AppLovin (APP) Invested Capital (2020 - 2026)
AppLovin (APP) reported Invested Capital of $6.81 billion for Q3 2026, up 36.7% from $4.99 billion a year earlier and up 2.0% 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 Q3 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 six quarters, with growth averaging 20.6% 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 Q3 2026 came in at $6.68 billion (Q2 2026), $5.88 billion (Q1 2026) and $5.65 billion (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,522.13 Bn | 3,257.03 Bn | 76.16 Bn | 802.65 Bn |
| 2 | Meta Platforms | 1,639.39 Bn | 1,303.91 Bn | 51.23 Bn | 353.31 Bn |
| 3 | Netflix | 259.77 Bn | 221.06 Bn | 6.80 Bn | 44.42 Bn |
| 4 | Alibaba Group Holding | 238.46 Bn | 60.53 Bn | 15.16 Bn | 184.62 Bn |
| 5 | Shopify | 188.67 Bn | 173.82 Bn | 1.78 Bn | - |
| 6 | Uber Technologies | 142.87 Bn | 114.08 Bn | 6.42 Bn | 44.24 Bn |
| 7 | AppLovin | 131.04 Bn | 119.57 Bn | 1.94 Bn | 6.81 Bn |
| 8 | Spotify Technology | 124.73 Bn | 81.65 Bn | 1.89 Bn | 9.98 Bn |
| 9 | Booking Holdings | 119.44 Bn | 53.19 Bn | - | 9.65 Bn |
| 10 | PDD Holdings | 113.02 Bn | -131.03 Bn | 9.48 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 6.81 Bn |
| 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 |
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();