NASDAQ: APP · Application Software
AppLovin (APP) fair value and price range
As of 3 Oct 2026, Faircurve's model values AppLovin (APP) at $308.80 a share. The stock last closed at $268.22, which puts the model's fair value 15.1% above the price. The model grades the evidence behind this valuation as low, so no verdict is shown. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It does not say how likely the fair value is to be right.
Revalued . Price is the close of 2 Oct 2026. AppLovin Corporation.
Faircurve Insights · 3 Oct 2026
AppLovin Corporation provides a specialized software platform focused on empowering mobile application developers to enhance the marketing and revenue generation of their products.
Faircurve's model on 3 Oct 2026 found a fair value of $308.80 a share, the midpoint of 2,000 simulations. This was -13.7% from the previous run on 26 Sep 2026, which gave $357.73. The model's calibrated range over 63 trading days was $224.69 to $359.63, and ranges built this way held the price 60% of the time at this horizon. The model grades the evidence behind this valuation as low, so no verdict is shown.
The overall quality score is 75 out of 100 against comparable companies. The model compares it with Datadog, Inc., Automatic Data Processing, Inc., ServiceNow, Inc. and Strategy Inc. The stock's moves around its last 8 earnings reports ranged from -22.4% to +49.2%, with a median size of 17.9%, ignoring direction.
Written from the figures on this page for the 3 Oct 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give APP?
The calibrated range for APP over 63 trading days is $224.69 to $359.63. It sits around the last close, and its width comes from the volatility that APP's own options imply (67% a year), calibrated weekly against realised prices (n = 3,562 past valuations, refreshed 3 Oct 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $187.27 to $498.54. In 59% of the simulations the fair value came out above the price the model ran on.
How does APP score on business quality?
AppLovin's overall quality score is 75 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 100 | 123.5%ROIC | 4.6% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 52 | 1.02xFCF / net income | 1.63x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 90 | 70.0%Revenue growth, trailing | 28.4% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 89 | 2.7%Net buybacks / market value | 0.4% |
| Balance sheetNet debt to EBITDA and interest coverage. | 73 | 0.08xNet debt / EBITDA | -0.28x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 0 | 20.7 ptsEBITDA margin downside volatility, 5y | 5.5 pts |
How does APP compare with similar companies?
The companies in application software closest to AppLovin in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| ADBE Adobe Inc. | $237.69 | $268.21 | +12.8% | Low evidence grade |
| CDNS Cadence Design Systems, Inc. | $351.35 | $333.22 | -5.2% | Low evidence grade |
| DDOG Datadog, Inc. | $277.22 | $234.92 | -15.3% | Overvalued |
| ADP Automatic Data Processing, Inc. | $257.68 | $254.03 | -1.4% | Fairly valued |
| INTU Intuit Inc. | $281.08 | $377.55 | +34.3% | Low evidence grade |
| UBER Uber Technologies, Inc. | $68.11 | $67.15 | -1.4% | Low evidence grade |
| NOW ServiceNow, Inc. | $134.38 | $119.48 | -11.1% | Fairly valued |
| MSTR Strategy Inc | $160.01 | $142.73 | -10.8% | Fairly valued |
When does APP report earnings, and how has the stock reacted?
AppLovin's next earnings report is scheduled for 4 Nov 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 7.7% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction. APP's 30 day implied volatility works out to about 19.3% over one month.
How APP moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 17.9%.
| Report date | Two session move |
|---|---|
| 5 Aug 2026 | -20.0% |
| 6 May 2026 | +4.3% |
| 11 Feb 2026 | -22.4% |
| 5 Nov 2025 | +2.1% |
| 6 Aug 2025 | +15.7% |
| 7 May 2025 | +11.5% |
| 12 Feb 2025 | +25.7% |
| 6 Nov 2024 | +49.2% |
AppLovin at a glance
AppLovin Corporation provides a specialized software platform focused on empowering mobile application developers to enhance the marketing and revenue generation of their products.
- Market value
- $90.1B
- Sector
- Technology
- Industry
- Application Software
- Revenue expected, next twelve months
- $9.8B
- Consensus revenue growth, next fiscal year
- +48.4%
- Analysts with estimates
- 20
- Beta to the US market
- 2.15
- First valued by Faircurve
- 1 May 2026
How the fair value is worked out: the model prices AppLovin on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for APP was $357.73. As of 3 Oct 2026 it is $308.80, a change of -13.7%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about AppLovin's valuation
Is AppLovin stock undervalued or overvalued?
Faircurve's model puts APP's fair value at $308.80 a share against a last close of $268.22, as of 3 Oct 2026. The model grades the evidence behind this valuation as low, so no verdict is shown. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It does not say how likely the fair value is to be right.
What is APP's fair value?
$308.80 a share as of 3 Oct 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $187.27 to $498.54.
What price range does the model give APP?
$224.69 to $359.63 over 63 trading days. Ranges built this way held the price 60% of the time across 3,562 past valuations, refreshed 3 Oct 2026.
When does AppLovin report earnings next?
The next report is scheduled for 4 Nov 2026. Companies can move their dates.
How much has APP moved on past earnings reports?
Across its last 8 reports the median two session move was 17.9%, ignoring direction. The largest was +49.2% around the report of 6 Nov 2024.
How confident is the model in this valuation?
The model's evidence grade for APP is low. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.