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Side-by-side financial comparison of Applied Digital Corp. (APLD) and ENNIS, INC. (EBF). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $100.2M, roughly 1.3× ENNIS, INC.). ENNIS, INC. runs the higher net margin — 10.8% vs -11.4%, a 22.2% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 0.4%). ENNIS, INC. produced more free cash flow last quarter ($15.7M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 1.4%).
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.
ENNIS, INC. (ticker EBF) is a leading North American provider of printed business products and related services. Its offerings include custom business forms, pressure-sensitive labels, marketing collateral, promotional items, and branded packaging, serving clients across retail, healthcare, financial services, and small business segments.
APLD vs EBF — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $100.2M |
| Net Profit | $-14.4M | $10.8M |
| Gross Margin | 20.6% | 31.9% |
| Operating Margin | -24.5% | 15.0% |
| Net Margin | -11.4% | 10.8% |
| Revenue YoY | 98.2% | 0.4% |
| Net Profit YoY | 89.6% | 6.1% |
| EPS (diluted) | $-0.07 | $0.42 |
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 | $100.2M | ||
| Q3 25 | $64.2M | $98.7M | ||
| Q2 25 | $-33.3M | $97.2M | ||
| Q1 25 | $52.9M | $92.7M | ||
| Q4 24 | $63.9M | $99.8M | ||
| Q3 24 | $60.7M | $99.0M | ||
| Q2 24 | $43.7M | $103.1M | ||
| Q1 24 | $43.3M | $97.4M |
| Q4 25 | $-14.4M | $10.8M | ||
| Q3 25 | $-16.9M | $13.2M | ||
| Q2 25 | $-52.5M | $9.8M | ||
| Q1 25 | $-35.6M | $9.0M | ||
| Q4 24 | $-138.7M | $10.2M | ||
| Q3 24 | $-4.2M | $10.3M | ||
| Q2 24 | $-64.5M | $10.7M | ||
| Q1 24 | $-62.8M | $10.1M |
| Q4 25 | 20.6% | 31.9% | ||
| Q3 25 | 13.4% | 30.5% | ||
| Q2 25 | — | 31.1% | ||
| Q1 25 | 7.1% | 29.5% | ||
| Q4 24 | 18.0% | 29.3% | ||
| Q3 24 | -0.6% | 30.1% | ||
| Q2 24 | -9.1% | 30.0% | ||
| Q1 24 | -8.6% | 28.4% |
| Q4 25 | -24.5% | 15.0% | ||
| Q3 25 | -34.7% | 12.5% | ||
| Q2 25 | — | 13.7% | ||
| Q1 25 | -35.8% | 13.0% | ||
| Q4 24 | -29.1% | 13.1% | ||
| Q3 24 | 15.6% | 13.3% | ||
| Q2 24 | -68.4% | 13.3% | ||
| Q1 24 | -128.8% | 13.3% |
| Q4 25 | -11.4% | 10.8% | ||
| Q3 25 | -26.4% | 13.3% | ||
| Q2 25 | 157.8% | 10.1% | ||
| Q1 25 | -67.2% | 9.7% | ||
| Q4 24 | -217.2% | 10.2% | ||
| Q3 24 | -7.0% | 10.4% | ||
| Q2 24 | -147.5% | 10.4% | ||
| Q1 24 | -145.0% | 10.4% |
| Q4 25 | $-0.07 | $0.42 | ||
| Q3 25 | $-0.07 | $0.51 | ||
| Q2 25 | $-0.31 | $0.38 | ||
| Q1 25 | $-0.16 | $0.34 | ||
| Q4 24 | $-0.66 | $0.39 | ||
| Q3 24 | $-0.03 | $0.40 | ||
| Q2 24 | $-0.57 | $0.41 | ||
| Q1 24 | $-0.52 | $0.39 |
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 | $31.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $304.8M |
| Total Assets | $5.2B | $354.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $31.3M | ||
| Q3 25 | $73.9M | $31.9M | ||
| Q2 25 | $41.6M | $32.6M | ||
| Q1 25 | $68.7M | $72.5M | ||
| Q4 24 | $286.2M | $68.6M | ||
| Q3 24 | $58.2M | $122.6M | ||
| Q2 24 | $3.3M | $123.7M | ||
| Q1 24 | $4.4M | $110.9M |
| Q4 25 | $1.4B | $304.8M | ||
| Q3 25 | $1.0B | $305.4M | ||
| Q2 25 | $497.7M | $301.2M | ||
| Q1 25 | $454.6M | $302.0M | ||
| Q4 24 | $434.6M | $297.7M | ||
| Q3 24 | $241.8M | $358.4M | ||
| Q2 24 | $124.8M | $354.4M | ||
| Q1 24 | $118.5M | $349.8M |
| Q4 25 | $5.2B | $354.3M | ||
| Q3 25 | $2.4B | $361.8M | ||
| Q2 25 | $1.9B | $361.7M | ||
| Q1 25 | $1.7B | $348.9M | ||
| Q4 24 | $1.5B | $346.1M | ||
| Q3 24 | $937.7M | $406.8M | ||
| Q2 24 | $762.9M | $406.2M | ||
| Q1 24 | $643.2M | $399.2M |
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 | $16.4M |
| Free Cash FlowOCF − Capex | $-567.9M | $15.7M |
| FCF MarginFCF / Revenue | -448.6% | 15.7% |
| Capex IntensityCapex / Revenue | 436.1% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $42.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $16.4M | ||
| Q3 25 | $-82.0M | $10.5M | ||
| Q2 25 | $6.9M | $8.0M | ||
| Q1 25 | $5.9M | $12.8M | ||
| Q4 24 | $-52.3M | $18.2M | ||
| Q3 24 | $-75.9M | $11.8M | ||
| Q2 24 | $-34.1M | $23.1M | ||
| Q1 24 | $38.8M | $16.6M |
| Q4 25 | $-567.9M | $15.7M | ||
| Q3 25 | $-331.4M | $9.0M | ||
| Q2 25 | $-191.4M | $6.6M | ||
| Q1 25 | $-251.6M | $11.1M | ||
| Q4 24 | $-223.3M | $17.5M | ||
| Q3 24 | $-130.7M | $10.7M | ||
| Q2 24 | $-88.9M | $20.6M | ||
| Q1 24 | $-2.3M | $15.0M |
| Q4 25 | -448.6% | 15.7% | ||
| Q3 25 | -516.1% | 9.2% | ||
| Q2 25 | 574.8% | 6.8% | ||
| Q1 25 | -475.4% | 12.0% | ||
| Q4 24 | -349.6% | 17.6% | ||
| Q3 24 | -215.3% | 10.8% | ||
| Q2 24 | -203.5% | 20.0% | ||
| Q1 24 | -5.4% | 15.3% |
| Q4 25 | 436.1% | 0.7% | ||
| Q3 25 | 388.4% | 1.4% | ||
| Q2 25 | -595.4% | 1.4% | ||
| Q1 25 | 486.6% | 1.8% | ||
| Q4 24 | 267.8% | 0.6% | ||
| Q3 24 | 90.3% | 1.1% | ||
| Q2 24 | 125.4% | 2.4% | ||
| Q1 24 | 95.0% | 1.7% |
| Q4 25 | — | 1.52× | ||
| Q3 25 | — | 0.80× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 1.15× | ||
| Q2 24 | — | 2.16× | ||
| Q1 24 | — | 1.63× |
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% |
EBF
Segment breakdown not available.
