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Side-by-side financial comparison of AppLovin Corp (APP) and Microsoft (MSFT). Click either name above to swap in a different company.
Microsoft is the larger business by last-quarter revenue ($81.3B vs $1.3B, roughly 61.0× AppLovin Corp). AppLovin Corp runs the higher net margin — 82.7% vs 47.3%, a 35.4% gap on every dollar of revenue. On growth, Microsoft posted the faster year-over-year revenue change (16.7% vs -2.9%). Over the past eight quarters, Microsoft's revenue compounded faster (14.6% CAGR vs 12.2%).
AppLovin Corporation is an American mobile technology company headquartered in Palo Alto, California. Founded in 2012, the company helps developers market, monetize, analyze and publish their apps through its mobile advertising, marketing, and analytics platforms, SSP MAX; DSP AppDiscovery; and SparkLabs creative studio. The company also invests in various mobile game publishers.
Microsoft Corporation is an American multinational technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the rise of personal computers through software like Windows, and has since expanded to Internet services, cloud computing, artificial intelligence, video gaming, and other fields.
APP vs MSFT — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $81.3B |
| Net Profit | $1.1B | $38.5B |
| Gross Margin | 95.2% | 68.0% |
| Operating Margin | — | 47.1% |
| Net Margin | 82.7% | 47.3% |
| Revenue YoY | -2.9% | 16.7% |
| Net Profit YoY | 84.0% | 59.5% |
| EPS (diluted) | $3.24 | $5.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.3B | $81.3B | ||
| Q3 25 | $1.4B | $77.7B | ||
| Q2 25 | $1.3B | $76.4B | ||
| Q1 25 | $1.5B | $70.1B | ||
| Q4 24 | $1.4B | $69.6B | ||
| Q3 24 | $1.2B | $65.6B | ||
| Q2 24 | $1.1B | $64.7B | ||
| Q1 24 | $1.1B | $61.9B |
| Q4 25 | $1.1B | $38.5B | ||
| Q3 25 | $835.5M | $27.7B | ||
| Q2 25 | $819.5M | $27.2B | ||
| Q1 25 | $576.4M | $25.8B | ||
| Q4 24 | $599.2M | $24.1B | ||
| Q3 24 | $434.4M | $24.7B | ||
| Q2 24 | $310.0M | $22.0B | ||
| Q1 24 | $236.2M | $21.9B |
| Q4 25 | 95.2% | 68.0% | ||
| Q3 25 | 87.6% | 69.0% | ||
| Q2 25 | 87.7% | 68.6% | ||
| Q1 25 | 81.7% | 68.7% | ||
| Q4 24 | 76.7% | 68.7% | ||
| Q3 24 | 77.5% | 69.4% | ||
| Q2 24 | 73.8% | 69.6% | ||
| Q1 24 | 72.2% | 70.1% |
| Q4 25 | — | 47.1% | ||
| Q3 25 | 76.8% | 48.9% | ||
| Q2 25 | 76.1% | 44.9% | ||
| Q1 25 | 44.7% | 45.7% | ||
| Q4 24 | 44.3% | 45.5% | ||
| Q3 24 | 44.6% | 46.6% | ||
| Q2 24 | 36.2% | 43.1% | ||
| Q1 24 | 32.1% | 44.6% |
| Q4 25 | 82.7% | 47.3% | ||
| Q3 25 | 59.5% | 35.7% | ||
| Q2 25 | 65.1% | 35.6% | ||
| Q1 25 | 38.8% | 36.9% | ||
| Q4 24 | 43.6% | 34.6% | ||
| Q3 24 | 36.3% | 37.6% | ||
| Q2 24 | 28.7% | 34.0% | ||
| Q1 24 | 22.3% | 35.5% |
| Q4 25 | $3.24 | $5.16 | ||
| Q3 25 | $2.45 | $3.72 | ||
| Q2 25 | $2.39 | $3.65 | ||
| Q1 25 | $1.67 | $3.46 | ||
| Q4 24 | $1.72 | $3.23 | ||
| Q3 24 | $1.25 | $3.30 | ||
| Q2 24 | $0.89 | $2.94 | ||
| Q1 24 | $0.67 | $2.94 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.5B | $89.5B |
| Total DebtLower is stronger | $3.5B | $40.3B |
| Stockholders' EquityBook value | $2.1B | $390.9B |
| Total Assets | $7.3B | $665.3B |
| Debt / EquityLower = less leverage | 1.65× | 0.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | $89.5B | ||
| Q3 25 | $1.7B | $102.0B | ||
| Q2 25 | $1.2B | $94.6B | ||
| Q1 25 | $551.0M | $79.6B | ||
| Q4 24 | $741.4M | $71.6B | ||
| Q3 24 | $567.6M | $78.4B | ||
| Q2 24 | $460.4M | $75.5B | ||
| Q1 24 | $436.3M | $80.0B |
| Q4 25 | $3.5B | $40.3B | ||
| Q3 25 | — | $43.2B | ||
| Q2 25 | — | $43.2B | ||
| Q1 25 | — | $42.9B | ||
| Q4 24 | $3.5B | $45.0B | ||
| Q3 24 | — | $45.1B | ||
| Q2 24 | — | $44.9B | ||
| Q1 24 | — | $44.9B |
| Q4 25 | $2.1B | $390.9B | ||
| Q3 25 | $1.5B | $363.1B | ||
| Q2 25 | $1.2B | $343.5B | ||
| Q1 25 | $575.4M | $321.9B | ||
| Q4 24 | $1.1B | $302.7B | ||
| Q3 24 | $938.2M | $287.7B | ||
| Q2 24 | $814.8M | $268.5B | ||
| Q1 24 | $760.2M | $253.2B |
| Q4 25 | $7.3B | $665.3B | ||
| Q3 25 | $6.3B | $636.4B | ||
| Q2 25 | $6.0B | $619.0B | ||
| Q1 25 | $5.7B | $562.6B | ||
| Q4 24 | $5.9B | $533.9B | ||
| Q3 24 | $5.4B | $523.0B | ||
| Q2 24 | $5.3B | $512.2B | ||
| Q1 24 | $5.3B | $484.3B |
| Q4 25 | 1.65× | 0.10× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | 3.22× | 0.15× | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.18× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.3B | $35.8B |
| Free Cash FlowOCF − Capex | — | $5.9B |
| FCF MarginFCF / Revenue | — | 7.2% |
| Capex IntensityCapex / Revenue | — | 36.8% |
| Cash ConversionOCF / Net Profit | 1.19× | 0.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $77.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $35.8B | ||
| Q3 25 | $1.1B | $45.1B | ||
| Q2 25 | $772.2M | $42.6B | ||
| Q1 25 | $831.7M | $37.0B | ||
| Q4 24 | $701.0M | $22.3B | ||
| Q3 24 | $550.7M | $34.2B | ||
| Q2 24 | $454.5M | $37.2B | ||
| Q1 24 | $392.8M | $31.9B |
| Q4 25 | — | $5.9B | ||
| Q3 25 | — | $25.7B | ||
| Q2 25 | — | $25.6B | ||
| Q1 25 | — | $20.3B | ||
| Q4 24 | — | $6.5B | ||
| Q3 24 | — | $19.3B | ||
| Q2 24 | — | $23.3B | ||
| Q1 24 | — | $21.0B |
| Q4 25 | — | 7.2% | ||
| Q3 25 | — | 33.0% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 36.0% | ||
| Q1 24 | — | 33.9% |
| Q4 25 | — | 36.8% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | — | 22.3% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 22.7% | ||
| Q3 24 | — | 22.8% | ||
| Q2 24 | — | 21.4% | ||
| Q1 24 | — | 17.7% |
| Q4 25 | 1.19× | 0.93× | ||
| Q3 25 | 1.26× | 1.62× | ||
| Q2 25 | 0.94× | 1.57× | ||
| Q1 25 | 1.44× | 1.43× | ||
| Q4 24 | 1.17× | 0.92× | ||
| Q3 24 | 1.27× | 1.39× | ||
| Q2 24 | 1.47× | 1.69× | ||
| Q1 24 | 1.66× | 1.45× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APP
| Other | $673.9M | 51% |
| US | $659.0M | 49% |
MSFT
| Microsoft Three Six Five Commercial Products And Cloud Services | $24.5B | 30% |
| Products | $16.5B | 20% |
| More Personal Computing | $14.3B | 18% |
| Gaming | $6.0B | 7% |
| Linked In Corporation | $5.1B | 6% |
| Windows And Devices | $4.5B | 6% |
| Search And News Advertising | $3.8B | 5% |
| Microsoft Three Six Five Consumer Products And Cloud Services | $2.3B | 3% |
| Dynamics Products And Cloud Services | $2.2B | 3% |
| Enterprise And Partner Services | $2.0B | 3% |
| Other Products And Services | $6.0M | 0% |
