Applied Digital (APLD) Invested Capital (2021 - 2026)
Applied Digital's (APLD) quarterly Invested Capital came in at $6.7 billion in Q2 2026, up 465.04% on a YoY basis from $1.2 billion in Q2 2025, and up 56.78% quarter-over-quarter from $4.3 billion in Q1 2026.
Analysis
Applied Digital (APLD) Invested Capital (2021 - 2026) Analysis & Trends
Applied Digital (APLD) has reported Invested Capital for 6 consecutive years, with $6.7 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Invested Capital rose 465.04% year-over-year to $6.7 billion; the trailing twelve-month figure through May 2026 stood at $6.7 billion (up 465.04% YoY), and the FY2026 full-year result was $6.7 billion, up 465.04% from the prior year.
- Invested Capital climbed to $6.7 billion in Q2 2026 per APLD's latest filing, from $4.3 billion in the prior quarter.
- Across five years, Invested Capital topped out at $6.7 billion in Q2 2026 and bottomed at -$8.6 million in Q1 2022.
- Historically, Invested Capital has averaged $1.2 billion across 5 years, with a median of $219.3 million in 2023.
- The sharpest annual moves came in 2022 and 2023: Invested Capital jumped 19400.22% in 2022, then jumped 30.56% in 2023.
- Over 5 years, Invested Capital stood at $92.5 million in 2022, then soared by 114.6% to $198.4 million in 2023, then jumped by 358.26% to $909.4 million in 2024, then soared by 346.05% to $4.1 billion in 2025, then soared by 65.19% to $6.7 billion in 2026.
- According to Business Quant data, Invested Capital over the past three periods registered $6.7 billion, $4.3 billion, and $4.1 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 34.07 Bn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | 4.36 Bn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | 6.20 Bn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | 6.70 Bn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 8.45 Bn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | 3.69 Bn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 3.23 Bn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | 801.51 Mn |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | 402.28 Mn |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | 16.74 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 6.70 Bn |
| Feb 28, 2026 | 4.27 Bn |
| Nov 30, 2025 | 4.06 Bn |
| Aug 31, 2025 | 1.73 Bn |
| May 31, 2025 | 1.19 Bn |
| Feb 28, 2025 | 1.14 Bn |
| Nov 30, 2024 | 909.36 Mn |
| Aug 31, 2024 | 378.54 Mn |
| May 31, 2024 | 240.14 Mn |
| Feb 29, 2024 | 162.66 Mn |
| Nov 30, 2023 | 198.44 Mn |
| Aug 31, 2023 | 171.99 Mn |
| May 31, 2023 | 112.89 Mn |
| Feb 28, 2023 | 95.11 Mn |
| Nov 30, 2022 | 92.47 Mn |
| Aug 31, 2022 | 91.60 Mn |
| May 31, 2022 | 86.47 Mn |
| Feb 28, 2022 | -8.61 Mn |
| May 31, 2021 | -448,000.00 |