AppLovin (APP) Financials

$363.05 -7.58 (-2.05%)

As of 05/20/2025 04:00 PM Eastern

Annual Income Statements for AppLovin

This table shows AppLovin's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Income / (Loss) Attributable to Common Shareholders	1,577	355	-193	32	-125	76
Consolidated Net Income / (Loss)	1,580	357	-193	35	-126	119
Net Income / (Loss) Continuing Operations	1,580	357	-193	35	-126	119
Total Pre-Tax Income	1,576	381	-205	46	-136	126
Total Operating Income	1,873	648	-48	150	-62	194
Total Gross Profit	3,542	2,224	1,561	1,805	896	753
Total Revenue	4,709	3,283	2,817	2,793	1,451	994
Operating Revenue	4,709	3,283	2,817	2,793	1,451	994
Total Cost of Revenue	1,167	1,059	1,256	988	556	241
Operating Cost of Revenue	1,167	1,059	1,256	988	556	241
Total Operating Expenses	1,669	1,576	1,609	1,655	958	558
Selling, General & Admin Expense	181	153	182	159	66	32
Marketing Expense	849	831	920	1,130	628	482
Research & Development Expense	639	592	508	366	181	45
Total Other Income / (Expense), net	-297	-268	-157	-104	-74	-68
Interest Expense	318	276	172	103	78	74
Other Income / (Expense), net	21	8.03	14	-0.54	4.21	5.82
Income Tax Expense	-3.77	24	-12	11	-9.77	7.19
Net Income / (Loss) Attributable to Noncontrolling Interest	2.72	1.77	-0.20	3.64	-0.75	43
Basic Earnings per Share	$4.68	$1.01	($0.52)	$0.10	($0.58)	$0.36
Weighted Average Basic Shares Outstanding	336.92M	351.95M	371.57M	324.84M	214.94M	210.94M
Diluted Earnings per Share	$4.53	$0.98	($0.52)	$0.09	($0.58)	$0.36
Weighted Average Diluted Shares Outstanding	347.81M	362.59M	371.57M	342.76M	214.94M	212.37M
Weighted Average Basic & Diluted Shares Outstanding	339.96M	342.00M	376.40M	375.83M	-	-

This table shows AppLovin's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	576	598	434	310	235	172	108	80	-4.52	-79	24
Consolidated Net Income / (Loss)	576	599	434	310	236	172	109	80	-4.52	-80	24
Net Income / (Loss) Continuing Operations	576	599	434	310	236	172	109	80	-4.52	-80	24
Total Pre-Tax Income	618	515	468	325	268	179	109	96	-3.35	-66	1.61
Total Operating Income	663	608	535	391	340	270	186	131	61	-22	49
Total Gross Profit	1,213	1,052	929	798	764	680	599	492	453	333	412
Total Revenue	1,484	1,373	1,198	1,080	1,058	953	864	750	715	702	713
Operating Revenue	1,484	1,373	1,198	1,080	1,058	953	864	750	715	702	713
Total Cost of Revenue	271	320	270	283	294	274	265	259	262	369	301
Operating Cost of Revenue	271	320	270	283	294	274	265	259	262	369	301
Total Operating Expenses	549	444	394	407	424	410	413	360	392	355	363
Selling, General & Admin Expense	55	60	38	41	42	36	41	30	45	37	44
Marketing Expense	183	215	206	202	227	223	212	192	203	201	197
Research & Development Expense	123	169	150	164	155	151	159	137	145	118	122
Impairment Charge	189	-	-	-	-	-	-	-	-	-	-
Total Other Income / (Expense), net	-45	-93	-67	-66	-72	-91	-77	-36	-64	-44	-48
Interest Expense	53	94	75	75	74	72	79	51	75	55	49
Other Income / (Expense), net	7.81	1.34	7.95	8.95	2.57	-19	1.49	15	10	11	0.97
Income Tax Expense	42	-84	33	15	32	6.66	0.59	15	1.17	13	-22
Net Income / (Loss) Attributable to Noncontrolling Interest	0.14	1.08	0.11	0.08	1.45	0.65	0.80	0.32	0.00	-0.12	0.01
Basic Earnings per Share	$1.70	$1.77	$1.29	$0.92	$0.70	$0.48	$0.32	$0.22	($0.01)	($0.21)	$0.06
Weighted Average Basic Shares Outstanding	339.84M	336.92M	336.93M	335.68M	335.79M	351.95M	341.44M	356.96M	373.16M	371.57M	369.39M
Diluted Earnings per Share	$1.67	$1.72	$1.25	$0.89	$0.67	$0.47	$0.30	$0.22	($0.01)	($0.21)	$0.06
Weighted Average Diluted Shares Outstanding	344.88M	347.81M	348.23M	347.96M	348.60M	362.59M	356.91M	366.34M	373.16M	371.57M	378.46M
Weighted Average Basic & Diluted Shares Outstanding	338.39M	339.96M	335.59M	334.25M	329.01M	342.00M	335.80M	347.80M	364.48M	376.40M	371.69M

This table details how cash moves in and out of AppLovin's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Change in Cash & Equivalents	239	-578	-1,490	2,253	-79	120
Net Cash From Operating Activities	2,099	1,062	413	362	223	198
Net Cash From Continuing Operating Activities	2,099	1,062	413	362	223	198
Net Income / (Loss) Continuing Operations	1,580	357	-193	35	-126	119
Consolidated Net Income / (Loss)	1,580	357	-193	35	-126	119
Depreciation Expense	449	489	547	431	255	93
Amortization Expense	5.46	9.36	13	13	8.15	4.98
Non-Cash Adjustments To Reconcile Net Income	412	413	337	159	154	13
Changes in Operating Assets and Liabilities, net	-347	-207	-291	-277	-69	-31
Net Cash From Investing Activities	-107	-78	-1,371	-1,215	-680	-412
Net Cash From Continuing Investing Activities	-107	-78	-1,371	-1,215	-680	-412
Purchase of Property, Plant & Equipment	-4.78	-4.25	-0.66	-1.39	-3.24	-3.36
Acquisitions	-26	-64	-1,346	-1,211	-675	-404
Sale of Property, Plant & Equipment	0.56	8.25	41	12	0.00	-
Other Investing Activities, net	-77	-18	-66	-15	0.00	0.00
Net Cash From Financing Activities	-1,750	-1,563	-527	3,110	378	333
Net Cash From Continuing Financing Activities	-1,750	-1,563	-527	3,110	378	333
Repayment of Debt	-4,261	-503	-26	-746	-64	-11
Repurchase of Common Equity	-981	-1,154	-339	0.00	-4.51	-0.01
Issuance of Debt	4,615	395	0.00	2,344	481	389
Issuance of Common Equity	42	26	31	1,748	9.32	0.00
Other Financing Activities, net	-1,164	-328	-193	-236	-44	-44
Effect of Exchange Rate Changes	-3.15	0.78	-4.48	-3.20	0.14	0.06
Cash Interest Paid	271	249	166	77	59	62
Cash Income Taxes Paid	67	75	86	91	13	30

This table details how cash moves in and out of AppLovin's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-190	174	107	24	-66	170	-544	-370	165	137	-8.05
Net Cash From Operating Activities	832	701	551	455	393	344	199	230	289	163	174
Net Cash From Continuing Operating Activities	832	701	551	455	393	344	199	230	289	163	174
Net Income / (Loss) Continuing Operations	576	599	434	310	236	172	109	80	-4.52	-80	24
Consolidated Net Income / (Loss)	576	599	434	310	236	172	109	80	-4.52	-80	24
Depreciation Expense	80	128	100	109	113	119	122	120	128	102	164
Non-Cash Adjustments To Reconcile Net Income	250	137	82	99	95	138	111	81	83	179	45
Changes in Operating Assets and Liabilities, net	-75	-168	-65	-63	-51	-95	-142	-52	82	-41	-61
Net Cash From Investing Activities	-23	-0.37	-6.40	-68	-32	-6.80	-16	-42	-13	22	-42
Net Cash From Continuing Investing Activities	-23	-0.37	-6.40	-68	-32	-6.80	-16	-42	-13	22	-42
Purchase of Investments	-19	-	-0.65	-48	-28	-	-0.10	-	-17	-	-
Other Investing Activities, net	-3.99	-66	-2.55	-5.27	-3.30	-16	-2.27	-3.86	3.86	-9.80	-
Net Cash From Financing Activities	-1,002	-523	-441	-361	-425	-171	-724	-557	-111	-55	-136
Net Cash From Continuing Financing Activities	-1,002	-523	-441	-361	-425	-171	-724	-557	-111	-55	-136
Repayment of Debt	-7.44	-3,558	-14	-14	-674	20	-490	-18	-15	-8.33	-8.33
Repurchase of Common Equity	-1,001	-0.63	-228	-	-752	-	-581	-507	-65	-	-95
Issuance of Debt	200	3,543	-	-	1,072	-	395	-	0.00	-	-
Issuance of Common Equity	5.33	13	9.70	-	-	5.91	11	-	-	27	-
Other Financing Activities, net	-199	-520	-208	-366	-70	-197	-59	-40	-32	-74	-33
Effect of Exchange Rate Changes	2.78	-3.66	3.92	-1.06	-2.35	3.00	-2.82	-0.55	1.14	6.90	-4.13
Cash Interest Paid	2.39	50	75	74	71	64	66	52	67	58	46
Cash Income Taxes Paid	5.60	5.51	29	29	3.58	63	5.94	4.99	1.82	27	39

This table presents AppLovin's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Total Assets	5,869	5,359	5,848	6,164	2,155
Total Current Assets	2,312	1,616	1,939	3,235	663
Cash & Equivalents	741	502	1,080	1,521	317
Accounts Receivable	1,414	954	703	515	297
Prepaid Expenses	157	160	156	150	49
Plant, Property, & Equipment, net	161	173	79	64	29
Total Noncurrent Assets	3,397	3,570	3,830	2,865	1,463
Goodwill	1,803	1,843	1,824	966	250
Intangible Assets	897	1,293	1,678	1,709	1,086
Other Noncurrent Operating Assets	696	434	329	189	127
Total Liabilities & Shareholders' Equity	5,869	5,359	5,848	6,164	2,155
Total Liabilities	4,779	4,103	3,945	4,025	2,313
Total Current Liabilities	1,057	944	579	640	598
Short-Term Debt	0.00	215	33	26	15
Accounts Payable	563	372	273	258	147
Accrued Expenses	409	265	148	134	95
Current Deferred Revenue	70	79	64	79	87
Other Current Liabilities	15	14	61	143	254
Total Noncurrent Liabilities	3,722	3,159	3,339	3,377	1,715
Long-Term Debt	3,509	2,906	3,178	3,202	1,584
Other Noncurrent Operating Liabilities	213	253	161	175	131
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,090	1,256	1,903	2,138	-159
Total Preferred & Common Equity	1,090	1,256	1,903	2,138	-159
Preferred Stock	0.00	0.00	0.00	0.00	400
Total Common Equity	1,090	1,256	1,903	2,138	-558
Common Stock	594	2,135	3,156	3,160	454
Retained Earnings	599	-813	-1,170	-977	-1,012
Accumulated Other Comprehensive Income / (Loss)	-103	-65	-83	-45	0.60

This table presents AppLovin's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	5,707	5,869	5,442	5,269	5,263	5,359	5,005	5,482	5,916	5,848	5,805
Total Current Assets	2,367	2,312	1,875	1,660	1,608	1,616	1,301	1,696	2,048	1,939	1,824
Cash & Equivalents	551	741	568	460	436	502	332	876	1,246	1,080	944
Accounts Receivable	1,578	1,414	1,187	1,074	1,035	954	849	670	638	703	665
Prepaid Expenses	238	157	120	125	136	160	119	150	165	156	215
Plant, Property, & Equipment, net	162	161	177	169	173	173	102	115	119	79	71
Total Noncurrent Assets	3,178	3,397	3,390	3,440	3,482	3,570	3,602	3,670	3,749	3,830	3,910
Goodwill	1,640	1,803	1,852	1,822	1,827	1,843	1,814	1,831	1,834	1,824	1,763
Intangible Assets	855	897	1,024	1,102	1,198	1,293	1,387	1,494	1,575	1,678	1,889
Other Noncurrent Operating Assets	683	696	514	516	456	434	402	346	341	329	257
Total Liabilities & Shareholders' Equity	5,707	5,869	5,442	5,269	5,263	5,359	5,005	5,482	5,916	5,848	5,805
Total Liabilities	5,131	4,779	4,504	4,455	4,502	4,103	3,909	3,965	4,017	3,945	3,923
Total Current Liabilities	1,409	1,057	780	730	763	944	805	592	620	579	544
Short-Term Debt	200	0.00	36	36	36	215	215	33	33	33	33
Accounts Payable	595	563	428	388	390	372	281	261	283	273	262
Accrued Expenses	541	409	240	232	256	265	182	159	166	148	137
Current Deferred Revenue	73	70	76	74	80	79	78	74	67	64	91
Total Noncurrent Liabilities	3,722	3,722	3,725	3,725	3,740	3,159	3,092	3,361	3,386	3,339	3,380
Long-Term Debt	3,510	3,509	3,474	3,482	3,490	2,906	2,912	3,167	3,173	3,178	3,184
Other Noncurrent Operating Liabilities	212	213	250	243	250	253	180	194	213	161	196
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	575	1,090	938	815	760	1,256	1,096	1,517	1,899	1,903	1,882
Total Preferred & Common Equity	575	1,090	938	815	760	1,256	1,096	1,517	1,899	1,903	1,882
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	575	1,090	938	815	760	1,256	1,096	1,517	1,899	1,903	1,882
Common Stock	475	594	993	1,172	1,421	2,135	2,175	2,688	3,146	3,156	3,112
Retained Earnings	174	599	0.00	-267	-577	-813	-985	-1,094	-1,174	-1,170	-1,090
Accumulated Other Comprehensive Income / (Loss)	-73	-103	-54	-91	-84	-65	-94	-77	-73	-83	-140

This table displays calculated financial ratios and metrics derived from AppLovin's official financial filings.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Growth Metrics	-	-	-	-	-	-
Revenue Growth	43.44%	16.54%	0.86%	92.48%	45.97%	0.00%
EBITDA Growth	103.39%	119.32%	-11.28%	189.07%	-31.11%	0.00%
EBIT Growth	188.66%	2,069.85%	-122.29%	358.47%	-128.89%	0.00%
NOPAT Growth	209.09%	1,916.15%	-129.22%	363.58%	-123.69%	0.00%
Net Income Growth	342.87%	284.88%	-646.00%	128.06%	-205.79%	0.00%
EPS Growth	362.24%	288.46%	-677.78%	115.52%	-261.11%	0.00%
Operating Cash Flow Growth	97.74%	157.17%	14.07%	62.35%	12.31%	0.00%
Free Cash Flow Firm Growth	138.93%	161.46%	17.53%	-34.11%	0.00%	0.00%
Invested Capital Growth	-0.46%	-4.58%	44.85%	149.48%	0.00%	0.00%
Revenue Q/Q Growth	9.78%	8.28%	-3.13%	11.30%	0.00%	0.00%
EBITDA Q/Q Growth	18.88%	33.36%	-13.95%	16.60%	0.00%	0.00%
EBIT Q/Q Growth	23.37%	66.43%	-189.74%	77.11%	0.00%	0.00%
NOPAT Q/Q Growth	31.57%	120.15%	-244.12%	88.98%	0.00%	0.00%
Net Income Q/Q Growth	37.04%	239.83%	-135.22%	334.93%	0.00%	0.00%
EPS Q/Q Growth	38.11%	226.67%	-147.62%	212.50%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	20.49%	20.53%	23.37%	-4.02%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	30.82%	49.83%	6.71%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-0.60%	-0.70%	-2.29%	1.98%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	75.22%	67.74%	55.41%	64.62%	61.71%	75.73%
EBITDA Margin	49.87%	35.17%	18.69%	21.24%	14.15%	29.97%
Operating Margin	39.78%	19.74%	-1.70%	5.37%	-4.28%	19.55%
EBIT Margin	40.22%	19.99%	-1.18%	5.35%	-3.99%	20.14%
Profit (Net Income) Margin	33.55%	10.87%	-6.85%	1.27%	-8.68%	11.97%
Tax Burden Percent	100.24%	93.73%	94.04%	76.31%	92.80%	94.30%
Interest Burden Percent	83.20%	57.99%	615.89%	30.98%	234.65%	63.06%
Effective Tax Rate	-0.24%	6.27%	0.00%	23.69%	0.00%	5.70%
Return on Invested Capital (ROIC)	48.57%	15.31%	-0.97%	5.83%	-7.73%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	37.50%	4.81%	-12.27%	-2.30%	-20.60%	0.00%
Return on Net Nonoperating Assets (RNNOA)	86.10%	7.27%	-8.57%	-2.26%	166.90%	0.00%
Return on Equity (ROE)	134.67%	22.58%	-9.55%	3.57%	159.17%	0.00%
Cash Return on Invested Capital (CROIC)	49.03%	19.99%	-37.61%	-79.71%	-207.73%	0.00%
Operating Return on Assets (OROA)	33.74%	11.71%	-0.55%	3.59%	-2.68%	0.00%
Return on Assets (ROA)	28.14%	6.37%	-3.21%	0.85%	-5.84%	0.00%
Return on Common Equity (ROCE)	134.67%	22.58%	-9.55%	2.85%	561.44%	0.00%
Return on Equity Simple (ROE_SIMPLE)	144.96%	28.39%	-10.14%	1.65%	79.43%	0.00%
Net Operating Profit after Tax (NOPAT)	1,878	608	-33	114	-43	183
NOPAT Margin	39.88%	18.51%	-1.19%	4.10%	-2.99%	18.44%
Net Nonoperating Expense Percent (NNEP)	11.07%	10.50%	11.30%	8.13%	12.87%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	40.84%	13.88%	-0.65%	-	-	-
Cost of Revenue to Revenue	24.78%	32.26%	44.59%	35.38%	38.29%	24.27%
SG&A Expenses to Revenue	3.85%	4.65%	6.45%	5.68%	4.58%	3.19%
R&D to Revenue	13.56%	18.04%	18.02%	13.12%	12.45%	4.52%
Operating Expenses to Revenue	35.44%	47.99%	57.11%	59.25%	65.99%	56.18%
Earnings before Interest and Taxes (EBIT)	1,894	656	-33	149	-58	200
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,348	1,155	526	593	205	298
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	99.72	10.65	2.06	16.50	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	23.08	4.08	1.39	12.63	1.38	2.01
Price to Earnings (P/E)	68.91	37.70	0.00	1,112.64	0.00	26.19
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.45%	2.65%	0.00%	0.09%	0.00%	3.82%
Enterprise Value to Invested Capital (EV/IC)	28.89	4.13	1.49	12.82	3.28	0.00
Enterprise Value to Revenue (EV/Rev)	23.66	4.87	2.15	12.86	2.54	0.00
Enterprise Value to EBITDA (EV/EBITDA)	47.45	13.86	11.48	60.55	17.94	0.00
Enterprise Value to EBIT (EV/EBIT)	58.83	24.38	0.00	240.37	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	59.34	26.34	0.00	313.89	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	53.09	15.07	14.65	99.30	16.52	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	58.79	20.17	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	3.22	2.48	1.69	1.51	-10.11	0.00
Long-Term Debt to Equity	3.22	2.31	1.67	1.50	-10.01	0.00
Financial Leverage	2.30	1.51	0.70	0.98	-8.10	0.00
Leverage Ratio	4.79	3.55	2.97	4.20	-13.62	0.00
Compound Leverage Factor	3.98	2.06	18.31	1.30	-31.95	0.00
Debt to Total Capital	76.30%	71.30%	62.80%	60.15%	110.98%	0.00%
Short-Term Debt to Total Capital	0.00%	4.91%	0.65%	0.48%	1.06%	0.00%
Long-Term Debt to Total Capital	76.30%	66.39%	62.15%	59.67%	109.93%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	27.73%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%
Common Equity to Total Capital	23.70%	28.70%	37.20%	39.85%	-38.73%	0.00%
Debt to EBITDA	1.49	2.70	6.10	5.44	7.79	0.00
Net Debt to EBITDA	1.18	2.27	4.05	1.11	6.25	0.00
Long-Term Debt to EBITDA	1.49	2.52	6.04	5.40	7.72	0.00
Debt to NOPAT	1.87	5.14	-96.01	28.20	-36.82	0.00
Net Debt to NOPAT	1.47	4.31	-63.71	5.74	-29.52	0.00
Long-Term Debt to NOPAT	1.87	4.78	-95.01	27.97	-36.47	0.00
Altman Z-Score	15.91	2.91	1.06	6.07	0.48	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.01%	20.21%	-252.72%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	2.19	1.71	3.35	5.05	1.11	0.00
Quick Ratio	2.04	1.54	3.08	3.18	1.03	0.00
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,896	793	-1,291	-1,565	-1,167	0.00
Operating Cash Flow to CapEx	49,763.18%	0.00%	0.00%	0.00%	6,876.98%	5,910.13%
Free Cash Flow to Firm to Interest Expense	5.96	2.88	-7.51	-15.17	-14.99	0.00
Operating Cash Flow to Interest Expense	6.60	3.85	2.40	3.51	2.86	2.68
Operating Cash Flow Less CapEx to Interest Expense	6.58	3.87	2.64	3.61	2.82	2.64
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.84	0.59	0.47	0.67	0.67	0.00
Accounts Receivable Turnover	3.98	3.96	4.63	6.88	4.89	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	28.21	26.07	39.63	60.59	50.76	0.00
Accounts Payable Turnover	2.50	3.28	4.73	4.87	3.77	0.00
Days Sales Outstanding (DSO)	91.77	92.09	78.86	53.02	74.70	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	146.26	111.12	77.21	74.89	96.76	0.00
Cash Conversion Cycle (CCC)	-54.49	-19.03	1.65	-21.87	-22.06	0.00
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	3,857	3,875	4,061	2,803	1,124	0.00
Invested Capital Turnover	1.22	0.83	0.82	1.42	2.58	0.00
Increase / (Decrease) in Invested Capital	-18	-186	1,257	1,680	1,124	0.00
Enterprise Value (EV)	111,442	16,000	6,045	35,931	3,682	0.00
Market Capitalization	108,675	13,382	3,914	35,274	2,000	2,000
Book Value per Share	$3.25	$3.74	$5.12	$5.71	($2.60)	$0.00
Tangible Book Value per Share	($4.80)	($5.60)	($4.30)	($1.44)	($8.81)	$0.00
Total Capital	4,599	4,377	5,114	5,366	1,441	0.00
Total Debt	3,509	3,121	3,212	3,228	1,599	0.00
Total Long-Term Debt	3,509	2,906	3,178	3,202	1,584	0.00
Net Debt	2,768	2,619	2,131	657	1,282	0.00
Capital Expenditures (CapEx)	4.22	-4.00	-41	-11	3.24	3.36
Debt-free, Cash-free Net Working Capital (DFCFNWC)	513	385	313	50	-237	0.00
Debt-free Net Working Capital (DFNWC)	1,255	887	1,393	2,621	80	0.00
Net Working Capital (NWC)	1,255	672	1,360	2,595	65	0.00
Net Nonoperating Expense (NNE)	298	251	159	79	83	64
Net Nonoperating Obligations (NNO)	2,768	2,619	2,158	665	1,282	0.00
Total Depreciation and Amortization (D&A)	454	498	560	444	263	98
Debt-free, Cash-free Net Working Capital to Revenue	10.90%	11.72%	11.11%	1.80%	-16.34%	0.00%
Debt-free Net Working Capital to Revenue	26.64%	27.02%	49.46%	93.83%	5.52%	0.00%
Net Working Capital to Revenue	26.64%	20.47%	48.28%	92.91%	4.48%	0.00%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.68	$1.01	($0.52)	$0.10	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	336.92M	351.95M	371.57M	324.84M	0.00	0.00
Adjusted Diluted Earnings per Share	$4.53	$0.98	($0.52)	$0.09	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	347.81M	362.59M	371.57M	342.76M	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	339.96M	342.00M	376.40M	375.83M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	1,311	608	-33	114	-43	183
Normalized NOPAT Margin	27.85%	18.51%	-1.19%	4.10%	-2.99%	18.44%
Pre Tax Income Margin	33.47%	11.59%	-7.28%	1.66%	-9.35%	12.70%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	5.95	2.38	-0.19	1.45	-0.74	2.71
NOPAT to Interest Expense	5.90	2.20	-0.19	1.11	-0.56	2.48
EBIT Less CapEx to Interest Expense	5.94	2.40	0.04	1.55	-0.78	2.66
NOPAT Less CapEx to Interest Expense	5.89	2.22	0.04	1.21	-0.60	2.43
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	62.12%	323.40%	-175.63%	0.00%	-3.58%	0.01%

This table displays calculated financial ratios and metrics derived from AppLovin's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	40.25%	44.01%	38.64%	43.98%	47.90%	35.73%	21.20%	-3.36%	14.39%	-11.49%	-1.91%
EBITDA Growth	65.17%	99.45%	107.53%	90.67%	128.12%	296.90%	42.72%	26.91%	3,083.74%	-47.83%	37.41%
EBIT Growth	96.21%	143.26%	189.06%	172.45%	380.80%	2,287.60%	273.85%	172.47%	156.49%	-119.41%	40.20%
NOPAT Growth	106.62%	172.56%	168.13%	238.25%	600.42%	1,752.90%	-74.42%	264.49%	147.70%	-124.44%	193,296.40%
Net Income Growth	144.06%	247.90%	299.87%	285.74%	5,327.60%	316.61%	359.13%	468.63%	96.08%	-353.17%	16,563.38%
EPS Growth	149.25%	265.96%	316.67%	304.55%	6,800.00%	323.81%	400.00%	466.67%	96.77%	-310.00%	0.00%
Operating Cash Flow Growth	111.75%	103.79%	176.64%	97.80%	36.07%	110.78%	14.09%	115.14%	1,010.06%	91.96%	40.08%
Free Cash Flow Firm Growth	128.75%	62.80%	18.19%	-19.02%	10,084.36%	134.98%	164.30%	125.97%	99.88%	21.19%	75.17%
Invested Capital Growth	-2.99%	-0.46%	-0.56%	0.50%	-0.55%	-4.58%	-6.10%	-7.81%	1.20%	44.85%	51.18%
Revenue Q/Q Growth	8.10%	14.57%	10.94%	2.08%	11.00%	10.30%	15.21%	4.86%	1.87%	-1.51%	-8.13%
EBITDA Q/Q Growth	1.90%	14.73%	26.36%	11.80%	23.15%	19.38%	16.10%	33.76%	114.10%	-57.07%	3.23%
EBIT Q/Q Growth	10.17%	12.24%	35.74%	16.90%	36.59%	33.37%	27.94%	106.29%	721.47%	-122.79%	-6.75%
NOPAT Q/Q Growth	-12.55%	42.32%	33.36%	24.49%	15.35%	40.02%	68.23%	157.78%	372.22%	-102.17%	1,181.91%
Net Income Q/Q Growth	-3.80%	37.93%	40.15%	31.24%	37.13%	58.54%	35.20%	1,878.60%	94.32%	-436.03%	208.55%
EPS Q/Q Growth	-2.91%	37.60%	40.45%	32.84%	42.55%	56.67%	36.36%	2,300.00%	95.24%	-450.00%	200.00%
Operating Cash Flow Q/Q Growth	18.65%	27.29%	21.16%	15.72%	14.18%	72.80%	-13.37%	-20.39%	76.88%	-6.47%	63.36%
Free Cash Flow Firm Q/Q Growth	1.17%	39.76%	46.78%	10.22%	-28.00%	1.47%	0.57%	13,689.04%	99.75%	-86.54%	59.38%
Invested Capital Q/Q Growth	-3.19%	-0.60%	0.22%	0.59%	-0.66%	-0.70%	1.29%	-0.46%	-4.69%	-2.29%	-0.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	81.72%	76.66%	77.50%	73.84%	72.20%	71.30%	69.33%	65.53%	63.38%	47.41%	57.79%
EBITDA Margin	50.62%	53.70%	53.62%	47.08%	42.98%	38.77%	35.82%	35.55%	27.87%	13.26%	30.42%
Operating Margin	44.71%	44.29%	44.64%	36.20%	32.09%	28.27%	21.56%	17.51%	8.53%	-3.19%	6.91%
EBIT Margin	45.23%	44.39%	45.31%	37.03%	32.33%	26.28%	21.73%	19.57%	9.95%	-1.63%	7.04%
Profit (Net Income) Margin	38.84%	43.65%	36.26%	28.70%	22.32%	18.07%	12.57%	10.71%	-0.63%	-11.32%	3.32%
Tax Burden Percent	93.21%	116.32%	92.89%	95.30%	88.15%	96.28%	99.46%	83.88%	134.75%	120.16%	1,470.60%
Interest Burden Percent	92.12%	84.54%	86.15%	81.33%	78.32%	71.42%	58.16%	65.27%	-4.71%	577.92%	3.20%
Effective Tax Rate	6.79%	-16.32%	7.11%	4.70%	11.85%	3.72%	0.54%	16.12%	0.00%	0.00%	-1,370.60%
Return on Invested Capital (ROIC)	56.44%	62.75%	45.71%	35.33%	26.57%	22.52%	16.14%	10.53%	4.51%	-1.83%	85.59%
ROIC Less NNEP Spread (ROIC-NNEP)	55.09%	58.74%	43.54%	33.01%	24.08%	18.87%	13.12%	9.24%	2.02%	-6.36%	38.45%
Return on Net Nonoperating Assets (RNNOA)	257.72%	134.86%	123.06%	76.32%	45.83%	28.53%	22.38%	12.43%	1.95%	-4.44%	29.09%
Return on Equity (ROE)	314.15%	197.61%	168.78%	111.65%	72.40%	51.05%	38.52%	22.97%	6.46%	-6.27%	114.67%
Cash Return on Invested Capital (CROIC)	60.79%	49.03%	37.24%	28.32%	22.55%	19.99%	13.14%	12.04%	1.38%	-37.61%	-40.08%
Operating Return on Assets (OROA)	42.35%	37.23%	37.21%	27.25%	20.98%	15.40%	12.19%	9.88%	4.79%	-0.76%	3.95%
Return on Assets (ROA)	36.37%	36.61%	29.77%	21.12%	14.48%	10.59%	7.05%	5.41%	-0.30%	-5.31%	1.86%
Return on Common Equity (ROCE)	314.15%	197.61%	168.78%	111.65%	72.40%	51.05%	38.52%	22.96%	6.46%	-6.27%	114.67%
Return on Equity Simple (ROE_SIMPLE)	333.67%	0.00%	122.87%	101.50%	78.59%	0.00%	9.58%	1.32%	-4.33%	0.00%	-4.36%
Net Operating Profit after Tax (NOPAT)	618	707	497	373	299	259	185	110	43	-16	725
NOPAT Margin	41.67%	51.52%	41.47%	34.50%	28.29%	27.22%	21.44%	14.68%	5.97%	-2.24%	101.60%
Net Nonoperating Expense Percent (NNEP)	1.35%	4.01%	2.17%	2.32%	2.49%	3.65%	3.02%	1.29%	2.50%	4.52%	47.14%
Return On Investment Capital (ROIC_SIMPLE)	14.43%	15.38%	-	-	-	5.93%	-	-	-	-0.31%	-
Cost of Revenue to Revenue	18.28%	23.34%	22.50%	26.16%	27.80%	28.70%	30.67%	34.47%	36.62%	52.59%	42.21%
SG&A Expenses to Revenue	3.67%	4.39%	3.16%	3.76%	4.01%	3.81%	4.77%	4.05%	6.23%	5.22%	6.17%
R&D to Revenue	8.28%	12.35%	12.52%	15.17%	14.68%	15.82%	18.43%	18.32%	20.25%	16.83%	17.12%
Operating Expenses to Revenue	37.02%	32.37%	32.85%	37.64%	40.11%	43.02%	47.77%	48.02%	54.85%	50.60%	50.88%
Earnings before Interest and Taxes (EBIT)	671	609	543	400	342	250	188	147	71	-11	50
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	751	737	643	508	455	370	310	267	199	93	217
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	156.54	99.72	46.51	33.60	30.58	10.65	12.68	6.18	3.12	2.06	3.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	17.54	23.08	10.17	6.92	6.41	4.08	4.58	3.26	2.04	1.39	2.48
Price to Earnings (P/E)	46.95	68.91	37.93	33.23	39.12	37.70	133.68	474.12	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.13%	1.45%	2.64%	3.01%	2.56%	2.65%	0.75%	0.21%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	24.97	28.89	12.00	7.86	6.84	4.13	4.28	3.04	2.04	1.49	2.29
Enterprise Value to Revenue (EV/Rev)	18.16	23.66	10.86	7.69	7.26	4.87	5.51	4.06	2.71	2.15	3.27
Enterprise Value to EBITDA (EV/EBITDA)	35.33	47.45	23.58	18.53	18.80	13.86	19.28	15.19	11.11	11.48	15.52
Enterprise Value to EBIT (EV/EBIT)	41.93	58.83	30.34	25.79	28.40	24.38	42.33	45.58	48.15	0.00	255.83
Enterprise Value to NOPAT (EV/NOPAT)	42.57	59.34	32.63	27.34	31.01	26.34	60.49	74.47	79.78	0.00	409.14
Enterprise Value to Operating Cash Flow (EV/OCF)	36.74	53.09	26.74	21.89	22.59	15.07	18.95	13.67	10.76	14.65	28.38
Enterprise Value to Free Cash Flow (EV/FCFF)	40.45	58.79	32.14	27.82	30.25	20.17	31.52	24.21	149.04	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.45	3.22	3.74	4.32	4.64	2.48	2.85	2.11	1.69	1.69	1.71
Long-Term Debt to Equity	6.10	3.22	3.70	4.27	4.59	2.31	2.66	2.09	1.67	1.67	1.69
Financial Leverage	4.68	2.30	2.83	2.31	1.90	1.51	1.71	1.35	0.97	0.70	0.76
Leverage Ratio	8.21	4.79	5.14	4.61	4.20	3.55	3.63	3.33	3.09	2.97	2.64
Compound Leverage Factor	7.57	4.05	4.42	3.75	3.29	2.53	2.11	2.18	-0.15	17.18	0.08
Debt to Total Capital	86.57%	76.30%	78.91%	81.19%	82.26%	71.30%	74.05%	67.83%	62.81%	62.80%	63.10%
Short-Term Debt to Total Capital	4.67%	0.00%	0.80%	0.82%	0.83%	4.91%	5.09%	0.71%	0.65%	0.65%	0.65%
Long-Term Debt to Total Capital	81.91%	76.30%	78.11%	80.37%	81.43%	66.39%	68.96%	67.13%	62.15%	62.15%	62.44%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	13.43%	23.70%	21.09%	18.81%	17.74%	28.70%	25.95%	32.17%	37.19%	37.20%	36.90%
Debt to EBITDA	1.41	1.49	1.78	2.14	2.52	2.70	3.61	4.15	4.51	6.10	5.26
Net Debt to EBITDA	1.20	1.18	1.49	1.86	2.21	2.27	3.23	3.02	2.76	4.05	3.72
Long-Term Debt to EBITDA	1.33	1.49	1.76	2.12	2.49	2.52	3.36	4.11	4.47	6.04	5.20
Debt to NOPAT	1.69	1.87	2.46	3.16	4.15	5.14	11.33	20.36	32.43	-96.01	138.62
Net Debt to NOPAT	1.44	1.47	2.06	2.75	3.64	4.31	10.13	14.79	19.82	-63.71	97.97
Long-Term Debt to NOPAT	1.60	1.87	2.43	3.13	4.11	4.78	10.55	20.15	32.09	-95.01	137.18
Altman Z-Score	12.07	15.19	7.17	4.83	4.04	2.66	2.71	2.00	1.43	1.07	1.64
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.68	2.19	2.41	2.28	2.11	1.71	1.61	2.87	3.31	3.35	3.36
Quick Ratio	1.51	2.04	2.25	2.10	1.93	1.54	1.47	2.61	3.04	3.08	2.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	733	725	519	353	321	445	439	436	-3.21	-1,273	-682
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	26,277.41%
Free Cash Flow to Firm to Interest Expense	13.87	7.70	6.90	4.73	4.32	6.22	5.58	8.56	-0.04	-23.27	-14.03
Operating Cash Flow to Interest Expense	15.73	7.44	7.32	6.09	5.29	4.81	2.53	4.51	3.87	2.98	3.59
Operating Cash Flow Less CapEx to Interest Expense	15.73	7.44	7.32	6.09	5.29	4.81	2.53	4.51	3.87	3.75	3.57
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.94	0.84	0.82	0.74	0.65	0.59	0.56	0.50	0.48	0.47	0.56
Accounts Receivable Turnover	3.93	3.98	4.21	4.54	4.33	3.96	4.00	4.23	4.40	4.63	5.39
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	30.69	28.21	30.73	27.80	24.87	26.07	34.95	32.40	31.90	39.63	43.32
Accounts Payable Turnover	2.32	2.50	3.16	3.44	3.24	3.28	4.26	4.38	3.79	4.73	4.90
Days Sales Outstanding (DSO)	92.87	91.77	86.64	80.47	84.21	92.09	91.16	86.20	83.00	78.86	67.67
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	157.20	146.26	115.52	106.09	112.54	111.12	85.74	83.40	96.34	77.21	74.48
Cash Conversion Cycle (CCC)	-64.33	-54.49	-28.88	-25.62	-28.34	-19.03	5.42	2.79	-13.34	1.65	-6.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,734	3,857	3,881	3,872	3,849	3,875	3,902	3,853	3,871	4,061	4,156
Invested Capital Turnover	1.35	1.22	1.10	1.02	0.94	0.83	0.75	0.72	0.76	0.82	0.84
Increase / (Decrease) in Invested Capital	-115	-18	-22	19	-21	-186	-254	-326	46	1,257	1,407
Enterprise Value (EV)	93,238	111,442	46,579	30,438	26,333	16,000	16,693	11,702	7,888	6,045	9,497
Market Capitalization	90,079	108,675	43,636	27,381	23,244	13,382	13,898	9,378	5,928	3,914	7,223
Book Value per Share	$1.69	$3.25	$2.81	$2.48	$2.26	$3.74	$3.15	$4.16	$5.04	$5.12	$5.08
Tangible Book Value per Share	($5.65)	($4.80)	($5.80)	($6.41)	($6.75)	($5.60)	($6.05)	($4.96)	($4.01)	($4.30)	($4.78)
Total Capital	4,285	4,599	4,448	4,333	4,286	4,377	4,223	4,717	5,104	5,114	5,099
Total Debt	3,710	3,509	3,510	3,518	3,525	3,121	3,127	3,200	3,206	3,212	3,218
Total Long-Term Debt	3,510	3,509	3,474	3,482	3,490	2,906	2,912	3,167	3,173	3,178	3,184
Net Debt	3,159	2,768	2,942	3,057	3,089	2,619	2,795	2,324	1,960	2,131	2,274
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-42	0.66
Debt-free, Cash-free Net Working Capital (DFCFNWC)	607	513	564	506	445	385	378	261	216	313	370
Debt-free Net Working Capital (DFNWC)	1,158	1,255	1,131	966	881	887	710	1,138	1,462	1,393	1,314
Net Working Capital (NWC)	958	1,255	1,096	931	845	672	495	1,104	1,429	1,360	1,281
Net Nonoperating Expense (NNE)	42	108	62	63	63	87	77	30	47	64	701
Net Nonoperating Obligations (NNO)	3,159	2,768	2,942	3,057	3,089	2,619	2,807	2,335	1,972	2,158	2,274
Total Depreciation and Amortization (D&A)	80	128	100	109	113	119	122	120	128	105	167
Debt-free, Cash-free Net Working Capital to Revenue	11.82%	10.90%	13.14%	12.79%	12.26%	11.72%	12.46%	9.07%	7.44%	11.11%	12.74%
Debt-free Net Working Capital to Revenue	22.55%	26.64%	26.38%	24.43%	24.30%	27.02%	23.43%	39.49%	50.30%	49.46%	45.18%
Net Working Capital to Revenue	18.66%	26.64%	25.55%	23.53%	23.32%	20.47%	16.34%	38.33%	49.15%	48.28%	44.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.70	$1.77	$1.29	$0.92	$0.70	$0.48	$0.32	$0.22	($0.01)	($0.21)	$0.06
Adjusted Weighted Average Basic Shares Outstanding	339.84M	336.92M	336.93M	335.68M	335.79M	351.95M	341.44M	356.96M	373.16M	371.57M	369.39M
Adjusted Diluted Earnings per Share	$1.67	$1.72	$1.25	$0.89	$0.67	$0.47	$0.30	$0.22	($0.01)	($0.21)	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	344.88M	347.81M	348.23M	347.96M	348.60M	362.59M	356.91M	366.34M	373.16M	371.57M	378.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	338.39M	339.96M	335.59M	334.25M	329.01M	342.00M	335.80M	347.80M	364.48M	376.40M	371.69M
Normalized Net Operating Profit after Tax (NOPAT)	795	426	497	373	299	259	185	110	43	-16	34
Normalized NOPAT Margin	53.54%	31.00%	41.47%	34.50%	28.29%	27.22%	21.44%	14.68%	5.97%	-2.24%	4.84%
Pre Tax Income Margin	41.67%	37.52%	39.03%	30.11%	25.32%	18.77%	12.64%	12.77%	-0.47%	-9.42%	0.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.69	6.47	7.22	5.36	4.61	3.50	2.39	2.88	0.96	-0.21	1.03
NOPAT to Interest Expense	11.69	7.51	6.61	4.99	4.03	3.62	2.36	2.16	0.57	-0.29	14.90
EBIT Less CapEx to Interest Expense	12.69	6.47	7.22	5.36	4.61	3.50	2.39	2.88	0.96	0.56	1.02
NOPAT Less CapEx to Interest Expense	11.69	7.51	6.61	4.99	4.03	3.62	2.36	2.16	0.57	0.48	14.89
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	64.06%	62.12%	85.07%	161.27%	308.15%	323.40%	1,099.02%	3,336.67%	-438.23%	-175.63%	-413.13%

Frequently Asked Questions About AppLovin's Financials

When does AppLovin's financial year end?

According to the most recent income statement we have on file, AppLovin's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has AppLovin's net income changed over the last 5 years?

AppLovin's net income appears to be on an upward trend, with a most recent value of $1.58 billion in 2024, rising from $119.04 million in 2019. The previous period was $356.71 million in 2023. Check out AppLovin's forecast to explore projected trends and price targets.

What is AppLovin's operating income?

AppLovin's total operating income in 2024 was $1.87 billion, based on the following breakdown:

Total Gross Profit: $3.54 billion
Total Operating Expenses: $1.67 billion

How has AppLovin revenue changed over the last 5 years?

Over the last 5 years, AppLovin's total revenue changed from $994.10 million in 2019 to $4.71 billion in 2024, a change of 373.7%.

How much debt does AppLovin have?

AppLovin's total liabilities were at $4.78 billion at the end of 2024, a 16.5% increase from 2023, and a 106.6% increase since 2020.

How much cash does AppLovin have?

In the past 4 years, AppLovin's cash and equivalents has ranged from $317.24 million in 2020 to $1.52 billion in 2021, and is currently $741.41 million as of their latest financial filing in 2024.

How has AppLovin's book value per share changed over the last 5 years?

Over the last 5 years, AppLovin's book value per share changed from 0.00 in 2019 to 3.25 in 2024, a change of 324.8%.

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This page (NASDAQ:APP) was last updated on 5/21/2025 by MarketBeat.com Staff

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AppLovin (APP) Financials

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