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Side-by-side financial comparison of Applied Digital Corp. (APLD) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
STONERIDGE INC is the larger business by last-quarter revenue ($205.2M vs $126.6M, roughly 1.6× Applied Digital Corp.). On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs -6.0%). STONERIDGE INC produced more free cash flow last quarter ($2.6M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs -7.4%).
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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
APLD vs SRI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $205.2M |
| Net Profit | $-14.4M | — |
| Gross Margin | 20.6% | 16.2% |
| Operating Margin | -24.5% | -14.4% |
| Net Margin | -11.4% | — |
| Revenue YoY | 98.2% | -6.0% |
| Net Profit YoY | 89.6% | — |
| EPS (diluted) | $-0.07 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $64.2M | $210.3M | ||
| Q2 25 | $-33.3M | $228.0M | ||
| Q1 25 | $52.9M | $217.9M | ||
| Q4 24 | $63.9M | $218.2M | ||
| Q3 24 | $60.7M | $213.8M | ||
| Q2 24 | $43.7M | $237.1M | ||
| Q1 24 | $43.3M | $239.2M |
| Q4 25 | $-14.4M | — | ||
| Q3 25 | $-16.9M | $-9.4M | ||
| Q2 25 | $-52.5M | $-9.4M | ||
| Q1 25 | $-35.6M | $-7.2M | ||
| Q4 24 | $-138.7M | — | ||
| Q3 24 | $-4.2M | $-7.1M | ||
| Q2 24 | $-64.5M | $2.8M | ||
| Q1 24 | $-62.8M | $-6.1M |
| Q4 25 | 20.6% | 16.2% | ||
| Q3 25 | 13.4% | 20.3% | ||
| Q2 25 | — | 21.5% | ||
| Q1 25 | 7.1% | 21.2% | ||
| Q4 24 | 18.0% | 19.5% | ||
| Q3 24 | -0.6% | 20.8% | ||
| Q2 24 | -9.1% | 22.7% | ||
| Q1 24 | -8.6% | 20.2% |
| Q4 25 | -24.5% | -14.4% | ||
| Q3 25 | -34.7% | -1.6% | ||
| Q2 25 | — | -1.1% | ||
| Q1 25 | -35.8% | -1.5% | ||
| Q4 24 | -29.1% | -2.0% | ||
| Q3 24 | 15.6% | 0.1% | ||
| Q2 24 | -68.4% | 1.4% | ||
| Q1 24 | -128.8% | 0.1% |
| Q4 25 | -11.4% | — | ||
| Q3 25 | -26.4% | -4.5% | ||
| Q2 25 | 157.8% | -4.1% | ||
| Q1 25 | -67.2% | -3.3% | ||
| Q4 24 | -217.2% | — | ||
| Q3 24 | -7.0% | -3.3% | ||
| Q2 24 | -147.5% | 1.2% | ||
| Q1 24 | -145.0% | -2.6% |
| Q4 25 | $-0.07 | $-2.76 | ||
| Q3 25 | $-0.07 | $-0.34 | ||
| Q2 25 | $-0.31 | $-0.34 | ||
| Q1 25 | $-0.16 | $-0.26 | ||
| Q4 24 | $-0.66 | $-0.22 | ||
| Q3 24 | $-0.03 | $-0.26 | ||
| Q2 24 | $-0.57 | $0.10 | ||
| 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 | $66.3M |
| Total DebtLower is stronger | — | $180.9M |
| Stockholders' EquityBook value | $1.4B | $179.8M |
| Total Assets | $5.2B | $551.2M |
| Debt / EquityLower = less leverage | — | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $66.3M | ||
| Q3 25 | $73.9M | $54.0M | ||
| Q2 25 | $41.6M | $49.8M | ||
| Q1 25 | $68.7M | $79.1M | ||
| Q4 24 | $286.2M | $71.8M | ||
| Q3 24 | $58.2M | $54.1M | ||
| Q2 24 | $3.3M | $42.1M | ||
| Q1 24 | $4.4M | $48.4M |
| Q4 25 | — | $180.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $201.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $179.8M | ||
| Q3 25 | $1.0B | $251.2M | ||
| Q2 25 | $497.7M | $260.5M | ||
| Q1 25 | $454.6M | $253.1M | ||
| Q4 24 | $434.6M | $245.3M | ||
| Q3 24 | $241.8M | $271.4M | ||
| Q2 24 | $124.8M | $270.5M | ||
| Q1 24 | $118.5M | $277.3M |
| Q4 25 | $5.2B | $551.2M | ||
| Q3 25 | $2.4B | $632.1M | ||
| Q2 25 | $1.9B | $639.4M | ||
| Q1 25 | $1.7B | $657.4M | ||
| Q4 24 | $1.5B | $621.6M | ||
| Q3 24 | $937.7M | $662.5M | ||
| Q2 24 | $762.9M | $666.7M | ||
| Q1 24 | $643.2M | $675.4M |
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.8M |
| Free Cash FlowOCF − Capex | $-567.9M | $2.6M |
| FCF MarginFCF / Revenue | -448.6% | 1.3% |
| Capex IntensityCapex / Revenue | 436.1% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $8.8M | ||
| Q3 25 | $-82.0M | $3.6M | ||
| Q2 25 | $6.9M | $10.7M | ||
| Q1 25 | $5.9M | $10.9M | ||
| Q4 24 | $-52.3M | $19.2M | ||
| Q3 24 | $-75.9M | $10.8M | ||
| Q2 24 | $-34.1M | $8.7M | ||
| Q1 24 | $38.8M | $9.1M |
| Q4 25 | $-567.9M | $2.6M | ||
| Q3 25 | $-331.4M | $-2.7M | ||
| Q2 25 | $-191.4M | $7.4M | ||
| Q1 25 | $-251.6M | $4.8M | ||
| Q4 24 | $-223.3M | $14.0M | ||
| Q3 24 | $-130.7M | $4.6M | ||
| Q2 24 | $-88.9M | $1.5M | ||
| Q1 24 | $-2.3M | $3.3M |
| Q4 25 | -448.6% | 1.3% | ||
| Q3 25 | -516.1% | -1.3% | ||
| Q2 25 | 574.8% | 3.3% | ||
| Q1 25 | -475.4% | 2.2% | ||
| Q4 24 | -349.6% | 6.4% | ||
| Q3 24 | -215.3% | 2.2% | ||
| Q2 24 | -203.5% | 0.6% | ||
| Q1 24 | -5.4% | 1.4% |
| Q4 25 | 436.1% | 3.0% | ||
| Q3 25 | 388.4% | 3.0% | ||
| Q2 25 | -595.4% | 1.4% | ||
| Q1 25 | 486.6% | 2.8% | ||
| Q4 24 | 267.8% | 2.4% | ||
| Q3 24 | 90.3% | 2.9% | ||
| Q2 24 | 125.4% | 3.0% | ||
| Q1 24 | 95.0% | 2.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.11× | ||
| Q1 24 | — | — |
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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
