Appian Corporation (APPN) Key Metrics
APPN valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $2.95B
- Enterprise value
- $2.85B
- P/E (TTM)
- —
- Forward P/E
- 416.7
- PEG ratio
- —
- Price / sales
- 3.7 10-yr median 7.3
- Price / book
- 42.8 10-yr median 22.7
- EV / EBITDA
- 127.5
- Dividend yield
- —
- Beta
- 0.92
APPN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsAPPN valuation Price multiples at each fiscal year-end price.
Price / sales−6.8%
3.6
2025 · hover or tap a bar for each year
20162025
Price / free cash flow−94.3%
44.4
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+2.1 pts
2.3%
2025 · hover or tap a bar for each year
20162025
APPN returns How much profit the business earns on the capital it uses.
Return on invested capital+33.1 pts
0.3%
2025 · hover or tap a bar for each year
20162025
Return on assets+15.0 pts
0.2%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin+7.7 pts
8.2%
2025 · hover or tap a bar for each year
20162025
Asset turnover+12.1%
1.11
2025 · hover or tap a bar for each year
20162025
APPN per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+15.2%
$9.74
2025 · hover or tap a bar for each year
20162025
Earnings per share
$0.02
2025 · hover or tap a bar for each year
20162025
Free cash flow per share+1,790.6%
$0.80
2025 · hover or tap a bar for each year
20162025
Book value per share
−$0.63
2025 · hover or tap a bar for each year
20162025
Shares outstanding+2.3%
74.6M
2025 · hover or tap a bar for each year
20162025
APPN financial health Debt, liquidity and how easily interest is covered.
Net debt+$3.0M
$158.2M
2025 · hover or tap a bar for each year
20162025
Current ratio−6.4%
1.15
2025 · hover or tap a bar for each year
20162025
Interest coverage
0.0
2025 · hover or tap a bar for each year
20162025
Debt / assets−1.5%
0.50
2025 · hover or tap a bar for each year
20162025
APPN efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+10 days
119 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−3 days
10 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+13 days
109 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−0.2 pts
0.5%
2025 · hover or tap a bar for each year
20162025
APPN valuation history
Fiscal year-endToday10-year median
APPN returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
APPN debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
APPN cash returned to shareholders
DividendsBuybacksFree cash flow
APPN price vs earnings per share
Share price at year-endEPS (right axis)
APPN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.64B | $2.41B | $2.75B | $2.36B | $4.63B | $11.19B | $2.50B | $1.66B | $1.56B | — |
| Enterprise value | $2.80B | $2.56B | $2.87B | $2.35B | $4.53B | $11.03B | $2.39B | $1.59B | $1.50B | — |
| Price / sales | 3.6 | 3.9 | 5.0 | 5.0 | 12.5 | 36.7 | 9.6 | 7.3 | 8.8 | — |
| Price / book | — | — | 52.6 | 16.2 | 19.8 | 37.7 | 12.2 | 22.7 | 34.3 | — |
| Price / free cash flow | 44.4 | 781.5 | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 42.1 | 350.0 | — | — | — | — | — | — | — | — |
| EV / sales | 3.9 | 4.2 | 5.3 | 5.0 | 12.3 | 36.2 | 9.2 | 7.0 | 8.5 | — |
| EV / EBITDA | 75.7 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 47.1 | 831.9 | — | — | — | — | — | — | — | — |
| Earnings yield | 0.0% | −3.8% | −4.0% | −6.4% | −1.9% | −0.3% | −2.0% | −3.0% | −2.0% | — |
| Free cash flow yield | 2.3% | 0.1% | −4.4% | −4.9% | −1.3% | −0.1% | −1.7% | −2.3% | −0.6% | — |
| Dividend yield | — | — | — | — | — | — | 0.0% | 0.0% | 0.5% | — |
| Shareholder yield (dividends + buybacks) | 0.8% | 2.1% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | — |
| Share price at fiscal year-end | $35.42 | $32.98 | $37.66 | $32.56 | $65.21 | $162.09 | $38.21 | $26.71 | $31.48 | — |
| Per share | ||||||||||
| Revenue per share | $9.74 | $8.45 | $7.46 | $6.46 | $5.20 | $4.41 | $3.98 | $3.65 | $3.57 | $2.43 |
| Earnings per share | $0.02 | −$1.26 | −$1.52 | −$2.08 | −$1.25 | −$0.48 | −$0.77 | −$0.80 | −$0.63 | −$0.23 |
| Operating cash flow per share | $0.84 | $0.09 | −$1.51 | −$1.47 | −$0.76 | −$0.11 | −$0.14 | −$0.50 | −$0.18 | −$0.14 |
| Free cash flow per share | $0.80 | $0.04 | −$1.64 | −$1.60 | −$0.84 | −$0.13 | −$0.63 | −$0.62 | −$0.19 | −$0.16 |
| Cash per share | $2.51 | $2.19 | $2.18 | $2.71 | $2.20 | $3.22 | $2.44 | $1.53 | $1.49 | $0.57 |
| Book value per share | −$0.63 | −$0.45 | $0.72 | $2.01 | $3.29 | $4.30 | $3.13 | $1.18 | $0.92 | −$0.15 |
| Tangible book value per share | −$1.03 | −$0.83 | $0.29 | $1.57 | $2.80 | $4.20 | $3.13 | $1.18 | $0.92 | −$0.15 |
| Dividends per share | — | — | — | — | — | — | $0.00 | $0.00 | $0.15 | $0.14 |
| Capex per share | $0.04 | $0.05 | $0.13 | $0.13 | $0.09 | $0.02 | $0.50 | $0.11 | $0.01 | $0.02 |
| Debt per share | $4.63 | $4.32 | $3.79 | $2.54 | $0.80 | $0.84 | $0.80 | $0.34 | $0.37 | $0.37 |
| Shares outstanding | 74.6M | 73.0M | 73.1M | 72.5M | 71.0M | 69.1M | 65.5M | 62.1M | 49.5M | 54.7M |
| Change in shares outstanding | +2.3% | −0.2% | +0.9% | +2.0% | +2.9% | +5.5% | +5.4% | +25.5% | −9.5% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | — | — | −112.5% | −79.5% | −33.4% | −13.3% | −36.4% | −83.3% | −165.6% | — |
| Return on invested capital (ROIC) | 0.3% | −32.8% | −56.0% | −85.3% | −49.6% | −26.0% | −82.1% | — | — | — |
| Return on assets (ROA) | 0.2% | −14.8% | −18.2% | −27.5% | −17.4% | −7.6% | −16.8% | −25.1% | −23.5% | −13.4% |
| Return on tangible assets | 0.2% | −15.6% | −18.7% | −26.8% | −18.9% | −6.6% | −13.7% | −21.2% | −19.3% | −12.1% |
| Free cash flow margin | 8.2% | 0.5% | −22.0% | −24.7% | −16.2% | −2.9% | −15.9% | −16.9% | −5.4% | −6.6% |
| Income quality (OCF / net income) | 50.99 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $345.4M | $315.0M | $277.4M | $184.0M | $56.9M | $58.1M | $52.1M | $21.3M | $18.5M | $20.0M |
| Cash & short-term investments | $187.2M | $159.9M | $159.0M | $196.0M | $156.0M | $222.3M | $159.8M | $94.9M | $73.8M | $31.1M |
| Net debt | $158.2M | $155.1M | $118.3M | −$12.0M | −$99.1M | −$164.2M | −$107.7M | −$73.7M | −$55.2M | −$11.1M |
| Debt / equity | — | — | 5.30 | 1.26 | 0.24 | 0.20 | 0.25 | 0.29 | 0.41 | — |
| Debt / assets | 0.50 | 0.51 | 0.44 | 0.31 | 0.11 | 0.11 | 0.14 | 0.09 | 0.12 | 0.19 |
| Net debt / EBITDA | 4.27 | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.15 | 1.23 | 1.12 | 1.56 | 1.57 | 2.34 | 2.47 | 1.63 | 1.53 | 1.16 |
| Quick ratio | 1.15 | 1.23 | 1.02 | 1.44 | 1.57 | 2.34 | 2.47 | 1.63 | 1.53 | 1.16 |
| Interest coverage | 0.0 | -2.6 | -6.0 | -86.7 | -225.6 | -79.3 | -137.5 | -236.0 | -67.3 | -11.6 |
| Working capital | $67.3M | $80.8M | $43.2M | $152.2M | $122.5M | $209.5M | $165.4M | $81.2M | $50.1M | $12.4M |
| Invested capital | $111.2M | $122.5M | $170.7M | $133.7M | $134.8M | $132.4M | $97.6M | −$478,000 | −$9.7M | −$19.2M |
| Tangible asset value | −$77.0M | −$60.4M | $21.3M | $114.1M | $199.0M | $290.0M | $205.2M | $73.2M | $45.5M | −$8.1M |
| Net current asset value | −$219.0M | −$218.1M | −$160.8M | −$26.0M | $67.7M | $149.5M | $111.4M | $49.6M | $29.7M | −$22.4M |
| Graham net-net per share | −$4.59 | −$4.76 | −$3.70 | −$1.54 | −$0.24 | $1.15 | $0.71 | −$0.09 | −$0.01 | −$0.81 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | $0 | $0 | $7.6M | $7.6M |
| Share buybacks (net) | $20.0M | $50.0M | $9.7M | $0 | $0 | $0 | $350,000 | $429,000 | $2.4M | $0 |
| Dividends + buybacks / free cash flow | 33.6% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 0.5% | 0.6% | 1.8% | 1.9% | 1.6% | 0.4% | 12.5% | 3.1% | 0.2% | 0.7% |
| Capex / operating cash flow | 5.3% | 55.2% | — | — | — | — | — | — | — | — |
| Capex / depreciation | 0.34 | 0.38 | 1.02 | 1.25 | 1.05 | 0.21 | 6.84 | 3.47 | 0.49 | 1.29 |
| Stock-based compensation / revenue | 5.7% | 6.3% | 8.0% | 8.3% | 6.5% | 5.0% | 6.3% | 7.1% | 7.3% | — |
| R&D / revenue | 23.7% | 25.1% | 28.1% | 29.7% | 26.4% | 23.1% | 22.3% | 19.7% | 19.7% | 17.3% |
| SG&A / revenue | 48.8% | 60.4% | 65.4% | 72.8% | 68.1% | 60.2% | 61.0% | 63.4% | 61.7% | 53.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 118.9 | 108.4 | 112.9 | 115.4 | 112.4 | 100.5 | 105.0 | 108.4 | 105.5 | 111.3 |
| Days of inventory on hand | — | — | 84.9 | 88.8 | — | — | — | — | — | — |
| Days payables outstanding | 10.0 | 12.8 | 18.0 | 18.8 | 15.3 | 16.8 | 28.1 | 31.1 | 29.1 | 28.0 |
| Cash conversion cycle (days) | 108.8 | 95.7 | 179.8 | 185.4 | 97.0 | 83.6 | 76.9 | 77.3 | 76.4 | 83.3 |
| Receivables turnover | 3.07 | 3.37 | 3.23 | 3.16 | 3.25 | 3.63 | 3.48 | 3.37 | 3.46 | 3.28 |
| Payables turnover | 36.37 | 28.62 | 20.23 | 19.37 | 23.84 | 21.68 | 12.97 | 11.73 | 12.56 | 13.04 |
| Inventory turnover | — | — | 4.30 | 4.11 | — | — | — | — | — | — |
| Asset turnover | 1.11 | 0.99 | 0.89 | 0.85 | 0.73 | 0.69 | 0.86 | 1.15 | 1.34 | 1.43 |
| Average receivables | $236.8M | $183.3M | $168.8M | $148.0M | $113.7M | $83.8M | $74.9M | $67.3M | $51.1M | $40.5M |
| Average payables | $5.5M | $5.2M | $7.1M | $6.9M | $4.4M | $4.1M | $7.2M | $7.2M | $5.1M | $3.8M |
| Average inventory | — | — | $33.4M | $32.4M | — | — | — | — | $0 | — |
| Intangibles / total assets | 4.3% | 4.5% | 4.9% | 5.3% | 6.9% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from APPN's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
APPN valuation and financial ratios
Appian earned a return on invested capital of 0.3% in fiscal 2025. It ended the year with $345.4 million of debt and $187.2 million in cash and short-term investments, net debt of $158.2 million. It returned $20.0 million to shareholders: $0 in dividends and $20.0 million in share buybacks, 34% of free cash flow. The share count rose 36.4% from 54.7M to 74.6M over 9 years.
See the APPN income statement, the APPN chart for price history, or the APPN stock overview for the latest quote and news.
APPN key metrics FAQ
What is Appian's EV/EBITDA?
Appian's enterprise value was 75.7 times EBITDA at the end of fiscal 2025 (enterprise value $2.8 billion, EBITDA $37.0 million); the current EV/EBITDA is 127.5.
What is Appian's ROIC?
Appian's return on invested capital was 0.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Appian have?
Appian had total debt of $345.4 million at the end of fiscal 2025 and $158.2 million of net debt (4.27 times EBITDA).
Does Appian buy back its shares?
Yes. Appian spent $20.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.3% over the year, to 74.6M..
What is Appian's free cash flow yield?
Appian generated $59.6 million of free cash flow in fiscal 2025, a free cash flow yield of 2.3% on its market value at year-end ($2.6 billion).
What is Appian's current ratio?
Appian's current ratio was 1.15 at the end of fiscal 2025: current assets were 1.15 times current liabilities.