Clearwater Analytics Holdings, Inc. CWAN R2K
Technology · Software - Application · United States
Clearwater Analytics Holdings, Inc. develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services in the United States and internationally. It offers portfolio management, order and execution management systems (OEMS), investment accounting, reconciliation, regulatory reporting, performance measurement, compliance monitoring, and risk analytics. The company offers a single instance, multi-tenant technology platform that automates data aggregation, reconciliation, validation, and trade management. It serves insurers, asset managers, hedge funds, banks, corporations, and government entities. The company was founded in 2004 and is headquartered in Boise, Idaho.
READ MORE ›$24.34
+5.37% 1Y
Market & Price
Market Cap
$7.27B
Current Price
$24.34
High / Low (52W)
$24.75 / $15.89
Beta
0.60
Valuation
Stock P/E
-
Industry PE
32.74
Forward P/E
28.22
PEG Ratio
10.23
Book Value
$6.89
Price to Book
3.53
P/S
8.80
EV/EBITDA
73.55
Dividend Yield
-
Profitability & Returns
ROCE
-0.14%
ROE
-3.13%
ROA
-0.08%
Profit Margin
-5.82%
Op Margin
4.06%
EPS (Latest Qtr)
$-0.01
EPS (TTM)
$-0.18
Balance Sheet & Liquidity
Debt/Equity
0.42
Quick Ratio
1.96
Current Ratio
2.25
Debt
$860.84M
Total Assets
$3.03B
Current Assets
$295.57M
Working Capital
$134.23M
Ownership
Promoter Holding
1.17%
Chg in Prom Hold
-
FII / Inst Holding
107.09%
Chg in FII Hold
-
Financial Snapshot
Enterprise Value
$8.02B
Total Revenue (TTM)
$825.73M
EBITDA
$109.07M
Free Cash Flow
$160.31M
Operating Cash Flow
$169.07M
Shares Outstanding
297.38M
Gross Margin
65.97%
Payout Ratio
0.00%
Growth (CAGR)
Revenue 5Y
34.08%
Profit 5Y
-129.03%
Revenue (YoY)
74.40%
Earnings (YoY)
-
PROS
- Compounding revenue at 34.1% over 5 years.
- Generates positive free cash flow.
- In a confirmed uptrend (50-DMA above 200-DMA).
CONS
- Earnings shrank at -129.0% CAGR over 5 years.
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CWAN Clearwater Analytics Holdings, Inc. R2K | 24.34 | - | $7.27B | - | -0.14% | -3.13% | 34.08% | -129.03% |
| 2 | NVDA NVIDIA Corporation NDXSPXAI | 211.14 | 32.38 | $5.11T | 0.47% | 81.14% | 114.29% | 100.05% | 201.80% |
| 3 | AAPL Apple Inc. NDXSPX | 312.06 | 37.73 | $4.58T | 0.35% | 68.72% | 141.47% | 1.81% | 3.92% |
| 4 | MSFT Microsoft Corporation NDXSPXAI | 450.24 | 26.82 | $3.34T | 0.81% | 26.37% | 34.01% | 12.42% | 11.87% |
| 5 | TSM Taiwan Semiconductor Manufacturing Company Limited AI | 418.45 | 35.86 | $2.17T | 0.91% | 32.04% | 36.21% | 18.94% | 19.57% |
| 6 | MU Micron Technology, Inc. NDXSPXAI | 971.00 | 45.87 | $1.10T | 0.06% | 14.20% | 39.82% | 6.71% | -0.57% |
| 7 | AMD Advanced Micro Devices, Inc. NDXSPXAI | 516.10 | 172.61 | $841.55B | - | 6.33% | 8.06% | 13.64% | 48.64% |
| 8 | ORCL Oracle Corporation SPXAI | 225.78 | 40.46 | $649.35B | 0.89% | 13.07% | 57.57% | 10.59% | 22.81% |
| 9 | ASML ASML Holding N.V. NDXAI | 1,612.76 | 53.76 | $621.59B | 0.54% | 43.81% | 52.24% | 15.55% | 19.55% |
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Quarterly Results
Figures in USD.
| Metric | Sep 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 53.35M | 56.89M | 60.88M | 64.49M | 70.78M | 73.41M | 76.55M | 84.61M | 89.88M | 94.66M | 102.72M | 106.79M | - | - | 126.86M | 181.94M | 205.11M | 217.46M | 221.23M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 33.92M | 63.42M | 70.64M | 71.24M | 75.68M |
| Gross Profit | 41.03M | 42.57M | 45.30M | 46.70M | 49.61M | 52.49M | 53.83M | 59.78M | 62.92M | 67.65M | 74.54M | 76.90M | - | - | 92.94M | 118.51M | 134.47M | 146.22M | 145.55M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 85.86M | 133.09M | 127.92M | 152.96M | 136.56M |
| Operating Income | 16.50M | 11.98M | 8.56M | 7.26M | 1.28M | 1.13M | -1.16M | -6.32M | -7.12M | -5.89M | -166.00K | 3.84M | - | - | 7.08M | -14.58M | 6.55M | -6.74M | 8.99M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 12.55M | 10.57M | 35.41M | 23.00M | 38.60M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 919.00K | 13.46M | 16.12M | 15.16M | 12.65M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 8.49M | -26.50M | -10.00M | -21.66M | -3.60M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.55M | -2.35M | 510.00K | -9.13M | -809.00K |
| Net Income | - | - | - | -8.31M | 398.00K | -2.43M | -2.97M | -4.38M | -10.92M | -1.89M | 1.90M | -430.00K | - | - | 6.51M | -23.23M | -10.34M | -12.07M | -2.78M |
| Diluted EPS | - | - | - | -0.05 | 0.00 | -0.01 | -0.02 | -0.02 | -0.06 | -0.01 | 0.01 | 0.00 | - | - | 0.03 | -0.09 | -0.04 | -0.04 | -0.01 |
| R&D Expense | 14.76M | 15.84M | 16.74M | 18.41M | 21.29M | 22.84M | 25.44M | 28.10M | 29.85M | 32.25M | 37.68M | 35.36M | 36.62M | - | 37.40M | 49.76M | 52.06M | - | 57.05M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 168.00M | 203.22M | - | 303.43M | 368.17M | 451.80M | 731.37M |
| Cost of Revenue | - | - | - | 87.78M | 107.13M | 122.99M | 239.22M |
| Gross Profit | 120.86M | 149.96M | - | 215.64M | 261.04M | 328.82M | 492.15M |
| Operating Expenses | - | - | - | 210.53M | 277.79M | 316.58M | 499.83M |
| Operating Income | 25.70M | -20.42M | - | 5.12M | -16.75M | 12.23M | -7.69M |
| EBITDA | - | - | - | 10.26M | -8.21M | -13.56M | 81.53M |
| Interest Expense | - | - | 25.68M | - | 4.73M | 4.33M | 45.66M |
| Pretax Income | - | - | - | -5.33M | -22.87M | -30.06M | -49.67M |
| Tax Provision | - | - | - | 1.36M | 217.00K | -457.65M | -9.42M |
| Net Income | - | - | - | -7.97M | -21.63M | 424.38M | -38.81M |
| Diluted EPS | - | - | - | -0.04 | -0.11 | 1.68 | -0.14 |
| R&D Expense | 39.27M | 55.26M | 72.69M | 94.12M | 123.92M | 150.56M | 196.23M |
Compounded Sales Growth
| 5 Years: | 34.08% |
| 1 Year: | 74.40% |
Compounded Profit Growth
| 5 Years: | -129.03% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | +5.37% |
| 6 Months: | +9.99% |
| 3 Months: | +4.06% |
| 1 Month: | +0.87% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Total Assets | 115.56M | - | 481.94M | 558.74M | 1.17B | 3.03B |
| Current Assets | - | - | 356.35M | 416.00M | 384.65M | 295.57M |
| Cash & Equivalents | 61.09M | - | 250.72M | 221.76M | 177.35M | 91.25M |
| Inventory | - | - | - | - | - | - |
| Receivables | - | - | 41.72M | 45.80M | 59.99M | 113.25M |
| Total Liabilities | 460.17M | - | 143.56M | 149.09M | 139.34M | 1.00B |
| Current Liabilities | 38.21M | - | 66.01M | 80.79M | 77.05M | 161.34M |
| Long Term Debt | - | - | 48.49M | 45.83M | 43.16M | 814.64M |
| Total Debt | - | - | 76.60M | 72.08M | 71.92M | 860.34M |
| Total Equity | - | - | 269.52M | 354.33M | 1.01B | 2.02B |
| Shares Outstanding | - | - | 191.23M | 210.56M | 235.10M | 291.43M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -230.03M | -6.49M | - | 58.01M | 84.60M | 74.32M | 175.90M |
| Investing Cash Flow | -3.37M | -3.81M | - | -76.55M | -95.06M | -55.65M | -988.13M |
| Financing Cash Flow | 237.72M | 51.04M | - | 16.23M | -19.29M | -61.67M | 725.41M |
| Capital Expenditure | -3.37M | -3.81M | - | -7.76M | -5.62M | -5.26M | -21.79M |
| Free Cash Flow | -233.40M | -10.29M | - | 50.25M | 78.98M | 69.06M | 154.10M |
| Net Change in Cash | - | - | - | -2.32M | -29.74M | -42.99M | -86.82M |
| Share Buybacks | 3.78M | 567.00K | 626.00K | 0 | 0 | 0 | 18.05M |
| Dividends Paid | - | 163.26M | - | - | - | - | - |
Ratios (Annual)
Figures in %.
| Metric | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Gross Margin % | 71.9% | 73.8% | - | 71.1% | 70.9% | 72.8% | 67.3% |
| Operating Margin % | 15.3% | -10.0% | - | 1.7% | -4.5% | 2.7% | -1.1% |
| Net Margin % | - | - | - | -2.6% | -5.9% | 93.9% | -5.3% |
| ROE % | - | - | - | -3.0% | -6.1% | 42.1% | -1.9% |
| ROCE % | - | -26.4% | - | 1.2% | -3.5% | 1.1% | -0.3% |
Shareholding Pattern
Insiders
1.17%
Institutions
107.09%
Public Float
108.36%
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 9.51% | 28.27M | $688.09M |
| 2 | Vanguard Portfolio Management LLC | 6.15% | 18.29M | $445.27M |
| 3 | UBS Group AG | 4.96% | 14.74M | $358.66M |
| 4 | HBK Investments L P | 4.67% | 13.88M | $337.72M |
| 5 | Vanguard Capital Management LLC | 4.40% | 13.10M | $318.79M |
| 6 | FIL LTD | 3.96% | 11.77M | $286.58M |
| 7 | Pentwater Capital Management Lp | 3.83% | 11.38M | $277.11M |
| 8 | Millennium Management Llc | 3.13% | 9.29M | $226.22M |
| 9 | Citadel Advisors Llc | 2.84% | 8.44M | $205.46M |
| 10 | Glazer Capital LLC | 2.63% | 7.82M | $190.33M |
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Analyst aggregate. Targets and ratings update periodically; not investment advice.
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