing by 156.45% on average per year.
EPS 1Y (TTM)-0.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.33%
Revenue 1Y (TTM)12.43%
Revenue growth 3Y156.45%
Revenue growth 5YN/A
Sales Q2Q%5.79%

3.2 Future

APLD is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 34.64% yearly.
The Revenue is expected to grow by 52.02% on average over the next years. This is a very strong growth
EPS Next Y54.72%
EPS Next 2Y28.43%
EPS Next 3Y34.64%
EPS Next 5YN/A
Revenue Next Year22.89%
Revenue Next 2Y48.21%
Revenue Next 3Y52.02%
Revenue Next 5YN/A

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
APLD Yearly Revenue VS EstimatesAPLD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M
APLD Yearly EPS VS EstimatesAPLD Yearly EPS VS EstimatesYearly EPS VS Estimates 2022 2023 2024 2025 2026 2027 2028 0 0.5 -0.5 -1

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1

4. Valuation

4.1 Price/Earnings Ratio

APLD reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year APLD is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
APLD Price Earnings VS Forward Price EarningsAPLD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50

4.2 Price Multiples

APLD's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. APLD is more expensive than 70.93% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 425.2
APLD Per share dataAPLD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2

4.3 Compensation for Growth

A more expensive valuation may be justified as APLD's earnings are expected to grow with 34.64% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.43%
EPS Next 3Y34.64%

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0

5. Dividend

5.1 Amount

No dividends for APLD!.
Industry RankSector Rank
Dividend Yield N/A

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APPLIED DIGITAL CORP

NASDAQ:APLD (10/23/2025, 9:50:10 AM)

31.22

+0.6 (+1.96%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)10-09 2025-10-09/amc
Earnings (Next)01-12 2026-01-12/bmo
Inst Owners54.36%
Inst Owner Change1.01%
Ins Owners13.54%
Ins Owner Change5.25%
Market Cap8.73B
Revenue(TTM)181.00M
Net Income(TTM)-247891000
Analysts82.67
Price Target21.53 (-31.04%)
Short Float %32.43%
Short Ratio2.28
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.01
Dividend Growth(5Y)N/A
DP-1.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.65%
Min EPS beat(2)-59.52%
Max EPS beat(2)48.23%
EPS beat(4)1
Avg EPS beat(4)-89.31%
Min EPS beat(4)-331.37%
Max EPS beat(4)48.23%
EPS beat(8)2
Avg EPS beat(8)-267.26%
EPS beat(12)2
Avg EPS beat(12)-227.92%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)13.35%
Min Revenue beat(2)0.71%
Max Revenue beat(2)25.99%
Revenue beat(4)2
Avg Revenue beat(4)1.82%
Min Revenue beat(4)-18.2%
Max Revenue beat(4)25.99%
Revenue beat(8)4
Avg Revenue beat(8)-2.03%
Revenue beat(12)5
Avg Revenue beat(12)-4.1%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)44.49%
EPS NQ rev (1m)16.31%
EPS NQ rev (3m)27.47%
EPS NY rev (1m)-3.36%
EPS NY rev (3m)1.7%
Revenue NQ rev (1m)28.22%
Revenue NQ rev (3m)89.97%
Revenue NY rev (1m)0.8%
Revenue NY rev (3m)12.71%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 48.24
P/FCF N/A
P/OCF N/A
P/B 7.88
P/tB 7.88
EV/EBITDA 425.2
EPS(TTM)-1.1
EYN/A
EPS(NY)-0.41
Fwd EYN/A
FCF(TTM)-3.57
FCFYN/A
OCF(TTM)-0.43
OCFYN/A
SpS0.65
BVpS3.96
TBVpS3.96
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -10.33%
ROE -22.37%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 46.96%
FCFM N/A
ROA(3y)-16.33%
ROA(5y)-14.47%
ROE(3y)-77.16%
ROE(5y)-53.71%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF N/A
Debt/EBITDA 14.13
Cap/Depr 1292.73%
Cap/Sales 484.09%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.65
Quick Ratio 0.65
Altman-Z 3.53
F-Score5
WACC9.31%
ROIC/WACCN/A
Cap/Depr(3y)881.97%
Cap/Depr(5y)2083.81%
Cap/Sales(3y)269.63%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-0.92%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%53.33%
EPS Next Y54.72%
EPS Next 2Y28.43%
EPS Next 3Y34.64%
EPS Next 5YN/A
Revenue 1Y (TTM)12.43%
Revenue growth 3Y156.45%
Revenue growth 5YN/A
Sales Q2Q%5.79%
Revenue Next Year22.89%
Revenue Next 2Y48.21%
Revenue Next 3Y52.02%
Revenue Next 5YN/A
EBIT growth 1Y-87.02%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year255.78%
EBIT Next 3Y122.63%
EBIT Next 5YN/A
FCF growth 1Y-1092.34%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-364.45%
OCF growth 3YN/A
OCF growth 5YN/A