APLD vs. ALAB

Last updated Apr 1, 2026

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

Performance

APLD vs. ALAB - Performance Comparison

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

APLD vs. ALAB - Yearly Performance Comparison

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

Fundamentals

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

Returns By Period

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

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%

ALAB

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

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

Return for Risk

APLD vs. ALAB — Risk / Return Rank

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

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

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

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.

APLD vs. ALAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Digital Corporation (APLD) and Astera Labs, Inc. (ALAB). 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.

	APLD	ALAB	Difference
Sharpe ratio Return per unit of total volatility	2.57	0.92	+1.66
Sortino ratio Return per unit of downside risk	3.14	1.73	+1.41
Omega ratio Gain probability vs. loss probability	1.39	1.22	+0.17
Calmar ratio Return relative to maximum drawdown	6.26	1.33	+4.93
Martin ratio Return relative to average drawdown	14.46	2.82	+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.

APLD vs. ALAB - Sharpe Ratio Comparison

The current APLD Sharpe Ratio is 2.57, which is higher than the ALAB Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of APLD and ALAB, 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

	APLD	ALAB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	0.92	+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	0.04	0.36	-0.32

Correlation

The correlation between APLD and ALAB 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

APLD vs. ALAB - Dividend Comparison

Neither APLD nor ALAB has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

APLD vs. ALAB - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

APLD vs. ALAB - Volatility Comparison

Applied Digital Corporation (APLD) has a higher volatility of 32.29% compared to Astera Labs, Inc. (ALAB) at 25.38%. This indicates that APLD's price experiences larger fluctuations and is considered to be riskier than ALAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Financials

APLD vs. ALAB - Profitability Comparison

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

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 - 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 - 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 - 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 - 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%.

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%.