BASE vs. APLD

Last updated Apr 1, 2026

Compare and contrast key facts about Couchbase, Inc. (BASE) and Applied Digital Corporation (APLD).

Performance

BASE vs. APLD - Performance Comparison

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

BASE vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BASE Couchbase, Inc.	0.00%	57.22%	-30.77%	69.83%	-46.88%	-17.89%
APLD Applied Digital Corporation	-3.18%	220.94%	13.35%	266.30%	-92.68%	246.28%

Fundamentals

Market Cap BASE : $1.34B APLD : $6.33B
EPS BASE : -$1.39 APLD : -$0.51
PS Ratio BASE : 6.02 APLD : 20.33
PB Ratio BASE : 10.81 APLD : 4.37
Total Revenue (TTM) BASE : $220.64M APLD : $281.74M
Gross Profit (TTM) BASE : $193.63M APLD : $46.19M
EBITDA (TTM) BASE : -$69.57M APLD : -$49.02M

Returns By Period

BASE

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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

BASE vs. APLD — 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

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.

BASE vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Couchbase, Inc. (BASE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BASE	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.57	—
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	—

Correlation

The correlation between BASE and APLD is 0.20, 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

BASE vs. APLD - Dividend Comparison

Neither BASE nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

Drawdown Indicators

	BASE	APLD	Difference
Max Drawdown Largest peak-to-trough decline	—	-99.70%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-50.31%	—
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%	—
Average Drawdown Average peak-to-trough decline	—	-84.03%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	21.79%	—

Volatility

Volatility by Period

	BASE	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	32.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	77.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	126.27%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	187.90%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	295.81%	—

Financials

BASE vs. APLD - Profitability Comparison

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

BASE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Couchbase, Inc. reported a gross profit of 50.23M and revenue of 57.57M. Therefore, the gross margin over that period was 87.3%.

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%.

BASE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Couchbase, Inc. reported an operating income of -25.40M and revenue of 57.57M, resulting in an operating margin of -44.1%.

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%.

BASE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Couchbase, Inc. reported a net income of -23.79M and revenue of 57.57M, resulting in a net margin of -41.3%.

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%.