Company Valuation: AppLovin Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,274 3,914 13,382 108,675 227,721 97,193 - -
Change - -88.9% 241.9% 712.11% 109.54% -57.32% - -
Enterprise Value (EV) 1 36,981 6,045 16,000 111,442 228,747 95,842 91,546 85,797
Change - -83.65% 164.68% 596.49% 105.26% -58.1% -4.48% -6.28%
P/E 1,047x -20.3x 40.7x 71.5x 69.1x 18.5x 14.5x 11.6x
PBR 16.5x 2.07x 10.8x 101x 107x 20.4x 11.2x 6.94x
PEG - 0x -0x 0x 1x 0.3x 0.5x 0.5x
Capitalization / Revenue 12.6x 1.39x 4.08x 23.1x 41.5x 12x 9.48x 7.7x
EV / Revenue 13.2x 2.15x 4.87x 23.7x 41.7x 11.8x 8.93x 6.8x
EV / EBITDA 50.9x 5.69x 10.6x 41x 50.7x 14.1x 10.7x 8.08x
EV / EBIT 247x -126x 24.7x 59.5x 55.1x 15.1x 11.4x 8.68x
EV / FCF 103x 15.6x 15.1x 53.7x 57.9x 18.5x 13.3x 9.98x
FCF Yield 0.97% 6.4% 6.61% 1.86% 1.73% 5.41% 7.51% 10%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.09 -0.52 0.98 4.53 9.75 15.66 20 25.09
Distribution rate - - - - - - - -
Net sales 1 2,793 2,817 3,283 4,709 5,481 8,099 10,250 12,619
EBITDA 1 726.8 1,063 1,503 2,720 4,512 6,800 8,582 10,618
EBIT 1 150 -47.79 648.2 1,873 4,152 6,344 8,040 9,887
Net income 1 31.7 -192.7 354.9 1,577 3,334 5,259 6,694 8,406
Net Debt 1 1,707 2,131 2,619 2,768 1,026 -1,351 -5,647 -11,395
Reference price 2 94.26 10.53 39.85 323.83 673.82 290.43 290.43 290.43
Nbr of stocks (in thousands) 374,221 371,690 335,802 335,592 337,955 334,651 - -
Announcement Date 2/16/22 2/8/23 2/14/24 2/12/25 2/11/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.54x11.83x14.1x-.--% 97.19B
26.04x9.62x15.73x0.77% 3,809B
122.44x53.43x86.72x-.--% 449B
20.67x5.89x10.32x1.45% 416B
252.08x22.5x65.87x-.--% 325B
2647.5x44.38x142.94x-.--% 272B
26.28x5.27x16.62x1.44% 243B
86.75x8.42x22.54x-.--% 139B
57.81x15.57x41.01x-.--% 131B
489.24x20.98x82.9x-.--% 98.33B
Average 374.73x 19.79x 49.88x 0.37% 597.95B
Weighted average by Cap. 173.91x 15.08x 31.02x 0.65%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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