APP
AppLovin Corporation

AppLovin CorporationAPP

Communication Services · Advertising Agencies
391.22USD
+9.86%
Nov 08, 2026
APP overview ready
AI-driven performance advertising platform for mobile and connected TV
AppLovin is a direct performance-advertising platform operator whose software uses machine-learning optimization and a large mobile-app supply-and-demand network to match advertisers with users, automate bidding and campaign delivery, and measure conversion outcomes.
Theme not measured
No economic group is assigned yet.
Price trend is broken
Longer-term context reads early trend, with a near-term setup of reclaim attempt.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on digital advertising spend trends.
Market Nov 6Filing Sep 30Price action Nov 7Research Nov 4

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction8.9BusinessPerformance7.0BusinessQuality7.6Valuation2.5ThemeMomentum—Improving — Revenue is growing at a steady pace (+56% year over year). Diluted EPS is up 76% year over year at $4.30. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
No economic group yet — pending research
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early trend, with a near-term setup of reclaim attempt.
EntryBreakout + retest

Price broke through the weekly SMA200, then retested it constructively and recovered — a fresh structural entry rather than a chase.

Key Financials

Market Cap
$129.6B
Avg Volume (60D)
5.4M
60 sessions
Revenue Growth YoY
+70.0%
FY2025 vs FY2024
Gross Margin
+88.8%
Operating Margin
+77.8%
Trailing twelve months
Free Cash Flow Yield
+2.9%
Distance from 200DMA
-4.4%
P/E
25.9x
EV / EBITDA
21.5x
EV / Sales
17.1x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Improving

Revenue is growing at a steady pace (+56% year over year). Diluted EPS is up 76% year over year at $4.30.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+56%
$2.18B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +66%
  2. +59%
  3. +53%
  4. +56%
Earnings growthGrowing
+76%
Diluted EPS $4.30 vs $2.45 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +87%
  2. +113%
  3. +57%
  4. +76%
Operating marginExpanding
78.2%
+1.4 pp YoY

Business Quality

7.6 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

One of the two valuation perspectives says expensive; intrinsic is the dissenting view.
AppLovin Corporation has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at a 4.2% free-cash-flow yield and 21.5x EBITDA, which require sustained delivery to be justified.

What changed

  • APP rose 9.9% in one session
    APP closed +9.9% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
AppLovin is a direct performance-advertising platform operator whose software uses machine-learning optimization and a large mobile-app supply-and-demand network to match advertisers with users, automate bidding and campaign delivery, and measure conversion outcomes.
Opportunity
Moderate opportunity
Advertisers are increasing use of machine-learning and agentic software to automate media buying, audience targeting, creative testing, bidding, measurement, and budget allocation toward measurable return on ad spend across mobile, connected TV, social, and the open web.
Key risk
Dependence on digital advertising spend trends.

Economic classification

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Business & Markets

Communication Services · Advertising Agencies
What they do

AppLovin Corporation operates an AI-powered digital advertising platform that provides marketing automation, optimization, and measurement solutions through its Advertising and Apps segments.

How it earns

The company generates revenue primarily through transactional fees and platform usage tied to advertising spend and app monetization.

Products & services
Axon Ads Manager
MAX in-app bidding technology
Adjust measurement and analytics platform
Wurl connected TV platform
Customers & end markets
Mobile app developers
Advertisers
Digital publishers
Connected TV content providers
Market position

Leader in AI-driven performance advertising platforms with integrated monetization and measurement technologies.

Demand drivers
Medium cyclicality

Demand for digital advertising can fluctuate with broader economic cycles and marketing budgets.