AppLovin (APP) Net Margin (2020 - 2026)
AppLovin's Net Margin was 65.86% in Q3 2026, up 6.39 percentage points from 59.47% a year earlier and up 0.02 percentage points from the prior quarter.
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Analysis
AppLovin (APP) Net Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, AppLovin's Net Margin was 65.89% through Sep 30, 2026, up 7.20 percentage points year-over-year; for FY2025, it came in at 60.83%, up 11.91 percentage points from FY2024.
- Net Margin has now increased for three consecutive years, with a five-year change of +69.45 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 48.92% in FY2024 (+29.64 pp), 19.27% in FY2023 (+26.12 pp), -6.84% in FY2022 (-7.98 pp) and 1.14% in FY2021 (+9.77 pp).
- Quarterly Net Margin has moved between -18.43% (Q1 2022) and 66.48% (Q4 2025) over five years.
- Compared with a year earlier, Net Margin has increased for seven straight quarters, with an average year-over-year change of +12.28 percentage points over the last seven quarters.
- The best year-over-year quarter for Net Margin over five years was Q3 2024 (a gain of 39.52 percentage points); the worst was Q1 2022 (a drop of 16.69 percentage points).
- Per Business Quant data, APP's Net Margin in the three quarters before Q3 2026 was 65.84% (Q2 2026), 65.44% (Q1 2026) and 66.48% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,555.16 Bn | 3,290.06 Bn | 76.16 Bn | 20.51% |
| 2 | Meta Platforms | 1,645.02 Bn | 1,309.54 Bn | 51.23 Bn | 15.26% |
| 3 | Netflix | 259.98 Bn | 221.27 Bn | 6.80 Bn | 28.46% |
| 4 | Alibaba Group Holding | 242.36 Bn | 241.21 Bn | - | - |
| 5 | Shopify | 192.37 Bn | 171.18 Bn | 1.78 Bn | 12.35% |
| 6 | Uber Technologies | 142.90 Bn | 113.72 Bn | 6.42 Bn | 3.47% |
| 7 | AppLovin | 130.75 Bn | 119.27 Bn | 1.94 Bn | 65.86% |
| 8 | Spotify Technology | 122.74 Bn | 105.49 Bn | - | - |
| 9 | Booking Holdings | 122.04 Bn | 55.79 Bn | - | 30.55% |
| 10 | PDD Holdings | 111.67 Bn | 111.67 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 65.86% |
| Jun 30, 2026 | 65.84% |
| Mar 31, 2026 | 65.44% |
| Dec 31, 2025 | 66.48% |
| Sep 30, 2025 | 59.47% |
| Jun 30, 2025 | 65.11% |
| Mar 31, 2025 | 49.72% |
| Dec 31, 2024 | 59.90% |
| Sep 30, 2024 | 52.00% |
| Jun 30, 2024 | 43.58% |
| Mar 31, 2024 | 22.19% |
| Sep 30, 2023 | 12.48% |
| Jun 30, 2023 | 10.67% |
| Mar 31, 2023 | -0.63% |
| Dec 31, 2022 | -11.32% |
| Sep 30, 2022 | 3.32% |
| Jun 30, 2022 | -2.80% |
| Mar 31, 2022 | -18.43% |
| Dec 31, 2021 | 3.57% |
| Sep 30, 2021 | 0.02% |
API Access
AppLovin Net Margin 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=net-margin&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();