Is AppLovin Corp financially healthy?

AppLovin Corp scores 7 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of AppLovin Corp?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), FMR LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

AppLovin Corp (APP)

Nasdaq · Common Stock · Services-Computer Programming, Data Processing, Etc.

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

7 / 8

PASSReturn on assets positiveROA 45.9%
PASSOperating cash flow positiveOCF 4.0B
PASSReturn on assets improving26.9% → 45.9%
PASSCash flow exceeds earningsOCF 4.0B vs NI 3.3B
PASSLong-term debt ratio falling59.8% → 48.4% of assets
PASSCurrent ratio improving2.19 → 3.32
PASSNo share dilution348M → 342M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.80× → 0.75×

Altman Z-score

14.14safe

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Cash conversion: 119.1%
Share count change: -1.7%

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$1.5B	−$125.2M	$219.6M	—	214,936,545
FY2021	$2.8B	$35.4M	$360.5M	—	342,763,632
FY2022	$2.8B	−$192.7M	$412.1M	—	371,568,011
FY2023	$3.3B	$356.7M	$1.1B	—	362,589,246
FY2024	$4.7B	$1.6B	$2.1B	—	347,807,555
FY2025

Ownership flow

18 institutions tracked — 8 added, 8 reduced, 2 opened a new position, 2 sold out.

Institutional holders of AppLovin Corp and their share-count change
Manager	Kind	Shares	Change	Value
Capital World Investors	Active fund	8,150,954	+4,971,394	$4.2B
FMR LLC	Active fund	17,293,553	+1,602,139	$8.9B
CITADEL ADVISORS LLC	Hedge fund	4,012,404	−1,051,057	$2.1B
WELLINGTON MANAGEMENT GROUP LLP	Active fund	245,730	−847,328	$126.6M

Identity

CIK: 0001751008
FIGI: BBG006HFPX77
SIC: 7370 · Services-Computer Programming, Data Processing, Etc.
Incorporated: DE
Headquarters: PALO ALTO, CA

Ownership

Institutional: 75.9%
Institutions: 1,957
Insiders: 4.9%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Questions about AppLovin Corp

Is AppLovin Corp financially healthy?: AppLovin Corp scores 7 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of AppLovin Corp?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), FMR LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.