Appian vs SPS Commerce
Appian and SPS Commerce are similar in size: $727m and $752m of revenue in their latest fiscal years. SPS Commerce grew faster (17.8% against 17.8%). SPS Commerce kept more of each dollar of sales as profit: a net margin of 12.4% against 0.2%.
| Latest fiscal year | AppianAPPN, 2025 | SPS CommerceSPSC, 2025 |
|---|---|---|
| Revenue | $727m | $752m |
| Revenue growth | 17.8% | 17.8% |
| Net income | $1.2m | $93.3m |
| Operating margin | 0.1% | — |
| Net margin | 0.2% | 12.4% |
| Return on equity | — | 10.2% |
| Free cash flow | $59.6m | $152m |
| Cash | $136m | $151m |
| Total debt | $242m | $0 |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $20.0m | $114m |
| Employees | 2,149 | — |
| Market value | $3.49bn | $3.07bn |
| Price vs our value range | — | Within our value range |
| Moat score | 35 (Weak) | 64 (Moderate) |
| Insider trades, 12 months | 2 buys, 13 sales | 0 buys, 14 sales |