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AppenASX:APX +6.10%48 EV-to-OCF is 4.23 as of Jul. 27, 2026, which is 73% below its 10-year median of 15.82. GuruFocus rates ASX:APX with a GF Score™ of 48/100 and a GF Value™ of A$0.78 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 2,876 Software companies, Appen ranks better than 57.37% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Appen's Enterprise Value is A$148.0 Mil.
Appen's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was A$35.0 Mil. Therefore, Appen's EV-to-OCF for today is 4.23.
The historical rank and industry rank for Appen's EV-to-OCF or its related term are showing as below:
ASX:APX'
s EV-to-OCF Range Over the Past 10 Years
Min: -587.17 Med: 15.82 Max: 114.93
Current: 4.23
During the past 11 years, the highest EV-to-OCF of Appen was 114.93. The lowest was -587.17. And the median was 15.82.
ASX:APX's EV-to-OCF is ranked better than 57.37% of 2876
companies
in the Software industry
Industry Median: 6.695
vs ASX:APX: 4.23
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-07-27), Appen's stock price is A$0.87.
Appen's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$-0.126. Therefore, Appen's PE Ratio (TTM) for today is At Loss.
Appen (ASX:APX) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Appen's share price for today is A$0.87.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Appen's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$-0.126.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Appen EV-to-OCF Related Terms
Appen EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Appen's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Information Technology Services subindustry, Appen's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Appen EV-to-OCF vs Software Industry
For the Software industry and Technology sector, Appen's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Appen's EV-to-OCF falls into.
Appen's current Enterprise Value is A$148.0 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Appen's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was A$35.0 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Appen (ASX:APX) has a EV-to-OCF of 4.23 as of Jul. 27, 2026. This is 73% below median its historical median of 15.82. According to the industry distribution chart, Appen ranks #1226 out of 2876 companies in the Software industry, placing it in the top 42.6%.
Is Appen's EV-to-OCF too high?
Appen's current EV-to-OCF of 4.23 is 73% below median its 10-year median of 15.82. The Software industry median EV-to-OCF is 6.70. Appen's value of 4.23 is 36.8% below this industry median. Based on the distribution chart, Appen ranks #1226 out of 2876 companies in the Software industry, which is above the industry midpoint. Overall, Appen has a GF Score™ of 48/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Appen's EV-to-OCF compare to IBM and ACN?
According to the Software industry distribution chart, Appen ranks #1226 out of 2876 companies for EV-to-OCF. This puts Appen in the upper half of its industry. The industry median EV-to-OCF is 6.70. Appen's value of 4.23 is 36.8% below this benchmark. While the company's 10-year median is 15.82 vs. the industry median of 6.70, Appen has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Software company?
The median EV-to-OCF among Software companies is 6.70, based on 2,876 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Appen's current EV-to-OCF of 4.23 is 36.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Software industry, the median EV-to-OCF is 6.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Appen's current EV-to-OCF is 4.23, which is 73% below median its own 10-year median of 15.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Appen stock overvalued right now?
Based on GuruFocus' analysis, Appen (ASX:APX) is currently considered Modestly Overvalued. The stock's GF Value™ is A$0.78, compared to a current price of A$0.87 — trading 11.5% above its estimated fair value. The current EV-to-OCF is 4.23, which is 73% below median its 10-year median of 15.82 and 36.8% below the Software industry median of 6.70. Appen's overall GF Score™ is 48/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Appen (ASX:APX), the current EV-to-OCF is 4.23 as of Jul. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Appen (ASX:APX) Overvalued in 2026?
Based on GuruFocus' analysis, Appen stock appears to be overvalued.
The current stock price of A$0.87 is trading 11.5% above its estimated GF Value™ of A$0.78.
GuruFocus considers Appen to be Modestly Overvalued.
Key valuation signals for ASX:APX:
EV-to-OCF: 4.23 (73% below median its 10-year median of 15.82)
GF Value™: A$0.78 vs. price of A$0.87 (11.5% above fair value)
Industry Position: 36.8% below the Software median (#1226 of 2876)
No single metric tells the full story. See the ASX:APX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Appen Ltd is engaged in the provision of quality data solutions and services for machine learning and artificial intelligence applications for technology companies, auto manufacturers, government agencies among others. The company's business segments are Appen Global and Appen China. It generates maximum revenue from the Appen Global segment which represents all operations outside of the China Group. The Appen China segment represents the China Group operations and includes Japan and Korea. Geographically, it derives a majority of its revenue from the United States of America, and has its presence in China, Australia and Others.
48GF Score
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