APLDNasdaqServices-Computer Processing & Data PreparationFiscal year ends May 31
Applied Digital Corp.
Financials through Q1 FY2027, quarter ended Aug 31, 2026Last filing: 10-Q on Oct 7, 2026
$19.25+1.20 (+6.65%)
Close on Oct 19, 2026
- Market cap
- $5.61B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2026
Gross margin
35.1%
Operating margin
-38.7%
Net margin
–
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +167.5% | +122.6% | – | – | |
| Gross profit | +1715.9% | +169.1% | – | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | – | 24.7% | – | |
| Return on assets | – | – | – | |
| Current ratio | – | 4.70 | 4.01 | |
| Debt to equity | – | 0.00 | 2.89 | |
| Net debt to EBITDA | – | 35.50× | -19.92× | |
| Interest coverage | – | -1.4× | -8.0× | |
| Capex to revenue | – | – | 468.8% | |
| Diluted shares | – | 2M | 275M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Applied Digital generated $278.49M from operations and spent $3.91B on capital expenditure, dividends and share buybacks. 99% of that went back into the business.
Generated
$278.49M
Used
$3.91B
Capital expenditure$3.88B99%Dividends$00%Share buybacks$31.34M1%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-90.2%
×Asset turnover0.32×
×Equity multiplier5.57×
=Return on equity, FY2024-161.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -90.2% | 0.32× | 5.57× | -161.9% |
| FY2023 | -80.6% | 0.29× | 2.91× | -67.8% |
| FY2022 | -275.1% | 0.13× | 1.94× | -67.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
4of 6 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$89.69M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$89.69M vs –
- Less leverageLong-term debt to assets fell36.2% → 49.9%
- Better liquidityCurrent ratio rose0.27 → 4.01
- No dilutionShare count did not rise201M → 275M
- Gross margin improvedGross margin up on the prior year5.17% → 35.08%
- More efficientAsset turnover rose0.30 → 0.33