Applied Digital (APLD) EV to FCF (2021 - 2026)
Applied Digital's (APLD) quarterly EV to FCF came in at 10.03 in Q2 2026, down 35.15% on a YoY basis from 15.46 in Q2 2025, and down 6.55% quarter-over-quarter from 9.41 in Q1 2026.
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Applied Digital (APLD) EV to FCF (2021 - 2026) Analysis & Trends
Applied Digital (APLD) has reported EV to FCF for 6 consecutive years, with 10.03 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, EV to FCF fell 35.15% year-over-year to 10.03; the trailing twelve-month figure through May 2026 stood at 4.18 (down 134.45% YoY), and the FY2026 full-year result was 4.18, down 134.45% from the prior year.
- EV to FCF declined to 10.03 in Q2 2026 per APLD's latest filing, from 9.41 in the prior quarter.
- Across five years, EV to FCF topped out at 929.56 in Q1 2023 and bottomed at 203.89 in Q1 2024.
- Historically, EV to FCF has averaged 26.42 across 5 years, with a median of 10.83 in 2025.
- The widest YoY moves for EV to FCF: up 2614.92% in 2023, down 853.52% in 2023.
- Over 5 years, EV to FCF stood at 6.21 in 2022, then slumped by 853.52% to 59.22 in 2023, then soared by 80.37% to 11.63 in 2024, then gained by 9.71% to 10.5 in 2025, then climbed by 4.5% to 10.03 in 2026.
- According to Business Quant data, EV to FCF over the past three periods registered 10.03, 9.41, and 10.5 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | -10.03 |
| Feb 28, 2026 | -9.41 |
| Nov 30, 2025 | -10.50 |
| Aug 31, 2025 | -12.76 |
| May 31, 2025 | -7.42 |
| Feb 28, 2025 | -6.85 |
| Nov 30, 2024 | -11.63 |
| Aug 31, 2024 | -2.57 |
| May 31, 2024 | -5.38 |
| Feb 29, 2024 | -203.89 |
| Nov 30, 2023 | -59.22 |
| Aug 31, 2023 | -21.66 |
| May 31, 2023 | -25.25 |
| Feb 28, 2023 | 929.56 |
| Nov 30, 2022 | -6.21 |
| Aug 31, 2022 | -13.06 |
| May 31, 2022 | -11.16 |
| Feb 28, 2022 | -36.96 |
| Nov 30, 2021 | -569.60 |
| Aug 31, 2021 | -72.65 |