AppLovinAPPRevenue: is the business selling more than it used to?
$5.5B+70% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $5.5B in 2025, compounding +25% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $6.8B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPNet income: how much of that revenue becomes profit?
$3.3B+111% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $3.3B in 2025, against $1.6B the year before. Earnings per share moved +82% over the last twelve months. Trailing twelve-month profit stands at $4.4B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPHow fast is it growing, year by year?
+70.0%revenue growth, FY 2025
Off the axis: 2020 earnings -205.2% · 2022 earnings -651.4% · 2024 earnings +342.6% - rebounds off a collapsed prior year.
→Revenue grew +70% in 2025 against a five-year average of +41%. Earnings grew faster (+111%), so each new dollar of sales is arriving more profitably. 2020's swing into loss (-205%) and 2022's swing into loss (-651%) and 2024's +343% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPRevenue per share: is your slice growing as fast as the company?
$16.03revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $16.03 in 2025, compounding +28% a year against +25% for APP as a whole. Buybacks added roughly 3.5 points to your per-share result. Free cash flow per share stands at $11.61.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPFree cash flow: what is left in real cash after everything?
$4.0B+90% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $4.0B in 2025, compounding +113% a year since 2022. That is the most cash the business has ever thrown off in a year. The trailing twelve months stand at $4.5B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→72 cents of every sales dollar became free cash in 2025, up 58 points since 2022 - the best conversion in its filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is research and development, at 4% of revenue (stock compensation 4%, capital spending 0%). That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in only 2 of the last 4 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 77 points to 76% since 2022. After everything, 61 cents of each sales dollar reaches net profit. APP doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 139% sits well above ROCE of 70%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPWhat has the market paid for APP over time?
24.9xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 24.9x earnings, the market is paying 45% less than APP's own 4-year median of 45.4x. Pessimism is priced in - the question is whether it is deserved. Today's multiple is the lowest in the charted history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPWhat cash return does the business throw off per dollar of market value?
4.2%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 4.2% of annual free cash flow, more than its 5-year median of 3.0% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPCould it handle its debt if things went wrong?
→Debt of $3.5B sits against $3.1B of cash, or 1.1x shareholders' equity. Earnings cover the interest bill 27 times over, so the debt is comfortably serviced.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPIs the company's own capital growing?
→The company's own capital grew from $1.3B in 2023 to $3.2B (+152%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPHow much goes back, and how much leaks out as stock comp?
→Shareholders received $2.2B in buybacks in 2025. Stock compensation issued $210M of new shares in the same year, offsetting 10% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPHow fast is your ownership being diluted - or concentrated?
→The share count shrank 1.7% in 2025, averaging 2.7% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPDoes APP earn more on its capital than that capital costs?
→APP earns 70.1% on the capital it employs, well above the 10% most investors treat as the cost of capital. That is the highest in APP's filed history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPAPP has issued or retired shares - did shareholders end up better off?
→APP issued +61% more shares from 2019 to 2025, but revenue per share still rose +242%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
AppLovinAPPAre the people running it buying or selling?
→Insiders sold $329M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 12 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30