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Applovin Corporation (APP)

Valor Justo
Communication ServicesAdvertising AgenciesUnited States

Fundamental

77

Precio

$278.23

Capitalización Bursátil

$104.57B

Parte 1 · Cuánto vale la empresa

Resumen

AppLovin runs an advertising auction that decides which ad a mobile app shows a user and how much the advertiser pays for that moment, then continually adjusts its bidding based on which ads actually lead to a purchase or install. It built this business inside mobile games, buying ad space from thousands of small game publishers and reselling it to advertisers, then rebuilt its bidding technology around AI. In 2025 it sold off the mobile game studios it used to own, becoming a pure advertising-technology company.

Cómo genera ingresos

AppLovin earns the spread between what advertisers pay to show an ad and what it pays app publishers for the ad space, plus platform fees. Because it prices each auction using its own AI model, better predictions of which user will actually buy something let it bid more aggressively and win more auctions without giving away margin — an edge built on data and algorithms rather than a sales force. Following the 2025 divestiture of its Apps business, essentially all revenue now comes from this single advertising segment.

Ingresos por segmento

Advertising100%

AppLovin's entire reported business following the 2025 sale of its mobile game studios: the AI-driven advertising and app-marketing platform, now its only segment.

Ventaja competitiva

Efectos de red · Estrecha

More advertiser demand bidding into AppLovin's auction generates better training data for its AI pricing model, which in turn wins more ad placements from publishers, attracting still more advertiser demand — a flywheel visible in its recent growth. But the underlying auction technology is not unique to AppLovin, and large rivals like Google and Meta run comparable systems at even greater scale.

Qué impulsa la demanda

Cíclico

Advertising budgets, especially the mobile app install and in-app purchase spending AppLovin depends on, expand and contract with the broader economy and with how much cash mobile game and app developers have to spend on user acquisition. A slowdown in consumer discretionary spending on apps and games flows quickly into lower marketing budgets and lower AppLovin revenue.

Riesgos clave

  • Dependence on Apple and Google distribution — AppLovin's advertisers and publishers operate almost entirely inside the Apple App Store and Google Play Store; a policy change on tracking, data sharing or fees by either platform can directly affect ad targeting and revenue.
  • Concentration in mobile gaming ad spend — A large share of ad demand still comes from mobile game developers buying user-acquisition ads; a pullback in gaming ad budgets affects AppLovin more than a broadly diversified ad platform.
  • Reliance on a single reportable segment — After divesting its Apps business in 2025, AppLovin depends entirely on its advertising platform for revenue, with no other business line to offset a slowdown there.
  • Competition from much larger advertising platforms — Google, Meta and other large ad platforms compete for the same advertiser budgets with far greater scale and data, and could apply comparable AI bidding technology of their own.

Los argumentos a favor

Buyers argue that focusing entirely on advertising after selling the Apps business lets management concentrate fully on its highest-margin, fastest-growing technology, that its AI bidding engine has demonstrably out-performed the industry given 70% revenue growth, and that mobile gaming is just the first vertical it can expand its auction technology into.

Los argumentos en contra

Sellers fear that divesting the Apps business removes a diversifying revenue stream and leaves AppLovin fully exposed to one advertising segment, that its growth depends heavily on ad spend from mobile game developers that can pull back quickly, and that far larger platforms like Google and Meta could replicate its AI-bidding advantage given enough time and data.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 23 de agosto de 2026 with claude-opus-5 — shared with all users

P/E: 27.3Score: 68Market cap: —

Meta's Audience Network and its app-install ad products chase the same performance advertising budgets from mobile app and e-commerce marketers that AppLovin's AXON engine is built to win.

P/E: —Score: 50Market cap: $17.54B

Unity's LevelPlay mediation and Unity Ads network, built on the acquired ironSource business, are the closest like-for-like alternative to AppLovin MAX for mobile game publishers and user-acquisition buyers.

P/E: 20.0Score: 69Market cap: $2.69T

Named in AppLovin's own 10-K, Amazon's advertising arm competes for the e-commerce and performance budgets AppLovin is targeting as it opens its platform beyond gaming.

Alphabet Inc. (Google)GOOGL

Google's AdMob and Google Ads compete directly with AppLovin's MAX mediation and ad network for the same app publishers' ad inventory and the same advertisers' spend.

Moloco, Inc.Not tracked

Moloco is an independent machine-learning demand-side platform selling ROAS-optimized app-install and commerce media campaigns to the same app marketers and retailers AppLovin courts with its self-serve platform.

Liftoff Mobile, Inc.Not tracked

Liftoff runs a mobile performance ad network and the Vungle monetization stack, competing for the same user-acquisition budgets and the same app publishers' ad slots.

Balance y Liquidez

Ingresos

$6.83B

Últimos 12 meses (hasta 30/6/2026)

Beneficio Neto

$4.41B

Últimos 12 meses (hasta 30/6/2026)

Flujo de Caja Libre

-

Patrimonio Neto Total

$2.13B

Pasivo Total

$5.12B

Ratio de Liquidez

4.30

Cobertura de Intereses

26.62

Deuda/EBITDA

0.81

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalValoración Justa

Valor Justo

$280.59

Precio Actual

$278.23

Margen de Seguridad

+0.8%

Rango de Valor Justo

$182.38 - $378.80

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$498.37
Flujo de caja descontado (DCF):$53.24
Múltiplo sobre beneficios (P/E):$225.17
Fórmula de crecimiento de Graham:$211.97
Valor de la capacidad de generar beneficios (EPV):$68.87
P/B justificado:$77.59
Descuento de dividendos (Gordon):Datos insuficientes para calcularlo
P/FFO, fondos de operaciones:$168.38
Beneficios de mitad de ciclo:$69.03
Múltiplo sobre ingresos:$41.64
Consenso de Analistas:Compra Fuerte (29B / 8H / 0S)
Última Sorpresa de Resultados:+0.07%

Métricas de Valoración

Ratio P/E

22.32

ROE

156.2%

Ratio P/B

30.79

P/FCF

-

Margen Bruto

88.5%

ROIC

59.6%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC atípico

ROIC

59.6%

WACC

17.6%

ROIC − WACC

+42.0 pp

El ROIC supera el coste del capital: la empresa está creando valor para los accionistas.

Criterios de Análisis Fundamental

Superado (19)

  • EPS shows upward trend
  • EPS CAGR 73.29%
  • Price CAGR 27.32%
  • ROIC 59.6%
  • Gross Margin 88.5%
  • Debt/Equity ratio
  • Operating Margin 77.4%
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • ROE 193.1%
  • Revenue Growth 5Y 30.4%
  • Analyst Consensus 78% Buy
  • Earnings Surprise avg 3.5%
  • Earnings Quality (OCF/NI) 1.03
  • Share Dilution -2.0%
  • Net Margin Trend 64.6% vs 62.7%
  • Piotroski F-Score 9/9

Fallido (4)

  • P/B Ratio 30.79
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)

No disponible (5)

  • P/FCF NaN
  • Dividend Payout NaN%
  • Positive Free Cash Flow
  • CapEx intensity
  • PEG Ratio (need PE > 0 and growth > 0)

Piotroski F-Score

9/9

Solidez financiera fuerte

score
criteria

Calidad de los Beneficios

1.03

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-2.0%

Recomprando acciones. Favorable para el accionista

Participaciones institucionales

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Adam Arash ForoughiCo-Founder, CEO & Director44
Mr. Matthew A. StumpfChief Financial Officer41
Ms. Victoria ValenzuelaConsultant51
Mr. Dmitriy DoroshVice President Controller & Principal Accounting Officer-
Mr. Giovanni GeChief Technology Officer-
Mr. David HsiaoHead of Investor Relations-
Ms. Corina CacoveanChief Legal Officer-

Riesgo de Auditoría

1

Riesgo del Consejo

9

Riesgo de Compensación

10

Riesgo de Derechos del Accionista

10

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Documentos

  • Informe anual (10-K)

    Un resumen anual del negocio, los resultados financieros y los riesgos de la empresa.

    Presentado el 2026-02-19

    Ver documento
  • Informe trimestral (10-Q)

    Una actualización del desempeño financiero de los últimos tres meses.

    Presentado el 2026-08-05

    Ver documento
  • Informe de hecho relevante (8-K)

    Un aviso sobre un hecho relevante, como un cambio de dirección o un anuncio importante.

    Presentado el 2026-08-05

    Ver documento

via SEC EDGAR

Historial de Resultados

via SEC EDGAR

Latest News

Recent headlines for APP, sourced from Markets Gazette.

  • 1d agoPOSITIVE
    AppLovin: island reversal e divergenza rialzista — cosa aspettarsi?

    AppLovin Corporation's stock has shown signs of a potential rebound after a significant decline. The stock has been trading horizontally for the past two months within a tight range between $297 and $352. Technical analysis indicates the formation of an island reversal pattern, a bullish signal suggesting a possible upward movement. Despite a recent 60% drop from its all-time high and a death cross formation on July 15th, the current pattern suggests that the selling pressure might be easing, offering a potential entry point for investors anticipating a recovery.

  • 8d agoNEGATIVE
    Vendere AppLovin dopo l'avviso di Edgewater su un tetto di crescita?

    AppLovin Corporation shares experienced a significant decline following a cautionary research note from Edgewater Research. Analyst Joe Wittine has revised down his Q4 revenue estimates for the mobile technology firm, citing a substantial year-over-year slowdown. Edgewater's report suggests that previous gains in customer share-of-wallet have reached a plateau, indicating a more constrained growth outlook. This cautious stance from Edgewater adds further pressure on AppLovin's stock, which has already seen a more than 50% decrease since early January. Investors are advised to monitor AppLovin's upcoming earnings reports for confirmation of these growth concerns.

  • 8/21/2026NEGATIVE
    Piper Sandler sconsiglia di comprare il calo delle azioni AppLovin

    Piper Sandler analyst James Callahan issued a cautious note on AppLovin (APP), maintaining a Neutral rating and lowering the price target to $325. This comes as APP shares have already fallen over 50% since early June. The firm cited a significant loss of operational momentum within the mobile technology company's engine. Investors should note that the reduced price target suggests limited upside potential from current levels, reinforcing a bearish sentiment for the stock amidst ongoing operational challenges.

  • 8/6/2026NEGATIVE
    AppLovin’s AI stumbles send the stock sliding toward its worst day in over a year

    AppLovin Corporation experienced a significant stock decline, approaching its worst performance in over a year, following a stumble in its artificial intelligence initiatives. The company also failed to meet revenue expectations for the most recent fiscal quarter. This dual disappointment suggests potential headwinds in AppLovin's core business and its forward-looking AI strategy, raising concerns among investors about future growth prospects and competitive positioning in the rapidly evolving tech landscape.

  • 6/12/2026POSITIVE
    If You Invested $100 In AppLovin Stock 5 Years Ago, You Would Have This Much Today

    An investment of $100 in AppLovin Corporation (APP) five years ago would have yielded a substantial return, illustrating the company's significant growth trajectory. While specific figures are not provided in the prompt, the article's premise suggests a strong performance for APP shareholders. This highlights AppLovin's success in the mobile technology and advertising sector, potentially driven by its platform innovations and market expansion. Investors considering the stock should analyze its recent performance, competitive landscape, and future growth catalysts.

  • 6/9/2026NEGATIVE
    Why AppLovin Stock Is Tumbling Tuesday

    AppLovin Corporation (NASDAQ: APP) experienced a significant decline, trading down approximately 8% on Tuesday. This downturn is attributed to a broader market sentiment characterized by a 'risk-off' environment, which is particularly impacting high-multiple software and ad-tech companies. The Nasdaq index's performance is a key indicator of this trend, suggesting that investors are moving away from growth-oriented, speculative assets. For shareholders, this indicates a challenging period for the ad-tech sector, potentially driven by macroeconomic concerns or a shift in investor appetite.

  • 5/27/2026POSITIVE
    Applovin Stock Is Skyrocketing Today: What's Going On?

    Applovin Corporation shares experienced a significant surge on Wednesday, indicating strong positive market sentiment towards the company. While the article mentions a slide in oil prices due to a U.S.-Iran agreement potentially easing shipping chokepoints, the primary focus and the driver of the stock's movement is Applovin's performance. Investors are likely reacting to company-specific news or broader market trends that favor technology and advertising platforms, overshadowing commodity market fluctuations. This upward momentum suggests a positive outlook for Applovin's business operations and future growth prospects.

  • 5/26/2026POSITIVE
    Applovin Stock Surges On U.S.-Iran Negotiation Hopes

    Applovin Corporation shares experienced a notable surge on Tuesday, driven by a broader market rotation into software sector stocks. This upward movement is attributed to cooling inflation expectations, which are indirectly influenced by developing geopolitical situations involving U.S.-Iran negotiations. The shift suggests investors are seeking growth opportunities in technology amidst perceived stability in the Middle East, potentially signaling a favorable environment for software companies like Applovin.

  • 5/19/2026NEUTRAL
    Here's How Much You Would Have Made Owning AppLovin Stock In The Last 5 Years

    AppLovin Corporation (APP) stock has experienced significant performance over the past five years. While the article title suggests a focus on historical returns, it does not provide specific figures or context regarding recent performance drivers, future outlook, or any new developments. Therefore, it serves as an informational piece on past stock appreciation rather than a forward-looking trading signal. Investors should consult more current financial data and analysis for actionable insights.

  • 5/7/2026POSITIVE
    Applovin Stock A Buy After Q1 Results, Guidance: Analyst Says 'Valuation Remains Cheap'

    Applovin Corporation's stock is experiencing a significant surge following its Q1 results and positive guidance, with analysts labeling its valuation as 'cheap' and suggesting further upside potential. The company's consumer business segment is identified as a key driver for future growth. This positive sentiment is reinforced by sustained 'Overweight' and 'Outperform' ratings from major financial institutions like Morgan Stanley and Credit Suisse, indicating strong institutional confidence in the company's performance and market position. Investors are likely to see this as a signal for potential capital appreciation.

via Markets Gazette