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AppLovin vs Meta Platforms: revenue, profit, margins and growth compared

AppLovin brought in $5.5B of revenue in fiscal 2025, Meta Platforms $201B in fiscal 2025. Revenue changed by +70.0% at AppLovin and +22.2% at Meta Platforms on the year before, so AppLovin grew faster. AppLovin kept 60.8% of its revenue as net profit, Meta Platforms 30.1%.

Side by side, latest fiscal year

APPMETA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.5B$201B
Revenue growth+70.0%+22.2%
Net income$3.3B$60.5B
Net margin60.8%30.1%
Free cash flown/a$46.1B
Free cash flow marginn/a22.9%
Earnings per share (diluted)$9.75$23.49
Cash$2.5B$35.9B
Debt$3.5B$58.7B
Price to earnings31.932.0
Market value$104B$1.91T
Dividend yieldn/a0.28%
Rank by revenue in sector#84 of 530 · Technology#5 of 530 · Technology

Over the years

Revenue
APP FY2019: $994.1MAPP FY2021: $1.5BAPP FY2021: $2.8BAPP FY2022: $2.8BAPP FY2023: $1.8BAPP FY2024: $3.2BAPP FY2025: $5.5BMETA FY2018: $55.8BMETA FY2019: $70.7BMETA FY2020: $86BMETA FY2021: $117.9BMETA FY2022: $116.6BMETA FY2023: $134.9BMETA FY2024: $164.5BMETA FY2025: $201BFY18FY19FY20FY21FY22FY23FY24FY25
APP $5.5BMETA $201B
Net income
APP FY2019: $119MAPP FY2021: -$125.2MAPP FY2021: $35.4MAPP FY2022: -$192.7MAPP FY2023: $356.7MAPP FY2024: $1.6BAPP FY2025: $3.3BMETA FY2018: $22.1BMETA FY2019: $18.5BMETA FY2020: $29.1BMETA FY2021: $39.4BMETA FY2022: $23.2BMETA FY2023: $39.1BMETA FY2024: $62.4BMETA FY2025: $60.5BFY18FY19FY20FY21FY22FY23FY24FY25
APP $3.3BMETA $60.5B
Net margin
APP FY2019: 12.0%APP FY2021: -8.6%APP FY2021: 1.3%APP FY2022: -6.8%APP FY2023: 19.4%APP FY2024: 49.0%APP FY2025: 60.8%META FY2018: 39.6%META FY2019: 26.1%META FY2020: 33.9%META FY2021: 33.4%META FY2022: 19.9%META FY2023: 29.0%META FY2024: 37.9%META FY2025: 30.1%FY18FY19FY20FY21FY22FY23FY24FY25
APP 60.8%META 30.1%
Revenue growth
APP FY2021: +46.0%APP FY2021: +92.5%APP FY2022: +0.9%APP FY2023: -34.6%APP FY2024: +75.1%APP FY2025: +70.0%META FY2019: +26.6%META FY2020: +21.6%META FY2021: +37.2%META FY2022: -1.1%META FY2023: +15.7%META FY2024: +21.9%META FY2025: +22.2%FY19FY20FY21FY22FY23FY24FY25
APP +70.0%META +22.2%
Free cash flow
APP FY2019: $195.1MAPP FY2021: $219.6MAPP FY2021: $360.5MAPP FY2022: $412.1MAPP FY2023: $1.1BAPP FY2024: $2.1BMETA FY2018: $15.4BMETA FY2019: $21.2BMETA FY2020: $23.6BMETA FY2021: $39BMETA FY2022: $19.3BMETA FY2023: $44.1BMETA FY2024: $54.1BMETA FY2025: $46.1BFY18FY19FY20FY21FY22FY23FY24FY25
APP $2.1BMETA $46.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about AppLovin and Meta Platforms

Which is bigger by revenue, AppLovin or Meta Platforms?

Meta Platforms is bigger by revenue: $201B in fiscal 2025, against $5.5B for AppLovin in fiscal 2025.

Which keeps more of its revenue as profit, AppLovin or Meta Platforms?

AppLovin had a net margin of 60.8% in fiscal 2025; Meta Platforms had 30.1% in fiscal 2025.

Which grew revenue faster, AppLovin or Meta Platforms?

In their latest fiscal years revenue changed by +70.0% at AppLovin and +22.2% at Meta Platforms.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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