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Side-by-side financial comparison of Applied Digital Corp. (APLD) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $105.5M, roughly 1.2× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -11.4%, a 23.0% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 1.0%).
BAE Systems Digital Intelligence is an international defence and security technology firm owned by BAE Systems. They specialize in delivering digital solutions that enable rapid, data-driven decision-making. Their services, solutions and products span customers in Law Enforcement, National Security, Government Departments and Government Enterprises, Critical National Infrastructure, Telecommunications, the Military, and Space.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
APLD vs CSV — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $105.5M |
| Net Profit | $-14.4M | $12.3M |
| Gross Margin | 20.6% | 34.8% |
| Operating Margin | -24.5% | 23.3% |
| Net Margin | -11.4% | 11.6% |
| Revenue YoY | 98.2% | 8.0% |
| Net Profit YoY | 89.6% | 24.5% |
| EPS (diluted) | $-0.07 | $0.76 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $126.6M | $105.5M | ||
| Q3 25 | $64.2M | $102.7M | ||
| Q2 25 | $-33.3M | $102.1M | ||
| Q1 25 | $52.9M | $107.1M | ||
| Q4 24 | $63.9M | $97.7M | ||
| Q3 24 | $60.7M | $100.7M | ||
| Q2 24 | $43.7M | $102.3M | ||
| Q1 24 | $43.3M | $103.5M |
| Q4 25 | $-14.4M | $12.3M | ||
| Q3 25 | $-16.9M | $6.6M | ||
| Q2 25 | $-52.5M | $11.7M | ||
| Q1 25 | $-35.6M | $20.9M | ||
| Q4 24 | $-138.7M | $9.9M | ||
| Q3 24 | $-4.2M | $9.9M | ||
| Q2 24 | $-64.5M | $6.3M | ||
| Q1 24 | $-62.8M | $7.0M |
| Q4 25 | 20.6% | 34.8% | ||
| Q3 25 | 13.4% | 35.3% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | 7.1% | 35.3% | ||
| Q4 24 | 18.0% | 34.4% | ||
| Q3 24 | -0.6% | 35.2% | ||
| Q2 24 | -9.1% | 36.2% | ||
| Q1 24 | -8.6% | 36.0% |
| Q4 25 | -24.5% | 23.3% | ||
| Q3 25 | -34.7% | 17.0% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | -35.8% | 29.5% | ||
| Q4 24 | -29.1% | 21.6% | ||
| Q3 24 | 15.6% | 22.7% | ||
| Q2 24 | -68.4% | 18.0% | ||
| Q1 24 | -128.8% | 18.8% |
| Q4 25 | -11.4% | 11.6% | ||
| Q3 25 | -26.4% | 6.4% | ||
| Q2 25 | 157.8% | 11.5% | ||
| Q1 25 | -67.2% | 19.5% | ||
| Q4 24 | -217.2% | 10.1% | ||
| Q3 24 | -7.0% | 9.8% | ||
| Q2 24 | -147.5% | 6.1% | ||
| Q1 24 | -145.0% | 6.7% |
| Q4 25 | $-0.07 | $0.76 | ||
| Q3 25 | $-0.07 | $0.41 | ||
| Q2 25 | $-0.31 | $0.74 | ||
| Q1 25 | $-0.16 | $1.34 | ||
| Q4 24 | $-0.66 | $0.62 | ||
| Q3 24 | $-0.03 | $0.63 | ||
| Q2 24 | $-0.57 | $0.40 | ||
| Q1 24 | $-0.52 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $1.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $254.8M |
| Total Assets | $5.2B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $1.7M | ||
| Q3 25 | $73.9M | $1.2M | ||
| Q2 25 | $41.6M | $1.4M | ||
| Q1 25 | $68.7M | $4.6M | ||
| Q4 24 | $286.2M | $1.2M | ||
| Q3 24 | $58.2M | $1.3M | ||
| Q2 24 | $3.3M | $1.5M | ||
| Q1 24 | $4.4M | $1.7M |
| Q4 25 | $1.4B | $254.8M | ||
| Q3 25 | $1.0B | $242.1M | ||
| Q2 25 | $497.7M | $235.4M | ||
| Q1 25 | $454.6M | $223.1M | ||
| Q4 24 | $434.6M | $208.6M | ||
| Q3 24 | $241.8M | $198.1M | ||
| Q2 24 | $124.8M | $187.9M | ||
| Q1 24 | $118.5M | $179.6M |
| Q4 25 | $5.2B | $1.3B | ||
| Q3 25 | $2.4B | $1.3B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $1.7B | $1.3B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $937.7M | $1.3B | ||
| Q2 24 | $762.9M | $1.3B | ||
| Q1 24 | $643.2M | $1.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.8M | $14.1M |
| Free Cash FlowOCF − Capex | $-567.9M | $6.2M |
| FCF MarginFCF / Revenue | -448.6% | 5.9% |
| Capex IntensityCapex / Revenue | 436.1% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $14.1M | ||
| Q3 25 | $-82.0M | $24.7M | ||
| Q2 25 | $6.9M | $8.1M | ||
| Q1 25 | $5.9M | $13.8M | ||
| Q4 24 | $-52.3M | $9.3M | ||
| Q3 24 | $-75.9M | $20.9M | ||
| Q2 24 | $-34.1M | $2.2M | ||
| Q1 24 | $38.8M | $19.7M |
| Q4 25 | $-567.9M | $6.2M | ||
| Q3 25 | $-331.4M | $18.0M | ||
| Q2 25 | $-191.4M | $5.2M | ||
| Q1 25 | $-251.6M | $10.6M | ||
| Q4 24 | $-223.3M | $4.9M | ||
| Q3 24 | $-130.7M | $16.2M | ||
| Q2 24 | $-88.9M | $-1.4M | ||
| Q1 24 | $-2.3M | $16.2M |
| Q4 25 | -448.6% | 5.9% | ||
| Q3 25 | -516.1% | 17.5% | ||
| Q2 25 | 574.8% | 5.1% | ||
| Q1 25 | -475.4% | 9.9% | ||
| Q4 24 | -349.6% | 5.0% | ||
| Q3 24 | -215.3% | 16.1% | ||
| Q2 24 | -203.5% | -1.4% | ||
| Q1 24 | -5.4% | 15.6% |
| Q4 25 | 436.1% | 7.5% | ||
| Q3 25 | 388.4% | 6.5% | ||
| Q2 25 | -595.4% | 2.8% | ||
| Q1 25 | 486.6% | 3.0% | ||
| Q4 24 | 267.8% | 4.5% | ||
| Q3 24 | 90.3% | 4.6% | ||
| Q2 24 | 125.4% | 3.5% | ||
| Q1 24 | 95.0% | 3.4% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | — | 3.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
