Mulya.ai
Ticker
APP
Scenario
Key Inputs
Revenue est.?Analysttaper yr4
OP margin est.?hist_ind
Reinvestment est.?projected
R&D capitalizedYes · 5yr amort
Leases factoredNo
Key Assumptions
WACC ?12.8%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?1.943
Beta (levered) ?1.988
Terminal OM% ?26.8%
Segment conc. ?68% dominant
Terminal growth ?4.1%
Bond rating ?AAA · 0.60%
ROIC option ?Opt 4 · 23.6%
Prob of failure ?0.0%
Pipeline validated · 2026-05-17

APP · AppLovin Corporation

$386.372026-05-17
Sector: Technology; Industry: Software - Application; Sub-Industry: Application Software

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)
Bull
$176
-54.4% vs market
Base · active
$197
-49.0% vs market
Bear
$76
-80.3% vs market
Mulya.ai vs Analyst IV Comparison?
Bear $76
Bull $176
Base $197
Market $386
Median $700
Market Price $386
Mulya.ai Base $197
Analysts Median $700
Mulya.ai IV range ($76 · $176)
Analysts Range ($340 · $835)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2021.Q4$2.8B5.4%23.7%$114MM−$751MM−$636MM16.4%1.9%$6.1B$0.10
2022.Q4$2.8B0.9%-1.7%6.0%−$45MM−$656MM−$701MM15.5%-0.7%$7.1B$-0.57
2023.Q4$3.3B16.5%19.7%6.3%$608MM$714MM$1.3B14.7%8.3%$7.5B$1.05
2024.Q4$4.7B43.4%39.8%0.0%$1.9B$640MM$2.5B15.2%24.7%$7.7B$4.65
2025.Q4$5.8B23.3%68.5%13.0%$3.5B$496MM$4.0B15.8%56.4%$4.5B$9.8133.0
italics below = DCF projection · 10yr Rev CAGR: 18%
2026.Q4$8.0B+38.1%68.5%13.7%$4.7B$0MM$4.7B12.4%$4.2B104.3%$4.5B$13.9427.7
2027.Q4$10.3B+28.8%64.7%14.4%$5.7B$0MM$5.7B12.0%$4.5B125.9%$4.5B$16.8223.0
2028.Q4$12.9B+25.3%60.9%15.1%$6.7B$0MM$6.7B11.7%$4.8B147.2%$4.5B$19.6719.6
2029.Q4$15.8B+22.2%57.1%15.8%$7.6B$0MM$7.6B11.3%$4.9B167.3%$4.5B$22.3617.3
2030.Q4$18.8B+19.2%53.3%16.5%$8.4B$0MM$8.4B10.9%$4.8B184.6%$4.5B$24.6815.7
Term. Yr+$31.7B4.1%26.8%20.0%$6.8B−$1.2B$5.6B8.6%$45.1B23.6%
Active scenario IV: $197 (-49.0% vs market)