Comprehensive Stock Comparison
Compare Viant Technology Inc. (DSP) vs AppLovin Corporation (APP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | DSP | 29.7% revenue growth vs APP's 16.4% |
| Value | APP | Lower P/E (28.0x vs 32.3x) |
| Quality / Margins | APP | 60.8% net margin vs DSP's 1.9% |
| Stability / Safety | DSP | Beta 1.65 vs APP's 2.17, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | APP | +33.5% vs DSP's -49.3% |
| Efficiency (ROA) | APP | 45.9% ROA vs DSP's 1.5%, ROIC 87.8% vs 2.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Viant Technology operates an enterprise advertising software platform that helps marketers plan, buy, and measure campaigns across digital channels — including connected TV, mobile, and streaming audio. It generates revenue primarily through its Adelphic software platform fees and its demand-side platform services, with connected TV representing a significant growth segment. The company's key advantage is its proprietary identity graph and household-level targeting technology, which enables privacy-conscious audience targeting as third-party cookies phase out.
AppLovin operates a software platform that helps mobile app developers market and monetize their apps through advertising technology. It generates revenue primarily from its software platform segment — which includes marketing solutions like AppDiscovery and analytics tools like Adjust — accounting for roughly 80% of total revenue, with the remainder coming from its apps segment. The company's key advantage is its AI-powered advertising engine that optimizes ad placements across its vast network of mobile apps, creating a data-driven flywheel effect.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
APP leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). DSP leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
APP is the larger business by revenue, generating $5.5B annually — 16.9x DSP's $324M. APP is the more profitable business, keeping 60.8% of every revenue dollar as net income compared to DSP's 1.9%. On growth, DSP holds the edge at +7.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| RevenueTrailing 12 months | $324M | $5.5B |
| EBITDAEarnings before interest/tax | $23M | $4.3B |
| Net IncomeAfter-tax profit | $6M | $3.3B |
| Free Cash FlowCash after capex | $27M | $4.0B |
| Gross MarginGross profit ÷ Revenue | +45.9% | +87.9% |
| Operating MarginEBIT ÷ Revenue | +1.6% | +75.8% |
| Net MarginNet income ÷ Revenue | +1.9% | +60.8% |
| FCF MarginFCF ÷ Revenue | +8.3% | +72.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.1% | -2.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -81.3% | +87.3% |
Valuation Metrics
At 44.6x trailing earnings, APP trades at a 47% valuation discount to DSP's 84.4x P/E. On an enterprise value basis, DSP's 14.3x EV/EBITDA is more attractive than APP's 31.0x.
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| Market CapShares × price | $463M | $133.9B |
| Enterprise ValueMkt cap + debt − cash | $284M | $134.9B |
| Trailing P/EPrice ÷ TTM EPS | 84.42x | 44.59x |
| Forward P/EPrice ÷ next-FY EPS est. | 32.28x | 28.00x |
| PEG RatioP/E ÷ EPS growth rate | 11.07x | — |
| EV / EBITDAEnterprise value multiple | 14.27x | 31.05x |
| Price / SalesMarket cap ÷ Revenue | 1.60x | 24.43x |
| Price / BookPrice ÷ Book value/share | 0.76x | 69.65x |
| Price / FCFMarket cap ÷ FCF | 9.41x | 33.72x |
Profitability & Efficiency
APP delivers a 156.2% return on equity — every $100 of shareholder capital generates $156 in annual profit, vs $2 for DSP. DSP carries lower financial leverage with a 0.09x debt-to-equity ratio, signaling a more conservative balance sheet compared to APP's 1.66x. On the Piotroski fundamental quality scale (0–9), APP scores 8/9 vs DSP's 6/9, reflecting strong financial health.
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| ROE (TTM)Return on equity | +2.3% | +156.2% |
| ROA (TTM)Return on assets | +1.5% | +45.9% |
| ROICReturn on invested capital | +2.9% | +87.8% |
| ROCEReturn on capital employed | +1.2% | +77.3% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 8 |
| Debt / EquityFinancial leverage | 0.09x | 1.66x |
| Net DebtTotal debt minus cash | -$179M | $1.1B |
| Cash & Equiv.Liquid assets | $205M | $2.5B |
| Total DebtShort + long-term debt | $26M | $3.5B |
| Interest CoverageEBIT ÷ Interest expense | 8.70x | 20.06x |
Total Returns (with DRIP)
A $10,000 investment in APP five years ago would be worth $66,683 today (with dividends reinvested), compared to $1,921 for DSP. Over the past 12 months, APP leads with a +33.5% total return vs DSP's -49.3%. The 3-year compound annual growth rate (CAGR) favors APP at 2.2% vs DSP's 37.1% — a key indicator of consistent wealth creation.
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| YTD ReturnYear-to-date | -12.7% | -29.7% |
| 1-Year ReturnPast 12 months | -49.3% | +33.5% |
| 3-Year ReturnCumulative with dividends | +157.8% | +3120.5% |
| 5-Year ReturnCumulative with dividends | -80.8% | +566.8% |
| 10-Year ReturnCumulative with dividends | -78.8% | +566.8% |
| CAGR (3Y)Annualised 3-year return | +37.1% | +2.2% |
Risk & Volatility
DSP is the less volatile stock with a 1.65 beta — it tends to amplify market swings less than APP's 2.17 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. APP currently trades 58.3% from its 52-week high vs DSP's 48.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.65x | 2.17x |
| 52-Week HighHighest price in past year | $21.03 | $745.61 |
| 52-Week LowLowest price in past year | $8.11 | $200.50 |
| % of 52W HighCurrent price vs 52-week peak | +48.2% | +58.3% |
| RSI (14)Momentum oscillator 0–100 | 42.9 | 47.7 |
| Avg Volume (50D)Average daily shares traded | 162K | 5.2M |
Analyst Outlook
Wall Street rates DSP as "Buy" and APP as "Buy". Consensus price targets imply 58.9% upside for APP (target: $691) vs 49.8% for DSP (target: $15).
| Metric | DSPViant Technology … | APPAppLovin Corporat… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $15.17 | $690.93 |
| # AnalystsCovering analysts | 13 | 26 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +7.0% | +1.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | May 21 | Feb 26 | Change |
|---|---|---|---|
| Viant Technology In… (DSP) | 100 | 36.35 | -63.6% |
| AppLovin Corporation (APP) | 92.12 | 740.8 | +704.2% |
AppLovin Corporation (APP) returned +567% over 5 years vs Viant Technology In… (DSP)'s -81%. A $10,000 investment in APP 5 years ago would be worth $66,683 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Viant Technology In… (DSP) | $108M | $289M | +166.9% |
| AppLovin Corporation (APP) | $483M | $5.5B | +1033.9% |
AppLovin Corporation's revenue grew from $483M (2018) to $5.5B (2025) — a 41.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Viant Technology In… (DSP) | -23.6% | 0.8% | +103.5% |
| AppLovin Corporation (APP) | -53.8% | 60.8% | +213.1% |
AppLovin Corporation's net margin went from -54% (2018) to 61% (2025).
Chart 4P/E Ratio History — 3 Years
| Stock | 2023 | 2025 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | 40.7 | 69.1 | +69.8% |
AppLovin Corporation has traded in a 41x–72x P/E range over 3 years; current trailing P/E is ~45x.
Chart 5EPS Growth — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Viant Technology In… (DSP) | -0.43 | 0.12 | +127.9% |
| AppLovin Corporation (APP) | -1.37 | 9.75 | +811.7% |
AppLovin Corporation's EPS grew from $-1.37 (2018) to $9.75 (2025).
Chart 6Free Cash Flow — 5 Years
Viant Technology Inc. generated $49M FCF in 2024 (+131% vs 2021). AppLovin Corporation generated $4B FCF in 2025 (+1002% vs 2021).
DSP vs APP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is DSP or APP a better buy right now?
AppLovin Corporation (APP) offers the better valuation at 44.6x trailing P/E (28.0x forward), making it the more compelling value choice. Analysts rate Viant Technology Inc. (DSP) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — DSP or APP?
On trailing P/E, AppLovin Corporation (APP) is the cheapest at 44.6x versus Viant Technology Inc. at 84.4x. On forward P/E, AppLovin Corporation is actually cheaper at 28.0x.
03Which is the better long-term investment — DSP or APP?
Over the past 5 years, AppLovin Corporation (APP) delivered a total return of +566.8%, compared to -80.8% for Viant Technology Inc. (DSP). A $10,000 investment in APP five years ago would be worth approximately $67K today (assuming dividends reinvested). Over 10 years, the gap is even starker: APP returned +566.8% versus DSP's -78.8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — DSP or APP?
By beta (market sensitivity over 5 years), Viant Technology Inc. (DSP) is the lower-risk stock at 1.65β versus AppLovin Corporation's 2.17β — meaning APP is approximately 31% more volatile than DSP relative to the S&P 500. On balance sheet safety, Viant Technology Inc. (DSP) carries a lower debt/equity ratio of 9% versus 166% for AppLovin Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — DSP or APP?
AppLovin Corporation (APP) is the more profitable company, earning 60.8% net margin versus 0.8% for Viant Technology Inc. — meaning it keeps 60.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: APP leads at 75.8% versus 1.2% for DSP. At the gross margin level — before operating expenses — APP leads at 87.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is DSP or APP more undervalued right now?
On forward earnings alone, AppLovin Corporation (APP) trades at 28.0x forward P/E versus 32.3x for Viant Technology Inc. — 4.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for APP: 58.9% to $690.93.
07Which pays a better dividend — DSP or APP?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is DSP or APP better for a retirement portfolio?
For long-horizon retirement investors, AppLovin Corporation (APP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+566.8% 10Y return). Viant Technology Inc. (DSP) carries a higher beta of 1.65 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (APP: +566.8%, DSP: -78.8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between DSP and APP?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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