AppLovin Corporation (APP) Stock

AppLovin Corporation (APP) is a Technology stock trading at $424.47 (as of 2026-07-17), with a market capitalization of $142.75B and a trailing P/E of 41.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction. Its business clients include various advertisers, publishers, internet platforms, and others. The company was incorporated in 2011 and is headquartered in Palo Alto, California.

Understand AppLovin Corporation: how it makes money

AppLovin builds software platforms for mobile app developers to improve app marketing and monetization, mainly by matching advertiser demand with publisher supply through auctions (AppDiscovery) and optimizing in-app ad inventory value with in-app bidding (MAX).

Its profit engine is scaling ad monetization software through its auction-based marketplace (AppDiscovery) and in-app bidding optimization (MAX), which increases the value of the advertising inventory it serves as more publishers migrate to and use MAX.

Business quality (Exceptional): The model appears to be software-heavy with very high gross and operating margins, and operating momentum appears tied to platform customer and MAX adoption metrics, but performance remains exposed to mobile ad monetization conditions and to execution of publisher and app migrations to MAX.

Valuation: Trades at 43× trailing earnings · $167B market cap.

Bull case

  • Mobile-focused monetization scale: A large share of advertising revenue is from mobile games (90%), and the company tracks broad software platform enterprise customer coverage via “Software Platform Enterprise Customers (Specs)” (366).
  • MAX migration and adoption indicators: Publisher migration to MAX is tracked via “MoPub-to-Max Publisher Migration Rate” (90%), and app rollout is tracked via “Apps Using Max (MoPub Integration Progress)” (60%).
  • Retention signals: Retention metrics are tracked via “Net Dollar-Based Revenue Retention” (200%) and “Net Dollar Base Retention” (255%).

Bear case

  • Dependence on mobile ad monetization dynamics: Because advertising is heavily tied to mobile games (90% of advertising revenue from mobile games), results may be sensitive to changes in that ecosystem.
  • Execution risk in platform migration: Key operating progress depends on publisher migration and app integration into MAX (for example, “MoPub-to-Max Publisher Migration Rate” and “Apps Using Max (MoPub Integration Progress)”), which can slow or vary over time.
  • Privacy and user-data constraints: Adjust is described as protecting user data, so regulatory or platform changes affecting data and measurement could impact marketers’ ability to measure and optimize campaigns.
Valuation — source: SEC EDGAR (first-party)
Price$424.47
Market Cap$142.75B
P/E Ratio41.5
EV / EBITDA31.6
Price / Book60.40
Price / Sales23.83
DCF Value (model)$93.43
DCF Upside vs Price-78.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$5.48B
Net Margin60.8%
Revenue Growth (YoY)16.4%
EPS Growth (YoY)110.3%
Financial Health — source: SEC EDGAR
Altman Z-Score20.30 (safe)
Piotroski F-Score8/9 (strong)
Valuation vs Sector & Industry
Stock P/E41.5
Sector P/E (Technology)34.7
Industry P/E (Business Services)30.7
vs Sector19.8%
vs Industry35.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($16.93B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryBusiness Services
CEOAdam Arash Foroughi
Employees1,533
CountryUS
IPO Date2021-04-15

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APP earnings history · APP institutional & insider holders · APP KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.