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SHA
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Other financials

Income statement

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Revenue$258.7M+407%
Gross profit$97.3M-13.3%
Operating income-$124.8M
Net income-$82.4M-56.9%
EPS (diluted)-$0.40-73.9%

Balance sheet

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Cash & equivalents$1.6B+1,191%
Total debt$5.1B+511%
Total equity$1.7B+245%
Total assets$9.9B+431%

Cash flow

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Operating cash flow$132.5M
Free cash flow-$1.2B-504%

Valuation

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Market cap$8.6B+122%
Enterprise value$12.14B+165%
P/S14.9×-2.0×

Profitability

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Gross margin32.2%-23.4pp
Operating margin-45.8%
Net margin-32%-13.0pp
FCF margin-481.8%+297pp

Returns & leverage

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Return on equity-16.6%-7.3pp
Debt / equity+1.3×
Current ratio+3.7×

Where this comes from

Reported directly by Applied Digital in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireProductiveAssets.

The source filing: Applied Digital’s 10-K, filed July 29, 2026.

Filed
Jul 29, 2026, 4:07 PM EDT
Fiscal year
FY2026
Accession
0001144879-26-000048
Line itemFiscal Year Ended / May 31, 2026Fiscal Year Ended / May 31, 2025Fiscal Year Ended / May 31, 2024
Lease assets and liabilities17,513(7,524)(47,479)
CASH FLOW PROVIDED BY (USED IN) OPERATING ACTIVITIES89,685(115,402)13,794
CASH FLOW USED IN INVESTING ACTIVITIES
Purchases of property and equipment and other assets(2,865,765)(681,603)(141,809)
Proceeds from sale of investments5,000
Proceeds from sale of assets25,00019,852
Finance lease prepayments(6,178)(50,089)
Loans to related parties(58,632)

Item 8. Financial Statements and Supplementary Data

FAQ

What is Applied Digital's capex?
Applied Digital (APLD) reported capex of $1.29B in Q1 2026.
How has Applied Digital's capex changed year-over-year?
Applied Digital's capex increased by 550.2% year-over-year, from $198.26M to $1.29B.
What is the long-term trend for Applied Digital's capex?
Over 4 years (2022 to 2026), Applied Digital's capex has grown at a 164.8% compound annual growth rate (CAGR), from $58.25M to $2.87B.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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