APLD Stock Analysis: Applied Digital | NASDAQ
Information Technology Services | NASDAQ, USA | Market Cap: 8.922m USD | 12M Return: 239.5% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 793M
Qual. Beats: 1
Rev. Trend: 96.1%
Qual. Beats: 3
Warnings
Tailwinds
Seasonality 10.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Applied Digital Corporation (NASDAQ: APLD) is a Dallas, Texas-based digital infrastructure operator serving high-performance computing (HPC) and artificial intelligence customers across North America. The firm operates through two segments-a Data Center Hosting Business and an HPC Hosting Business-and was previously named Applied Blockchain, Inc. before rebranding in November 2022, reflecting a strategic pivot away from a pure crypto-mining focus toward AI and HPC workloads.
Its service portfolio spans hosting infrastructure for crypto mining customers, GPU compute capacity for AI, machine learning, and other HPC tasks, and end-to-end data center design, construction, and management for HPC deployments. The company is classified within the GICS Information Technology sector (Application Software sub-industry) and trades as a large-cap U.S. common stock with a market capitalization of approximately $13.1 billion USD.
Applied Digital has a lease agreement with CoreWeave-one of the largest independent GPU cloud providers supporting large-scale AI training and inference-for an additional 150MW of capacity at its Polaris Forge 1 Campus in Ellendale, North Dakota. The agreement illustrates the broader industry trend of third-party operators building purpose-built data centers to meet surging compute demand from AI and HPC customers.
- CoreWeave 150MW lease anchors HPC hosting revenue at Polaris Forge
- AI infrastructure demand accelerates data center segment growth
- Heavy capex and equity dilution pressure margins amid AI buildout
| Net Income: -186.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.29 > 0.02 and ΔFCF/TA 11.69 > 1.0 |
| NWC/Revenue: 396.4% < 20% (prev -62.07%; Δ 458.5% < -1%) |
| CFO/TA -0.01 > 3% & CFO -36.0m > Net Income -186.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (271.7m) vs 12m ago 22.12% < -2% |
| Gross Margin: 27.07% > 18% (prev 12.33%; Δ 14.74% > 0.5%) |
| Asset Turnover: 8.94% > 50% (prev 11.26%; Δ -2.32% > 0%) |
| Interest Coverage Ratio: -3.67 > 6 (EBIT TTM -131.0m / Interest Expense TTM 35.7m) |
| A: 0.23 (Total Current Assets 2.43b - Total Current Liabilities 1.02b) / Total Assets 6.25b |
| B: -0.09 (Retained Earnings -583.1m / Total Assets 6.25b) |
| C: -0.03 (EBIT TTM -131.0m / Avg Total Assets 3.98b) |
| D: 0.43 (Book Value of Equity 1.58b / Total Liabilities 3.68b) |
| Altman-Z'' = 1.41 = BB |
| DSRI: 0.77 (Receivables 20.8m/14.6m, Revenue 355.5m/192.2m) |
| GMI: 0.46 (GM 12.33% / 27.07%) |
| AQI: 3.84 (AQ_t 0.10 / AQ_t-1 0.02) |
| SGI: 1.85 (Revenue 355.5m / 192.2m) |
| TATA: -0.02 (NI -186.3m - CFO -36.0m) / TA 6.25b) |
| Beneish M = -1.42 (Cap -4..+1) = D |
As of July 10, 2026, the stock is trading at USD 32.29 with a total of 16,542,934 shares traded. Over the past week, the price has changed by -9.09%, over one month by -22.95%, over three months by +26.28% and over the past year by +239.54%.
Current recommended Stop Loss: 26.40 (which is 18.2% or 1.6 ATR below the current price).
Applied Digital has received a consensus analysts rating of 4.44. Therefore, it is recommended to buy APLD.
- StrongBuy: 5
- Buy: 3
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 73.4 | 127.2% |
P/E Forward = 526.3158
P/S = 27.5018
P/B = 5.9748
P/EG = 1.8288
Revenue TTM = 355.5m USD
EBIT TTM = -131.0m USD
EBITDA TTM = -93.4m USD
Long Term Debt = 2.59b USD (from longTermDebt, last quarter)
Short Term Debt = 167.4m USD (from shortTermDebt, last quarter)
Debt = 2.96b USD (from shortLongTermDebtTotal, last quarter) + Leases 134.8m
Net Debt = 1.23b USD (calculated: Debt 2.96b - CCE 1.73b)
Enterprise Value = 10.2b USD (8.92b + Debt 2.96b - CCE 1.73b)
Interest Coverage Ratio = -3.67 (Ebit TTM -131.0m / Interest Expense TTM 35.7m)
EV/FCF = -5.61x (Enterprise Value 10.2b / FCF TTM -1.81b)
FCF Yield = -17.84% (FCF TTM -1.81b / Enterprise Value 10.2b)
FCF Margin = -509.5% (FCF TTM -1.81b / Revenue TTM 355.5m)
Net Margin = -52.41% (Net Income TTM -186.3m / Revenue TTM 355.5m)
Gross Margin = 27.07% ((Revenue TTM 355.5m - Cost of Revenue TTM 259.2m) / Revenue TTM)
Gross Margin QoQ = 42.49% (prev 20.57%)
Tobins Q-Ratio = 1.63 (Enterprise Value 10.2b / Total Assets 6.25b)
Interest Expense / Debt = 1.20% (Interest Expense 35.7m / Debt 2.96b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -103.5m (EBIT -131.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.38 (Total Current Assets 2.43b / Total Current Liabilities 1.02b)
Debt / Equity = 1.87 (Debt 2.96b / totalStockholderEquity, last quarter 1.58b)
Debt / EBITDA = -13.19 (negative EBITDA) (Net Debt 1.23b / EBITDA -93.4m)
Debt / FCF = -0.68 (negative FCF - burning cash) (Net Debt 1.23b / FCF TTM -1.81b)
Total Stockholder Equity = 1.18b (last 4 quarters mean from totalStockholderEquity)
RoA = -4.68% (Net Income -186.3m / Total Assets 6.25b)
RoE = -15.82% (Net Income TTM -186.3m / Total Stockholder Equity 1.18b)
RoCE = -3.47% (EBIT -131.0m / Capital Employed (Equity 1.18b + L.T.Debt 2.59b))
RoIC = -1.92% (negative operating profit) (NOPAT -103.5m / Invested Capital 5.38b)
WACC = 15.63% (E(8.92b)/V(11.9b) * Re(20.50%) + D(2.96b)/V(11.9b) * Rd(1.20%) * (1-Tc(0.21)))
Discount Rate = 20.50% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 86.67 | Cagr: 49.66%
[DCF] Fair Price = unknown (Cash Flow -1.81b)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.94 | # QB: 1
Revenue Correlation: 96.12 | Revenue CAGR: 72.43% | SUE: 2.33 | # QB: 3
EPS current Quarter (2026-08-31): EPS=-0.28 | Chg30d=-52.78% | Revisions=+0% | Analysts=2
EPS current Year (2026-05-31): EPS=-0.33 | Chg30d=N/A | Revisions=+0% | GrowthEPS=-3.1% | GrowthRev=+94.9%
EPS next Year (2027-05-31): EPS=-0.96 | Chg30d=-37.86% | Revisions=+0% | GrowthEPS=-192.4% | GrowthRev=+76.0%
[Analyst] Revisions Ratio: +0% (up=0, down=0)