AppLovin (APP) EV to EBITDA (2021 - 2026)
AppLovin's (APP) quarterly EV to EBITDA came in at 113.57 in Q2 2026, down 7.37% year-over-year from 122.6 in Q2 2025, and up 24.75% quarter-over-quarter from 91.04 in Q1 2026.
Powered by 
Analysis
AppLovin (APP) EV to EBITDA (2021 - 2026) Analysis & Trends
AppLovin (APP) has reported EV to EBITDA for 6 consecutive years, with 113.57 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to EBITDA fell 7.37% year-over-year to 113.57 in Q2 2026; TTM through Jun 2026 was 32.09, a 19.09% decrease from a year earlier, with the FY2025 full-year figure at 54.31, down 5.16% from the prior year.
- EV to EBITDA was 113.57 for Q2 2026 at AppLovin, up from 91.04 in the prior quarter.
- Over five years, EV to EBITDA peaked at 223.89 in Q3 2025 and troughed at 150.44 in Q1 2022.
- A 5-year average of 85.52 and a median of 85.97 in 2026 frame the typical range for EV to EBITDA.
- Across the five-year window, EV to EBITDA sank 122.03% in 2022 and surged 425.69% in 2024, its largest moves.
- Over 5 years, EV to EBITDA stood at 127.37 in 2022, then surged by 126.01% to 33.13 in 2023, then surged by 425.69% to 174.14 in 2024, then advanced by 1.53% to 176.81 in 2025, then plunged by 35.77% to 113.57 in 2026.
- The last three EV to EBITDA figures came in at 113.57 (Q2 2026), 91.04 (Q1 2026), and 176.81 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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 | 20.66 |
| Jun 30, 2024 | 15.49 |
| Mar 31, 2024 | 14.65 |
| Dec 31, 2023 | 10.34 |
| Sep 30, 2023 | 15.81 |
| Jun 30, 2023 | 11.04 |
| Mar 31, 2023 | 6.69 |
| Dec 31, 2022 | 5.72 |
| Sep 30, 2022 | 10.60 |
| Jun 30, 2022 | 21.81 |
| Mar 31, 2022 | 39.96 |
| Dec 31, 2021 | 58.23 |
| Sep 30, 2021 | 52.02 |
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();