APP

AppLovin Corporation

$269.12

+1.12% 2026-10-19

Communication ServicesS&P 500

1M 3M 6M 1Y 2Y

APPSPY

-0.6%

-12.6%

-36.6%

-45.2%

YTD

-60.1%

-55.1%

Grades vs sector

Momentum

6th pct in sector

12-1 return: -54.4%
Percentile within its GICS sector across the S&P 1500.

Growth

92nd pct in sector

Revenue growth (YoY): +52.8%
Percentile within its GICS sector across the S&P 1500.

Value

39th pct in sector

C-

Forward E/P: 7.7% · EBITDA/EV: 6.0%
Percentile within its GICS sector across the S&P 1500.

Profitability

100th pct in sector

A+

Profit margin: +64.6% · Return on equity: +203.7%
Percentile within its GICS sector across the S&P 1500.

Revisions

no data

–

EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Held by 1 of 3 live models: Quality Growth.

Quality Growth

6.7% of the book · rank 4 of 360

Held Momentum Top 15

rank 497 of 499 · 12-1 momentum % -56.6

Momentum Blend

not in the current book

Why it's in Quality Growth #4 of 360

Qualified on ROIC 115%, revenue +29% (TTM), growth accelerating +19.5 pts, latest quarter 2026-06-30. Ranked 4th of 360 at the 2026-09-30 rebalance.

What would knock it out: Drops out if it falls outside the top 15 at the next rebalance (Oct 30). In the latest preview (2026-10-16) it ranks 3rd.

Key stats

Market cap$90.4B

P/E (trailing)20.7

P/E (forward)13.1

52-week range260.59 – 738.01

Revenue growth (YoY, latest qtr)+52.8%

Dividend yield0.00%

Analyst consensusBuy (31)

Mean price target$476.85 (+77%)

Valuation & fundamentals

Bottom line

Looks undervalued

Model read-out from the numbers below, not advice. Score +3 (DCF counts double).

▲DCF (base case)above the price by 94%

▼Forward P/E vs sector13.1x vs median 11.0x

▲Piotroski F-score8/9

▲Altman Z14.6 (safe)

▲Net debt / EBITDA0.1x

▲Analyst target+77% (31 analysts)

Discounted cash flow

Bear

$251

-7%

growth 18% · disc. 14.0% · term. 2.0%

Base

$521

+94%

growth 30% · disc. 13.0% · term. 2.5%

Bull

$886

+229%

growth 38% · disc. 12.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal

Today's price assumes free cash flow grows about 13% a year for 10 years.

Implied

+13%/yr

FCF, last 3 yrs

+113%/yr

FCF, last 5 yrs

+78%/yr

Revenue, last 3 yrs

+25%/yr

Revenue, last 5 yrs

+30%/yr

Same inputs as the DCF above: trailing free cash flow 4.5B, 13.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.

Edit assumptions · recalculates instantly

Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 2.56 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Communication Services

P/E (trailing)

sector median 18.8× · 53rd pct

20.7×
pricier

Forward P/E

sector median 11.0× · 56th pct

13.1×
pricier

EV / EBITDA

sector median 12.2× · 73rd pct

16.8×
pricier

Price / sales

sector median 1.9× · 96th pct

13.2×
pricier

Price / book

sector median 2.3× · 98th pct

28.6×
pricier

FCF yield

sector median 8.2% · 35th pct

5.0%
pricier

Forward EPS $20.53 vs trailing $13.01 (+58% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin

88.5%

Operating margin

77.4%

FCF margin

66.2%

Net margin

64.6%

Return on equity

139.4%

Return on invested capital

117.0%

Net debt / EBITDA

0.1×

Current ratio

4.3×

Interest cover

–

Cash conversion (OCF/NI)

1.0×

Piotroski F-score 8/9 · last two fiscal years

✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 14.6 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target

$477

+77%

Analysts

Buy

Range

$325–$790

low – high

● price · ◆ mean target

Annual history

FY	Revenue	Net income	Free cash flow
2025	$5.5B	$3.3B	$4.0B
2024	$3.2B	$1.6B	$2.1B
2023	$1.8B	$356.7M	$1.1B
2022	$2.8B	$-192.7M	$412.1M
2021	$2.8B	$35.4M	$360.5M
2020	$1.5B	$-125.2M	$219.6M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR +24.8%.

Earnings

Next report: 2026-11-04 · during market · EPS est 4.03

EstimateActual (beat)Actual (miss)

Report	EPS est	Actual	Surprise
2026-08-05	3.74	3.76	+0.4%
2026-05-06	3.64	3.76	+3.5%
2026-02-11	3.11	3.48	+11.9%
2025-11-05	2.53	2.55	+0.6%
2025-08-06	2.32	2.36	+1.7%
2025-05-07	1.96	2.38	+21.8%
2025-02-12	1.83	2.07	+13.3%
2024-11-06	1.23	1.47	+19.6%

Quarterly revenue

Quarter	Revenue	YoY
2026-06-30	$1.9B	+52.8%
2026-03-31	$1.8B	–
2025-12-31	$1.7B	–
2025-09-30	$1.4B	–
2025-06-30	$1.3B	–

Analyst actions

Citigroup

2026-10-19 · main

Buy → Buy
PT $500

Goldman Sachs

2026-10-14 · main

Neutral → Neutral
PT $400

Wedbush

2026-10-14 · main

Outperform → Outperform
PT $560

Morgan Stanley

2026-10-13 · main

Overweight → Overweight
PT $400

Oppenheimer

2026-10-12 · main

Outperform → Outperform
PT $490

Jefferies

2026-10-08 · main

Buy → Buy
PT $375

Insider trades

None

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News

Trade Desk Is Now Down 67% This Year: Is TTD Stock Dead Money or Due for a Bounce?

24/7 Wall St. · Oct 16

Stats refreshed 2026-10-19 17:47:11 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Coteau Systematic StrategiesSystematic equity research and model portfolios.
Coteau Systematic Strategies publishes research, model portfolios and tools. It does not manage money or offer investment advice. Model results are hypothetical. Data: Yahoo Finance (delayed), SEC EDGAR.

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