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Clearwater Analytics Holdings, Inc. CWAN

NYSE · stock · Services-Prepackaged Software · website · IPO 2021-09-24

Clearwater Analytics Holdings, Inc. statistics & valuation

Market cap$7.3B
P / S10.0×
P / B3.6×
P / FCF44.6×
Net margin-5.3%
Return on equity-1.9%
FCF margin22.5%
Net debt$731.4M
Net debt / EBITDA9.4×
Enterprise value USD$8.1B
Earnings yield EBIT/EV-0.1%
Return on capital-0.3%

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
-3.30% -2.60% -5.90% 93.90% -5.30% 202020212022202320242025
Gross margin (%)
73.80% 73.10% 71.10% 70.90% 72.80% 67.30% 202020212022202320242025
Operating margin (%)
-10.00% 11.30% 1.70% -4.50% 2.70% -1.10% 202020212022202320242025
Return on equity (%)
-3.10% -2.40% -5.30% 41.20% -1.90% 202020212022202320242025
Shares outstanding
177.7M 185.6M 199.7M 254.4M 271.3M 202020212022202320242025
Net debt ($)
-$200.3M -$199.2M -$175.7M -$134.0M $731.4M 202020212022202320242025
Share buybacks ($)
202020212022202320242025
Return on assets (%)
-2.40% -1.70% -3.90% 36.30% -1.30% 202020212022202320242025
Free cash flow margin (%)
-5.10% -0.70% 16.60% 21.50% 15.30% 22.50% 202020212022202320242025
Debt / equity (×)
0.21× 0.15× 0.11× 0.04× 0.41× 202020212022202320242025
EPS ($)
-$0.05 -$0.04 -$0.11 $1.68 -$0.14 202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020
Gross margin67.3%72.8%70.9%71.1%73.1%73.8%
Operating margin-1.1%2.7%-4.5%1.7%11.3%-10.0%
Net margin-5.3%93.9%-5.9%-2.6%-3.3%—
FCF margin22.5%15.3%21.5%16.6%-0.7%-5.1%
Return on assets-1.3%36.3%-3.9%-1.7%-2.4%—
Return on equity-1.9%41.2%-5.3%-2.4%-3.1%—
Debt / equity0.41×0.04×0.11×0.15×0.21×—
Current ratio1.834.995.155.4010.302.66

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.