11 years of historical data (2015–2025) · Technology · Software - Infrastructure
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Appian Corporation trades at 1333.5x earnings, 25% below its 5-year average of 1771.0x, sitting at the 50th percentile of its historical range. Compared to the Technology sector median P/E of 25.2x, the stock trades at a premium of 5186%. On a free-cash-flow basis, the stock trades at 33.1x P/FCF, 92% below the 5-year average of 413.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $2.6B | $2.4B | $2.8B | $2.4B | $4.6B | $11.2B | $2.5B | $1.7B | $1.6B | — |
| Enterprise Value | $2.1B | $2.8B | $2.6B | $2.9B | $2.4B | $4.6B | $11.1B | $2.4B | $1.6B | $1.5B | — |
| P/E Ratio → | 1333.50 | 1771.00 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.71 | 3.64 | 3.90 | 5.05 | 5.04 | 12.54 | 36.75 | 9.61 | 7.32 | 8.82 | — |
| P/B Ratio | — | — | — | 52.60 | 16.19 | 19.80 | 37.74 | 12.19 | 22.68 | 34.25 | — |
| P/FCF | 33.14 | 44.40 | 781.54 | — | — | — | — | — | — | — | — |
| P/OCF | 31.39 | 42.05 | 349.98 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Appian Corporation's enterprise value stands at 3494.0x EBITDA, 24% below its 5-year average of 4595.0x. The Technology sector median is 15.7x, placing the stock at a 22098% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.85 | 4.22 | 5.28 | 5.12 | 12.43 | 36.57 | 9.20 | 6.90 | 8.40 | — |
| EV / EBITDA | 3494.04 | 4595.01 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 3494.04 | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 46.99 | 845.32 | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Appian Corporation earns an operating margin of 0.1%. Operating margins have expanded from -19.8% to 0.1% over the past 3 years, signaling improving operational efficiency. ROIC of 0.3% represents below-average returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.5% | 72.5% | 75.7% | 73.7% | 71.5% | 71.8% | 70.9% | 64.0% | 62.5% | 63.5% | 62.3% |
| Operating Margin | 0.1% | 0.1% | -9.9% | -19.8% | -31.0% | -22.7% | -12.4% | -19.4% | -20.6% | -18.0% | -8.6% |
| Net Profit Margin | 0.2% | 0.2% | -15.0% | -20.4% | -32.2% | -24.0% | -11.0% | -19.5% | -21.8% | -17.5% | -9.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -936.6% | -112.5% | -79.5% | -33.4% | -13.3% | -36.4% | -83.3% | -165.6% | — |
| ROA | 0.2% | 0.2% | -14.8% | -18.2% | -27.5% | -17.4% | -7.6% | -16.8% | -25.1% | -23.5% | -13.4% |
| ROIC | 0.3% | 0.3% | -26.5% | -44.7% | -58.5% | -29.1% | -16.7% | -99.8% | — | — | — |
| ROCE | 0.2% | 0.2% | -23.3% | -37.2% | -47.3% | -26.0% | -12.3% | -27.7% | -54.7% | -68.7% | -40.2% |
Solvency and debt-coverage ratios — lower is generally safer
Appian Corporation carries a Debt/EBITDA ratio of 476.4x, which is highly leveraged (15977% above the sector average of 3.0x). Net debt stands at $154M ($290M total debt minus $136M cash). Interest coverage of just 0.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 5.30 | 1.26 | 0.24 | 0.20 | 0.25 | — | — | — |
| Debt / EBITDA | 476.36 | 476.36 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | 2.45 | 0.25 | -0.19 | -0.18 | -0.52 | -1.30 | -1.62 | — |
| Net Debt / EBITDA | 253.35 | 253.35 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 2.59 | 63.78 | — | — | — | — | — | — | — | — |
| Interest Coverage | 0.03 | 0.03 | -2.58 | -6.04 | -86.68 | -225.56 | -79.29 | -137.51 | -235.95 | -67.25 | -11.58 |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.15x means Appian Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.15 | 1.15 | 1.23 | 1.12 | 1.56 | 1.57 | 2.34 | 2.47 | 1.63 | 1.53 | 1.16 |
| Quick Ratio | 1.15 | 1.15 | 1.23 | 1.12 | 1.56 | 1.57 | 2.34 | 2.47 | 1.63 | 1.53 | 1.16 |
| Cash Ratio | 0.41 | 0.41 | 0.45 | 0.43 | 0.73 | 0.72 | 1.43 | 1.42 | 0.74 | 0.78 | 0.41 |
| Asset Turnover | — | 1.05 | 0.99 | 0.87 | 0.79 | 0.73 | 0.59 | 0.70 | 0.97 | 1.10 | 1.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 128.07 | 115.39 | 114.82 | 129.44 | 128.55 | 116.58 | 98.71 | 127.79 | 114.24 | 128.55 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Appian Corporation returns 1.0% to shareholders annually primarily through share buybacks. The earnings yield of 0.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | 0.5% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.1% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 3.0% | 2.3% | 0.1% | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.0% | 0.8% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | — |
| Total Shareholder Yield | 1.0% | 0.8% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | — |
| Shares Outstanding | — | $75M | $73M | $73M | $72M | $71M | $69M | $65M | $62M | $50M | $55M |
Compare APPN with 5 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| APPNYou | $2B | 1333.5 | 3494.0 | 33.1 | 72.5% | 0.1% | — | 0.3% | 476.4 |
| SNPS | $79B | 51.5 | 57.6 | 58.7 | 77.0% | 13.0% | 7.1% | 3.0% | 9.1 |
| PATH | $797M | -82.5 | — | 2.6 | 82.7% | -11.4% | -3.8% | -11.8% | — |
| PDYN | $296M | -2.5 | — | — | 55.2% | -345.8% | -462.9% | -8466.4% | — |
| MLGO | $36M | 6.5 | -30.4 | 8.8 | 28.4% | 3.7% | 5.5% | 14.1% | 8.2 |
| VSAI | $1M | — | — | — | — | — | — | — | — |
| Technology Median | — | 25.2 | 15.7 | 17.3 | 49.8% | -0.9% | 1.1% | 2.9% | 3.0 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 11 years · Updated daily
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Start ComparisonAppian Corporation's current P/E ratio is 1333.5x. This places it at the 50th percentile of its historical range.
Appian Corporation's current EV/EBITDA is 3494.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Based on historical data, Appian Corporation is trading at a P/E of 1333.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Appian Corporation has 72.5% gross margin and 0.1% operating margin.
Appian Corporation's Debt/EBITDA ratio is 476.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.