AppLovin Corporation APP NDXSPXAI
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.
READ MORE ›Market & Price
Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Healthy ROCE of 70.2%.
- Excellent profit margin of 64.3%.
- Compounding revenue at 24.8% over 5 years.
- Profit CAGR of 609.9% over 5 years.
- Generates positive free cash flow.
CONS
- Trading at a high P/E of 53.2.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Communication Services).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | APP AppLovin Corporation NDXSPXAI | 613.09 | 53.17 | $205.96B | - | 70.20% | - | 24.84% | 609.87% |
| 2 | GOOGL Alphabet Inc. NDXSPXAI | 380.34 | 28.99 | $4.61T | 0.23% | 32.40% | 38.88% | 12.51% | 30.14% |
| 3 | META Meta Platforms, Inc. NDXSPXAI | 632.51 | 22.99 | $1.61T | 0.33% | 26.87% | 32.93% | 19.89% | 37.61% |
| 4 | NFLX Netflix, Inc. NDXSPXAI | 86.02 | 27.75 | $362.21B | - | 30.26% | 48.49% | 12.64% | 34.71% |
| 5 | TMUS T-Mobile US, Inc. NDXSPX | 187.53 | 19.93 | $202.95B | 2.18% | 9.27% | 18.02% | 3.53% | 61.90% |
| 6 | VZ Verizon Communications Inc. SPX | 47.81 | 11.66 | $199.63B | 5.92% | 8.59% | 17.20% | 0.33% | -6.86% |
| 7 | DIS The Walt Disney Company SPX | 101.83 | 16.29 | $176.83B | 1.47% | 8.46% | 11.01% | 4.51% | 58.00% |
| 8 | T AT&T Inc. SPX | 24.80 | 8.16 | $172.32B | 4.48% | 9.23% | 18.37% | 1.34% | 119.18% |
| 9 | SPOT Spotify Technology S.A. AI | 497.68 | 33.22 | $102.33B | - | 25.25% | 37.99% | 13.59% | 204.81% |
Quarterly Results
Figures in USD.
| Metric | Mar 2020 | Jun 2020 | Sep 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 260.18M | 299.33M | 381.74M | 603.88M | 668.81M | 726.95M | 625.42M | 776.23M | 713.10M | 715.40M | 750.16M | 864.26M | 1.06B | 711.01M | - | 1.16B | 1.26B | 1.41B | 1.66B | 1.84B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 151.68M | 155.08M | 174.85M | 183.53M | 203.63M |
| Gross Profit | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.01B | 1.10B | 1.23B | 1.47B | 1.64B |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 167.31M | 146.00M | 151.18M | 199.17M | 198.88M |
| Operating Income | 25.14M | -6.76M | -75.46M | 11.46M | 34.98M | 45.05M | -127.99M | 53.35M | 49.27M | 61.05M | 131.33M | 186.32M | 339.56M | 384.42M | - | 839.98M | 957.68M | 1.08B | 1.28B | 1.44B |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 927.38M | 982.47M | 1.11B | 1.34B | 1.52B |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 52.89M | 51.41M | 51.43M | 51.29M | 51.16M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 794.61M | 884.00M | 1.02B | 1.25B | 1.43B |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 71.07M | 112.15M | 185.40M | 151.10M | 225.79M |
| Net Income | 4.66M | -21.39M | -89.69M | -10.52M | 14.42M | 178.00K | -115.26M | -21.75M | 23.77M | -4.52M | 80.36M | 108.64M | 236.18M | 309.97M | - | 576.42M | 819.53M | 835.54M | 1.10B | 1.21B |
| Diluted EPS | 0.01 | -0.10 | -0.42 | -0.05 | 0.04 | 0.00 | -0.31 | -0.06 | 0.06 | -0.01 | 0.22 | 0.30 | 0.67 | 0.89 | - | 1.67 | 2.39 | 2.45 | 3.24 | 3.56 |
| R&D Expense | 19.11M | 29.70M | 51.14M | 60.88M | 77.46M | 108.52M | 126.25M | 141.11M | 122.06M | 144.85M | 137.42M | 159.29M | 155.32M | 99.12M | 80.78M | 56.41M | 44.03M | 43.85M | - | 94.10M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 994.10M | 1.45B | - | 2.82B | 1.84B | 3.22B | 5.48B |
| Cost of Revenue | - | - | - | 1.26B | 356.61M | 520.61M | 665.14M |
| Gross Profit | - | - | - | 1.56B | 1.49B | 2.70B | 4.82B |
| Operating Expenses | - | - | - | 1.61B | 712.74M | 792.49M | 663.66M |
| Operating Income | 194.37M | -62.04M | - | -47.79M | 772.41M | 1.91B | 4.15B |
| EBITDA | - | - | - | 513.77M | 1.26B | 2.38B | 4.35B |
| Interest Expense | - | - | - | 171.86M | 273.51M | 317.21M | 207.02M |
| Pretax Income | - | - | - | -205.18M | 501.60M | 1.61B | 3.95B |
| Tax Provision | - | - | - | -12.23M | 43.78M | 22.42M | 519.72M |
| Net Income | 119.04M | -125.19M | - | -192.75M | 357.21M | 1.58B | 3.33B |
| Diluted EPS | 0.36 | -0.58 | - | -0.52 | 0.98 | 4.53 | 9.75 |
| R&D Expense | 44.97M | 180.65M | 366.40M | 507.61M | 333.78M | 374.71M | 226.51M |
Compounded Sales Growth
| 5 Years: | 24.84% |
| 1 Year: | 59.00% |
Compounded Profit Growth
| 5 Years: | 609.87% |
| 1 Year: | 113.10% |
Stock Price Performance
| 1 Year: | +56.00% |
| 6 Months: | +10.26% |
| 3 Months: | +41.01% |
| 1 Month: | +38.26% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 2.15B | - | 5.85B | 5.36B | 5.87B | 7.26B |
| Current Assets | - | - | - | - | 1.94B | 1.62B | 2.31B | 4.43B |
| Cash & Equivalents | - | - | 317.24M | - | 1.08B | 502.15M | 697.03M | 2.49B |
| Inventory | - | - | - | - | - | - | - | - |
| Receivables | - | - | - | - | 702.81M | 953.81M | 1.28B | 1.82B |
| Total Liabilities | - | - | 2.31B | - | 3.95B | 4.10B | 4.78B | 5.12B |
| Current Liabilities | - | - | 598.05M | - | 578.96M | 944.12M | 1.06B | 1.33B |
| Long Term Debt | - | - | 1.58B | - | 3.18B | 2.91B | 3.51B | 3.51B |
| Total Debt | - | - | - | - | 3.28B | 3.18B | 3.55B | 3.54B |
| Total Equity | -378.36M | -256.57M | -158.54M | - | 1.90B | 1.26B | 1.09B | 2.13B |
| Shares Outstanding | - | - | - | - | 373.87M | 339.89M | 340.04M | 338.31M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 198.46M | 222.88M | - | 412.77M | 1.06B | 2.10B | 3.97B |
| Investing Cash Flow | -411.55M | -679.89M | - | -1.37B | -77.83M | -106.75M | 358.43M |
| Financing Cash Flow | 333.16M | 377.86M | - | -526.85M | -1.56B | -1.75B | -2.59B |
| Capital Expenditure | -3.36M | -3.24M | - | -662.00K | -63.90M | -25.55M | -28.32M |
| Free Cash Flow | 195.10M | 219.64M | - | 412.11M | 997.61M | 2.07B | 3.94B |
| Net Change in Cash | - | - | - | -1.49B | -579.11M | 242.41M | 1.78B |
| Share Buybacks | 11.00K | 1.77M | 0 | 338.88M | 1.15B | 981.30M | 2.19B |
Ratios (Annual)
Figures in %.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | 55.4% | 80.6% | 83.9% | 87.9% |
| Operating Margin % | 19.6% | -4.3% | - | -1.7% | 41.9% | 59.3% | 75.8% |
| Net Margin % | 12.0% | -8.6% | - | -6.8% | 19.4% | 49.0% | 60.8% |
| ROE % | -46.4% | 79.0% | - | -10.1% | 28.4% | 145.0% | 156.2% |
| ROCE % | - | -4.0% | - | -0.9% | 17.5% | 39.7% | 70.1% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 7.73% | 23.64M | $14.49B |
| 2 | Vanguard Capital Management LLC | 5.48% | 16.75M | $10.27B |
| 3 | FMR, LLC | 5.13% | 15.69M | $9.62B |
| 4 | State Street Corporation | 3.85% | 11.77M | $7.21B |
| 5 | Geode Capital Management, LLC | 2.38% | 7.29M | $4.47B |
| 6 | BAILLIE GIFFORD & CO | 2.19% | 6.70M | $4.11B |
| 7 | Vanguard Portfolio Management LLC | 1.94% | 5.94M | $3.64B |
| 8 | Morgan Stanley | 1.83% | 5.60M | $3.44B |
| 9 | Price (T.Rowe) Associates Inc | 1.78% | 5.43M | $3.33B |
| 10 | WCM Investment Management, LLC | 1.64% | 5.00M | $3.07B |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
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