7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $5.5B | $3.3B | 87.9% | 75.8% | 156.2% | 45.9% | — | $3.5B | $2.5B |
| 2024 | $3.2B | $1.6B | 83.9% | 59.3% | 145.0% | 26.9% | $2.1B | $3.5B | $697M |
| 2023 | $1.8B | $357M | 80.6% | 41.9% | 28.4% | 6.7% | $1.1B | $3.3B | $502M |
| 2022 | $2.8B | -$193M | 55.4% | -1.7% | -10.1% | -3.3% | $412M | $3.2B | $1.1B |
| 2021 | $2.8B | $35M | 64.6% | 5.4% | 1.6% | 0.6% | $360M | $3.3B | $1.5B |
| 2020 | $1.5B | -$125M | 61.7% | -4.3% | 79.0% | -5.8% | $220M | $1.6B | $317M |
| 2019 | $994M | $119M | 75.7% | 19.6% | -46.4% | — | $195M | — | $396M |
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | $1.9B | $1.3B | 88.3% | 77.7% | 40.0% | 15.3% | — | $3.5B | $3.1B |
| Mar '26 | $1.8B | $1.2B | 88.9% | 78.2% | 51.0% | 15.6% | — | $3.5B | $2.8B |
| Dec '25 | $1.7B | $1.1B | 88.9% | 76.9% | 51.6% | 15.2% | — | $3.5B | $2.5B |
| Sep '25 | $1.4B | $836M | 87.6% | 76.8% | 56.7% | 13.2% | — | $3.5B | $1.7B |
| Jun '25 | $1.3B | $820M | 87.7% | 76.1% | 70.2% | 13.8% | — | $3.5B | $1.2B |
| Mar '25 | $1.2B | $576M | 86.9% | 72.5% | 100.2% | 10.1% | — | $3.7B | $551M |
| Dec '24 | $999M | $599M | 84.7% | 62.9% | 55.0% | 10.2% | — | $3.5B | $697M |
| Sep '24 | $835M | $434M | 85.5% | 64.0% | 46.3% | 8.0% | — | $3.5B | $568M |
| Jun '24 | $711M | $310M | 82.9% | 54.1% | 38.0% | 5.9% | — | $3.5B | $460M |
| Mar '24 | $1.1B | $236M | 72.2% | 32.1% | 31.1% | 4.5% | — | $3.5B | $436M |
| Dec '23 | $953M | $172M | 71.3% | 28.3% | 13.7% | 3.2% | $344M | $3.3B | $502M |
| Sep '23 | $864M | $109M | 69.3% | 21.6% | 9.9% | 2.2% | $199M | $3.1B | $332M |
| Jun '23 | $750M | $80M | 65.5% | 17.5% | 5.3% | 1.5% | $226M | $3.2B | $876M |
| Mar '23 | $715M | -$5M | 63.4% | 8.5% | -0.2% | -0.1% | $289M | $3.2B | $1.2B |
| Dec '22 | $702M | -$80M | 47.4% | -3.2% | -4.2% | -1.4% | $163M | $3.2B | $1.1B |
| Sep '22 | $713M | $24M | 57.8% | 6.9% | 1.3% | 0.4% | $174M | $3.2B | $944M |
| Jun '22 | $776M | -$22M | 60.8% | 6.9% | -1.1% | -0.4% | $107M | $3.2B | $952M |
| Mar '22 | $625M | -$115M | 54.9% | -20.5% | -5.7% | -1.9% | -$32M | $3.2B | $1.4B |
| Dec '21 | $793M | $31M | 66.6% | 7.4% | 1.5% | 0.5% | $85M | $3.3B | $1.5B |
| Sep '21 | $727M | $178000 | 65.1% | 6.2% | 0.0% | 0.0% | $124M | $1.7B | $1.0B |
How the market has priced APP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, AppLovin's revenue has grown 30.4% per year. These are computed facts, not advice.
As of FY2025, AppLovin reported $3.5B of total debt against $2.5B of cash; operating income covered interest expense 20×.
In FY2025, gross margin was 87.9%, operating margin 75.8%, and net margin 60.8%.
As of Sep '26, AppLovin traded at a price-to-earnings ratio of about 31.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.