Applied Digital Corporation

NasdaqGS:APLD Stock Report

Market Cap: US$9.6b

Applied Digital Valuation

Is APLD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of APLD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate APLD's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate APLD's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for APLD?

Key metric: As APLD barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for APLD. This is calculated by dividing APLD's market cap by their current book value.
What is APLD's PB Ratio?
PB Ratio9.2x
BookUS$1.04b
Market CapUS$9.61b

Price to Book Ratio vs Peers

How does APLD's PB Ratio compare to its peers?

The above table shows the PB ratio for APLD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average2.3x
AKAM Akamai Technologies
2.4x17.90%US$10.8b
OKTA Okta
2.3x23.56%US$15.9b
GDS GDS Holdings
2.1x15.69%US$7.2b
TWLO Twilio
2.2x45.39%US$17.6b
APLD Applied Digital
9.2x105.10%US$9.6b

Price-To-Book vs Peers: APLD is expensive based on its Price-To-Book Ratio (9.2x) compared to the peer average (2.3x).

Price to Book Ratio vs Industry

How does APLD's PB Ratio compare vs other companies in the US IT Industry?

7 CompaniesPrice / BookEstimated GrowthMarket Cap
MLGO MicroAlgo
0.3xn/aUS$105.80m
CLPS CLPS Incorporation
0.5xn/aUS$26.17m
ARBB ARB IOT Group
0.2x60.41%US$9.64m
HMNY Helios and Matheson Analytics
0.006xn/aUS$7.05m
APLD 9.2xIndustry Avg. 3.2xNo. of Companies10PB0246810+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: APLD is expensive based on its Price-To-Book Ratio (9.2x) compared to the US IT industry average (3.2x).

Price to Book Ratio vs Fair Ratio

What is APLD's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

APLD PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio9.2x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate APLD's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst APLD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$34.33
US$43.70
+27.29%
11.12%US$56.00US$39.00n/a10
Oct ’26US$25.00
US$23.22
-7.11%
35.50%US$43.00US$13.00n/a9
Sep ’26US$15.98
US$20.56
+28.63%
23.17%US$30.00US$13.00n/a9
Aug ’26US$12.52
US$17.22
+37.56%
17.04%US$24.00US$13.00n/a9
Jul ’26US$9.76
US$14.61
+49.70%
16.90%US$18.00US$12.00n/a9
Jun ’26US$6.83
US$10.50
+53.73%
28.75%US$18.00US$7.00n/a9
May ’26US$5.21
US$9.94
+90.87%
31.66%US$18.00US$7.00n/a9
Apr ’26US$6.09
US$12.44
+104.34%
24.29%US$20.00US$9.00n/a9
Mar ’26US$8.00
US$12.44
+55.56%
24.29%US$20.00US$9.00n/a9
Feb ’26US$7.12
US$11.56
+62.30%
12.31%US$14.00US$9.00n/a9
Jan ’26US$7.64
US$11.63
+52.16%
14.86%US$15.00US$9.00n/a8
Dec ’25US$10.10
US$11.14
+10.33%
11.18%US$13.00US$9.00n/a7
Nov ’25US$6.46
US$10.71
+65.86%
9.61%US$12.00US$9.00n/a7
Oct ’25US$8.08
US$9.14
+13.15%
24.41%US$12.00US$5.00US$25.007
Sep ’25US$3.65
US$9.00
+146.58%
25.20%US$12.00US$5.00US$15.987
Aug ’25US$4.49
US$8.86
+97.26%
29.21%US$12.00US$5.00US$12.527
Jul ’25US$6.50
US$9.14
+40.66%
25.77%US$12.00US$5.00US$9.767
Jun ’25US$4.23
US$8.43
+99.26%
28.96%US$12.00US$5.00US$6.837
May ’25US$3.00
US$8.71
+190.48%
25.82%US$12.00US$5.00US$5.217
Apr ’25US$4.11
US$13.43
+226.73%
19.85%US$19.00US$10.00US$6.097
Mar ’25US$4.21
US$13.86
+229.15%
20.20%US$19.00US$10.00US$8.007
Feb ’25US$5.01
US$13.86
+176.59%
20.20%US$19.00US$10.00US$7.127
Jan ’25US$6.74
US$15.21
+125.73%
15.10%US$19.00US$12.00US$7.647
Dec ’24US$5.19
US$15.21
+193.15%
15.10%US$19.00US$12.00US$10.107
Nov ’24US$4.93
US$15.21
+208.61%
15.10%US$19.00US$12.00US$6.467
Oct ’24US$6.24
US$15.42
+147.06%
15.71%US$19.00US$12.00US$8.086
US$43.7
Fair Value
21.4% undervalued intrinsic discount
10
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/28 03:58
End of Day Share Price 2025/10/28 00:00
Earnings2025/08/31
Annual Earnings2025/05/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Applied Digital Corporation is covered by 11 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nicholas GilesB. Riley Securities, Inc.
Gregory MillerCitizens JMP Securities, LLC
Joseph FlynnCompass Point Research & Trading, LLC