APP vs SNAP
AppLovin Corp. and Snap Inc., side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | APP | SNAP |
|---|---|---|
| Revenue | $5.5B | $5.9B |
| Net income | $3.3B | $-460.5M |
| Gross margin | 87.9% | 55.0% |
| Net margin | 60.8% | −7.8% |
| Return on equity | 206.8% | −19.5% |
| Diluted EPS | $9.75 | −$0.27 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | · | $437.2M |
| Equity | $2.1B | $2.3B |
| Net debt / equity | 0.48× | 1.10× |
| Current ratio | 3.32× | 3.56× |
| Revenue CAGR 5y | 30.4% | 18.8% |
| Profit CAGR 5y | · | · |
APP and SNAP book revenue within 15% of each other, and SNAP closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | APP | SNAP |
|---|---|---|
| FY2025 | $5.5B | $5.9B |
| FY2024 | $3.2B | $5.4B |
| FY2023 | $1.8B | $4.6B |
| FY2022 | $2.8B | $4.6B |
| FY2021 | $2.8B | $4.1B |
| FY2020 | $1.5B | $2.5B |
| FY2019 | $994.1M | $1.7B |
Bottom line
| Fiscal year | APP | SNAP |
|---|---|---|
| FY2025 | $3.3B | $-460.5M |
| FY2024 | $1.6B | $-697.9M |
| FY2023 | $356.7M | $-1.3B |
| FY2022 | $-192.7M | $-1.4B |
| FY2021 | $35.4M | $-488.0M |
| FY2020 | $-125.2M | $-944.8M |
| FY2019 | $119.0M | $-1.0B |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$450,730,000 | SNAP |
| FY2024 | −$2,137,340,000 | SNAP |
| FY2023 | −$2,764,353,000 | SNAP |
| FY2022 | −$1,784,789,000 | SNAP |
| FY2021 | −$1,323,944,000 | SNAP |
| FY2020 | −$1,055,540,000 | SNAP |
| FY2019 | −$721,430,000 | SNAP |
SNAP has reported the higher revenue in every one of these 7 fiscal years. The gap has narrowed since the earliest year compared.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +68.6 pp | APP |
| FY2024 | +62.0 pp | APP |
| FY2023 | +48.1 pp | APP |
| FY2022 | +24.2 pp | APP |
| FY2021 | +13.1 pp | APP |
| FY2020 | +29.0 pp | APP |
| FY2019 | +72.2 pp | APP |
APP has kept the higher net margin in every one of these 7 fiscal years.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
APP's net margin has been more volatile than SNAP's over the 7 comparable fiscal years — 25.2 percentage points of standard deviation against 17.0.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
APP led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 11 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
APP's return on equity has been more volatile than SNAP's over the 4 comparable fiscal years — 86.7 percentage points of standard deviation against 13.2.
4 of 11 comparable fiscal years — a year missing data on either side is not counted.
Year by year
APP led in return on equity in every one of the 4 comparable fiscal years — a structural lead, not a recent swing.
4 of 11 comparable fiscal years — a year missing data on either side is not counted.