APP

Applovin
D

APP

Arincen86/100B

If you had invested in Applovin ago, it would be worth $3,504 today, against $1,732 in SPY and $1,797 in QQQ.

ArincenArincen ScoreBeta

86/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength10

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders3.3

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Applovin key facts

Style
Growth stock · 10.0/10Growth 10.0 · Value 4.4
Day range
391.95 – 413.62
52-week range
225.19 – 738.01
Market capitalization
121.76B USD
P/E
27.11
PEG ratio
0.90
EPS
14.91
EPS growth forecast (FY2026)
+68.4%
Volume
41,199
Beta
2.51
ESG score
63.2/100Environment 62 · Social 68 · Governance 60
Sector
Technology
Industry
Software - Application
CEO
Adam Arash Foroughi
Employees
887
IPO date
15 Apr 2021

Applovin earnings

Next earnings · Q4 FY2026
EPS estimate
4.66 USD
Revenue estimate
2.38B USD
Last quarter · Q3 FY2026
EPS4.30Beat +6.7%Revenue2.18BBeat +5.3%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20275.29——+22.93%2.66B——+21.90%
Q2 FY20274.92——+30.80%2.50B——+30.14%
Q1 FY20274.72——+32.71%2.40B——+30.52%
Q4 FY20264.66——+43.83%2.38B——+43.59%
Q3 FY20264.034.30+6.70%+75.51%2.07B2.18B+5.30%+55.50%
Q2 FY20263.763.760.00%+66.37%1.94B1.92B-0.94%+52.82%
Q1 FY20263.403.56+4.71%+113.17%1.77B1.84B+3.87%+24.15%
Q4 FY20252.953.24+9.83%+87.28%1.61B1.66B+2.84%+20.77%
Q3 FY20252.382.45+2.94%+96.00%1.34B1.41B+4.68%+17.26%
Q2 FY20251.962.26+15.31%+153.93%1.22B1.26B+2.81%+16.54%

Analysts' estimates for FY2026 over the last 7 days:EPS Revenue How the estimates moved

Applovin analyst forecast

12-month price target
482.94 USD
+19.49%

Analysts' 1-year price targets range from 325.00 to 775.00, with an average of 482.94.

Past year
1-year forecast
Strong sellStrong buy
Buy
18 ratings
Buy
13
Hold
5
Sell
0

12-month price target

Highest target775.00
Average target482.94
Lowest target325.00
Current price404.18

Applovin valuation

Price to earnings ratio (TTM)
27.11
Forward P/E (FY2026)
24.94
Price to sales (TTM)
16.00
Price to book
36.91
EV / EBITDA (TTM)
19.47

Capital structure

Market capitalization
121.76B USD
+
Total debt
3.52B USD
−
Cash and short-term investments
3.17B USD
=
Enterprise value
122.10B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)15.76————
FY2027 (est.)19.5315.76———
FY2026 (est.)24.9419.53———
Now (TTM)27.1120.1116.0036.9119.47
FY202568.4841.5841.65106.9452.66
FY202469.1934.4733.84100.1147.07
FY202339.469.857.6211.1613.21
FY2022-20.2512.461.392.0611.90
FY2021965.7846,739.2910.9614.3255.86

Applovin against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Meta Platforms, Inc. Depositary Shares representing a 1/20th Interest in a Share of Series A Mandatory Convertible Preferred Stock, ServiceNow, Automatic Data Processing, Adobe, Snowflake, and Intuit, the US Software - Application companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • Gross marginHighest in 5 years87.9%
    55.4%87.9%
    Against its peers: 2 of 6Peers' median 77.5%
  • Operating marginHighest in 5 years75.8%
    -1.7%75.8%
    Against its peers: 1 of 6Peers' median 18.6%
  • Net marginHighest in 5 years60.8%
    -6.8%60.8%
    Against its peers: 1 of 6Peers' median 20.1%
  • Return on equityHighest in 5 years156.2%
    -10.1%156.2%
    Against its peers: 1 of 6Peers' median 24.0%
  • Free cash flow marginHighest in 5 years71.9%
    12.9%71.9%
    Against its peers: 1 of 6Peers' median 34.5%
  • Revenue growthAt its median70.0%
    -34.6%92.5%
    Against its peers: 1 of 6Peers' median 13.9%
  • EPS growthAt its median115.2%
    -659.1%362.2%
    Against its peers: 1 of 5Peers' median 21.2%
  • Debt to EBITDALowest in 5 years0.81×
    0.81×6.38×
    Against its peers: 3 of 5Peers' median 0.81×
  • Current ratioAt its median3.32
    1.715.05
    Against its peers: 1 of 6Peers' median 1.00

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Applovin growth and profitability

Revenue (TTM)
7.61B USD
Net income (TTM)
5.01B USD
Gross margin
88.78%
Operating margin
77.78%
Net margin
65.89%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20255.48B+69.99%3.33B+111.03%87.86%75.75%60.83%4.35B+83.14%
FY20243.22B+75.05%1.58B+342.26%83.85%59.27%49.00%2.38B+88.10%
FY20231.84B-34.62%357.21M—80.64%41.94%19.40%1.26B+146.05%
FY20222.82B+0.86%-192.75M-643.77%55.41%-1.70%-6.84%513.77M-11.50%
FY20212.79B+92.48%35.45M—64.62%5.37%1.27%580.54M+194.52%

Applovin revenue breakdown

By product

FY2025
100.0%Reportable
SegmentRevenueShare of revenueChange on the year
Reportable5.48B100.0%—

By region

FY2025
United States: 51.6%Non-US: 48.4%51.6%United States48.4%Non-US
RegionRevenueShare of revenueChange on the year
United States2.83B51.6%+5.1%
Non-US2.65B48.4%—

How Applovin makes its money

Reportable5.48B 100.0%
Revenue5.48B 100.0%
Cost of revenue665.14M 12.1%
Gross profit4.82B 87.9%
Research and development226.51M 4.1%
Selling and administration437.15M 8.0%
Operating income4.15B 75.8%
Tax519.72M 9.5%
Other expense298.44M 5.4%
Net income3.33B 60.8%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Applovin financial health

Cash and short-term investments
3.17B USD
Total debt
3.52B USD
Net cash
-342.41M USD
Free cash flow (TTM)
4.87B USD
Current ratio
3.80
Debt to equity
1.07
Piotroski score
7 / 9
Altman Z-score
18.19

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20252.49B3.54B3.94B
FY2024741.41M3.56B2.09B
FY2023502.15M3.18B1.06B
FY20221.08B3.28B412.11M
FY20211.52B3.33B360.46M

Applovin ownership

Institutions
67.87%
Institutional holders
1,569 (+84)
Free float
87.58%

Who owns the shares

Institutions 67.9% Others 32.1%
As of 30 Jun 2026

Shares free to trade

Free float 263.85M shares ·87.6% Closely held 37.41M shares ·12.4%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 202600131.000.00
Q3 202609457.55K475.02K
Q2 202601733.75K423.90K
Q1 20260143250.03K656.41K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025338.78M341.97M-1.68%
FY2024336.92M347.81M-4.08%
FY2023351.95M362.59M-2.42%
FY2022371.57M371.57M+8.40%
FY2021324.84M342.76M+59.47%

Source: Financial Modeling Prep

Related Instruments

Title: Applovin Corp

Sector: Communication Services
Industry: Software - Application
AppLovin is a vertically integrated advertising technology company that serves as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange that facilitates transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max. AppLovin's primary tool for future growth is Axon 2, an ad optimizer within the DSP that lets advertisers place ads based on specified return thresholds.

Common questions about Applovin stock