Question 1

What is AppLovin's P/S ratio?

Accepted Answer

AppLovin (APP) P/S ratio is 30.6× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for AppLovin?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For AppLovin specifically, the relevant sector benchmark is the current sector median of 5.7×.

Question 5

Is AppLovin's P/S ratio high or low?

Accepted Answer

AppLovin's P/S ratio of 30.6× is above its own 5-year average of 13.7× and above the sector median of 5.7×. That places the current reading at the 82th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is AppLovin's historical P/S ratio range?

Accepted Answer

In the available daily series, AppLovin (APP) P/S ratio has ranged from a low of 1.2× in 2022 to a high of 53.2× in 2025. The 5-year average is 13.7× and the 5-year median is 9.3×.

Question 7

What was AppLovin's P/S ratio in 2025?

Accepted Answer

AppLovin (APP) P/S ratio at the end of 2025 was 41.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does AppLovin's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$227.86B	$5.48B	41.6×	+14.0×	Dec 31, 2025
2024	$109.83B	$3.98B	27.6×	+23.5×	Dec 31, 2024
2023	$13.43B	$3.28B	4.1×	+2.7×	Dec 31, 2023
2022	$3.90B	$2.82B	1.4×	-9.6×	Dec 31, 2022
2021	$30.62B	$2.79B	11.0×	+1.0×	Dec 31, 2021
2020	$14.39B	$1.45B	9.9×	-3.3×	Dec 31, 2020
2019	$13.10B	$994.10M	13.2×	—	Dec 31, 2019


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P/S Ratio for AppLovin (APP)

P/S Ratio daily chart for AppLovin (APP)

Historical P/S Ratio for AppLovin (APP) from 2019 to 2025

About P/S Ratio at AppLovin (APP)

AppLovin P/S Ratio by Year

AppLovin P/S Ratio 2025: 41.6×

AppLovin P/S Ratio 2024: 27.6×

AppLovin P/S Ratio 2023: 4.1×

AppLovin P/S Ratio 2022: 1.4×

AppLovin P/S Ratio 2021: 11.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

AppLovin (APP) Key Financials

P/S Ratio daily chart for AppLovin (APP)

Historical P/S Ratio for AppLovin (APP) from 2019 to 2025

About P/S Ratio at AppLovin (APP)

AppLovin P/S Ratio by Year

AppLovin P/S Ratio 2025: 41.6×

AppLovin P/S Ratio 2024: 27.6×

AppLovin P/S Ratio 2023: 4.1×

AppLovin P/S Ratio 2022: 1.4×

AppLovin P/S Ratio 2021: 11.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is AppLovin's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for AppLovin?

+Is AppLovin's P/S ratio high or low?

+What is AppLovin's historical P/S ratio range?

+What was AppLovin's P/S ratio in 2025?

+Why does AppLovin's P/S ratio change over time?

AppLovin (APP) Key Financials