APPN Stock Analysis: Appian | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 1.490m USD | 12M Return: -24.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 22.3M
Qual. Beats: 0
Rev. Trend: 99.5%
Qual. Beats: 8
Warnings
Tailwinds
Seasonality 9.1 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
Appian Corporation (NASDAQ: APPN) is a McLean, Virginia-based enterprise software company founded in 1999 that provides The Appian Platform, an integrated automation solution used by organizations to design, automate, and optimize business processes. The company generates revenue from cloud subscriptions bundled with maintenance, support, and hosting, license subscriptions with associated support, and professional services. Its platform combines low-code application development-where software is built largely through graphical interfaces with minimal hand-coding-alongside artificial intelligence, data fabric, process automation, intelligent document processing, process mining, process intelligence, and case management capabilities.
Appian serves customers across financial services, government, life sciences, insurance, manufacturing, energy, healthcare, telecommunications, and transportation, offering vertical solutions such as federal acquisition, public sector case management, state and local e-procurement, contract lifecycle management, insurance connected underwriting, and insurance claims processing. The company operates in the United States and numerous international markets across the Americas, Europe, and Asia-Pacific, and collaborates with Deloitte on AI-powered policing solutions. Listed in 2017, Appian is a small-cap stock classified within the GICS Information Technology sector under Systems Software.
- Cloud subscription revenue growth drives recurring revenue mix
- Federal government contract wins expand public sector bookings
- Competition from ServiceNow and Microsoft pressures market share
| Net Income: 885k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 5.07 > 1.0 |
| NWC/Revenue: 6.72% < 20% (prev 12.87%; Δ -6.14% < -1%) |
| CFO/TA 0.11 > 3% & CFO 66.7m > Net Income 885k |
| Net Debt (146.0m) to EBITDA (35.2m): 4.15 < 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 76.15%; Δ -2.31% > 0.5%) |
| Asset Turnover: 125.4% > 50% (prev 106.9%; Δ 18.55% > 0%) |
| Interest Coverage Ratio: 1.30 > 6 (EBIT TTM 25.7m / Interest Expense TTM 19.7m) |
| 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 25.7m / Avg Total Assets 608.1m) |
| D: -0.09 (Book Value of Equity -59.0m / Total Liabilities 682.3m) |
| Altman-Z'' = -2.47 = D |
| DSRI: 1.06 (Receivables 173.9m/136.0m, Revenue 762.7m/633.6m) |
| GMI: 1.03 (GM 76.15% / 73.84%) |
| 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 66.7m) / TA 623.4m) |
| Beneish M = -2.85 (Cap -4..+1) = A |
As of June 30, 2026, the stock is trading at USD 22.48 with a total of 935,137 shares traded. Over the past week, the price has changed by +13.14%, over one month by -3.93%, over three months by -5.63% and over the past year by -24.72%.
Current recommended Stop Loss: 18.60 (which is 17.3% or 2.7 ATR below the current price).
Appian has received a consensus analysts rating of 3.13. Therefore, it is recommended to hold APPN.
- StrongBuy: 1
- Buy: 0
- Hold: 6
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 26.2 | 16.5% |
P/E Trailing = 1015.0
P/E Forward = 416.6667
P/S = 1.954
P/B = 42.8248
Revenue TTM = 762.7m USD
EBIT TTM = 25.7m USD
EBITDA TTM = 35.2m USD
Long Term Debt = 228.8m USD (from longTermDebt, last quarter)
Short Term Debt = 22.8m USD (from shortTermDebt, last quarter)
Debt = 352.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 56.8m
Net Debt = 146.0m USD (calculated: Debt 352.0m - CCE 206.0m)
Enterprise Value = 1.64b USD (1.49b + Debt 352.0m - CCE 206.0m)
Interest Coverage Ratio = 1.30 (Ebit TTM 25.7m / Interest Expense TTM 19.7m)
EV/FCF = 25.61x (Enterprise Value 1.64b / FCF TTM 63.9m)
FCF Yield = 3.90% (FCF TTM 63.9m / Enterprise Value 1.64b)
FCF Margin = 8.38% (FCF TTM 63.9m / 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 = 2.62 (Enterprise Value 1.64b / Total Assets 623.4m)
Interest Expense / Debt = 5.60% (Interest Expense 19.7m / Debt 352.0m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 20.3m (EBIT 25.7m * (1 - 21.00%))
Current Ratio = 1.13 (Total Current Assets 454.0m / Total Current Liabilities 402.7m)
Debt / Equity = -5.97 (negative equity) (Debt 352.0m / totalStockholderEquity, last quarter -59.0m)
Debt / EBITDA = 4.15 (Net Debt 146.0m / EBITDA 35.2m)
Debt / FCF = 2.29 (Net Debt 146.0m / FCF TTM 63.9m)
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 = 14.51% (EBIT 25.7m / Capital Employed (Equity -52.1m + L.T.Debt 228.8m))
RoIC = 9.87% (NOPAT 20.3m / Invested Capital 205.4m)
WACC = 10.80% (E(1.49b)/V(1.84b) * Re(12.31%) + D(352.0m)/V(1.84b) * Rd(5.60%) * (1-Tc(0.21)))
Discount Rate = 12.31% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.78 | Cagr: 0.31%
[DCF] Terminal Value 70.46% ; FCFF base≈50.6m ; Y1≈58.0m ; Y5≈85.4m
[DCF] Fair Price = 17.72 (EV 895.9m - Net Debt 146.0m = Equity 749.9m / Shares 42.3m; r=10.80% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.61 | # QB: 0
Revenue Correlation: 99.52 | Revenue CAGR: 15.30% | SUE: 1.94 | # QB: 8
EPS next Quarter (2026-09-30): EPS=0.32 | Chg30d=+14.16% | Revisions=+64% | Analysts=7
EPS current Year (2026-12-31): EPS=0.99 | Chg30d=+10.23% | Revisions=+60% | GrowthEPS=+61.6% | GrowthRev=+13.6%
EPS next Year (2027-12-31): EPS=1.26 | Chg30d=+7.84% | Revisions=+64% | GrowthEPS=+27.4% | GrowthRev=+10.7%
[Analyst] Revisions Ratio: +64%