AppLovin vs Alphabet (APP vs GOOG)
Side by side from their SEC filings: revenue, margins, growth, returns and valuation, plus short interest, insider activity and institutional ownership.
Alphabet is the larger company by revenue ($402.8B vs $5.5B) and market value ($4.3T vs $148.8B). AppLovin has grown revenue faster over the last 4 fiscal years (+96.2% cumulative vs +56.4%). AppLovin runs the higher operating margin (75.8% vs 32.0%). Alphabet trades at the lower trailing P/E (27.1x vs 38.5x).
About AppLovin
AppLovin Corp provides artificial intelligence-powered advertising solutions that help businesses reach, monetize, and grow their global audiences. Its main products include Axon Ads Manager for user acquisition, MAX for in-app bidding and monetization, Adjust for marketing measurement and analytics, and Wurl for connected TV advertising and content distribution. The company serves advertisers and publishers, particularly in the mobile app and streaming video industries.
About Alphabet
Alphabet Inc. operates as a collection of businesses, with its largest segment being Google. Google provides services including Search, YouTube, advertising platforms, Android, Chrome, and devices like the Pixel series, serving users worldwide. Alphabet also offers Google Cloud services to businesses, delivering cloud computing solutions and productivity tools.
Head to head (APP FY2025 vs GOOG FY2025)
| Metric | APPFY2025 | GOOGFY2025 |
|---|---|---|
| Revenue | $5.48B | $402.84B |
| Revenue growth (YoY) | 70.0% | 15.1% |
| Gross margin | 87.9% | 59.7% |
| Operating margin | 75.8% | 32.0% |
| Net margin | 60.8% | 32.8% |
| Net income | $3.33B | $132.17B |
| Diluted EPS | $9.75 | $10.81 |
| FCF margin | — | 18.2% |
| ROE | 156.2% | 31.8% |
| Debt / equity | 1.6× | 0.1× |
| Market cap | $148.77B | $4.33T |
| P/E (TTM) | 38.5× | 27.1× |
Fundamentals are from each company’s SEC filings (APP FY2025, GOOG FY2025). P/E and market cap are derived from recent market prices and update daily.
Five-year trend (as reported)
| Revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| APP | $2.79B | $2.82B | $1.84B | $3.22B | $5.48B |
| GOOG | $257.64B | $282.84B | $307.39B | $350.02B | $402.84B |
Peer standing
Where each company ranks among the 330 software companies, on the same scale. Each figure is ranked only against peers that report it. Percentiles describe position in the distribution, not a rating.
| Metric | APP | GOOG |
|---|---|---|
| Gross margin | 87.9%97th percentile of 261 | 59.7%38th percentile of 261 |
| Operating margin | 75.8%Highest of 302 | 32.0%95th percentile of 302 |
| Net margin | 60.8%98th percentile of 306 | 32.8%93rd percentile of 306 |
| Revenue growth (YoY) | +70.0%95th percentile of 323 | +15.1%62nd percentile of 323 |
| ROE | 156.2%98th percentile of 283 | 31.8%88th percentile of 283 |
| P/E (TTM) | 38.5×65th percentile of 171 | 27.1×52nd percentile of 171 |
| Debt / equity | 1.65×84th percentile of 125 | 0.11×21st percentile of 125 |
| Short interest (days to cover) | 2.07d29th percentile of 329 | 1.99d27th percentile of 329 |
Short interest
| FINRA settlement data | APP | GOOG |
|---|---|---|
| Shares sold short | 12.1M | 58.5M |
| Change vs prior settlement | -5.7% | +10.9% |
| Days to cover | 2.07 | 1.99 |
| As of settlement | 2026-06-30 | 2026-06-30 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data; republishing or redistributing it is not permitted. Not presented as a percentage of float. No FINRA endorsement of this product is implied.
Insider activity (last 90 days)
| Form 4 open-market activity | APP | GOOG |
|---|---|---|
| Buys | 0 | — |
| Sells | 211 ($197.3M) | — |
Open-market purchases and sales reported on SEC Form 4 (grants, exercises and tax withholding excluded). For context, about 16% of covered companies saw any open-market insider buy in a 90-day window.
Held by the same investors
7 tracked 13F managers hold both AppLovin and Alphabet as of their latest quarterly filings: AQR Capital Management, Citadel Advisors, Coatue Management, D. E. Shaw, Gotham Asset Management, Millennium Management, Renaissance Technologies. See which superinvestors hold your own portfolio with the smart money checker.
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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filings before relying on them. Comparisons are descriptive (higher or lower on a reported figure), not a rating or a recommendation. Informational only. Not investment advice.