AppLovin (APP) EV to FCF (2021 - 2026)
AppLovin's (APP) EV to FCF stood at 37.48 in Q2 2026, down 8.8% from 41.11 a year earlier but up 26.7% from the prior quarter.
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Analysis
AppLovin (APP) EV to FCF (2021 - 2026) Analysis & Trends
On a TTM basis, AppLovin's EV to FCF came in at 35.95 as of Jun 30, 2026, down 11.2% year-over-year; for FY2025, it came in at 56.78, up 8.7% from FY2024.
- Annual EV to FCF has increased for three straight years.
- Across earlier years, EV to FCF came in at 52.25 in FY2024 (+323.5%), 12.34 in FY2023 (+78.0%), 6.93 in FY2022 (-92.6%) and 93.87 in FY2021.
- Quarterly EV to FCF has ranged from 6.28 in Q1 2023 to 93.87 in Q4 2021 over the past five years.
- On a year-over-year basis, EV to FCF rose in six of the last eight quarters, with growth averaging 94.3%.
- Peak year-over-year performance for EV to FCF in the last five years was growth of 322.6% in Q4 2024, against a decline of 92.6% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 29.59 (Q1 2026), 56.78 (Q4 2025) and 71.93 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Alphabet | 4,071.44 Bn | 3,828.96 Bn | 73.85 Bn |
| 2 | Meta Platforms | 1,777.07 Bn | 1,479.59 Bn | 49.47 Bn |
| 3 | Netflix | 272.74 Bn | 232.94 Bn | 6.52 Bn |
| 4 | Alibaba Group Holding | 242.17 Bn | 55.95 Bn | 15.11 Bn |
| 5 | Shopify | 225.98 Bn | 203.16 Bn | 1.71 Bn |
| 6 | Uber Technologies | 137.80 Bn | 109.60 Bn | 6.38 Bn |
| 7 | Booking Holdings | 121.57 Bn | 54.62 Bn | - |
| 8 | PDD Holdings | 110.14 Bn | -133.64 Bn | 9.45 Bn |
| 9 | Spotify Technology | 107.49 Bn | 64.99 Bn | 1.86 Bn |
| 10 | AppLovin | 90.01 Bn | 80.05 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();