Applied Digital Corp. (APLD)
Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting, and HPC Hosting Business. The company provides energized infrastructure services to crypto mining customers; and cloud services to customers, such as AI and machine learning developers. It also engages in the designing, constructing, and operating of data centers to provide computing power and support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas.
- Symbol
- APLD
- Exchange
- Nasdaq
- Sector
- Technology
- Industry
- Information Technology Services
- Market cap
- $7.84B
- 52 week range
- 19 - 50.72
Valuation
- Share price
- $27.89 (close of 2026-09-23)
- P/E (TTM)
- -29.92x
- Price to book
- 4.55x
- Price to free cash flow
- -2.82x
- Enterprise value
- $11.35B
- Book value per share
- $5.99
Price performance
| Period | Change |
|---|
| 1 day | -1.06% |
| 5 days | +19.09% |
| 1 month | +2.50% |
| 3 months | -38.39% |
| 6 months | +2.31% |
| Year to date | +13.74% |
| 1 year | +13.05% |
| 3 years | +427.22% |
| All time | +475.05% |
Profitability and growth
- Return on equity
- -10.69%
- Return on invested capital
- -4.52%
- Return on assets
- -1.86%
- Return on capital employed
- -2.70%
- Gross margin
- 35.08%
- Net margin
- -30.15%
- EBITDA margin
- -27.66%
- Revenue growth
- 323.95%
- Net income growth
- 20.22%
- Free cash flow growth
- -248.31%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- -35.41%
- Current ratio
- 4.01x
- Net debt to EBITDA
- -54.07x
Latest reported year
- Period end
- 2026-05-31
- Fiscal year
- 2026
- Revenue
- $611.31M
- Cost of revenue
- $396.86M
- Gross profit
- $214.45M
- EBITDA
- $-169.07M
- Net income
- $-184.34M
- Earnings per share
- $-0.91
- Shares outstanding
- 275.19M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2026-05-31 | $611.31M | $214.45M | $-184.34M | $-0.91 |
| 2025-05-31 | $144.19M | $-72.57M | $-231.06M | $-1.16 |
| 2024-05-31 | $136.62M | $-11.72M | $-149.27M | $-1.31 |
| 2023-05-31 | $55.39M | $11.00M | $-44.65M | $-0.47 |
| 2022-05-31 | $8.55M | $-957.00K | $-23.52M | $-0.41 |
| 2021-05-31 | - | - | $-568.00K | $-0.38 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2026-05-31 | 35.08% | -30.15% | -10.69% | -4.52% |
| 2025-05-31 | -50.33% | -160.25% | -46.43% | -5.29% |
| 2024-05-31 | -8.58% | -109.26% | -119.58% | -38.23% |
| 2023-05-31 | 19.87% | -80.60% | -64.07% | -31.99% |
| 2022-05-31 | -11.19% | -275.12% | -29.68% | -38.74% |
| 2021-05-31 | - | - | 21.99% | - |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2026-05-31 | $1.59B | - |
| 2025-05-31 | $43.95M | - |
| 2024-05-31 | $3.34M | - |
| 2023-05-31 | $29.00M | - |
| 2022-05-31 | $38.80M | $7.19M |
| 2021-05-31 | $11.75M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2026-05-31 | $-2.78B | $220.13M |
| 2025-05-31 | $-797.00M | $22.70M |
| 2024-05-31 | $-128.01M | $17.36M |
| 2023-05-31 | $-72.54M | $32.07M |
| 2022-05-31 | $-59.12M | $12.34M |
| 2021-05-31 | $-103.00K | - |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-08
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-27 | May/2026 | - |
| 2026-04-08 | - | - |
| 2026-01-07 | - | - |
| 2025-10-09 | - | - |
| 2025-07-30 | - | - |
| 2025-04-14 | - | - |
| 2025-01-14 | - | - |
| 2024-10-09 | - | - |
Filings and sources
- Company website
- applieddigital.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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