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AppLovin Corp APP

Nasdaq · stock · Services-Computer Programming, Data Processing, Etc. · website · IPO 2021-04-15 · LEI

AppLovin Corp statistics & valuation

Market cap$160.3B
P / E48.1×
P / S29.2×
P / B75.1×
Net margin60.8%
Return on equity156.2%
Net debt$1.0B
Net debt / EBITDA0.2×
Enterprise value USD$161.3B
EV / EBITDA37.1×
Earnings yield EBIT/EV2.6%
Return on capital70.1%
Graham number -87.8%$37.01

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($37.01); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-8.60% 1.30% -6.80% 19.40% 49.00% 60.80% 202020212022202320242025
Gross margin (%)
202020212022202320242025
Operating margin (%)
-4.30% 5.40% -1.70% 41.90% 59.30% 75.80% 202020212022202320242025
Return on equity (%)
1.70% -10.10% 28.40% 145.00% 156.20% 202020212022202320242025
Shares outstanding
226.4M 375.1M 373.9M 362.6M 347.8M 342.0M 202020212022202320242025
Net debt ($)
$1.27B $1.71B $2.13B $2.62B $2.81B $1.03B 202020212022202320242025
Share buybacks ($)
202020212022202320242025
Return on assets (%)
-5.80% 0.60% -3.30% 6.70% 26.90% 45.90% 202020212022202320242025
Free cash flow margin (%)
15.10% 12.90% 14.60% 57.40% 65.00% 202020212022202320242025
Debt / equity (×)
1.51× 1.69× 2.48× 3.22× 1.65× 202020212022202320242025
EPS ($)
-$0.58 $0.09 -$0.52 $0.98 $4.53 $9.75 202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AppLovin Corp trades at about 31.2× earnings — below its 10-year norm (10-year range 42×–715.8×, median 81.6×).

31.2× 715.8×

Shaded band = 10-year range (42×–715.8×); dot = today's 31.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020
Operating margin75.8%59.3%41.9%-1.7%5.4%-4.3%
Net margin60.8%49.0%19.4%-6.8%1.3%-8.6%
FCF margin—65.0%57.4%14.6%12.9%15.1%
Return on assets45.9%26.9%6.7%-3.3%0.6%-5.8%
Return on equity156.2%145.0%28.4%-10.1%1.7%79.0%
Debt / equity1.65×3.22×2.48×1.69×1.51×-9.99×
Current ratio3.322.191.713.355.051.11

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.