Applied Digital (APLD) vs D-Wave Quantum (QBTS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Applied Digital (APLD) has outperformed D-Wave Quantum (QBTS) over the past year, losing 12.8% versus a loss of 57.4%. Applied Digital is the larger company by market cap ($7.06 billion vs $5.60 billion), about 1.3 times the size, while D-Wave Quantum is growing revenue faster (+178.5% vs +167.5%). Applied Digital converts more of its revenue into profit, with a net margin of -30.2% versus -1444.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | APLD | QBTS |
|---|---|---|
| Share price | $23.61 | $14.75 |
| Market cap | $7.06B | $5.60B |
| 1-day change | -0.86% | -3.09% |
| YTD return | -2.90% | -41.80% |
| 1-year return | -12.78% | -57.39% |
| 5-year return | — | +55.15% |
| EPS (TTM) | $-0.91 | $-0.69 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $611.31M | $24.59M |
| Revenue growth (YoY) | +167.45% | +178.54% |
| Net income (latest FY) | $-184.34M | $-355.06M |
| Gross margin | 35.08% | 82.59% |
| Operating margin | -38.68% | -408.22% |
| Net margin | -30.15% | -1444.10% |
| 52-week high | $50.73 | $46.75 |
| 52-week low | $19.01 | $12.75 |
| Distance from 52-week high | -53.46% | -68.45% |
| Analyst consensus | strong_buy | strong_buy |
| Avg. price target upside | +176.93% | +134.92% |
| Average volume | 18.15M | 16.69M |
| Shares outstanding | 299.17M | 376.45M |
| Employees | 256 | 382 |
| Sector | Technology | Technology |
| Industry | EDP Services | EDP Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- APLD has outperformed QBTS by 44.6 percentage points over the past year.
- Applied Digital is more profitable, keeping -30.2 cents of every revenue dollar as net income versus -1444.1 cents for D-Wave Quantum.
- D-Wave Quantum grew revenue faster in its latest fiscal year (+178.54% vs +167.45%).
About Applied Digital
APLD stock →Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting, and HPC Hosting Business.
Technology · EDP Services · 256 employees
About D-Wave Quantum
QBTS stock →D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide.
Technology · EDP Services · 382 employees
APLD vs QBTS FAQ
Which is bigger, Applied Digital or D-Wave Quantum?
Applied Digital (APLD) is larger, with a market capitalization of $7.06B compared with $5.60B for D-Wave Quantum (QBTS).
Which stock has performed better over the past year, APLD or QBTS?
APLD returned -12.78% over the past 12 months, compared with -57.39% for QBTS (price return, excluding dividends). Past performance does not predict future results.
Are Applied Digital and D-Wave Quantum in the same industry?
Yes. Both are classified in the EDP Services industry within the Technology sector.