AppLovin
AppLovin returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
Reported borrowing balances are unavailable in the extracted statements for this period.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | — | 89.03% | — | 203.68% | 61.99% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | 90.42% | — | 269.67% | 59.08% | — |
| FY 2025 Q4 | Dec 31, 2025 | 102.77% | 77.33% | — | 206.75% | 50.79% | 93.5 pp |
| FY 2025 Q3 | Sep 30, 2025 | — | 66.61% | — | 234.63% | 48.04% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 58.78% | — | 245.07% | 43.27% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 49.95% | — | 287.38% | 35.01% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 40.61% | — | 134.44% | 28.14% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | 34.64% | — | 113.11% | 22.07% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 25.16% | — | 70.65% | 15.38% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 18.92% | — | 44.68% | 10.69% | — |
| FY 2023 Q4 | Dec 31, 2023 | 14.9% | 13.39% | — | 22.47% | 6.37% | 5.6 pp |
| FY 2023 Q3 | Sep 30, 2023 | — | 7.53% | — | 6.97% | 1.94% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 4.31% | — | 1.15% | 0.35% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 2.65% | — | -4.2% | -1.36% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | -0.89% | — | -9.54% | -3.21% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | 0.72% | — | -4.33% | -1.58% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 0.62% | — | -5.56% | -2% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 0.28% | — | -7.82% | -1.58% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | — | — | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | — | — | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | — | — | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | — | — | — |
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.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 9.3%, rounded from the Software · System & Application benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · APP, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.