IC Group Holdings vs Applovin: Fair Value & Quality
Both stocks run through our valuation models. Here is how IC Group Holdings (ICGH) and Applovin (APP) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Applovin as the less overvalued of the two: IC Group Holdings trades at C$0.42 versus a fair value of C$0.14 (-68%), while Applovin trades at $347 versus $181 (-48%).
IC Group Holdings
ICGH.V · CAD · Communication Services
-68%
upside to fair value
overvalued
PriceC$0.42
Fair ValueC$0.14
Quality21/100
Applovin
APP · USD · Information Technology
-48%
upside to fair value
overvalued
Price$347
Fair Value$181
Quality92/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
IC Group HoldingsApplovin
Valuation
—P/E (TTM)45.3×
0.44×P/S (TTM)27.63×
1.78×P/B—
—EV/EBITDA35.2×
—PEG1.43×
Profitability
-6%Net margin64%
-3%Operating margin78%
-29%Return on equity266%
-2%Return on assets44%
Growth
29%Revenue growth (YoY)59%
32.3%Avg. growth/yr (3Y)24.8%
—Avg. growth/yr (5Y)30.4%
Balance & size
1.04×Debt / equity1.65×
$13MMarket cap$170B
mixedGrowth qualityhealthy
Applovin leads: 3 to 5 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
IC Group Holdingsof which business quality 28 · market factors 20Applovinof which business quality 86 · market factors 15
ProfitabilityMargins and returns on capital today
25
91
Quality GrowthAre margins and returns improving?
57
98
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
32
81
Low VolatilityCalm price path (market factor)
50
0
MomentumPrice trend over the last 3–12 months (market factor)
7
27
52W MomentumDistance to the 52-week high (market factor)
6
11
Net IssuanceBuybacks instead of dilution
4
98
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
IC Group Holdings
DCF ModelsC$0.29
MultiplesC$0.19
Asset-BasedC$0.12
Growth DCFC$0.32
7 of 7 models see the stock below the current price.
Applovin
DCF Models$359
Earnings-Based$382
Dividend Discount$0.17
Multiples$113
Asset-Based$4.68
Growth DCF$402
Economic Profit$155
Growth Earnings$492
16 of 25 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
IC Group Holdings
Bear C$0.07Fair Value C$0.14Bull C$0.20
C$0.42 = current price (white tick)
Applovin
Bear $135Fair Value $181Bull $474
$347 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
IC Group Holdings · Communication Services
Quality score21 · bottom 25%
Fair value upside-68% · bottom 25%
Applovin · Information Technology
Quality score92 · Top 25%
Fair value upside-48% · below median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Applovin as the less overvalued of the two: IC Group Holdings trades at C$0.42 versus a fair value of C$0.14 (-68%), while Applovin trades at $347 versus $181 (-48%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
