APPAppLovin
Our mission is to create meaningful connections between companies and their ideal customers. 10-K, Item 1
- Headquarters
- Palo Alto, CA
- CEO
- Arash Adam Foroughi
- Next results
- around Feb 10, 2027
APP and 9 peers, year by year
The 9 Communication companies closest to APP in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.
Choose the peers
| Company | Year | Revenue | Sales growth | Gross margin | Operating margin | Net margin | FCF margin | Return on equity | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|
| APP AppLovin | FY2025 | $5.5B | +70.0% | - | 75.8% | 60.8% | - | 156.2% | 1.65 |
| TTWO Take-Two Interactive | FY2026 | $6.7B | +18.2% | 57.2% | −1.6% | −4.5% | 6.9% | −8.5% | 0.72 |
| NWSA News Corp (Class A) | FY2026 | $9.0B | +6.8% | - | - | 6.3% | 9.0% | 6.7% | 0.23 |
| TKO TKO Group Holdings | FY2025 | $4.7B | −3.1% | - | 17.6% | 4.1% | - | 5.2% | 1.01 |
| RDDT Reddit | FY2025 | $2.2B | +69.4% | - | 20.1% | 24.1% | 31.1% | 18.1% | - |
| ECHO EchoStar | FY2025 | $15.0B | −5.2% | - | −118.1% | −96.6% | −7.1% | n/m | 4.51 |
| FOXA Fox Corporation (Class A) | FY2026 | $17.1B | +5.1% | - | - | 9.8% | 8.6% | 14.5% | 0.57 |
| OMC Omnicom Group | FY2025 | $17.3B | +10.1% | - | 2.6% | −0.3% | 16.1% | −0.5% | 0.77 |
| LYV Live Nation Entertainment | FY2025 | $25.2B | +8.8% | - | 5.0% | 2.0% | 1.3% | 183.0% | n/m |
| SKYD Skydance Corporation | FY2024 | $29.2B | −1.5% | - | −18.0% | −21.2% | 1.7% | −37.9% | 0.89 |
Revenue, FY2019 to FY2025
Revenue as reported in the 10-K.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | $994.1M | $1.5B | $2.8B | $2.8B | $1.8B | $3.2B | $5.5B |
| TTWO Mar | $2.7B | $3.1B | $3.4B | $3.5B | $5.3B | $5.3B | $5.6B |
| NWSA Jun | $10.1B | $9.0B | $9.4B | $10.4B | $8.0B | $8.3B | $8.5B |
| TKO Dec | - | - | $1.0B | $1.1B | $3.2B | $4.9B | $4.7B |
| RDDT Dec | - | - | - | $666.7M | $804.0M | $1.3B | $2.2B |
| ECHO Dec | $1.9B | $1.9B | $19.8B | $18.6B | $17.0B | $15.8B | $15.0B |
| FOXA Jun | $11.4B | $12.3B | $12.9B | $14.0B | $14.9B | $14.0B | $16.3B |
| OMC Dec | $15.0B | $13.2B | $14.3B | $14.3B | $14.7B | $15.7B | $17.3B |
| LYV Dec | $11.5B | $1.9B | $6.3B | $16.7B | $22.7B | $23.2B | $25.2B |
| SKYD Dec | - | - | - | - | $29.7B | $29.2B | - |
| Peer median | $10.7B | $6.0B | $9.4B | $12.2B | $14.7B | $14.0B | $11.7B |
Sales growth, FY2019 to FY2025
Revenue against the fiscal year before.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | - | +46.0% | +92.5% | +0.9% | +16.5% | +75.1% | +70.0% |
| TTWO Mar | +48.8% | +15.8% | +9.2% | +3.9% | +52.6% | 0.0% | +5.3% |
| NWSA Jun | +11.6% | −10.6% | +3.9% | +11.0% | −4.9% | +3.0% | +2.4% |
| TKO Dec | - | - | - | +10.5% | +46.9% | +51.5% | −3.1% |
| RDDT Dec | - | - | - | - | +20.6% | +61.7% | +69.4% |
| ECHO Dec | +7.0% | +0.1% | +5.2% | −6.0% | −8.7% | −7.0% | −5.2% |
| FOXA Jun | +12.2% | +8.0% | +4.9% | +8.3% | +6.7% | −6.3% | +16.6% |
| OMC Dec | −2.2% | −11.9% | +8.5% | 0.0% | +2.8% | +6.8% | +10.1% |
| LYV Dec | +7.0% | −83.9% | +237% | +166% | +36.2% | +1.9% | +8.8% |
| SKYD Dec | - | - | - | - | - | −1.5% | - |
| Peer median | +9.3% | −5.2% | +6.8% | +8.3% | +13.7% | +1.9% | +7.1% |
Gross margin, FY2019 to FY2025
Gross profit / revenue.Operating margin, FY2019 to FY2025
Operating income / revenue.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | 19.6% | −4.3% | 5.4% | −1.7% | 41.9% | 59.3% | 75.8% |
| TTWO Mar | 7.7% | 13.8% | 18.7% | 13.5% | −21.8% | −67.1% | −77.9% |
| NWSA Jun | - | - | - | - | - | - | - |
| TKO Dec | - | - | 37.9% | 47.7% | 11.7% | 0.6% | 17.6% |
| RDDT Dec | - | - | - | −25.8% | −17.4% | −43.1% | 20.1% |
| ECHO Dec | 3.9% | 6.0% | 17.3% | 12.0% | −1.6% | −1.9% | −118.1% |
| FOXA Jun | - | - | - | - | - | - | - |
| OMC Dec | 14.2% | 12.1% | 15.4% | 14.6% | 14.3% | 14.5% | 2.6% |
| LYV Dec | 2.8% | −88.8% | −6.7% | 4.3% | 4.8% | 3.6% | 5.0% |
| SKYD Dec | - | - | - | - | −1.5% | −18.0% | - |
| Peer median | 5.8% | 9.0% | 17.3% | 12.7% | −1.5% | −1.9% | 3.8% |
Net margin, FY2019 to FY2025
Net income / revenue.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | 12.0% | −8.6% | 1.3% | −6.8% | 19.4% | 49.0% | 60.8% |
| TTWO Mar | 12.5% | 13.1% | 17.5% | 11.9% | −21.0% | −70.0% | −79.5% |
| NWSA Jun | 1.5% | −14.1% | 3.5% | 6.0% | 1.9% | 3.2% | 14.0% |
| TKO Dec | - | - | 26.5% | 34.1% | −1.1% | 0.2% | 4.1% |
| RDDT Dec | - | - | - | −23.8% | −11.3% | −37.2% | 24.1% |
| ECHO Dec | −3.3% | −2.1% | 12.5% | 13.3% | −10.0% | −0.8% | −96.6% |
| FOXA Jun | 14.0% | 8.1% | 16.7% | 8.6% | 8.3% | 10.7% | 13.9% |
| OMC Dec | 9.0% | 7.2% | 9.9% | 9.2% | 9.5% | 9.4% | −0.3% |
| LYV Dec | 0.6% | −92.7% | −10.4% | 1.6% | 2.5% | 3.9% | 2.0% |
| SKYD Dec | - | - | - | - | −2.1% | −21.2% | - |
| Peer median | 5.2% | 2.5% | 12.5% | 8.9% | −1.1% | 0.2% | 3.0% |
Free cash flow, FY2019 to FY2025
Cash from operations minus capital spending.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | $195.1M | $219.6M | $360.5M | $412.1M | $1.1B | $2.1B | - |
| TTWO Mar | $776.5M | $632.3M | $843.4M | $99.4M | −$203.1M | −$157.8M | −$214.6M |
| NWSA Jun | $356.0M | $342.0M | $847.0M | $855.0M | $745.0M | $741.0M | $571.0M |
| TKO Dec | - | - | - | - | - | - | - |
| RDDT Dec | - | - | - | −$100.3M | −$84.8M | $215.8M | $684.2M |
| ECHO Dec | $237.7M | $125.6M | $3.0B | $570.7M | −$668.3M | −$292.2M | −$1.1B |
| FOXA Jun | $2.3B | $2.0B | $2.2B | $1.6B | $1.4B | $1.5B | $3.0B |
| OMC Dec | $1.8B | $1.6B | $1.3B | $848.3M | $1.3B | $1.6B | $2.8B |
| LYV Dec | $146.2M | −$1.3B | $1.6B | $1.5B | $924.4M | $1.1B | $333.6M |
| SKYD Dec | - | - | - | - | $147.0M | $489.0M | - |
| Peer median | $566.3M | $487.1M | $1.5B | $848.3M | $446.0M | $615.0M | $571.0M |
FCF margin, FY2019 to FY2025
Free cash flow / revenue.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | 19.6% | 15.1% | 12.9% | 14.6% | 57.4% | 65.0% | - |
| TTWO Mar | 29.1% | 20.5% | 25.0% | 2.8% | −3.8% | −2.9% | −3.8% |
| NWSA Jun | 3.5% | 3.8% | 9.1% | 8.2% | 9.3% | 9.0% | 6.8% |
| TKO Dec | - | - | - | - | - | - | - |
| RDDT Dec | - | - | - | −15.0% | −10.6% | 16.6% | 31.1% |
| ECHO Dec | 12.6% | 6.7% | 15.3% | 3.1% | −3.9% | −1.8% | −7.1% |
| FOXA Jun | 20.1% | 16.3% | 16.7% | 11.3% | 9.7% | 10.7% | 18.4% |
| OMC Dec | 11.7% | 12.5% | 9.0% | 5.9% | 9.1% | 10.2% | 16.1% |
| LYV Dec | 1.3% | −69.7% | 26.0% | 8.9% | 4.1% | 4.7% | 1.3% |
| SKYD Dec | - | - | - | - | 0.5% | 1.7% | - |
| Peer median | 12.2% | 9.6% | 16.0% | 5.9% | 2.3% | 6.8% | 6.8% |
Return on equity, FY2019 to FY2025
Net income / shareholders' equity at the year end.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | n/m | n/m | 1.7% | −10.1% | 28.4% | 145.0% | 156.2% |
| TTWO Mar | 16.4% | 15.9% | 17.7% | 11.0% | −12.4% | −66.1% | n/m |
| NWSA Jun | 1.7% | −16.7% | 4.0% | 7.6% | 1.8% | 3.3% | 13.4% |
| TKO Dec | - | - | 10.9% | 19.9% | −0.9% | 0.2% | 5.2% |
| RDDT Dec | - | - | - | n/m | n/m | −22.7% | 18.1% |
| ECHO Dec | −1.7% | −1.1% | 74.1% | 11.5% | −8.6% | −0.6% | n/m |
| FOXA Jun | 16.0% | 9.9% | 19.3% | 10.6% | 11.9% | 14.0% | 18.9% |
| OMC Dec | 46.9% | 30.7% | 43.0% | 40.5% | 38.5% | 35.3% | −0.5% |
| LYV Dec | 6.1% | n/m | n/m | n/m | n/m | n/m | 183.0% |
| SKYD Dec | - | - | - | - | −2.6% | −37.9% | - |
| Peer median | 11.1% | 9.9% | 18.5% | 11.3% | −0.9% | −0.2% | 15.8% |
Debt / equity, FY2019 to FY2025
Total debt / shareholders' equity at the year end.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | - | n/m | 1.52 | 1.71 | 2.66 | 3.22 | 1.65 |
| TTWO Mar | 0.00 | - | - | 0.00 | 0.34 | 0.54 | 1.71 |
| NWSA Jun | 0.16 | 0.17 | 0.28 | 0.37 | 0.27 | 0.26 | 0.22 |
| TKO Dec | - | - | - | 1.41 | 0.67 | 0.68 | 1.01 |
| RDDT Dec | - | - | - | - | - | - | - |
| ECHO Dec | 0.65 | 0.68 | 0.45 | 0.07 | 1.15 | 1.32 | 4.51 |
| FOXA Jun | 0.68 | 0.79 | 0.71 | 0.64 | 0.69 | 0.67 | 0.55 |
| OMC Dec | 1.80 | 1.89 | 1.75 | 1.73 | 1.57 | 1.45 | 0.77 |
| LYV Dec | 2.89 | n/m | n/m | n/m | n/m | n/m | n/m |
| SKYD Dec | - | - | - | - | - | 0.89 | - |
| Peer median | 0.66 | 0.73 | 0.58 | 0.50 | 0.68 | 0.68 | 0.89 |
EPS (diluted), FY2019 to FY2025
Diluted earnings per share, on today's share count after splits.| Company | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| APP Dec | $0.36 | −$0.58 | $0.09 | −$0.52 | $0.98 | $4.53 | $9.75 |
| TTWO Mar | $2.90 | $3.54 | $5.09 | $3.58 | −$7.03 | −$22.01 | −$25.58 |
| NWSA Jun | $0.26 | −$2.16 | $0.56 | $1.05 | $0.26 | $0.46 | $2.07 |
| TKO Dec | - | - | - | - | −$0.43 | $0.02 | $2.26 |
| RDDT Dec | - | - | - | −$2.77 | −$1.54 | −$3.33 | $2.62 |
| ECHO Dec | −$0.65 | −$0.41 | $7.94 | $8.05 | −$6.28 | −$0.44 | −$50.41 |
| FOXA Jun | $2.57 | $1.62 | $3.61 | $2.11 | $2.33 | $3.13 | $4.91 |
| OMC Dec | $6.06 | $4.37 | $6.53 | $6.36 | $6.91 | $7.46 | −$0.27 |
| LYV Dec | −$0.02 | −$8.12 | −$3.09 | $0.52 | $1.34 | $2.74 | −$0.24 |
| SKYD Dec | - | - | - | - | −$1.02 | −$9.34 | - |
| Peer median | $1.42 | $0.61 | $4.35 | $2.11 | −$0.43 | $0.02 | $0.91 |
Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out APP and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →
Work on APP in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/APP/export.csv") into a cell.