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Side-by-side financial comparison of Applied Digital Corp. (APLD) and Commercial Vehicle Group, Inc. (CVGI). Click either name above to swap in a different company.
Commercial Vehicle Group, Inc. is the larger business by last-quarter revenue ($154.8M vs $126.6M, roughly 1.2× Applied Digital Corp.). On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs -5.2%). Commercial Vehicle Group, Inc. produced more free cash flow last quarter ($8.7M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs -10.8%).
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.
WABCO Holdings, Inc. was a U.S.-based provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. In 2007, the Vehicle Control Systems was spun off as WABCO Holdings Inc., an American provider of electronic braking, stability, suspension and transmission automation systems for heavy-duty commercial vehicles. Their products are present in many commercial vehicles such as trucks, buses, trailers and off-highway vehicles but they ...
APLD vs CVGI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $154.8M |
| Net Profit | $-14.4M | — |
| Gross Margin | 20.6% | 9.7% |
| Operating Margin | -24.5% | -1.2% |
| Net Margin | -11.4% | — |
| Revenue YoY | 98.2% | -5.2% |
| Net Profit YoY | 89.6% | — |
| EPS (diluted) | $-0.07 | — |
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 | $154.8M | ||
| Q3 25 | $64.2M | $152.5M | ||
| Q2 25 | $-33.3M | $172.0M | ||
| Q1 25 | $52.9M | $169.8M | ||
| Q4 24 | $63.9M | $163.3M | ||
| Q3 24 | $60.7M | $171.8M | ||
| Q2 24 | $43.7M | $193.7M | ||
| Q1 24 | $43.3M | $194.6M |
| Q4 25 | $-14.4M | — | ||
| Q3 25 | $-16.9M | $-7.1M | ||
| Q2 25 | $-52.5M | $-4.8M | ||
| Q1 25 | $-35.6M | $-4.3M | ||
| Q4 24 | $-138.7M | — | ||
| Q3 24 | $-4.2M | $9.5M | ||
| Q2 24 | $-64.5M | $-1.6M | ||
| Q1 24 | $-62.8M | $2.9M |
| Q4 25 | 20.6% | 9.7% | ||
| Q3 25 | 13.4% | 10.5% | ||
| Q2 25 | — | 11.4% | ||
| Q1 25 | 7.1% | 10.5% | ||
| Q4 24 | 18.0% | 8.0% | ||
| Q3 24 | -0.6% | 9.6% | ||
| Q2 24 | -9.1% | 10.6% | ||
| Q1 24 | -8.6% | 11.9% |
| Q4 25 | -24.5% | -1.2% | ||
| Q3 25 | -34.7% | -0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | -35.8% | 0.8% | ||
| Q4 24 | -29.1% | -3.2% | ||
| Q3 24 | 15.6% | -0.6% | ||
| Q2 24 | -68.4% | 0.5% | ||
| Q1 24 | -128.8% | 2.3% |
| Q4 25 | -11.4% | — | ||
| Q3 25 | -26.4% | -4.6% | ||
| Q2 25 | 157.8% | -2.8% | ||
| Q1 25 | -67.2% | -2.5% | ||
| Q4 24 | -217.2% | — | ||
| Q3 24 | -7.0% | 5.5% | ||
| Q2 24 | -147.5% | -0.8% | ||
| Q1 24 | -145.0% | 1.5% |
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $-0.31 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.03 | — | ||
| Q2 24 | $-0.57 | $-0.05 | ||
| Q1 24 | $-0.52 | $0.09 |
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 | — |
| Total DebtLower is stronger | — | $104.9M |
| Stockholders' EquityBook value | $1.4B | $133.4M |
| Total Assets | $5.2B | $391.7M |
| Debt / EquityLower = less leverage | — | 0.79× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | — | ||
| Q3 25 | $73.9M | — | ||
| Q2 25 | $41.6M | — | ||
| Q1 25 | $68.7M | — | ||
| Q4 24 | $286.2M | — | ||
| Q3 24 | $58.2M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $4.4M | — |
| Q4 25 | — | $104.9M | ||
| Q3 25 | — | $108.2M | ||
| Q2 25 | — | $118.2M | ||
| Q1 25 | — | $117.4M | ||
| Q4 24 | — | $135.5M | ||
| Q3 24 | — | $128.8M | ||
| Q2 24 | — | $142.0M | ||
| Q1 24 | — | $155.7M |
| Q4 25 | $1.4B | $133.4M | ||
| Q3 25 | $1.0B | $136.5M | ||
| Q2 25 | $497.7M | $142.6M | ||
| Q1 25 | $454.6M | $136.7M | ||
| Q4 24 | $434.6M | $135.6M | ||
| Q3 24 | $241.8M | $179.3M | ||
| Q2 24 | $124.8M | $169.6M | ||
| Q1 24 | $118.5M | $175.5M |
| Q4 25 | $5.2B | $391.7M | ||
| Q3 25 | $2.4B | $400.3M | ||
| Q2 25 | $1.9B | $429.8M | ||
| Q1 25 | $1.7B | $419.8M | ||
| Q4 24 | $1.5B | $424.6M | ||
| Q3 24 | $937.7M | $495.3M | ||
| Q2 24 | $762.9M | $503.2M | ||
| Q1 24 | $643.2M | $509.2M |
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 0.79× | ||
| Q2 25 | — | 0.83× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 1.00× | ||
| Q3 24 | — | 0.72× | ||
| Q2 24 | — | 0.84× | ||
| Q1 24 | — | 0.89× |
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 | $12.3M |
| Free Cash FlowOCF − Capex | $-567.9M | $8.7M |
| FCF MarginFCF / Revenue | -448.6% | 5.6% |
| Capex IntensityCapex / Revenue | 436.1% | 2.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $34.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $12.3M | ||
| Q3 25 | $-82.0M | $-1.7M | ||
| Q2 25 | $6.9M | $18.9M | ||
| Q1 25 | $5.9M | $15.2M | ||
| Q4 24 | $-52.3M | $-26.6M | ||
| Q3 24 | $-75.9M | $-17.1M | ||
| Q2 24 | $-34.1M | $12.6M | ||
| Q1 24 | $38.8M | $-2.4M |
| Q4 25 | $-567.9M | $8.7M | ||
| Q3 25 | $-331.4M | $-3.5M | ||
| Q2 25 | $-191.4M | $17.4M | ||
| Q1 25 | $-251.6M | $11.4M | ||
| Q4 24 | $-223.3M | $-30.6M | ||
| Q3 24 | $-130.7M | $-20.3M | ||
| Q2 24 | $-88.9M | $6.4M | ||
| Q1 24 | $-2.3M | $-7.4M |
| Q4 25 | -448.6% | 5.6% | ||
| Q3 25 | -516.1% | -2.3% | ||
| Q2 25 | 574.8% | 10.1% | ||
| Q1 25 | -475.4% | 6.7% | ||
| Q4 24 | -349.6% | -18.7% | ||
| Q3 24 | -215.3% | -11.8% | ||
| Q2 24 | -203.5% | 3.3% | ||
| Q1 24 | -5.4% | -3.8% |
| Q4 25 | 436.1% | 2.3% | ||
| Q3 25 | 388.4% | 1.2% | ||
| Q2 25 | -595.4% | 0.9% | ||
| Q1 25 | 486.6% | 2.2% | ||
| Q4 24 | 267.8% | 2.4% | ||
| Q3 24 | 90.3% | 1.9% | ||
| Q2 24 | 125.4% | 3.2% | ||
| Q1 24 | 95.0% | 2.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -1.79× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.80× |
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% |
CVGI
| Global Seating | $70.7M | 46% |
| Global Electrical Systems | $49.7M | 32% |
| Trim Systems And Components | $34.4M | 22% |
