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DCF Valuation
Base-case fair value
$31.85
Intrinsic $42.47 · 25% MOS
Current price: $24.73
Base-case summary
Our base-case DCF for Appian Corp (APPN) projects 10 years of free cash flow growth at 20.0% for years 1–5 and 10.0% for years 6–10, anchored to 355.4% historical FCF growth, then applies a 2.5% perpetual growth rate and a 8.0% discount rate. Starting from $64M in trailing free cash flow, this produces an intrinsic value of $42.47 per share. A 25% safety margin gives a fair value of $31.85, suggesting the stock is currently 29% undervalued against the $24.73 market price.
See 3 scenarios side by side
Conservative, Base, and Optimistic fair values, plus the sensitivity matrix and FCF history. Free account.
Model inputs
TTM Free Cash Flow
$64M
Cash & equivalents
$206M
Total debt
$295M
Shares outstanding
74M