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Forensic Analysis · Software & SaaS · as of Nov 9, 2026

AppLovin Corp (APP)

A forensic read on AppLovin Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Safe
Financial health
7.9
Distress distance
Clean
Earnings quality
2
Forensic signals
206.8%
ROE
70.0%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

AppLovin Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 7.9, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

55% of OCF
FY2025
Shareholder returns. Returned $2.2B to shareholders (buybacks + dividends) in FY2025 — 55% of operating cash flow. Capex isn't disclosed for FY2025, so this is the ceiling on coverage, not the free-cash-flow payout — actual free-cash coverage is tighter than this reads.
$189M
FY2025
Goodwill impairments. Took $189M of goodwill writedowns across 1 year (FY2025 ($189M)) — about 6% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$5.48B
Revenue Growth YoY+70.0%
Revenue CAGR (2yr)+72.5%
Net Margin60.8%
Return on Equity206.8%
Debt / Equity1.65x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.