Applovin (APP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Applovin

NasdaqGS•Communication Services•Advertising Agencies

$308.06-13.54(-0.04%)After hours

Market Cap

$107.99B

P/E

24.5x

P/S

16.6x

P/B

34.1x

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.

How this company scores

ExcellentMetricSide Score: 88/100

Strongest: Growth (25/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability22/25

Growth25/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 24.5x5y range 24.5x – 861.3x

Currently below its 14-quarter median.

P/S · 16.6x5y range 1.4x – 43.7x

Currently above its 19-quarter median.

P/B · 34.1x5y range 2.1x – 163.6x

Currently above its 20-quarter median.

Price & Volume

Market Cap $107.99B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $6.50B
Q. Revenue: $1.92B
TTM EBITDA: $5.60B
TTM Op. Income: $5.46B
Q. Op. Income: $1.49B
TTM Net Income: $4.41B
Q. Net Income: $1.27B
EPS: $3.77
Shares Out.: $335.80M

$6.50B in TTM revenue grew 22.4% YoY, reaching $1.92B last quarter. TTM EBITDA of $5.60B and TTM operating income of $5.46B show growth is flowing through to the bottom line. TTM net income of $4.41B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 88.3%
EBITDA Margin: 79.4%
Op. Margin: 77.7%
Net Margin: 65.8%

Op. margin of 77.7% is up 1.6% YoY — cost efficiency is improving. Net margin at 65.8% and gross margin of 88.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 24.5x
P/S Ratio: 16.6x
P/B Ratio: 34.1x

At 24.5x P/E, the stock trades within typical market levels. P/S of 16.6x and P/B of 34.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.27B
Cash: $3.05B
Long-Term Debt: $3.52B
Book Value: $3.16B
D/E Ratio: 1.1
Debt/EBITDA: 2.3

With $8.27B in assets and $3.52B in long-term debt, D/E is 1.1and book value is $3.16B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $869.04M
TTM Free Cash Flow: $4.53B
FCF Margin: 69.6%
FCF / Net Income: 1.0

TTM FCF of $4.53B on $869.04M in operating cash flow. The FCF / Net Income ratio of 1.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.