AppLovin (APP) EV to EBITDA (2021 - 2026)
AppLovin's EV to EBITDA came in at 31.30 for Q2 2026, down 11.6% from 35.42 a year earlier but up 17.0% from the prior quarter.
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Analysis
AppLovin (APP) EV to EBITDA (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, AppLovin reported EV to EBITDA of 30.02, down 13.9% 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 (+348.5%), 10.34 in FY2023 (+80.7%), 5.72 in FY2022 (-90.2%) and 58.23 in FY2021.
- The five-year range for quarterly EV to EBITDA is 5.72 (Q4 2022) to 63.66 (Q3 2025).
- Year-over-year, EV to EBITDA increased in six of the last eight quarters, with growth averaging 102.6%.
- The fastest year-over-year change in EV to EBITDA over five years came in Q4 2024 (growth of 353.2%), and the weakest in Q4 2022 (a decline of 90.2%).
- Business Quant data shows APP's EV to EBITDA at 26.75 (Q1 2026), 51.87 (Q4 2025) and 63.66 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,056.92 Bn | 3,814.44 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,810.97 Bn | 1,513.49 Bn | 49.47 Bn |
| 3 | Netflix | 274.15 Bn | 234.34 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 243.05 Bn | 56.82 Bn | 15.11 Bn |
| 5 | Shopify | 230.06 Bn | 207.24 Bn | 1.71 Bn |
| 6 | Uber Technologies | 139.17 Bn | 110.97 Bn | 6.38 Bn |
| 7 | Booking Holdings | 121.90 Bn | 54.95 Bn | - |
| 8 | PDD Holdings | 110.14 Bn | -133.63 Bn | 9.45 Bn |
| 9 | Spotify Technology | 108.32 Bn | 65.82 Bn | 1.86 Bn |
| 10 | AppLovin | 91.08 Bn | 81.11 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 | 20.67 |
| 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 |
| Sep 30, 2021 | 50.86 |
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();