Applied Digital Corporation risk profile
66 Stretched several inputs deteriorating together
Measured 21 October 2026 from APLD's filed statements. Recomputed nightly.
66 (Stretched), driven by Cash conversion at 100, over 6 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 75 | Stretched | Volatile | One-year price volatility — 102.6% |
| Operating pressure | 25 | Normal | Stable | Costs outgrowing revenue — +1.9 percentage points |
| Cash conversion | 100 | Acute | Stable | Capital spending against operating cash — 31.95x |
| Leverage and coverage | 82 | Acute | Easing | Net debt to EBITDA |
| Competitive position | 56 | Elevated | Stable | Operating-margin gap against peers — -37.1 percentage points |
| Concentration | 84 | Acute | Stable | Customer concentration — 4,250 HHI |
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.
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Financials, valuation and price history for Applied Digital Corporation