Appian Corporation

APPN

NASDAQ · Infrastructure Software

$36.90

At close - Sep 22, 4:00 PM EDT - USD

Market Cap$2.73B

P/E2236.4x

52W High$46.06

Volume987.53K

VCP Research Verdict2026Q2

Accelerating Cloud Growth Amid Negative Equity

Appian's revenue growth accelerated to 19.1% YoY in 2026Q2, driven by cloud subscription strength, yet profitability remains elusive with operating margin at -2.7% and net losses persisting. The company's asset-light model generates positive operating cash flo...

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MARKET ACTION

APPN price & volume

Price trend, volume and key moving averages

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Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

APPN+8.34%

S&P 500 (^GSPC)+13.20%

1-Year Return

APPN+9.53%

S&P 500 (^GSPC)+15.98%

3-Year Return

APPN-14.05%

S&P 500 (^GSPC)+73.66%

5-Year Return

APPN-63.91%

S&P 500 (^GSPC)+68.36%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/E

2236.4x

Forward P/EExpansion

34.1x

EV/EBITDA100th %ile

285.0x

FCF YieldCash Flow

2.2%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

2236.4x

N/A

EV/EBITDA

285.0x

276.7x

100th· High

Price/FCF

45.8x

44.4x

100th· High

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$5.25-85.8%

Base (Fair)$8.81-76.5%

Bull$9.43-74.4%

$5.25 Bear$8.81 Base$9.43 Bull

Current Market Price: $36.90

Trades at a 318.8% premium to Base DCF ($8.81)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue

$727M+17.8% YoY

Net income

$1M+101.3% YoY

Free cash flow

$60M+1833.6% YoY

Operating margin

0.1%+9.9 pts YoY

ROIC (TTM)0.3%

Avg ROIC 5Y-

ROE (TTM)-

Piotroski Score6 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate9/12 (75%)

Revenue Beat Rate8/12 (67%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q3 2026Latest Aug 6, 2026	$0.13+4120.8% vs $0.00	$203M+5.1% vs $193M
Q2 2026 May 7, 2026	$0.27+42.1% vs $0.19	$202M+5.6% vs $192M
Q1 2026 Feb 19, 2026	$0.15+66.7% vs $0.09	$203M+7.2% vs $189M
Q4 2025 Nov 6, 2025	$0.32+540.0% vs $0.05	$187M-1.2% vs $189M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

5 Stories

PRNewsWire·5d ago

2026 Gartner® Critical Capabilities™ for Business Orchestration and Automation Technologies Report Ranks Appian #1 for the Deterministic Workflow Automation Use Case and Platform Consolidation Use Case

Appian also named a Leader in the Gartner® Magic Quadrant™ for Business Orchestration and Automation Technologies (BOAT) report MCLEAN, Va., Sept. 18, 2026 /PRNewswire/ -- Appian (Nasdaq: APPN) today announced it has ranked #1 for the Deterministic Workflow Automation Use Case and Platform Consolidation Use Case in the 2026 Gartner Critical Capabilities™ for Business Orchestration and Automation Technologies (BOAT) report.

Defense World·6d ago

Appian Corporation $APPN Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its holdings in Appian Corporation (NASDAQ: APPN) by 42.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,279 shares of the company's stock after selling 55,700 shares during the period. Engineers Gate

Zacks Investment Research·Sep 15, 2026

Best Momentum Stocks to Buy for September 15th

RELY, MGY and APPN made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on September 15th, 2026.

Seeking Alpha·Sep 10, 2026

Appian Corporation (APPN) Presents at Citi's 2026 Global TMT Conference Transcript

Filtered for Appian CorporationMore Headlines

Compare before deciding

Benchmark APPN against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Appian Corporation (APPN)

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Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
APPNAppian CorporationCurrent	$36.90	$2.73B	2236.36	17.81%	0.17%	—	—
PEGAPegasystems Inc.	$34.71	$5.71B	16.29	16.61%	18.66%	48.9%	—
AGYSAgilysys, Inc.	$100.37	$2.83B	73.80	15.85%	12.99%	13.46%	—
OSPNOneSpan Inc.	$17.43	$646.18M	9.17	0%	27.76%	25.92%	—
NOWServiceNow, Inc.	$137.00	$141.64B	82.04	20.88%	11.34%	13.77%	—
MSFTMicrosoft Corporation	$498.00	$3.7T	27.74	17.79%	40.31%	33.22%	—

Compare APPN vs Peers

Appian Corporation (APPN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PEGA

Most directly comparable listed peer for APPN.

Scale Benchmark

vs AAPL

Larger-name benchmark to compare APPN against a more recognizable public peer.

Peer Set

Compare Top 5

vs PEGA, AGYS, OSPN, NOW

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

APPN SEC Filings & Documents

Appian Corporation (APPN) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Aug 6, 2026·SEC

Material company update

Jun 8, 2026·SEC

Material company update

May 7, 2026·SEC

10-K Annual Reports

FY 2026

Feb 19, 2026·SEC

FY 2025

Feb 19, 2025·SEC

10-Q Quarterly Reports

FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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APPN Frequently Asked Questions

Appian Corporation (APPN) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is Appian Corporation's revenue?

Appian Corporation (APPN) reported $795.3M in revenue for fiscal year 2025. This represents a 615% increase from $111.2M in 2015.

How fast is Appian Corporation growing?

Appian Corporation (APPN) grew revenue by 17.8% over the past year. This is strong growth.

Is APPN profitable?

Appian Corporation (APPN) reported a net loss of $10.6M for fiscal year 2025.

Dividend & Returns

What is Appian Corporation's free cash flow?

Appian Corporation (APPN) generated $76.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in APPN back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q3 2026Latest

Aug 6, 2026

$0.13+4120.8%

vs $0.00

$203M+5.1%

vs $193M

Q2 2026

May 7, 2026

$0.27+42.1%

vs $0.19

$202M+5.6%

vs $192M

Q1 2026

Feb 19, 2026

$0.15+66.7%

vs $0.09

$203M+7.2%

vs $189M

Q4 2025

Nov 6, 2025

$0.32+540.0%

vs $0.05

$187M-1.2%

vs $189M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

APPNAppian CorporationCurrent

$36.90

$2.73B

2236.36

17.81%

0.17%

—

PEGAPegasystems Inc.

$34.71

$5.71B

16.29

16.61%

18.66%

48.9%

—

AGYSAgilysys, Inc.

$100.37

$2.83B

73.80

15.85%

12.99%

13.46%

—

OSPNOneSpan Inc.

$17.43

$646.18M

9.17

27.76%

25.92%

—

NOWServiceNow, Inc.

$137.00

$141.64B

82.04

20.88%

11.34%

13.77%

—

MSFTMicrosoft Corporation

$498.00

$3.7T

27.74

17.79%

40.31%

33.22%

—