Appian Corp (APPN) Fair Value & Analysis
Technology · US · Market cap $1.6B · ISIN US03782L1017
What is Appian Corp really worth?
Appian Corp
APPN · US
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
A solid business, but trading 4,530% above our fair value of $0.8800.
Strengths
Risks
Fair value as of: Aug 31, 2026
From 17 valuation models · updated 5 days ago
Share price +43.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($1.14). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($0.6200 to $1.14) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $18.72 – $149.22 · fair‑value band $0.6200 – $1.14 · the $40.82 price screens above the $0.8800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 31, 2026.
Analysis
Appian Corp (APPN) currently trades at $40.82, while our model-based Fair Value estimate is $0.8800, implying the stock looks roughly 4,529.6% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: the Growth DCF group reads highest at a median of $5.67 per share, and 0 of the 17 models we run sit above the $40.82 price. Bear case: the Earnings-Based group reads lowest at $0.5500, and 17 of the 17 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Appian Corp generated revenue of $763M at a net margin of 0.1%. Revenue grew 21.5% year over year. Net debt stands at $210M. Fundamentals as of Aug 31, 2026
Our scenario range runs from $0.6200 (bear case) to $1.14 (bull case); at $40.82, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 11% below its 52-week high and 119% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −32% fair-value upside, at −98%, APPN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.0136 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 17 models by family
Widest divergence: DCF Models ($9.56) versus Earnings-Based ($0.5500). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 64
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Appian Corporation operates as a software company in the United States, Australia, Canada, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and internationally.
Full company description
Appian Corporation operates as a software company in the United States, Australia, Canada, France, Germany, India, Italy, Japan, Mexico, the Netherlands, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and internationally. The company offers The Appian Platform, an integrated automation platform that enables organizations to design, automate, and optimize critical business processes. The company also offers cloud subscriptions bundled with maintenance and support and hosting services, license subscriptions, and maintenance and support for license subscriptions; and professional and customer support services. In addition, the company offers platforms, such as artificial intelligence, low-code, data fabric, process automation, intelligent document processing, process mining, process intelligence, and case management studio; and solutions, including federal acquisition, public sector case management, state and local e-procurement, contract lifecycle management, insurance connected underwriting, and insurance claims processing. It serves financial services, government, life sciences, insurance, manufacturing, energy, healthcare, telecommunications, and transportation industries. Appian Corporation was incorporated in 1999 and is headquartered in McLean, Virginia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Appian Corp reported revenue of $727M in FY2025 versus $369M in FY2021, a compound +18.5%/yr. Reported net income was $1.2M in FY2025.
APPN screens 4,530% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 369 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $480.35 | $365.74 | −24% |
| Oracle Corporation ORCL | $151.94 | $117.84 | −22% |
| Fortinet, Inc FTNT | $166.00 | $61.46 | −63% |
| Synopsys, Inc SNPS | $442.61 | $101.19 | −77% |
| Block, Inc XYZ | A$111.01 | A$70.69 | −36% |
| CoreWeave, Inc CRWV | $105.26 | $71.79 | −32% |
| NetApp, Inc NTAP | $190.64 | $154.83 | −19% |
| Adyen N.V ADYEN | €1,007 | €707.53 | −30% |
| MongoDB, Inc MDB | $440.58 | $93.91 | −79% |
| Okta, Inc OKTA | $166.23 | $30.50 | −82% |
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