AppLovin (APP) stock
Communication Services · Advertising
AppLovin (APP) is an Advertising company in the Communication Services sector, headquartered in Palo Alto, California. As of October 23, 2026, APP closed at $260.25, a market capitalization of $87.43 billion, the 142nd largest company in the S&P 500. Over the last twelve months it generated $6.83 billion in revenue (+53% year over year) and $4.50 billion in free cash flow. The stock trades at 20.0x trailing earnings and 12.7x forward earnings.
- 1-year total return: -55.9% (dividends reinvested)
- 5-year return: +22.5% a year
- 52-week range: $258.32 – $738.01
- Gross margin 88.5%, operating margin 77.7%
- FI Handbook report card: B+ across 10 metrics
- 9th largest of 22 Communication Services stocks in the S&P 500
APP price chart
1Y price change: -55.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| APP | -17.4% | -61.4% | -55.9% | +90.5% | +22.5% | — | +28.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2021.
APP key statistics
- Market cap
- $87.4B
- #142 in S&P 500
- P/E (TTM)
- 20.0x
- Forward P/E
- 12.7x
- EPS (TTM)
- $13.01
- Revenue (TTM)
- $6.8B
- +53%
- Free cash flow
- $4.5B
- Gross margin
- 88.5%
- Operating margin
- 77.7%
- Return on equity
- 203.7%
- Dividend yield
- None
- 52-week range
- $258.32 – $738.01
- Beta
- 2.56
- Price / sales
- 12.8x
- EV / EBITDA
- 16.2x
- Debt / equity
- 1.11x
- Employees
- 876
APP report card
B+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth52.8%A
- Gross margin88.5%A
- Operating margin77.7%A
- FCF margin65.9%A
- Return on equity203.7%A
- Net debt / EBITDA0.1xB
- Forward P/E12.7xA
- PEG ratio0.6xA
- Shareholder yield2.5%C
- Share count change / yr9.7%F
Applovin financials
Revenue went from $994.1M in fiscal 2019 to $5.5B in fiscal 2025, growing 32.9% a year.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $994.1M | $1.5B | $2.8B | $2.8B | $1.8B | $3.2B | $5.5B |
| Gross profit | $752.8M | $895.5M | $1.8B | $1.6B | $1.5B | $2.7B | $4.8B |
| Operating income | $194.4M | -$62.0M | $150.0M | -$47.8M | $772.4M | $1.9B | $4.2B |
| Net income | $119.0M | -$125.2M | $35.4M | -$192.7M | $356.7M | $1.6B | $3.3B |
| EPS (diluted) | $0.36 | $-0.58 | $0.09 | $-0.52 | $0.98 | $4.53 | $9.75 |
| Free cash flow | $195.1M | $219.6M | $360.5M | $412.1M | $1.1B | $2.1B | — |
| Buybacks | $11.0K | $1.8M | $0 | $338.9M | $1.2B | $981.3M | $2.2B |
| Diluted shares | 212.4M | 214.9M | 342.8M | 371.6M | 362.6M | 347.8M | 342.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into APP?
A reverse DCF asks what growth the current price requires. With an enterprise value of $87.9B and $4.5B of trailing free cash flow, Applovin needs to grow free cash flow about 10.0% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 60.8% a year over the last five years.
P/E ratio history
Current 26.7x vs. median 105.6x (10th–90th percentile 42.8x–380.5x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
APP analyst price targets
31 analysts' average 12-month target is $476.85 (+83% vs. $260.25). Targets range from $325.00 to $790.00. 82% rate it a buy.
APP earnings
Next report: November 4, 2026. Applovin has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $1.9B (+53% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $3.74 | $3.76 | +0.4% |
| May 6, 2026 | $3.64 | $3.76 | +3.5% |
| Feb 11, 2026 | $3.11 | $3.48 | +11.9% |
| Nov 5, 2025 | $2.53 | $2.55 | +0.6% |
| Aug 6, 2025 | $2.32 | $2.36 | +1.7% |
| May 7, 2025 | $1.96 | $2.38 | +21.8% |
| Feb 12, 2025 | $1.83 | $2.07 | +13.3% |
| Nov 6, 2024 | $1.23 | $1.47 | +19.6% |
Stocks like APP
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
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 GOOG Alphabet | -1.08% | +25% | $3.9T | 15.9x | Compare |
 META Meta Platforms | -0.96% | -12% | $1.6T | 21.9x | Compare |
 NFLX Netflix | -1.79% | -41% | $274.2B | 19.0x | Compare |
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 TMUS T-Mobile US | -7.71% | -32% | $157.2B | 15.3x | Compare |
APP news
- AppLovin vs. Pinterest: Which Stock Is a Better Buy in 2026? · Oct 21, 2026
- AppLovin Just Dropped 12% in a Month. Is It Time to Sell, or Load Up? · Oct 21, 2026
- 3 Top Growth Stocks With Revenue Growth Up To 58% · Oct 20, 2026
- What to Expect From AppLovin’s Q3 2026 Earnings Report · Oct 20, 2026
- Why AppLovin’s Discount May Be Unwarranted Ahead of Q3 · Oct 20, 2026
APP stock FAQ
What is APP's market cap?
AppLovin's market capitalization is $87.43 billion as of October 23, 2026, ranking 142nd in the S&P 500.
What is APP's P/E ratio?
APP trades at a trailing price-to-earnings ratio of 20.0x and a forward P/E of 12.7x. Its median P/E over the period we track is 105.6x.
Does APP pay a dividend?
No. AppLovin does not currently pay a regular cash dividend.
How much has APP stock returned?
Including reinvested dividends, APP returned -55.9% over one year, +22.5% a year over five years through October 23, 2026.
Is APP stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies AppLovin must grow free cash flow about 10% a year for the next decade. Its free cash flow grew 61% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the APP price target?
31 analysts cover APP with an average 12-month price target of $476.85, +83% from the current price. 82% of them rate it a buy.
When does APP report earnings?
AppLovin is expected to report earnings on November 4, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does AppLovin have?
AppLovin has about 876 full-time employees, or $7.8 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology