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APLD · Nasdaq · United States · Services-Computer Processing & Data Preparation
In shortApplied Digital Corp. is loss-making, burns cash and carries heavy debt, with revenue growing (+167.5% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -38.7% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -40.9% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -22.6% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -2.8% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 4.01× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 2.89× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -8.01× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 2.23 | 29/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -454.1% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 0 of 4 | 100/100 |
| Revenue growth volatility | 218.0% | 0/100 |
| Operating margin volatility | 88.0% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 122.6% | 100/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
1 older year available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8.5 | 55 | 166 | 229 | 611 |
| Cost of revenue | 9.5 | 44 | 148 | 217 | 397 |
| Gross profit | (1) | 11 | 17 | 12 | 214 |
| Selling, general & admin | 20 | 54 | 98 | 108 | 332 |
| Operating income | (21) | (43) | (98) | (72) | (236) |
| Interest expense | 0.1 | 2 | 27 | 32 | 30 |
| Pre-tax income | (22) | (45) | (150) | (231) | (182) |
| Income tax | 0.5 | (0.5) | 0.1 | 0.1 | 1.8 |
| Net income | (24) | (45) | (149) | (234) | (250) |
| Diluted EPS | −$0.41 | −$0.47 | −$1.31 | −$1.16 | −$0.91 |
| Diluted shares (millions) | 57 | 94 | 114 | 201 | 275 |
1 older year available with the 10-year history. Essential plan, from €8.25/month →
2.23 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Aug 31, 2026 · Data updated Oct 7, 2026