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Applied Digital Corporation (APLD) 10-Year Financial Performance & Capital Metrics

APLD • • Industrial / General
TechnologyIT ServicesData Center & Cloud InfrastructureData Center Operators
AboutApplied Digital Corporation designs, develops, and operates digital infrastructure solutions and cloud services high-performance computing (HPC) and artificial intelligence industries in North America. It operates through three segments: Data Center Hosting Business, Cloud Services 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 is based in Dallas, Texas.Show more
  • Revenue $216M +57.7%
  • EBITDA $11M +76.7%
  • Net Income -$231M -54.8%
  • EPS (Diluted) -1.16 +11.5%
  • Gross Margin 10.53% -52.0%
  • EBITDA Margin 5.26% +12.0%
  • Operating Margin -33.53% -204.2%
  • Net Margin -107.22% +1.9%
  • ROE -60.92% +60.3%
  • ROIC -7.32% -26.4%
  • Debt/Equity 1.11 +2.0%
  • Interest Coverage -4.05 -401.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 97 (top 3%)
  • ✓Strong 5Y sales CAGR of 264.1%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Shares diluted 76.4% in last year
  • ✗Expensive at 11.2x book value
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y69.62%
5Y264.06%
3Y193.21%
TTM54.24%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM54.66%

EPS CAGR

10Y-
5Y-
3Y-
TTM69.68%

ROCE

10Y Avg-33.98%
5Y Avg-20.01%
3Y Avg-18.24%
Latest-9.5%

Peer Comparison

Data Center Operators
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
TSSITSS, Inc.321.91M11.1646.50172.33%2.08%7.69%2.12%4.58
VNETVNET Group, Inc.3.03B11.4917.4111.41%-5.97%-7.48%2.67
SAIHWSAIHEAT Limited17.98K0.03-0.01-18.2%-106.19%-37.75%0.19
SAIHSAIHEAT Limited11.04M8.71-2.52-18.2%-106.19%-37.75%0.19
GDSGDS Holdings Limited8.08B43.40-9.523.67%50.05%20.93%1.88
APLDApplied Digital Corporation9.85B35.22-30.3657.74%-43.49%-6.23%1.11

Profit & Loss

May 2004May 2005May 2006May 2007May 2008May 2021May 2022May 2023May 2024May 2025
Sales/Revenue+3.59M3.31M3.87M1.55M337K08.55M55.39M136.62M215.51M
Revenue Growth %2.29%-0.08%0.17%-0.6%-0.78%-1%-5.48%1.47%0.58%
Cost of Goods Sold+2.48M2.36M2.48M1.43M218.61K1K21.89M44.39M106.65M192.81M
COGS % of Revenue0.69%0.71%0.64%0.92%0.65%-2.56%0.8%0.78%0.89%
Gross Profit+1.11M951.44K1.39M117.91K118.39K-1K-13.34M11M29.96M22.7M
Gross Margin %0.31%0.29%0.36%0.08%0.35%--1.56%0.2%0.22%0.11%
Gross Profit Growth %3.74%-0.15%0.46%-0.92%0%-1.01%-13342%1.82%1.72%-0.24%
Operating Expenses+1.56M2.56M3.65M3.17M2.82M331K7.55M55.06M45.02M94.95M
OpEx % of Revenue0.43%0.77%0.94%2.05%8.35%-0.88%0.99%0.33%0.44%
Selling, General & Admin1.39M2M2.59M3.04M2.53M331K7.55M55.06M45.02M94.95M
SG&A % of Revenue0.39%0.6%0.67%1.97%7.51%-0.88%0.99%0.33%0.44%
Research & Development170.83K557.14K1.05M130.23K284.72K00000
R&D % of Revenue0.05%0.17%0.27%0.08%0.84%-----
Other Operating Expenses0000000000
Operating Income+-448.07K-1.61M-2.25M-3.05M-2.7M-332K-20.9M-44.05M-15.05M-72.25M
Operating Margin %-0.12%-0.49%-0.58%-1.97%-8%--2.44%-0.8%-0.11%-0.34%
Operating Income Growth %0.53%-2.59%-0.4%-0.36%0.12%0.88%-61.95%-1.11%0.66%-3.8%
EBITDA+-360.01K-1.48M-2.15M-2.96M-2.62M-331K-19.78M-36.79M6.42M11.35M
EBITDA Margin %-0.1%-0.45%-0.55%-1.92%-7.79%--2.31%-0.66%0.05%0.05%
EBITDA Growth %0.59%-3.12%-0.45%-0.38%0.11%0.87%-58.75%-0.86%1.17%0.77%
D&A (Non-Cash Add-back)88.05K125.66K108K90.87K73.18K1K1.12M7.27M21.48M83.6M
EBIT-408.32K-1.38M-2.23M-2.8M-3.28M-332K-21.83M-44.15M-55.64M-175.42M
Net Interest Income+39.75K223.59K283.95K240.92K97.59K-236K-112K-1.98M-17.71M-14.74M
Interest Income39.75K223.59K283.95K240.92K97.59K000931K3.12M
Interest Expense00000236K112K1.98M18.64M17.86M
Other Income/Expense39.75K223.59K21.61K252.94K-582.42K-236K-1.05M-2.07M-59.23M-131.35M
Pretax Income+-408.32K-1.38M-2.23M-2.8M-3.28M-568K-21.95M-46.13M-74.28M-203.61M
Pretax Margin %-0.11%-0.42%-0.58%-1.81%-9.73%--2.57%-0.83%-0.54%-0.94%
Income Tax+15.89K27.66K24.8K-13.59K7.14K0540K-523K96K102K
Effective Tax Rate %1.04%1.02%1.01%1%1%1%1.07%0.97%2.01%1.13%
Net Income+-424.21K-1.41M-2.26M-2.79M-3.29M-568K-23.52M-44.65M-149.27M-231.06M
Net Margin %-0.12%-0.43%-0.58%-1.8%-9.75%--2.75%-0.81%-1.09%-1.07%
Net Income Growth %0.55%-2.33%-0.6%-0.24%-0.18%0.83%-40.41%-0.9%-2.34%-0.55%
Net Income (Continuing)-424.21K-1.41M-2.26M-2.79M-3.29M-568K-22.49M-45.61M-74.38M-203.71M
Discontinued Operations000000-1.04M0-75.3M-27.36M
Minority Interest0000006.98M10.16M00
EPS (Diluted)+-0.42-1.02-1.62-2.04-2.34-0.06-0.41-0.48-1.31-1.16
EPS Growth %0.71%-1.43%-0.59%-0.26%-0.15%0.97%-5.83%-0.17%-1.73%0.11%
EPS (Basic)-0.42-1.02-1.62-2.04-2.34-0.06-0.41-0.48-1.31-1.16
Diluted Shares Outstanding1.03M1.37M1.37M1.37M1.39M8.9M57.12M93.98M114.06M201.19M
Basic Shares Outstanding1.03M1.37M1.37M1.37M1.39M8.9M57.12M93.98M114.06M201.19M
Dividend Payout Ratio----------

Balance Sheet

May 2004May 2005May 2006May 2007May 2008May 2021May 2022May 2023May 2024May 2025
Total Current Assets+9.81M7.96M6.65M3.79M1.13M11.75M40.36M45.76M404.14M430.59M
Cash & Short-Term Investments2.18M7.39M6.15M3.39M1M11.75M38.8M29M3.34M113.92M
Cash Only2.18M2.52M145.57K2.44M877.9K11.75M38.8M29M3.34M113.92M
Short-Term Investments04.87M6M950K125K00000
Accounts Receivable726.52K415.62K130K105.54K64.4K0227K82K3.85M3.04M
Days Sales Outstanding73.7945.8212.2624.969.75-9.690.5410.285.15
Inventory6.87M108.04K108.04K108.04K000000
Days Inventory Outstanding1.01K16.7115.9227.6------
Other Current Assets28.84K51.72K264.75K183.03K00-113K16.68M396.96M313.63M
Total Non-Current Assets+909.24K1.22M509.03K432.71K137.47K3.3M79.62M218.2M358.72M1.44B
Property, Plant & Equipment259.25K208.56K181.61K126.85K38.82K3.3M70.67M211.19M339.37M1.29B
Fixed Asset Turnover13.86x15.87x21.31x12.19x8.68x-0.12x0.26x0.40x0.17x
Goodwill0000000000
Intangible Assets149.99K180.56K230.75K275.17K68.19K00000
Long-Term Investments0500K96.67K30.69K30.46K0001.2M7M
Other Non-Current Assets500K830.01K96.67K30.69K30.46K08.95M1.37M18.15M137.88M
Total Assets+10.72M9.18M7.16M4.22M1.27M15.05M119.98M263.96M762.87M1.87B
Asset Turnover0.34x0.36x0.54x0.37x0.27x-0.07x0.21x0.18x0.12x
Asset Growth %6.05%-0.14%-0.22%-0.41%-0.7%10.9%6.97%1.2%1.89%1.45%
Total Current Liabilities+757.17K769.65K831.97K592.74K477.31K2.5M29M115.46M554.11M558.14M
Accounts Payable615.91K589.31K603.54K322.66K187.57K249K13.26M6.45M104.53M247.53M
Days Payables Outstanding90.6491.1788.9282.42313.1890.89K221.0853.01357.73468.59
Short-Term Debt0000001.33M7.95M45.92M10.33M
Deferred Revenue (Current)0000001000K1000K1000K1000K
Other Current Liabilities00000116K00336.52M240.29M
Current Ratio12.95x10.35x7.99x6.39x2.36x4.70x1.39x0.40x0.73x0.77x
Quick Ratio3.88x10.21x7.86x6.21x2.36x4.70x1.39x0.40x0.73x0.77x
Cash Conversion Cycle994.38-28.63-60.74-29.92------
Total Non-Current Liabilities+615.91K589.31K603.54K322.66K187.57K15.13M11.75M78.82M83.92M678.22M
Long-Term Debt0000005.9M68.48M79.47M677.83M
Capital Lease Obligations0000005.31M9.34M4.45M396K
Deferred Tax Liabilities000000540K5.64M00
Other Non-Current Liabilities0000015.13M01M00
Total Liabilities757.17K769.65K831.97K592.74K477.31K17.64M40.74M194.28M638.04M1.24B
Total Debt+000002.13M13.54M91.81M135.73M702.88M
Net Debt-2.18M-2.52M-145.57K-2.44M-877.9K-9.62M-25.25M62.81M132.39M588.96M
Debt / Equity------0.17x1.32x1.09x1.11x
Debt / EBITDA--------21.14x61.95x
Net Debt / EBITDA--------20.62x51.91x
Interest Coverage------1.41x-186.59x-22.25x-0.81x-4.05x
Total Equity+9.96M8.41M6.33M3.63M787.96K-2.58M79.23M69.68M124.83M633.73M
Equity Growth %7.68%-0.16%-0.25%-0.43%-0.78%-4.28%31.68%-0.12%0.79%4.08%
Book Value per Share9.656.144.622.650.57-0.291.390.741.093.15
Total Shareholders' Equity9.96M8.41M6.33M3.63M787.96K-2.58M72.26M59.52M124.83M633.73M
Common Stock8.33K8.33K8.33K8.33K8.43K9K98K101K144K230K
Retained Earnings-2.88M-4.3M-6.55M-9.34M-12.63M-21.62M-56.07M-100.72M-249.99M-481.06M
Treasury Stock0-199.83K-199.83K-165.46K-62.37K-62K-62K-62K-62K-31.4M
Accumulated OCI-270.23K-168.79K00000000
Minority Interest0000006.98M10.16M00

Cash Flow

May 2004May 2005May 2006May 2007May 2008May 2021May 2022May 2023May 2024May 2025
Cash from Operations+-406.46K-1.4M-1.66M-2.73M-2.34M-83K-872K58.73M13.79M-115.4M
Operating CF Margin %-0.11%-0.42%-0.43%-1.76%-6.94%--0.1%1.06%0.1%-0.54%
Operating CF Growth %0.53%-2.45%-0.19%-0.64%0.14%0.96%-9.51%68.36%-0.77%-9.37%
Net Income-424.21K-1.41M-2.26M-2.79M-3.29M-568K-22.49M-45.61M-149.67M-231.06M
Depreciation & Amortization88.05K125.66K108K90.87K323.02K1K1.12M7.61M79.36M97.94M
Stock-Based Compensation00000012.34M32.07M17.36M22.7M
Deferred Taxes000000540K-540K00
Other Non-Cash Items62.96K22.18K116.54K38.12K565.98K236K-9.19M504K60.67M144.4M
Working Capital Changes-133.26K-137.55K368.28K-67.06K58.2K248K16.81M64.69M6.07M-149.38M
Change in Receivables0-19.11K518.95K90.44K41.38K0-227K145K-3.77M-2.93M
Change in Inventory0-108.04K00000000
Change in Payables0000006.42M-13.75M41.84M-78.26M
Cash from Investing+-7.75M-84.85K1.32M5.02M777.09K-3.3M-45.87M-132.09M-172.44M-667.65M
Capital Expenditures-224.81K-105.54K-131.23K-80.54K-67.41K-3.3M-54.97M-131.28M-141.81M-681.6M
CapEx % of Revenue0.06%0.03%0.03%0.05%0.2%-6.43%2.37%1.04%3.16%
Acquisitions----------
Investments----------
Other Investing-29.78K00019.5K09.1M0-30.24M18.82M
Cash from Financing+9.29M-199.83K3300015.13M81.29M70.63M146.76M874.69M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid000000000-2.62M
Share Repurchases----------
Other Financing00000-1.36M-311K1.86M-1.47M-175.12M
Net Change in Cash----------
Free Cash Flow+-631.26K-1.51M-1.8M-2.81M-2.41M-3.38M-55.85M-72.54M-128.01M-797M
FCF Margin %-0.18%-0.46%-0.46%-1.81%-7.14%--6.53%-1.31%-0.94%-3.7%
FCF Growth %0.27%-1.39%-0.19%-0.56%0.14%-0.41%-15.5%-0.3%-0.76%-5.23%
FCF per Share-0.61-1.10-1.31-2.05-1.73-0.38-0.98-0.77-1.12-3.96
FCF Conversion (FCF/Net Income)0.96x0.99x0.74x0.98x0.71x0.15x0.04x-1.32x-0.09x0.50x
Interest Paid0000000017.78M62.71M
Taxes Paid000000005K105K

Key Ratios

Metric2004200520062007200820212022202320242025
Return on Equity (ROE)-7.64%-15.37%-30.63%-56.04%-148.89%--61.37%-59.96%-153.49%-60.92%
Return on Invested Capital (ROIC)-8.52%-17.64%-28.01%-62.21%-368.86%--75.02%-35.44%-5.79%-7.32%
Gross Margin30.99%28.74%35.99%7.62%35.13%--156.08%19.87%21.93%10.53%
Net Margin-11.8%-42.64%-58.34%-180.26%-975.18%--275.12%-80.6%-109.26%-107.22%
Debt / Equity------0.17x1.32x1.09x1.11x
Interest Coverage------1.41x-186.59x-22.25x-0.81x-4.05x
FCF Conversion0.96x0.99x0.74x0.98x0.71x0.15x0.04x-1.32x-0.09x0.50x
Revenue Growth228.77%-7.87%16.89%-60.03%-78.21%-100%-547.94%146.64%57.74%

Revenue by Segment

2022
Mining51K
Mining Growth-

Frequently Asked Questions

Growth & Financials

Applied Digital Corporation (APLD) reported $281.7M in revenue for fiscal year 2025. This represents a 57394% increase from $0.5M in 2002.

Applied Digital Corporation (APLD) grew revenue by 57.7% over the past year. This is strong growth.

Applied Digital Corporation (APLD) reported a net loss of $122.5M for fiscal year 2025.

Dividend & Returns

Applied Digital Corporation (APLD) does not currently pay a meaningful dividend. The company may be reinvesting profits for growth.

Applied Digital Corporation (APLD) has a return on equity (ROE) of -60.9%. Negative ROE indicates the company is unprofitable.

Applied Digital Corporation (APLD) had negative free cash flow of $1.34B in fiscal year 2025, likely due to heavy capital investments.

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