APP
AppLovin Corp
Technology • CIK 0001751008
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Market Cap
$125.83B
P/E (TTM)
31.8x
Rev Growth (TTM)
+66.4%
Net Margin (TTM)
63.5%
FCF Yield (TTM)
3.5%
FCF Margin (TTM)
71.9%
Filings your agent reads
Primary-source SEC disclosures, read end-to-end — every figure traceable to its filing.
8-KJun 20263 weeks agosource
10-QQ1 20262026-05-06source
8-KEarnings2026-05-06source
8-KApr 20262026-04-07source
10-KFY 20252026-02-19source
Point your agent at APP and it navigates these the same way — citing each number back to the filing.
Cash Flow Health
Free Cash Flow8/8 positive
TTM$4.4B
Q1 '26
$1.3B-2%
Q4 '25
$1.3B+25%
FCF Margin
TTM71.9%
Q1 '2670.1%-12%
Sector: 8.6%Top 10%
OCF Margin71.9%
OCF/NI1.12x
CapEx Coverage–
FCF Yield3.5%
FCF Growth (2Y)+82%
Cash Conversion Cycle
-213 days
DSO: 100+DIO: 0−DPO: 313
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM1.7%
Div Yield0.0%
+Buyback (TTM)1.7%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$4.4B
Stock Repurchases (TTM)$2.2B
Capital Return / FCF49.0%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
79.5%
Volatile
+0.3% YoY+49.0%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
65.8%
8Q: 65.9%
Asset Turnover
0.94x
8Q: 0.83x
Leverage (1+D/E)
2.49x
D/E: 1.49x
DuPont: 153.5% ≈ 79.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
47.32x
8Q:31.68x
+4567.6%
Invested Cap Turn
1.36x
8Q:1.26x
+73.3%
Depreciation Rate Trend
⚠ Declining -314.2%
Asset-based ROIC formula
Valuation Analysis
Fair Value
Price-to-EarningsTTM
31.8x
Volatile
8Q: 150.3x+7793%
Valuation Lenses
Earnings
31.8x
vs – sector
Cash Flow
28.8x
EV/FCF vs –
Growth-Adj
0.3xPEG
Undervalued for growth
Quality-Adj
0.4P/E per %ROIC
ROIC: 79.5%
Shareholder Returns
Dividend
–
Buyback
1.7%
Total Yield
1.7%
Market Cap$125.83B
EV$127.62B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
73/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
2.5%
8Q:–
Return on Invested Capital (ROIC)Top 25%
79.5%
8Q:–
+49.0%
vs Sector:0.0%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 65.8%
Asset Turnover: 0.94x
Earnings Quality
Cash Conversion
1.12x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin88.4%
Capital Efficiency
Invested Capital Turnover1.36x
Working Capital
Cash Conversion Cycle-213 days
Growth Quality & Momentum
Quality Growth
Growth Quality Score
80/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
66.4%
OpInc Growth YoY
71.4%
EPS Growth YoY
110.4%
FCF 3Y CAGR
82.2%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 8.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
88.4%
Operating
77.1%
Top 25% in sector
Net
63.5%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+8.4 pts
FCF: 71.9% | Net: 63.5%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $755.35M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.49x
Balance sheet risk & solvency analysis