AppLovin
AppLovin debt and dilution—
Borrowings, liquidity, share count and stock-based dilution.
Total debt
USD millions
Cash & equivalents
USD millions
Net debt
USD millions
Debt / equity
×
Debt / assets
%
Net debt / EBITDA
× · TTM
Debt / FCF
× · TTM
Interest coverage
× · TTM
Current ratio
×
Diluted shares
Million shares
Basic shares
Million shares
Share count growth
%
Share repurchases
USD millions
Quarterly data
| Fiscal period | Ended | Total debtUSD millions | Cash & equivalentsUSD millions | Net debtUSD millions | Debt / equity× | Debt / assets% | Net debt / EBITDA× | Debt / FCF× | Interest coverage× | Current ratio× | Diluted sharesMillion shares | Basic sharesMillion shares | Share count growth% | Share repurchasesUSD millions |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 3,053.31 | — | — | — | — | — | — | 4.3× | 337.03 | 335.8 | -0.83% | 551.23 |
| FY 2026 Q1 | Mar 31, 2026 | — | 2,758.67 | — | — | — | — | — | — | 3.24× | 338.73 | 337.4 | -0.72% | 981.72 |
| FY 2025 Q4 | Dec 31, 2025 | 3,512.99 | 2,487.1 | 1,025.89 | 1.65× | 48.39% | 0.24× | — | 20.06× | 3.32× | 339.9 | 338.16 | -0.3% | 417.62 |
| FY 2025 Q3 | Sep 30, 2025 | — | 1,666.9 | — | — | — | — | — | — | 3.25× | 340.97 | 338.53 | 0.47% | 501.9 |
| FY 2025 Q2 | Jun 30, 2025 | — | 1,192.61 | — | — | — | — | — | — | 2.74× | 342.19 | 338.62 | 0.87% | 271.52 |
| FY 2025 Q1 | Mar 31, 2025 | — | 551.02 | — | — | — | — | — | — | 1.68× | 344.88 | 339.84 | 1.2% | 1,000.91 |
| FY 2024 Q4 | Dec 31, 2024 | 3,508.98 | 741.41 | 2,767.57 | 3.22× | 59.79% | 1.19× | 1.68× | 5.89× | 2.19× | 346.42 | 339.17 | 0.66% | 0.63 |
| FY 2024 Q3 | Sep 30, 2024 | — | 567.6 | — | — | — | — | — | 5.19× | 2.41× | 348.23 | 336.93 | -1.32% | 228.45 |
| FY 2024 Q2 | Jun 30, 2024 | — | 460.45 | — | — | — | — | — | 3.97× | 2.28× | 347.96 | 335.68 | -5.96% | 0 |
| FY 2024 Q1 | Mar 31, 2024 | — | 436.34 | — | — | — | — | — | 3.37× | 2.11× | 348.6 | 335.79 | -10.01% | 752.22 |
| FY 2023 Q4 | Dec 31, 2023 | 3,335.91 | 502.15 | 2,833.75 | 2.66× | 62.25% | 2.49× | 3.16× | 2.35× | 1.71× | 345.76 | 336.94 | -9.2% | 0 |
| FY 2023 Q3 | Sep 30, 2023 | — | 332.49 | — | — | — | — | — | 1.38× | 1.61× | 356.91 | 341.44 | -7.57% | 581.49 |
| FY 2023 Q2 | Jun 30, 2023 | — | 876.23 | — | — | — | — | — | 0.96× | 2.87× | 366.34 | 356.96 | -4.53% | 507.2 |
| FY 2023 Q1 | Mar 31, 2023 | — | 1,245.89 | — | — | — | — | — | 0.66× | 3.31× | 373.16 | 373.16 | 0.32% | 64.9 |
| FY 2022 Q4 | Dec 31, 2022 | 3,245.03 | 1,080.48 | 2,164.55 | 1.71× | 55.49% | 4.34× | 7.87× | -0.28× | 3.35× | 371.07 | 371.07 | 0.08% | 0 |
| FY 2022 Q3 | Sep 30, 2022 | — | 943.51 | — | — | — | — | — | 0.22× | 3.36× | 378.46 | 369.39 | 0.26% | 94.87 |
| FY 2022 Q2 | Jun 30, 2022 | — | 951.56 | — | — | — | — | — | 0.25× | 2.82× | 373.91 | 373.91 | 11.41% | 200.32 |
| FY 2022 Q1 | Mar 31, 2022 | — | 1,413.26 | — | — | — | — | — | 0.11× | 2.93× | 371.97 | 371.97 | 67.25% | 43.7 |
| FY 2021 Q4 | Dec 31, 2021 | 3,253.45 | 1,520.5 | 1,732.95 | 1.52× | 52.79% | 2.98× | 9.03× | 1.45× | 5.05× | 388.27 | 370.78 | — | 0 |
| FY 2021 Q3 | Sep 30, 2021 | — | 1,049.62 | — | — | — | — | — | — | 2.85× | 384.32 | 368.43 | — | 0 |
| FY 2021 Q2 | Jun 30, 2021 | — | 1,183.74 | — | — | — | — | — | — | 2.85× | 353.86 | 335.62 | — | 0 |
| FY 2021 Q1 | Mar 31, 2021 | — | 761.08 | — | — | — | — | — | — | 2.43× | 222.41 | 222.41 | — | 0 |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
The SBC option subtracts reported share-based compensation from FCF as an economic-cost scenario. Missing SBC never becomes zero.
Debt uses reported borrowings, with overlapping concepts treated as alternatives. Cash excludes restricted cash and short-term investments. Dilution compares split-normalized weighted average basic shares year over year. Share buyback spending does not by itself measure shares retired.
Market prices: Yahoo Finance · APP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- Total debt
- Reported borrowing balances. Uses an aggregate including current maturities, or current plus noncurrent debt. Adds separately disclosed short-term borrowings, with commercial paper as a fallback, unless the selected current/aggregate concept already includes them. Finance leases are included when part of the reported debt concept; undisclosed components are not estimated.
- Cash & equivalents
- Unrestricted reported cash and cash equivalents. Excludes short-term investments and restricted cash.
- Net debt
- Total debt − cash and equivalents. Negative means net cash.
- Debt / equity
- Total debt / equity including noncontrolling interests. Nonpositive equity yields unavailable.
- Debt / assets
- Total debt / total assets × 100.
- Net debt / EBITDA
- Period-end net debt / (TTM operating income + TTM depreciation and amortization). Negative net debt is retained.
- Debt / FCF
- Period-end reported debt / positive TTM free cash flow. Reflects the selected reported capex scope and SBC option.
- Interest coverage
- TTM operating income / positive TTM interest expense. IFRS finance costs can include more than interest.
- Current ratio
- Current assets / positive current liabilities.
- Diluted shares
- Reported weighted average diluted shares, normalized for subsequent recorded stock splits. Fourth-quarter counts use a day-weighted annual/nine-month reconstruction where possible.
- Basic shares
- Reported weighted average basic shares, normalized for subsequent recorded stock splits.
- Share count growth
- Year-over-year change in split-normalized weighted average basic shares × 100. A dilution proxy; negative means a lower share count.
- Share repurchases
- Reported cash payments for repurchase of common shares. This is spending, not a buyback yield.