AppLovin (APP) Return on Capital Employed [ROCE] (2021 - 2026)
AppLovin's Return on Capital Employed [ROCE] was 85.44% in Q3 2026, up 16.42 percentage points from 69.02% a year earlier and up 6.92 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.
- The Q3 2026 figure marks the highest quarterly Return on Capital Employed [ROCE] in data going back to Q1 2021.
- Compared with a year earlier, Return on Capital Employed [ROCE] has increased for 15 straight quarters, with an average year-over-year change of +26.63 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 Q3 2026 was 78.53% (Q2 2026), 79.34% (Q1 2026) and 75.94% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,522.13 Bn | 3,257.03 Bn | 76.16 Bn | 18.96% |
| 2 | Meta Platforms | 1,639.39 Bn | 1,303.91 Bn | 51.23 Bn | 19.78% |
| 3 | Netflix | 259.77 Bn | 221.06 Bn | 6.80 Bn | 33.64% |
| 4 | Alibaba Group Holding | 238.46 Bn | 60.53 Bn | 15.16 Bn | 2.15% |
| 5 | Shopify | 188.67 Bn | 173.82 Bn | 1.78 Bn | 15.96% |
| 6 | Uber Technologies | 142.87 Bn | 114.08 Bn | 6.42 Bn | 13.04% |
| 7 | AppLovin | 131.04 Bn | 119.57 Bn | 1.94 Bn | 85.44% |
| 8 | Spotify Technology | 124.73 Bn | 81.65 Bn | 1.89 Bn | 20.03% |
| 9 | Booking Holdings | 119.44 Bn | 53.19 Bn | - | 96.01% |
| 10 | PDD Holdings | 113.02 Bn | -131.03 Bn | 9.48 Bn | 22.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 85.44% |
| 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% |
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();