AppLovin (APP) Invested Capital (2020 - 2026)
AppLovin (APP) reported Invested Capital of $6.68 billion for Q2 2026, up 42.8% from $4.68 billion a year earlier and up 13.6% from the prior quarter.
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Analysis
AppLovin (APP) Invested Capital (2020 - 2026) Analysis & Trends
For FY2025, AppLovin posted Invested Capital of $5.65 billion, up 22.8% from FY2024.
- Invested Capital has a five-year compound annual growth rate of 31.4% (FY2020 to FY2025).
- By year, Invested Capital came in at $4.6 billion in FY2024 (+5.1%), $4.38 billion in FY2023 (-14.4%), $5.11 billion in FY2022 (-4.7%) and $5.37 billion in FY2021 (+272.5%).
- The Q2 2026 figure ranks as the highest quarterly Invested Capital in data going back to Q4 2020.
- Year over year, Invested Capital has now increased in each of the last five quarters, with growth averaging 16.6% over the last eight quarters.
- The high point for year-over-year Invested Capital in five years was Q4 2021 (growth of 272.5%); the low point was Q3 2023 (a decline of 17.2%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $5.88 billion (Q1 2026), $5.65 billion (Q4 2025) and $4.99 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,977.99 Bn | 3,735.52 Bn | 73.85 Bn | 738.65 Bn |
| 2 | Meta Platforms | 1,673.42 Bn | 1,375.94 Bn | 49.47 Bn | 344.89 Bn |
| 3 | Netflix | 279.11 Bn | 239.31 Bn | 6.52 Bn | 44.46 Bn |
| 4 | Alibaba Group Holding | 237.07 Bn | 50.84 Bn | 15.11 Bn | 184.39 Bn |
| 5 | Shopify | 220.77 Bn | 197.95 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 139.70 Bn | 111.50 Bn | 6.38 Bn | 40.94 Bn |
| 7 | Booking Holdings | 125.22 Bn | 58.27 Bn | - | 9.40 Bn |
| 8 | Spotify Technology | 117.67 Bn | 75.17 Bn | 1.86 Bn | - |
| 9 | PDD Holdings | 110.57 Bn | -133.21 Bn | 9.45 Bn | - |
| 10 | AppLovin | 88.73 Bn | 78.77 Bn | 1.70 Bn | 6.68 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.68 Bn |
| Mar 31, 2026 | 5.88 Bn |
| Dec 31, 2025 | 5.65 Bn |
| Sep 30, 2025 | 4.99 Bn |
| Jun 30, 2025 | 4.68 Bn |
| Mar 31, 2025 | 4.29 Bn |
| Dec 31, 2024 | 4.60 Bn |
| Sep 30, 2024 | 4.45 Bn |
| Jun 30, 2024 | 4.33 Bn |
| Mar 31, 2024 | 4.29 Bn |
| Dec 31, 2023 | 4.38 Bn |
| Sep 30, 2023 | 4.22 Bn |
| Jun 30, 2023 | 4.72 Bn |
| Mar 31, 2023 | 5.10 Bn |
| Dec 31, 2022 | 5.11 Bn |
| Sep 30, 2022 | 5.10 Bn |
| Jun 30, 2022 | 5.13 Bn |
| Mar 31, 2022 | 5.24 Bn |
| Dec 31, 2021 | 5.37 Bn |
| Sep 30, 2021 | 3.80 Bn |
API Access
AppLovin Invested Capital 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=invested-capital&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();