APPNNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
APPIAN CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$42.28+1.11 (+2.70%)
Close on Oct 19, 2026
- Market cap
- $3.08B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
72.5%+1.7 pts over 5 years
Operating margin
0.1%+12.5 pts over 5 years
Net margin
0.2%+11.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +17.8% | +15.8% | +19.0% | +20.7% | |
| Gross profit | +17.5% | +16.4% | +19.6% | +23.7% | |
| Free cash flow | +1833.6% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 21.9% | -13.3% | -3.1% | |
| Return on assets | – | -7.6% | 0.2% | |
| Current ratio | 1.16 | 2.34 | 1.15 | |
| Debt to equity | -0.32 | – | -5.12 | |
| Net debt to EBITDA | 1.05× | – | 10.18× | |
| Interest coverage | – | – | 0.0× | |
| Capex to revenue | 0.7% | 0.4% | 0.5% | |
| Diluted shares | 34M | 69M | 75M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Appian generated $340.66M from operations and spent $101.93M on capital expenditure, dividends and share buybacks. 31% of that went back into the business.
Generated
$340.66M
Used
$101.93M
Capital expenditure$31.91M31%Dividends$00%Share buybacks$70.02M69%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.2%
×Asset turnover1.11×
×Equity multiplier-16.48×
=Return on equity, FY2025-3.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 0.2% | 1.11× | -16.48× | -3.1% |
| FY2024 | -15.0% | 0.99× | 63.37× | -936.6% |
| FY2023 | -20.4% | 0.89× | 6.17× | -112.5% |
| FY2022 | -32.2% | 0.85× | 2.89× | -79.5% |
| FY2021 | -24.0% | 0.73× | 1.92× | -33.4% |
| FY2020 | -11.0% | 0.69× | 1.76× | -13.3% |
| FY2019 | -19.5% | 0.86× | 2.17× | -36.4% |
| FY2018 | -21.8% | 1.15× | 3.32× | -83.3% |
| FY2017 | -17.5% | 1.34× | -14.68× | 345.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.23M
- Cash generatingOperating cash flow above zero$62.87M
- Return on assets improvedROA up on the prior year-14.7% → 0.2%
- Earnings backed by cashOperating cash flow above net income$62.87M vs $1.23M
- Less leverageLong-term debt to assets fell38.8% → 33.4%
- Better liquidityCurrent ratio rose1.23 → 1.15
- No dilutionShare count did not rise73M → 75M
- Gross margin improvedGross margin up on the prior year72.73% → 72.54%
- More efficientAsset turnover rose0.98 → 1.17