How Does AppLovin Stock Compare With Peers?
AppLovin (APP) stock has delivered a positive market return over the past year, but how does its performance truly stack up against peers in the dynamic mobile app ecosystem? As of February 4, 2026, a closer look reveals exceptional revenue growth and strong profitability with high operating and free cash flow margins. However, its higher P/E valuation compared to some peers suggests potential headwinds, particularly if high-growth pure plays or larger platforms offer more compelling upside.
- APP’s 52.5% operating margin leads peers, indicating superior platform efficiency and strong profitability within ad tech.
- APP’s 86.4% LTM revenue growth outpaces peers, driven by robust in-app advertising demand and platform expansion.
- APP’s 1.9% stock gain and 46.3 PE lag stronger peer returns (U, APPS), signaling investor growth expectations are already priced in.
Here’s how AppLovin stacks up across size, valuation, and profitability versus key peers.
| APP | U | TTD | META | APPS | MGNI | |
|---|---|---|---|---|---|---|
| Market Cap ($ Bil) | 131.1 | 10.6 | 13.3 | 1,688.5 | 0.5 | 1.7 |
| Revenue ($ Bil) | 6.6 | 1.8 | 2.8 | 201.0 | 0.5 | 0.7 |
| PE Ratio | 46.3 | -24.3 | 30.3 | 27.9 | -11.0 | 29.4 |
| LTM Revenue Growth | 86.4% | -8.2% | 20.8% | 22.2% | 12.1% | 6.3% |
| LTM Operating Margin | 52.5% | -27.5% | 18.9% | 41.4% | 2.2% | 12.2% |
| LTM FCF Margin | 50.6% | 21.7% | 24.3% | 22.9% | 3.5% | 22.9% |
| 12M Market Return | 1.9% | 16.2% | -76.0% | -4.7% | 89.1% | -32.8% |
For more details on AppLovin, read Buy or Sell APP Stock. Below we compare APP’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
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| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| APP | 86.4% | – | 43.4% | 16.5% | 0.9% |
| U | -8.2% | – | -17.1% | 57.2% | 25.3% |
| TTD | 20.8% | – | 25.6% | 23.3% | 31.9% |
| META | 22.2% | 22.2% | 21.9% | 15.7% | |
| APPS | 12.1% | -9.9% | -18.2% | -10.9% | |
| MGNI | 6.3% | – | 7.8% | 7.4% | 23.2% |
Operating Margin Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| APP | 52.5% | – | 39.8% | 19.7% | -1.7% |
| U | -27.5% | – | -41.6% | -38.1% | -63.4% |
| TTD | 18.9% | – | 17.5% | 10.3% | 7.2% |
| META | 41.4% | 41.4% | 42.2% | 34.7% | |
| APPS | 2.2% | -11.0% | -6.9% | 6.9% | |
| MGNI | 12.2% | – | 7.6% | -23.8% | -18.3% |
PE Ratio Comparison
| LTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
| APP | 46.3 | – | 143.7 | 319.5 | -76.8 |
| U | -24.3 | – | -26.3 | -10.4 | -13.8 |
| TTD | 30.3 | – | 47.4 | 321.4 | 656.4 |
| META | 27.9 | 27.5 | 23.8 | 23.3 | |
| APPS | -11.0 | -5.6 | -0.4 | 40.6 | |
| MGNI | 29.4 | – | 100.1 | -13.7 | -9.5 |
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