Applied Digital annual free cash flow
2021
2022
2023
2024
2025
2026
Applied Digital Free Cash Flow (FCF) History (APLD)
Applied Digital reported −$2.78B in free cash flow for fiscal 2026, a decrease of $1.98B from the previous fiscal year, with a free cash flow margin of −454.12%.
View full Applied Digital company overviewApplied Digital free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2026 | 2026-05-31 | −$2.78B | −$1.98B | — | −454.12% |
| 2025 | 2025-05-31 | −$797.0M | −$669.0M | — | −552.73% |
| 2024 | 2024-05-31 | −$128.0M | −$55.5M | — | −93.70% |
| 2023 | 2023-05-31 | −$72.5M | −$13.4M | — | −130.96% |
| 2022 | 2022-05-31 | −$59.1M | −$59.0M | — | −691.58% |
| 2021 | 2021-05-31 | −$103,000 | — | — | — |
Applied Digital quarterly free cash flow
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
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 | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q4 2026 | 2026-05-31 | −$1.16B | −$965.1M | — | −393.55% |
| Q3 2026 | 2026-02-28 | −$720.2M | −$468.6M | — | −568.71% |
| Q2 2026 | 2025-11-30 | −$567.9M | −$344.6M | — | −448.63% |
| Q1 2026 | 2025-08-31 | −$331.4M | −$200.8M | — | −516.14% |
| Q4 2025 | 2025-05-31 | −$191.4M | −$145.6M | — | −944.76% |
| Q3 2025 | 2025-02-28 | −$251.6M | −$249.3M | — | −475.42% |
| Q2 2025 | 2024-11-30 | −$223.3M | −$214.6M | — | −617.52% |
| Q1 2025 | 2024-08-31 | −$130.7M | −$59.5M | — | −375.01% |
| Q4 2024 | 2024-05-31 | −$45.8M | −$15.4M | — | −310.96% |
| Q3 2024 | 2024-02-29 | −$2.3M | −$2.6M | — | −5.36% |
| Q2 2024 | 2023-11-30 | −$8.7M | $17.8M | — | −20.61% |
| Q1 2024 | 2023-08-31 | −$71.1M | −$55.3M | — | −195.86% |
| Q4 2023 | 2023-05-31 | −$30.5M | $4.7M | — | −138.27% |
| Q3 2023 | 2023-02-28 | $256,000 | $16.2M | — | +1.82% |
| Q2 2023 | 2022-11-30 | −$26.5M | −$21.0M | — | −214.94% |
| Q1 2023 | 2022-08-31 | −$15.8M | −$13.4M | — | −228.24% |
| Q4 2022 | 2022-05-31 | −$35.2M | — | — | −467.51% |
| Q3 2022 | 2022-02-28 | −$16.0M | — | — | −1556.73% |
| Q2 2022 | 2021-11-30 | −$5.6M | — | — | — |
| Q1 2022 | 2021-08-31 | −$2.4M | — | — | — |
Applied Digital free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from −$103,000 to −$2.78B, a net decrease of $2.78B. Applied Digital's latest reported quarter, Q4 2026, generated −$1.16B in free cash flow, a decrease of $965.1M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Applied Digital filings at SEC.gov ↗