---
title: AppLovin (APP) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/app
ticker: APP
as_of: 2026-10-17
sector: Technology
industry: Software - Application
---
# AppLovin (APP)

AppLovin (APP) closed at $266.13 on Oct 16, 2026, overvalued by 1% vs its model value of $264.51 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $266.13 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $264.51 |
| Price vs model | overvalued by 1% vs model |
| Range of that model | $203.20 – $385.89 |
| Market value | $89.4B |
| P/E (fiscal 2025) | 27.3 |
| Net margin (fiscal 2025) | 60.8% |
| Free cash flow (fiscal 2025) | — |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 2.56 |
| Cost of capital (WACC) | 13.05% |
| Business classification | High Growth (High revenue growth (~29% recent), High profitability (61% net margin), Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Near 52-week lows | #6 | +1.5% | https://sweetvaluelab.com/lists/near-52-week-lows |
| Worst performing this year | #3 | −60.5% | https://sweetvaluelab.com/lists/worst-performing-this-year |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $264.51 | $203.20 | $385.89 |
| DCF · Perpetuity growth · 10y | cross check | $312.09 | $242.31 | $447.66 |
| DCF · EBITDA exit · 5y | cross check | $322.28 | $230.45 | $429.81 |
| DCF · EBITDA exit · 10y | cross check | $359.83 | $262.94 | $487.35 |
| P/E · peers | cross check | $216.68 | $73.60 | $359.76 |
| P/E · own history | cross check | $841.15 | $576.56 | $1,931.58 |
| PEG | sanity check | $393.68 | $393.68 | $393.68 |
| EV/EBITDA · peers | cross check | $163.61 | $150.47 | $204.91 |
| EV/Revenue · peers | cross check | $22.73 | $6.22 | $45.78 |
| Earnings power value | cross check | $20.85 | $18.39 | $23.94 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 15, 2026 | Messing Barbara | Director | Grant / award | 64 | $0 |
| Oct 15, 2026 | WEBB MAYNARD G JR | Director | Grant / award | 67 | $0 |
| Aug 20, 2026 | Valenzuela Victoria | Director | Tax withholding | 2,730 | $842,942.1 |
| Aug 20, 2026 | Stumpf Matthew | Chief Financial Officer (CFO) | Tax withholding | 2,021 | $624,024.2 |
| Aug 20, 2026 | Ge Xiaochuan | CTO | Tax withholding | 5,459 | $1.7M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Aug 5, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1751008/000175100826000059/app-20260630.htm |
| Aug 5, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1751008/000175100826000057/app-20260805.htm |
| Jun 5, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/1751008/000175100826000050/app-20260603.htm |
| May 6, 2026 | S-3ASR | Shelf registration (automatic) | https://www.sec.gov/Archives/edgar/data/1751008/000175100826000047/s-3asr.htm |
| May 6, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1751008/000175100826000044/app-20260331.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Stephen Mandel | 2026-06-30 | 1,042,268 | $537.0M |
| Terry Smith | 2026-06-30 | 696,568 | $358.9M |
| Pat Dorsey | 2026-06-30 | 439,313 | $226.3M |
| Christopher Davis | 2026-06-30 | 315,539 | $162.7M |

5 tracked managers in all.

## About

AppLovin Corporation provides a specialized software platform focused on empowering mobile application developers to enhance the marketing and revenue generation of their products. With operations spanning the United States and international markets, the company assists mobile app developers worldwide. Among its core software offerings is AppDiscovery, a marketing solution that intelligently connects advertiser demand with publisher supply through an auction-based model. Another key product is Adjust, an analytics platform that enables marketers to scale their mobile apps by offering capabilities for performance measurement, campaign optimization, and user data protection. Additionally, MAX is an in-app bidding software engineered to maximize the value derived from an app's advertising inventory by facilitating real-time competitive auctions. Its client base is broad, serving advertisers…

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Source: https://sweetvaluelab.com/stocks/app (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.