APP
AppLovin Corporation
APP has the edge over V overall, supported by stronger valuation and stronger fundamentals.
V
Visa Inc.
V has lower modeled downside risk, despite its lower overall score.
APP Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
APP's revenue, profitability, cash flow and balance sheet are all currently strong.
V Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
V's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like V.
APP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $394 | — |
| Current | 26x | $394 | — |
| Cheap | 42x | $618 | +57% |
| Fair | 66x | $978 | +148% |
| Expensive | 137x | $2,040 | +418% |
Historical ranges are pointers, not guarantees.
APP's PE is in its cheap range at 26x. If earnings grow as analysts expect, today's price would be 20x next year's earnings.
V PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 28x | $420 | — |
| Cheap | 30x | $371 | -12% |
| Fair | 33x | $402 | -4.4% |
| Current | 34x | $420 | — |
| Expensive | 38x | $474 | +13% |
Historical ranges are pointers, not guarantees.
V has the edge over APP in the historical PE scenario, which offers more potential upside but is not a forecast.
APP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for APP, with profitability improving.
V Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for V, with profitability improving.
APP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $19.62 | +32% |
| Q3 2026 | $14.86 | +81% |
| Q2 2026 | $13.01 | +85% |
| Q1 2026 | $11.64 | +110% |
| Q4 2025 | $9.75 | +115% |
| Q3 2025 | $8.23 | +151% |
| Q2 2025 | $7.03 | +202% |
| Q1 2025 | $5.53 | +233% |
| Q4 2024 | $4.53 | +362% |
APP has the edge over V on earnings, with stronger typical year-over-year growth.
V Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.01 | +22% |
| Q3 2026 | $12.32 | +21% |
| Q2 2026 | $11.76 | +15% |
| Q1 2026 | $11.48 | +15% |
| Q4 2025 | $10.66 | +7.5% |
| Q3 2025 | $10.21 | +4.9% |
| Q2 2025 | $10.24 | +9.5% |
| Q1 2025 | $9.95 | +11% |
| Q4 2024 | $9.92 | +14% |
V's earnings per share have climbed steadily: $12.32 over the past year, up 21% from the year before, and higher year over year for 21 quarters in a row.
APP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +55% |
| Q2 2026 | $1.9B | +53% |
| Q1 2026 | $1.8B | +24% |
| Q4 2025 | $1.7B | +21% |
| Q3 2025 | $1.4B | +17% |
| Q2 2025 | $1.3B | +17% |
| Q1 2025 | $1.5B | +40% |
| Q4 2024 | $1.4B | +44% |
APP has the edge over V on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 78% | +1.4 points |
| Q2 2026 | 78% | +1.6 points |
| Q1 2026 | 78% | +33 points |
| Q4 2025 | 77% | +33 points |
| Q3 2025 | 77% | +32 points |
| Q2 2025 | 76% | +40 points |
| Q1 2025 | 45% | +13 points |
| Q4 2024 | 44% | +16 points |
APP has the edge over V on profitability, with a higher operating margin.
V Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.1B | +13% |
| Q2 2026 | $11.6B | +14% |
| Q1 2026 | $11.2B | +17% |
| Q4 2025 | $10.9B | +15% |
| Q3 2025 | $10.7B | +12% |
| Q2 2025 | $10.2B | +14% |
| Q1 2025 | $9.6B | +9.3% |
| Q4 2024 | $9.5B | +10% |
V's revenue has grown year over year for 22 quarters in a row: $12.1B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 60% | +2.5 points |
| Q2 2026 | 59% | -1.6 points |
| Q1 2026 | 64% | +7.8 points |
| Q4 2025 | 62% | -3.8 points |
| Q3 2025 | 57% | -8.7 points |
| Q2 2025 | 61% | -6 points |
| Q1 2025 | 57% | -4.4 points |
| Q4 2024 | 66% | -3.4 points |
V's operating margin was 60% last quarter, up 2.5 points from the same quarter a year ago.
APP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +36% |
| Q2 2026 | $869M | +13% |
| Q1 2026 | $1.3B | +55% |
| Q3 2025 | $1.1B | +91% |
| Q2 2025 | $772.2M | +70% |
| Q1 2025 | $831.7M | +112% |
| Q3 2024 | $550.7M | +177% |
| Q2 2024 | $454.5M | +101% |
APP has the edge over V on cash flow, with more consistent year-over-year improvement.
V Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.9B | +18% |
| Q2 2026 | $6.1B | -2.7% |
| Q1 2026 | $2.6B | -40% |
| Q4 2025 | $6.4B | +27% |
| Q3 2025 | $5.8B | -8% |
| Q2 2025 | $6.3B | +33% |
| Q1 2025 | $4.4B | +2.6% |
| Q4 2024 | $5.1B | +51% |
V's free cash flow was $22.1B over the past year, up 2.2% from the year before. Free cash flow isn't a meaningful measure for financial services companies like V.
APP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -2.3M shares |
| 1 year | -1.8% | -6.2M shares |
| 3 years | -6.2% | -22.1M shares |
| 5 years | -13% | -49.6M shares |
| Available history | +67% | +134M shares |
APP has 335M diluted shares, down 1.8% from a year ago, with $3.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.3B |
| Q2 2026 | $551.2M |
| Q1 2026 | $981.7M |
| Q4 2025 | $417.6M |
| Q3 2025 | $501.9M |
| Q2 2025 | $271.5M |
| Q1 2025 | $1B |
| Q4 2024 | $625,000 |
APP spent $3.2B buying back its own shares over the past year, up 82% from the year before.
V Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -7% | -136M shares |
| 1 year | -7.6% | -148M shares |
| 3 years | -13% | -268M shares |
| 5 years | -17% | -378M shares |
| Available history | -20% | -443M shares |
V has the edge over APP on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4B |
| Q2 2026 | $4.8B |
| Q1 2026 | $7.9B |
| Q4 2025 | $3.7B |
| Q3 2025 | $4.9B |
| Q2 2025 | $4.8B |
| Q1 2025 | $4.6B |
| Q4 2024 | $4B |
V spent $20.5B buying back its own shares over the past year, up 12% from the year before.
APP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.2x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.2x | Healthy |
APP has the edge over V on leverage, with a lower net debt burden relative to earnings.
V Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
V's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like V.
APP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.4 | Neutral |
| Stochastic | 56.4 | Neutral |
APP's weekly RSI is 53 (neutral) and its Stochastic is 56 (neutral).
V Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.7 | Overbought |
| Stochastic | 82.0 | Overbought |
V's weekly RSI is 74 (overbought) and its Stochastic is 82 (overbought).
APP PE vs Technology Sector
| Metric | APP | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 28x | 4.9% below |
| PE % | 7 | 42 | 35 pts below |
APP has the edge over V on valuation relative to its sector.
V PE vs Financial Services Sector
| Metric | V | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 13x | 162% above |
| PE % | 62 | 63 | 1 pt below |
V is trading at 34x earnings, a 162% premium to the Financial Services sector's median of 13x.
APP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $299.5 | 31% above |
| 20 week MA | $344.0 | 14% above |
| 50 week MA | $443.5 | 11% below |
| 100 week MA | $429.4 | 8.3% below |
| 200 week MA | $250.0 | 57% above |
APP's trend is mixed: it's above three of its five weekly moving averages, and 57% above its 200-week average.
V Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $397.6 | 5.7% above |
| 20 week MA | $378.3 | 11% above |
| 50 week MA | $346.0 | 21% above |
| 100 week MA | $343.7 | 22% above |
| 200 week MA | $300.6 | 40% above |
V has the edge over APP on trend strength, trading above more of its moving averages.
APP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $61.0 | $93.8 | +54% |
| 2022 | $93.8 | $9.84 | -90% |
| 2023 | $9.84 | $39.9 | +305% |
| 2024 | $39.9 | $335.2 | +741% |
| 2025 | $335.2 | $714.2 | +113% |
| 2026 YTD | $714.2 | $393.7 | -45% |
APP's yearly returns have swung widely, from +741% in 2024 to −90% in 2022. It's down 45% so far in 2026.
V Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $189.4 | $208.7 | +10% |
| 2021 | $208.7 | $216.6 | +3.8% |
| 2022 | $216.6 | $205.8 | -5% |
| 2023 | $205.8 | $260.4 | +26% |
| 2024 | $260.4 | $318.7 | +22% |
| 2025 | $318.7 | $355.0 | +11% |
| 2026 YTD | $355.0 | $420.3 | +18% |
V has the edge over APP on returns for 2026, with the stronger performance.