AppLovin (APP) EV to FCF (2021 - 2026)
AppLovin's (APP) quarterly EV to FCF came in at 195.27 in Q2 2026, up 28.44% year-over-year from 152.04 in Q2 2025, and up 92.37% quarter-over-quarter from 101.51 in Q1 2026.
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Analysis
AppLovin (APP) EV to FCF (2021 - 2026) Analysis & Trends
AppLovin (APP) has reported EV to FCF for 6 consecutive years, with 195.27 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to FCF rose 28.44% year-over-year to 195.27 in Q2 2026; TTM through Jun 2026 was 37.48, a 8.84% decrease from a year earlier, with the FY2025 full-year figure at 56.78, down 0.91% from the prior year.
- EV to FCF was 195.27 for Q2 2026 at AppLovin, up from 101.51 in the prior quarter.
- Over five years, EV to FCF peaked at 229.33 in Q3 2025 and troughed at 576.86 in Q1 2022.
- A 5-year average of 60.88 and a median of 84.27 in 2023 frame the typical range for EV to FCF.
- Across the five-year window, EV to FCF plunged 97.07% in 2022 and surged 254.09% in 2024, its largest moves.
- Over 5 years, EV to FCF stood at 31.57 in 2022, then jumped by 47.28% to 46.5 in 2023, then soared by 235.67% to 156.09 in 2024, then gained by 9.96% to 171.63 in 2025, then gained by 13.78% to 195.27 in 2026.
- The last three EV to FCF figures came in at 195.27 (Q2 2026), 101.51 (Q1 2026), and 171.63 (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 | 37.48 |
| Mar 31, 2026 | 29.59 |
| Dec 31, 2025 | 56.78 |
| Sep 30, 2025 | 71.93 |
| Jun 30, 2025 | 41.11 |
| Mar 31, 2025 | 35.11 |
| Dec 31, 2024 | 52.13 |
| Sep 30, 2024 | 24.82 |
| Jun 30, 2024 | 19.68 |
| Mar 31, 2024 | 19.23 |
| Dec 31, 2023 | 12.34 |
| Sep 30, 2023 | 14.93 |
| Jun 30, 2023 | 9.50 |
| Mar 31, 2023 | 6.28 |
| Dec 31, 2022 | 6.93 |
| Sep 30, 2022 | 18.89 |
| Jun 30, 2022 | 41.97 |
| Mar 31, 2022 | 72.18 |
| Dec 31, 2021 | 93.87 |
| Sep 30, 2021 | 69.19 |
API Access
AppLovin EV to FCF 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-fcf&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-fcf", "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-fcf&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();