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Applied Digital Corporation APLD R2KAI

Technology · Information Technology Services · United States
https://applieddigital.com
Company Profile ↓
$28.47
+199.05% 1Y
Mkt Cap$8.14B
P/E-74.92
P/B7.71
52W High$49.65
52W Low$9.52
Book Value$5.54
EPS (TTM)$-0.38

Company Overview

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 Business, and HPC Hosting Business. The company offers infrastructure services to crypto mining customers; and GPU computing solutions for critical workloads related to AI, machine learning, and other HPC tasks. It also engages in the designing, constructing, and managing of data centers to 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 has an lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. Applied Digital Corporation is based in Dallas, Texas.

Why Investors Should Care

Steady Revenue Expansion

Revenue has grown at a 156.5% CAGR over the past five years.

Recent Developments

  • May 2025 Revenue of $144.19M (+5.5% YoY); net profit $-231.06M.
  • Trailing 12 Months Year-on-year growth — revenue +139.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 156.5%, profit CAGR -294.1%.

Growth & Price Performance

Compounded Sales Growth

5 Years:156.45%
1 Year:139.30%

Compounded Profit Growth

5 Years:-294.14%
1 Year:-

Stock Price Performance

1 Year:+199.05%
6 Months:-24.44%
3 Months:+3.15%
1 Month:-31.35%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI AI Infrastructure / HPC Data Centres

Applied Digital designs and operates data centres and GPU-cloud (HPC) hosting purpose-built for AI and high-performance computing.

Core Focus

Data-centre hosting and GPU computing solutions for AI/ML training and inference workloads.

Key Initiatives
  • GPU/HPC hosting Applied Digital provides GPU computing solutions for AI, ML and other HPC workloads.
  • Purpose-built data centres It designs, builds and manages data centres optimised for high-density AI compute.
  • Capacity expansion Aggressive build-out targets the surging demand for AI-compute capacity.
Why Investors Should Care
  • Pure-play on AI/HPC data-centre and GPU-cloud demand (~139% growth).
  • Large capacity pipeline positioned for AI-compute scarcity.
  • Deeply loss-making, capital-intensive and reliant on financing — speculative.
  • Customer concentration, GPU supply and funding are key risks.
AI InvestmentAI is the business; heavy capex funds data-centre and GPU-capacity build-out.
AI RevenueMost revenue is AI/HPC hosting; AI-compute is the core revenue driver.
ROI (Now)Early — revenue is scaling fast but losses persist amid heavy investment.
ROI (Expected)Filling AI-compute capacity under long-term contracts is the path to profitability.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

Robinhood TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Compounding revenue at 156.5% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Earnings shrank at -294.1% CAGR over 5 years.
  • Trading 42.7% below its 52-week high.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
-74.92
Industry PE
36.02
Forward P/E
-29.50
PEG Ratio
1.83
Book Value
$5.54
Price to Book
7.71
P/S
38.22
EV/EBITDA
1,027.37
Dividend Yield
0.00%

Growth (CAGR)

Revenue 5Y
156.45%
Profit 5Y
-294.14%
Revenue (YoY)
139.30%
Earnings (YoY)
-

Profitability & Returns

ROCE
-10.94%
ROE
-5.56%
ROA
-0.60%
Profit Margin
-59.47%
Op Margin
-20.47%
Gross Margin
45.41%
EPS (Latest Qtr)
$-0.36
EPS (TTM)
$-0.38

Balance Sheet & Liquidity

Debt/Equity
1.10
Quick Ratio
1.72
Current Ratio
2.38
Debt
$2.83B
Total Assets
$6.25B
Current Assets
$2.43B
Working Capital
$-127.55M

Ownership

Promoter Holding
8.88%
Chg in Prom Hold
-2.20%
FII / Inst Holding
71.79%
Chg in FII Hold
-0.11%

Financial Snapshot

Enterprise Value
$8.14B
Total Revenue (TTM)
$319.26M
EBITDA
$13.90M
Free Cash Flow
$-1.50B
Operating Cash Flow
$-36.01M
Shares Outstanding
285.77M
Gross Margin
45.41%
Payout Ratio
0.00%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 APLD Applied Digital Corporation R2KAI 28.47 -74.92 $8.14B 0.00% -10.94% -5.56% 156.45% -294.14%
2 NVDA NVIDIA Corporation NDXSPXAI 211.80 32.43 $5.13T 0.49% 74.66% 114.29% 24.64% 32.12%
3 AAPL Apple Inc. NDXSPX 314.86 38.07 $4.62T 0.37% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 384.93 22.91 $2.86T 0.93% 26.90% 34.01% 9.48% 10.85%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 420.39 36.18 $2.18T 0.90% 30.20% 36.21% 18.94% 19.57%
6 AVGO Broadcom Inc. NDXSPXAI 389.11 64.85 $1.85T 0.68% 16.70% 37.28% 24.38% 26.24%
7 MU Micron Technology, Inc. NDXSPXAI 983.12 46.37 $1.11T 0.06% 13.69% 39.82% 13.68% 26.02%
8 AMD Advanced Micro Devices, Inc. NDXSPXAI 548.13 181.50 $893.78B 0.00% 6.33% 8.06% 13.64% 48.64%
9 ASML ASML Holding N.V. NDXAI 1,775.64 59.55 $684.36B 0.47% 42.97% 52.24% 15.55% 19.55%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in USD.

Metric Feb 2021Aug 2021Nov 2021Feb 2022Aug 2022Nov 2022Feb 2023Aug 2023Nov 2023Feb 2024Aug 2024Nov 2024Feb 2025May 2025Aug 2025Nov 2025Feb 2026
Revenue 0001.03M6.92M12.34M14.09M36.32M42.20M43.35M34.85M-52.92M-33.30M64.22M126.59M126.64M
Cost of Revenue ------------49.14M-61.11M55.61M100.55M72.83M
Gross Profit 000-1.05M831.00K528.00K3.56M-----3.78M27.81M8.61M26.04M53.80M
Operating Expenses ------------22.72M16.21M29.15M56.99M79.72M
Operating Income 0-13.04M-1.35M-2.42M-4.18M-26.70M-6.99M-7.37M-7.91M-55.46M25.29M--18.94M11.60M-20.54M-30.96M-25.92M
EBITDA -------------7.76M29.63M-18.14M-6.48M-5.11M
Interest Expense -----------2.93M8.90M-8.95M3.95M11.48M-
Pretax Income -------------35.44M20.18M-26.24M-26.55M-70.56M
Tax Provision ------------117.00K-16.00K8.00K15.00K-2.00K
Net Income -77.00K-14.10M-171.00K-6.45M-4.53M-26.62M-7.03M-11.46M-10.53M-62.84M-4.25M--35.55M-52.54M-16.93M-17.51M-99.30M
Diluted EPS -0.05-0.310.00-0.12-0.05-0.28-0.07-0.11-0.10-0.52-0.03--0.16-0.24-0.07-0.07-0.36

Profit & Loss (Annual)

Figures in USD.

Metric May 2021May 2022May 2023May 2024May 2025
Revenue 08.55M55.39M136.62M144.19M
Cost of Revenue -9.51M44.39M106.65M101.45M
Gross Profit 0-957.00K11.00M29.96M42.74M
Operating Expenses -19.94M53.91M45.02M83.06M
Operating Income -332.00K-20.90M-42.91M-15.05M-40.32M
EBITDA --20.71M-35.39M22.79M-45.55M
Interest Expense -112.00K2.01M17.71M14.74M
Pretax Income --21.95M-45.01M-74.28M-158.23M
Tax Provision -540.00K-523.00K96.00K102.00K
Net Income -568.00K-23.52M-44.65M-149.27M-231.06M
Diluted EPS -0.38-0.41-0.49-1.31-

Balance Sheet (Annual)

Figures in USD.

Metric May 2020May 2021May 2022May 2023May 2024May 2025
Total Assets -15.05M119.98M263.96M762.87M1.87B
Current Assets --40.36M45.67M404.14M430.59M
Cash & Equivalents -11.75M38.80M29.00M3.34M41.55M
Inventory ------
Receivables --227.00K82.00K3.85M3.04M
Total Liabilities -2.50M40.74M194.28M638.04M1.24B
Current Liabilities -2.50M29.00M115.46M554.11M558.14M
Long Term Debt --5.90M68.48M79.47M677.83M
Total Debt --13.54M91.81M135.73M702.88M
Total Equity -2.02M-2.58M72.26M59.52M124.83M633.73M
Shares Outstanding --97.87M100.93M144.08M234.20M

Cash Flows (Annual)

Figures in USD.

Metric May 2021May 2022May 2023May 2024May 2025
Operating Cash Flow -83.00K-872.00K58.73M13.79M-115.40M
Investing Cash Flow -3.30M-45.87M-132.09M-172.44M-667.65M
Financing Cash Flow 15.13M81.29M70.63M146.76M874.69M
Capital Expenditure -20.00K-54.97M-131.28M-141.81M-681.60M
Free Cash Flow -103.00K-55.85M-72.54M-128.01M-797.00M
Net Change in Cash -34.55M-2.73M-11.89M91.63M
Share Buybacks --0031.34M

Ratios (Annual)

Figures in %.

Metric May 2021May 2022May 2023May 2024May 2025
Gross Margin % --11.2%19.9%21.9%29.6%
Operating Margin % --244.4%-77.5%-11.0%-28.0%
Net Margin % --275.1%-80.6%-109.3%-160.2%
ROE % 22.0%-32.5%-75.0%-119.6%-36.5%
ROCE % -2.6%-23.0%-28.9%-7.2%-3.1%

Shareholding Pattern

Insiders
8.88%
Institutions
71.79%
Public Float
78.79%

Top Institutional Holders

#Holder% HeldSharesValue
1 Hood River Capital Management LLC 8.07% 23.08M $799.57M
2 Blackrock Inc. 7.31% 20.90M $724.05M
3 Vanguard Portfolio Management LLC 5.18% 14.81M $513.09M
4 Situational Awareness Partners LP 4.72% 13.48M $467.03M
5 Situational Awareness LP 4.72% 13.48M $467.03M
6 Vanguard Capital Management LLC 3.77% 10.78M $373.38M
7 Goldman Sachs Group Inc 2.80% 8.00M $277.35M
8 Value Aligned Research Advisors, LLC 2.33% 6.67M $231.06M
9 Geode Capital Management, LLC 2.24% 6.41M $222.16M
10 Dba Trading, LLC 1.95% 5.58M $193.22M

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for APLD

Yahoo Finance Mon, 13 Jul 2026

Applied Digital vs. TeraWulf: Which Neocloud Stock Is the Better Buy?

Applied Digital and TeraWulf are helping ease the AI computing power bottleneck.

Yahoo Finance Mon, 13 Jul 2026

Applied Digital: Is The $16 Billion AI Bet Worth The Risk?

The company is building the infrastructure for the AI boom with billions in contracted revenue, but you're buying into a costly construction project long before the profits arrive.

Yahoo Finance Fri, 10 Jul 2026

Google, Amazon Increase Data-Center Capacity Plans

The project pipeline for data centers in North America increased by 4% in June from May, with hyperscalers driving the growth.

Yahoo Finance Fri, 10 Jul 2026

APLD's Customer Concentration Remains High: Will it Limit Growth?

Applied Digital's AI data center expansion is backed by long-term leases, but heavy reliance on a few hyperscale customers raises long-term revenue and execution risks.

Yahoo Finance Fri, 10 Jul 2026

LRCX, APLD, KLAC: Why Chip Equipment Stocks Are Falling Premarket Today

Reuters reported on Thursday that Meta plans to begin manufacturing its AI chip starting in September, lifting ancillary firms' shares, but the rally fizzled.

Yahoo Finance hu, 09 Jul 2026

Analysts reveal investors are underestimating Bitcoin miners

Investors may be significantly underestimating the value of Bitcoin (BTC) mining companies that have pivoted toward artificial intelligence data centers. According to Compass Point analysts Michael Donovan and Ed Engel, the Bitcoin miners s…

APLD — Frequently Asked Questions

What is the current share price of Applied Digital Corporation (APLD)?

As of 2026-07-14 21:23 PDT, Applied Digital Corporation (APLD) trades at $28.47 on NasdaqGS. Its 52-week range is $9.52 to $49.65.

What is the market capitalisation of APLD?

Applied Digital Corporation (APLD) has a market capitalisation of $8.14B on NasdaqGS.

What is the P/E ratio of APLD?

APLD trades at a trailing price-to-earnings (P/E) ratio of -74.92. The industry average P/E is 36.02. Its price-to-book (P/B) ratio is 7.71.

What is the return on equity (ROE) of APLD?

APLD has a return on equity (ROE) of -5.56%. Its return on capital employed (ROCE) is -10.94%.

Is APLD a good stock to buy?

This page provides a data-driven analysis of Applied Digital Corporation (APLD), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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