APPN vs SSNC vs MTLS Stock Comparison

Appian, SS&C Technologies Holdings and Materialise Prices as of Oct 26, 2026 Peers: Industry group
APPN Appian Corp
$51.57 +43.2% 1M +63.1% 1Y
Market cap
$3.64B
P/E
–
Revenue (TTM)
$795.31M
Div. yield
–
Business Process Automation Technology
3 wins
MTLS Materialise Nv
$8.65 +2.6% 1M +43.2% 1Y
Market cap
$515.36M
P/E
33.5x
Revenue (TTM)
$318.18M
Div. yield
–
Business Process Automation Technology
3 wins

Head to Head

11 decided of 12

SS&C Technologies Holdings leads on 5 of the 12 questions below (SS&C Technologies Holdings 5, Appian 3, Materialise 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAPPNSSNCMTLSLeader
Larger companyMarket capitalisation $3.64B $19.23B $515.36M SSNC
Cheaper on earningsLower P/E, profitable companies only -342.7x 22.6x 33.5x SSNC
Cheaper on forward earningsLower price / next fiscal year consensus EPS 46.0x 11.9x 43.2x SSNC
Faster revenue growthRevenue growth, trailing twelve months +20.9% +8.7% +10.2% APPN
More profitableNet margin, trailing twelve months -1.3% — 4.8% MTLS
Better return on capitalReturn on invested capital 6.5% — 3.5% APPN
Less leveragedLower net debt / EBITDA 3.4x — -2.5x MTLS
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +63.1% -3.1% +43.2% APPN
Better 5-year returnAnnualised price return, 5 years -11.3%/yr +1.9%/yr -17.1%/yr SSNC
Less volatileAnnualised volatility, 1 year 68.3% 29.4% 42.1% SSNC
Higher overall scoreMean of the five percentile scores vs peers 52/100 52/100 65/100 MTLS

Percentile Scorecard

APPNSSNCMTLS

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAPPNSSNCMTLS
Valuation 39 #63 of 102 82 #19 of 102 86 #15 of 102
Growth 91 #10 of 98 31 #68 of 98 88 #13 of 98
Profitability 56 #42 of 95 63 #36 of 95 61 #38 of 95
Financial Health 32 #74 of 109 – 81 #22 of 109
Shareholder Returns 43 #37 of 64 32 #44 of 64 8 #59 of 64
Overall 52 52 65
  • APPN ranked among 115 companies in Business Applications
  • SSNC ranked among 115 companies in Business Applications
  • MTLS ranked among 115 companies in Business Applications

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAPPNSSNCMTLSSPY
1 month +43.2%+4.3%+2.6% -0.8%
3 months +101.8%+9.3%+34.3% +3.5%
6 months +134.8%+19.5%+62.9% +7.0%
Year to date +45.6%-6.2%+55.9% +12.2%
1 year +63.1%-3.1%+43.2% +13.0%
3 years +29.0%+68.4%+62.3% +86.3%
3 years, per year +8.9%+19.0%+17.5% +23.1%
5 years -45.1%+9.9%-60.9% +68.6%
5 years, per year -11.3%+1.9%-17.1% +11.0%
10 years —+149.3%+13.8% +258.0%
10 years, per year —+9.6%+1.3% +13.6%

Risk

MeasureAPPNSSNCMTLSSPY
Volatility, 1Y 68.3%29.4%42.1% 12.7%
Downside volatility, 1Y 59.7%30.7%38.3% 12.7%
Beta vs S&P 500, 1Y 0.510.471.10 1.00
Return / volatility, 1Y 0.92-0.111.03 1.02
Max drawdown, 5Y -81.9%-44.8%-84.7% -25.4%
From 52-week high -1.5%-8.5%-1.1% -1.8%
52-week high $52.35$89.62$8.75 $779.14
52-week low $18.72$62.05$4.80 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAPPNSSNCMTLS
P/E now vs peer median -354.0xmedian 28.8x 22.9xmedian 28.8x 33.2xmedian 28.8x
P/S now vs peer median 4.7xmedian 2.8x 2.9xmedian 2.8x 1.6xmedian 2.8x
EV/EBITDA now vs peer median 186.1xmedian 17.7x —median 17.7x 10.5xmedian 17.7x
P/FCF now vs peer median 48.2xmedian 15.8x 10.4xmedian 15.8x 31.6xmedian 15.8x
P/B now vs peer median -35.2xmedian 3.2x —median 3.2x 1.7xmedian 3.2x
PEG now vs peer median -5.97median 0.85 1.77median 0.85 0.11median 0.85

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAPPNSSNCMTLS
Revenue $795.31M $6.69B $318.18M
Gross profit $565.62M $3.22B $182.10M
Operating income $10.14M $1.59B $12.25M
Net income -$10.62M $853.70M $15.39M
Free cash flow $76.75M – $16.15M
R&D $185.95M $530.10M $55.71M
EPS (diluted) $-0.15 $3.52 $0.26
Cash & equivalents $121.11M $525.40M $152.75M
Total debt $236.03M – $53.39M
Shares (diluted) 72.90M 242.00M 59.07M
Enterprise value $2.89B $19.23B -$101.95M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAPPNSSNCMTLS
P/E -354.0x 22.9x 33.2x
P/FCF 48.2x 10.4x 31.6x
P/Operating cash flow 45.9x 10.3x 14.3x
P/S 4.7x 2.9x 1.6x
P/B -35.2x – 1.7x
P/Tangible book -35.0x – 1.9x
EV/EBITDA 186.1x – 10.5x
EV/EBIT 371.8x – 33.6x
EV/Revenue 4.7x 2.9x 1.3x
EV/FCF 49.1x – 25.5x
EV/Operating cash flow 46.7x 10.3x 11.5x
PEG (3Y EPS CAGR) -5.97 1.77 0.11

Growth

14 metrics
MetricAPPNSSNCMTLS
Revenue growth (1Y) 20.9% 8.7% 10.2%
Revenue CAGR (3Y) 16.2% 7.2% 6.4%
Gross profit growth (1Y) 19.3% 8.0% 11.4%
Gross profit CAGR (3Y) 15.8% 7.7% 7.0%
Operating income growth (1Y) 172.8% 11.7% 73.2%
Operating income CAGR (3Y) 27.4% 10.7% 62.7%
Net income growth (1Y) 38.4% 0.1% 150.8%
Net income CAGR (3Y) 59.3% 11.2% 330.9%
EPS growth (1Y) 37.3% 4.4% 151.3%
EPS CAGR (3Y) 59.3% 13.0% 310.4%
Operating cash flow growth (1Y) 66.0% 17.1% 46.9%
Operating cash flow CAGR (3Y) 42.0% 15.8% 32.9%
Free cash flow growth (1Y) 66.9% – 340.6%
Free cash flow CAGR (3Y) 39.7% – 53.8%

Profitability

14 metrics
MetricAPPNSSNCMTLS
Gross margin 71.1% – 57.2%
EBITDA margin 2.5% – 12.3%
Operating margin 1.3% – 3.9%
Pretax margin -0.7% – 4.9%
Net margin -1.3% – 4.8%
FCF margin 9.6% – 5.1%
Operating cash flow margin 10.2% 27.8% 11.3%
Return on equity – – 5.3%
Return on assets -1.8% 4.2% 3.2%
Return on invested capital 6.5% – 3.5%
Return on capital employed 5.3% – 3.3%
Asset turnover 1.3x 0.3x 0.7x
Cash conversion (OCF / net income) -7.6x 2.2x 2.3x
Stock comp / revenue 5.4% 4.0% 0.1%

Financial Health

11 metrics
MetricAPPNSSNCMTLS
Debt / assets 40.3% – 11.2%
Debt / equity -2.2x – 0.2x
Net debt / EBITDA 3.4x – -2.5x
Debt / FCF 3.1x – 3.3x
Liabilities / assets 118.0% 66.8% 38.6%
Equity / assets -18.0% – 61.4%
Interest coverage 0.6x – 27.6x
Current ratio 1.0x 0.8x 2.4x
Quick ratio 0.8x – 2.1x
Cash ratio 0.4x – 1.5x
Altman Z-score 3.13 – 2.97

Shareholder Returns

7 metrics
MetricAPPNSSNCMTLS
Dividend yield – 1.4% –
Net buyback yield 2.0% – -20.9%
Shareholder yield 2.0% 1.4% -20.9%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAPPNSSNCMTLS
Forward P/E 46.0xFY2026 11.9xFY2026 43.2xFY2026
EPS, next fiscal year $1.12FY2026 $6.91FY2026 $0.20FY2026
EPS growth, next FY +83.6%FY2026 +12.5%FY2026 +33.3%FY2026
EPS growth, the year after +20.5% +7.5% +45.0%
Revenue, next fiscal year $897.68MFY2026 $7.18BFY2026 $302.24MFY2026
Revenue growth, next FY +23.5%FY2026 +14.3%FY2026 -3.8%FY2026
Revenue growth, the year after +12.0% -7.0% +17.6%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAPPNSSNCMTLS
Held by institutions 94.9% 84.8% 13.7%
Institutions holding 212 724 59
Change in shares held, QoQ -1.3% +1.7% +9.4%
Institutions buying 120 385 23
Institutions selling 52 259 22
Buyers to sellers 2.31 1.49 1.05

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

APPNSSNCMTLS
APPN 1.00 0.41 0.11
SSNC 0.41 1.00 0.15
MTLS 0.11 0.15 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, APPN, SSNC and MTLS?

SS&C Technologies Holdings (SSNC) is the largest by market capitalisation: Appian (APPN) $3.64B, SS&C Technologies Holdings (SSNC) $19.23B, Materialise (MTLS) $515.36M.

Which stock is cheaper, APPN, SSNC and MTLS?

SS&C Technologies Holdings (SSNC) trades on the lowest price-to-earnings ratio (Appian (APPN) -342.7x, SS&C Technologies Holdings (SSNC) 22.6x, Materialise (MTLS) 33.5x). On next year's consensus earnings, SS&C Technologies Holdings (SSNC) is cheapest (Appian (APPN) 46.0x, SS&C Technologies Holdings (SSNC) 11.9x, Materialise (MTLS) 43.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Appian (APPN) grew revenue fastest over the trailing twelve months: Appian (APPN) +20.9%, SS&C Technologies Holdings (SSNC) +8.7%, Materialise (MTLS) +10.2%.

Which company is more profitable?

Materialise (MTLS) has the highest net margin (Appian (APPN) -1.3%, Materialise (MTLS) 4.8%). On return on invested capital, Appian (APPN) leads (Appian (APPN) 6.5%, Materialise (MTLS) 3.5%).

Which stock has performed better?

Over the past year Appian (APPN) returned the most: Appian (APPN) +63.1%, SS&C Technologies Holdings (SSNC) -3.1%, Materialise (MTLS) +43.2%. Over five years, SS&C Technologies Holdings (SSNC) compounded fastest (Appian (APPN) -11.3%/yr, SS&C Technologies Holdings (SSNC) +1.9%/yr, Materialise (MTLS) -17.1%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, SS&C Technologies Holdings (SSNC) has been the steadiest (Appian (APPN) 68.3%, SS&C Technologies Holdings (SSNC) 29.4%, Materialise (MTLS) 42.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, APPN, SSNC and MTLS?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, SS&C Technologies Holdings (SSNC) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.