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Side-by-side financial comparison of APPIAN CORP (APPN) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
APPIAN CORP is the larger business by last-quarter revenue ($202.9M vs $120.6M, roughly 1.7× Kennedy-Wilson Holdings, Inc.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs -2.5%, a 50.6% gap on every dollar of revenue. On growth, APPIAN CORP posted the faster year-over-year revenue change (21.7% vs -11.0%). APPIAN CORP produced more free cash flow last quarter ($270.0K vs $-55.2M). Over the past eight quarters, APPIAN CORP's revenue compounded faster (16.4% CAGR vs -6.0%).
Appian Corporation is an American cloud computing and enterprise software company headquartered in McLean, Virginia, part of the Dulles Technology Corridor. The company sells a platform as a service (PaaS) for building enterprise software applications. It is focused on low-code development, process mining, business process management, and case management markets in North America, Europe, the Middle East and Southeast Asia.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
APPN vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.9M | $120.6M |
| Net Profit | $-5.1M | $58.0M |
| Gross Margin | 64.8% | — |
| Operating Margin | -0.3% | 57.3% |
| Net Margin | -2.5% | 48.1% |
| Revenue YoY | 21.7% | -11.0% |
| Net Profit YoY | 62.6% | 32.7% |
| EPS (diluted) | $-0.06 | $0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $202.9M | $120.6M | ||
| Q3 25 | $187.0M | $116.4M | ||
| Q2 25 | $170.6M | $135.7M | ||
| Q1 25 | $166.4M | $128.3M | ||
| Q4 24 | $166.7M | $135.5M | ||
| Q3 24 | $154.1M | $127.5M | ||
| Q2 24 | $146.4M | $132.0M | ||
| Q1 24 | $149.8M | $136.4M |
| Q4 25 | $-5.1M | $58.0M | ||
| Q3 25 | $7.8M | $-10.2M | ||
| Q2 25 | $-312.0K | $5.6M | ||
| Q1 25 | $-1.2M | $-29.6M | ||
| Q4 24 | $-13.6M | $43.7M | ||
| Q3 24 | $-2.1M | $-66.8M | ||
| Q2 24 | $-43.6M | $-48.3M | ||
| Q1 24 | $-32.9M | $37.7M |
| Q4 25 | 64.8% | — | ||
| Q3 25 | 75.8% | — | ||
| Q2 25 | 74.3% | — | ||
| Q1 25 | 76.6% | — | ||
| Q4 24 | 67.8% | — | ||
| Q3 24 | 75.9% | — | ||
| Q2 24 | 73.1% | — | ||
| Q1 24 | 74.6% | — |
| Q4 25 | -0.3% | 57.3% | ||
| Q3 25 | 7.0% | -6.2% | ||
| Q2 25 | -6.4% | 7.4% | ||
| Q1 25 | -0.5% | -26.9% | ||
| Q4 24 | 3.0% | 36.7% | ||
| Q3 24 | -4.6% | -60.8% | ||
| Q2 24 | -26.8% | -45.5% | ||
| Q1 24 | -13.0% | 47.2% |
| Q4 25 | -2.5% | 48.1% | ||
| Q3 25 | 4.2% | -8.8% | ||
| Q2 25 | -0.2% | 4.1% | ||
| Q1 25 | -0.7% | -23.1% | ||
| Q4 24 | -8.2% | 32.3% | ||
| Q3 24 | -1.4% | -52.4% | ||
| Q2 24 | -29.8% | -36.6% | ||
| Q1 24 | -22.0% | 27.6% |
| Q4 25 | $-0.06 | $0.22 | ||
| Q3 25 | $0.10 | $-0.15 | ||
| Q2 25 | $0.00 | $-0.05 | ||
| Q1 25 | $-0.02 | $-0.30 | ||
| Q4 24 | $-0.18 | $0.24 | ||
| Q3 24 | $-0.03 | $-0.56 | ||
| Q2 24 | $-0.60 | $-0.43 | ||
| Q1 24 | $-0.45 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $184.5M |
| Total DebtLower is stronger | $240.8M | — |
| Stockholders' EquityBook value | $-47.0M | $1.5B |
| Total Assets | $691.4M | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $184.5M | ||
| Q3 25 | $191.6M | $382.6M | ||
| Q2 25 | $184.8M | $309.1M | ||
| Q1 25 | $199.7M | $356.6M | ||
| Q4 24 | $159.9M | $217.5M | ||
| Q3 24 | $99.2M | $367.1M | ||
| Q2 24 | $120.8M | $366.5M | ||
| Q1 24 | $170.1M | $541.9M |
| Q4 25 | $240.8M | — | ||
| Q3 25 | $245.7M | — | ||
| Q2 25 | $245.6M | — | ||
| Q1 25 | $248.0M | — | ||
| Q4 24 | $250.4M | — | ||
| Q3 24 | $252.8M | — | ||
| Q2 24 | $254.0M | — | ||
| Q1 24 | $255.1M | — |
| Q4 25 | $-47.0M | $1.5B | ||
| Q3 25 | $-48.5M | $1.5B | ||
| Q2 25 | $-53.7M | $1.6B | ||
| Q1 25 | $-31.7M | $1.6B | ||
| Q4 24 | $-32.6M | $1.6B | ||
| Q3 24 | $-49.8M | $1.6B | ||
| Q2 24 | $-45.7M | $1.7B | ||
| Q1 24 | $-9.7M | $1.7B |
| Q4 25 | $691.4M | $6.6B | ||
| Q3 25 | $611.7M | $6.7B | ||
| Q2 25 | $590.7M | $6.8B | ||
| Q1 25 | $592.9M | $7.2B | ||
| Q4 24 | $621.0M | $7.0B | ||
| Q3 24 | $549.9M | $7.4B | ||
| Q2 24 | $554.6M | $7.5B | ||
| Q1 24 | $595.4M | $7.7B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1M | $11.4M |
| Free Cash FlowOCF − Capex | $270.0K | $-55.2M |
| FCF MarginFCF / Revenue | 0.1% | -45.8% |
| Capex IntensityCapex / Revenue | 0.4% | 55.2% |
| Cash ConversionOCF / Net Profit | — | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | $59.6M | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1M | $11.4M | ||
| Q3 25 | $18.7M | $-7.6M | ||
| Q2 25 | $-1.9M | $42.0M | ||
| Q1 25 | $45.0M | $-51.9M | ||
| Q4 24 | $13.9M | $55.1M | ||
| Q3 24 | $-8.2M | $-5.6M | ||
| Q2 24 | $-17.6M | $36.7M | ||
| Q1 24 | $18.9M | $-5.6M |
| Q4 25 | $270.0K | $-55.2M | ||
| Q3 25 | $18.1M | $-18.0M | ||
| Q2 25 | $-3.1M | $29.4M | ||
| Q1 25 | $44.3M | $-59.7M | ||
| Q4 24 | $13.4M | $-76.5M | ||
| Q3 24 | $-8.6M | $-27.7M | ||
| Q2 24 | $-18.3M | $-500.0K | ||
| Q1 24 | $16.7M | $-57.1M |
| Q4 25 | 0.1% | -45.8% | ||
| Q3 25 | 9.7% | -15.5% | ||
| Q2 25 | -1.8% | 21.7% | ||
| Q1 25 | 26.6% | -46.5% | ||
| Q4 24 | 8.0% | -56.5% | ||
| Q3 24 | -5.6% | -21.7% | ||
| Q2 24 | -12.5% | -0.4% | ||
| Q1 24 | 11.1% | -41.9% |
| Q4 25 | 0.4% | 55.2% | ||
| Q3 25 | 0.3% | 8.9% | ||
| Q2 25 | 0.7% | 9.3% | ||
| Q1 25 | 0.4% | 6.1% | ||
| Q4 24 | 0.3% | 97.1% | ||
| Q3 24 | 0.2% | 17.3% | ||
| Q2 24 | 0.5% | 28.2% | ||
| Q1 24 | 1.5% | 37.8% |
| Q4 25 | — | 0.20× | ||
| Q3 25 | 2.39× | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APPN
| Subscriptions Software And Support | $162.3M | 80% |
| Professional Services | $40.6M | 20% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
