AppLovin runs an advertising platform that app developers, especially of mobile games, use to win users and sell ads in their apps. The platform relies heavily on its own AI software for ad selection. The former business with its own games was sold. As of Oct 11, 2026
According to the company, AppLovin provides advertising solutions based on artificial intelligence that companies use to reach users and monetize their apps. Its core is Axon Ads Manager, which uses the Axon AI suggestion engine to match advertisers with publishers’ ad inventory by auction and from which revenue essentially comes. Advertisers pay according to their campaign goals instead of a fixed price per impression. Through the MAX auction platform, developers sell the ad inventory in their apps in real time. In addition, there is the Adjust measurement platform for marketing analytics and Wurl for connected TV with distribution of streaming video. In June 2025 the company divested its own apps business.
Automatically summarized from SEC annual report (10-K, filed Feb 19, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 14, 2026
Our own calculation from the exchange’s daily candles, as of Oct 26, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
Growth, margin and debt compared with the sector – in detail in the fundamental analysis further down. The chart shows the candles without a buy zone.
Growth: greenMargin: greenDebt: yellow
AppLovin · Sector Communication Services · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 19, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
87.9% Fiscal year 2025
Rank 97 of 100: higher than 97% of 153 peers (All). strong.
Rank 79 of 100: higher than 79% of 7 peers (Sector). strong.
Median Communication Services: 59.7%
Share of revenue left after the direct cost of the products sold.
75.8% Fiscal year 2025
Rank 99 of 100: higher than 99% of 192 peers (All). strong.
Rank 96 of 100: higher than 96% of 13 peers (Sector). strong.
Median Communication Services: 20.7%
Operating income divided by revenue: what the core business earns before interest and taxes.
60.8% Fiscal year 2025
Rank 98 of 100: higher than 98% of 237 peers (All). strong.
Rank 96 of 100: higher than 96% of 13 peers (Sector). strong.
Median Communication Services: 17.5%
Profit after all costs, interest and taxes divided by revenue.
156.2% Fiscal year 2025
Rank 99 of 100: higher than 99% of 218 peers (All). strong.
Rank 96 of 100: higher than 96% of 12 peers (Sector). strong.
Median Communication Services: 19.6%
Net income divided by equity at fiscal year end.
45.9% Fiscal year 2025 (total assets at year end)
Rank 99 of 100: higher than 99% of 238 peers (All). strong.
Rank 96 of 100: higher than 96% of 13 peers (Sector). strong.
Median Communication Services: 7.3%
Net income divided by total assets at fiscal year end.
29.4% Fiscal year 2025
Rank 41 of 100: higher than 41% of 239 peers (All). medium.
Rank 27 of 100: higher than 27% of 13 peers (Sector). weak.
Median Communication Services: 35.5%
Equity as a share of total assets. Usually low for banks.
+24.8% per year
Rank 81 of 100: higher than 81% of 230 peers (All). strong.
Rank 88 of 100: higher than 88% of 13 peers (Sector). strong.
Median Communication Services: +8.8%
Average growth per year over 3 fiscal years.
+30.4% per year
Rank 83 of 100: higher than 83% of 217 peers (All). strong.
Rank 88 of 100: higher than 88% of 12 peers (Sector). strong.
Median Communication Services: +14.9%
Average growth per year over 5 fiscal years.
9 of 9 Fiscal year 2025
Rank 99 of 100: higher than 99% of 134 peers (All). strong.
Rank 90 of 100: higher than 90% of 5 peers (Sector). strong.
Median Communication Services: 8.0 of 9
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
1.65 at fiscal year end
Rank 17 of 100: lower than 17% of 199 peers (All). weak.
Rank 5 of 100: lower than 5% of 11 peers (Sector). weak.
Median Communication Services: 0.96
Long-term financial debt divided by equity.
3.32 at fiscal year end
Rank 84 of 100: higher than 84% of 215 peers (All). strong.
Rank 81 of 100: higher than 81% of 13 peers (Sector). strong.
Median Communication Services: 1.19
Current assets divided by current liabilities.
+59.1% in 5 years
Rank 13 of 100: lower than 13% of 199 peers (All). weak.
Rank 15 of 100: lower than 15% of 10 peers (Sector). weak.
Median Communication Services: +0.1%
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 5.5B USD · Net income 3.3B USD · Net margin 60.8%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 87.9 USD gross profit, 75.8 USD operating income and 60.8 USD net income remained.
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 5.5B USD | 100.0% |
| Gross profit | 4.8B USD | 87.9% |
| Cost of revenue | 665.1M USD | 12.1% |
| Operating income | 4.2B USD | 75.8% |
| Research & development | 226.5M USD | 4.1% |
| Other operating expenses | 437.2M USD | 8.0% |
| Net income | 3.3B USD | 60.8% |
| Interest expense | 200.6M USD | 3.7% |
| Taxes | 519.7M USD | 9.5% |
| Other | 97.8M USD | 1.8% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin rose in 5 years from −4.3% to 75.8%.
Gross marginOperating marginNet marginReturn on equity rose in 4 years from 1.7% to 156.2%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from −7.4% to 29.4%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases.The current ratio rose in 5 years from 1.11 to 3.32.
Current ratioFree cash flow rose in 5 years from 195.1M USD to 2.1B USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 5 years by 59.1% – more new shares were issued than repurchased (dilution).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Over 5 years, 4.7B USD went back to shareholders, 100% of it through share repurchases.
Dividends paidShare repurchasesNew shares issued (including employee plans)Free cash flow in USDDividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
AppLovin next to 8 stocks of the sector Communication Services we cover that are closest in revenue. Click a column header to sort the table.
| Symbol | Revenue (FY) | Growth 5 yrs | Gross margin | Op. margin | Net margin | ROE | Equity ratio | FCF margin | Piotroski |
|---|---|---|---|---|---|---|---|---|---|
| T AT&T | 125.6B USD | −6.1% | – | 19.2% | 17.5% | 17.4% | 30.1% | 15.5% | – |
| CMCSA Comcast | 123.7B USD | +3.6% | – | 16.7% | 16.2% | 20.6% | 35.5% | 17.7% | – |
| DIS Walt Disney Company (The) | 94.4B USD | +7.6% | – | 18.6% | 13.1% | 11.3% | 55.6% | 10.7% | – |
| TMUS T-Mobile US | 88.3B USD | +5.2% | – | 20.7% | 12.4% | 18.6% | 27.0% | 20.4% | – |
| NFLX Netflix | 45.2B USD | +12.6% | 48.5% | 29.5% | 24.3% | 41.3% | 47.9% | 20.9% | 7/9 |
| SNAP Snap | 5.9B USD | +18.8% | 55.0% | −9.0% | −7.8% | −20.2% | 29.7% | 7.4% | – |
| APP AppLovin this stock | 5.5B USD | +30.4% | 87.9% | 75.8% | 60.8% | 156.2% | 29.4% | – | 9/9 |
| AMC AMC Entertainment | 4.8B USD | +31.3% | – | −0.4% | −13.0% | – | −23.6% | −7.5% | – |
| RDDT Reddit | 2.2B USD | – | 91.2% | 20.1% | 24.1% | 18.1% | 90.4% | 31.1% | – |
| Median of the sector 12 symbols | 91.4B USD | +12.6% | 70.8% | 20.4% | 16.8% | 18.6% | 32.8% | 17.7% | – |
Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).
Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.
Each light follows a simple, disclosed rule. The comparison is with the sector median Sector medianThe middle value of all companies in a sector: half are above it, half below. Unlike the average, single outliers hardly distort it.Example: Margins 4%, 8%, 10%, 12%, 60% → median 10%, average 18.8%.More in the Academy: Lesson putting the P/E in context of all 24 symbols in the Communication Services sector on our list (current members of the S&P 500 and other lists).
+30.4% per year, last 5 years
Sector Communication Services: median +6.7% (22 symbols)
What does this mean? Revenue: over 5 years it grew by 30.4% per year on average – at least as fast as the median company in the sector (+6.7%).
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
Sector Communication Services: median +12.7% (12 symbols)
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
60.8% last fiscal year
Sector Communication Services: median 10.1% (24 symbols)
What does this mean? Of every 100 USD in revenue, 60.83 USD remained as profit – at least as much as the median company in the sector (10.1%). Five years ago the margin was −8.6%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
1.11 latest balance sheet
Sector Communication Services: median 0.84 (22 symbols)
What does this mean? For every 1 USD of equity there is 1.11 USD of financial debt – more than the median company in the sector (0.84). More debt amplifies good and bad years alike.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
Sector Communication Services: median 24% (7 symbols)
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
5 of 7 fiscal years with a profit
What does this mean? In 5 of the last 7 fiscal years the bottom line showed a profit. 2 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 5.5B | 3.3B | 60.8% | 9.75 | – | – |
| 2024 | Dec 31, 2024 | 4.7B | 1.6B | 33.5% | 4.53 | – | – |
| 2023 | Dec 31, 2023 | 3.3B | 356.7M | 10.9% | 0.98 | – | – |
| 2022 | Dec 31, 2022 | 2.8B | −192.7M | −6.8% | −0.52 | – | – |
| 2021 | Dec 31, 2021 | 2.8B | 35.4M | 1.3% | 0.09 | – | – |
| 2020 | Dec 31, 2020 | 1.5B | −125.2M | −8.6% | −0.58 | – | – |
| 2019 | Dec 31, 2019 | 994.1M | 119.0M | 12.0% | 0.36 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 1.9B | 1.3B | 65.8% | 3.76 | – | – |
| Q1/26 | Mar 31, 2026 | 1.8B | 1.2B | 65.4% | 3.56 | – | – |
| Q4/25* | Dec 31, 2025 | – | 1.1B | – | – | – | – |
| Q3/25 | Sep 30, 2025 | 1.4B | 835.5M | 59.5% | 2.45 | – | – |
| Q2/25 | Jun 30, 2025 | 1.3B | 819.5M | 65.1% | 2.39 | – | – |
| Q1/25 | Mar 31, 2025 | 1.5B | 576.4M | 38.8% | 1.67 | – | – |
| Q4/24* | Dec 31, 2024 | – | 599.2M | – | – | – | – |
| Q3/24 | Sep 30, 2024 | 1.2B | 434.4M | 36.3% | 1.25 | – | – |
| Q2/24 | Jun 30, 2024 | 1.1B | 310.0M | 28.7% | 0.89 | – | – |
| Q1/24 | Mar 31, 2024 | 1.1B | 236.2M | 22.3% | 0.67 | – | – |
| Q4/23* | Dec 31, 2023 | – | 172.2M | – | – | – | – |
| Q3/23 | Sep 30, 2023 | 864.3M | 108.6M | 12.6% | 0.30 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $00 people | $0 |
| 6 months | $00 people | $197.3M6 people | −$197.3M |
| 12 months | $00 people | $574.1M9 people | −$574.1M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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