APLD

Company Overview — What Does Applied Digital Corp. Do?

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services. 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. Applied Digital Corp. (APLD) is classified as a mid-cap stock in the Industrials sector, specifically within the Business Services industry. The company is led by CEO Wesley C. Cummins and employs approximately 121 people. With a market capitalization of $6.8B, APLD is one of the notable companies in the Industrials sector.

Applied Digital Corp. (APLD) Stock Rating — Reduce (April 2026)

As of April 2026, Applied Digital Corp. receives a Reduce rating with a composite score of 34.3/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.APLD ranks #3,097 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Applied Digital Corp. ranks #521 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

APLD Stock Price and 52-Week Range

Applied Digital Corp. (APLD) currently trades at $26.34. The stock gained $0.77 (3.0%) in the most recent trading session. The 52-week high for APLD is $42.27, which means the stock is currently trading -37.7% from its annual peak. The 52-week low is $3.31, putting the stock 695.7% above its annual trough. Recent trading volume was 26.4M shares, indicating strong institutional interest and high liquidity.

Is APLD Overvalued or Undervalued? — Valuation Analysis

Applied Digital Corp. (APLD) carries a value factor score of 36/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 4.86x, versus the sector average of 2.23x. The price-to-sales ratio is 22.89x, compared to 0.50x for the average Industrials stock.

At current multiples, Applied Digital Corp. trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Applied Digital Corp. Profitability — ROE, Margins, and Quality Score

Applied Digital Corp. (APLD) earns a quality factor score of 23/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -14.2%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -3.9% versus the sector average of 3.3%.

On a margin basis, Applied Digital Corp. reports gross margins of 14.8%, compared to 35.8% for the sector. The operating margin is -31.0% (sector: 6.2%). Net profit margin stands at -80.5%, versus 3.9% for the average Industrials stock. Revenue growth is running at 108.5% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

APLD Debt, Balance Sheet, and Financial Health

Applied Digital Corp. has a debt-to-equity ratio of 218.0%, compared to the Industrials sector average of 70.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 4.82x, indicating strong short-term liquidity.

APLD has a beta of 2.10, meaning it is more volatile than the broader market — a $10,000 investment in APLD would be expected to move 109.9% more than the S&P 500 on any given day. The stability factor score for Applied Digital Corp. is 15/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Applied Digital Corp. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Applied Digital Corp. reported revenue of $308M and earnings per share (EPS) of $-0.07. Net income for the quarter was $-206M. Gross margin was 14.8%. Operating income came in at $-91M.

In Q2 2026, Applied Digital Corp. reported revenue of $127M and earnings per share (EPS) of $-0.07. Net income for the quarter was $-14M. Gross margin was 20.6%. Revenue grew 98.2% year-over-year compared to Q2 2025. Operating income came in at $-31M.

In Q1 2026, Applied Digital Corp. reported revenue of $64M and earnings per share (EPS) of $-0.07. Net income for the quarter was $-17M. Gross margin was 13.4%. Revenue grew 5.8% year-over-year compared to Q1 2025. Operating income came in at $-22M.

In FY 2025, Applied Digital Corp. reported revenue of $144M and earnings per share (EPS) of $-1.16. Net income for the quarter was $-231M. Gross margin was 29.6%. Revenue grew -12.9% year-over-year compared to FY 2024. Operating income came in at $-17M.

Over the past 8 quarters, Applied Digital Corp. has demonstrated a growth trajectory, with revenue expanding from $166M to $308M. Investors analyzing APLD stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

APLD Dividend Yield and Income Analysis

Applied Digital Corp. (APLD) does not currently pay a dividend. This is common among smaller companies in the Business Services industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

APLD Momentum and Technical Analysis Profile

Applied Digital Corp. (APLD) has a momentum factor score of 58/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 21/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 39/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.

APLD vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Applied Digital Corp. (APLD) ranks #521 out of 752 stocks based on the Blank Capital composite score. This places APLD in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing APLD against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full APLD vs S&P 500 (SPY) comparison to assess how Applied Digital Corp. stacks up against the broader market across all factor dimensions.

APLD Next Earnings Date

No upcoming earnings date has been announced for Applied Digital Corp. (APLD) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy APLD? — Investment Thesis Summary

The quantitative profile for Applied Digital Corp. suggests caution. The quality score of 23/100 flags below-average profitability. The value score of 36/100 indicates premium valuation. High volatility (stability score 15/100) increases portfolio risk.

In summary, Applied Digital Corp. (APLD) earns a Reduce rating with a composite score of 34.3/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on APLD stock.

Related Resources for APLD Investors

Explore more research and tools: APLD vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare APLD head-to-head with peers: APLD vs SOBO, APLD vs TEN, APLD vs GLDD.