Applied Digital (APLD) Debt Ratio (2021 - 2026)
Applied Digital's (APLD) quarterly Debt Ratio came in at 0.5 in Q2 2026, up 36.19% on a YoY basis from 0.37 in Q2 2025, and up 16.26% quarter-over-quarter from 0.43 in Q1 2026.
Analysis
Applied Digital (APLD) Debt Ratio (2021 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Debt Ratio for 6 consecutive years, with 0.5 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Debt Ratio rose 36.19% year-over-year to 0.5; the trailing twelve-month figure through May 2026 stood at 0.5 (up 36.19% YoY), and the FY2026 full-year result was 0.5, up 36.19% from the prior year.
- Debt Ratio advanced to 0.5 in Q2 2026 per APLD's latest filing, from 0.43 in the prior quarter.
- Across five years, Debt Ratio topped out at 0.5 in Q2 2026 and bottomed at 0.06 in Q2 2022.
- Historically, Debt Ratio has averaged 0.23 across 5 years, with a median of 0.15 in 2024.
- The sharpest annual moves came in 2022 and 2025: Debt Ratio slumped 57.52% in 2022, then surged 487.67% in 2025.
- Over 5 years, Debt Ratio stood at 0.12 in 2022, then decreased by 27.3% to 0.09 in 2023, then jumped by 245.68% to 0.31 in 2024, then jumped by 62.01% to 0.5 in 2025, then increased by 0.54% to 0.5 in 2026.
- According to Business Quant data, Debt Ratio over the past three periods registered 0.5, 0.43, and 0.5 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 0.48 |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | 0.52 |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | 0.75 |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | 0.50 |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 0.32 |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | 1.16 |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 10.14 |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | - |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | 0.07 |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | 1.89 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 | 0.15 |
| May 31, 2024 | 0.15 |
| Feb 29, 2024 | 0.07 |
| Nov 30, 2023 | 0.09 |
| Aug 31, 2023 | 0.13 |
| May 31, 2023 | 0.16 |
| 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 |