ALAB vs. APLD

Last updated Apr 1, 2026

Compare and contrast key facts about Astera Labs, Inc. (ALAB) and Applied Digital Corporation (APLD).

Performance

ALAB vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Astera Labs, Inc. (ALAB) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

ALAB vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ALAB Astera Labs, Inc.	-34.12%	25.60%	113.53%
APLD Applied Digital Corporation	-3.18%	220.94%	64.30%

Fundamentals

Market Cap ALAB : $19.86B APLD : $6.33B
EPS ALAB : $1.22 APLD : -$0.51
PS Ratio ALAB : 23.14 APLD : 20.33
PB Ratio ALAB : 14.56 APLD : 4.37
Total Revenue (TTM) ALAB : $852.53M APLD : $281.74M
Gross Profit (TTM) ALAB : $645.26M APLD : $46.19M
EBITDA (TTM) ALAB : $200.85M APLD : -$49.02M

Returns By Period

In the year-to-date period, ALAB achieves a -34.12% return, which is significantly lower than APLD's -3.18% return.

ALAB

• 1D: 9.30%
• 1M: -7.77%
• YTD: -34.12%
• 6M: -44.02%
• 1Y: 83.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APLD

• 1D: 15.55%
• 1M: -12.94%
• YTD: -3.18%
• 6M: 3.49%
• 1Y: 322.42%
• 3Y*: 119.66%
• 5Y*: 76.65%
• 10Y*: 75.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ALAB vs. APLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALAB

ALAB Risk / Return Rank: 71
ALAB Sharpe Ratio Rank: 74
ALAB Sortino Ratio Rank: 74
ALAB Omega Ratio Rank: 72
ALAB Calmar Ratio Rank: 70
ALAB Martin Ratio Rank: 67

APLD

APLD Risk / Return Rank: 94
APLD Sharpe Ratio Rank: 95
APLD Sortino Ratio Rank: 93
APLD Omega Ratio Rank: 90
APLD Calmar Ratio Rank: 96
APLD Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALAB vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Astera Labs, Inc. (ALAB) and Applied Digital Corporation (APLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ALAB	APLD	Difference
Sharpe ratio Return per unit of total volatility	0.92	2.57	-1.66
Sortino ratio Return per unit of downside risk	1.73	3.14	-1.41
Omega ratio Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio Return relative to maximum drawdown	1.33	6.26	-4.93
Martin ratio Return relative to average drawdown	2.82	14.46	-11.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALAB vs. APLD - Sharpe Ratio Comparison

The current ALAB Sharpe Ratio is 0.92, which is lower than the APLD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of ALAB and APLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALAB	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	2.57	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.04	+0.32

Correlation

The correlation between ALAB and APLD is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ALAB vs. APLD - Dividend Comparison

Neither ALAB nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ALAB vs. APLD - Drawdown Comparison

The maximum ALAB drawdown since its inception was -63.69%, smaller than the maximum APLD drawdown of -99.70%. Use the drawdown chart below to compare losses from any high point for ALAB and APLD.

Drawdown Indicators

	ALAB	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-63.69%	-99.70%	+36.01%
Max Drawdown (1Y) Largest decline over 1 year	-60.19%	-50.31%	-9.88%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-97.10%	—
Current Drawdown Current decline from peak	-56.49%	-42.59%	-13.90%
Average Drawdown Average peak-to-trough decline	-30.60%	-84.03%	+53.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.48%	21.79%	+6.69%

Volatility

ALAB vs. APLD - Volatility Comparison

The current volatility for Astera Labs, Inc. (ALAB) is 25.38%, while Applied Digital Corporation (APLD) has a volatility of 32.29%. This indicates that ALAB experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALAB	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.38%	32.29%	-6.91%
Volatility (6M) Calculated over the trailing 6-month period	67.77%	77.82%	-10.05%
Volatility (1Y) Calculated over the trailing 1-year period	91.68%	126.27%	-34.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	91.65%	187.90%	-96.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.65%	295.81%	-204.16%

Financials

ALAB vs. APLD - Profitability Comparison

The chart below illustrates the profitability comparison between Astera Labs, Inc. and Applied Digital Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ALAB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Astera Labs, Inc. reported a gross profit of 204.48M and revenue of 270.58M. Therefore, the gross margin over that period was 75.6%.

APLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported a gross profit of 26.04M and revenue of 126.59M. Therefore, the gross margin over that period was 20.6%.

ALAB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Astera Labs, Inc. reported an operating income of 66.96M and revenue of 270.58M, resulting in an operating margin of 24.8%.

APLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported an operating income of -30.96M and revenue of 126.59M, resulting in an operating margin of -24.5%.

ALAB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Astera Labs, Inc. reported a net income of 44.98M and revenue of 270.58M, resulting in a net margin of 16.6%.

APLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported a net income of -17.51M and revenue of 126.59M, resulting in a net margin of -13.8%.