Applovin vs Atlassian
Atlassian is the larger business, with $6.57bn of revenue in fiscal 2026 against $5.48bn for Applovin (1.2 times as much). Applovin grew faster (70.0% against 26.0%). Applovin kept more of each dollar of sales as profit: a net margin of 60.8% against -0.8%. Atlassian carries less debt relative to equity (93.5% against 166.3%).
| Latest fiscal year | ApplovinAPP, 2025 | AtlassianTEAM, 2026 |
|---|---|---|
| Revenue | $5.48bn | $6.57bn |
| Revenue growth | 70.0% | 26.0% |
| Net income | $3.33bn | −$53.8m |
| Operating margin | 75.8% | 0.2% |
| Net margin | 60.8% | -0.8% |
| Return on equity | — | -4.5% |
| Free cash flow | $3.97bn | $1.32bn |
| Cash | $2.49bn | $1.24bn |
| Total debt | $3.55bn | $990m |
| Debt to equity | 166.3% | 93.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $2.19bn | $1.80bn |
| Employees | 788 | 13,301 |
| Market value | $76.73bn | $47.31bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 52 (Moderate) | 48 (Moderate) |
| Insider trades, 12 months | 0 buys, 696 sales | 2 buys, 912 sales |