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 13,382 108,675 227,721 106,770 - -
Change - -88.9% 241.9% 712.11% 109.54% -53.11% - -
Enterprise Value (EV) 1 36,981 6,045 16,000 111,442 228,747 105,239 100,586 94,302
Change - -83.65% 164.68% 596.49% 105.26% -53.99% -4.42% -6.25%
P/E 1,047x -20.3x 40.7x 71.5x 69.1x 20.3x 15.8x 12.6x
PBR 16.5x 2.07x 10.8x 101x 107x 22.1x 12.1x 7.46x
PEG - 0x -0x 0x 1x 0.3x 0.6x 0.5x
Capitalization / Revenue 12.6x 1.39x 4.08x 23.1x 41.5x 13.2x 10.4x 8.38x
EV / Revenue 13.2x 2.15x 4.87x 23.7x 41.7x 13x 9.75x 7.4x
EV / EBITDA 50.9x 5.69x 10.6x 41x 50.7x 15.4x 11.7x 8.79x
EV / EBIT 247x -126x 24.7x 59.5x 55.1x 16.6x 12.4x 9.4x
EV / FCF 103x 15.6x 15.1x 53.7x 57.9x 20.3x 14.6x 11x
FCF Yield 0.97% 6.4% 6.61% 1.86% 1.73% 4.93% 6.83% 9.11%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.09 -0.52 0.98 4.53 9.75 15.7 20.13 25.39
Distribution rate - - - - - - - -
Net sales 1 2,793 2,817 3,283 4,709 5,481 8,118 10,312 12,748
EBITDA 1 726.8 1,063 1,503 2,720 4,512 6,813 8,627 10,733
EBIT 1 150 -47.79 648.2 1,873 4,152 6,352 8,090 10,034
Net income 1 31.7 -192.7 354.9 1,577 3,334 5,269 6,734 8,507
Net Debt 1 1,707 2,131 2,619 2,768 1,026 -1,531 -6,185 -12,468
Reference price 2 94.26 10.53 39.85 323.83 673.82 319.05 319.05 319.05
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.45x4.17x8.72x-.--% 111B
20.32x12.96x15.44x-.--% 107B
28.31x5.85x14.13x-.--% 50.52B
34.98x4.38x13.09x-.--% 48.41B
16.55x5.91x15.11x0.86% 41.12B
16.75x6.43x13.14x-.--% 16.18B
25.48x2.37x13.66x-.--% 14.4B
27.69x - - 3.51% 11.16B
76.15x4.63x18.92x-.--% 9.94B
Average 29.08x 5.84x 14.03x 0.49% 45.52B
Weighted average by Cap. 22.93x 6.98x 13.01x 0.18%

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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  5. Valuation AppLovin Corporation