APLD vs. MS: A Head-to-Head Stock Comparison

Updated on October 7, 2025

Here’s a clear look at APLD and MS, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Symbol	APLD	MS
Company Name	Applied Digital Corporation	Morgan Stanley
Country	United States	United States
GICS Sector	Information Technology	Financials
GICS Industry	Software	Capital Markets
Market Capitalization	7.14 billion USD	251.57 billion USD
Exchange	NasdaqGS	NYSE
Listing Date	April 13, 2022	February 23, 1993
Security Type	Common Stock	Common Stock

Historical Performance

This chart compares the performance of APLD and MS by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

APLD vs. MS: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	APLD	MS
5-Day Price Return	19.77%	-2.22%
13-Week Price Return	153.88%	9.33%
26-Week Price Return	372.06%	35.07%
52-Week Price Return	223.93%	50.78%
Month-to-Date Return	15.65%	-0.86%
Year-to-Date Return	247.25%	25.35%
10-Day Avg. Volume	29.80M	5.11M
3-Month Avg. Volume	42.46M	5.28M
3-Month Volatility	103.68%	17.88%
Beta	7.08	1.23

Profitability

Return on Equity (TTM)

APLD

-48.16%

Software Industry

Max: 66.28%
Q3: 21.28%
Median: 9.33%
Q1: -8.77%
Min: -48.16%

APLD has a negative Return on Equity of -48.16%. This indicates the company is generating a loss for its shareholders, which can be a result of unprofitability or negative shareholder equity and is often a sign of financial distress.

MS

13.95%

Capital Markets Industry

Max: 38.97%
Q3: 22.24%
Median: 13.52%
Q1: 8.61%
Min: -4.25%

MS’s Return on Equity of 13.95% is on par with the norm for the Capital Markets industry, indicating its profitability relative to shareholder equity is typical for the sector.

APLD vs. MS: A comparison of their Return on Equity (TTM) against their respective Software and Capital Markets industry benchmarks.

Net Profit Margin (TTM)

APLD

-109.85%

Software Industry

Max: 51.92%
Q3: 19.23%
Median: 6.98%
Q1: -7.14%
Min: -41.00%

APLD has a negative Net Profit Margin of -109.85%, indicating the company is operating at a net loss as its expenses exceeded its revenues.

MS

13.06%

Capital Markets Industry

Max: 69.91%
Q3: 37.24%
Median: 24.30%
Q1: 13.06%
Min: -15.18%

MS’s Net Profit Margin of 13.06% is aligned with the median group of its peers in the Capital Markets industry. This indicates its ability to convert revenue into profit is typical for the sector.

APLD vs. MS: A comparison of their Net Profit Margin (TTM) against their respective Software and Capital Markets industry benchmarks.

Operating Profit Margin (TTM)

APLD

-37.26%

Software Industry

Max: 60.40%
Q3: 21.25%
Median: 9.90%
Q1: -4.97%
Min: -43.50%

APLD has a negative Operating Profit Margin of -37.26%. This signifies the company is unprofitable at the operational level, as its core business expenses exceed its revenue.

MS

17.07%

Capital Markets Industry

Max: 84.86%
Q3: 47.16%
Median: 32.23%
Q1: 18.65%
Min: -21.87%

MS’s Operating Profit Margin of 17.07% is in the lower quartile for the Capital Markets industry. This indicates weaker profitability from core operations, which may stem from inefficiencies or competitive pressures on pricing.

APLD vs. MS: A comparison of their Operating Profit Margin (TTM) against their respective Software and Capital Markets industry benchmarks.

Profitability at a Glance

Symbol	APLD	MS
Return on Equity (TTM)	-48.16%	13.95%
Return on Assets (TTM)	-15.26%	1.15%
Net Profit Margin (TTM)	-109.85%	13.06%
Operating Profit Margin (TTM)	-37.26%	17.07%
Gross Profit Margin (TTM)	5.58%	54.42%

Financial Strength

Current Ratio (MRQ)

APLD

0.77

Software Industry

Max: 4.29
Q3: 2.37
Median: 1.40
Q1: 1.03
Min: 0.25

APLD’s Current Ratio of 0.77 falls into the lower quartile for the Software industry. This indicates a tighter liquidity situation and a more constrained capacity to handle short-term debt than many of its competitors.

MS

0.29

Capital Markets Industry

Max: 3.37
Q3: 1.81
Median: 1.01
Q1: 0.56
Min: 0.04

For the Capital Markets industry, the Current Ratio is often not the most suitable measure of short-term liquidity.

APLD vs. MS: A comparison of their Current Ratio (MRQ) against their respective Software and Capital Markets industry benchmarks.

Debt-to-Equity Ratio (MRQ)

APLD

1.11

Software Industry

Max: 2.16
Q3: 0.86
Median: 0.31
Q1: 0.00
Min: 0.00

APLD’s leverage is in the upper quartile of the Software industry, with a Debt-to-Equity Ratio of 1.11. While this approach can boost equity growth, it also exposes the company to greater financial vulnerability.

MS

7.68

Capital Markets Industry

Max: 6.52
Q3: 2.79
Median: 0.96
Q1: 0.28
Min: 0.00

The Debt-to-Equity Ratio is often not the primary focus for assessing leverage in the Capital Markets industry.

APLD vs. MS: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Software and Capital Markets industry benchmarks.

Interest Coverage Ratio (TTM)

APLD

-9.74

Software Industry

Max: 89.65
Q3: 32.64
Median: 1.00
Q1: -9.84
Min: -71.23

APLD has a negative Interest Coverage Ratio of -9.74. This indicates that its earnings were insufficient to cover even its operational costs, let alone its interest payments, signaling significant financial distress.

MS

1.25

Capital Markets Industry

Max: 107.59
Q3: 48.41
Median: 10.85
Q1: 4.56
Min: -36.26

The Interest Coverage Ratio is often not a primary indicator of debt servicing capacity in the Capital Markets industry.

APLD vs. MS: A comparison of their Interest Coverage Ratio (TTM) against their respective Software and Capital Markets industry benchmarks.

Financial Strength at a Glance

Symbol	APLD	MS
Current Ratio (MRQ)	0.77	0.29
Quick Ratio (MRQ)	0.75	0.29
Debt-to-Equity Ratio (MRQ)	1.11	7.68
Interest Coverage Ratio (TTM)	-9.74	1.25

Growth

Revenue Growth

APLD vs. MS: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

APLD vs. MS: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

APLD

0.04%

Software Industry

Max: 0.22%
Q3: 0.11%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

APLD’s Dividend Yield of 0.04% is consistent with its peers in the Software industry, providing a dividend return that is standard for its sector.

MS

2.54%

Capital Markets Industry

Max: 9.02%
Q3: 4.54%
Median: 2.55%
Q1: 1.27%
Min: 0.00%

MS’s Dividend Yield of 2.54% is consistent with its peers in the Capital Markets industry, providing a dividend return that is standard for its sector.

APLD vs. MS: A comparison of their Dividend Yield (TTM) against their respective Software and Capital Markets industry benchmarks.

Dividend Payout Ratio (TTM)

APLD

0.00%

Software Industry

Max: 3.29%
Q3: 2.41%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

APLD has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

MS

43.20%

Capital Markets Industry

Max: 199.38%
Q3: 99.28%
Median: 60.67%
Q1: 32.00%
Min: 0.00%

MS’s Dividend Payout Ratio of 43.20% is within the typical range for the Capital Markets industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

APLD vs. MS: A comparison of their Dividend Payout Ratio (TTM) against their respective Software and Capital Markets industry benchmarks.

Dividend at a Glance

Symbol	APLD	MS
Dividend Yield (TTM)	0.04%	2.54%
Dividend Payout Ratio (TTM)	0.00%	43.20%

Valuation

Price-to-Earnings Ratio (TTM)

APLD

Software Industry

Max: 145.74
Q3: 94.88
Median: 45.35
Q1: 26.66
Min: 8.80

P/E Ratio data for APLD is currently unavailable.

MS

16.98

Capital Markets Industry

Max: 51.69
Q3: 29.42
Median: 17.58
Q1: 12.55
Min: 5.59

MS’s P/E Ratio of 16.98 is within the middle range for the Capital Markets industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

APLD vs. MS: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Software and Capital Markets industry benchmarks.

Price-to-Sales Ratio (TTM)

APLD

30.82

Software Industry

Max: 25.67
Q3: 13.68
Median: 8.28
Q1: 4.95
Min: 0.90

With a P/S Ratio of 30.82, APLD trades at a valuation that eclipses even the highest in the Software industry. This implies the market has priced in exceptionally optimistic scenarios for future revenue growth, posing considerable valuation risk.

MS

2.22

Capital Markets Industry

Max: 14.65
Q3: 7.29
Median: 4.53
Q1: 2.26
Min: 0.04

In the lower quartile for the Capital Markets industry, MS’s P/S Ratio of 2.22 indicates its revenue is valued more conservatively than most of its peers. This could present a compelling opportunity if the market has overlooked its sales-generating capabilities.

APLD vs. MS: A comparison of their Price-to-Sales Ratio (TTM) against their respective Software and Capital Markets industry benchmarks.

Price-to-Book Ratio (MRQ)

APLD

3.60

Software Industry

Max: 30.67
Q3: 14.92
Median: 8.52
Q1: 3.89
Min: 0.38

APLD’s P/B Ratio of 3.60 is in the lower quartile for the Software industry. From a value investing perspective, this is favorable, as it suggests the stock is trading at a discount to its net asset value and may offer a greater margin of safety.

MS

2.08

Capital Markets Industry

Max: 10.83
Q3: 5.12
Median: 2.66
Q1: 1.19
Min: 0.37

MS’s P/B Ratio of 2.08 is within the conventional range for the Capital Markets industry. This shows a balanced market view, where the stock’s price is neither at a significant premium nor a discount to the book value of its peers.

APLD vs. MS: A comparison of their Price-to-Book Ratio (MRQ) against their respective Software and Capital Markets industry benchmarks.

Valuation at a Glance

Symbol	APLD	MS
Price-to-Earnings Ratio (TTM)	--	16.98
Price-to-Sales Ratio (TTM)	30.82	2.22
Price-to-Book Ratio (MRQ)	3.60	2.08
Price-to-Free Cash Flow Ratio (TTM)	26,222.39	11.40