(CWAN) Clearwater Analytics - Overview

Sector: Technology | Industry: Software - Application | Exchange: NYSE (USA) | Market Cap: 7.265m USD | Total Return: 3% in 12m

Investment Accounting, Data Aggregation, Portfolio Reporting, Risk Analytics
Total Rating 47
Safety 63
Buy Signal 0.00
Software - Application
Industry Rotation: -4.6
Market Cap: 7.27B
Avg Turnover: 61.8M
Risk 3d forecast
Volatility3.25%
VaR 5th Pctl0.54%
VaR vs Median1.02%
Reward TTM
Sharpe Ratio0.12
Rel. Str. IBD47.9
Rel. Str. Peer Group71.4
Character TTM
Beta0.284
Beta Downside-0.109
Hurst Exponent0.565
Drawdowns 3y
Max DD51.54%
CAGR/Max DD0.27
CAGR/Mean DD0.78
EPS (Earnings per Share) EPS (Earnings per Share) of CWAN over the last years for every Quarter: "2021-06": 0.04, "2021-09": 0.04, "2021-12": 0.06, "2022-03": 0.05, "2022-06": 0.05, "2022-09": 0.06, "2022-12": 0.07, "2023-03": 0.07, "2023-06": 0.08, "2023-09": 0.09, "2023-12": 0.1, "2024-03": 0.1, "2024-06": 0.1, "2024-09": 0.12, "2024-12": 0.13, "2025-03": 0.13, "2025-06": 0.12, "2025-09": 0.14, "2025-12": -0.04, "2026-03": 0.16,
EPS CAGR: 14.41%
EPS Trend: 62.9%
Last SUE: 0.00
Qual. Beats: 0
Revenue Revenue of CWAN over the last years for every Quarter: 2021-06: 60.876, 2021-09: 64.489, 2021-12: 69.763, 2022-03: 70.778, 2022-06: 73.409, 2022-09: 76.552, 2022-12: 82.687, 2023-03: 84.606, 2023-06: 89.879, 2023-09: 94.664, 2023-12: 99.019, 2024-03: 102.719, 2024-06: 106.791, 2024-09: 115.828, 2024-12: 126.465, 2025-03: 126.864, 2025-06: 181.937, 2025-09: 205.11, 2025-12: 217.457, 2026-03: 221.228,
Rev. CAGR: 37.49%
Rev. Trend: 96.7%
Last SUE: 1.67
Qual. Beats: 1

Warnings

Share dilution 19.8% YoY

High Debt/EBITDA (7.8) with thin interest coverage (-0.1)

Interest Coverage Ratio -0.1 is critical

Tailwinds

No distinct edge detected

Description: CWAN Clearwater Analytics

Clearwater Analytics Holdings Inc. (CWAN) operates a cloud-native SaaS platform designed to automate the lifecycle of investment data. The company provides a unified system for data aggregation, reconciliation, accounting, and regulatory reporting, serving institutional clients including insurers, asset managers, and government entities.

The business model utilizes a single-instance, multi-tenant architecture, which allows for real-time updates and consistent data standards across its entire global user base. In the financial technology sector, this approach reduces the high operational risks and costs typically associated with legacy on-premise accounting software.

For a deeper look into the companys valuation metrics, consider reviewing the detailed analysis on ValueRay. Founded in 2004 and headquartered in Boise, Idaho, the firm maintains a significant presence in the Application Software industry by integrating front, middle, and back-office investment functions into a single platform.

Headlines to Watch Out For
  • Expansion into international markets drives long-term subscription revenue growth
  • Insurance industry adoption of automated reporting increases market share
  • Investment in generative AI features enhances premium tier pricing power
  • Transition of legacy asset managers to cloud platforms boosts onboarding
  • Macroeconomic volatility increases demand for real-time risk analytics software
Piotroski VR-10 (Strict) 3.5
Net Income: -48.1m TTM > 0 and > 6% of Revenue
FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.46 > 1.0
NWC/Revenue: 19.83% < 20% (prev 71.25%; Δ -51.42% < -1%)
CFO/TA 0.06 > 3% & CFO 169.1m > Net Income -48.1m
Net Debt (833.8m) to EBITDA (107.6m): 7.75 < 3
Current Ratio: 2.26 > 1.5 & < 3
Outstanding Shares: last quarter (295.0m) vs 12m ago 19.81% < -2%
Gross Margin: 65.97% > 18% (prev 72.95%; Δ -6.98% > 0.5%)
Asset Turnover: 38.30% > 50% (prev 37.03%; Δ 1.27% > 0%)
Interest Coverage Ratio: -0.08 > 6 (EBIT TTM -4.37m / Interest Expense TTM 57.4m)
Altman Z'' 2.84
A: 0.05 (Total Current Assets 294.2m - Total Current Liabilities 130.5m) / Total Assets 3.03b
B: 0.09 (Retained Earnings 261.6m / Total Assets 3.03b)
C: -0.00 (EBIT TTM -4.37m / Avg Total Assets 2.16b)
D: 2.11 (Book Value of Equity 2.05b / Total Liabilities 972.3m)
Altman-Z'' = 2.84 = A
Beneish M -2.32
DSRI: 0.85 (Receivables 169.6m/114.5m, Revenue 825.7m/475.9m)
GMI: 1.11 (GM 72.95% / 65.97%)
AQI: 1.36 (AQ_t 0.88 / AQ_t-1 0.64)
SGI: 1.73 (Revenue 825.7m / 475.9m)
TATA: -0.07 (NI -48.1m - CFO 169.1m) / TA 3.03b)
Beneish M = -2.32 (Cap -4..+1) = BBB
What is the price of CWAN shares?

As of June 07, 2026, the stock is trading at USD 24.37 with a total of 1,866,860 shares traded.
Over the past week, the price has changed by +0.12%, over one month by +0.74%, over three months by +3.53% and over the past year by +3.00%.

Is CWAN a buy, sell or hold?

Clearwater Analytics has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy CWAN.

  • StrongBuy: 7
  • Buy: 4
  • Hold: 1
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the CWAN price?
Analysts Target Price 24.5 0.4%
Clearwater Analytics (CWAN) - Fundamental Data Overview as of 01 June 2026
Market Cap USD = 7.27b (7.27b USD * 1.0 USD.USD)
P/E Forward = 34.7222
P/S = 8.7985
P/B = 3.5316
P/EG = 10.2269
Revenue TTM = 825.7m USD
EBIT TTM = -4.37m USD
EBITDA TTM = 107.6m USD
Long Term Debt = 798.4m USD (from longTermDebt, last quarter)
Short Term Debt = 22.2m USD (from shortTermDebt, last quarter)
Debt = 915.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 54.4m
Net Debt = 833.8m USD (calculated: Debt 915.3m - CCE 81.5m)
Enterprise Value = 8.10b USD (7.27b + Debt 915.3m - CCE 81.5m)
Interest Coverage Ratio = -0.08 (Ebit TTM -4.37m / Interest Expense TTM 57.4m)
EV/FCF = 53.11x (Enterprise Value 8.10b / FCF TTM 152.5m)
FCF Yield = 1.88% (FCF TTM 152.5m / Enterprise Value 8.10b)
FCF Margin = 18.47% (FCF TTM 152.5m / Revenue TTM 825.7m)
Net Margin = -5.82% (Net Income TTM -48.1m / Revenue TTM 825.7m)
Gross Margin = 65.97% ((Revenue TTM 825.7m - Cost of Revenue TTM 281.0m) / Revenue TTM)
Gross Margin QoQ = 65.79% (prev 67.24%)
Tobins Q-Ratio = 2.68 (Enterprise Value 8.10b / Total Assets 3.03b)
Interest Expense / Debt = 6.27% (Interest Expense 57.4m / Debt 915.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -3.45m (EBIT -4.37m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.26 (Total Current Assets 294.2m / Total Current Liabilities 130.5m)
Debt / Equity = 0.45 (Debt 915.3m / totalStockholderEquity, last quarter 2.05b)
Debt / EBITDA = 7.75 (Net Debt 833.8m / EBITDA 107.6m)
Debt / FCF = 5.47 (Net Debt 833.8m / FCF TTM 152.5m)
Total Stockholder Equity = 2.01b (last 4 quarters mean from totalStockholderEquity)
RoA = -2.23% (Net Income -48.1m / Total Assets 3.03b)
RoE = -2.40% (Net Income TTM -48.1m / Total Stockholder Equity 2.01b)
RoCE = -0.16% (EBIT -4.37m / Capital Employed (Equity 2.01b + L.T.Debt 798.4m))
 RoIC = -0.12% (negative operating profit) (NOPAT -3.45m / Invested Capital 2.88b)
 WACC = 6.75% (E(7.27b)/V(8.18b) * Re(6.98%) + D(915.3m)/V(8.18b) * Rd(6.27%) * (1-Tc(0.21)))
Discount Rate = 6.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 82.22 | Cagr: 17.25%
[DCF] Terminal Value 77.97% ; FCFF base≈124.9m ; Y1≈143.2m ; Y5≈210.7m
[DCF] Fair Price = 7.86 (EV 3.17b - Net Debt 833.8m = Equity 2.34b / Shares 297.4m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 62.87 | EPS CAGR: 14.41% | SUE: 0.0 | # QB: 0
Revenue Correlation: 96.75 | Revenue CAGR: 37.49% | SUE: 1.67 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.16 | Chg30d=-5.14% | Revisions=+0% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.17 | Chg30d=-9.48% | Revisions=-20% | Analysts=7
EPS current Year (2026-12-31): EPS=0.68 | Chg30d=-2.68% | Revisions=+33% | GrowthEPS=+25.2% | GrowthRev=+29.8%
EPS next Year (2027-12-31): EPS=0.26 | Chg30d=+0.00% | Revisions=-20% | GrowthEPS=+271.4% | GrowthRev=+17.2%
[Analyst] Revisions Ratio: +33%