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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
$46.59
Change
+1.02 (+2.24%)
Market cap
$13.3B
52w range
$9–$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
- $46.59
- Range move
- +$35.98 (+339.1%)
- Range high
- $49.65
- Range low
- $9.18
- Latest volume
- 14.6M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
6 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
5 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
5 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
6 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
6 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1049 rowsFive years of daily close and volume data powering the company chart.
Transcript list
17 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus13 ratings
Strong buy
0
Buy
13
Hold
0
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 | $818.7M | $723.3M - $914.2M | $-0.73 | $-4.57 - $3.15 | -$219.7M | -$330.5M | -$325.5M | $597.3M | 5 rev / 3 EPS |
| 2028-05-31 | $2.06B | $1.53B - $2.41B | $-0.21 | $-0.28 - $-0.11 | -$553.9M | -$833.0M | -$39.9M | $1.51B | 5 rev / 3 EPS |
| 2029-05-31 | $3.34B | $2.48B - $3.89B | $1.05 | $-1.67 - $6.15 | -$896.3M | -$1.35B | $302.0M | $2.44B | 2 rev / 3 EPS |
| 2030-05-31 | $6.93B | $5.15B - $8.07B | $0.37 | $0.25 - $0.45 | -$1.86B | -$2.80B | $74.4M | $5.05B | 1 rev / 1 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-08-28 | $112.8M | $102.7M - $120.5M | $-0.27 | $-0.30 - $-0.24 | -$30.3M | -$45.5M | -$74.1M | $82.3M | 3 rev / 1 EPS |
| 2026-11-28 | $160.3M | $146.0M - $171.2M | $-0.21 | $-0.23 - $-0.18 | -$43.0M | -$64.7M | -$56.7M | $116.9M | 1 rev / 1 EPS |
| 2027-02-28 | $189.0M | $172.1M - $201.9M | $-0.20 | $-0.22 - $-0.18 | -$50.7M | -$76.3M | -$54.3M | $137.9M | 2 rev / 1 EPS |
| 2027-05-28 | $223.9M | $203.9M - $239.2M | $-0.15 | $-0.16 - $-0.13 | -$60.1M | -$90.4M | -$39.6M | $163.3M | 2 rev / 1 EPS |
| 2027-08-28 | $296.6M | $270.2M - $316.9M | $-0.29 | $-0.32 - $-0.26 | -$79.6M | -$119.7M | -$78.8M | $216.4M | 2 rev / 1 EPS |
| 2027-11-28 | $341.3M | $310.9M - $364.6M | $-0.30 | $-0.33 - $-0.27 | -$91.6M | -$137.8M | -$81.5M | $249.0M | 2 rev / 1 EPS |
| 2028-02-28 | $406.5M | $370.3M - $434.3M | $-0.31 | $-0.34 - $-0.27 | -$109.1M | -$164.1M | -$84.2M | $296.6M | 1 rev / 1 EPS |
| 2028-05-28 | $431.7M | $393.2M - $461.2M | $-0.26 | $-0.28 - $-0.23 | -$115.9M | -$174.2M | -$70.6M | $314.9M | 1 rev / 1 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 5 | $80.80 |
| Last quarter | 9 | $72.89 |
| Last year | 25 | $55.08 |
| All time | 42 | $34.25 |
Sources: TheFly, StreetInsider, Benzinga
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-06-17 | Northland Capital Markets | Maintain | Outperform | Outperform |
| 2026-06-09 | Craig-Hallum | Maintain | Buy | Buy |
| 2026-06-09 | Lake Street | Maintain | Buy | Buy |
| 2026-06-09 | Needham | Maintain | Buy | Buy |
| 2026-05-27 | B. Riley Securities | Maintain | Buy | Buy |
| 2026-05-21 | Lake Street | Maintain | Buy | Buy |
| 2026-05-21 | Needham | Maintain | Buy | Buy |
| 2026-05-21 | Citizens | Maintain | Market Outperform | Market Outperform |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 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 |
| 2025-12-01 | 2 | 8 | 0 | 0 | 0 |
| 2025-11-01 | 3 | 8 | 0 | 0 | 0 |
FinancialsFY 2025
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| 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 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 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 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 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.
Transcripts17 on file
Transcripts
Events
Events
Next earnings
2026-08-20EPS est $-0.17
Latest news
- Could Applied Digital (APLD) Stock Triple by 2030?
The Motley Fool · 2026-06-20
- APLD's Customer Concentration Remains Elevated: Is Growth at Risk?
Zacks Investment Research · 2026-06-17