Software - Infrastructure
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PATH vs APPN
Revenue, margins, valuation, and 5-year total return — side by side.
Software - Infrastructure
PATH vs APPN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Software - Infrastructure | Software - Infrastructure |
| Market Cap | $5.88B | $1.72B |
| Revenue (TTM) | $1.61B | $691M |
| Net Income (TTM) | $282M | $-7M |
| Gross Margin | 83.2% | 76.3% |
| Operating Margin | 3.5% | 0.9% |
| Forward P/E | 15.6x | 26.1x |
| Total Debt | $71M | $290M |
| Cash & Equiv. | $871M | $136M |
PATH vs APPN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Apr 21 | May 26 | Return |
|---|---|---|---|
| UiPath Inc. (PATH) | 100 | 14.6 | -85.4% |
| Appian Corporation (APPN) | 100 | 19.1 | -80.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PATH vs APPN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
PATH carries the broadest edge in this set and is the clearest fit for value and quality.
- Lower P/E (15.6x vs 26.1x)
- 17.5% margin vs APPN's -1.1%
- -11.2% vs APPN's -24.4%
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 101.6%, 3Y rev CAGR 15.8%
- 54.4% 10Y total return vs PATH's -84.8%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 17.8% revenue growth vs PATH's 12.7% | |
| Value | Lower P/E (15.6x vs 26.1x) | |
| Quality / Margins | 17.5% margin vs APPN's -1.1% | |
| Stability / Safety | Beta 0.81 vs PATH's 1.34 | |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | -11.2% vs APPN's -24.4% | |
| Efficiency (ROA) | 10.0% ROA vs APPN's -1.2%, ROIC 3.9% vs 0.3% |
PATH vs APPN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
PATH vs APPN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
PATH leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PATH is the larger business by revenue, generating $1.6B annually — 2.3x APPN's $691M. PATH is the more profitable business, keeping 17.5% of every revenue dollar as net income compared to APPN's -1.1%. On growth, APPN holds the edge at +21.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $1.6B | $691M |
| EBITDAEarnings before interest/tax | $74M | $16M |
| Net IncomeAfter-tax profit | $282M | -$7M |
| Free Cash FlowCash after capex | $352M | $73M |
| Gross MarginGross profit ÷ Revenue | +83.2% | +76.3% |
| Operating MarginEBIT ÷ Revenue | +3.5% | +0.9% |
| Net MarginNet income ÷ Revenue | +17.5% | -1.1% |
| FCF MarginFCF ÷ Revenue | +21.9% | +10.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +13.6% | +21.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +111.1% | +4.4% |
Valuation Metrics
PATH leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 20.2x trailing earnings, PATH trades at a 98% valuation discount to APPN's 1159.0x P/E. On an enterprise value basis, PATH's 65.2x EV/EBITDA is more attractive than APPN's 3070.0x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $5.9B | $1.7B |
| Enterprise ValueMkt cap + debt − cash | $5.1B | $1.9B |
| Trailing P/EPrice ÷ TTM EPS | 20.19x | 1159.00x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.59x | 26.09x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 65.18x | 3069.97x |
| Price / SalesMarket cap ÷ Revenue | 3.65x | 2.36x |
| Price / BookPrice ÷ Book value/share | 2.75x | — |
| Price / FCFMarket cap ÷ FCF | 16.70x | 28.80x |
Profitability & Efficiency
PATH leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), PATH scores 8/9 vs APPN's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +15.3% | — |
| ROA (TTM)Return on assets | +10.0% | -1.2% |
| ROICReturn on invested capital | +3.9% | +0.3% |
| ROCEReturn on capital employed | +2.8% | +0.2% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 6 |
| Debt / EquityFinancial leverage | 0.03x | — |
| Net DebtTotal debt minus cash | -$800M | $154M |
| Cash & Equiv.Liquid assets | $871M | $136M |
| Total DebtShort + long-term debt | $71M | $290M |
| Interest CoverageEBIT ÷ Interest expense | — | 0.85x |
Total Returns (Dividends Reinvested)
Evenly matched — PATH and APPN each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in APPN five years ago would be worth $2,343 today (with dividends reinvested), compared to $1,515 for PATH. Over the past 12 months, PATH leads with a -11.2% total return vs APPN's -24.4%. The 3-year compound annual growth rate (CAGR) favors PATH at -7.8% vs APPN's -13.2% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -33.9% | -31.9% |
| 1-Year ReturnPast 12 months | -11.2% | -24.4% |
| 3-Year ReturnCumulative with dividends | -21.7% | -34.7% |
| 5-Year ReturnCumulative with dividends | -84.8% | -76.6% |
| 10-Year ReturnCumulative with dividends | -84.8% | +54.4% |
| CAGR (3Y)Annualised 3-year return | -7.8% | -13.2% |
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.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.34x | 0.81x |
| 52-Week HighHighest price in past year | $19.84 | $46.06 |
| 52-Week LowLowest price in past year | $9.28 | $19.79 |
| % of 52W HighCurrent price vs 52-week peak | +52.9% | +50.3% |
| RSI (14)Momentum oscillator 0–100 | 50.0 | 51.3 |
| Avg Volume (50D)Average daily shares traded | 30.9M | 779K |
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates PATH as "Hold" and APPN as "Hold". Consensus price targets imply 50.7% upside for PATH (target: $16) vs 34.8% for APPN (target: $31).
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $15.82 | $31.25 |
| # AnalystsCovering analysts | 24 | 19 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 1 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +5.6% | +1.2% |
PATH leads in 3 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 2 categories are tied.
PATH vs APPN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is PATH or APPN 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). UiPath Inc. (PATH) offers the better valuation at 20. 2x trailing P/E (15. 6x forward), making it the more compelling value choice. Analysts rate UiPath Inc. (PATH) a "Hold" — based on 24 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?
On trailing P/E, UiPath Inc.
(PATH) is the cheapest at 20. 2x versus Appian Corporation at 1159. 0x. On forward P/E, UiPath Inc. is actually cheaper at 15. 6x.
03Which is the better long-term investment — PATH or APPN?
Over the past 5 years, Appian Corporation (APPN) delivered a total return of -76.
6%, compared to -84. 8% for UiPath Inc. (PATH). Over 10 years, the gap is even starker: APPN returned +54. 4% versus PATH's -84. 8%. 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?
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.
05Which is growing faster — PATH or APPN?
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. 6% 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?
UiPath Inc.
(PATH) is the more profitable company, earning 17. 5% net margin versus 0. 2% for Appian Corporation — meaning it keeps 17. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PATH leads at 3. 8% 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 more undervalued right now?
On forward earnings alone, UiPath Inc.
(PATH) trades at 15. 6x forward P/E versus 26. 1x for Appian Corporation — 10. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PATH: 50. 7% to $15. 82.
08Which pays a better dividend — PATH or APPN?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is PATH or APPN 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: +54. 4%, PATH: -84. 8%), 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?
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. 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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