AppLovin
APP · Advertising
$260.25
1.5%The Trade Desk
TTD · Advertising
$13.00
1.2%The short version
- AppLovin is the larger business, with $5.5B of revenue in fiscal 2025 against $2.9B for The Trade Desk, about 1.9 times as much.
- AppLovin grew revenue faster (70.0%, against 18.5%).
- AppLovin kept more of each dollar of sales as operating profit (75.8% operating margin, against 20.4% operating margin).
- Investors pay more for each dollar of AppLovin’s earnings: a P/E of 20.0x against 15.7x for The Trade Desk.
| Latest fiscal year | APP · FY25 | TTD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $87.7B | $6.1B |
| Revenue | $5.5B | $2.9B |
| Free cash flow | — | $796M |
| Net income | $3.3B | $443M |
| Growth | ||
| Revenue growth | 70.0% | 18.5% |
| 5-year growth | 30.5% | 28.2% |
| Share count change | −1.7% | −1.7% |
| Profitability | ||
| Gross margin | 87.9% | 78.6% |
| Operating margin | 75.8% | 20.4% |
| Net margin | 60.8% | 15.3% |
| FCF margin | — | 27.5% |
| Return on capital | 98.2% | — |
| Return on equity | 206.8% | 16.3% |
| Balance sheet | ||
| Net debt | $1.1B | — |
| Net debt / EBITDA | 0.3x | — |
| Dividends and buybacks | $2.2B | $1.4B |
| Valuation & quality | ||
| P/E | 20.0x | 15.7x |
| Piotroski F-score | 9 | — |
FY16
APP —
TTD $203M
FY17
APP —
TTD $308M
FY18
APP —
TTD $477M
FY19
APP $994M
TTD $661M
FY20
APP $1.5B
TTD $836M
FY21
APP $2.8B
TTD $1.2B
FY22
APP $2.8B
TTD $1.6B
FY23
APP $1.8B
TTD $1.9B
FY24
APP $3.2B
TTD $2.4B
FY25
APP $5.5B
TTD $2.9B
APP
TTD
FY16
APP —
TTD 28.3%
FY17
APP —
TTD 22.5%
FY18
APP —
TTD 22.5%
FY19
APP 19.6%
TTD 17.0%
FY20
APP −4.3%
TTD 17.3%
FY21
APP 5.4%
TTD 10.4%
FY22
APP −1.7%
TTD 7.2%
FY23
APP 41.9%
TTD 10.3%
FY24
APP 59.3%
TTD 17.5%
FY25
APP 75.8%
TTD 20.4%
APP
TTD
FY16
APP —
TTD $68.2M
FY17
APP —
TTD $21.1M
FY18
APP —
TTD $66.8M
FY19
APP $195M
TTD $24.5M
FY20
APP $220M
TTD $331M
FY21
APP $360M
TTD $324M
FY22
APP $412M
TTD $465M
FY23
APP $1.1B
TTD $552M
FY24
APP $2.1B
TTD $641M
FY25
APP —
TTD $796M
APP
TTD
FY16
APP —
TTD —
FY17
APP —
TTD —
FY18
APP —
TTD —
FY19
APP —
TTD —
FY20
APP —
TTD —
FY21
APP 4.5%
TTD —
FY22
APP −0.9%
TTD —
FY23
APP 16.8%
TTD —
FY24
APP 45.3%
TTD —
FY25
APP 98.2%
TTD —
APP
TTD
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.