APP vs. MSTR: AppLovin vs. Strategy Stock Comparison
How do AppLovin (APP) and Strategy (MSTR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
AppLovin (APP) and Strategy (MSTR) are both classified in the Application Software sub-industry within the broader Software industry, placing them in the closest GICS peer bucket.
Strategy (MSTR) has more than two decades of public-market history since June 11, 1998, whereas AppLovin (APP) listed on April 15, 2021 and has a much shorter record to draw on.
| Profile Item | APP | MSTR |
|---|---|---|
| Name | AppLovin Corporation Class A Common Stock | Strategy Inc. |
| Country/Region | United States | United States |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | Software | Software |
| GICS Sub-Industry | Application Software | Application Software |
| Market Capitalization | 129.62 billion USD | 54.57 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | Nasdaq |
| Listing Date | April 15, 2021 | June 11, 1998 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | APP | MSTR |
|---|---|---|
| Total Return (1Y) | -34.71% | -48.13% |
| Total Return (3Y, Annualized) | 116.87% | 36.44% |
| Total Return (5Y, Annualized) | 31.34% | 7.87% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | APP | MSTR |
|---|---|---|
| Volatility (1Y, Annualized) | 80.36% | 82.34% |
| Beta (5Y) | 2.25 | 3.60 |
| Max Drawdown (5Y) | -91.90% | -84.09% |
| Avg. Volume (3M) | 5.33M | 22.35M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | APP | MSTR |
|---|---|---|
| Sharpe Ratio (1Y) | -0.49 | -0.64 |
| Sortino Ratio (1Y) | -0.69 | -0.97 |
Profitability
ROE (TTM)
Strategy (MSTR) reports a negative ROE of -21.59%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile AppLovin (APP) reports 210.09%, ranking against industry peers normally.
APP
Software & Services industry group
210.09%
- APP
- 210.09%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
MSTR
Software & Services industry group
-21.59%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- MSTR
- -21.59%
- Min
- -50.52%
Net Margin (TTM)
AppLovin (APP) at 65.89% converts revenue to bottom-line profit above its industry’s benchmark range, while Strategy (MSTR) at 0.00% keeps roughly the typical share for its industry.
APP
Software & Services industry group
65.89%
- APP
- 65.89%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
MSTR
Software & Services industry group
0.00%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- MSTR
- 0.00%
- Q1
- -5.42%
- Min
- -33.17%
Operating Margin (TTM)
Strategy (MSTR) reports a negative operating margin of -2.07%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile AppLovin (APP) reports 78.22%, ranking against industry peers normally.
APP
Software & Services industry group
78.22%
- APP
- 78.22%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
MSTR
Software & Services industry group
-2.07%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- MSTR
- -2.07%
- Q1
- -2.13%
- Min
- -30.45%
Profitability Metrics
| Metric | APP | MSTR |
|---|---|---|
| ROE (TTM) | 210.09% | -21.59% |
| ROA (TTM) | 49.57% | -4.52% |
| Net Margin (TTM) | 65.89% | 0.00% |
| Operating Margin (TTM) | 78.22% | -2.07% |
| Gross Margin (TTM) | 88.78% | 67.84% |
Growth
Revenue Growth
AppLovin (APP) at 69.99% delivers above-range revenue growth, while Strategy (MSTR) at 2.97% falls into the bottom quartile — a wide split in revenue momentum.
EPS Growth
Only one side can be read here: AppLovin (APP) reports EPS growth of 115.23%, ranked against its industry; Strategy (MSTR) has no EPS growth figure this period.
Growth Metrics
| Metric | APP | MSTR |
|---|---|---|
| Revenue Growth (YoY) | 69.99% | 2.97% |
| Revenue Growth (3Y CAGR) | 24.84% | -1.49% |
| EPS Growth (YoY) | 115.23% | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Both AppLovin (APP) at 3.81 and Strategy (MSTR) at 4.04 post current ratio above their industries’ typical mid-ranges — short-term liquidity appears comfortable, though unusually high readings can point to idle current assets.
APP
Software & Services industry group
3.81
- Max
- 5.11
- APP
- 3.81
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
MSTR
Software & Services industry group
4.04
- Max
- 5.11
- MSTR
- 4.04
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
Debt / Equity (MRQ)
Both AppLovin (APP) at 1.07 and Strategy (MSTR) at 0.10 fund their balance sheets with roughly industry-typical debt-to-equity mixes.
APP
Software & Services industry group
1.07
- Max
- 2.52
- Q3
- 1.13
- APP
- 1.07
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
MSTR
Software & Services industry group
0.10
- Max
- 2.52
- Q3
- 1.13
- Median
- 0.40
- MSTR
- 0.10
- Q1
- 0.07
- Min
- 0.00
Financial Strength Metrics
| Metric | APP | MSTR |
|---|---|---|
| Current Ratio (MRQ) | 3.81 | 4.04 |
| Debt / Equity (MRQ) | 1.07 | 0.10 |
| Net Debt / EBITDA | 0.06 | -- |
Dividends
Dividend Yield (TTM)
Neither AppLovin (APP) nor Strategy (MSTR) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
MSTR
Software & Services industry group
0.00%
- MSTR
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither AppLovin (APP) nor Strategy (MSTR) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
MSTR
Software & Services industry group
0.00%
- MSTR
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | APP | MSTR |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
An earnings multiple is available for just one side: AppLovin (APP) trades at 26.34 times trailing earnings, ranked against its peers, while Strategy (MSTR) has no P/E ratio this period.
APP
Software & Services industry group
26.34
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- APP
- 26.34
- Q1
- 18.77
- Min
- 6.69
MSTR
Software & Services industry group
--
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
- MSTR
- --
P/S Ratio (TTM)
Both look expensive on sales: AppLovin (APP) at 17.04 sits in the upper P/S ratio quartile, and Strategy (MSTR) at 110.23 prices even higher, above its industry range.
APP
Software & Services industry group
17.04
- Max
- 17.91
- APP
- 17.04
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
MSTR
Software & Services industry group
110.23
- MSTR
- 110.23
- Max
- 17.91
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Strategy (MSTR) at 0.98 sits in the lower P/B ratio quartile relative to book while AppLovin (APP) at 39.29 prices above its industry range — a wide valuation gap against assets.
APP
Software & Services industry group
39.29
- APP
- 39.29
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
MSTR
Software & Services industry group
0.98
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- MSTR
- 0.98
- Min
- -3.90
Valuation Metrics
| Metric | APP | MSTR |
|---|---|---|
| P/E Ratio (TTM) | 26.34 | -- |
| P/S Ratio (TTM) | 17.04 | 110.23 |
| P/B Ratio (MRQ) | 39.29 | 0.98 |
| Free Cash Flow Yield (TTM) | 2.87% | -5.94% |