Appian Corporation

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $76.75M TTM FCF base; 10% growth years 1-5, 6% years 6-10; 10% discount rate; 3% terminal growth; $127.46M net debt subtracted; 72.5M diluted shares.

Reasoning: Appian is a moderate-growth, still GAAP-unprofitable enterprise-software company with thin FCF conversion relative to revenue and net debt on the balance sheet, so a more conservative growth and discount-rate DCF is warranted; the result is well below the current market price, implying the market is pricing in materially better FCF conversion and growth than the trailing base supports.