PATH
UiPath Inc.
Software - Infrastructure
Market Cap$6.12B
5Y Perf.-84.8%
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Stock Comparison
PATH vs APPN vs PEGA
Revenue, margins, valuation, and 5-year total return — side by side.
APPN
Appian Corporation
Software - Infrastructure
Market Cap$1.76B
5Y Perf.-80.4%
PEGA
Pegasystems Inc.
Software - Application
Market Cap$6.21B
5Y Perf.-42.1%
PATH vs APPN vs PEGA — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PATH | APPN | PEGA |
|---|---|---|---|
| Industry | Software - Infrastructure | Software - Infrastructure | Software - Application |
| Market Cap | $6.12B | $1.76B | $6.21B |
| Revenue (TTM) | $1.61B | $763M | $1.70B |
| Net Income (TTM) | $282M | $885K | $341M |
| Gross Margin | 83.2% | 73.8% | 75.0% |
| Operating Margin | 3.5% | 0.6% | 10.2% |
| Forward P/E | 16.2x | 26.7x | 13.5x |
| Total Debt | $71M | $345M | $76M |
| Cash & Equiv. | $871M | $136M | $212M |
PATH vs APPN vs PEGA — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PATH
APPN
PEGA
| Stock | Apr 21 | May 26 | Return |
|---|---|---|---|
| UiPath Inc. (PATH) | 100 | 15.2 | -84.8% |
| Appian Corporation (APPN) | 100 | 19.6 | -80.4% |
| Pegasystems Inc. (PEGA) | 100 | 57.9 | -42.1% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PATH vs APPN vs PEGA
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: PEGA leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Appian Corporation is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
PATH
UiPath Inc.
The Defensive Pick
PATH is the clearest fit if your priority is sleep-well-at-night.
- Lower volatility, beta 1.34, Low D/E 3.4%, current ratio 2.48x
- -9.7% vs APPN's -21.9%
Best for: sleep-well-at-night
APPN
Appian Corporation
The Income Pick
APPN is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.81
- Rev growth 17.8%, EPS growth 101.3%, 3Y rev CAGR 15.8%
- Beta 0.81, current ratio 1.15x
Best for: income & stability and growth exposure
PEGA
Pegasystems Inc.
The Long-Run Compounder
PEGA carries the broadest edge in this set and is the clearest fit for long-term compounding.
- 188.8% 10Y total return vs APPN's 58.3%
- Lower P/E (13.5x vs 26.7x)
- 20.0% margin vs APPN's 0.1%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | APPN | 17.8% revenue growth vs PATH's 12.7% |
| Value | PEGA | Lower P/E (13.5x vs 26.7x) |
| Quality / Margins | PEGA | 20.0% margin vs APPN's 0.1% |
| Stability / Safety | APPN | Beta 0.81 vs PATH's 1.34 |
| Dividends | PEGA | 0.2% yield; 1-year raise streak; the other 2 pay no meaningful dividend |
| Momentum (1Y) | PATH | -9.7% vs APPN's -21.9% |
| Efficiency (ROA) | PEGA | 23.5% ROA vs APPN's 0.1%, ROIC 27.2% vs 0.3% |
PATH vs APPN vs PEGA — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
PATH vs APPN vs PEGA — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLPEGALAGGINGAPPN
Who Leads Where
PEGA leads in 4 of 6 categories
PATH leads 0 • APPN leads 0 • 1 tied
Explore the data ↓APPNAppian Corporation
0leads
PATHUiPath Inc.
0leads
PEGAPegasystems Inc.
4leads
6 Total Categories
CATEGORYLEADERvs PATHvs APPNMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
PEGA3/6
Valuation MetricsMultiples, price ratios, and targets
PEGA4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
PEGA6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
PEGA4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
PEGA leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PEGA is the larger business by revenue, generating $1.7B annually — 2.2x APPN's $763M. PEGA is the more profitable business, keeping 20.0% of every revenue dollar as net income compared to APPN's 0.1%. On growth, APPN holds the edge at +21.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| RevenueTrailing 12 months | $1.6B | $763M | $1.7B |
| EBITDAEarnings before interest/tax | $74M | $12M | $193M |
| Net IncomeAfter-tax profit | $282M | $885,000 | $341M |
| Free Cash FlowCash after capex | $352M | $67M | $495M |
| Gross MarginGross profit ÷ Revenue | +83.2% | +73.8% | +75.0% |
| Operating MarginEBIT ÷ Revenue | +3.5% | +0.6% | +10.2% |
| Net MarginNet income ÷ Revenue | +17.5% | +0.1% | +20.0% |
| FCF MarginFCF ÷ Revenue | +21.9% | +8.8% | +29.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +13.6% | +21.5% | -9.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +111.1% | -25.8% | -60.0% |
PEGA leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
PEGA leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 17.2x trailing earnings, PEGA trades at a 99% valuation discount to APPN's 1440.0x P/E. On an enterprise value basis, PEGA's 21.0x EV/EBITDA is more attractive than APPN's 190.9x.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| Market CapShares × price | $6.1B | $1.8B | $6.2B |
| Enterprise ValueMkt cap + debt − cash | $5.3B | $2.0B | $6.1B |
| Trailing P/EPrice ÷ TTM EPS | 21.02x | 1440.00x | 17.24x |
| Forward P/EPrice ÷ next-FY EPS est. | 16.23x | 26.74x | 13.52x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — |
| EV / EBITDAEnterprise value multiple | 68.27x | 190.89x | 21.01x |
| Price / SalesMarket cap ÷ Revenue | 3.80x | 2.42x | 3.56x |
| Price / BookPrice ÷ Book value/share | 2.86x | — | 8.62x |
| Price / FCFMarket cap ÷ FCF | 17.38x | 29.54x | 12.65x |
PEGA leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
PEGA leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
PEGA delivers a 50.2% return on equity — every $100 of shareholder capital generates $50 in annual profit, vs $15 for PATH. PATH carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to PEGA's 0.10x. On the Piotroski fundamental quality scale (0–9), PATH scores 8/9 vs APPN's 6/9, reflecting strong financial health.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| ROE (TTM)Return on equity | +15.3% | — | +50.2% |
| ROA (TTM)Return on assets | +10.0% | +0.1% | +23.5% |
| ROICReturn on invested capital | +3.9% | +0.3% | +27.2% |
| ROCEReturn on capital employed | +2.8% | +0.2% | +33.4% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 6 | 8 |
| Debt / EquityFinancial leverage | 0.03x | — | 0.10x |
| Net DebtTotal debt minus cash | -$800M | $210M | -$136M |
| Cash & Equiv.Liquid assets | $871M | $136M | $212M |
| Total DebtShort + long-term debt | $71M | $345M | $76M |
| Interest CoverageEBIT ÷ Interest expense | — | 1.14x | 643.17x |
PEGA leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
PEGA leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PEGA five years ago would be worth $6,170 today (with dividends reinvested), compared to $1,584 for PATH. Over the past 12 months, PATH leads with a -9.7% total return vs APPN's -21.9%. The 3-year compound annual growth rate (CAGR) favors PEGA at 19.0% vs APPN's -12.5% — a key indicator of consistent wealth creation.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| YTD ReturnYear-to-date | -31.2% | -30.2% | -34.4% |
| 1-Year ReturnPast 12 months | -9.7% | -21.9% | -20.8% |
| 3-Year ReturnCumulative with dividends | -18.5% | -33.1% | +68.5% |
| 5-Year ReturnCumulative with dividends | -84.2% | -73.1% | -38.3% |
| 10-Year ReturnCumulative with dividends | -84.2% | +58.3% | +188.8% |
| CAGR (3Y)Annualised 3-year return | -6.6% | -12.5% | +19.0% |
PEGA leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — PATH and APPN each lead in 1 of 2 comparable metrics.
Risk & Volatility
APPN is the less volatile stock with a 0.81 beta — it tends to amplify market swings less than PATH's 1.34 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PATH currently trades 55.1% from its 52-week high vs APPN's 51.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.34x | 0.81x | 1.16x |
| 52-Week HighHighest price in past year | $19.84 | $46.06 | $68.10 |
| 52-Week LowLowest price in past year | $9.28 | $19.79 | $34.34 |
| % of 52W HighCurrent price vs 52-week peak | +55.1% | +51.6% | +53.9% |
| RSI (14)Momentum oscillator 0–100 | 47.2 | 54.3 | 38.8 |
| Avg Volume (50D)Average daily shares traded | 30.5M | 800K | 2.2M |
Evenly matched — PATH and APPN each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: PATH as "Hold", APPN as "Hold", PEGA as "Buy". Consensus price targets imply 54.1% upside for PEGA (target: $57) vs 31.5% for APPN (target: $31). PEGA is the only dividend payer here at 0.23% yield — a key consideration for income-focused portfolios.
| Metric | PATHUiPath Inc. | APPNAppian Corporation | PEGAPegasystems Inc. |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold | Buy |
| Price TargetConsensus 12-month target | $15.82 | $31.25 | $56.60 |
| # AnalystsCovering analysts | 24 | 19 | 23 |
| Dividend YieldAnnual dividend ÷ price | — | — | +0.2% |
| Dividend StreakConsecutive years of raises | — | 1 | 1 |
| Dividend / ShareAnnual DPS | — | — | $0.08 |
| Buyback YieldShare repurchases ÷ mkt cap | +5.4% | +1.1% | +8.3% |
Insufficient data to determine a leader in this category.
Key Takeaway
PEGA leads in 4 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.
Best OverallPegasystems Inc. (PEGA)Leads 4 of 6 categories
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PATH vs APPN vs PEGA: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is PATH or APPN or PEGA a better buy right now?
For growth investors, Appian Corporation (APPN) is the stronger pick with 17.
8% revenue growth year-over-year, versus 12. 7% for UiPath Inc. (PATH). Pegasystems Inc. (PEGA) offers the better valuation at 17. 2x trailing P/E (13. 5x forward), making it the more compelling value choice. Analysts rate Pegasystems Inc. (PEGA) a "Buy" — based on 23 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PATH or APPN or PEGA?
On trailing P/E, Pegasystems Inc.
(PEGA) is the cheapest at 17. 2x versus Appian Corporation at 1440. 0x. On forward P/E, Pegasystems Inc. is actually cheaper at 13. 5x.
03Which is the better long-term investment — PATH or APPN or PEGA?
Over the past 5 years, Pegasystems Inc.
(PEGA) delivered a total return of -38. 3%, compared to -84. 2% for UiPath Inc. (PATH). Over 10 years, the gap is even starker: PEGA returned +188. 8% versus PATH's -84. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PATH or APPN or PEGA?
By beta (market sensitivity over 5 years), Appian Corporation (APPN) is the lower-risk stock at 0.
81β versus UiPath Inc. 's 1. 34β — meaning PATH is approximately 65% more volatile than APPN relative to the S&P 500. On balance sheet safety, UiPath Inc. (PATH) carries a lower debt/equity ratio of 3% versus 10% for Pegasystems Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — PATH or APPN or PEGA?
By revenue growth (latest reported year), Appian Corporation (APPN) is pulling ahead at 17.
8% versus 12. 7% for UiPath Inc. (PATH). On earnings-per-share growth, the picture is similar: UiPath Inc. grew EPS 500. 0% year-over-year, compared to 101. 3% for Appian Corporation. Over a 3-year CAGR, APPN leads at 15. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PATH or APPN or PEGA?
Pegasystems Inc.
(PEGA) is the more profitable company, earning 22. 5% net margin versus 0. 2% for Appian Corporation — meaning it keeps 22. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PEGA leads at 15. 1% versus 0. 1% for APPN. At the gross margin level — before operating expenses — PATH leads at 83. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PATH or APPN or PEGA more undervalued right now?
On forward earnings alone, Pegasystems Inc.
(PEGA) trades at 13. 5x forward P/E versus 26. 7x for Appian Corporation — 13. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PEGA: 54. 1% to $56. 60.
08Which pays a better dividend — PATH or APPN or PEGA?
In this comparison, PEGA (0.
2% yield) pays a dividend. PATH, APPN do not pay a meaningful dividend and should not be held primarily for income.
09Is PATH or APPN or PEGA better for a retirement portfolio?
For long-horizon retirement investors, Appian Corporation (APPN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
81)). Both have compounded well over 10 years (APPN: +58. 3%, PATH: -84. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PATH and APPN and PEGA?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PATH is a small-cap quality compounder stock; APPN is a small-cap high-growth stock; PEGA is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(PATH: 13.6% · APPN: 21.5%)P/E Ratio<
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