APPN
Appian Corporation
APPN has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over APPN overall, supported by stronger fundamentals 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.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK'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.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK's PE is 7.5x, but its earnings don't support one, so it isn't a reliable read right now.
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.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, 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.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over APPN in the latest year-over-year earnings comparison.
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.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK's revenue has grown year over year for six quarters in a row: $11B last quarter, up 378% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK 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.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK 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 SNDK 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.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
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.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK 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).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
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.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK is trading at 7.5x earnings, a 73% discount to the Technology sector's median of 28x, though its earnings don't support one.
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 stronger trend alignment. APPN is above 5 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-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.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over APPN on returns for 2026, with the stronger performance.