Applovin Corporation
Services-Computer Programming, Data Processing, Etc.
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two.
It is a $92.7B technology company. Revenue grew 36.9% over the last year, it keeps 65¢ of every dollar of sales as profit, and its net debt equals ~0.2 years of free cash flow. It trades at 21.0× earnings — near the lowest of its own history.
- Website
- applovin.com
- Location
- Palo Alto, CA
- Employees
- 898
- Sector
- Technology
- Founded
- 2012
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability and health; Quality lags behind.
Valuation54
- P/E vs own history0th pct · 25/25
- FCF yield4.9% · 12/25
- P/S13.6x · 5/25
- EV/EBITDA17.4x · 12/25
Growth90
- Revenue CAGR18.4% · 20/25
- Net income CAGR211.4% · 25/25
- EPS CAGR ~5Y211.6% · 25/25
- Fwd implied growth21.6% · 20/25
Profitability100
- ROIC105.5% · 25/25
- ROE193.1% · 25/25
- Net margin64.6% · 25/25
- Operating margin77.4% · 25/25
Health87
- Altman Z13.68 · 25/25
- Current ratio4.30 · 25/25
- Interest coverage20.1x · 25/25
- Net cash / debtD/A 14% · 12/25
Quality37
- Piotroski F9/9 · 25/25
- Beneish M-2.19 · 12/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 30.6% · 0/25
Moat63
- ROIC >12% years3/5 yrs · 13/25
- Median gross margin67.7% · 25/25
- FCF-positive years4/4 yrs · 25/25
- Worst-year net marginworst -6.8% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$3.33B net income
- FY2021FinancialFirst recorded profitable year$35.4M net income
- FY2021FinancialRevenue already above $1B$2.79B in first reported year
- FY2021FinancialPositive free cash flow every year since5-year streak
- Oct 6, 2021AcquisitionAppLovin announced the acquisition of mobile monetization company MoPub from Twitter for $1.1…
- Apr 15, 2021MilestoneAppLovin became a public company, trading on the Nasdaq under the ticker APP
- 2020AcquisitionAppLovin invested in the mobile game studios Geewa
- 2019AcquisitionThe company acquired SafeDK, a software development kit management platform for ad quality, performance
- 2018ProductAppLovin launched Lion Studios, which works with mobile developers to publish and promote their games
- 2018AcquisitionAppLovin acquired the in-app bidding SSP MAX
- 2014AcquisitionIt purchased the German mobile ad-network Moboqo
- 2012FoundedAppLovin was founded in 2012 by Adam Foroughi, John Krystynak, and Andrew Karam
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (88.5%)
- Strongly profitable — 64.6% net margin
- Revenue growing 36.9% year over year
- Strong cash conversion — FCF is 66.3% of revenue
- Interest covered 20.1× by operating earnings
Watch-outs
- Loss-making in 1 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+36.9% YoY
- Profitable — makes more than it spends$4.41B TTM
- Profit growing — earnings are higher than last year+111.0% YoY
- Generates cash — cash left after running and investing$4.53B TTM
- Debt under control — could handle its obligations~0.2y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$92.7B market cap
- Not printing shares — share count not ballooning — you keep your slice-0.2% shares over ~5y
- Proven track record — years of profitability behind it4/5 profitable years
- Financially stable — balance sheet not near distressAltman Z 13.7 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsP/E 21.0
Peer comparisonApplovin Corporation vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| APP this company | $92.7B | 21.0 | +36.9% | 64.6% | Strong |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: APP vs NVDA · APP vs AAPL · APP vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/APP
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of APP on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $277.00 · market cap $92.7B.