Last 22 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.30 | 34.26 | 27.95 | 51.99 | 73.32 | 36.62 | 39.67 | 46.80 | 26.11 | 23.38 | 25.83 | 20.33 | 33.30 | 29.24 | — | — | 77.96 | — | — | 279.87 | 36185.00 |
| — | -6.4% | -29.5% | +11.1% | +180.8% | +56.7% | +53.6% | +130.2% | -21.6% | -20.0% | — | — | -57.3% | — | — | — | -99.8% | — | — | — | — | |
| P/S Ratio | 16.31 | 22.62 | 18.29 | 34.54 | 43.59 | 23.79 | 19.71 | 20.43 | 13.61 | 10.18 | 5.70 | 3.63 | 4.13 | 3.14 | 2.05 | 1.41 | 2.59 | 4.15 | 8.19 | 10.18 | 9.57 |
| — | -4.9% | -7.2% | +69.0% | +220.4% | +133.7% | +245.8% | +462.6% | +229.8% | +224.1% | +177.6% | +158.4% | +59.5% | -24.3% | -74.9% | -86.2% | -73.0% | -58.3% | — | — | — | |
| P/B Ratio | 42.63 | 55.04 | 57.04 | 107.29 | 166.23 | 102.64 | 158.81 | 102.94 | 48.46 | 35.54 | 31.74 | 11.02 | 13.02 | 6.21 | 3.10 | 2.08 | 3.92 | 6.75 | 10.18 | 15.11 | 13.57 |
| — | -46.4% | -64.1% | +4.2% | +243.1% | +188.8% | +400.3% | +833.9% | +272.3% | +472.1% | +925.4% | +431.1% | +232.1% | -8.0% | -69.6% | -86.3% | -71.1% | -49.3% | — | — | — | |
| P/FCF | 22.68 | 50.08 | 26.10 | 44.54 | 58.14 | 38.78 | 27.47 | 40.28 | 20.76 | 15.93 | 15.36 | 9.88 | 19.21 | 10.42 | 5.09 | 6.10 | 10.70 | 30.44 | — | 96.87 | 56.57 |
| — | +29.1% | -5.0% | +10.6% | +180.1% | +143.5% | +78.8% | +307.6% | +8.1% | +52.8% | +201.7% | +61.9% | +79.5% | -65.8% | — | -93.7% | -81.1% | -59.5% | — | — | — | |
| EV / EBITDA | 20.81 | 28.03 | 23.00 | 43.98 | 55.39 | 30.38 | 25.69 | 39.07 | 19.09 | 16.24 | 15.05 | 10.63 | 13.89 | 11.76 | 10.44 | 19.42 | 11.40 | 18.47 | 5581.91 | 48.97 | 43.47 |
| — | -7.7% | -10.5% | +12.6% | +190.2% | +87.1% | +70.8% | +267.6% | +37.4% | +38.1% | +44.1% | -45.3% | +21.8% | -36.3% | -99.8% | -60.3% | -73.8% | -61.5% | — | — | — | |
| EV / EBIT | 21.79 | 28.03 | 22.86 | 44.09 | 57.55 | 32.64 | 27.89 | 47.18 | 22.30 | 20.40 | 19.89 | 16.49 | 22.79 | 20.12 | 27.77 | — | 48.36 | 70.62 | — | 144.60 | 199.55 |
| — | -14.1% | -18.0% | -6.6% | +158.1% | +60.0% | +40.2% | +186.1% | -2.1% | +1.4% | -28.4% | — | -52.9% | -71.5% | — | — | -75.8% | -65.4% | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.9% | 88.3% | 88.9% | 88.9% | 87.6% | 87.7% | 86.9% | 76.7% | 85.5% | 82.9% | 72.2% | 71.3% | 69.3% | 65.5% | 63.4% | 47.4% | 57.8% | 60.8% | 54.9% | 66.6% | 65.1% |
| — | +0.7% | +2.3% | +16.0% | +2.4% | +5.8% | +20.4% | +7.5% | +23.4% | +26.5% | +13.9% | +50.4% | +20.0% | +7.7% | +15.4% | -28.8% | -11.2% | -3.8% | -12.9% | — | — | |
| Operating Margin | 75.8% | 77.7% | 78.2% | 76.9% | 76.8% | 76.1% | 72.5% | 44.3% | 64.0% | 54.1% | 32.1% | 28.3% | 21.6% | 17.5% | 8.5% | -3.2% | 6.9% | 6.9% | -20.5% | 7.4% | 6.2% |
| — | +2.1% | +7.8% | +73.7% | +20.0% | +40.7% | +125.8% | +56.6% | +196.7% | +208.8% | +276.1% | +985.4% | +212.0% | +154.7% | +141.7% | -143.3% | +11.5% | +31.4% | -1177.9% | — | — | |
| Net Margin | 60.8% | 65.8% | 65.4% | 66.5% | 59.5% | 65.1% | 49.7% | 43.6% | 52.0% | 43.6% | 22.3% | 18.1% | 12.6% | 10.7% | -0.6% | -11.3% | 3.3% | -2.8% | -18.4% | 4.0% | 0.0% |
| — | +1.1% | +31.6% | +52.3% | +14.3% | +49.3% | +122.8% | +141.6% | +313.8% | +307.0% | +3634.6% | +259.6% | +277.1% | +482.3% | +96.6% | -386.4% | +13506.1% | -229.9% | -957.8% | — | — |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 206.8% | 45.8% | 53.6% | 61.1% | 63.3% | 94.1% | 69.2% | 59.1% | 49.6% | 39.4% | 23.4% | 14.6% | 8.3% | 4.7% | -0.2% | -4.2% | 1.3% | -1.1% | -5.6% | 1.5% | 0.0% |
| — | -51.3% | -22.6% | +3.4% | +27.7% | +139.0% | +195.5% | +303.5% | +496.1% | +736.6% | +9954.7% | +448.5% | +562.7% | +524.0% | +95.7% | -380.5% | +14158.0% | -171.9% | — | — | — | |
| ROA | 50.8% | 15.9% | 16.1% | 16.2% | 13.6% | 14.0% | 10.0% | 10.6% | 8.1% | 5.9% | 4.4% | 3.3% | 2.1% | 1.4% | -0.1% | -1.4% | 0.4% | -0.4% | -1.9% | 0.6% | 0.0% |
| — | +12.8% | +61.8% | +53.0% | +67.5% | +138.7% | +123.9% | +218.8% | +291.5% | +317.5% | +5890.6% | +343.6% | +411.4% | +492.2% | +95.9% | -333.4% | +10287.2% | -190.0% | -365.7% | — | — | |
| ROIC | 87.8% | 33.2% | 34.2% | 29.4% | 23.8% | 19.9% | 16.5% | 11.7% | 10.3% | 7.5% | 6.5% | 5.1% | 3.6% | 2.5% | 1.1% | -0.4% | 0.9% | 1.0% | -2.4% | 1.3% | 1.2% |
| — | +67.0% | +107.5% | +150.8% | +130.1% | +166.4% | +152.0% | +128.4% | +190.7% | +197.0% | +474.0% | +1369.4% | +307.7% | +156.1% | +146.6% | -131.2% | -29.1% | -25.0% | -485.0% | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.66 | 1.11 | 1.49 | 1.66 | 2.38 | 3.01 | 6.45 | 3.26 | 3.74 | 4.32 | 4.64 | 2.53 | 2.91 | 2.15 | 1.72 | 1.72 | 1.75 | 1.73 | 1.64 | 1.56 | 0.90 |
| — | -63.1% | -76.9% | -49.1% | -36.3% | -30.3% | +39.0% | +29.0% | +28.6% | +100.6% | +168.9% | +46.7% | +66.7% | +24.6% | +5.1% | +10.7% | +94.8% | +87.2% | — | — | — | |
| Debt / EBITDA | 0.82 | 2.26 | 2.38 | 2.71 | 3.15 | 3.49 | 4.03 | 4.83 | 5.54 | 7.14 | 7.80 | 8.18 | 10.35 | 13.00 | 17.30 | 41.44 | 15.42 | 15.98 | 3294.70 | 19.12 | 11.16 |
| — | -35.4% | -40.9% | -43.9% | -43.1% | -51.0% | -48.3% | -40.9% | -46.5% | -45.1% | -54.9% | -80.3% | -32.9% | -18.7% | -99.5% | +116.7% | +38.1% | +23.3% | +14622.0% | — | — | |
| Current Ratio | 3.32 | 4.30 | 3.24 | 3.32 | 3.25 | 2.74 | 1.68 | 2.19 | 2.41 | 2.28 | 2.11 | 1.71 | 1.61 | 2.87 | 3.31 | 3.35 | 3.36 | 2.82 | 2.93 | 5.05 | 2.85 |
| — | +57.2% | +93.1% | +51.9% | +35.1% | +20.2% | -20.3% | +27.7% | +49.0% | -20.6% | -36.2% | -48.9% | -51.9% | +1.6% | +12.9% | -33.7% | +17.6% | -0.9% | +20.2% | — | — | |
| Quick Ratio | 3.32 | 4.30 | 3.24 | 3.32 | 3.25 | 2.74 | 1.68 | 2.19 | 2.41 | 2.28 | 2.11 | 1.71 | 1.61 | 2.87 | 3.31 | 3.35 | 3.36 | 2.82 | 2.93 | 5.05 | 2.85 |
| — | +57.2% | +93.1% | +51.9% | +35.1% | +20.2% | -20.3% | +27.7% | +49.0% | -20.6% | -36.2% | -48.9% | -51.9% | +1.6% | +12.9% | -33.7% | +17.6% | -0.9% | +20.2% | — | — | |
| Interest Coverage | 20.09 | 30.43 | 28.98 | 25.44 | 20.85 | 18.20 | 16.02 | 6.47 | 7.24 | 5.27 | 4.61 | 3.72 | 2.39 | 2.88 | 0.95 | -0.21 | 1.03 | 1.48 | -3.94 | 1.94 | 1.91 |
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Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying APP stock.
AppLovin Corporation's current P/E is 27.3x. The average P/E over the last 4 quarters is 46.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
AppLovin Corporation's current operating margin is 75.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking AppLovin Corporation's business trajectory between earnings reports.