AppLovin Corp vs SERVICENOW, INC., two Software stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Where APP and NOW diverge most: on operating margin, APP reads 78.2% and NOW reads 4.1%; on return on equity, APP reads 167.7% and NOW reads 13.3%. The rest of the comparable metrics sit closer together. What APP's price implies is a bet that sits within the historical range (whole-company basis). What NOW's price implies is a somewhat stretched bet versus history (whole-company basis). The bull and bear cases for each are in their full reports below.
| Metric | APP | NOW |
|---|---|---|
| Price | $395.81 | $111.26 |
| Market cap | $134.1B | $115.1B |
| Sector | Software | Software |
| Stage | Growth | Growth |
| Implied growth (priced in) | +43.6% | — |
| P/E | 34.0 | 31.6 |
| P/B | 56.73 | 9.19 |
| P/S | 22.96 | 7.81 |
| EV/EBITDA | 27.2 | 47.1 |
| Revenue growth | +79.8% | +22.1% |
| Gross margin | — | 70.7% |
| Operating margin | 78.2% | 4.1% |
| Net margin | 67.9% | 11.3% |
| Return on equity | 167.7% | 13.3% |
| Return on assets | 51.4% | 5.3% |
| Return on invested capital | 70.6% | 5.7% |
| FCF yield | 3.3% | 4.0% |
| Debt / equity | 1.49 | 0.60 |
| Current ratio | 3.24 | 0.70 |
| Altman Z (solvency) | 8.25 | 4.22 |
| Piotroski F (quality) | 7 / 9 | 5 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.