Applovin Corporation (APP) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APP SEC filings page.
Applovin Corporation (APP) reported $6.8B in revenue over the twelve months to Jun 30, 2026, up 76.3% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
AppLovin has shifted from a volatile, low-margin business into a highly cash-generative platform, while debt remains meaningful despite improving equity.
By FY2025, operating cash flow reached$4.0B versus net income of$3.3B , showing that reported earnings were converting into cash rather than depending mainly on noncash accounting gains. That cash conversion is especially notable because the company also returned substantial capital through buybacks, yet equity still expanded.
Revenue nearly tripled between FY2023 and FY2025, while gross margin rose to
Debt-to-equity fell from 3.2x in FY2024 to 1.6x in FY2025 despite substantial buybacks; profits rebuilt equity faster than capital returns reduced it. Long-term debt remained approximately
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Applovin Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Applovin Corporation has an operating margin of 75.8%, meaning the company retains $76 of operating profit per $100 of revenue. This strong profitability earns a score of 82/100, reflecting efficient cost management and pricing power. This is up from 59.3% the prior year.
Applovin Corporation's revenue surged 70.0% year-over-year to $5.5B, reflecting rapid business expansion. This strong growth earns a score of 97/100.
Applovin Corporation carries a low D/E ratio of 1.65, meaning only $1.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.32, Applovin Corporation holds $3.32 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 82/100.
Applovin Corporation earns a strong 156.2% return on equity (ROE), meaning it generates $156 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 79/100. This is up from 145.0% the prior year.
Applovin Corporation scores 13.80, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($88.1B) relative to total liabilities ($5.1B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Applovin Corporation passes 9 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Applovin Corporation generates $1.19 in operating cash flow ($4.0B OCF vs $3.3B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Applovin Corporation earns $20.70 in operating income for every $1 of interest expense ($4.2B vs $200.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Applovin Corporation generated $1.9B in revenue in Q2 2026. This represents an increase of 52.8% from the same quarter a year earlier. Against the prior quarter it is up 4.4%.
Applovin Corporation's EBITDA was $1.5B in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 52.0% from the same quarter a year earlier. Against the prior quarter it is up 3.6%.
Applovin Corporation reported $1.3B in net income in Q2 2026. This represents an increase of 54.5% from the same quarter a year earlier. Against the prior quarter it is up 5.1%.
Applovin Corporation earned $3.76 per diluted share (EPS) in Q2 2026. This represents an increase of 57.3% from the same quarter a year earlier. Against the prior quarter it is up 5.6%.
Cash & Balance Sheet
Applovin Corporation held $3.1B in cash against $3.5B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Applovin Corporation's gross margin was 88.3% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Applovin Corporation's operating margin was 77.7% in Q2 2026, reflecting core business profitability. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.5 percentage points.
Applovin Corporation's net profit margin was 65.8% in Q2 2026, showing the share of revenue converted to profit. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.
Applovin Corporation's ROE was 40.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 30.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 11.0 percentage points.
Capital Allocation
Applovin Corporation invested $99.9M in research and development in Q2 2026. This represents an increase of 126.9% from the same quarter a year earlier. Against the prior quarter it is up 6.2%.
Applovin Corporation spent $551.2M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 103.0% from the same quarter a year earlier. Against the prior quarter it is down 43.9%.
Not reported for Q2 2026.
APP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+52.8% | $1.8B+59.0% | $1.7B+167.5% | $1.4B+68.2% | $1.3B+77.0% | $1.2B+9.5% | $619.7M | $835.2M-3.4% |
| Cost of Revenue | $225.8M+45.6% | $203.6M+34.3% | $183.5M+1232.0% | $174.9M+44.6% | $155.1M+27.4% | $151.7M-48.4% | -$16.2M | $120.9M-54.4% |
| Gross Profit | $1.7B+53.8% | $1.6B+62.7% | $1.5B+131.8% | $1.2B+72.2% | $1.1B+87.3% | $1.0B+31.9% | $636.0M | $714.3M+19.2% |
| R&D Expenses | $99.9M+126.9% | $94.1M+66.8% | $82.2M+108.2% | $43.9M-45.7% | $44.0M-55.6% | $56.4M-63.7% | $39.5M | $80.8M-49.3% |
| SG&A Expenses | $40.3M-26.8% | $44.0M-14.5% | $68.2M+43.3% | $58.8M+62.3% | $55.0M+42.1% | $51.5M+21.5% | $47.6M | $36.2M-12.2% |
| Operating Income | $1.5B+56.0% | $1.4B+71.4% | $1.3B+95.4% | $1.1B+101.9% | $957.7M+149.1% | $840.0M+147.4% | $652.7M | $534.3M+186.8% |
| EBITDA | $1.5B+52.0% | $1.5B+60.2% | $1.3B+67.6% | $1.1B+75.7% | $1.0B+103.8% | $919.9M+103.4% | $780.5M | $633.9M+105.7% |
| Interest Expense | $51.2M-0.5% | $51.2M-3.3% | $44.9M-46.8% | $51.4M-31.4% | $51.4M-30.9% | $52.9M-28.7% | $84.4M | $74.9M-4.6% |
| Income Tax | $239.0M+113.1% | $225.8M+217.7% | $151.1M+348.1% | $185.4M+435.0% | $112.1M+563.8% | $71.1M+123.8% | -$60.9M | $34.7M+5814.0% |
| Net Income | $1.3B+54.5% | $1.2B+109.2% | $1.1B+83.9% | $835.5M+92.3% | $819.5M+164.4% | $576.4M+144.1% | $599.4M | $434.4M+299.9% |
| EPS (Basic) | $3.77+55.8% | $3.57+110.0% | $3.26+84.2% | $2.47+91.5% | $2.42+163.0% | $1.70+142.9% | $1.77+254.0% | $1.29+303.1% |
| EPS (Diluted) | $3.76+57.3% | $3.56+113.2% | $3.24+88.4% | $2.45+96.0% | $2.39+168.5% | $1.67+149.3% | $1.72+258.3% | $1.25+316.7% |
| Diluted Shares (Avg) | 337M-1.5% | 339M-1.8% | N/A | 341M-2.1% | 342M-1.7% | 345M-1.1% | N/A | 348M-2.4% |
APP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $8.3B+38.8% | $7.7B+35.1% | $7.3B+23.7% | $6.3B+16.5% | $6.0B+13.1% | $5.7B+8.4% | $5.9B+9.5% | $5.4B+8.7% |
| Current Assets | $5.4B+80.2% | $4.8B+104.8% | $4.4B+91.6% | $3.5B+86.0% | $3.0B+80.3% | $2.4B+47.2% | $2.3B+43.1% | $1.9B+44.2% |
| Cash & Equivalents | $3.1B+156.0% | $2.8B+400.6% | $2.5B+256.8% | $1.7B+193.7% | $1.2B+159.0% | $551.0M+26.3% | $697.0M+38.8% | $567.6M+70.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $2.2B+37.3% | $2.0B+24.1% | $1.8B+41.8% | $1.6B+35.1% | $1.6B+47.2% | $1.6B+52.4% | $1.3B+34.5% | $1.2B+39.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $1.5B-1.3% | $1.5B-7.1% | $1.5B+5.6% | $1.5B-16.8% | $1.5B-15.5% | $1.6B-10.3% | $1.5B-2.6% | $1.9B+2.1% |
| Total Liabilities | $5.1B+6.5% | $5.3B+4.1% | $5.1B+7.2% | $4.9B+8.1% | $4.8B+7.6% | $5.1B+14.0% | $4.8B+16.5% | $4.5B+15.2% |
| Current Liabilities | $1.3B+14.6% | $1.5B+6.0% | $1.3B+26.1% | $1.1B+37.7% | $1.1B+49.9% | $1.4B+84.8% | $1.1B+12.0% | $779.5M-3.2% |
| Non-Current Liabilities | $3.9B+4.2% | $3.8B+3.4% | $3.8B+1.9% | $3.8B+1.9% | $3.7B-0.7% | $3.7B-0.5% | $3.7B+17.8% | $3.7B+20.0% |
| Long-Term Debt | $3.5B+0.1% | $3.5B+0.1% | $3.5B+0.1% | $3.5B+1.1% | $3.5B+0.8% | $3.5B+0.6% | $3.5B+20.8% | $3.5B+19.3% |
| Total Equity | $3.2B+171.0% | $2.4B+310.7% | $2.1B+95.9% | $1.5B+57.1% | $1.2B+43.2% | $575.4M-24.3% | $1.1B-13.3% | $938.2M-14.4% |
| Retained Earnings | $2.7B+268.0% | $1.9B+1007.7% | $1.7B+189.6% | $1.0B | $723.4M+371.1% | $174.0M+130.2% | $599.2M+173.7% | $0+100.0% |
Not reported in any period shown, so not listed: Inventory.
APP Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $869.0M+12.5% | $1.3B+55.3% | $1.3B+87.4% | $1.1B+91.3% | $772.2M+69.9% | $831.7M+111.8% | $701.0M+103.8% | $550.7M+176.6% |
| Depreciation & Amortization | $32.6M-30.8% | $33.7M-57.9% | $32.7M-74.4% | $35.1M-64.8% | $47.1M-56.6% | $79.9M-29.1% | $127.8M+7.3% | $99.6M-18.2% |
| Stock-Based Compensation | $85.8M+138.6% | $83.4M+36.0% | N/A | $33.8M-56.4% | $35.9M-61.6% | $61.3M-35.7% | N/A | $77.4M-30.2% |
| Investing Cash Flow | -$2.4M-100.6% | -$5.2M+76.8% | -$828K-125.6% | -$19.6M-206.9% | $401.5M+687.4% | -$22.7M+28.4% | -$367K+94.6% | -$6.4M+59.6% |
| Financing Cash Flow | -$570.4M-6.1% | -$1.0B-1.0% | -$493.2M+5.7% | -$560.3M-27.0% | -$537.4M-48.9% | -$1.0B-136.0% | -$523.2M-206.8% | -$441.1M+39.1% |
| Share Buybacks | $551.2M+103.0% | $981.7M-1.9% | $417.6M+66718.4% | $501.9M+119.7% | $271.5M | $1.0B+33.1% | $625K | $228.4M-60.7% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
APP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.3%+0.6pp | 88.9%+2.0pp | 88.9% | 87.6%+2.0pp | 87.7%+4.8pp | 86.9%+14.7pp | 102.6% | 85.5%+16.2pp |
| Operating Margin | 77.7%+1.6pp | 78.1%+5.7pp | 76.9% | 76.8%+12.8pp | 76.1%+22.0pp | 72.5%+40.4pp | 105.3% | 64.0%+42.4pp |
| Net Margin | 65.8%+0.7pp | 65.4%+15.7pp | 66.5%-30.2pp | 59.5%+7.5pp | 65.1%+21.5pp | 49.7%+27.4pp | 96.7% | 52.0%+39.4pp |
| Return on Equity | 40.0%-30.2pp | 51.0%-49.2pp | 51.6%-3.4pp | 56.7%+10.4pp | 70.2%+32.2pp | 100.2%+69.1pp | 55.0% | 46.3%+36.4pp |
| Return on Assets | 15.3%+1.6pp | 15.6%+5.5pp | 15.2%+5.0pp | 13.2%+5.2pp | 13.8%+7.9pp | 10.1%+5.6pp | 10.2% | 8.0%+5.8pp |
| Current Ratio | 4.30+1.6x | 3.24+1.6x | 3.32+1.1x | 3.25+0.8x | 2.74+0.5x | 1.68-0.4x | 2.19+0.5x | 2.41+0.8x |
| Debt-to-Equity | 1.11-1.9x | 1.49-4.6x | 1.65-1.6x | 2.38-1.3x | 3.01-1.3x | 6.10+1.5x | 3.22+0.9x | 3.70+1.0x |
| Asset Turnover | 0.230.0x | 0.240.0x | 0.23+0.1x | 0.22+0.1x | 0.21+0.1x | 0.200.0x | 0.11 | 0.150.0x |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Applovin Corporation APP | FY2025 | $5.5B | $3.3B | 60.8% | $88.1B | 85/100 |
| The Trade Desk, Inc. TTD | FY2025 | $2.9B | $443.3M | 15.3% | $5.8B | 69/100 |
| Omnicom Group Inc. OMC | FY2025 | $17.3B | -$54.5M | -0.3% | $21.5B | 50/100 |
| Magnite, Inc. MGNI | FY2025 | $714.0M | $144.6M | 20.3% | $3.6B | 56/100 |
| The Interpublic Group of Companies, Inc. IPG | FY2024 | $10.7B | $689.5M | 6.5% | $8.9B | 55/100 |
Where Applovin Corporation Ranks
Frequently Asked Questions
What is Applovin Corporation's annual revenue?
Applovin Corporation (APP) reported $5.5B in total revenue for fiscal year 2025. This represents a 70.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Applovin Corporation's revenue growing?
Applovin Corporation (APP) revenue grew by 70.0% year-over-year, from $3.2B to $5.5B in fiscal year 2025.
Is Applovin Corporation profitable?
Yes, Applovin Corporation (APP) reported a net income of $3.3B in fiscal year 2025, with a net profit margin of 60.8%.
What is Applovin Corporation's EBITDA?
Applovin Corporation (APP) had EBITDA of $4.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Applovin Corporation have?
As of fiscal year 2025, Applovin Corporation (APP) had $2.5B in cash and equivalents against $3.5B in long-term debt.
What is Applovin Corporation's gross margin?
Applovin Corporation (APP) had a gross margin of 87.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Applovin Corporation's operating margin?
Applovin Corporation (APP) had an operating margin of 75.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Applovin Corporation's net profit margin?
Applovin Corporation (APP) had a net profit margin of 60.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Applovin Corporation's return on equity (ROE)?
Applovin Corporation (APP) has a return on equity of 156.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Applovin Corporation's operating cash flow?
Applovin Corporation (APP) generated $4.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Applovin Corporation's total assets?
Applovin Corporation (APP) had $7.3B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Applovin Corporation spend on research and development?
Applovin Corporation (APP) invested $226.5M in research and development during fiscal year 2025.
What is Applovin Corporation's current ratio?
Applovin Corporation (APP) had a current ratio of 3.32 as of fiscal year 2025, which is generally considered healthy.
What is Applovin Corporation's debt-to-equity ratio?
Applovin Corporation (APP) had a debt-to-equity ratio of 1.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Applovin Corporation's return on assets (ROA)?
Applovin Corporation (APP) had a return on assets of 45.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Applovin Corporation's P/E ratio?
Applovin Corporation (APP) trades at 20.0x earnings, its market capitalization divided by net income of $4.4B net income, trailing 12 months to June 30, 2026. The market capitalization is $88.1B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Applovin Corporation's price-to-sales ratio?
Applovin Corporation (APP) trades at 12.9x sales, its market capitalization divided by revenue of $6.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $88.1B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Applovin Corporation's Altman Z-Score?
Applovin Corporation (APP) has an Altman Z-Score of 13.80, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Applovin Corporation's Piotroski F-Score?
Applovin Corporation (APP) has a Piotroski F-Score of 9 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Applovin Corporation's earnings high quality?
Applovin Corporation (APP) has an earnings quality ratio of 1.19x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Applovin Corporation cover its interest payments?
Applovin Corporation (APP) has an interest coverage ratio of 20.70x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Applovin Corporation?
Applovin Corporation (APP) scores 85 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.