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NMS · Valuation Lab
APP
AppLovin Corporation
Last$417.80
Market cap140.4B
EV/EBITDA28.2x
Intrinsic value
$1012.25
MoS +58.7% · Undervalued
Assuming 45.0% FCF margin and 59.0% Y1–5 growth.
Upside to price
EV (DCF)310.6B
Terminal share57%
Expected IV$1030.16
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 57% of EV
PV of stage FCFs133.9B
PV of terminal value176.7B
Enterprise value310.6B
Net cash / (debt)-1.1B
Equity value309.5B
Intrinsic value / share$1012.25
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 9.8B | 4.4B | 3.8B | 86.2% |
| Y2 | 15.6B | 7B | 5.2B | 74.3% |
| Y3 | 24.8B | 11.2B | 7.1B | 64.1% |
| Y4 | 39.4B | 17.7B | 9.8B | 55.2% |
| Y5 | 62.6B | 28.2B | 13.4B | 47.6% |
| Y6 | 81.1B | 36.5B | 15B | 41.0% |
| Y7 | 105.1B | 47.3B | 16.7B | 35.4% |
| Y8 | 136B | 61.2B | 18.7B | 30.5% |
| Y9 | 176.2B | 79.3B | 20.8B | 26.3% |
| Y10 | 228.1B | 102.7B | 23.3B | 22.7% |
| Terminal | — | — | 176.7B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.