Applied Digital Corporation (APLD) — Working Capital to Net Assets Ratio
Applied Digital Corporation (APLD) has a Working Capital to Net Assets ratio of 54.9% as of February 2026. Working capital of $1.41 Billion (current assets of $2.43 Billion minus current liabilities of $1.02 Billion) is measured against net assets of $2.57 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See financial flexibility index of Applied Digital Corporation to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Applied Digital Corporation Working Capital to Net Assets (2002–2025)
This chart shows how Applied Digital Corporation's Working Capital to Net Assets ratio has evolved across 13 annual periods from 2002 to 2025. As of February 2026, the ratio stands at 54.9%, reflecting working capital of $1.41 Billion against net assets of $2.57 Billion USD. See operational self-sufficiency of Applied Digital Corporation to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Applied Digital Corporation (2002–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Applied Digital Corporation from 2002 to 2025, covering 13 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of Applied Digital Corporation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -20.1% | $-127.55 Million | $633.73 Million | $430.59 Million | $558.14 Million | ▲ +100.0 pp |
| 2024 | -120.1% | $-149.97 Million | $124.83 Million | $404.14 Million | $554.11 Million | ▼ -20.1 pp |
| 2023 | -100.0% | $-69.70 Million | $69.68 Million | $45.76 Million | $115.46 Million | ▼ -114.4 pp |
| 2022 | 14.3% | $11.36 Million | $79.23 Million | $40.36 Million | $29.00 Million | ▲ +372.5 pp |
| 2021 | -358.1% | $9.25 Million | $-2.58 Million | $11.75 Million | $2.50 Million | ▼ -372.3 pp |
| 2020 | 14.2% | $623.57K | $4.39 Million | $2.64 Million | $2.02 Million | ▼ -68.3 pp |
| 2008 | 82.6% | $650.49K | $787.96K | $1.13 Million | $477.31K | ▼ -5.5 pp |
| 2007 | 88.1% | $3.19 Million | $3.63 Million | $3.79 Million | $592.74K | ▼ -3.9 pp |
| 2006 | 92.0% | $5.82 Million | $6.33 Million | $6.65 Million | $831.97K | ▲ +6.4 pp |
| 2005 | 85.5% | $7.19 Million | $8.41 Million | $7.96 Million | $769.65K | ▼ -5.4 pp |
| 2004 | 90.9% | $9.05 Million | $9.96 Million | $9.81 Million | $757.17K | ▲ +12.0 pp |
| 2003 | 78.8% | $904.63K | $1.15 Million | $1.28 Million | $372.49K | ▼ -21.2 pp |
| 2002 | 100.0% | $-2.53K | $-2.53K | $2.47K | $5.00K | — |