COMP <GO>
WAY vs APLD // EV/EBITDA & P/E VALUATION
Waystar Holding Corp. (NASDAQ) VS. Applied Digital Corporation (NASDAQ) • 15-METRIC TALLY: WAY 8
— APLD 3
■ METRIC PARITY
LAST: $28.00 (-0.74%) • MKT CAP: $5.41B
valuation
23.4x
LAST: $17.82 (-8.22%) • MKT CAP: $5.87B
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (WAY VS. APLD)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | WAY | APLD | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | 35.10% | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 3.70% | -21.70% | +25.40 | WAY | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | 23.4x | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 4.81% | 1.06% | +3.75 | WAY | /fcf-yield <GO> |
| Operating Margin | 22.70% | -38.70% | +61.40 | WAY | /operating-margins <GO> |
| Net Profit Margin | 10.20% | -40.90% | +51.10 | WAY | /net-margins <GO> |
| Revenue Growth (YoY) | 16.50% | 180.00% | -163.50 | APLD | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 2.03 | 1.44 | +0.59 | WAY | /balance-sheet <GO> |
| Piotroski F-Score Quality | 9/9 | 7/9 | +2.00 | WAY | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 56.7 | 43.1 | +13.60 | WAY | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 1.39 | 1.17 | +0.22 | WAY | /macro-sensitivity <GO> |
| Forward P/E Multiple | 40.6x | 20.0x | +20.60 | APLD | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $5.41B | $5.87B | -$460.1M | APLD | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | WAY REV | APLD REV | WAY GROSS % | APLD GROSS % | WAY FCF | APLD FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $1.10B | $611.3M | — | 35.1% | $260.2M | $62.2M |
| FY 2024 | $943.5M | $144.2M | — | -50.3% | $127.3M | -$121.9M |
| FY 2023 | $791.0M | $136.6M | — | — | $15.9M | $7.6M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
WAY // BETA 1.39
APLD // BETA 1.17