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DC Infra·APLD
Applied Digital Corporation
NASDAQ · US
Developer and operator of data centers and cloud services for AI, HPC, and accelerated compute workloads.
AI relevance
AI/HPC hosting and cloud infrastructure provider with large-scale data center capacity marketed to AI customers.
Price
$27.21
Change
-1.44 (-5.03%)
Market cap
$7.8B
52w range
$13–$51
Exchange
NASDAQ
Country
US
Jason's Chips
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Price chart
APLD market performance
Daily close for Applied Digital Corporation
- Latest close
- $27.21
- Range move
- +$11.44 (+72.5%)
- Range high
- $49.65
- Range low
- $13.89
- Latest volume
- 17.9M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
7 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
6 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
6 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
7 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
7 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1093 rowsFive years of daily close and volume data powering the company chart.
Transcript list
18 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus14 ratings
Strong buy
0
Buy
13
Hold
1
Sell
0
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2027-05-31 | $820.1M | $801.7M - $838.6M | $-0.77 | $-1.15 - $-0.31 | -$406.9M | -$535.9M | -$314.1M | $523.4M | 4 rev / 5 EPS |
| 2028-05-31 | $2.05B | $1.81B - $2.27B | $-0.19 | $-0.53 - $0.07 | -$1.02B | -$1.34B | -$67.0M | $1.31B | 4 rev / 4 EPS |
| 2029-05-31 | $3.36B | $2.92B - $3.79B | $1.39 | $-1.36 - $5.42 | -$1.67B | -$2.19B | -$320.9M | $2.14B | 2 rev / 3 EPS |
| 2030-05-31 | $6.93B | $5.88B - $7.67B | $0.37 | $0.30 - $0.42 | -$3.44B | -$4.53B | $101.8M | $4.42B | 1 rev / 1 EPS |
| 2031-05-31 | $7.95B | $6.74B - $8.80B | $0.00 | $0.00 - $0.00 | -$3.94B | -$5.19B | $0 | $5.07B | 1 rev / 2 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-08-31 | $111.1M | $110.9M - $111.2M | $-0.27 | $-0.45 - $-0.07 | -$55.1M | -$72.6M | -$76.8M | $70.9M | 3 rev / 3 EPS |
| 2026-11-30 | $157.8M | $153.1M - $162.5M | $-0.23 | $-0.42 - $-0.07 | -$78.3M | -$103.1M | -$65.8M | $100.7M | 3 rev / 3 EPS |
| 2027-02-28 | $194.2M | $161.9M - $212.3M | $-0.21 | $-0.24 - $-0.17 | -$96.3M | -$126.9M | -$61.2M | $123.9M | 1 rev / 1 EPS |
| 2027-05-31 | $244.3M | $203.7M - $267.1M | $-0.08 | $-0.09 - $-0.06 | -$121.2M | -$159.6M | -$22.0M | $155.9M | 1 rev / 1 EPS |
| 2027-08-31 | $319.1M | $266.1M - $348.9M | $-0.22 | $-0.25 - $-0.18 | -$158.3M | -$208.5M | -$63.8M | $203.6M | 1 rev / 1 EPS |
| 2027-11-30 | $394.9M | $329.3M - $431.9M | $-0.22 | $-0.24 - $-0.17 | -$195.9M | -$258.0M | -$61.9M | $252.1M | 1 rev / 1 EPS |
| 2028-02-29 | $489.8M | $408.5M - $535.6M | $-0.21 | $-0.24 - $-0.16 | -$243.0M | -$320.0M | -$60.0M | $312.6M | 1 rev / 1 EPS |
| 2028-05-31 | $545.3M | $454.7M - $596.3M | $-0.19 | $-0.21 - $-0.15 | -$270.5M | -$356.3M | -$54.3M | $348.0M | 1 rev / 2 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 2 | $37.00 |
| Last quarter | 6 | $68.00 |
| Last year | 27 | $53.74 |
| All time | 44 | $34.37 |
Sources: StreetInsider, Benzinga
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-08-06 | Morgan Stanley | Maintain | Equal Weight | Equal Weight |
| 2026-08-03 | B. Riley Securities | Maintain | Buy | Buy |
| 2026-07-28 | Needham | Maintain | Buy | Buy |
| 2026-06-17 | Northland Capital Markets | Maintain | Outperform | Outperform |
| 2026-06-09 | Craig-Hallum | Maintain | Buy | Buy |
| 2026-06-09 | Needham | Maintain | Buy | Buy |
| 2026-06-09 | Lake Street | Maintain | Buy | Buy |
| 2026-05-27 | B. Riley Securities | Maintain | Buy | Buy |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-08-01 | 2 | 8 | 1 | 0 | 0 |
| 2026-07-01 | 2 | 9 | 1 | 0 | 0 |
| 2026-06-01 | 2 | 9 | 0 | 0 | 0 |
| 2026-05-01 | 2 | 9 | 0 | 0 | 0 |
| 2026-04-01 | 2 | 10 | 0 | 0 | 0 |
| 2026-03-01 | 2 | 10 | 0 | 0 | 0 |
| 2026-02-01 | 2 | 10 | 0 | 0 | 0 |
| 2026-01-01 | 2 | 10 | 0 | 0 | 0 |
FinancialsFY 2026
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2026 | $611.3M | $157.7M | 25.8% | $0 | -$236.4M | -$84.6M | -$244.0M | $-0.91 |
| FY 2025 | $215.5M | $22.7M | 10.5% | $0 | -$72.3M | -$91.8M | -$231.1M | $-1.16 |
| FY 2024 | $136.6M | $30.0M | 21.9% | $0 | -$15.1M | -$34.2M | -$149.3M | $-1.31 |
| FY 2023 | $55.4M | $11.0M | 19.9% | $0 | -$44.1M | -$36.9M | -$44.6M | $-0.48 |
| FY 2022 | $8.5M | -$13.3M | -156.1% | $0 | -$20.9M | -$20.7M | -$23.5M | $-0.41 |
| FY 2021 | $0 | -$1,000 | -- | $0 | -$332,000 | -$331,000 | -$568,000 | $-0.06 |
| FY 2020 | $0 | $0 | -- | $0 | $0 | $0 | -$263,000 | $-0.17 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2026 | $89.7M | $2.87B | -$2.78B |
| FY 2025 | -$115.4M | $681.6M | -$797.0M |
| FY 2024 | $13.8M | $141.8M | -$128.0M |
| FY 2023 | $58.7M | $131.3M | -$72.5M |
| FY 2022 | -$872,000 | $55.0M | -$55.8M |
| FY 2021 | -$83,000 | $3.3M | -$3.4M |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | $1.59B | $56.3M | $0 | $4.44B | $9.93B | $5.10B | $3.51B | $6.19B | $1.78B |
| FY 2025 | $113.9M | $3.0M | $0 | $1.29B | $1.87B | $702.9M | $589.0M | $1.24B | $633.7M |
| FY 2024 | $3.3M | $3.8M | $0 | $339.4M | $762.9M | $135.7M | $132.4M | $638.0M | $124.8M |
| FY 2023 | $29.0M | $82,000 | $0 | $211.2M | $264.0M | $91.8M | $62.8M | $194.3M | $59.5M |
| FY 2022 | $38.8M | $227,000 | $0 | $70.7M | $120.0M | $13.5M | -$25.3M | $40.7M | $72.3M |
| FY 2021 | $11.8M | $0 | $0 | $3.3M | $15.1M | $2.1M | -$9.6M | $17.6M | -$2.6M |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | 25.8% | -38.7% | -39.9% | 4.0x | 4.0x | -13.7% | -2.7% | 27.3x | -197.3x | -21.0% | 0.0% | -285d |
| FY 2025 | 10.5% | -33.5% | -107.2% | 0.8x | 0.8x | -36.5% | -5.4% | 9.1x | -21.4x | -58.0% | 0.0% | -463d |
| FY 2024 | 21.9% | -11.0% | -109.3% | 0.7x | 0.7x | -119.6% | -5.8% | 4.5x | -18.0x | -26.5% | 0.0% | -347d |
| FY 2023 | 19.9% | -79.5% | -80.6% | 0.4x | 0.4x | -75.0% | -26.8% | 15.3x | -23.0x | -9.2% | 0.0% | -52d |
| FY 2022 | -156.1% | -244.4% | -275.1% | 1.4x | 1.4x | -32.5% | -22.4% | 29.3x | -12.1x | -20.2% | 0.0% | -211d |
| FY 2021 | 0.0% | 0.0% | 0.0% | 4.7x | 4.7x | 22.0% | -2.3% | 0.0x | -101.4x | -7.8% | 0.0% | -90885d |
| FY 2020 | 0.0% | 0.0% | 0.0% | 0.0x | 0.0x | 0.0% | 0.0% | 0.0x | 0.0x | 0.0% | 0.0% | 0d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | +183.7% | +594.7% | 0.0% | -227.1% | -5.6% | +21.6% | -248.3% | -320.4% | +1297.5% | 0.0% | +431.0% | +625.6% |
| FY 2025 | +57.7% | -24.3% | 0.0% | -379.9% | -54.8% | +11.5% | -522.6% | -380.6% | +3311.8% | 0.0% | +145.1% | +417.8% |
| FY 2024 | +146.6% | +172.3% | 0.0% | +65.8% | -234.4% | -172.9% | -76.5% | -8.0% | -88.5% | 0.0% | +189.0% | +47.8% |
| FY 2023 | +547.9% | +182.5% | 0.0% | -110.8% | -89.8% | -17.1% | -29.9% | -138.8% | -25.3% | 0.0% | +120.0% | +577.9% |
| FY 2022 | 0.0% | -1334200.0% | 0.0% | -6194.6% | -4040.8% | -583.3% | -1549.8% | -1564.9% | +230.2% | 0.0% | +697.1% | +534.4% |
| FY 2021 | 0.0% | 0.0% | 0.0% | 0.0% | -116.0% | +64.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| FY 2020 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
SegmentsFY 2022
Revenue Mix
Latest product mixFY 2022 · $51,000
Mining Segment$51,000 · 100.0%
Latest geography mix
Not available.
Product revenue annual
| Period | Total | Mining Segment |
|---|---|---|
| FY 2022 | $51,000 | $51,000 |
Geography revenue annual
No segment history on file.
Transcripts18 on file
Transcripts
Events
Events
Next earnings
2026-10-08EPS est $-0.27
Latest news
- Is Applied Digital an Excellent AI Stock to Buy Right Now?
The Motley Fool · 2026-08-21
- Applied Digital Has $36 Billion Today. $86 Billion Could Be Next.
The Motley Fool · 2026-08-21