Applied Digital (APLD) Invested Capital (2021 - 2026)
Applied Digital (APLD) reported Invested Capital of $7.98 billion for fiscal Q1 2027 (quarter ended Aug 31, 2026), up 361.1% from $1.73 billion a year earlier and up 19.2% from the prior quarter.
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Analysis
Applied Digital (APLD) Invested Capital (2021 - 2026) Analysis & Trends
For FY2026 (ended May 31, 2026), Applied Digital posted Invested Capital of $6.7 billion, up 465.0% from FY2025.
- Invested Capital has increased for four consecutive fiscal years.
- By fiscal year, Invested Capital came in at $1.19 billion in FY2025 (+453.1%), $214.38 million in FY2024 (+46.7%), $146.11 million in FY2023 (+69.0%) and $86.47 million in FY2022.
- The fiscal Q1 2027 figure ranks as the highest quarterly Invested Capital in data going back to fiscal Q4 2021.
- Year over year, Invested Capital has now increased in each of the last 14 quarters, with growth averaging 406.0% over the last eight quarters.
- Across the past five years, year-over-year growth in Invested Capital ran from 46.7% in fiscal Q4 2024 to 603.2% in fiscal Q3 2025.
- Per Business Quant data, the three fiscal quarters before Q1 2027 came in at $6.7 billion (Q4 2026), $4.27 billion (Q3 2026) and $4.06 billion (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,964.86 Bn | 3,888.01 Bn | 60.48 Bn | 482.68 Bn |
| 2 | International Business Machines | 222.38 Bn | 173.19 Bn | 9.91 Bn | 96.53 Bn |
| 3 | Cloudflare | 105.62 Bn | 89.15 Bn | 499.52 Mn | 2.91 Bn |
| 4 | Equinix | 96.25 Bn | 84.81 Bn | 1.40 Bn | 34.08 Bn |
| 5 | Nebius | 41.41 Bn | 14.84 Bn | 448.70 Mn | 18.89 Bn |
| 6 | CoreWeave | 33.73 Bn | 20.82 Bn | 1.70 Bn | 8.69 Bn |
| 7 | Verisign | 27.82 Bn | 25.04 Bn | 384.60 Mn | 80.30 Mn |
| 8 | Nutanix | 18.15 Bn | 9.84 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 13.94 Bn | 9.52 Bn | 828.20 Mn | 3.78 Bn |
| 10 | Applied Digital | 5.62 Bn | -2.57 Bn | 96.17 Mn | 7.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Aug 31, 2026 | 7.98 Bn |
| 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 | 354.97 Mn |
| May 31, 2024 | 214.38 Mn |
| Feb 29, 2024 | 162.66 Mn |
| Nov 30, 2023 | 198.44 Mn |
| Aug 31, 2023 | 171.99 Mn |
| May 31, 2023 | 146.11 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 |
API Access
Applied Digital Invested Capital 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=invested-capital&ticker=APLD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=APLD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();