AppLovin (APP) Return on Capital Employed [ROCE] (2021 - 2026)
AppLovin's Return on Capital Employed [ROCE] was 78.53% in Q2 2026, up 16.06 percentage points from 62.46% a year earlier but down 0.81 percentage points from the prior quarter.
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Analysis
AppLovin (APP) Return on Capital Employed [ROCE] (2021 - 2026) Analysis & Trends
For FY2025, Return on Capital Employed [ROCE] at AppLovin came in at 79.38%, up 37.44 percentage points from FY2024.
- Return on Capital Employed [ROCE] has now increased for three consecutive years, with a four-year change of +75.11 percentage points (FY2021 to FY2025).
- In earlier years, Return on Capital Employed [ROCE] was 41.94% in FY2024 (+25.36 pp), 16.58% in FY2023 (+17.46 pp), -0.88% in FY2022 (-5.14 pp) and 4.26% in FY2021.
- Quarterly Return on Capital Employed [ROCE] has moved between -0.91% (Q4 2022) and 79.34% (Q1 2026) over five years.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for 14 straight quarters, with an average year-over-year change of +28.09 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Capital Employed [ROCE] over five years was Q4 2025 (a gain of 34.91 percentage points); the worst was Q4 2022 (a drop of 4.09 percentage points).
- Per Business Quant data, APP's Return on Capital Employed [ROCE] in the three quarters before Q2 2026 was 79.34% (Q1 2026), 75.94% (Q4 2025) and 69.02% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 21.49% |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 23.74% |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 30.16% |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 2.77% |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 14.37% |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 13.97% |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 121.68% |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | 22.53% |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 78.53% |
| 10 | Spotify Technology | 102.35 Bn | 59.59 Bn | 1.86 Bn | 19.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 78.53% |
| Mar 31, 2026 | 79.34% |
| Dec 31, 2025 | 75.94% |
| Sep 30, 2025 | 69.02% |
| Jun 30, 2025 | 62.46% |
| Mar 31, 2025 | 54.51% |
| Dec 31, 2024 | 41.03% |
| Sep 30, 2024 | 36.10% |
| Jun 30, 2024 | 28.75% |
| Mar 31, 2024 | 23.11% |
| Dec 31, 2023 | 18.23% |
| Sep 30, 2023 | 8.03% |
| Jun 30, 2023 | 4.29% |
| Mar 31, 2023 | 2.68% |
| Dec 31, 2022 | -0.91% |
| Sep 30, 2022 | 0.62% |
| Jun 30, 2022 | 0.54% |
| Mar 31, 2022 | 0.20% |
| Dec 31, 2021 | 3.17% |
| Sep 30, 2021 | 2.16% |
API Access
AppLovin Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();