APPN
Appian Corporation
APPN's outlook is improving, though it still trails on the overall score.
MU
Micron Technology, Inc.
MU has the edge over APPN overall, supported by stronger valuation and stronger modeled upside.
APPN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Weak |
APPN's revenue is currently healthy, and its profitability and cash flow are stable, but its balance sheet is weak.
MU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
MU's revenue, profitability, cash flow and balance sheet are all currently strong.
APPN PE Valuation
APPN has no meaningful PE right now: it lost money over the past year.
MU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 4.6x | $798 | — |
| Cheap | 10x | $777 | -2.7% |
| Current | 11x | $798 | — |
| Fair | 22x | $1,646 | +106% |
| Expensive | 32x | $2,404 | +201% |
Historical ranges are pointers, not guarantees.
MU's PE is in its cheap range at 11x. If earnings grow as analysts expect, today's price would be 4.6x next year's earnings.
APPN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for APPN, with profitability improving.
MU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for MU, with profitability improving.
APPN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.39 | — |
| Q3 2026 | -$0.07 | +$0.03 |
| Q2 2026 | -$0.14 | +$0.09 |
| Q1 2026 | $0.02 | +$0.85 |
| Q4 2025 | $0.02 | +$1.28 |
| Q3 2025 | -$0.10 | +$1.11 |
| Q2 2025 | -$0.23 | +$1.25 |
| Q1 2025 | -$0.83 | +$0.63 |
| Q4 2024 | -$1.26 | +$0.26 |
APPN is still losing money, but far less than before: $0.07 per share over the past year, against $2.27 at its worst in early 2023.
MU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $174.95 | +135% |
| Q3 2026 | $74.33 | +879% |
| Q2 2026 | $44.17 | +693% |
| Q1 2026 | $21.18 | +405% |
| Q4 2025 | $10.52 | +201% |
| Q3 2025 | $7.59 | +984% |
| Q2 2025 | $5.57 | +$6.99 |
| Q1 2025 | $4.19 | +$7.64 |
| Q4 2024 | $3.49 | +$9.77 |
MU has the edge over APPN on earnings quality, reporting a profit while its opponent remains loss making.
APPN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $234.6M | +25% |
| Q2 2026 | $203.3M | +19% |
| Q1 2026 | $202.2M | +21% |
| Q4 2025 | $202.9M | +22% |
| Q3 2025 | $187M | +21% |
| Q2 2025 | $170.6M | +17% |
| Q1 2025 | $166.4M | +11% |
| Q4 2024 | $166.7M | +15% |
APPN's revenue has grown year over year every quarter since late 2020: $235M last quarter, up 25% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.1% | +2.1 points |
| Q2 2026 | -2.7% | +3.8 points |
| Q1 2026 | 1.6% | +2.1 points |
| Q4 2025 | -0.3% | -3.4 points |
| Q3 2025 | 7% | +12 points |
| Q2 2025 | -6.4% | +20 points |
| Q1 2025 | -0.5% | +13 points |
| Q4 2024 | 3% | +15 points |
APPN's operating margin was 9.1% last quarter, up 2.1 points from the same quarter a year ago, near the top of its range since 2019.
MU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $54.2B | +379% |
| Q2 2026 | $41.5B | +346% |
| Q1 2026 | $23.9B | +196% |
| Q4 2025 | $13.6B | +57% |
| Q3 2025 | $11.3B | +46% |
| Q2 2025 | $9.3B | +37% |
| Q1 2025 | $8.1B | +38% |
| Q4 2024 | $8.7B | +84% |
MU has the edge over APPN on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 81% | +48 points |
| Q2 2026 | 80% | +57 points |
| Q1 2026 | 68% | +46 points |
| Q4 2025 | 45% | +20 points |
| Q3 2025 | 32% | +13 points |
| Q2 2025 | 23% | +13 points |
| Q1 2025 | 22% | +19 points |
| Q4 2024 | 25% | +49 points |
MU has the edge over APPN on profitability, with a higher operating margin.
APPN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$20M | -211% |
| Q2 2026 | $9.8M | +$12.9M |
| Q1 2026 | $48.6M | +9.8% |
| Q4 2025 | $270K | -98% |
| Q3 2025 | $18.1M | +$26.7M |
| Q2 2025 | -$3.1M | +$15.3M |
| Q1 2025 | $44.3M | +166% |
| Q4 2024 | $13.4M | +$23M |
APPN has burned cash in most quarters: $39M over the past year, down 47% from the year before.
MU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $32.9B | +45543% |
| Q2 2026 | $17.6B | +951% |
| Q1 2026 | $5.5B | +$5.6B |
| Q4 2025 | $3B | +7853% |
| Q3 2025 | $72M | -75% |
| Q2 2025 | $1.7B | +322% |
| Q1 2025 | -$113M | +$52M |
| Q4 2024 | $38M | +$433M |
MU has the edge over APPN on cash flow, with more consistent year-over-year improvement.
APPN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -155K shares |
| 1 year | -2.5% | -1.8M shares |
| 3 years | -0.6% | -437K shares |
| 5 years | +2.3% | +1.6M shares |
| Available history | +11% | +7.3M shares |
APPN has the edge over MU on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $17.3M |
| Q2 2026 | $43.9M |
| Q1 2026 | $21.8M |
| Q4 2025 | — |
| Q3 2025 | $10M |
| Q2 2025 | $10M |
| Q1 2025 | — |
| Q4 2024 | — |
APPN spent $83M buying back its own shares over the past year, about four times what it spent the year before.
MU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -2M shares |
| 1 year | +1.6% | +18M shares |
| 3 years | +4.6% | +50M shares |
| 5 years | +0.2% | +2M shares |
| Available history | +1.2% | +14M shares |
MU has 1.1B diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $350M |
| Q4 2025 | $300M |
| Q3 2024 | $300M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
MU has spent almost nothing on buybacks in the past year.
APPN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.4x | High |
| Q2 2026 | 5.9x | High |
| Q1 2026 | 6.3x | High |
| Q4 2025 | 10.2x | High |
| Q3 2025 | 7.4x | High |
APPN's net debt is about 5.4 years of its operating earnings (EBITDA), down from 7.4 years a year ago.
MU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.3x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 0.1x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.6x | Very low |
MU has the edge over APPN on leverage, with a lower net debt burden relative to earnings.
APPN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.0 | Overbought |
| Stochastic | 87.4 | Overbought |
APPN's weekly RSI is 73 (overbought) and its Stochastic is 87 (overbought).
MU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.1 | Neutral |
| Stochastic | 26.9 | Neutral |
MU's weekly RSI is 47 (neutral) and its Stochastic is 27 (neutral).
APPN PE vs Technology Sector
| Metric | APPN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
APPN has no meaningful PE right now: it lost money over the past year.
MU PE vs Technology Sector
| Metric | MU | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 28x | 61% below |
| PE % | 18 | 35 | 17 pts below |
MU is trading at 11x earnings, a 61% discount to the Technology sector's median of 28x.
APPN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $45.3 | 22% above |
| 20 week MA | $37.5 | 47% above |
| 50 week MA | $30.9 | 78% above |
| 100 week MA | $31.3 | 76% above |
| 200 week MA | $34.8 | 58% above |
APPN has the edge over MU on trend strength, trading above more of its moving averages.
MU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $914.5 | 13% below |
| 20 week MA | $931.0 | 14% below |
| 50 week MA | $685.9 | 16% above |
| 100 week MA | $405.4 | 97% above |
| 200 week MA | $246.0 | 225% above |
MU has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 225% above its 200-week average.
APPN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $37.7 | $158.0 | +319% |
| 2021 | $158.0 | $72.0 | -54% |
| 2022 | $72.0 | $33.8 | -53% |
| 2023 | $33.8 | $37.7 | +11% |
| 2024 | $37.7 | $33.4 | -11% |
| 2025 | $33.4 | $35.8 | +7.1% |
| 2026 YTD | $35.8 | $55.2 | +54% |
APPN's yearly returns have swung widely, from +319% in 2020 to −54% in 2021. It's up 54% so far in 2026.
MU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $54.0 | $70.6 | +31% |
| 2021 | $70.6 | $94.4 | +34% |
| 2022 | $94.4 | $50.2 | -47% |
| 2023 | $50.2 | $85.3 | +70% |
| 2024 | $85.3 | $88.6 | +3.9% |
| 2025 | $88.6 | $284.8 | +221% |
| 2026 YTD | $284.8 | $798.4 | +180% |
MU has the edge over APPN on returns for 2026, with the stronger performance.