Appian vs Vertex
Appian and Vertex are similar in size: $727m and $748m of revenue in their latest fiscal years. Appian grew faster (17.8% against 12.2%). Vertex kept more of each dollar of sales as profit: a net margin of 1.0% against 0.2%.
| Latest fiscal year | AppianAPPN, 2025 | VertexVERX, 2025 |
|---|---|---|
| Revenue | $727m | $748m |
| Revenue growth | 17.8% | 12.2% |
| Net income | $1.2m | $7.2m |
| Operating margin | 0.1% | — |
| Net margin | 0.2% | 1.0% |
| Return on equity | — | 3.3% |
| Free cash flow | $59.6m | $166m |
| Cash | $136m | $314m |
| Total debt | $242m | $345m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $20.0m | $10.1m |
| Employees | 2,149 | 2,100 |
| Market value | $3.49bn | $1.22bn |
| Price vs our value range | — | Within our value range |
| Moat score | 35 (Weak) | 56 (Moderate) |
| Insider trades, 12 months | 2 buys, 13 sales | 5 buys, 1 sales |