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AppLovin Valuation Multiples
Discover revenue and EBITDA valuation multiples for AppLovin and similar public comparables like Baidu, theTradeDesk, Amdocs, CyberAgent and more.
AppLovin Overview
About AppLovin
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin’s revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max. AppLovin’s primary tool for future growth is AXON 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
Founded
2011
HQ
Employees
898
Website
Financials (LTM)
EV
$147B
AppLovin Financials
AppLovin reported last 12-month revenue of $6B and EBITDA of $5B.
In the same LTM period, AppLovin generated $5B in gross profit, $5B in EBITDA, and $4B in net income.
Revenue (LTM)
AppLovin P&L
In the most recent fiscal year, AppLovin reported revenue of $5B and EBITDA of $5B.
AppLovin expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Margin | 87% | XXX | 88% | XXX | XXX | XXX |
| EBITDA | $5B | XXX | $5B | XXX | XXX | XXX |
| EBITDA Margin | 83% | XXX | 82% | XXX | XXX | XXX |
| EBIT Margin | 75% | XXX | 76% | XXX | XXX | XXX |
| Net Profit | $4B | XXX | $3B | XXX | XXX | XXX |
| Net Margin | 63% | XXX | 61% | XXX | XXX | XXX |
| Net Debt | — | — | $1B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
AppLovin Stock Performance
AppLovin has current market cap of $146B, and enterprise value of $147B.
Market Cap Evolution
AppLovin's stock price is $432.98.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $147B | $146B | 0.0% | XXX | XXX | XXX | $9.88 |
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Start Free TrialAppLovin Valuation Multiples
AppLovin trades at 24.0x EV/Revenue multiple, and 29.0x EV/EBITDA.
EV / Revenue (LTM)
AppLovin Financial Valuation Multiples
As of April 3, 2026, AppLovin has market cap of $146B and EV of $147B.
Equity research analysts estimate AppLovin's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
AppLovin has a P/E ratio of 38.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $146B | XXX | $146B | XXX | XXX | XXX |
| EV (current) | $147B | XXX | $147B | XXX | XXX | XXX |
| EV/Revenue | 24.0x | XXX | 26.8x | XXX | XXX | XXX |
| EV/EBITDA | 29.0x | XXX | 32.6x | XXX | XXX | XXX |
| EV/EBIT | 32.2x | XXX | 35.4x | XXX | XXX | XXX |
| EV/Gross Profit | 27.5x | XXX | 30.5x | XXX | XXX | XXX |
| P/E | 38.1x | XXX | 43.8x | XXX | XXX | XXX |
| EV/FCF | 34.6x | XXX | 37.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified AppLovin Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
AppLovin Margins & Growth Rates
AppLovin's revenue in the last 12 month grew by 41%.
AppLovin's revenue per employee in the last FY averaged $6.1M, while opex per employee averaged $0.7M for the same period.
AppLovin's rule of 40 is 130% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
AppLovin's rule of X is 200% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
AppLovin Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 41% | XXX | 46% | XXX | XXX | XXX |
| EBITDA Margin | 83% | XXX | 82% | XXX | XXX | XXX |
| EBITDA Growth | 43% | XXX | 49% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 130% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 200% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $6.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 4% | XXX | 5% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 4% | XXX | 4% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 4% | XXX | 5% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 12% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
AppLovin Public Comps
See public comps and valuation multiples for other AdTech Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Baidu | XXX | XXX | XXX | XXX | XXX | XXX |
| theTradeDesk | XXX | XXX | XXX | XXX | XXX | XXX |
| Amdocs | XXX | XXX | XXX | XXX | XXX | XXX |
| CyberAgent | XXX | XXX | XXX | XXX | XXX | XXX |
| Zeta Global | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
AppLovin M&A Activity
AppLovin acquired XXX companies to date.
Last acquisition by AppLovin was on XXXXXXXX, XXXXX. AppLovin acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by AppLovin
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAppLovin Investment Activity
AppLovin invested in XXX companies to date.
AppLovin made its latest investment on XXXXXXXX, XXXXX. AppLovin invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by AppLovin
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout AppLovin
| When was AppLovin founded? | AppLovin was founded in 2011. |
| Where is AppLovin headquartered? | AppLovin is headquartered in United States. |
| How many employees does AppLovin have? | As of today, AppLovin has over 898 employees. |
| Who is the CEO of AppLovin? | AppLovin's CEO is Adam Foroughi. |
| Is AppLovin publicly listed? | Yes, AppLovin is a public company listed on Nasdaq. |
| What is the stock symbol of AppLovin? | AppLovin trades under APP ticker. |
| When did AppLovin go public? | AppLovin went public in 2021. |
| Who are competitors of AppLovin? | AppLovin main competitors are Baidu, theTradeDesk, Amdocs, CyberAgent. |
| What is the current market cap of AppLovin? | AppLovin's current market cap is $146B. |
| What is the current revenue of AppLovin? | AppLovin's last 12 months revenue is $6B. |
| What is the current revenue growth of AppLovin? | AppLovin revenue growth (NTM/LTM) is 41%. |
| What is the current EV/Revenue multiple of AppLovin? | Current revenue multiple of AppLovin is 24.0x. |
| Is AppLovin profitable? | Yes, AppLovin is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of AppLovin? | AppLovin's last 12 months EBITDA is $5B. |
| What is AppLovin's EBITDA margin? | AppLovin's last 12 months EBITDA margin is 83%. |
| What is the current EV/EBITDA multiple of AppLovin? | Current EBITDA multiple of AppLovin is 29.0x. |
| What is the current FCF of AppLovin? | AppLovin's last 12 months FCF is $4B. |
| What is AppLovin's FCF margin? | AppLovin's last 12 months FCF margin is 70%. |
| What is the current EV/FCF multiple of AppLovin? | Current FCF multiple of AppLovin is 34.6x. |
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