Applied Digital annual debt-to-equity ratio
2022
2023
2024
2025
2026
Applied Digital Debt-to-Equity Ratio Growth & History (APLD)
Applied Digital's debt-to-equity ratio was 0.07 for fiscal 2026.
View full Applied Digital company overviewApplied Digital annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2026 | 2026-05-31 | 0.07 | 0.04 | +144.05% |
| 2025 | 2025-05-31 | 0.03 | −2.39 | −98.78% |
| 2024 | 2024-05-31 | 2.42 | 2.16 | +837.44% |
| 2023 | 2023-05-31 | 0.26 | 0.07 | +38.28% |
| 2022 | 2022-05-31 | 0.19 | — | — |
Applied Digital quarterly debt-to-equity ratio
Q4.22
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
Q3.26
Q4.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | 0.07 | 0.04 | +144.05% |
| Q3 2026 | 2026-02-28 | 0.09 | −0.58 | −87.27% |
| Q2 2026 | 2025-11-30 | 0.00 | −0.73 | −99.80% |
| Q1 2026 | 2025-08-31 | 0.01 | −1.15 | −98.94% |
| Q4 2025 | 2025-05-31 | 0.03 | −2.39 | −98.78% |
| Q3 2025 | 2025-02-28 | 0.67 | −1.29 | −65.87% |
| Q2 2025 | 2024-11-30 | 0.74 | −0.17 | −18.62% |
| Q1 2025 | 2024-08-31 | 1.17 | 0.70 | +149.14% |
| Q4 2024 | 2024-05-31 | 2.42 | 2.16 | +837.44% |
| Q3 2024 | 2024-02-29 | 1.96 | — | — |
| Q2 2024 | 2023-11-30 | 0.90 | — | — |
| Q1 2024 | 2023-08-31 | 0.47 | — | — |
| Q4 2023 | 2023-05-31 | 0.26 | 0.07 | +38.28% |
| Q4 2022 | 2022-05-31 | 0.19 | — | — |
Applied Digital debt-to-equity ratio trends
Between the periods ended 2022-05-31 and 2026-05-31, Applied Digital's debt-to-equity ratio decreased from 0.19 to 0.07, a change of −0.11. The latest reported quarter, Q4 2026, shows 0.07.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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