APLD NASDAQ
Applied Digital Corp.
1W: +0.9%
1M: -20.5%
3M: -16.0%
YTD: -30.6%
1Y: -41.6%
3Y: +316.0%
$19.51
+1.68 (+9.42%)
Weekly Expected Move ±12.0%
$14
$16
$18
$20
$23
Credit Risk of going bust: higher than 93% of companies Debt: 52.4% of company value Bonds: $363.9M held by 331 funds, 312 bp over Treasuries → details ▾
Of US companies ranked in the riskiest tenth, about 1 in 20 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $3.06 (down 84%), Applied Digital Corp. would be worth roughly what it owes.
Total debt $6.48B against a stock market value of $5.90B.
Distance to default 1.18 (Merton model): prices to 2026-10-27, balance sheet 2026-08-31, debt counted $3.24B (short-term plus half of long-term), stock volatility 101.0%; Altman Z'' 1.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $3.06 (down 84%), Applied Digital Corp. would be worth roughly what it owes.
Total debt $6.48B against a stock market value of $5.90B.
Distance to default 1.18 (Merton model): prices to 2026-10-27, balance sheet 2026-08-31, debt counted $3.24B (short-term plus half of long-term), stock volatility 101.0%; Altman Z'' 1.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Total Assets
$9.9B
+431.0% ▲
5Y CAGR: +266.3%
Total Liabilities
$6.2B
+400.3% ▲
5Y CAGR: +222.9%
Shareholders Equity
$1.8B
+180.9% ▲
Cash & Investments
$1.6B
+1297.5% ▲
5Y CAGR: +166.9%
Total Debt
$5.1B
+625.6% ▲
5Y CAGR: +373.8%
Net Debt
$3.5B
+495.6% ▲
Assets vs Liabilities & Equity
Year-over-Year Growth
View Full Balance Sheet
| Line Item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| — Assets — | |||||
| Cash | $39M | $44M | $3M | $114M | $1.6B |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash & ST Investments | $39M | $44M | $3M | $114M | $1.6B |
| Net Receivables | $227K | $82K | $4M | $3M | $56M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $3M | $17M | $23M | $314M | $3.0B |
| Total Current Assets | $49M | $46M | $30M | $431M | $4.7B |
| Property, Plant & Equip. | $71M | $211M | $713M | $1.3B | $4.4B |
| Goodwill & Intangibles | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $7M | $0 |
| Other Non-Current Assets | -$5M | $1M | $20M | $138M | $831M |
| Total Non-Current Assets | $71M | $218M | $733M | $1.4B | $5.3B |
| Total Assets | $120M | $264M | $763M | $1.9B | $9.9B |
| — Liabilities — | |||||
| Accounts Payable | $13M | $6M | $105M | $248M | $395M |
| Short-Term Debt | $2M | $14M | $46M | $10M | $16M |
| Deferred Revenue | $13M | $85M | $24M | $16M | $0 |
| Other Current Liabilities | $9M | $30M | $337M | $240M | $444M |
| Total Current Liabilities | $29M | $115M | $554M | $558M | $1.2B |
| Long-Term Debt | $0 | $68M | $79M | $678M | $5.0B |
| Other Non-Current Liab. | $0 | $1M | $0 | $0 | $5M |
| Total Non-Current Liabilities | $12M | $79M | $84M | $678M | $5.0B |
| Total Liabilities | $41M | $194M | $638M | $1.2B | $6.2B |
| — Equity — | |||||
| Common Stock | $98K | $101K | $144K | $230K | $296K |
| Retained Earnings | -$56M | -$101M | -$250M | -$481M | -$662M |
| Accumulated OCI | -$0 | $0 | $0 | $0 | $0 |
| Total Stockholders Equity | $72M | $60M | $125M | $634M | $1.8B |
| Total Liabilities & Equity | $120M | $264M | $763M | $1.9B | $9.9B |
| — Key Metrics — | |||||
| Total Debt | $14M | $92M | $136M | $703M | $5.1B |
| Net Debt | -$25M | $48M | $132M | $589M | $3.5B |
| Total Investments | $0 | $0 | $0 | $7M | $0 |