Applied Digital Corporation (APLD) Key Metrics
APLD valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $5.46B
- Enterprise value
- $11.25B
- P/E (TTM)
- —
- Forward P/E
- 526.3
- PEG ratio
- 1.83
- Price / sales
- 6.3 10-yr median 10.1
- Price / book
- 4.5 10-yr median 5.6
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 6.00
APLD key metrics, FY2006–FY2026
Fiscal year ended May 31, 2026 · U.S. dollarsAPLD valuation Price multiples at each fiscal year-end price.
APLD returns How much profit the business earns on the capital it uses.
APLD per-share figures Results divided by the shares outstanding at year-end.
APLD financial health Debt, liquidity and how easily interest is covered.
APLD efficiency & capital use Working capital cycle and where the cash goes.
APLD valuation history
APLD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
APLD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
APLD cash returned to shareholders
APLD price vs earnings per share
APLD key metrics
FY2006–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $13.01B | $1.37B | $482.5M | $786.6M | — | — | — | — | — | — |
| Enterprise value | $16.52B | $1.96B | $614.9M | $849.4M | — | — | — | — | — | — |
| Price / sales | 21.3 | 6.0 | 3.5 | 14.2 | — | — | — | — | — | — |
| Price / book | 7.3 | 2.2 | 3.9 | 13.2 | — | — | — | — | — | — |
| Price / operating cash flow | 145.1 | — | 35.0 | 13.4 | — | — | — | — | — | — |
| EV / sales | 27.0 | 8.6 | 4.5 | 15.3 | — | — | — | — | — | — |
| EV / EBITDA | — | — | 25.9 | — | — | — | — | — | — | — |
| Earnings yield | −1.9% | −16.8% | −30.9% | −5.8% | — | — | — | — | — | — |
| Free cash flow yield | −21.3% | −58.0% | −26.5% | −9.2% | — | — | — | — | — | — |
| Dividend yield | 0.0% | 0.2% | 0.0% | 0.0% | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.1% | 2.5% | 0.2% | 0.0% | — | — | — | — | — | — |
| Share price at fiscal year-end | $47.28 | $6.83 | $4.23 | $8.37 | $4.83 | $5.94 | $0.04 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $2.22 | $1.14 | $1.20 | $0.59 | — | — | — | — | — | — |
| Earnings per share | −$0.89 | −$1.15 | −$1.31 | −$0.49 | — | — | — | — | — | — |
| Operating cash flow per share | $0.33 | −$0.57 | $0.12 | $0.62 | — | — | — | — | — | — |
| Free cash flow per share | −$10.09 | −$3.96 | −$1.12 | −$0.77 | — | — | — | — | — | — |
| Cash per share | $5.78 | $0.57 | $0.03 | $0.31 | — | — | — | — | — | — |
| Book value per share | $6.47 | $3.15 | $1.09 | $0.63 | — | — | — | — | — | — |
| Tangible book value per share | $6.27 | $3.15 | $1.09 | $0.63 | — | — | — | — | — | — |
| Dividends per share | $0.02 | $0.01 | $0.00 | $0.00 | — | — | — | — | — | — |
| Capex per share | $10.41 | $3.39 | $1.24 | $1.40 | — | — | — | — | — | — |
| Debt per share | $18.53 | $3.49 | $1.19 | $0.98 | — | — | — | — | — | — |
| Shares outstanding | 275.2M | 201.2M | 114.1M | 94.0M | — | — | — | — | — | — |
| Change in shares outstanding | +36.8% | +76.4% | +21.4% | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −20.2% | −60.9% | −161.9% | −69.2% | −67.5% | — | −10.2% | −148.9% | −56.0% | −30.6% |
| Return on invested capital (ROIC) | −5.7% | −7.7% | −6.3% | −41.1% | −94.9% | — | −8.2% | — | — | −295.7% |
| Return on assets (ROA) | −4.1% | −17.6% | −29.1% | −23.8% | −34.8% | −5.3% | −6.9% | −119.8% | −49.0% | −27.6% |
| Return on tangible assets | −2.5% | −12.4% | −19.6% | −17.3% | −19.6% | −3.8% | −7.7% | −274.5% | −70.7% | −32.6% |
| Free cash flow margin | −454.1% | −348.7% | −93.7% | −131.0% | −691.6% | — | — | −714.1% | −181.5% | −46.4% |
| Financial health | ||||||||||
| Total debt | $5.10B | $702.9M | $135.7M | $91.8M | $13.5M | $2.1M | $1.9M | — | — | — |
| Cash & short-term investments | $1.59B | $113.9M | $3.3M | $29.0M | $38.8M | $11.8M | $996,570 | $1.0M | $3.4M | $6.1M |
| Net debt | $3.51B | $589.0M | $132.4M | $62.8M | −$25.3M | −$9.6M | $902,430 | −$1.0M | −$3.4M | −$6.1M |
| Debt / equity | 2.86 | 1.11 | 1.09 | 1.54 | 0.19 | — | 0.43 | — | — | — |
| Debt / assets | 0.51 | 0.38 | 0.18 | 0.35 | 0.11 | 0.14 | 0.30 | — | — | — |
| Net debt / EBITDA | — | — | 5.58 | — | — | — | — | — | — | — |
| Current ratio | 4.01 | 0.77 | 0.73 | 0.40 | 1.39 | 4.70 | 1.31 | 2.36 | 6.39 | 7.99 |
| Quick ratio | 4.01 | 0.77 | 0.73 | 0.40 | 1.39 | 4.70 | 1.25 | 2.36 | 6.21 | 7.86 |
| Interest coverage | -8.0 | -2.0 | -0.8 | -22.2 | -186.6 | -1.4 | -1.0 | -27.6 | -12.1 | -104.3 |
| Working capital | $3.50B | −$127.6M | −$150.0M | −$69.7M | $11.4M | $9.2M | $623,571 | $650,494 | $3.2M | $5.8M |
| Invested capital | $5.29B | $1.22B | $257.2M | $122.3M | $47.0M | −$12.2M | $5.3M | −$214,936 | $236,587 | $179,859 |
| Tangible asset value | $3.69B | $633.7M | $124.8M | $69.7M | $79.2M | −$2.6M | $1.4M | $719,775 | $3.4M | $6.1M |
| Net current asset value | −$1.52B | −$805.8M | −$233.9M | −$148.5M | −$383,000 | −$5.9M | $623,571 | $650,494 | $3.2M | $5.8M |
| Graham net-net per share | −$16.54 | −$5.57 | −$5.55 | −$1.76 | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $6.3M | $2.6M | $0 | $0 | $11.0M | — | — | — | — | — |
| Share buybacks (net) | $1.2M | $31.3M | $861,000 | $168,000 | $0 | — | — | — | — | $0 |
| Capex / revenue | 468.8% | 298.2% | 103.8% | 237.0% | 681.4% | — | — | 20.0% | 5.2% | 3.4% |
| Capex / operating cash flow | 3,195.4% | — | 1,028.0% | 223.5% | — | — | — | — | — | — |
| Capex / depreciation | 42.53 | 6.96 | 1.79 | 18.06 | 52.01 | 3,302.00 | 3,302.00 | 0.21 | 0.89 | 1.22 |
| Stock-based compensation / revenue | 36.0% | 9.9% | 12.7% | 57.9% | 144.3% | — | — | — | — | — |
| R&D / revenue | — | — | 0.1% | — | — | — | — | 84.5% | 8.4% | 27.2% |
| SG&A / revenue | 54.3% | 47.2% | 72.1% | 99.4% | 232.7% | — | — | 707.0% | 196.7% | 67.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 17.7 | 5.5 | 5.2 | 1.0 | 4.8 | — | — | 92.0 | 27.8 | 25.7 |
| Days of inventory on hand | — | — | -4.6 | — | — | — | — | — | 27.6 | 15.9 |
| Days payables outstanding | 258.7 | 296.4 | 189.9 | 81.0 | 112.6 | 284,221.3 | — | 426.0 | 118.3 | 87.9 |
| Cash conversion cycle (days) | -241.0 | -290.9 | -189.2 | -80.0 | -107.8 | — | — | -333.9 | -62.9 | -46.2 |
| Receivables turnover | 20.60 | 66.35 | 69.54 | 358.52 | 75.32 | 0.00 | 0.00 | 3.97 | 13.13 | 14.19 |
| Payables turnover | 1.41 | 1.23 | 1.92 | 4.51 | 3.24 | 0.00 | — | 0.86 | 3.09 | 4.15 |
| Inventory turnover | — | — | — | — | — | — | — | — | 13.23 | 22.93 |
| Asset turnover | 0.10 | 0.17 | 0.27 | 0.29 | 0.13 | 0.00 | 0.00 | 0.12 | 0.27 | 0.47 |
| Average receivables | $29.7M | $3.4M | $2.0M | $154,500 | $113,500 | $654,188 | $686,386 | $84,967 | $117,769 | $272,808 |
| Average payables | $321.5M | $176.0M | $55.5M | $9.9M | $6.8M | $778,688 | $747,976 | $255,118 | $463,100 | $596,426 |
| Average inventory | — | — | −$1.3M | — | — | — | $121,916 | — | $108,044 | $108,044 |
| Intangibles / total assets | 0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 46.7% | 5.4% | 6.5% | 3.2% |
Computed from APLD's annual financial statements (latest annual report filed July 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
APLD valuation and financial ratios
Applied Digital earned a return on equity of −20.2% and a return on invested capital of −5.7% in fiscal 2026. It ended the year with $5.1 billion of debt and $1.6 billion in cash and short-term investments, net debt of $3.5 billion. It returned $7.4 million to shareholders: $6.3 million in dividends and $1.2 million in share buybacks.
See the APLD income statement, the APLD chart for price history, or the APLD stock overview for the latest quote and news.
APLD key metrics FAQ
What is Applied Digital's return on equity?
Applied Digital's return on equity (ROE) was −20.2% in fiscal 2026: net income of -$244.0 million on average shareholders' equity of $1.2 billion.
What is Applied Digital's ROIC?
Applied Digital's return on invested capital was −5.7% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Applied Digital have?
Applied Digital had total debt of $5.1 billion at the end of fiscal 2026, a debt-to-equity ratio of 2.86.
What is Applied Digital's dividend yield?
Applied Digital paid $6.3 million in dividends in fiscal 2026 ($0.02 per share), a payout ratio of —.
Does Applied Digital buy back its shares?
Yes. Applied Digital spent $1.2 million on net share repurchases in fiscal 2026 Shares outstanding changed +36.8% over the year, to 275.2M..
What is Applied Digital's free cash flow yield?
Applied Digital generated -$2.8 billion of free cash flow in fiscal 2026, a free cash flow yield of −21.3% on its market value at year-end ($13.0 billion).
What is Applied Digital's current ratio?
Applied Digital's current ratio was 4.01 at the end of fiscal 2026: current assets were 4.01 times current liabilities.