Clarivate (CLVT) Financials

$2.80 +0.03 (+0.90%)

Closing price 05/6/2026 03:59 PM Eastern

Extended Trading

$2.84 +0.04 (+1.61%)

As of 07:17 AM Eastern

Annual Income Statements for Clarivate

This table shows Clarivate's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-264	-242	-259	-351	-312	-4,036	-987	-668	-201
Consolidated Net Income / (Loss)	-264	-242	-259	-351	-271	-3,960	-911	-637	-201
Net Income / (Loss) Continuing Operations	-264	-242	-259	-351	-271	-3,960	-911	-637	-201
Total Pre-Tax Income	-285	-237	-248	-353	-258	-3,989	-1,013	-554	-194
Total Operating Income	-147	-106	-82	-36	-87	-3,926	-735	-276	72
Total Gross Profit	523	538	622	815	1,251	1,706	1,722	1,688	1,622
Total Revenue	918	968	974	1,254	1,877	2,660	2,629	2,557	2,455
Operating Revenue	918	968	974	1,254	1,877	2,660	2,629	2,557	2,455
Total Cost of Revenue	394	430	352	439	626	954	906	869	834
Operating Cost of Revenue	394	430	352	439	626	954	906	869	834
Total Operating Expenses	670	644	705	852	1,338	5,631	2,457	1,963	1,550
Selling, General & Admin Expense	343	413	475	545	643	730	740	728	709
Depreciation Expense	7.00	9.42	9.18	303	538	711	708	727	757
Other Operating Expenses / (Income)	2.48	-6.38	-4.83	-52	28	-325	-11	-52	19
Impairment Charge	0.00	0.00	18	0.00	130	4,516	1,020	560	66
Total Other Income / (Expense), net	-138	-131	-166	-317	-171	-64	-278	-278	-265
Interest & Investment Income	-	-	-	-	-	-270	-294	-283	-265
Other Income / (Expense), net	-	0.00	-8.26	-205	81	207	16	5.20	0.00
Income Tax Expense	-21	5.65	10	-2.70	12	-29	-101	83	7.20
Preferred Stock Dividends Declared	-	-	0.00	0.00	42	75	75	31	0.00
Basic Earnings per Share	($1.22)	($1.11)	($0.94)	($0.82)	($0.49)	($5.97)	($1.47)	($0.96)	($0.30)
Weighted Average Basic Shares Outstanding	216.85M	217.47M	273.88M	427M	631M	676.10M	671.60M	693.60M	673.30M
Diluted Earnings per Share	($1.22)	($1.11)	($0.94)	($0.82)	($0.61)	($6.24)	($1.47)	($0.96)	($0.30)
Weighted Average Diluted Shares Outstanding	216.85M	217.47M	273.88M	427M	640.80M	678.60M	671.60M	693.60M	673.30M
Weighted Average Basic & Diluted Shares Outstanding	216.85M	217.47M	273.88M	427.02M	683.15M	674.43M	666.29M	691.64M	640.70M

This table shows Clarivate's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-6.60	-863	-94	-317	-66	-192	-104	-72	-28	3.10	-40
Consolidated Net Income / (Loss)	12	-844	-75	-304	-66	-192	-104	-72	-28	3.10	-40
Net Income / (Loss) Continuing Operations	12	-844	-75	-304	-66	-192	-104	-72	-28	3.10	-40
Total Pre-Tax Income	28	-862	-60	-311	-51	-132	-85	-60	-25	-25	-29
Total Operating Income	87	-788	5.00	-240	22	-62	-21	6.90	44	41	30
Total Gross Profit	427	452	403	437	412	435	387	418	405	412	393
Total Revenue	647	684	621	650	622	663	594	621	623	617	586
Operating Revenue	647	684	621	650	622	663	594	621	623	617	586
Total Cost of Revenue	221	232	218	214	210	228	207	204	218	205	192
Operating Cost of Revenue	221	232	218	214	210	228	207	204	218	205	192
Total Operating Expenses	339	1,240	398	677	390	498	408	411	361	371	363
Selling, General & Admin Expense	172	180	192	185	170	181	178	181	170	179	176
Depreciation Expense	177	181	179	184	177	186	185	191	192	189	184
Other Operating Expenses / (Income)	-13	20	18	3.60	26	-99	19	30	-13	-17	-9.10
Restructuring Charge	-	-	-	0.70	4.00	-	25	9.30	12	-	12
Total Other Income / (Expense), net	-59	-74	-65	-71	-72	-70	-64	-67	-69	-66	-59
Interest & Investment Income	-72	-75	-70	-71	-72	-70	-64	-67	-69	-66	-59
Income Tax Expense	16	-18	15	-6.80	15	60	19	12	3.80	-28	11
Basic Earnings per Share	($0.01)	($1.29)	($0.14)	($0.46)	($0.09)	($0.27)	($0.15)	($0.11)	($0.04)	-	($0.06)
Weighted Average Basic Shares Outstanding	670.90M	671.60M	666.90M	685.60M	718.70M	693.60M	689.80M	681.30M	668.30M	673.30M	640.70M
Diluted Earnings per Share	($0.01)	($1.29)	($0.14)	($0.46)	($0.09)	($0.27)	($0.15)	($0.11)	($0.04)	-	($0.06)
Weighted Average Diluted Shares Outstanding	670.90M	671.60M	666.90M	685.60M	718.70M	693.60M	689.80M	681.30M	668.30M	673.30M	640.70M
Weighted Average Basic & Diluted Shares Outstanding	663.92M	666.29M	668.24M	724.14M	710.40M	691.64M	683.09M	672.22M	661.44M	640.70M	639.22M

This table details how cash moves in and out of Clarivate's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-7.47	-52	51	196	315	-231	14	-76	34
Net Cash From Operating Activities	6.67	-26	118	264	324	509	744	647	629
Net Cash From Continuing Operating Activities	6.67	-26	118	264	324	509	744	647	629
Net Income / (Loss) Continuing Operations	-264	-242	-259	-351	-271	-3,960	-911	-637	-201
Consolidated Net Income / (Loss)	-264	-242	-259	-351	-271	-3,960	-911	-637	-201
Depreciation Expense	228	237	201	303	538	711	708	727	757
Amortization Expense	-	-	-	-	13	16	18	16	14
Non-Cash Adjustments To Reconcile Net Income	14	6.04	172	204	-25	4,059	989	534	91
Changes in Operating Assets and Liabilities, net	28	-27	3.72	107	68	-317	-60	5.90	-33
Net Cash From Investing Activities	-40	12	-141	-2,989	-4,045	57	-237	-237	-263
Net Cash From Continuing Investing Activities	-40	12	-141	-2,989	-4,045	57	-237	-237	-263
Purchase of Property, Plant & Equipment	-38	-45	-70	-108	-119	-203	-243	-289	-263
Acquisitions	-7.40	-24	-71	-2,923	-3,930	-25	-5.40	-32	0.00
Divestitures	5.00	81	0.00	41	4.30	285	11	84	0.00
Net Cash From Financing Activities	23	-33	75	2,927	4,032	-759	-497	-470	-343
Net Cash From Continuing Financing Activities	23	-33	75	2,927	4,032	-759	-497	-470	-343
Repayment of Debt	-16	-77	-2,076	-176	-61	-494	-301	-217	-608
Repurchase of Common Equity	-	-	-200	0.00	-159	-175	-100	-200	-225
Payment of Dividends	-	-	0.00	0.00	-19	-75	-76	-38	0.00
Issuance of Debt	30	45	1,670	2,020	2,018	-	0.00	0.00	500
Other Financing Activities, net	9.06	-0.90	681	239	-6.30	-15	-21	-16	-10
Effect of Exchange Rate Changes	3.25	-5.19	-0.97	-5.00	3.70	-38	3.60	-15	12
Cash Interest Paid	115	122	101	98	182	252	274	265	256
Cash Income Taxes Paid	15	13	29	28	34	64	43	53	42

This table details how cash moves in and out of Clarivate's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-36	-37	57	-4.60	12	-93	59	8.60	-44	11	-87
Net Cash From Operating Activities	163	191	176	126	203	141	171	116	181	160	135
Net Cash From Continuing Operating Activities	163	191	176	126	203	141	171	116	181	160	135
Net Income / (Loss) Continuing Operations	12	-844	-75	-304	-66	-192	-104	-72	-28	3.10	-40
Consolidated Net Income / (Loss)	12	-844	-75	-304	-66	-192	-104	-72	-28	3.10	-40
Depreciation Expense	177	181	179	184	177	186	185	191	192	189	184
Amortization Expense	3.80	5.30	4.70	3.20	3.20	5.30	2.90	4.80	3.60	3.00	3.30
Non-Cash Adjustments To Reconcile Net Income	7.60	922	23	300	46	194	32	40	-8.20	27	-2.60
Changes in Operating Assets and Liabilities, net	-37	-73	44	-57	42	-52	55	-47	22	-62	-9.80
Net Cash From Investing Activities	-63	-67	-64	-102	-92	21	-61	-66	-66	-71	-56
Net Cash From Continuing Investing Activities	-63	-67	-64	-102	-92	21	-61	-66	-66	-71	-56
Purchase of Property, Plant & Equipment	-62	-64	-64	-66	-77	-82	-61	-66	-66	-71	-56
Net Cash From Financing Activities	-124	-174	-95	-26	-110	-240	-57	-54	-155	-78	-162
Net Cash From Continuing Financing Activities	-124	-174	-55	-26	-110	-240	-57	-54	-155	-78	-162
Repayment of Debt	-0.30	-150	-48	-5.50	-5.70	-138	-0.20	-503	-103	-2.10	-139
Repurchase of Common Equity	-	-	0.00	-	-	-100	-50	-50	-50	-75	-18
Other Financing Activities, net	-5.10	-5.80	-8.60	-1.30	-4.00	-1.70	-6.40	-1.70	-1.50	-0.80	-5.30
Effect of Exchange Rate Changes	-12	14	-	-3.00	10	-16	5.10	12	-4.70	-0.80	-3.60

This table presents Clarivate's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	3,710	3,791	14,791	20,183	13,945	12,707	11,490	11,069
Total Current Assets	409	493	1,148	1,637	1,395	1,462	1,245	1,310
Cash & Equivalents	26	76	258	431	357	371	295	329
Accounts Receivable	331	334	738	906	872	908	798	822
Prepaid Expenses	31	41	58	77	89	89	86	94
Other Current Assets	21	42	79	67	77	68	65	65
Plant, Property, & Equipment, net	21	18	36	84	55	52	54	53
Total Noncurrent Assets	3,301	3,298	13,607	18,462	12,495	11,193	10,192	9,707
Goodwill	1,283	1,328	6,043	7,905	2,877	2,024	1,567	1,567
Intangible Assets	1,959	1,829	7,370	10,392	9,438	9,007	8,441	8,008
Noncurrent Deferred & Refundable Income Taxes	12	19	30	28	24	47	49	17
Other Noncurrent Operating Assets	27	104	164	137	157	116	136	115
Total Liabilities & Shareholders' Equity	3,710	3,791	14,791	20,183	13,945	12,707	11,490	11,069
Total Liabilities	2,659	2,543	5,756	8,257	7,132	6,715	6,351	6,227
Total Current Liabilities	644	651	1,423	1,902	1,560	1,600	1,434	1,569
Short-Term Debt	60	9.00	29	31	-	-	1.30	102
Accounts Payable	38	26	82	129	101	144	125	151
Accrued Expenses	-	159	570	529	353	315	309	273
Current Deferred Revenue	391	407	707	1,030	948	983	859	879
Current Employee Benefit Liabilities	-	-	-	151	132	127	119	147
Other Current Liabilities	154	22	35	32	26	24	21	18
Total Noncurrent Liabilities	2,015	1,892	4,333	6,355	5,573	5,115	4,918	4,658
Long-Term Debt	1,930	1,629	3,458	5,456	5,005	4,721	4,519	4,322
Noncurrent Deferred & Payable Income Tax Liabilities	43	49	367	380	316	250	273	212
Other Noncurrent Operating Liabilities	25	195	467	465	213	105	126	124
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,051	1,249	9,035	11,926	6,813	5,992	5,139	4,843
Total Preferred & Common Equity	1,051	1,249	9,035	11,926	6,813	5,992	5,139	4,843
Total Common Equity	1,051	1,249	9,035	10,533	5,420	4,600	5,139	4,843
Common Stock	1,678	2,144	9,989	11,828	11,745	11,741	12,979	12,811
Retained Earnings	-632	-891	-1,251	-1,604	-5,659	-6,646	-7,314	-7,515
Accumulated Other Comprehensive Income / (Loss)	5.36	-4.88	492	327	-666	-495	-526	-453

This table presents Clarivate's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	13,749	13,940	13,706	13,418	12,505	12,078	12,031	11,493	11,421	11,228	10,927
Total Current Assets	1,452	1,451	1,418	1,375	1,391	1,335	1,339	1,354	1,340	1,291	1,301
Cash & Equivalents	446	364	436	399	362	376	389	354	363	319	242
Accounts Receivable	749	839	770	767	823	796	772	831	820	811	883
Prepaid Expenses	99	111	102	100	100	87	98	101	89	94	109
Other Current Assets	150	127	77	75	68	75	81	69	69	68	67
Plant, Property, & Equipment, net	57	52	51	50	49	46	47	55	56	53	51
Total Noncurrent Assets	12,240	12,436	12,237	11,994	11,065	10,697	10,644	10,083	10,025	9,884	9,575
Goodwill	2,804	2,892	2,896	2,865	2,023	1,737	1,737	1,567	1,567	1,567	1,567
Intangible Assets	9,249	9,397	9,186	8,955	8,874	8,771	8,727	8,341	8,284	8,149	7,864
Noncurrent Deferred & Refundable Income Taxes	24	25	27	26	47	49	51	49	51	49	17
Other Noncurrent Operating Assets	163	123	129	147	121	140	130	127	123	119	128
Total Liabilities & Shareholders' Equity	13,749	13,940	13,706	13,418	12,505	12,078	12,031	11,493	11,421	11,228	10,927
Total Liabilities	7,674	6,980	6,767	6,736	6,616	6,473	6,517	6,466	6,427	6,324	6,138
Total Current Liabilities	1,633	1,610	1,498	1,469	1,615	1,485	1,526	1,541	1,479	1,490	1,542
Short-Term Debt	57	1.10	1.10	1.10	-	-	-	-	-	-	1.50
Accounts Payable	106	102	108	99	103	128	127	120	126	140	136
Accrued Expenses	417	362	317	347	365	314	375	333	293	329	286
Current Deferred Revenue	858	1,040	940	889	1,010	912	890	979	929	873	1,000
Current Employee Benefit Liabilities	108	80	101	103	86	107	112	88	111	130	101
Other Current Liabilities	29	25	24	24	24	23	22	21	20	19	18
Total Noncurrent Liabilities	6,042	5,371	5,269	5,267	5,002	4,988	4,992	4,925	4,948	4,834	4,596
Long-Term Debt	5,417	4,885	4,863	4,866	4,638	4,635	4,633	4,521	4,517	4,419	4,282
Noncurrent Deferred & Payable Income Tax Liabilities	351	314	262	256	246	229	227	276	284	275	205
Other Noncurrent Operating Liabilities	236	134	106	109	100	100	110	128	147	141	110
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,075	6,959	6,938	6,682	5,888	5,605	5,514	5,027	4,994	4,904	4,789
Total Preferred & Common Equity	6,075	6,959	6,938	6,682	5,888	5,605	5,514	5,027	4,994	4,904	4,789
Total Common Equity	4,682	5,567	5,546	5,290	4,496	5,605	5,514	5,027	4,994	4,904	4,789
Common Stock	11,718	11,778	11,809	11,730	11,747	13,158	13,069	12,935	12,903	12,868	12,801
Retained Earnings	-5,955	-5,634	-5,776	-5,783	-6,739	-7,056	-7,122	-7,417	-7,489	-7,518	-7,555
Accumulated Other Comprehensive Income / (Loss)	-1,070	-578	-488	-658	-512	-497	-434	-491	-419	-446	-458

This table displays calculated financial ratios and metrics derived from Clarivate's official financial filings.

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	5.54%	0.61%	28.71%	49.66%	41.71%	-1.17%	-2.74%	-3.97%
EBITDA Growth	0.00%	61.50%	-16.51%	-43.72%	782.36%	-648.67%	100.26%	6,042.86%	78.22%
EBIT Growth	0.00%	28.10%	14.16%	-166.03%	97.64%	-65,142.11%	80.67%	62.38%	126.44%
NOPAT Growth	0.00%	28.10%	21.97%	55.99%	-139.67%	-4,412.18%	81.28%	62.49%	125.94%
Net Income Growth	0.00%	8.25%	-6.80%	-35.56%	22.85%	-1,364.03%	76.99%	30.13%	68.42%
EPS Growth	0.00%	9.02%	15.32%	12.77%	25.61%	-922.95%	76.44%	34.69%	68.75%
Operating Cash Flow Growth	0.00%	-491.48%	550.50%	124.10%	22.88%	57.29%	46.12%	-13.11%	-2.80%
Free Cash Flow Firm Growth	0.00%	0.00%	103.91%	-7,908.13%	50.86%	156.43%	-76.16%	23.02%	-37.71%
Invested Capital Growth	0.00%	0.00%	-5.92%	331.76%	37.36%	-31.88%	-9.93%	-9.30%	-4.56%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	19.05%	5.93%	4.50%	0.32%	-0.80%	-1.84%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-58.53%	4.18%	10.93%	-99.32%	284.33%	14.15%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-192.41%	-249.96%	7.98%	-284.07%	72.82%	322.05%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	56.03%	32.28%	6.80%	-151.28%	72.48%	322.05%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	25.30%	-56.54%	9.89%	-455.80%	50.60%	49.22%
EPS Q/Q Growth	0.00%	0.00%	0.00%	38.35%	-48.78%	8.24%	-625.00%	51.52%	47.37%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	97.95%	-26.57%	30.36%	7.82%	-7.12%	3.05%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	43.78%	216.95%	-39.58%	15.42%	-34.71%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	230.58%	41.82%	2.76%	-7.20%	-4.05%	-0.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	57.04%	55.57%	63.87%	65.01%	66.64%	64.13%	65.52%	66.00%	66.05%
EBITDA Margin	8.87%	13.58%	11.27%	4.93%	29.05%	-112.49%	0.29%	18.50%	34.34%
Operating Margin	-16.02%	-10.92%	-8.47%	-2.89%	-4.64%	-147.59%	-27.95%	-10.78%	2.91%
EBIT Margin	-16.02%	-10.92%	-9.31%	-19.25%	-0.30%	-139.82%	-27.34%	-10.58%	2.91%
Profit (Net Income) Margin	-28.76%	-25.00%	-26.54%	-27.96%	-14.41%	-148.89%	-34.66%	-24.90%	-8.19%
Tax Burden Percent	92.53%	102.39%	104.11%	99.24%	104.76%	99.28%	90.00%	114.97%	103.71%
Interest Burden Percent	193.99%	223.74%	273.78%	146.35%	4,529.82%	107.27%	140.86%	204.81%	-271.19%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-4.91%	-1.97%	-0.34%	-0.42%	-19.43%	-4.72%	-1.96%	0.55%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-22.02%	-13.28%	-13.88%	-5.59%	-44.82%	-13.56%	-12.34%	-5.49%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-41.19%	-20.52%	-6.48%	-2.16%	-22.84%	-9.51%	-9.48%	-4.58%
Return on Equity (ROE)	0.00%	-46.10%	-22.50%	-6.82%	-2.58%	-42.27%	-14.23%	-11.44%	-4.03%
Cash Return on Invested Capital (CROIC)	0.00%	-204.91%	4.13%	-125.12%	-31.90%	18.50%	5.73%	7.80%	5.21%
Operating Return on Assets (OROA)	0.00%	-2.85%	-2.42%	-2.60%	-0.03%	-21.79%	-5.39%	-2.24%	0.63%
Return on Assets (ROA)	0.00%	-6.53%	-6.90%	-3.77%	-1.55%	-23.21%	-6.84%	-5.26%	-1.78%
Return on Common Equity (ROCE)	0.00%	-46.10%	-22.50%	-6.82%	-2.41%	-35.99%	-11.14%	-10.01%	-4.03%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-23.05%	-20.71%	-3.88%	-2.27%	-58.13%	-15.21%	-12.39%	0.00%
Net Operating Profit after Tax (NOPAT)	-103	-74	-58	-25	-61	-2,748	-514	-193	50
NOPAT Margin	-11.22%	-7.64%	-5.93%	-2.03%	-3.24%	-103.31%	-19.56%	-7.55%	2.04%
Net Nonoperating Expense Percent (NNEP)	0.00%	17.12%	11.31%	13.54%	5.17%	25.39%	8.84%	10.38%	6.04%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-23.25%	-4.80%	-2.00%	0.54%
Cost of Revenue to Revenue	42.96%	44.43%	36.13%	34.99%	33.36%	35.87%	34.48%	34.00%	33.95%
SG&A Expenses to Revenue	37.39%	42.65%	48.75%	43.43%	34.26%	27.44%	28.14%	28.46%	28.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	73.06%	66.48%	72.34%	67.91%	71.28%	211.72%	93.47%	76.78%	63.14%
Earnings before Interest and Taxes (EBIT)	-147	-106	-91	-241	-5.70	-3,719	-719	-270	72
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	81	132	110	62	545	-2,992	7.70	473	843
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	4.11	1.99	1.43	1.04	1.34	0.70	0.46
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.00	0.00	5.26	14.36	8.02	2.11	2.34	1.41	0.90
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	2.36	1.73	1.27	1.02	1.15	0.84	0.71
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	6.87	16.92	11.37	4.39	4.52	3.06	2.57
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	60.93	343.32	39.13	0.00	1,544.28	16.56	7.48
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	88.15
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	125.93
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	56.89	80.52	65.90	22.90	15.98	12.11	10.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	55.35	0.00	0.00	4.46	19.06	10.21	13.21
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.89	1.31	0.39	0.46	0.73	0.79	0.88	0.91
Long-Term Debt to Equity	0.00	1.84	1.30	0.38	0.46	0.73	0.79	0.88	0.89
Financial Leverage	0.00	1.87	1.55	0.47	0.39	0.51	0.70	0.77	0.83
Leverage Ratio	0.00	3.53	3.26	1.81	1.67	1.82	2.08	2.17	2.26
Compound Leverage Factor	0.00	7.90	8.93	2.64	75.58	1.95	2.93	4.45	-6.13
Debt to Total Capital	0.00%	65.45%	56.74%	27.84%	31.51%	42.35%	44.07%	46.79%	47.73%
Short-Term Debt to Total Capital	0.00%	1.98%	0.31%	0.23%	0.18%	0.00%	0.00%	0.00%	1.10%
Long-Term Debt to Total Capital	0.00%	63.47%	56.43%	27.62%	31.34%	42.35%	44.07%	46.79%	46.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	8.00%	11.78%	13.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	34.55%	43.26%	72.16%	60.49%	45.86%	42.93%	53.21%	52.27%
Debt to EBITDA	0.00	15.14	14.91	56.42	10.06	-1.67	613.13	9.55	5.25
Net Debt to EBITDA	0.00	14.94	14.22	52.01	8.98	-1.55	564.99	8.93	4.86
Long-Term Debt to EBITDA	0.00	14.68	14.83	55.95	10.01	-1.67	613.13	9.55	5.13
Debt to NOPAT	0.00	-26.90	-28.36	-137.21	-90.10	-1.82	-9.18	-23.42	88.37
Net Debt to NOPAT	0.00	-26.55	-27.04	-126.49	-80.45	-1.69	-8.46	-21.89	81.79
Long-Term Debt to NOPAT	0.00	-26.09	-28.21	-136.08	-89.59	-1.82	-9.18	-23.42	86.34
Altman Z-Score	0.00	0.00	1.01	1.77	1.06	-0.80	-0.18	-0.43	-0.52
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	6.64%	14.86%	21.75%	12.51%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	0.63	0.76	0.81	0.86	0.89	0.91	0.87	0.84
Quick Ratio	0.00	0.55	0.63	0.70	0.70	0.79	0.80	0.76	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-3,090	121	-9,437	-4,637	2,617	624	767	477
Operating Cash Flow to CapEx	17.64%	-57.48%	168.37%	244.66%	273.25%	251.01%	306.89%	223.66%	238.79%
Free Cash Flow to Firm to Interest Expense	0.00	-23.62	0.77	-84.34	-18.37	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.05	-0.20	0.75	2.35	1.28	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-0.23	-0.55	0.30	1.39	0.81	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.26	0.26	0.14	0.11	0.16	0.20	0.21	0.22
Accounts Receivable Turnover	0.00	2.92	2.93	2.34	2.28	2.99	2.95	3.00	3.03
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	46.92	50.38	46.18	31.26	38.46	49.55	48.65	46.24
Accounts Payable Turnover	0.00	11.20	10.85	8.09	5.93	8.27	7.38	6.47	6.06
Days Sales Outstanding (DSO)	0.00	124.86	124.59	155.94	159.87	122.03	123.60	121.82	120.42
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	32.59	33.64	45.12	61.57	44.11	49.43	56.40	60.23
Cash Conversion Cycle (CCC)	0.00	92.27	90.95	110.82	98.29	77.92	74.17	65.42	60.19
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	3,016	2,837	12,249	16,825	11,461	10,323	9,363	8,937
Invested Capital Turnover	0.00	0.64	0.33	0.17	0.13	0.19	0.24	0.26	0.27
Increase / (Decrease) in Invested Capital	0.00	3,016	-179	9,412	4,576	-5,365	-1,138	-960	-427
Enterprise Value (EV)	0.00	0.00	6,690	21,217	21,339	11,664	11,891	7,832	6,303
Market Capitalization	0.00	0.00	5,128	18,003	15,048	5,623	6,148	3,609	2,209
Book Value per Share	$0.00	$4.83	$4.09	$14.91	$16.46	$8.04	$6.93	$7.23	$7.32
Tangible Book Value per Share	$0.00	($10.07)	($6.25)	($7.23)	($12.14)	($10.23)	($9.69)	($6.85)	($7.15)
Total Capital	0.00	3,041	2,886	12,521	17,413	11,818	10,713	9,658	9,266
Total Debt	0.00	1,991	1,638	3,487	5,487	5,005	4,721	4,519	4,423
Total Long-Term Debt	0.00	1,930	1,629	3,458	5,456	5,005	4,721	4,519	4,322
Net Debt	0.00	1,965	1,561	3,214	4,899	4,648	4,350	4,224	4,094
Capital Expenditures (CapEx)	38	45	70	108	119	203	243	289	263
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-200	-225	-519	-822	-521	-509	-484	-487
Debt-free Net Working Capital (DFNWC)	0.00	-175	-149	-247	-234	-165	-138	-189	-157
Net Working Capital (NWC)	0.00	-235	-158	-276	-265	-165	-138	-189	-259
Net Nonoperating Expense (NNE)	161	168	201	325	210	1,212	397	444	251
Net Nonoperating Obligations (NNO)	0.00	1,965	1,588	3,214	4,899	4,648	4,330	4,224	4,094
Total Depreciation and Amortization (D&A)	228	237	201	303	551	727	727	743	772
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-20.69%	-23.10%	-41.41%	-43.79%	-19.60%	-19.34%	-18.93%	-19.82%
Debt-free Net Working Capital to Revenue	0.00%	-18.04%	-15.28%	-19.69%	-12.48%	-6.19%	-5.24%	-7.39%	-6.41%
Net Working Capital to Revenue	0.00%	-24.28%	-16.21%	-21.97%	-14.11%	-6.19%	-5.24%	-7.39%	-10.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($147.14)	($0.77)	($0.25)	($0.49)	$0.00	($1.47)	($0.96)	($0.30)
Adjusted Weighted Average Basic Shares Outstanding	0.00	1.65M	361.66M	607.98M	630.98M	0.00	671.60M	693.60M	673.30M
Adjusted Diluted Earnings per Share	$0.00	($147.14)	($0.77)	($0.25)	($0.61)	$0.00	($1.47)	($0.96)	($0.30)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	1.65M	361.66M	607.98M	640.77M	0.00	671.60M	693.60M	673.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($0.77)	($0.25)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	217.47M	273.88M	428.60M	683.15M	0.00	666.29M	691.64M	640.70M
Normalized Net Operating Profit after Tax (NOPAT)	-35	-74	-34	14	30	413	200	199	96
Normalized NOPAT Margin	-3.87%	-7.64%	-3.48%	1.11%	1.59%	15.53%	7.59%	7.79%	3.91%
Pre Tax Income Margin	-31.08%	-24.42%	-25.50%	-28.17%	-13.76%	-149.98%	-38.52%	-21.66%	-7.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.06	-0.81	-0.58	-2.16	-0.02	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-0.74	-0.57	-0.37	-0.23	-0.24	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-1.34	-1.16	-1.02	-3.12	-0.49	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-1.02	-0.91	-0.81	-1.19	-0.71	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	-6.99%	-1.90%	-8.29%	-5.92%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-77.33%	0.00%	-65.92%	-6.32%	-19.26%	-37.33%	-111.64%

This table displays calculated financial ratios and metrics derived from Clarivate's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	639,216,510.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	639,216,510.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.81%	1.24%	-1.26%	-2.77%	-3.86%	-3.03%	-4.43%	-4.44%	0.14%	-6.94%	-1.38%
EBITDA Growth	106.76%	-216.31%	-15.96%	-154.19%	-27.92%	121.48%	-13.79%	486.64%	18.46%	81.01%	29.85%
EBIT Growth	102.31%	-343.86%	-80.93%	-181.03%	-78.26%	92.08%	-303.92%	102.88%	102.77%	166.45%	245.19%
NOPAT Growth	101.26%	-231.56%	-90.84%	-171.80%	-60.49%	92.10%	-516.00%	102.88%	102.77%	166.45%	245.19%
Net Income Growth	100.28%	-360.95%	-272.41%	-147.20%	-633.33%	77.27%	-38.53%	76.34%	56.86%	101.62%	61.31%
EPS Growth	99.85%	-380.43%	-450.00%	-119.05%	-800.00%	79.07%	-7.14%	76.09%	55.56%	0.00%	60.00%
Operating Cash Flow Growth	-21.37%	39.44%	-22.55%	-22.29%	24.17%	-25.98%	-2.84%	-7.84%	-10.74%	13.16%	-21.32%
Free Cash Flow Firm Growth	102.89%	-89.86%	-74.80%	-72.42%	1,932.57%	56.35%	-28.53%	-44.97%	-43.21%	-50.17%	-59.16%
Invested Capital Growth	-0.26%	-9.93%	-11.49%	-13.02%	-12.28%	-9.30%	-9.44%	-7.25%	-7.72%	-4.56%	-3.96%
Revenue Q/Q Growth	-3.23%	5.64%	-9.14%	4.68%	-4.32%	6.56%	-10.45%	4.67%	0.27%	-0.98%	-5.11%
EBITDA Q/Q Growth	189.97%	-314.19%	132.35%	-126.97%	485.69%	-36.17%	29.85%	20.96%	18.16%	-2.46%	-6.85%
EBIT Q/Q Growth	216.86%	-888.28%	101.30%	-2,452.94%	109.04%	-387.10%	66.61%	133.17%	537.68%	-5.91%	-27.05%
NOPAT Q/Q Growth	162.20%	-1,535.22%	100.63%	-4,900.00%	109.04%	-387.10%	66.61%	133.17%	537.68%	-5.91%	-27.05%
Net Income Q/Q Growth	109.99%	-6,960.98%	91.11%	-305.73%	78.44%	-192.38%	45.83%	30.70%	60.69%	110.95%	-1,396.77%
EPS Q/Q Growth	95.24%	-12,800.00%	89.15%	-228.57%	80.43%	-200.00%	44.44%	26.67%	63.64%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.62%	16.83%	-7.70%	-28.38%	60.78%	-30.36%	21.16%	-32.07%	55.72%	-11.71%	-15.76%
Free Cash Flow Firm Q/Q Growth	-98.57%	762.87%	125.38%	-0.98%	5.55%	-33.63%	3.03%	-23.75%	8.91%	-41.84%	-15.44%
Invested Capital Q/Q Growth	-1.91%	-7.20%	-1.64%	-2.85%	-1.07%	-4.05%	-1.80%	-0.50%	-1.58%	-0.75%	-1.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.91%	66.08%	64.94%	67.15%	66.23%	65.66%	65.13%	67.24%	64.98%	66.81%	67.19%
EBITDA Margin	43.33%	-87.85%	31.28%	-8.06%	32.48%	19.46%	28.21%	32.60%	38.42%	37.84%	37.15%
Operating Margin	13.47%	-115.28%	0.80%	-36.91%	3.49%	-9.40%	-3.50%	1.11%	7.06%	6.71%	5.16%
EBIT Margin	15.42%	-115.07%	1.64%	-36.91%	3.49%	-9.40%	-3.50%	1.11%	7.06%	6.71%	5.16%
Profit (Net Income) Margin	1.90%	-123.43%	-12.07%	-46.79%	-10.54%	-28.93%	-17.50%	-11.59%	-4.54%	0.50%	-6.87%
Tax Burden Percent	44.09%	97.91%	125.00%	97.81%	129.90%	145.08%	122.09%	120.60%	115.51%	-12.60%	139.58%
Interest Burden Percent	27.96%	109.56%	-588.24%	129.63%	-232.72%	212.20%	409.13%	-865.22%	-55.68%	-59.42%	-95.36%
Effective Tax Rate	55.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	1.40%	-19.48%	0.14%	-6.34%	0.60%	-1.71%	-0.64%	0.20%	1.32%	1.26%	0.98%
ROIC Less NNEP Spread (ROIC-NNEP)	0.85%	-25.99%	-1.65%	-9.49%	-1.26%	-5.17%	-2.76%	-1.62%	-0.10%	0.64%	-0.51%
Return on Net Nonoperating Assets (RNNOA)	0.63%	-18.22%	-1.13%	-6.55%	-0.90%	-3.98%	-2.13%	-1.29%	-0.08%	0.53%	-0.43%
Return on Equity (ROE)	2.03%	-37.70%	-0.99%	-12.89%	-0.29%	-5.68%	-2.77%	-1.08%	1.24%	1.79%	0.55%
Cash Return on Invested Capital (CROIC)	9.27%	5.73%	7.11%	7.75%	6.37%	7.80%	7.73%	7.12%	7.79%	5.21%	5.00%
Operating Return on Assets (OROA)	2.97%	-22.70%	0.33%	-7.45%	0.71%	-1.99%	-0.74%	0.24%	1.52%	1.46%	1.13%
Return on Assets (ROA)	0.37%	-24.35%	-2.39%	-9.45%	-2.14%	-6.11%	-3.69%	-2.47%	-0.98%	0.11%	-1.50%
Return on Common Equity (ROCE)	1.59%	-29.50%	-0.78%	-11.46%	-0.26%	-4.97%	-2.42%	-1.08%	1.24%	1.79%	0.55%
Return on Equity Simple (ROE_SIMPLE)	3.83%	0.00%	-17.49%	-21.61%	-23.38%	0.00%	-13.24%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	38	-552	3.50	-168	15	-44	-15	4.83	31	29	21
NOPAT Margin	5.94%	-80.70%	0.56%	-25.83%	2.44%	-6.58%	-2.45%	0.78%	4.94%	4.70%	3.61%
Net Nonoperating Expense Percent (NNEP)	0.55%	6.51%	1.79%	3.15%	1.86%	3.46%	2.12%	1.83%	1.42%	0.62%	1.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-5.15%	-	-	-	-0.45%	-0.15%	0.05%	0.33%	0.31%	0.23%
Cost of Revenue to Revenue	34.09%	33.92%	35.06%	32.85%	33.77%	34.34%	34.87%	32.76%	35.02%	33.19%	32.81%
SG&A Expenses to Revenue	26.56%	26.34%	30.89%	28.48%	27.27%	27.27%	30.05%	29.14%	27.28%	29.03%	30.11%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	52.44%	181.37%	64.13%	104.06%	62.75%	75.05%	68.64%	66.12%	57.92%	60.10%	62.03%
Earnings before Interest and Taxes (EBIT)	100	-787	10	-240	22	-62	-21	6.90	44	41	30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	280	-601	194	-52	202	129	168	203	239	234	218
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.86	1.34	1.10	0.68	0.93	0.70	0.54	0.59	0.53	0.46	0.34
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.73	2.34	1.88	1.46	1.99	1.41	1.07	1.17	1.03	0.90	0.66
Price to Earnings (P/E)	25.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.93	1.15	1.04	0.82	0.96	0.84	0.75	0.78	0.74	0.71	0.64
Enterprise Value to Revenue (EV/Rev)	3.97	4.52	4.05	3.10	3.64	3.06	2.72	2.84	2.67	2.57	2.31
Enterprise Value to EBITDA (EV/EBITDA)	9.24	1,544.28	0.00	0.00	0.00	16.56	15.43	10.11	9.04	7.48	6.34
Enterprise Value to EBIT (EV/EBIT)	26.61	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	88.15	46.22
Enterprise Value to NOPAT (EV/NOPAT)	10.36	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	125.93	66.03
Enterprise Value to Operating Cash Flow (EV/OCF)	15.05	15.98	15.30	12.28	13.48	12.11	10.73	11.23	10.94	10.03	9.56
Enterprise Value to Free Cash Flow (EV/FCFF)	10.07	19.06	13.79	9.82	14.12	10.21	9.21	10.47	9.13	13.21	12.57
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.73	0.79	0.79	0.83	0.84	0.88	0.90	0.90	0.90	0.91	0.89
Long-Term Debt to Equity	0.73	0.79	0.79	0.83	0.84	0.88	0.90	0.90	0.90	0.89	0.89
Financial Leverage	0.75	0.70	0.68	0.69	0.71	0.77	0.77	0.79	0.80	0.83	0.84
Leverage Ratio	2.13	2.08	2.06	2.06	2.09	2.17	2.20	2.22	2.23	2.26	2.28
Compound Leverage Factor	0.60	2.28	-12.11	2.66	-4.86	4.61	8.99	-19.18	-1.24	-1.34	-2.18
Debt to Total Capital	42.14%	44.07%	44.06%	45.27%	45.66%	46.79%	47.35%	47.49%	47.40%	47.73%	47.21%
Short-Term Debt to Total Capital	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.10%	0.02%
Long-Term Debt to Total Capital	42.13%	44.07%	44.06%	45.27%	45.66%	46.79%	47.35%	47.49%	47.40%	46.64%	47.20%
Preferred Equity to Total Capital	12.06%	13.00%	13.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.80%	42.93%	42.71%	54.73%	54.34%	53.21%	52.65%	52.51%	52.60%	52.27%	52.79%
Debt to EBITDA	4.33	613.13	-158.83	-26.00	-18.05	9.55	10.13	6.44	5.98	5.25	4.80
Net Debt to EBITDA	3.97	564.99	-146.44	-23.89	-16.54	8.93	9.34	5.92	5.55	4.86	4.53
Long-Term Debt to EBITDA	4.33	613.13	-158.83	-26.00	-18.05	9.55	10.13	6.44	5.98	5.13	4.79
Debt to NOPAT	4.85	-9.18	-8.45	-7.07	-6.61	-23.42	-21.43	-118.40	-196.05	88.37	49.95
Net Debt to NOPAT	4.45	-8.46	-7.79	-6.50	-6.05	-21.89	-19.75	-108.89	-181.91	81.79	47.12
Long-Term Debt to NOPAT	4.85	-9.18	-8.45	-7.07	-6.61	-23.42	-21.43	-118.40	-196.05	86.34	49.93
Altman Z-Score	0.01	-0.19	-0.12	-0.33	-0.15	-0.37	-0.46	-0.44	-0.48	-0.53	-0.60
Noncontrolling Interest Sharing Ratio	21.83%	21.75%	21.68%	11.10%	11.42%	12.51%	12.76%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.94	0.91	0.86	0.90	0.88	0.87	0.88	0.91	0.87	0.84	0.84
Quick Ratio	0.79	0.80	0.73	0.79	0.76	0.76	0.77	0.80	0.76	0.73	0.73
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	68	586	1,321	1,308	1,381	917	944	720	784	456	386
Operating Cash Flow to CapEx	264.83%	298.75%	273.60%	191.50%	264.88%	171.90%	281.12%	176.21%	276.07%	226.17%	241.40%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.19	0.20	0.20	0.20	0.20	0.21	0.21	0.21	0.22	0.22	0.22
Accounts Receivable Turnover	3.46	2.95	3.15	3.32	3.35	3.00	3.06	3.09	3.16	3.03	2.86
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	49.16	49.55	51.64	53.82	53.14	48.65	48.50	48.88	50.07	46.24	46.17
Accounts Payable Turnover	8.89	7.38	8.75	7.48	7.74	6.47	7.71	6.69	6.44	6.06	6.40
Days Sales Outstanding (DSO)	105.55	123.60	115.69	109.82	108.95	121.82	119.30	118.00	115.47	120.42	127.79
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	41.07	49.43	41.70	48.79	47.16	56.40	47.35	54.60	56.72	60.23	57.00
Cash Conversion Cycle (CCC)	64.48	74.17	73.99	61.03	61.79	65.42	71.96	63.41	58.75	60.19	70.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,123	10,323	10,153	9,864	9,758	9,363	9,194	9,148	9,004	8,937	8,830
Invested Capital Turnover	0.24	0.24	0.24	0.25	0.25	0.26	0.26	0.26	0.27	0.27	0.27
Increase / (Decrease) in Invested Capital	-30	-1,138	-1,318	-1,476	-1,366	-960	-959	-715	-753	-427	-365
Enterprise Value (EV)	10,390	11,891	10,602	8,061	9,385	7,832	6,885	7,091	6,675	6,303	5,662
Market Capitalization	4,538	6,148	4,933	3,802	5,141	3,609	2,718	2,937	2,575	2,209	1,621
Book Value per Share	$7.82	$6.93	$6.74	$8.39	$7.61	$7.23	$7.27	$7.31	$7.29	$7.32	$7.47
Tangible Book Value per Share	($9.66)	($9.69)	($9.60)	($7.34)	($6.84)	($6.85)	($7.06)	($7.11)	($7.16)	($7.15)	($7.24)
Total Capital	11,550	10,713	10,526	10,240	10,146	9,658	9,548	9,511	9,323	9,266	9,072
Total Debt	4,868	4,721	4,638	4,635	4,633	4,519	4,521	4,517	4,419	4,423	4,283
Total Long-Term Debt	4,866	4,721	4,638	4,635	4,633	4,519	4,521	4,517	4,419	4,322	4,282
Net Debt	4,460	4,350	4,276	4,259	4,244	4,224	4,167	4,154	4,100	4,094	4,041
Capital Expenditures (CapEx)	62	64	64	66	77	82	61	66	66	71	56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-500	-509	-586	-527	-575	-484	-540	-501	-517	-487	-482
Debt-free Net Working Capital (DFNWC)	-93	-138	-224	-150	-187	-189	-186	-139	-199	-157	-240
Net Working Capital (NWC)	-94	-138	-224	-150	-187	-189	-186	-139	-199	-259	-241
Net Nonoperating Expense (NNE)	26	292	79	136	81	148	89	77	59	26	61
Net Nonoperating Obligations (NNO)	4,441	4,330	4,265	4,259	4,244	4,224	4,167	4,154	4,100	4,094	4,041
Total Depreciation and Amortization (D&A)	181	186	184	188	180	191	188	196	195	192	187
Debt-free, Cash-free Net Working Capital to Revenue	-19.08%	-19.34%	-22.35%	-20.24%	-22.31%	-18.93%	-21.36%	-20.05%	-20.68%	-19.82%	-19.69%
Debt-free Net Working Capital to Revenue	-3.54%	-5.24%	-8.55%	-5.78%	-7.24%	-7.39%	-7.37%	-5.54%	-7.94%	-6.41%	-9.79%
Net Working Capital to Revenue	-3.58%	-5.24%	-8.55%	-5.78%	-7.24%	-7.39%	-7.37%	-5.54%	-7.94%	-10.54%	-9.85%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.01)	($1.29)	($0.14)	($0.46)	($0.09)	($0.27)	($0.15)	($0.11)	($0.04)	$0.00	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	670.90M	671.60M	666.90M	685.60M	718.70M	693.60M	689.80M	681.30M	668.30M	673.30M	640.70M
Adjusted Diluted Earnings per Share	($0.01)	($1.29)	($0.14)	($0.46)	($0.09)	($0.27)	($0.15)	($0.11)	($0.04)	$0.00	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	670.90M	671.60M	666.90M	685.60M	718.70M	693.60M	689.80M	681.30M	668.30M	673.30M	640.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	663.92M	666.29M	668.24M	724.14M	710.40M	691.64M	683.09M	672.22M	661.44M	640.70M	639.22M
Normalized Net Operating Profit after Tax (NOPAT)	64	50	10	44	28	117	2.73	11	39	58	30
Normalized NOPAT Margin	9.83%	7.29%	1.63%	6.84%	4.44%	17.65%	0.46%	1.82%	6.28%	9.35%	5.05%
Pre Tax Income Margin	4.31%	-126.06%	-9.66%	-47.84%	-8.12%	-19.94%	-14.33%	-9.61%	-3.93%	-3.99%	-4.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.48%	-8.29%	-7.33%	-6.24%	-4.38%	-5.92%	-2.82%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	68.53%	-19.26%	-7.33%	-6.24%	-12.14%	-37.33%	-40.38%	-69.12%	-63.01%	-111.64%	-140.17%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor‑oriented look at Clarivate (NYSE: CLVT) over the last four years (2022–2025), using the quarterly cash flow, income statement, and balance sheet data you provided. The company shows solid gross margins and positive cash flow from operations, but earnings have been volatile and leverage remains a consideration.

Consistent positive cash flow from continuing operating activities in 2025 quarters: Q1 2025 shows 159.9 million, Q2 2025 116.3 million, Q3 2025 181.1 million, and Q4 2025 159.9 million. This indicates a stable core cash generator despite revenue fluctuations.
Q4 2025 net income attributable to common shareholders turned positive at 3.1 million, after several negative quarterly earnings earlier in 2025. This marks a rare quarterly earnings uptick in a year of volatility.
Overall gross margin remains in the mid‑60% range. For Q4 2025, Total Gross Profit was 412.2 million on 617.0 million in revenue (about 66.8% gross margin), consistent with a durable gross profitability level across recent periods.
Near‑term free cash flow potential in Q4 2025 looks favorable: cash from continuing operating activities was 159.9 million, while capital expenditures (Purchase of Property, Plant & Equipment) were 70.7 million, implying positive free cash flow for that quarter.
Balance sheet base remains sizeable and relatively stable: Total assets are in the 11.0–11.5 billion range across 2025, with total equity around 4.9–5.6 billion and long‑term debt roughly 4.4–4.5 billion. This provides a cushion for ongoing operations and potential financing needs.
Revenue trend over the four years shows a tapering from the 2022–2023 peak into 2024–2025: Q4 2025 revenue (617.0 million) is below Q4 2024 (663.0 million), suggesting a softer top line despite stable gross margins.
Impairments and restructuring charges have been lumpy: a notable impairment in 2024 (around 229.5 million) contrasted with much smaller impairment activity in 2025 (about 41 million in Q4). These items have a meaningful impact on net income but do not directly affect cash in the period when non‑cash impairment is recorded.
Earnings volatility remains pronounced: several quarters in 2025 posted net losses (Q1 −93.8 million, Q2 −72.0 million, Q3 −28.3 million) before the Q4 2025 positive result. This consistency of quarterly losses highlights earnings quality challenges despite positive CFO.
Debt load and leverage: long‑term debt sits around 4.4–4.5 billion with total liabilities near 6.3–6.4 billion in mid‑2025, while cash balances are modest (cash & equivalents around 0.3–0.36 billion in the period). This indicates a sizable debt burden relative to cash, which is a key consideration for leverage and financing flexibility.
Earnings per share have been negative in most periods: 2021–2024 guidance shows negative basic and diluted EPS across several quarters, with only a narrow positive blip in Q4 2025. This continued earnings trajectory may pressure valuation vs. revenue and cash flow growth alone.

05/07/26 07:44 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Clarivate's Financials

When does Clarivate's financial year end?

According to the most recent income statement we have on file, Clarivate's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

How has Clarivate's net income changed over the last 8 years?

Clarivate's net income appears to be on an upward trend, with a most recent value of -$201.10 million in 2025, falling from -$263.93 million in 2017. The previous period was -$636.70 million in 2024. See where experts think Clarivate is headed by visiting Clarivate's forecast page.

What is Clarivate's operating income?

Clarivate's total operating income in 2025 was $71.50 million, based on the following breakdown:

Total Gross Profit: $1.62 billion
Total Operating Expenses: $1.55 billion

How has Clarivate's revenue changed over the last 8 years?

Over the last 8 years, Clarivate's total revenue changed from $917.63 million in 2017 to $2.46 billion in 2025, a change of 167.6%.

How much debt does Clarivate have?

Clarivate's total liabilities were at $6.23 billion at the end of 2025, a 2.0% decrease from 2024, and a 134.2% increase since 2018.

How much cash does Clarivate have?

In the past 7 years, Clarivate's cash and equivalents has ranged from $25.58 million in 2018 to $430.90 million in 2021, and is currently $329.20 million as of their latest financial filing in 2025.

How has Clarivate's book value per share changed over the last 8 years?

Over the last 8 years, Clarivate's book value per share changed from 0.00 in 2017 to 7.32 in 2025, a change of 732.2%.

Related Companies

Financial statements for NYSE:CLVT last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Clarivate (CLVT) Financials

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Clarivate (CLVT) Financials

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