Applied Digital (APLD) Debt Ratio (2021 - 2026)
Applied Digital's Debt Ratio was 0.54 in fiscal Q1 2027 (quarter ended Aug 31, 2026), up 90.1% from 0.29 a year earlier and up 8.7% from the prior quarter.
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Analysis
Applied Digital (APLD) Debt Ratio (2021 - 2026) Analysis & Trends
For FY2026 (ended May 31, 2026), Debt Ratio at Applied Digital came in at 0.50, up 36.2% from FY2025.
- In earlier fiscal years, Debt Ratio was 0.37 in FY2025 (+213.5%), 0.12 in FY2024 (-59.5%), 0.29 in FY2023 (+380.5%) and 0.06 in FY2022 (-57.5%).
- The fiscal Q1 2027 figure marks the highest quarterly Debt Ratio in data going back to fiscal Q4 2021.
- Compared with a year earlier, Debt Ratio has increased for eight straight quarters, with growth averaging 159.9% over the last eight quarters.
- The best year-over-year quarter for Debt Ratio over five years was fiscal Q3 2025 (growth of 487.7%); the worst was fiscal Q4 2024 (a decline of 59.5%).
- Per Business Quant data, APLD's Debt Ratio in the three fiscal quarters before Q1 2027 was 0.50 (Q4 2026), 0.43 (Q3 2026) and 0.50 (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,964.86 Bn | 3,888.01 Bn | 60.48 Bn | 0.05 |
| 2 | International Business Machines | 222.38 Bn | 173.19 Bn | 9.91 Bn | 0.41 |
| 3 | Cloudflare | 105.62 Bn | 89.15 Bn | 499.52 Mn | 0.20 |
| 4 | Equinix | 96.25 Bn | 84.81 Bn | 1.40 Bn | 0.48 |
| 5 | Nebius | 41.41 Bn | 14.84 Bn | 448.70 Mn | 0.31 |
| 6 | CoreWeave | 33.73 Bn | 20.82 Bn | 1.70 Bn | 0.05 |
| 7 | Verisign | 27.82 Bn | 25.04 Bn | 384.60 Mn | 1.29 |
| 8 | Nutanix | 18.15 Bn | 9.84 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 13.94 Bn | 9.52 Bn | 828.20 Mn | 0.47 |
| 10 | Applied Digital | 5.62 Bn | -2.57 Bn | 96.17 Mn | 0.54 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 0.54 |
| May 31, 2026 | 0.50 |
| Feb 28, 2026 | 0.43 |
| Nov 30, 2025 | 0.50 |
| Aug 31, 2025 | 0.29 |
| May 31, 2025 | 0.37 |
| Feb 28, 2025 | 0.40 |
| Nov 30, 2024 | 0.31 |
| Aug 31, 2024 | 0.12 |
| May 31, 2024 | 0.12 |
| Feb 29, 2024 | 0.07 |
| Nov 30, 2023 | 0.09 |
| Aug 31, 2023 | 0.13 |
| May 31, 2023 | 0.29 |
| Feb 28, 2023 | 0.11 |
| Nov 30, 2022 | 0.12 |
| Aug 31, 2022 | 0.10 |
| May 31, 2022 | 0.06 |
| May 31, 2021 | 0.14 |
API Access
Applied Digital Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=APLD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "APLD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=APLD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();