AppLovin (APP) EV to EBITDA (2021 - 2026)
AppLovin's EV to EBITDA came in at 15.38 for Q3 2026, down 75.8% from 63.66 a year earlier and down 50.9% from the prior quarter.
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Analysis
AppLovin (APP) EV to EBITDA (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, AppLovin reported EV to EBITDA of 14.01, down 77.8% year-over-year; for FY2025, it came in at 51.87, up 11.9% from FY2024.
- EV to EBITDA has increased in each of the last three years.
- Going back by year, EV to EBITDA was 46.37 in FY2024 (+351.8%), 10.26 in FY2023 (+84.0%), 5.58 in FY2022 (-90.2%) and 56.97 in FY2021.
- The Q3 2026 figure represents the lowest quarterly EV to EBITDA since Q1 2024.
- Year-over-year, EV to EBITDA has declined for three consecutive quarters, with growth averaging 89.9% over the last eight quarters.
- The fastest year-over-year change in EV to EBITDA over five years came in Q4 2024 (growth of 356.5%), and the weakest in Q4 2022 (a decline of 90.2%).
- Business Quant data shows APP's EV to EBITDA at 31.30 (Q2 2026), 26.75 (Q1 2026) and 51.87 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 3,555.16 Bn | 3,290.06 Bn | 76.16 Bn |
| 2 | Meta Platforms | 1,645.02 Bn | 1,309.54 Bn | 51.23 Bn |
| 3 | Netflix | 259.98 Bn | 221.27 Bn | 6.80 Bn |
| 4 | Alibaba Group Holding | 242.36 Bn | 241.21 Bn | - |
| 5 | Shopify | 192.37 Bn | 171.18 Bn | 1.78 Bn |
| 6 | Uber Technologies | 142.90 Bn | 113.72 Bn | 6.42 Bn |
| 7 | AppLovin | 130.75 Bn | 119.27 Bn | 1.94 Bn |
| 8 | Spotify Technology | 122.74 Bn | 105.49 Bn | - |
| 9 | Booking Holdings | 122.04 Bn | 55.79 Bn | - |
| 10 | PDD Holdings | 111.67 Bn | 111.67 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 15.38 |
| Jun 30, 2026 | 31.30 |
| Mar 31, 2026 | 26.75 |
| Dec 31, 2025 | 51.87 |
| Sep 30, 2025 | 63.66 |
| Jun 30, 2025 | 35.42 |
| Mar 31, 2025 | 31.79 |
| Dec 31, 2024 | 46.85 |
| Sep 30, 2024 | 20.67 |
| Jun 30, 2024 | 15.46 |
| Mar 31, 2024 | 14.59 |
| Dec 31, 2023 | 10.26 |
| Sep 30, 2023 | 15.57 |
| Jun 30, 2023 | 10.86 |
| Mar 31, 2023 | 6.57 |
| Dec 31, 2022 | 5.58 |
| Sep 30, 2022 | 10.36 |
| Jun 30, 2022 | 21.29 |
| Mar 31, 2022 | 39.01 |
| Dec 31, 2021 | 56.97 |
API Access
AppLovin EV to EBITDA API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-ebitda", "ticker": "APP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-ebitda&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();