# Clearwater Analytics Holdings share price (Clearwater Analytics Holdings, Inc., CWAN)

> Clearwater Analytics Holdings, Inc.'s share price has risen faster than its earnings: +11.6% in a year, against −108.5% for earnings per share. CWAN · Technology · Software - Application · data as of 24 June 2026. Page: https://www.sectoralpha.in/us/stocks/cwan

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## Key numbers

- Price: $24.56 (+11.6% in a year)
- P/E: 15.8× (higher than 98% of the last 10 months)
- Revenue (Mar 2026): $221 M (+74.4% on a year ago)
- Profit (Mar 2026): −$2.8 M (−142.6% on a year ago)
- Operating margin: 4.1% (−6.1 points on a year ago)
- ROE: −2%, FY25

The main question: the share price moved +11.6% in a year while yearly earnings per share moved −108.5%. The difference came from the market paying a higher multiple. ## What is the Clearwater Analytics Holdings share price? Clearwater Analytics Holdings, Inc.'s share price was $24.56 at the close on 24 June 2026. That is 10.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between $16 and $25, and at that close it was at the high of that range. Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 11 weeks running. Over the last 1 year the share price moved +12% while the S&P 500 moved +19%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 10 April 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What dividend does Clearwater Analytics Holdings pay? Clearwater Analytics Holdings, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes. ## Which stock lists is Clearwater Analytics Holdings on? Clearwater Analytics Holdings is on one of our US lists: US tech stocks. [US tech stocks](https://www.sectoralpha.in/us-tech-stocks)

## Is Clearwater Analytics Holdings profitable? Clearwater Analytics Holdings, Inc. posted a net loss of $2.8 M in the Mar 2026 quarter. The full FY25 year was a loss of $38.8 M. That loss is 1.3% of the quarter's revenue. The same quarter a year earlier earned $6.5 M. 8 of the last 12 reported quarters were loss-making. Mar 2026 profit was −$2.8 M, −142.6% on a year earlier. For the full year, FY25 profit was −$38.8 M (−109.1% on the year before). Why profit moved: revenue changed +74.4% on a year earlier and the margin moved −6.1 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −210.1% and revenue +73.5%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Clearwater Analytics Holdings make, and is it growing? Clearwater Analytics Holdings, Inc. reported $221 M of revenue in the Mar 2026 quarter, +74.4% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 4 years it has grown 30.5% a year on average. The last full year, FY25, came in at $731 M. The last four reported quarters add to $826 M. FY25 revenue was $731 M, +61.9% on the year before. Recent pace: the last four quarters grew +73.5% on average, against 30.5% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +73.5%, against +46.2% a year over the last 8 quarters (accelerating). ## How much of every $100 of sales does Clearwater Analytics Holdings keep? Clearwater Analytics Holdings, Inc.'s operating margin was 4.1% in the Mar 2026 quarter, 6.1 percentage points lower than the same quarter a year ago. Across 5 years it has been between −4.5% and 11.5%. The latest quarter is within that range. Why the margin moved: operating margin changed −6.1 percentage points on the year while gross margin changed −7.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Clearwater Analytics Holdings' profit turning into cash? Clearwater Analytics Holdings, Inc.'s cash-flow history is too short to judge how much of its profit turns into cash. In FY25 it brought in $176 M of operating cash against −$38.8 M of profit. After $11.6 M of spending on assets, $164 M was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Clearwater Analytics Holdings' cash go? Clearwater Analytics Holdings, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $22.4 M on assets over the last 3 years. Averaged over those years that is 1.0% of FY25 revenue a year. Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn. Spending on assets: $22.4 M over the last 3 years. In short: most of the cash goes on covering the loss, not on new assets; spending on assets is small next to it. ## What is Clearwater Analytics Holdings' P/E ratio, and how does it compare with its own history? Clearwater Analytics Holdings, Inc.'s P/E is 15.8×, about the highest it has ever been. Its usual P/E (the middle reading) is 14.2×, over 10 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −108.5% while the price moved +11.6%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Clearwater Analytics Holdings business getting better or worse? Clearwater Analytics Holdings, Inc.'s business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 12 quarters of 2 measures, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Clearwater Analytics Holdings earn on its capital? Clearwater Analytics Holdings, Inc. earned a ROE of −2% in FY25. That is up from a low of −5% in FY23. Its return on capital used (ROIC) is 7.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −5.3% net margin and 0.24× asset turnover (sales divided by assets). Why the return is what it is (FY25): a −5.3% net margin × 0.24× asset turnover × 1.49× leverage (assets divided by equity) ≈ −1.9% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: −0.1% − 7.3% = −7.4 percentage points. The 7.3% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Clearwater Analytics Holdings have too much debt? Clearwater Analytics Holdings, Inc. has total debt of $861 M against shareholder equity of $2.1 B as of Mar 2026, so its debt is 0.42× its equity. Year by year, that ratio went from 0.21 in FY21 to 0.42 in FY25. Keep that borrowing in mind when reading the returns on this page. ## What is the Clearwater Analytics Holdings shareholding pattern? 7.4% of Clearwater Analytics Holdings, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 7.2 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead. It is a single reading at one point in time; we do not have its history. Why it is at this level: the figure does not say who holds the short positions or why, so we show the level without guessing the story. ## How far is Clearwater Analytics Holdings from balance-sheet trouble? For Clearwater Analytics Holdings, Inc., the Z-score is 4.21. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 4.21 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Clearwater Analytics Holdings rank in its industry? There is no score against its industry: Clearwater Analytics Holdings, Inc. is not among the largest members shown in this industry comparison for Software - Application. The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown. ## Which companies is Clearwater Analytics Holdings compared with? No sector comparison is shown here, not among the largest members shown in this industry comparison. ## Which companies are close to Clearwater Analytics Holdings in size? Clearwater Analytics Holdings is the 46th largest of 142 Software - Application companies on Sector Alpha by market value (scores of 5 November 2026). Just above it: Clear Secure, Inc., Duolingo, Inc. and InterDigital, Inc. Just below it: Lyft, Inc., Navan, Inc. and Commvault Systems, Inc. ### Software - Application companies close in size

1. [Clear Secure, Inc.](https://www.sectoralpha.in/us/stocks/you) $7.4 billion
2. [Duolingo, Inc.](https://www.sectoralpha.in/us/stocks/duol) $7.4 billion
3. [InterDigital, Inc.](https://www.sectoralpha.in/us/stocks/idcc) $7.4 billion
4. Clearwater Analytics Holdings, Inc. $7.4 billion
5. [Lyft, Inc.](https://www.sectoralpha.in/us/stocks/lyft) $6.8 billion
6. [Navan, Inc.](https://www.sectoralpha.in/us/stocks/navn) $6.6 billion
7. [Commvault Systems, Inc.](https://www.sectoralpha.in/us/stocks/cvlt) $6.4 billion

[All 142 Software - Application companies, largest first](https://www.sectoralpha.in/us/sectors/software-application#all-companies)

### Companies close in size in other industries

1. [Bausch + Lomb Corporation](https://www.sectoralpha.in/us/stocks/blco) $7.4 billion · Medical Instruments & Supplies
2. [Armstrong World Industries, Inc.](https://www.sectoralpha.in/us/stocks/awi) $7.4 billion · Building Products & Equipment
3. Clearwater Analytics Holdings, Inc. $7.4 billion
4. [STAG Industrial, Inc.](https://www.sectoralpha.in/us/stocks/stag) $7.4 billion · REIT - Industrial
5. [Vicor Corporation](https://www.sectoralpha.in/us/stocks/vicr) $7.3 billion · Electronic Components

## What else do people ask about Clearwater Analytics Holdings? ### What were Clearwater Analytics Holdings's latest quarterly results? Clearwater Analytics Holdings, Inc. reported revenue of $221 M and a net loss of $2.8 M for the Mar 2026 quarter. Revenue rose 74.4% and profit fell 142.6% compared with a year earlier. Earnings per share were −$0.01 (as of 24 June 2026). ### What is Clearwater Analytics Holdings's market cap? Clearwater Analytics Holdings, Inc.'s market capitalisation is $7.4 B at a stock price of $24.56. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 24 June 2026). ### How is Clearwater Analytics Holdings performing? Clearwater Analytics Holdings, Inc.'s latest readings are below. In its latest quarter, revenue rose 74.4% and profit fell 142.6% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 11 weeks running. This describes what the data did, not a rating (as of 24 June 2026). ### Will Clearwater Analytics Holdings's stock price go up? This page does not forecast Clearwater Analytics Holdings, Inc.'s stock price. What it shows instead: the stock price is $24.56. Its P/E of 15.8× is higher than 98% of its own last 1 years. Nobody can reliably say which way a price will move, and this site does not try (as of 24 June 2026). ### Where is Clearwater Analytics Holdings in its business cycle? Clearwater Analytics Holdings, Inc.'s FY25 operating margin was 0.1%, against a 5-year range of −4.5% to 11.5%: the middle of its own range, neither a peak nor a low. The latest quarter was 4.1%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 24 June 2026). ### What could break the Clearwater Analytics Holdings story? The main question: the share price moved +11.6% in a year while yearly earnings per share moved −108.5%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 24 June 2026). ### Is Clearwater Analytics Holdings a stock worth studying right now? What the numbers show: Clearwater Analytics Holdings, Inc.'s share price has risen faster than its earnings: +11.6% in a year, against −108.5% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 24 June 2026). ## Lists

- US tech stocks: https://www.sectoralpha.in/us-tech-stocks

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