Return on Assets (ROA)
since 2021
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Calculation
AppLovin Corp., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss) attributable to AppLovin1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | = | 100 | × | ÷ | |||
| Dec 31, 2024 | = | 100 | × | ÷ | |||
| Dec 31, 2023 | = | 100 | × | ÷ | |||
| Dec 31, 2022 | = | 100 | × | ÷ | |||
| Dec 31, 2021 | = | 100 | × | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
1 US$ in thousands
The Return on Assets (ROA) exhibited significant fluctuations between 2021 and 2025. A substantial improvement in profitability relative to asset utilization is evident over the analyzed period.
- ROA Trend
- In 2021, the ROA stood at 0.58%. It experienced a marked decline in 2022, registering a negative value of -3.30%. A strong recovery occurred in 2023, with the ROA increasing to 6.66%. This positive trend accelerated in 2024, reaching 26.92%, and continued its upward trajectory in 2025, culminating in an ROA of 45.92%.
- Net Income Relationship
- The ROA trend closely mirrors the fluctuations in net income attributable to AppLovin. The negative ROA in 2022 corresponds with a substantial net loss during that year. Conversely, the increasing ROA from 2023 onwards aligns with progressively higher net income figures. The significant increase in net income from 2023 to 2025 directly drives the substantial improvement in ROA.
- Asset Base Consideration
- Total assets decreased from 2021 to 2023, then increased in 2024 and 2025. While the asset base contracted in the earlier part of the period, the substantial growth in net income more than offset this, leading to improved ROA. The increase in assets in 2024 and 2025 did not hinder the ROA improvement, indicating efficient asset utilization alongside growing profitability.
Overall, the analysis indicates a dramatic improvement in the company’s ability to generate profit from its assets between 2022 and 2025. The trend suggests increasing operational efficiency and/or improved profitability drivers.
Comparison to Competitors
AppLovin Corp., ROA, long-term trends, comparison to competitors
| AppLovin Corp. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | ||||||||||||||||
| Dec 31, 2024 | ||||||||||||||||
| Dec 31, 2023 | ||||||||||||||||
| Dec 31, 2022 | ||||||||||||||||
| Dec 31, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Comparison to Sector (Software & Services)
AppLovin Corp., ROA, long-term trends, comparison to sector (software & services)
| AppLovin Corp. | Software & Services | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Comparison to Industry (Information Technology)
AppLovin Corp., ROA, long-term trends, comparison to industry (information technology)
| AppLovin Corp. | Information Technology | |
|---|---|---|
| Dec 31, 2025 | ||
| Dec 31, 2024 | ||
| Dec 31, 2023 | ||
| Dec 31, 2022 | ||
| Dec 31, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).