(APPN) Appian - Overview

Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 1.436m USD | Total Return: -34.6% in 12m

Low-code Software, Process Automation, Case Management, Data Fabric
Total Rating 31
Safety 23
Buy Signal 0.91
Software - Infrastructure
Industry Rotation: +18.2
Market Cap: 1.44B
Avg Turnover: 20.9M
Risk 3d forecast
Volatility55.0%
VaR 5th Pctl9.38%
VaR vs Median3.57%
Reward TTM
Sharpe Ratio-0.58
Rel. Str. IBD5.6
Rel. Str. Peer Group23
Character TTM
Beta1.861
Beta Downside2.623
Hurst Exponent0.484
Drawdowns 3y
Max DD65.27%
CAGR/Max DD-0.31
CAGR/Mean DD-0.56
EPS (Earnings per Share) EPS (Earnings per Share) of APPN over the last years for every Quarter: "2021-03": -0.06, "2021-06": -0.24, "2021-09": -0.22, "2021-12": -0.16, "2022-03": -0.06, "2022-06": -0.46, "2022-09": -0.43, "2022-12": -0.28, "2023-03": -0.27, "2023-06": -0.39, "2023-09": -0.2, "2023-12": 0.06, "2024-03": -0.24, "2024-06": -0.26, "2024-09": 0.15, "2024-12": -0.1845, "2025-03": 0.13, "2025-06": 0.0039, "2025-09": 0.32, "2025-12": 0.15, "2026-03": 0.27,
EPS CAGR: 148.12%
EPS Trend: 86.5%
Last SUE: 0.64
Qual. Beats: 0
Revenue Revenue of APPN over the last years for every Quarter: 2021-03: 88.855, 2021-06: 82.999, 2021-09: 92.417, 2021-12: 104.988, 2022-03: 114.266, 2022-06: 110.063, 2022-09: 117.876, 2022-12: 125.786, 2023-03: 135.235, 2023-06: 127.715, 2023-09: 137.094, 2023-12: 145.319, 2024-03: 149.835, 2024-06: 146.45, 2024-09: 154.052, 2024-12: 166.685, 2025-03: 166.426, 2025-06: 170.64, 2025-09: 187.004, 2025-12: 202.867, 2026-03: 202.18,
Rev. CAGR: 17.61%
Rev. Trend: 98.4%
Last SUE: 1.94
Qual. Beats: 8

Warnings

P/E ratio 978.0

Altman Z'' -3.41 < 1.0 - financial distress zone

Tailwinds

Tailwind, Pullback Swing

Description: APPN Appian

Appian Corporation (NASDAQ: APPN) is a Virginia-based software provider specializing in low-code development and business process automation (BPA). Its core offering, the Appian Platform, integrates artificial intelligence, process mining, and data fabric capabilities to help organizations design and optimize complex workflows. The company operates globally across diverse sectors, including financial services, healthcare, and government agencies.

The business model primarily relies on a Software-as-a-Service (SaaS) framework, generating revenue through cloud subscriptions and professional services. This aligns with the broader systems software sectors shift toward recurring revenue models, which prioritize high customer retention and scalable deployment over traditional one-time licensing. Low-code platforms specifically address the global shortage of software developers by allowing non-technical users to build enterprise-grade applications via visual interfaces.

Investors can find more detailed financial metrics and valuation models for Appian on ValueRay. Founded in 1999, the company maintains a significant presence in the public sector, providing specialized solutions for contract lifecycle management and federal acquisitions.

Headlines to Watch Out For
  • Subscription revenue growth driven by transition from professional services to cloud
  • AI and low-code integration accelerates enterprise digital transformation adoption
  • Federal and public sector contract wins stabilize long-term recurring revenue streams
  • Operating margin improvement depends on reducing sales and marketing expense ratios
  • High concentration in financial services makes revenue sensitive to sector volatility
Piotroski VR‑10 (Strict) 5.5
Net Income: 885k TTM > 0 and > 6% of Revenue
FCF/TA: 0.11 > 0.02 and ΔFCF/TA 5.64 > 1.0
NWC/Revenue: 6.72% < 20% (prev 12.87%; Δ -6.14% < -1%)
CFO/TA 0.11 > 3% & CFO 70.3m > Net Income 885k
Net Debt (135.6m) to EBITDA (32.8m): 4.13 < 3
Current Ratio: 1.13 > 1.5 & < 3
Outstanding Shares: last quarter (73.8m) vs 12m ago -0.37% < -2%
Gross Margin: 73.84% > 18% (prev 0.76%; Δ 7.31k% > 0.5%)
Asset Turnover: 125.4% > 50% (prev 106.9%; Δ 18.55% > 0%)
Interest Coverage Ratio: 1.14 > 6 (EBITDA TTM 32.8m / Interest Expense TTM 19.7m)
Altman Z'' -3.41
A: 0.08 (Total Current Assets 454.0m - Total Current Liabilities 402.7m) / Total Assets 623.4m
B: -0.98 (Retained Earnings -612.4m / Total Assets 623.4m)
C: 0.04 (EBIT TTM 22.4m / Avg Total Assets 608.1m)
D: -0.95 (Book Value of Equity -648.6m / Total Liabilities 682.3m)
Altman-Z'' Score: -3.41 = D
Beneish M -2.95
DSRI: 1.06 (Receivables 173.9m/136.0m, Revenue 762.7m/633.6m)
GMI: 1.03 (GM 73.84% / 76.15%)
AQI: 0.94 (AQ_t 0.18 / AQ_t-1 0.19)
SGI: 1.20 (Revenue 762.7m / 633.6m)
TATA: -0.11 (NI 885k - CFO 70.3m) / TA 623.4m)
Beneish M-Score: -2.95 (Cap -4..+1) = A
What is the price of APPN shares? As of May 19, 2026, the stock is trading at USD 21.10 with a total of 1,176,380 shares traded.
Over the past week, the price has changed by +2.78%, over one month by -2.94%, over three months by -12.30% and over the past year by -34.55%.
Is APPN a buy, sell or hold? Appian has received a consensus analysts rating of 3.13. Therefor, it is recommend to hold APPN.
  • StrongBuy: 1
  • Buy: 0
  • Hold: 6
  • Sell: 1
  • StrongSell: 0
What are the forecasts/targets for the APPN price?
Analysts Target Price 27.4 29.9%
Appian (APPN) - Fundamental Data Overview as of 15 May 2026
P/E Trailing = 978.0
P/E Forward = 416.6667
P/S = 1.8827
P/B = 42.8248
Revenue TTM = 762.7m USD
EBIT TTM = 22.4m USD
EBITDA TTM = 32.8m USD
Long Term Debt = 231.2m USD (from longTermDebt, last fiscal year)
Short Term Debt = 13.2m USD (from shortTermDebt, last quarter)
Debt = 285.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 135.6m USD (from netDebt column, last quarter)
Enterprise Value = 1.52b USD (1.44b + Debt 285.6m - CCE 206.0m)
Interest Coverage Ratio = 1.14 (Ebit TTM 22.4m / Interest Expense TTM 19.7m)
EV/FCF = 22.47x (Enterprise Value 1.52b / FCF TTM 67.4m)
FCF Yield = 4.45% (FCF TTM 67.4m / Enterprise Value 1.52b)
FCF Margin = 8.84% (FCF TTM 67.4m / Revenue TTM 762.7m)
Net Margin = 0.12% (Net Income TTM 885k / Revenue TTM 762.7m)
Gross Margin = 73.84% ((Revenue TTM 762.7m - Cost of Revenue TTM 199.5m) / Revenue TTM)
Gross Margin QoQ = 73.09% (prev 72.44%)
Tobins Q-Ratio = 2.43 (Enterprise Value 1.52b / Total Assets 623.4m)
Interest Expense / Debt = 1.46% (Interest Expense 4.17m / Debt 285.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 17.7m (EBIT 22.4m * (1 - 21.00%))
Current Ratio = 1.13 (Total Current Assets 454.0m / Total Current Liabilities 402.7m)
 Debt / Equity = -4.84 (negative equity) (Debt 285.6m / totalStockholderEquity, last quarter -59.0m)
 Debt / EBITDA = 4.13 (Net Debt 135.6m / EBITDA 32.8m)
Debt / FCF = 2.01 (Net Debt 135.6m / FCF TTM 67.4m)
Total Stockholder Equity = -52.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.15% (Net Income 885k / Total Assets 623.4m)
 RoE = -1.70% (negative equity) (Net Income TTM 885k / Total Stockholder Equity -52.1m)
 RoCE = 12.51% (EBIT 22.4m / Capital Employed (Equity -52.1m + L.T.Debt 231.2m))
RoIC = 9.11% (NOPAT 17.7m / Invested Capital 194.3m)
WACC = 10.64% (E(1.44b)/V(1.72b) * Re(12.53%) + D(285.6m)/V(1.72b) * Rd(1.46%) * (1-Tc(0.21)))
Discount Rate = 12.53% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.78 | Cagr: 0.31%
[DCF] Terminal Value 62.02% ; FCFF base≈52.8m ; Y1≈37.8m ; Y5≈20.6m
[DCF] Fair Price = 3.18 (EV 270.3m - Net Debt 135.6m = Equity 134.7m / Shares 42.3m; r=10.64% [WACC]; 5y FCF grow -33.32% → 3.0% )
EPS Correlation: 86.47 | EPS CAGR: 148.1% | SUE: 0.64 | # QB: 0
Revenue Correlation: 98.36 | Revenue CAGR: 17.61% | SUE: 1.94 | # QB: 8
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=-96.68% | Revisions=N/A | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.32 | Chg30d=+15.51% | Revisions=+64% | Analysts=7
EPS current Year (2026-12-31): EPS=0.99 | Chg30d=+10.93% | Revisions=+60% | GrowthEPS=+61.6% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=1.26 | Chg30d=+7.90% | Revisions=+64% | GrowthEPS=+27.4% | GrowthRev=+10.7%
[Analyst] Revisions Ratio: +64%