Comprehensive Stock Comparison
Compare Ibotta, Inc. (IBTA) 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 | APP | 16.4% revenue growth vs IBTA's -6.8% |
| Value | APP | Lower P/E (28.0x vs 208.1x) |
| Quality / Margins | APP | 60.8% net margin vs IBTA's 4.7% |
| Stability / Safety | IBTA | Beta 0.88 vs APP's 2.17, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | APP | +33.5% vs IBTA's -25.2% |
| Efficiency (ROA) | APP | 45.9% ROA vs IBTA's 3.1%, ROIC 87.8% vs -0.5% |
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
Ibotta operates a digital promotions platform that connects consumer packaged goods brands with shoppers through cash-back offers. It makes money primarily from performance-based marketing fees paid by brands—typically a percentage of sales driven through its network—with additional revenue from data analytics services. The company's moat lies in its extensive network of retail partners and proprietary shopper data, creating a two-sided marketplace that's difficult for competitors to replicate.
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
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
APP leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). IBTA leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
APP is the larger business by revenue, generating $5.5B annually — 16.0x IBTA's $342M. APP is the more profitable business, keeping 60.8% of every revenue dollar as net income compared to IBTA's 4.7%. On growth, APP holds the edge at -2.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| RevenueTrailing 12 months | $342M | $5.5B |
| EBITDAEarnings before interest/tax | $3M | $4.3B |
| Net IncomeAfter-tax profit | $16M | $3.3B |
| Free Cash FlowCash after capex | $72M | $4.0B |
| Gross MarginGross profit ÷ Revenue | +79.2% | +87.9% |
| Operating MarginEBIT ÷ Revenue | -0.2% | +75.8% |
| Net MarginNet income ÷ Revenue | +4.7% | +60.8% |
| FCF MarginFCF ÷ Revenue | +20.9% | +72.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | -10.0% | -2.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -101.3% | +87.3% |
Valuation Metrics
At 44.6x trailing earnings, APP trades at a 79% valuation discount to IBTA's 208.1x P/E. On an enterprise value basis, APP's 31.0x EV/EBITDA is more attractive than IBTA's 210.5x.
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| Market CapShares × price | $808M | $133.9B |
| Enterprise ValueMkt cap + debt − cash | $647M | $134.9B |
| Trailing P/EPrice ÷ TTM EPS | 208.08x | 44.59x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 28.00x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 210.47x | 31.05x |
| Price / SalesMarket cap ÷ Revenue | 2.36x | 24.43x |
| Price / BookPrice ÷ Book value/share | 2.61x | 69.65x |
| Price / FCFMarket cap ÷ FCF | 10.77x | 33.72x |
Profitability & Efficiency
APP delivers a 156.2% return on equity — every $100 of shareholder capital generates $156 in annual profit, vs $6 for IBTA. IBTA 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 IBTA's 5/9, reflecting strong financial health.
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| ROE (TTM)Return on equity | +5.6% | +156.2% |
| ROA (TTM)Return on assets | +3.1% | +45.9% |
| ROICReturn on invested capital | -0.5% | +87.8% |
| ROCEReturn on capital employed | -0.2% | +77.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.09x | 1.66x |
| Net DebtTotal debt minus cash | -$161M | $1.1B |
| Cash & Equiv.Liquid assets | $187M | $2.5B |
| Total DebtShort + long-term debt | $26M | $3.5B |
| Interest CoverageEBIT ÷ Interest expense | — | 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 $2,419 for IBTA. Over the past 12 months, APP leads with a +33.5% total return vs IBTA's -25.2%. The 3-year compound annual growth rate (CAGR) favors APP at 2.2% vs IBTA's -37.7% — a key indicator of consistent wealth creation.
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| YTD ReturnYear-to-date | +9.0% | -29.7% |
| 1-Year ReturnPast 12 months | -25.2% | +33.5% |
| 3-Year ReturnCumulative with dividends | -75.8% | +3120.5% |
| 5-Year ReturnCumulative with dividends | -75.8% | +566.8% |
| 10-Year ReturnCumulative with dividends | -75.7% | +566.8% |
| CAGR (3Y)Annualised 3-year return | -37.7% | +2.2% |
Risk & Volatility
IBTA is the less volatile stock with a 0.88 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 IBTA's 39.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.88x | 2.17x |
| 52-Week HighHighest price in past year | $62.74 | $745.61 |
| 52-Week LowLowest price in past year | $19.10 | $200.50 |
| % of 52W HighCurrent price vs 52-week peak | +39.8% | +58.3% |
| RSI (14)Momentum oscillator 0–100 | 68.4 | 47.7 |
| Avg Volume (50D)Average daily shares traded | 236K | 5.2M |
Analyst Outlook
Wall Street rates IBTA as "Buy" and APP as "Buy". Consensus price targets imply 58.9% upside for APP (target: $691) vs 4.1% for IBTA (target: $26).
| Metric | IBTAIbotta, Inc. | APPAppLovin Corporat… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $26.00 | $690.93 |
| # AnalystsCovering analysts | 9 | 26 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 24 | Feb 26 | Change |
|---|---|---|---|
| Ibotta, Inc. (IBTA) | 100 | 20.63 | -79.4% |
| AppLovin Corporation (APP) | 100 | 692.57 | +592.6% |
AppLovin Corporation (APP) returned +567% over 5 years vs Ibotta, Inc. (IBTA)'s -76%. 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 |
|---|---|---|---|
| Ibotta, Inc. (IBTA) | $211M | $342M | +62.5% |
| 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 |
|---|---|---|---|
| Ibotta, Inc. (IBTA) | -26.0% | 4.7% | +118.1% |
| 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 |
|---|---|---|---|
| Ibotta, Inc. (IBTA) | -1.81 | 0.12 | +106.6% |
| 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
Ibotta, Inc. generated $75M FCF in 2025 (+216% vs 2022). AppLovin Corporation generated $4B FCF in 2025 (+1002% vs 2021).
IBTA vs APP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is IBTA 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 Ibotta, Inc. (IBTA) a "Buy" — based on 9 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 — IBTA or APP?
On trailing P/E, AppLovin Corporation (APP) is the cheapest at 44.6x versus Ibotta, Inc. at 208.1x.
03Which is the better long-term investment — IBTA or APP?
Over the past 5 years, AppLovin Corporation (APP) delivered a total return of +566.8%, compared to -75.8% for Ibotta, Inc. (IBTA). 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 IBTA's -75.7%. 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 — IBTA or APP?
By beta (market sensitivity over 5 years), Ibotta, Inc. (IBTA) is the lower-risk stock at 0.88β versus AppLovin Corporation's 2.17β — meaning APP is approximately 147% more volatile than IBTA relative to the S&P 500. On balance sheet safety, Ibotta, Inc. (IBTA) 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 — IBTA or APP?
AppLovin Corporation (APP) is the more profitable company, earning 60.8% net margin versus 4.7% for Ibotta, 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 -0.2% for IBTA. 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 IBTA or APP more undervalued right now?
Analyst consensus price targets imply the most upside for APP: 58.9% to $690.93.
07Which pays a better dividend — IBTA 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 IBTA or APP better for a retirement portfolio?
For long-horizon retirement investors, Ibotta, Inc. (IBTA) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.88)). AppLovin Corporation (APP) carries a higher beta of 2.17 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (IBTA: -75.7%, APP: +566.8%), 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 IBTA 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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