AppLovin (APP) Free Cash Flow (2020 - 2026)
AppLovin (APP) reported Free Cash Flow of $1.43 billion for Q3 2026, up 35.6% from $1.05 billion a year earlier and up 64.4% from the prior quarter.
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Analysis
AppLovin (APP) Free Cash Flow (2020 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, AppLovin's Free Cash Flow came in at $4.9 billion, up 46.0% year-over-year; for FY2025, it was $3.97 billion, up 89.6% from FY2024.
- Free Cash Flow has increased for six consecutive years, with a five-year compound annual growth rate of 78.4% (FY2020 to FY2025).
- By year, Free Cash Flow came in at $2.09 billion in FY2024 (+98.1%), $1.06 billion in FY2023 (+156.5%), $412.11 million in FY2022 (+14.3%) and $360.46 million in FY2021 (+64.1%).
- The Q3 2026 figure ranks as the highest quarterly Free Cash Flow in data going back to Q1 2020.
- Year over year, Free Cash Flow has now increased in each of the last 14 quarters, with growth averaging 71.0% over the last eight quarters.
- The high point for year-over-year Free Cash Flow in five years was Q3 2024 (growth of 176.9%); the low point was Q4 2021 (a decline of 15.2%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $869.04 million (Q2 2026), $1.29 billion (Q1 2026) and $1.31 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,555.16 Bn | 3,290.06 Bn | 76.16 Bn | -9.07 Bn |
| 2 | Meta Platforms | 1,645.02 Bn | 1,309.54 Bn | 51.23 Bn | -1.16 Bn |
| 3 | Netflix | 259.98 Bn | 221.27 Bn | 6.80 Bn | 2.88 Bn |
| 4 | Alibaba Group Holding | 242.36 Bn | 241.21 Bn | - | - |
| 5 | Shopify | 192.37 Bn | 171.18 Bn | 1.78 Bn | 816.00 Mn |
| 6 | Uber Technologies | 142.90 Bn | 113.72 Bn | 6.42 Bn | 2.54 Bn |
| 7 | AppLovin | 130.75 Bn | 119.27 Bn | 1.94 Bn | 1.43 Bn |
| 8 | Spotify Technology | 122.74 Bn | 105.49 Bn | - | - |
| 9 | Booking Holdings | 122.04 Bn | 55.79 Bn | - | 1.07 Bn |
| 10 | PDD Holdings | 111.67 Bn | 111.67 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 1.43 Bn |
| Jun 30, 2026 | 869.04 Mn |
| Mar 31, 2026 | 1.29 Bn |
| Dec 31, 2025 | 1.31 Bn |
| Sep 30, 2025 | 1.05 Bn |
| Jun 30, 2025 | 772.23 Mn |
| Mar 31, 2025 | 831.71 Mn |
| Dec 31, 2024 | 701.00 Mn |
| Sep 30, 2024 | 550.70 Mn |
| Jun 30, 2024 | 454.53 Mn |
| Mar 31, 2024 | 392.78 Mn |
| Dec 31, 2023 | 343.74 Mn |
| Sep 30, 2023 | 198.88 Mn |
| Jun 30, 2023 | 226.05 Mn |
| Mar 31, 2023 | 288.59 Mn |
| Dec 31, 2022 | 163.16 Mn |
| Sep 30, 2022 | 174.26 Mn |
| Jun 30, 2022 | 106.70 Mn |
| Mar 31, 2022 | -32.00 Mn |
| Dec 31, 2021 | 84.59 Mn |
API Access
AppLovin Free Cash Flow 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=free-cash-flow&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();