AppLovin Corp (APP)
Communication Services · Advertising · US stock · S&P 500 component
$266.13
▼ -13.16 (4.71%)
Fair valueOvervalued
$124 −53.6% to fair value
$62fair band $74–$173$185
Day's range
$264.31 – $280.81
52-week range
$260.59 – $738.01
About AppLovin Corp
AppLovin provides a software platform that helps mobile app developers and advertisers acquire users and earn money from their apps. Its advertising technology uses machine learning to match ads with audiences, and the company has also owned mobile games and app publishing operations. Revenue comes mainly from fees and advertising spend processed through its platform, which ties its results to the digital advertising market.
The company reported revenue of $6.8 billion for the last twelve months at AppLovin Corp. Revenue growth over the past three years averaged 24.8% a year. It kept an operating margin of 77.4%. The return on invested capital reached 123%, a measure of profit earned on the money invested in the business. Leverage, measured as net debt to EBITDA, is 0.1 times. The company does not pay a dividend. On the site's X-Ray Score, it rates 73 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $260.59 – $738.01Volume 3,509,100Daily, split-adjusted
Vitals
Market cap$89.7B
52-week range$260.59 – $738.01
Volume (last day)3,509,100
P/E (TTM)20.5
EBIT / EV yield5.9%
Free-cash-flow yield–
Dividend yieldNo dividend
Revenue (TTM)$6.8B
Net income (TTM)$4.4B
Operating margin77.4%
Return on capital123.5%
Debt incl. leases$3.5B
Cash & securities$3.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$124model spread $124 – $124
Overvalued
−53.6% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.36x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Price $266
Undervalued < $74Fair $74 – $173Overvalued > $173
10-year DCF (market-scaled) · excluded
$762
Peer multiples
$98
Earnings power floor (not blended)
$65
Fundamentals-adjusted multiple
$149
Growth the price implies
9.4%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Healthy business, but priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Communication Services peers. Open a lens to see the numbers behind it.
Valuation
Weak
37/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield5.9%
Fair value vs price0.5×
Growth
Strong
78/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)24.8%
Growth consistency80%
Profitability
Fair
66/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital123.5%
Operating margin77.4%
Gross profitability73.1%
Financial health
Strong
85/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score9 / 9
Net debt / EBITDA0.1×
Interest cover26.6×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+9.5%
Mar '25
+77.0%
Jun '25
+68.2%
Sep '25
+65.9%
Dec '25
+59.0%
Mar '26
+52.8%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.9B, diluted EPS $3.76.
Fundamentals checklist
● 8 Good · ● 3 Average · ● 2 BadCash quality
Earnings backed by cashBad
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
Revenue growth (3y)Good
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 65/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $2.8B | $2.8B | $1.8B | $3.2B | $5.5B |
| Operating income | $150M | −$48M | $772M | $1.9B | $4.2B |
| Net income | $35M | −$193M | $357M | $1.6B | $3.3B |
| Operating cash flow | $362M | $413M | $1.1B | $2.1B | $4.0B |
| Operating margin | 5.4% | -1.7% | 41.9% | 59.3% | 75.8% |
| Free cash flow | $360M | $412M | $1.1B | $2.1B | – |
| Diluted EPS | $0.09 | $-0.52 | $0.98 | $4.53 | $9.75 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
2 bullish · 2 neutral · 12 bearish
Weekly
Strongly bearish
1 bullish · 1 neutral · 10 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 275.0 | Bearish |
| EMA 10 | 276.0 | Bearish |
| SMA 20 | 290.1 | Bearish |
| EMA 20 | 286.4 | Bearish |
| SMA 50 | 305.7 | Bearish |
| EMA 50 | 318.3 | Bearish |
| SMA 100 | 394.3 | Bearish |
| EMA 100 | 364.1 | Bearish |
| SMA 200 | 434.7 | Bearish |
| EMA 200 | 408.9 | Bearish |
Oscillators (daily)
| RSI (14) | 36.86 | Neutral |
| MACD (12, 26) | -14.27 | Bearish |
| Momentum (12) | -8.37 | Bearish |
| Stochastic %K (14) | 10.49 | Bullish |
| Williams %R (14) | -89.51 | Bullish |
| CCI (20) | -73.11 | Neutral |
Pivot points (classic, last session)
S3 243.5 | S2 253.9 | S1 260.0 | Pivot 270.4 | R1 276.5 | R2 286.9 | R3 293.0 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
APP SEC filings
5 Aug 2026
10-QSEC EDGAR
Quarterly report
5 Aug 2026
8-KSEC EDGAR
Results of operations
5 Jun 2026
8-KSEC EDGAR
Shareholder vote results
6 May 2026
10-QSEC EDGAR
Quarterly report
6 May 2026
8-KSEC EDGAR
Results of operations
21 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
7 Apr 2026
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
19 Feb 2026
10-KSEC EDGAR
Annual report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.