Appian - justified revenue multiple (owner earnings only just positive)

Appian Corporation (APPN)
By@anthropopithecus
Assumptions as of 2026-07-19
USD
Updated Jul 19, 2026
Download Excel

Appian - justified revenue multiple (owner earnings only just positive)

as of 2026-07-19

Fair value per share
$22.99
Upside to market
-11.9%
Justified multiple of revenue
2.41
Market multiple of revenue
2.73
187.23$M
15.0%
10.0%
17.8%
59.56$M
72.5%
15.0%
$26.11
726.94$M
41.54$M
73.96M
18.00
240.83$M
45.00

Justified revenue multiple bridge ($M)

FY2025
Revenue727
Assumed mature FCF margin (post-SBC)15.0%
= Normalized FCF (assumption)109
Justified multiple of normalized FCF16.1
= Justified multiple of revenue2.41
= Enterprise value1,754
less net debt54
= Equity value1,700
memo - market x revenue2.73
memo - owner earnings today18
memo - owner margin today2.5%

Sources

  1. — sec.gov

Built with Modeledge MCP

Connect your MCP client to research filings and earnings calls, then build a living financial model like this one.

Connect your agent