Measurement guide
How to calculate Apple Ads keyword ROAS
Keyword ROAS is attributed revenue divided by Apple Ads spend for the same keyword, app, market, time basis, and attribution rules. The formula is easy; making the numerator and denominator comparable is the hard part.
Use one comparable cohort.
Do not divide lifetime revenue from an old install cohort by spend from a new calendar window. Choose a cohort or reporting period, document the attribution window, and use the same currency basis.
ROAS = attributed revenue ÷ ad spend.
If a keyword spent $400 and the linked users produced $600 in recognized revenue under the selected window, ROAS is 1.5×. Whether that is profitable still depends on margin, taxes, and expected future revenue.
Treat sparse keyword data carefully.
A keyword with one high-value customer can look exceptional. Add minimum-spend or conversion thresholds, inspect search terms, and compare confidence before moving large budgets.
Common questions
Should I use proceeds or customer price as revenue?
Use one definition consistently. Proceeds are often closer to cash economics, while customer price may be easier to reconcile with product analytics. Label the metric clearly.