AppLovin Corp (APP)
AppLovin Corporation provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally. It operates through two segments, Advertising and Apps. The company offers Axon Ads Manager, a suite of marketing solutions that enables developers to automate, optimize, and manage marketing efforts; MAX, an in-app bidding technology that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform; and Wurl, a connected TV platform, which distributes streaming video for content companies, provides advertising and publishing solutions. It serves individuals, small and independent businesses, enterprises, advertisers and advertising networks, mobile app publishers, and indie studio developers. The company was incorporated in 2011 and is headquartered in Palo Alto, California.
- Ticker
- APP
- Exchange
- Nasdaq
- Sector
- Communication Services
- Industry
- Advertising Agencies
- Market cap
- $129.62B
- 52-week range
- $225.19 - $738.01
Valuation
- Share price
- $391.22 (close of Nov 6, 2026)
- P/E (TTM)
- 26.26x
- Price to book
- 39.29x
- Price to free cash flow
- 26.44x
- Enterprise value
- $129.96B
- Book value per share
- $9.96
Price performance
| Period | Change |
|---|---|
| 1 day | +9.86% |
| 5 days | +71.21% |
| 1 month | +40.33% |
| 3 months | +16.55% |
| 6 months | -16.55% |
| Year to date | -41.94% |
| 1 year | -37.04% |
| 3 years | +892.44% |
| 5 years | +297.30% |
| All time | +500.03% |
Short interest
- As of
- Oct 15, 2026
- Short % of float
- 3.88%
- Shares short
- 11.16M
- Days to cover
- 2.18
- Change since prior report
- -3.87%
- Source
- FINRA consolidated short interest
Members of Congress who disclosed APP trades
Gilbert Ray Cisneros · Jefferson Shreve · Josh Gottheimer · Robert Bresnahan · Alan Armstrong · Val Hoyle
Super investors holding APP
Philippe Laffont (Coatue Management) · Stephen Mandel (Lone Pine Capital LLC) · Terry Smith (Fundsmith LLP) · Pat Dorsey (Dorsey Asset Management) · Christopher Davis (Davis Selected Advisers) · Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates)
Profitability and growth
- Return on equity
- 156.17%
- Return on invested capital
- 63.95%
- Return on assets
- 45.92%
- Return on capital employed
- 70.06%
- Gross margin
- 87.86%
- Net margin
- 60.83%
- EBITDA margin
- 79.31%
- Revenue growth
- 69.99%
- Net income growth
- 111.03%
- Free cash flow growth
- 89.62%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 3.78%
- Current ratio
- 3.80x
- Net debt to EBITDA
- 0.05x
Latest reported year
- Period end
- Dec 31, 2025
- Fiscal year
- 2025
- Revenue
- $5.48B
- Cost of revenue
- $665.14M
- Gross profit
- $4.82B
- EBITDA
- $4.35B
- Net income
- $3.33B
- Earnings per share
- $9.84
- Research and development
- $226.51M
- Interest expense
- $207.02M
- Shares outstanding
- 338.78M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $5.48B | $4.82B | $3.33B | $9.84 |
| 2024-12-31 | $3.22B | $2.70B | $1.58B | $4.68 |
| 2023-12-31 | $1.84B | $1.49B | $356.71M | $1.01 |
| 2022-12-31 | $2.82B | $1.56B | -$192.75M | -$0.52 |
| 2021-12-31 | $2.79B | $1.81B | $35.45M | $0.10 |
| 2020-12-31 | $1.45B | $895.51M | -$125.19M | -$0.58 |
| 2019-12-31 | $994.10M | $752.83M | $119.04M | $0.36 |
| 2018-12-31 | $483.36M | $429.61M | -$260.00M | - |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 87.86% | 60.83% | 156.17% | 63.95% |
| 2024-12-31 | 83.85% | 49.00% | 144.96% | 40.66% |
| 2023-12-31 | 80.64% | 19.37% | 28.39% | 16.43% |
| 2022-12-31 | 55.41% | -6.84% | -10.13% | -0.69% |
| 2021-12-31 | 64.62% | 1.27% | 1.66% | 2.53% |
| 2020-12-31 | 61.71% | -8.63% | - | -3.39% |
| 2019-12-31 | 75.73% | 11.97% | - | 19.93% |
| 2018-12-31 | 88.88% | -53.79% | - | 53.31% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $2.49B | $3.51B |
| 2024-12-31 | $697.03M | $3.51B |
| 2023-12-31 | $502.15M | $2.91B |
| 2022-12-31 | $1.08B | $3.18B |
| 2021-12-31 | $1.52B | $3.20B |
| 2020-12-31 | $317.24M | $1.58B |
| 2019-12-31 | $396.25M | $1.18B |
| 2018-12-31 | $276.12M | $796.09M |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $3.97B | $210.42M |
| 2024-12-31 | $2.09B | $369.37M |
| 2023-12-31 | $1.06B | $363.11M |
| 2022-12-31 | $412.11M | $191.61M |
| 2021-12-31 | $360.46M | $133.18M |
| 2020-12-31 | $219.64M | $62.39M |
| 2019-12-31 | $195.10M | $10.22M |
| 2018-12-31 | $137.63M | $5.46M |
Investor relations
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-11-04 | Sep 2026 | $3.94 |
| 2026-08-05 | Jun 2026 | $3.72 |
| 2026-05-06 | Mar 2026 | $3.40 |
| 2026-02-11 | Dec 2025 | $2.89 |
| 2025-11-05 | Sep 2025 | $2.37 |
| 2025-08-06 | Jun 2025 | $1.99 |
| 2025-05-07 | Mar 2025 | $1.45 |
| 2025-02-12 | Dec 2024 | $1.28 |
Filings and sources
- Company website
- applovin.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Omnicom Group Inc. (OMC) · Trade Desk, Inc. (TTD) · Spotify Technology S.A. (SPOT) · Match Group, Inc. (MTCH) · Reddit, Inc. (RDDT) · Nebius Group N.V. (NBIS) · Meta Platforms, Inc. (META) · Alphabet Inc. (GOOG)
All Communication Services companies
Understanding these figures
Price-to-earnings ratio · Short interest · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades