AppLovin Corporation (APP) P/E Ratio History
UndervaluedTrading at 48.2x vs 5Y avg 179.3x · 46th percentile · Below historical baseline · Data 2021–2026
Loading P/E history...
P/E Ratio Analysis
As of June 22, 2026, AppLovin Corporation (APP) trades at a price-to-earnings ratio of 48.2x, with a stock price of $469.71 and trailing twelve-month earnings per share of $11.70.
The current P/E is 73% below its 5-year average of 179.3x. Over the past five years, APP's P/E has ranged from a low of 34.2x to a high of 1255.1x, placing the current valuation at the 46th percentile of its historical range.
Compared to the Technology sector median P/E of 29.0x, APP trades at a 66% premium to its sector peers. The sector includes 352 companies with P/E ratios ranging from 0.0x to 187.7x.
Relative to the broader market, APP commands a significant premium over the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our APP DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
APP Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
APP P/E vs Peers
Marketing automation and ad technology peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $3B | 18.8 | - | +494%Best | |
| $2B | 45.0 | - | +413% | |
| $2B | 34.4 | 1.89 | -6% | |
| $9B | 20.3 | 1.54 | +17% | |
| $876M | 6.6 | 0.37Best | +39% | |
| $230M | 3.4Lowest | - | +173% | |
| $8B | 14.9 | 0.51 | +18% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
APP Historical P/E Data (2021–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $398.00 | $11.64 | 34.2x | -81% |
| FY2025 Q4 | Dec 31 2025 | $673.82 | $9.75 | 69.1x | -61% |
| FY2025 Q3 | - | $718.54 | $8.24 | 87.2x | -51% |
| FY2025 Q2 | Jun 30 2025 | $350.08 | $7.04 | 49.7x | -72% |
| FY2025 Q1 | Mar 31 2025 | $264.97 | $5.54 | 47.8x | -73% |
| FY2024 Q4 | - | $323.83 | $4.54 | 71.3x | -60% |
| FY2024 Q3 | Sep 30 2024 | $130.55 | $3.30 | 39.6x | -78% |
| FY2024 Q2 | Jun 30 2024 | $83.22 | $2.35 | 35.4x | -80% |
| FY2024 Q1 | Mar 31 2024 | $69.22 | $1.68 | 41.2x | -77% |
| FY2023 Q4 | Dec 31 2023 | $39.85 | $1.00 | 39.9x | -78% |
| FY2023 Q3 | Sep 30 2023 | $39.96 | $0.30 | 134.1x | -25% |
| FY2023 Q2 | Jun 30 2023 | $25.73 | $0.06 | 426.0x | +138% |
| FY2021 Q4 | Dec 31 2021 | $94.26 | $0.08 | 1255.1x | +600% |
Average P/E for displayed period: 179.3x
Full Stock Analysis
Deep dive into APP consensus models and risk factors.
Should I Buy APP?
Wall Street verdict, signals, and target summaries.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
5+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
APP — Frequently Asked Questions
Quick answers to the most common questions about buying APP stock.
What is APP's P/E ratio?
AppLovin Corporation (APP) trailing twelve-month P/E ratio is 48.2x, based on TTM diluted EPS of $11.70. The 5-year average P/E is 179.3x and the historical range spans 34.2x to 1255.1x.
Is APP stock overvalued or undervalued?
APP trades at 48.2x P/E, below its 5-year average of 179.3x. At the 46th percentile of its historical range (34.2x–1255.1x), the stock is priced at a discount to its own history.
Is APP stock expensive?
No, APP is not expensive on a historical basis. The current P/E of 48.2x is below the 5-year average of 179.3x and sits at the 46th percentile of its valuation range.
What is APP's historical P/E range?
Over the past 5 years, APP's P/E ratio has ranged from 34.2x to 1255.1x, with a median of 49.7x and an average of 179.3x. The current P/E of 48.2x places the stock at the 46th percentile of this range. Full historical data spans 2021–2026.
How does APP's P/E compare to the S&P 500?
APP trades at 48.2x P/E versus the S&P 500 median of 24.4x. The 98% premium to the market typically reflects higher expected earnings growth or quality.
How does APP's valuation compare to Technology peers?
AppLovin Corporation P/E of 48.2x compares to the Technology sector median of 29.0x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is APP's PEG ratio?
APP PEG ratio is N/A, based on a P/E of 48.2x and EPS growth of 115.2%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is APP's earnings yield?
APP earnings yield is 2.08%, the inverse of its 48.2x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.