Appian Corporation (APPN) vs Cellebrite DI Ltd. (CLBT)

Appian Corporation and Cellebrite DI Ltd. are both Software Infrastructure companies. Appian Corporation and Cellebrite DI Ltd. are of similar size ($2.9B and $2.7B). Appian Corporation has negative trailing earnings, so its P/E is not meaningful; Cellebrite DI Ltd. trades at 45.0×. Appian Corporation grew revenue faster over the last twelve months: 20.9% against 17.8%. Cellebrite DI Ltd. has the higher net margin (11.4% vs −1.34%) and the higher return on invested capital (36.5% vs 0.00%). Across the 18 metrics below, Cellebrite DI Ltd. leads on 11 and Appian Corporation on 7.

Valuation

Metric APPN CLBT Software Infrastructure median
P/E n/m 44.96 28.02
P/S 3.30 5.20 3.07
P/B n/m 4.97 3.36
Price to free cash flow 34.20 n/m 17.12
EV/EBITDA 132.94 29.18 14.91
EV/Sales 3.39 4.33 3.03
Earnings yield (0.39%) 2.22% 0.13%
Free cash flow yield 2.92% (0.75%) 1.15%

Profitability

Metric APPN CLBT Software Infrastructure median
Gross margin 72.40% 82.96% 61.23%
Operating margin 1.28% 10.86% 0.00%
Net margin (1.34%) 11.43% 0.00%
Free cash flow margin 9.65% (3.90%) 1.67%
Return on equity 13.37% 12.42% 0.59%
Return on assets (1.81%) 6.60% 0.00%
Return on invested capital 0.00% 36.53% 0.00%

Growth

Metric APPN CLBT Software Infrastructure median
Revenue growth (TTM) 20.90% 17.76% 13.41%
EPS growth (last fiscal year) 101.59% 122.96% —
Revenue growth, 5-year CAGR 19.00% 19.53% 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric APPN CLBT Software Infrastructure median
Debt to equity (2.24) 0.00 0.06
Current ratio 1.00 1.62 1.55
Net debt to EBITDA 4.91 (5.75) 0.08

Dividend

Metric APPN CLBT Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric APPN CLBT Software Infrastructure median
Market cap 2.69b 2.89b 835.96m

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