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Appian Valuation Multiples
Discover revenue and EBITDA valuation multiples for Appian and similar public comparables like Ireader, Weaver Network, Opera, Planisware and more.
Appian Overview
About Appian
Appian Corp is a low-code enterprise platform-as-a-service company focusing on business process management. The company's Appian platform is an integrated automation platform providing tools for organizations to design, automate, and optimize end-to-end processes and complex business operations. Capabilities include case management, robotic process automation, artificial intelligence, data fabric, and process mining. The company also provides maintenance and support as well as consulting services and training related to its platform. The majority of its revenue is subscription-based with the remainder from services, with much of its subscription revenue being derived from its cloud-based platform. Geographically, the company derives maximum revenue from its business in the United States.
Founded
1999
HQ
Employees
2.0K
Website
Financials (LTM)
EV
$2B
Appian Financials
Appian reported last 12-month revenue of $752M and EBITDA of $82M.
In the same LTM period, Appian generated $624M in gross profit, $82M in EBITDA, and $52M in net income.
Revenue (LTM)
Appian P&L
In the most recent fiscal year, Appian reported revenue of $727M and EBITDA of $77M.
Appian expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $752M | XXX | $727M | XXX | XXX | XXX |
| Gross Profit | $624M | XXX | $527M | XXX | XXX | XXX |
| Gross Margin | 83% | XXX | 73% | XXX | XXX | XXX |
| EBITDA | $82M | XXX | $77M | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| EBIT Margin | 10% | XXX | 9% | XXX | XXX | XXX |
| Net Profit | $52M | XXX | $46M | XXX | XXX | XXX |
| Net Margin | 7% | XXX | 6% | XXX | XXX | XXX |
| Net Debt | — | — | $105M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Appian Stock Performance
Appian has current market cap of $2B, and enterprise value of $2B.
Market Cap Evolution
Appian's stock price is $21.58.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $2B | 0.0% | XXX | XXX | XXX | $0.62 |
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Start Free TrialAppian Valuation Multiples
Appian trades at 2.3x EV/Revenue multiple, and 20.8x EV/EBITDA.
EV / Revenue (LTM)
Appian Financial Valuation Multiples
As of April 19, 2026, Appian has market cap of $2B and EV of $2B.
Equity research analysts estimate Appian's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Appian has a P/E ratio of 30.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | 2.3x | XXX | 2.4x | XXX | XXX | XXX |
| EV/EBITDA | 20.8x | XXX | 22.2x | XXX | XXX | XXX |
| EV/EBIT | 23.6x | XXX | 25.3x | XXX | XXX | XXX |
| EV/Gross Profit | 2.7x | XXX | 3.2x | XXX | XXX | XXX |
| P/E | 30.7x | XXX | 35.0x | XXX | XXX | XXX |
| EV/FCF | 26.1x | XXX | 28.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Appian Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Appian Margins & Growth Rates
Appian's revenue in the last 12 month grew by 11%.
Appian's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.
Appian's rule of 40 is 23% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Appian's rule of X is 41% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Appian Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 11% | XXX | 12% | XXX | XXX | XXX |
| EBITDA Margin | 11% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Growth | 24% | XXX | 24% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 23% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 41% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.4M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 32% | XXX | 33% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 12% | XXX | 16% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 21% | XXX | 24% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 72% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Appian Public Comps
See public comps and valuation multiples for other Productivity Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Appian | XXX | XXX | XXX | XXX | XXX | XXX |
| Ireader | XXX | XXX | XXX | XXX | XXX | XXX |
| Weaver Network | XXX | XXX | XXX | XXX | XXX | XXX |
| Opera | XXX | XXX | XXX | XXX | XXX | XXX |
| Planisware | XXX | XXX | XXX | XXX | XXX | XXX |
| Asana | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Appian M&A Activity
Appian acquired XXX companies to date.
Last acquisition by Appian was on XXXXXXXX, XXXXX. Appian acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Appian
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAppian Investment Activity
Appian invested in XXX companies to date.
Appian made its latest investment on XXXXXXXX, XXXXX. Appian invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Appian
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Appian
| When was Appian founded? | Appian was founded in 1999. |
| Where is Appian headquartered? | Appian is headquartered in United States. |
| How many employees does Appian have? | As of today, Appian has over 2K employees. |
| Who is the CEO of Appian? | Appian's CEO is Matthew W. Calkins. |
| Is Appian publicly listed? | Yes, Appian is a public company listed on Nasdaq. |
| What is the stock symbol of Appian? | Appian trades under APPN ticker. |
| When did Appian go public? | Appian went public in 2017. |
| Who are competitors of Appian? | Appian main competitors are Ireader, Weaver Network, Opera, Planisware. |
| What is the current market cap of Appian? | Appian's current market cap is $2B. |
| What is the current revenue of Appian? | Appian's last 12 months revenue is $752M. |
| What is the current revenue growth of Appian? | Appian revenue growth (NTM/LTM) is 11%. |
| What is the current EV/Revenue multiple of Appian? | Current revenue multiple of Appian is 2.3x. |
| Is Appian profitable? | Yes, Appian is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Appian? | Appian's last 12 months EBITDA is $82M. |
| What is Appian's EBITDA margin? | Appian's last 12 months EBITDA margin is 11%. |
| What is the current EV/EBITDA multiple of Appian? | Current EBITDA multiple of Appian is 20.8x. |
| What is the current FCF of Appian? | Appian's last 12 months FCF is $65M. |
| What is Appian's FCF margin? | Appian's last 12 months FCF margin is 9%. |
| What is the current EV/FCF multiple of Appian? | Current FCF multiple of Appian is 26.1x. |
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