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AppLovin Corporation

APP NASDAQ Categories PDF
Technology · Software - Application · United States · Updated May 11, 12:42pm
$461.55
Price
$155.1B
Market Cap
876
Employees
2.37
Beta
Adam Arash Foroughi
CEO
Business Description

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction. Its business clients include various advertisers, publishers, internet platforms, and others. The company was incorporated in 2011 and is headquartered in Palo Alto, California.

Business History
Price Overview
Last updated: May 11, 2026 12:42pm (just now)
$461.55
-7.00 (-1.49%)
Day Range
$447.09 – $466.86
52-Week Range
$320.00 – $745.61
50-Day MA
$445.84
200-Day MA
$528.65
Volume
2,620,313.17
Analyst Price Targets
Low $340.00
Consensus $652.20
High $835.00
(88 analysts)
Share Structure
Outstanding 335,939,522.00
Float 241,433,359.00
Free Float 71.9%
Normal free float — 71.9% of shares trade freely, ~28.1% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
API
Stock Price / EPS (Diluted)
39.30
Stock Price: $461.55
EPS (Diluted): 9.84
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
106.94
Stock Price: $461.55
Total Equity: $2.13B
Shares: 341,970,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
32.29
Market Cap: $155.05B
Total Debt: $3.51B
Cash: $2.49B
EBITDA: $4.35B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$229.3B
Market Cap: $155.05B
Total Debt: $3.51B
Cash: $2.49B
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
87.9%
Gross Profit: $4.82B
Revenue: $5.48B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
75.8%
Operating Income: $4.15B
Revenue: $5.48B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
60.8%
Net Income: $3.33B
Revenue: $5.48B
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
222.0%
Net Income: $3.33B
Total Equity: $2.13B
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
65.2%
Operating Income: $4.15B
Tax Rate: 13.1%
Equity: $2.13B
Total Debt: $3.51B
Cash: $2.49B
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
3.32
Current Assets: $4.43B
Current Liabilities: $1.33B
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
1.65
Short-Term Debt: $0.00
Long-Term Debt: $3.51B
Total Debt: $3.51B
Total Equity: $2.13B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$16.03
Revenue: $5.48B
Shares: 341,970,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$6.24
Total Equity: $2.13B
Shares: 341,970,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$11.53
Operating CF: $3.97B
CapEx: -$28.32M
Shares: 341,970,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $461.55
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $3.33B
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares APP against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $2.8B $2.8B $3.3B $4.7B $5.5B
Cost of Revenue $988.1M $1.3B $1.1B $1.2B $665.1M
Gross Profit $1.8B $1.6B $2.2B $3.5B $4.8B
Operating Expenses $1.7B $1.6B $1.6B $1.7B $663.7M
Operating Income $150.0M -$47.8M $648.2M $1.9B $4.2B
Net Income $35.4M -$192.7M $356.7M $1.6B $3.3B
EBITDA $580.5M $513.8M $1.1B $2.3B $4.4B
EPS $0.10 $-0.52 $1.01 $4.68 $9.84
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $1.5B $1.1B $502.2M $741.4M $2.5B
Total Current Assets $3.2B $1.9B $1.6B $2.3B $4.4B
Total Assets $6.2B $5.8B $5.4B $5.9B $7.3B
Current Liabilities $640.1M $579.0M $944.1M $1.1B $1.3B
Long-Term Debt $3.2B $3.2B $2.9B $3.5B $3.5B
Total Liabilities $4.0B $3.9B $4.1B $4.8B $5.1B
Total Equity $2.1B $1.9B $1.3B $1.1B $2.1B
Retained Earnings -$977.0M -$1.2B -$813.0M $599.2M $1.7B
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $361.9M $412.8M $1.1B $2.1B $4.0B
Capital Expenditure -$1.4M $-662,000 -$4.2M -$4.8M -$28.3M
Free Cash Flow $360.5M $412.1M $1.1B $2.1B $3.9B
Acquisitions (net) -$1.2B -$1.3B -$63.9M -$25.6M $407.3M
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $0 -$338.9M -$1.2B -$981.3M -$2.2B
Net Change in Cash $2.3B -$1.5B -$578.3M $239.3M $1.7B
Analyst Estimates (Annual)
Metric 2027 2028 2029 2030
Revenue $10.7B
$10.1B – $11.5B
 $13.4B
$13.3B – $13.4B
 $12.2B
$11.4B – $13.2B
 $13.6B
$12.6B – $14.7B
EBITDA $4.3B
$4.1B – $4.7B
 $5.4B
$5.4B – $5.4B
 $5.0B
$4.6B – $5.4B
 $5.5B
$5.1B – $6.0B
Net Income $7.1B
$6.9B – $7.7B
 $8.9B
$7.2B – $10.5B
 $11.8B
$10.7B – $13.0B
 $0
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +0.9% +16.5% +43.4% +16.4%
Gross Profit Growth -13.5% +42.5% +59.3% +35.9%
Operating Income Growth -131.9% +1,456.3% +189.0% +121.6%
Net Income Growth -643.8% +285.1% +342.9% +111.0%
EBITDA Growth -11.5% +122.9% +104.6% +85.9%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-08 WEBB MAYNARD G JR G-Gift 20,920.00 $0.00 $0
2026-04-15 WEBB MAYNARD G JR A-Award 37.00 $0.00 $0
2026-04-15 Messing Barbara A-Award 37.00 $0.00 $0
2026-03-13 Vivas Eduardo S-Sale 20,910.00 $458.67 $9.6M
2026-03-16 Vivas Eduardo S-Sale 102.00 $446.88 $45,582
2026-03-16 Vivas Eduardo S-Sale 1,426.00 $447.49 $638,121
2026-03-16 Vivas Eduardo S-Sale 4,439.00 $448.53 $2.0M
2026-03-16 Vivas Eduardo S-Sale 3,487.00 $449.48 $1.6M
2026-03-16 Vivas Eduardo S-Sale 15,539.00 $450.53 $7.0M
2026-03-16 Vivas Eduardo S-Sale 33,406.00 $451.50 $15.1M
2026-03-16 Vivas Eduardo S-Sale 28,807.00 $452.50 $13.0M
2026-03-16 Vivas Eduardo S-Sale 26,877.00 $453.48 $12.2M
2026-03-16 Vivas Eduardo S-Sale 10,678.00 $454.45 $4.9M
2026-03-16 Vivas Eduardo S-Sale 8,133.00 $455.45 $3.7M
2026-03-16 Vivas Eduardo S-Sale 7,747.00 $456.53 $3.5M
2026-03-16 Vivas Eduardo S-Sale 9,388.00 $457.46 $4.3M
2026-03-16 Vivas Eduardo S-Sale 4,264.00 $458.52 $2.0M
2026-03-16 Vivas Eduardo S-Sale 2,596.00 $459.37 $1.2M
2026-03-16 Vivas Eduardo S-Sale 1,246.00 $460.29 $573,521
2026-03-16 Vivas Eduardo S-Sale 1,493.00 $461.53 $689,064
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27