AppLovin Corporation
Rank #55HypergrowthAPP · Nasdaq · Communication Services
AppLovin Corporation (APP) — Rank #55 by gross profitability (GP/assets 0.58) · ROE 105.4% · Piotroski F-Score 9 / 9.
As-of 2026-09-15 · CIK 0001751008 · all metrics point-in-time as of the filing date.
About
AppLovin Corporation provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally.
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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.
- Industry
- Advertising Agencies
- Sector
- Communication Services
- State
- DE
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- applovin.com
Price History
Company Snapshot
P/S is the primary valuation lens — earnings are reinvested, not available for P/E.
Market Cap
$109.88B
P/E (annual)
33.7
P/S (annual)
20.0
P/B
34.7
P/OCF (annual)
27.7
Shareholder Yield
1.7%
Employees
876
Industry
Advertising Agencies
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
1/1 passGrowth
2/2 passTerry Smith quality gate
Passes 3/5 Terry Smith thresholds2 of 5 thresholds not computable from filed data.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Disclosure regression check
A previously-disclosed line item is no longer reported. Worth checking the filing for why.
Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.58
Primary signal (Novy-Marx).
3rd of 14 SIC 7370 peers
Return on equity
105.4%
Gross margin
87.9%
1st of 14 SIC 7370 peers
Revenue growth (YoY)
70.0%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
24.8%
Revenue CAGR (5Y)
30.4%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.61
13th of 13 SIC 7370 peers (best = lowest)
Current ratio
4.30×
3rd of 14 SIC 7370 peers
Quick ratio
4.17×
Net cash
-$661.77M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
—
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
—
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
3.8%
Stock-based comp intensity.
Piotroski F-Score
F-Score
9 / 9
Fundamental-strength score (0-9).