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Data-driven stock valuation

Appian Corp (APPN) fair value: what the stock is really worth

We calculate from audited financials what Appian Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · US · Market cap $2.5B · ISIN US03782L1017

At a glance

AC Appian Corp logo Appian Corp APPN · US
Price$34.07
Fair Value$0.8800
Upside−97.4% ⚠
Quality59/100

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 3,776% above our fair value of $0.8800.

As of Sep 9, 2026, the fair value of Appian Corp is $0.8800 per share against a price of $34.07, so the fair value sits 97% below the price. A model estimate from reported figures, not an analyst target.

✓Healthy Growth (revenue 5y +19.0 %/yr)
!Thin margins · 0.1% net margin
✓Negative equity (buybacks among others) · generates free cash flow
!Mixed vs. peers (4/9)
!Narrow moat 17/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range $0.6200 to $1.14

Fair value as of: Sep 9, 2026

From 17 valuation models · updated 2 days ago

Share price −4.1% over the past month.

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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)

$149.22 $18.72 Fair Value $0.8800 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 9, 2026.

How to read this chart

60‑month range $18.72 – $149.22 · fair‑value band $0.6200 – $1.14 · the $34.07 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 Sep 9, 2026.

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Analysis

Appian Corp (APPN) currently trades at $34.07, while our model-based Fair Value estimate is $0.8800, implying the stock looks roughly 3,776.0% 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 $34.07 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 Sep 9, 2026

Scenario range: $0.6200 (bear) to $1.14 (bull), the price of $34.07 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a 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 26% below its 52-week high and 83% 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 −97%, APPN screens richer than that median.

Fair Value models

Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($0.0139 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($0.5000 to $27.52). Read the values as a conservative anchor, not as a price target.
Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $15.24 $25.71 $52.03 76
Growth DCF $14.44 $27.52 $49.30 75
Owner Earnings n/a $2.26 $6.37 73
All 17 models by family
DCF Models
FCF DCF $15.24 $25.71 $52.03 76
Owner Earnings n/a $2.26 $6.37 73
5Y Revenue Exit $3.69 $5.17 $7.08 73
5Y EBITDA Exit $5.69 $9.56 $15.45 73
5Y P/E Exit $3.99 $6.12 $8.26 71
10Y Revenue Exit $7.62 $11.19 $14.30 67
10Y EBITDA Exit $8.90 $14.53 $23.02 67
10Y P/E Exit $7.81 $11.69 $16.82 64
Earnings-Based
Graham-Dodd $0.2000 $1.32 $1.85 63
Lynch FV $0.3900 $0.5500 $0.7200 61
PEG = 1.0 $0.3900 $0.5500 $0.7200 57
Multiples
P/E Multiple $0.6100 $0.8200 $1.02 63
P/S Multiple $0.3700 $0.5000 $0.6200 58
EV/EBITDA $1.04 $2.13 $3.23 64
Growth DCF
Growth DCF $14.44 $27.52 $49.30 75
Rev-Margin DCF $3.69 $5.67 $8.47 72
Growth Earnings
Growth-Adj P/E $0.6200 $0.8800 $1.14 67

Widest divergence: DCF Models ($9.56) versus Earnings-Based ($0.5500). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/S ratio 2.04 TTM
EPS (TTM) $0.0200
Net margin 0.2% FY2025
Return on equity −937% TTM
Return on assets (EBIT) −13.6% avg 5y
Operating margin 1.6% TTM
More key figures
Growth
Revenue (TTM) $763M TTM
Revenue growth (YoY) +21.5% 3y avg +15.8%
Balance sheet & cash flow
Free cash flow $59.6M FY2025
Net debt $210M FY2025 · ≈ 3.5 yrs of FCF

Figures from reported company fundamentals · as of Sep 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 56

Profitability 53
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 36
Calm price path (market factor)
Momentum 74
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 65
Buybacks instead of dilution

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.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$727M
Latest YoY
+17.8%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.8%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+19.0%
Avg. revenue growth/yr (11Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.0%
EBIT margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−12.4% (2020) → 0.1% (2025)
Value creation/yr ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Revenue +18.5%/yr
FY21 $369M
FY22 $468M
FY23 $545M
FY24 $617M
FY25 $727M
Net income
FY21 −$88.6M
FY22 −$151M
FY23 −$111M
FY24 −$92.3M
FY25 $1.2M

APPN screens 3,776% overvalued. Compare with Microsoft Corporation →

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Appian Corp · Fair Value
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Cite: Fair Value Calculator (2026). "Appian Corp Fair Value". https://www.fairvalue-calculator.com/stock/APPN

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Software - Infrastructure · 368 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
Quality Score 59 · Above median
Fair Value upside −98% · Bottom 25%
Profitability
Return on assets 2% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 2% · Below median
Growth and dividend
Revenue growth 22% · Above median

Valuation Multiples vs Software - Infrastructure median · lower = cheaper

P/S (TTM) 2.04× · Cheaper than median
P/FCF 26.1× · Priciest 25%
EV/EBITDA 65.2× · Priciest 25%

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Appian Corp deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years+17.6 % per year
Achieved revenue growth, 5 years+19.0 % p.a.
Sector median revenue growth+8.3 %
FCF yield on price2.34 %
Discount rate (WACC) in the models9.4 %

The price demands roughly the growth the company recently delivered. Ranking of the largest stocks →

Context: sector, industry, market

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 2
FUTURE100 · sector 49
PAST0 · sector 15
HEALTH100 · sector 98
DIVIDEND0 · sector 26

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.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Sep 9, 2026).

Stock Price Fair Value vs Fair Value
Microsoft Corporation MSFT $480.35 $365.74 −24%
Oracle Corporation ORCL $158.78 $117.84 −26%
Palo Alto Networks, Inc PANW $333.26 $36.50 −89%
Fortinet, Inc FTNT $156.29 $61.46 −61%
Synopsys, Inc SNPS $393.84 $101.19 −74%
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 €951.60 €707.53 −26%
MongoDB, Inc MDB $368.74 $93.91 −75%

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Frequently asked questions

Is Appian Corp (APPN) overvalued or undervalued?
As of Sep 9, 2026, our model estimates a fair value of $0.8800 versus a price of $34.07, about −97% upside (overvalued).
What is the fair value of APPN?
Our model-based fair value for Appian Corp is $0.8800 (as of Sep 9, 2026), built from audited fundamentals. The current price: $34.07.
What is the quality score of APPN?
Appian Corp has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Appian Corp (APPN)?
Our model-based price target is the fair value of $0.8800 (as of Sep 9, 2026) from 17 valuation models. Cautious scenario $0.6200, optimistic scenario $1.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Appian Corp stock forecast for 2026?
Our models put fair value at $0.8800, about −97% upside versus a price of $34.07 (overvalued). Cautious scenario $0.6200, optimistic scenario $1.14. The calculation is refreshed regularly with new filings.
What is the revenue of Appian Corp (APPN)?
Appian Corp reported trailing-twelve-month revenue of about $763M (latest available figure, as of Sep 9, 2026).
What is the net profit margin of APPN?
The net profit margin of Appian Corp is about 0.1%, meaning it keeps roughly 0.1% of revenue as net income. Based on the latest reported figures.
What growth is priced into Appian Corp (APPN)?
For today's price to be fair in a discounted-cash-flow model, Appian Corp would have to grow free cash flow by +17.6 % per year for ten years (discount rate 9.4 %, then 2 % perpetual growth). Over the last 5 years revenue grew +19.0 % per year. As of Sep 9, 2026.
What discount rate (WACC) does the fair value of APPN use?
Our models discount Appian Corp at 9.4 %: a base by market capitalisation (mid), damped by beta 0.86, country premium for USA. The same rate applies in all 26 models.
What is the intrinsic value of Appian Corp (APPN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Appian Corp it is $0.8800 per share (as of Sep 9, 2026), against a price of $34.07. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Appian Corp stock overvalued or undervalued in 2026?
As of Sep 9, 2026, APPN trades above its calculated fair value: price $34.07, fair value $0.8800, a gap of about −97% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of APPN?
No. The price is what the market pays today ($34.07); the fair value is what the company's own numbers justify ($0.8800). For Appian Corp the two are $33.19 per share apart. That gap is exactly why we show both numbers side by side.
How much is Appian Corp worth?
The market values Appian Corp at about $2.5B (market capitalisation, as of Sep 9, 2026). Per share that is $34.07; our models calculate a fair value of $0.8800 per share.
What do the bullish and bearish scenarios say about APPN?
Our models span a range for Appian Corp: cautious scenario $0.6200, base $0.8800, optimistic $1.14 per share (as of Sep 9, 2026, price $34.07). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is APPN from its 52-week high?
Appian Corp trades at $34.07, about 26% below its 52-week high of $46.06 and 83% above the low of $18.63 (as of Sep 9, 2026). Distance from the high says nothing about value: that is what the fair value of $0.8800 is for.
Which stocks are comparable to Appian Corp?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc, Fortinet, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Appian Corp stock attractive at the current price?
The data as of Sep 9, 2026: price $34.07, calculated fair value $0.8800 (−97%), Quality Score 59/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of APPN calculated?
We run Appian Corp through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.8800, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Appian Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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