Applovin Corp (APP) is overvalued and DoubleVerify Holdings Inc (DV) is slightly overvalued.
Both trade above our estimate of their intrinsic value. DV is the closer of the two: -17%, against -51% for APP.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 15.2% (average of 3 methods) values the shares at $217.75; the price of $328.73 is 51% above that value, and 59% of that value comes from beyond year five.
Leak Score 56/100 on 8 of 12 signals
Discounting its cash flows at 9.8% (average of 3 methods) values the shares at $11.43; the price of $13.40 is 17% above that value, and 75% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
| Metric | APP | DV |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $328.73 | $13.40 |
| Intrinsic value | $217.75 | $11.43 |
| Margin of safety | -51% | -17% |
| Leak Score | 56/100 (8/12) | 27/100 (3/12) |
| Market cap | $110.0B | $2.1B |
| Revenue growth, 5 years | 30.4% | 25.1% |
| Operating margin | 77.7% | 12.7% |
| Net margin | 64.6% | 7.7% |
| Return on equity | 203.7% | 5.4% |
| Debt to equity | 1.11 | 0.10 |
| P/E | 25.3x | 37.2x |
| Forward P/E | 16.4x | 23.6x |
| P/B | 34.9x | 1.9x |