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Side-by-side financial comparison of Applied Digital Corp. (APLD) and CareTrust REIT, Inc. (CTRE). Click either name above to swap in a different company.
CareTrust REIT, Inc. is the larger business by last-quarter revenue ($134.9M vs $126.6M, roughly 1.1× Applied Digital Corp.). CareTrust REIT, Inc. runs the higher net margin — 82.5% vs -11.4%, a 93.9% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 55.1%). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 46.2%).
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.
CareTrust REIT, Inc.CTREEarnings & Financial Report
Target Healthcare REIT is a British property investment company which invests in healthcare properties and holds a large portfolio of care homes. It is structured as a real estate investment trust (REIT) and is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
APLD vs CTRE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $134.9M |
| Net Profit | $-14.4M | $111.3M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | — |
| Net Margin | -11.4% | 82.5% |
| Revenue YoY | 98.2% | 55.1% |
| Net Profit YoY | 89.6% | 113.5% |
| EPS (diluted) | $-0.07 | $0.52 |
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 | $134.9M | ||
| Q3 25 | $64.2M | $132.4M | ||
| Q2 25 | $-33.3M | $112.5M | ||
| Q1 25 | $52.9M | $96.6M | ||
| Q4 24 | $63.9M | $86.9M | ||
| Q3 24 | $60.7M | $77.4M | ||
| Q2 24 | $43.7M | $68.9M | ||
| Q1 24 | $43.3M | $63.1M |
| Q4 25 | $-14.4M | $111.3M | ||
| Q3 25 | $-16.9M | $74.9M | ||
| Q2 25 | $-52.5M | $68.5M | ||
| Q1 25 | $-35.6M | $65.8M | ||
| Q4 24 | $-138.7M | $52.1M | ||
| Q3 24 | $-4.2M | $33.4M | ||
| Q2 24 | $-64.5M | $10.8M | ||
| Q1 24 | $-62.8M | $28.7M |
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | -9.1% | — | ||
| Q1 24 | -8.6% | — |
| Q4 25 | -24.5% | — | ||
| Q3 25 | -34.7% | 58.1% | ||
| Q2 25 | — | 61.3% | ||
| Q1 25 | -35.8% | — | ||
| Q4 24 | -29.1% | — | ||
| Q3 24 | 15.6% | 43.0% | ||
| Q2 24 | -68.4% | 15.1% | ||
| Q1 24 | -128.8% | — |
| Q4 25 | -11.4% | 82.5% | ||
| Q3 25 | -26.4% | 56.6% | ||
| Q2 25 | 157.8% | 60.9% | ||
| Q1 25 | -67.2% | 68.1% | ||
| Q4 24 | -217.2% | 60.0% | ||
| Q3 24 | -7.0% | 43.2% | ||
| Q2 24 | -147.5% | 15.6% | ||
| Q1 24 | -145.0% | 45.6% |
| Q4 25 | $-0.07 | $0.52 | ||
| Q3 25 | $-0.07 | $0.35 | ||
| Q2 25 | $-0.31 | $0.35 | ||
| Q1 25 | $-0.16 | $0.35 | ||
| Q4 24 | $-0.66 | $0.30 | ||
| Q3 24 | $-0.03 | $0.21 | ||
| Q2 24 | $-0.57 | $0.07 | ||
| Q1 24 | $-0.52 | $0.22 |
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 | $198.0M |
| Total DebtLower is stronger | — | $894.2M |
| Stockholders' EquityBook value | $1.4B | $4.0B |
| Total Assets | $5.2B | $5.1B |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $198.0M | ||
| Q3 25 | $73.9M | $712.5M | ||
| Q2 25 | $41.6M | $306.1M | ||
| Q1 25 | $68.7M | $26.5M | ||
| Q4 24 | $286.2M | $213.8M | ||
| Q3 24 | $58.2M | $377.1M | ||
| Q2 24 | $3.3M | $495.1M | ||
| Q1 24 | $4.4M | $451.2M |
| Q4 25 | — | $894.2M | ||
| Q3 25 | — | $893.8M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $822.1M | ||
| Q4 24 | — | $396.9M | ||
| Q3 24 | — | $396.7M | ||
| Q2 24 | — | $671.1M | ||
| Q1 24 | — | $595.9M |
| Q4 25 | $1.4B | $4.0B | ||
| Q3 25 | $1.0B | $4.0B | ||
| Q2 25 | $497.7M | $3.3B | ||
| Q1 25 | $454.6M | $2.9B | ||
| Q4 24 | $434.6M | $2.9B | ||
| Q3 24 | $241.8M | $2.4B | ||
| Q2 24 | $124.8M | $1.9B | ||
| Q1 24 | $118.5M | $1.7B |
| Q4 25 | $5.2B | $5.1B | ||
| Q3 25 | $2.4B | $5.1B | ||
| Q2 25 | $1.9B | $4.7B | ||
| Q1 25 | $1.7B | $3.9B | ||
| Q4 24 | $1.5B | $3.4B | ||
| Q3 24 | $937.7M | $2.9B | ||
| Q2 24 | $762.9M | $2.7B | ||
| Q1 24 | $643.2M | $2.3B |
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.28× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | — | 0.36× |
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 | $394.0M |
| Free Cash FlowOCF − Capex | $-567.9M | — |
| FCF MarginFCF / Revenue | -448.6% | — |
| Capex IntensityCapex / Revenue | 436.1% | — |
| Cash ConversionOCF / Net Profit | — | 3.54× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $394.0M | ||
| Q3 25 | $-82.0M | $100.9M | ||
| Q2 25 | $6.9M | $100.8M | ||
| Q1 25 | $5.9M | $71.4M | ||
| Q4 24 | $-52.3M | $244.3M | ||
| Q3 24 | $-75.9M | $67.2M | ||
| Q2 24 | $-34.1M | $53.0M | ||
| Q1 24 | $38.8M | $48.8M |
| Q4 25 | $-567.9M | — | ||
| Q3 25 | $-331.4M | — | ||
| Q2 25 | $-191.4M | — | ||
| Q1 25 | $-251.6M | — | ||
| Q4 24 | $-223.3M | — | ||
| Q3 24 | $-130.7M | — | ||
| Q2 24 | $-88.9M | — | ||
| Q1 24 | $-2.3M | — |
| Q4 25 | -448.6% | — | ||
| Q3 25 | -516.1% | — | ||
| Q2 25 | 574.8% | — | ||
| Q1 25 | -475.4% | — | ||
| Q4 24 | -349.6% | — | ||
| Q3 24 | -215.3% | — | ||
| Q2 24 | -203.5% | — | ||
| Q1 24 | -5.4% | — |
| Q4 25 | 436.1% | — | ||
| Q3 25 | 388.4% | — | ||
| Q2 25 | -595.4% | — | ||
| Q1 25 | 486.6% | — | ||
| Q4 24 | 267.8% | — | ||
| Q3 24 | 90.3% | — | ||
| Q2 24 | 125.4% | — | ||
| Q1 24 | 95.0% | — |
| Q4 25 | — | 3.54× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.47× | ||
| Q1 25 | — | 1.08× | ||
| Q4 24 | — | 4.68× | ||
| Q3 24 | — | 2.01× | ||
| Q2 24 | — | 4.92× | ||
| Q1 24 | — | 1.70× |
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% |
CTRE
Segment breakdown not available.
