Applied Digital (APLD) Free Cash Flow (2021 - 2026)
Applied Digital's (APLD) quarterly Free Cash Flow came in at -$1.2 billion in Q2 2026, down 504.22% on a YoY basis from $286.1 million in Q2 2025, and down 60.58% quarter-over-quarter from -$720.2 million in Q1 2026.
Analysis
Applied Digital (APLD) Free Cash Flow (2021 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Free Cash Flow for 6 consecutive years, with -$1.2 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Free Cash Flow fell 504.22% year-over-year to -$1.2 billion; the trailing twelve-month figure through May 2026 stood at -$2.8 billion (down 248.31% YoY), and the FY2026 full-year result was -$2.8 billion, down 248.31% from the prior year.
- Free Cash Flow eased to -$1.2 billion in Q2 2026 per APLD's latest filing, from -$720.2 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $256000.0 in Q1 2023 and bottomed at -$1.2 billion in Q2 2026.
- Historically, Free Cash Flow has averaged -$211.7 million across 5 years, with a median of -$59.7 million in 2023.
- The sharpest annual moves came in 2022 and 2023: Free Cash Flow plunged 21013.59% in 2022, then soared 101.6% in 2023.
- Over 5 years, Free Cash Flow stood at -$27.9 million in 2022, then surged by 68.87% to -$8.7 million in 2023, then sank by 1758.29% to -$161.7 million in 2024, then slumped by 251.28% to -$567.9 million in 2025, then tumbled by 103.64% to -$1.2 billion in 2026.
- According to Business Quant data, Free Cash Flow over the past three periods registered -$1.2 billion, -$720.2 million, and -$567.9 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | -511.00 Mn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | -992.27 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | -653.84 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | -1.16 Bn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 207.99 Mn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | -583.95 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 254.27 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | - |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | - |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | -4.34 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | -1.16 Bn |
| Feb 28, 2026 | -720.20 Mn |
| Nov 30, 2025 | -567.92 Mn |
| Aug 31, 2025 | -331.44 Mn |
| May 31, 2025 | -191.41 Mn |
| Feb 28, 2025 | -251.60 Mn |
| Nov 30, 2024 | -161.67 Mn |
| Aug 31, 2024 | -192.33 Mn |
| May 31, 2024 | -88.92 Mn |
| Feb 29, 2024 | -2.33 Mn |
| Nov 30, 2023 | -8.70 Mn |
| Aug 31, 2023 | -28.07 Mn |
| May 31, 2023 | -30.47 Mn |
| Feb 28, 2023 | 256,000.00 |
| Nov 30, 2022 | -27.95 Mn |
| Aug 31, 2022 | -14.38 Mn |
| May 31, 2022 | -21.75 Mn |
| Feb 28, 2022 | -15.97 Mn |
| Nov 30, 2021 | -1.72 Mn |
| Aug 31, 2021 | -6.26 Mn |