Clearwater Analytics (CWAN) Financials

$22.20 +0.20 (+0.91%)

Closing price 03:59 PM Eastern

Extended Trading

$22.22 +0.02 (+0.07%)

As of 05:17 PM Eastern

Annual Income Statements for Clearwater Analytics

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

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Income / (Loss) Attributable to Common Shareholders	424	-22	-7.97	-8.21	-44	7.73
Consolidated Net Income / (Loss)	428	-23	-6.70	-8.09	-44	7.73
Net Income / (Loss) Continuing Operations	428	-23	-6.70	-8.09	-44	7.73
Total Pre-Tax Income	-30	-23	-5.34	-7.61	-43	7.81
Total Operating Income	12	-17	5.12	28	-20	26
Total Gross Profit	329	261	216	184	150	121
Total Revenue	452	368	303	252	203	168
Operating Revenue	452	368	303	252	203	168
Total Cost of Revenue	123	107	88	68	53	47
Operating Cost of Revenue	123	107	88	68	53	47
Total Operating Expenses	317	278	211	156	170	95
Selling, General & Admin Expense	99	93	64	44	44	37
Marketing Expense	67	60	53	39	22	19
Research & Development Expense	151	124	94	73	55	39
Total Other Income / (Expense), net	-42	-6.12	-10	-36	-23	-18
Interest & Investment Income	8.62	6.40	1.14	-	-	-
Other Income / (Expense), net	-51	-13	-12	-0.08	-0.06	-0.09
Income Tax Expense	-458	0.22	1.36	0.49	0.90	0.07
Net Income / (Loss) Attributable to Noncontrolling Interest	3.21	-1.46	1.27	0.12	0.00	0.00
Basic Earnings per Share	$1.93	($0.11)	($0.04)	($0.05)	$0.00	$0.00
Weighted Average Basic Shares Outstanding	219.32M	199.69M	185.56M	177.68M	0.00	0.00
Diluted Earnings per Share	$1.68	($0.11)	($0.04)	($0.05)	$0.00	$0.00
Weighted Average Diluted Shares Outstanding	254.36M	199.69M	185.56M	177.68M	0.00	0.00
Weighted Average Basic & Diluted Shares Outstanding	251.02M	244.70M	241.11M	236.95M	-	-

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	6.51	419	3.63	-0.43	1.90	-4.43	-1.89	-11	-4.38	-2.96	-2.97
Consolidated Net Income / (Loss)	6.94	420	4.77	0.28	2.24	-3.45	-2.34	-12	-5.42	-1.97	-3.03
Net Income / (Loss) Continuing Operations	6.94	420	4.77	0.28	2.24	-3.45	-2.34	-12	-5.42	-1.97	-3.03
Total Pre-Tax Income	8.49	-37	4.28	0.36	2.14	-3.05	-2.62	-12	-5.15	-1.57	-2.60
Total Operating Income	7.08	1.22	7.34	3.84	-0.17	2.59	-5.89	-7.13	-6.32	3.88	-1.16
Total Gross Profit	93	93	84	77	75	71	68	63	60	60	54
Total Revenue	127	126	116	107	103	99	95	90	85	83	77
Operating Revenue	127	126	116	107	103	99	95	90	85	83	77
Total Cost of Revenue	34	34	31	30	28	28	27	27	25	23	23
Operating Cost of Revenue	34	34	31	30	28	28	27	27	25	23	23
Total Operating Expenses	86	92	77	73	75	68	74	70	66	56	55
Selling, General & Admin Expense	29	33	23	23	21	18	26	26	23	17	16
Marketing Expense	20	18	18	15	16	16	15	14	15	14	13
Research & Development Expense	37	41	37	35	38	34	32	30	28	25	25
Total Other Income / (Expense), net	1.40	-38	-3.06	-3.49	2.30	-5.64	3.27	-4.93	1.17	-5.44	-1.44
Interest & Investment Income	1.69	-	2.29	-	-	-	1.73	-	-	-	-
Other Income / (Expense), net	-0.29	-40	-5.35	-5.33	0.24	-7.62	1.54	-6.26	-0.19	-6.72	-2.13
Income Tax Expense	1.55	-457	-0.49	0.08	-0.10	0.40	-0.27	-0.17	0.26	0.40	0.42
Net Income / (Loss) Attributable to Noncontrolling Interest	0.43	1.02	1.14	0.71	0.34	0.99	-0.45	-0.96	-1.03	1.00	-0.05
Basic Earnings per Share	$0.03	$1.90	$0.02	$0.00	$0.01	($0.02)	($0.01)	($0.06)	($0.02)	($0.01)	($0.02)
Weighted Average Basic Shares Outstanding	237.32M	219.32M	219.01M	218.35M	213.26M	199.69M	201.58M	198.05M	192.99M	185.56M	187.82M
Diluted Earnings per Share	$0.03	$1.65	$0.02	$0.00	$0.01	($0.02)	($0.01)	($0.06)	($0.02)	($0.01)	($0.02)
Weighted Average Diluted Shares Outstanding	246.21M	254.36M	231.47M	218.35M	255.46M	199.69M	201.58M	198.05M	192.99M	185.56M	187.82M
Weighted Average Basic & Diluted Shares Outstanding	283.28M	251.02M	247.02M	246.32M	245.72M	244.70M	243.86M	241.92M	241.35M	241.11M	238.34M

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

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Net Change in Cash & Equivalents	-44	-29	-3.87	194	41	4.40
Net Cash From Operating Activities	74	85	58	3.36	-6.49	-230
Net Cash From Continuing Operating Activities	74	85	58	3.36	-6.49	20
Net Income / (Loss) Continuing Operations	428	-23	-6.70	-8.09	-44	7.73
Consolidated Net Income / (Loss)	428	-23	-6.70	-8.09	-44	-
Depreciation Expense	12	9.93	5.14	3.49	2.27	2.02
Amortization Expense	3.36	3.57	4.61	4.93	4.85	3.07
Non-Cash Adjustments To Reconcile Net Income	112	112	72	47	25	6.23
Changes in Operating Assets and Liabilities, net	-481	-18	-17	-44	6.03	0.92
Net Cash From Investing Activities	-56	-95	-77	-5.03	-3.81	-3.37
Net Cash From Continuing Investing Activities	-56	-95	-77	-5.03	-3.81	-3.37
Purchase of Property, Plant & Equipment	-5.26	-5.62	-7.76	-5.03	-3.81	-3.37
Acquisitions	-40	0.00	-66	0.00	0.00	-
Purchase of Investments	-118	-127	-3.00	0.00	0.00	-
Sale and/or Maturity of Investments	107	38	0.00	0.00	-	-
Other Investing Activities, net	-0.10	0.00	0.00	-	-	-
Net Cash From Financing Activities	-62	-19	16	195	51	238
Net Cash From Continuing Financing Activities	-62	-19	16	195	71	238
Repayment of Debt	-2.75	-2.75	-2.75	-438	-27	-3.10
Repurchase of Common Equity	0.00	0.00	-0.21	-5.76	-0.57	-3.78
Payment of Dividends	-3.87	-2.18	-0.12	0.00	-163	0.00
Issuance of Common Equity	4.69	4.59	4.22	584	0.00	137
Other Financing Activities, net	-60	-19	15	0.65	59	2.59
Effect of Exchange Rate Changes	-1.42	0.79	-1.56	-0.11	0.09	-
Cash Interest Paid	3.46	3.45	1.40	26	22	12
Cash Income Taxes Paid	1.98	2.43	2.04	0.80	0.43	0.07

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	98	-51	39	0.45	-32	16	15	-31	-30	-38	9.88
Net Cash From Operating Activities	25	-29	50	44	10	24	31	21	7.94	18	15
Net Cash From Continuing Operating Activities	25	-29	50	44	10	24	31	21	7.94	18	15
Net Income / (Loss) Continuing Operations	6.94	420	4.77	0.28	2.24	-3.45	-2.34	-12	-5.42	-1.97	-3.03
Consolidated Net Income / (Loss)	6.94	420	4.77	0.28	2.24	-3.45	-2.34	-12	-5.42	-1.97	-3.03
Depreciation Expense	3.15	3.45	3.24	2.94	2.55	2.59	2.48	2.41	2.45	1.64	1.38
Amortization Expense	1.14	1.31	0.67	0.66	0.71	0.70	0.78	0.82	1.27	1.18	1.23
Non-Cash Adjustments To Reconcile Net Income	26	30	28	27	26	24	32	30	25	18	19
Changes in Operating Assets and Liabilities, net	-13	-485	13	13	-22	-0.02	-1.73	-0.71	-15	-0.34	-3.49
Net Cash From Investing Activities	100	-0.88	-1.04	-42	-12	0.56	-9.83	-53	-33	-68	-1.91
Net Cash From Continuing Investing Activities	100	-0.88	-1.04	-42	-12	0.56	-9.83	-53	-33	-68	-1.91
Purchase of Property, Plant & Equipment	-1.47	-0.82	-1.49	-1.51	-1.44	-1.56	-0.77	-1.58	-1.72	-1.88	-1.91
Purchase of Investments	-4.69	-21	-27	-39	-32	-16	-19	-58	-34	-	-
Sale and/or Maturity of Investments	106	21	27	38	22	18	10	5.96	3.23	-	-
Net Cash From Financing Activities	-27	-19	-11	-1.51	-30	-9.37	-5.88	1.22	-5.27	11	-1.73
Net Cash From Continuing Financing Activities	-27	-19	-11	-1.51	-30	-9.37	-5.88	1.22	-5.27	11	-1.73
Repayment of Debt	-2.85	-0.69	-1.37	-0.00	-0.69	-0.69	-0.69	-0.69	-0.69	-0.69	-0.69
Payment of Dividends	0.00	-3.85	-0.02	-	-0.01	-2.15	-0.04	-	0.00	-0.10	-
Other Financing Activities, net	-24	-17	-9.48	-4.30	-29	-8.52	-5.15	-0.69	-4.58	9.73	-1.02
Effect of Exchange Rate Changes	1.03	-2.13	0.96	-0.04	-0.21	0.81	-0.28	0.15	0.10	0.95	-1.16
Cash Interest Paid	1.28	0.84	0.87	0.85	0.91	0.92	0.31	0.87	1.35	0.63	0.15
Cash Income Taxes Paid	0.58	0.80	0.59	0.15	0.45	0.95	0.42	0.76	0.31	0.62	0.94

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

Metric	2024	2023	2022	2021	2020
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Total Assets	1,170	559	482	344	116
Total Current Assets	385	416	356	321	102
Cash & Equivalents	177	222	251	255	61
Short-Term Investments	78	74	4.89	0.00	-
Accounts Receivable	106	92	73	50	33
Prepaid Expenses	23	28	28	17	7.55
Plant, Property, & Equipment, net	15	15	15	11	8.85
Total Noncurrent Assets	770	127	111	12	5.19
Long-Term Investments	30	21	0.00	-	-
Goodwill	71	45	44	0.00	-
Intangible Assets	31	26	29	0.00	-
Noncurrent Deferred & Refundable Income Taxes	603	1.34	-	-	-
Other Noncurrent Operating Assets	35	33	37	11	4.77
Other Noncurrent Nonoperating Assets	0.34	0.53	0.73	0.92	0.42
Total Liabilities & Shareholders' Equity	1,170	559	482	344	116
Total Liabilities	139	149	144	82	460
Total Current Liabilities	77	81	66	31	38
Short-Term Debt	2.75	2.75	2.75	2.75	3.08
Accounts Payable	2.93	3.06	3.09	1.42	1.34
Accrued Expenses	63	50	42	27	34
Current Deferred & Payable Income Tax Liabilities	0.04	19	12	0.00	-
Other Current Liabilities	8.35	6.55	5.85	0.00	-
Total Noncurrent Liabilities	62	68	78	51	422
Long-Term Debt	43	46	48	51	422
Other Noncurrent Operating Liabilities	19	22	29	0.13	0.13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,030	410	338	262	-345
Total Preferred & Common Equity	1,008	354	270	197	-345
Total Common Equity	1,008	354	270	197	-345
Common Stock	725	533	456	389	-99
Retained Earnings	284	-181	-187	-192	-246
Accumulated Other Comprehensive Income / (Loss)	-1.11	2.91	0.61	-0.03	0.06
Noncontrolling Interest	22	55	69	65	0.00

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

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,285	623	585	548	536	512	491	420
Total Current Assets	422	431	383	396	401	365	349	373
Cash & Equivalents	275	229	190	190	206	190	221	289
Short-Term Investments	7.70	77	68	78	80	63	19	3.00
Accounts Receivable	111	100	97	97	92	83	79	65
Prepaid Expenses	28	25	28	31	24	29	30	16
Plant, Property, & Equipment, net	15	15	15	15	15	15	15	14
Total Noncurrent Assets	849	177	187	137	119	131	127	33
Long-Term Investments	0.00	31	40	29	18	24	17	-
Goodwill	73	74	72	44	43	44	44	-
Intangible Assets	143	34	35	25	26	28	29	-
Noncurrent Deferred & Refundable Income Taxes	601	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	32	38	41	39	33	35	38	32
Other Noncurrent Nonoperating Assets	0.29	-	-	-	-	-	-	0.78
Total Liabilities & Shareholders' Equity	1,285	623	585	548	536	512	491	420
Total Liabilities	143	170	156	142	144	141	138	109
Total Current Liabilities	83	92	80	71	63	58	59	36
Short-Term Debt	2.75	2.75	2.75	2.75	2.75	2.75	2.75	2.75
Accounts Payable	2.04	4.24	2.96	2.72	2.85	2.84	2.66	1.71
Accrued Expenses	61	61	50	41	41	34	35	26
Current Deferred Revenue	9.06	-	-	-	-	-	-	-
Current Deferred & Payable Income Tax Liabilities	0.00	17	17	17	10	12	12	-
Other Current Liabilities	8.58	7.81	7.70	7.65	6.40	6.45	6.45	5.34
Total Noncurrent Liabilities	60	77	76	71	81	83	79	74
Long-Term Debt	42	44	45	45	46	47	48	49
Other Noncurrent Operating Liabilities	17	22	25	25	26	29	31	19
Total Equity & Noncontrolling Interests	1,143	454	429	406	391	371	353	310
Total Preferred & Common Equity	1,116	403	381	361	326	308	289	246
Total Common Equity	1,116	403	381	361	326	308	289	246
Common Stock	828	565	550	529	517	496	471	433
Retained Earnings	286	-166	-170	-170	-191	-189	-183	-185
Accumulated Other Comprehensive Income / (Loss)	1.98	4.63	0.83	1.31	-0.50	1.47	1.74	-1.88
Noncontrolling Interest	27	50	48	46	66	63	64	64

This table displays calculated financial ratios and metrics derived from Clearwater Analytics' official financial filings.

Metric	2024	2023	2022	2021	2020	2019
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Growth Metrics	-	-	-	-	-	-
Revenue Growth	22.72%	21.34%	20.40%	24.01%	20.96%	0.00%
EBITDA Growth	-46.76%	-581.79%	-91.11%	375.52%	-143.51%	0.00%
EBIT Growth	-32.18%	-352.21%	-122.81%	238.61%	-179.94%	0.00%
NOPAT Growth	173.06%	-427.24%	-82.02%	239.39%	-156.14%	0.00%
Net Income Growth	1,952.38%	-244.78%	17.28%	81.70%	-672.04%	0.00%
EPS Growth	1,627.27%	-175.00%	20.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-12.15%	45.85%	1,627.37%	151.77%	97.18%	0.00%
Free Cash Flow Firm Growth	-3,382.36%	73.48%	-222.34%	34.87%	0.00%	0.00%
Invested Capital Growth	464.36%	5.03%	121.20%	220.72%	0.00%	0.00%
Revenue Q/Q Growth	6.47%	4.64%	4.45%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	-340.32%	-12.15%	-46.75%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	-771.26%	-8.06%	-107.17%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	-38.77%	-8.31%	169.88%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	11,052.45%	-6.85%	-45.73%	0.00%	0.00%	0.00%
EPS Q/Q Growth	16,700.00%	-10.00%	-33.33%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-41.76%	7.55%	10.98%	108.08%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-5,405.86%	76.62%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	383.24%	1.55%	90.76%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	72.78%	70.90%	71.07%	73.07%	73.79%	71.94%
EBITDA Margin	-5.12%	-4.28%	1.08%	14.60%	-6.57%	18.27%
Operating Margin	2.71%	-4.55%	1.69%	11.29%	-10.05%	15.30%
EBIT Margin	-8.56%	-7.95%	-2.13%	11.26%	-10.07%	15.25%
Profit (Net Income) Margin	94.64%	-6.27%	-2.21%	-3.21%	-21.76%	4.60%
Tax Burden Percent	-1,422.30%	100.95%	125.49%	106.40%	102.08%	99.06%
Interest Burden Percent	77.71%	78.13%	82.43%	-26.81%	211.62%	30.47%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.94%
Return on Invested Capital (ROIC)	1.84%	-8.58%	3.70%	50.41%	-152.15%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-162.52%	-3.79%	8.76%	15.77%	-168.62%	0.00%
Return on Net Nonoperating Assets (RNNOA)	57.55%	2.41%	-5.93%	-30.84%	177.82%	0.00%
Return on Equity (ROE)	59.39%	-6.17%	-2.23%	19.56%	25.67%	0.00%
Cash Return on Invested Capital (CROIC)	-137.95%	-13.48%	-71.77%	-54.51%	-352.15%	0.00%
Operating Return on Assets (OROA)	-4.48%	-5.62%	-1.57%	12.34%	-17.72%	0.00%
Return on Assets (ROA)	49.48%	-4.44%	-1.62%	-3.52%	-38.27%	0.00%
Return on Common Equity (ROCE)	56.20%	-5.15%	-1.73%	34.94%	25.67%	0.00%
Return on Equity Simple (ROE_SIMPLE)	42.41%	-6.51%	-2.48%	-4.11%	12.83%	0.00%
Net Operating Profit after Tax (NOPAT)	8.56	-12	3.58	20	-14	25
NOPAT Margin	1.90%	-3.18%	1.18%	7.91%	-7.03%	15.15%
Net Nonoperating Expense Percent (NNEP)	164.36%	-4.79%	-5.05%	34.63%	16.48%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	0.80%	-2.56%	0.92%	-	-	-
Cost of Revenue to Revenue	27.22%	29.10%	28.93%	26.93%	26.21%	28.06%
SG&A Expenses to Revenue	21.86%	25.39%	21.02%	17.44%	21.59%	21.91%
R&D to Revenue	33.32%	33.66%	31.02%	28.84%	27.19%	23.38%
Operating Expenses to Revenue	70.07%	75.45%	69.38%	61.78%	83.84%	56.64%
Earnings before Interest and Taxes (EBIT)	-39	-29	-6.47	28	-20	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-23	-16	3.27	37	-13	31
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	6.74	13.79	16.58	27.55	0.00	0.00
Price to Tangible Book Value (P/TBV)	7.50	17.27	22.77	27.55	0.00	0.00
Price to Revenue (P/Rev)	15.05	13.27	14.73	21.52	2.66	3.21
Price to Earnings (P/E)	16.02	0.00	0.00	0.00	0.00	69.84
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	6.24%	0.00%	0.00%	0.00%	0.00%	1.43%
Enterprise Value to Invested Capital (EV/IC)	8.33	33.37	32.51	87.74	48.11	0.00
Enterprise Value to Revenue (EV/Rev)	14.56	12.69	14.28	20.98	4.45	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	1,323.99	143.67	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	186.31	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	768.38	0.00	1,209.81	265.38	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	88.54	55.21	74.71	1,574.48	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.04	0.12	0.15	0.21	-1.23	0.00
Long-Term Debt to Equity	0.04	0.11	0.14	0.20	-1.22	0.00
Financial Leverage	-0.35	-0.63	-0.68	-1.96	-1.05	0.00
Leverage Ratio	1.20	1.39	1.38	-5.56	-0.34	0.00
Compound Leverage Factor	0.93	1.09	1.13	1.49	-0.71	0.00
Debt to Total Capital	4.27%	10.60%	13.15%	17.07%	529.17%	0.00%
Short-Term Debt to Total Capital	0.26%	0.60%	0.71%	0.87%	3.83%	0.00%
Long-Term Debt to Total Capital	4.01%	10.00%	12.45%	16.20%	525.34%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	2.04%	12.07%	17.67%	20.58%	0.00%	0.00%
Common Equity to Total Capital	93.69%	77.32%	69.17%	62.34%	-429.17%	0.00%
Debt to EBITDA	-1.98	-3.08	15.66	1.46	-31.81	0.00
Net Debt to EBITDA	10.36	17.07	-62.44	-5.45	-27.24	0.00
Long-Term Debt to EBITDA	-1.87	-2.91	14.82	1.39	-31.58	0.00
Debt to NOPAT	5.36	-4.14	14.31	2.71	-29.73	0.00
Net Debt to NOPAT	-28.01	22.96	-57.06	-10.07	-25.45	0.00
Long-Term Debt to NOPAT	5.04	-3.91	13.54	2.57	-29.51	0.00
Altman Z-Score	30.21	20.41	19.44	40.68	-0.44	0.00
Noncontrolling Interest Sharing Ratio	5.37%	16.60%	22.30%	-78.56%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	4.99	5.15	5.40	10.30	2.66	0.00
Quick Ratio	4.69	4.81	4.97	9.77	2.46	0.00
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-641	-18	-69	-22	-33	0.00
Operating Cash Flow to CapEx	1,413.22%	1,504.30%	747.68%	66.83%	-170.42%	-6,821.74%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-0.60	-1.45	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.09	-0.28	-12.92
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	-0.05	-0.45	-13.11
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.52	0.71	0.73	1.10	1.76	0.00
Accounts Receivable Turnover	4.56	4.47	4.94	6.07	6.18	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	29.97	24.21	23.52	25.73	22.97	0.00
Accounts Payable Turnover	41.02	34.82	38.95	49.25	39.75	0.00
Days Sales Outstanding (DSO)	80.08	81.62	73.84	60.16	59.06	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	8.90	10.48	9.37	7.41	9.18	0.00
Cash Conversion Cycle (CCC)	71.18	71.14	64.47	52.74	49.88	0.00
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	790	140	133	60	19	0.00
Invested Capital Turnover	0.97	2.69	3.14	6.38	21.63	0.00
Increase / (Decrease) in Invested Capital	650	6.70	73	41	19	0.00
Enterprise Value (EV)	6,580	4,671	4,333	5,287	904	0.00
Market Capitalization	6,798	4,884	4,469	5,423	540	540
Book Value per Share	$4.08	$1.45	$1.13	$0.83	($11.49)	$0.00
Tangible Book Value per Share	$3.67	$1.16	$0.82	$0.83	($11.49)	$0.00
Total Capital	1,076	458	390	316	80	0.00
Total Debt	46	49	51	54	425	0.00
Total Long-Term Debt	43	46	48	51	422	0.00
Net Debt	-240	-269	-204	-201	364	0.00
Capital Expenditures (CapEx)	5.26	5.62	7.76	5.03	3.81	3.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	55	42	37	38	5.30	0.00
Debt-free Net Working Capital (DFNWC)	310	338	293	293	66	0.00
Net Working Capital (NWC)	308	335	290	290	63	0.00
Net Nonoperating Expense (NNE)	-419	11	10	28	30	18
Net Nonoperating Obligations (NNO)	-240	-270	-205	-202	363	0.00
Total Depreciation and Amortization (D&A)	16	13	9.75	8.42	7.12	5.09
Debt-free, Cash-free Net Working Capital to Revenue	12.14%	11.34%	12.35%	15.19%	2.61%	0.00%
Debt-free Net Working Capital to Revenue	68.69%	91.79%	96.59%	116.22%	32.67%	0.00%
Net Working Capital to Revenue	68.08%	91.05%	95.69%	115.12%	31.16%	0.00%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.93	($0.11)	($0.04)	($0.05)	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	219.32M	199.69M	185.56M	177.68M	0.00	0.00
Adjusted Diluted Earnings per Share	$1.68	($0.11)	($0.04)	($0.05)	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	254.36M	199.69M	185.56M	236.21M	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.05)	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	251.02M	244.70M	241.11M	236.95M	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	8.56	-12	3.58	20	-14	25
Normalized NOPAT Margin	1.90%	-3.18%	1.18%	7.91%	-7.03%	15.15%
Pre Tax Income Margin	-6.65%	-6.21%	-1.76%	-3.02%	-21.32%	4.65%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.79	-0.90	1.44
NOPAT to Interest Expense	0.00	0.00	0.00	0.55	-0.63	1.43
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.65	-1.06	1.25
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.41	-0.79	1.24
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.91%	-9.46%	-1.75%	0.00%	-369.11%	0.00%
Augmented Payout Ratio	0.91%	-9.46%	-4.94%	-71.13%	-370.39%	48.89%

This table displays calculated financial ratios and metrics derived from Clearwater Analytics' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.51%	27.72%	22.36%	18.82%	21.41%	19.75%	23.66%	22.44%	19.54%	18.53%	18.71%
EBITDA Growth	231.53%	-1,888.93%	638.87%	120.88%	219.76%	-6,325.93%	-59.30%	-1,367.04%	-187.51%	-100.95%	-107.18%
EBIT Growth	8,607.69%	-681.47%	145.82%	88.90%	101.20%	-76.81%	-32.02%	-775.28%	-645.14%	-661.66%	-144.57%
NOPAT Growth	3,434.19%	-52.97%	298.27%	159.92%	96.08%	-33.16%	-405.76%	-732.21%	-601.39%	492.51%	-111.48%
Net Income Growth	210.20%	12,293.33%	303.54%	102.32%	141.28%	-75.24%	22.57%	-432.56%	-1,125.95%	-1,567.91%	73.52%
EPS Growth	200.00%	8,350.00%	300.00%	100.00%	150.00%	-100.00%	50.00%	-500.00%	0.00%	0.00%	60.00%
Operating Cash Flow Growth	144.10%	-221.17%	57.66%	107.82%	26.49%	32.71%	114.12%	15.81%	14.73%	46.24%	101.29%
Free Cash Flow Firm Growth	-6,883.41%	-13,186.50%	75.77%	57.71%	86.60%	93.05%	-264.27%	-14.48%	-10.64%	0.00%	54.81%
Invested Capital Growth	473.84%	464.36%	18.60%	25.33%	7.09%	5.03%	97.28%	105.98%	103.18%	121.20%	37.29%
Revenue Q/Q Growth	0.32%	9.18%	8.46%	3.96%	3.74%	4.60%	5.32%	6.23%	2.32%	8.01%	4.28%
EBITDA Q/Q Growth	132.09%	-684.29%	178.72%	-36.56%	292.51%	-58.30%	89.20%	-263.89%	-10,229.63%	96.08%	-185.89%
EBIT Q/Q Growth	117.30%	-2,070.35%	234.12%	-2,005.13%	101.55%	-15.52%	67.50%	-105.61%	-129.03%	13.75%	-115.50%
NOPAT Q/Q Growth	578.92%	-89.57%	173.40%	1,821.44%	-109.58%	144.00%	17.38%	-12.68%	-263.17%	432.90%	-203.28%
Net Income Q/Q Growth	-98.35%	8,713.25%	1,627.90%	-87.66%	164.87%	-47.12%	80.27%	-119.24%	-175.39%	35.00%	-35.70%
EPS Q/Q Growth	-98.18%	8,150.00%	0.00%	-100.00%	150.00%	-100.00%	83.33%	-200.00%	-100.00%	50.00%	-100.00%
Operating Cash Flow Q/Q Growth	183.91%	-158.92%	12.82%	337.64%	-58.35%	-23.34%	48.71%	166.38%	-56.30%	23.69%	-19.57%
Free Cash Flow Firm Q/Q Growth	-14.18%	-3,616.95%	47.36%	-212.59%	-95.88%	93.22%	8.12%	0.91%	-12.61%	-255.29%	71.12%
Invested Capital Q/Q Growth	14.52%	383.24%	-8.66%	13.52%	12.20%	1.55%	-3.47%	-3.00%	10.45%	90.76%	0.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.26%	73.46%	72.93%	72.01%	72.57%	71.38%	71.46%	70.01%	70.66%	72.22%	70.32%
EBITDA Margin	8.73%	-27.29%	5.10%	1.98%	3.25%	-1.75%	-1.16%	-11.29%	-3.30%	-0.03%	-0.90%
Operating Margin	5.58%	0.96%	6.34%	3.60%	-0.16%	2.62%	-6.22%	-7.93%	-7.47%	4.69%	-1.52%
EBIT Margin	5.35%	-31.05%	1.72%	-1.39%	0.08%	-5.07%	-4.60%	-14.89%	-7.69%	-3.44%	-4.30%
Profit (Net Income) Margin	5.47%	332.35%	4.12%	0.26%	2.18%	-3.48%	-2.48%	-13.21%	-6.40%	-2.38%	-3.95%
Tax Burden Percent	81.73%	-1,140.92%	111.35%	77.75%	104.58%	113.16%	89.53%	98.56%	105.12%	125.61%	116.30%
Interest Burden Percent	124.94%	93.81%	214.90%	-23.89%	2,741.03%	60.62%	60.16%	90.04%	79.17%	55.10%	78.97%
Effective Tax Rate	18.27%	0.00%	-11.35%	22.25%	-4.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.09%	0.66%	19.87%	7.01%	-0.43%	4.93%	-14.75%	-17.46%	-15.11%	10.29%	-5.12%
ROIC Less NNEP Spread (ROIC-NNEP)	3.62%	-163.87%	21.12%	8.15%	-1.49%	7.15%	-15.47%	-14.45%	-14.64%	12.59%	-4.10%
Return on Net Nonoperating Assets (RNNOA)	-1.14%	58.03%	-13.59%	-4.87%	0.89%	-4.54%	10.89%	9.88%	9.59%	-8.53%	3.20%
Return on Equity (ROE)	2.95%	58.68%	6.28%	2.14%	0.46%	0.40%	-3.86%	-7.58%	-5.52%	1.76%	-1.92%
Cash Return on Invested Capital (CROIC)	-138.07%	-137.95%	-7.73%	-22.32%	-11.71%	-13.48%	-75.87%	-76.36%	-69.65%	-71.77%	0.00%
Operating Return on Assets (OROA)	2.78%	-16.23%	1.26%	-1.02%	0.06%	-3.59%	-3.39%	-10.89%	-5.59%	-2.52%	-3.35%
Return on Assets (ROA)	2.84%	173.76%	3.02%	0.19%	1.62%	-2.46%	-1.82%	-9.67%	-4.65%	-1.75%	-3.08%
Return on Common Equity (ROCE)	2.81%	55.53%	5.42%	1.85%	0.40%	0.33%	-3.15%	-6.16%	-4.42%	1.37%	-1.49%
Return on Equity Simple (ROE_SIMPLE)	38.74%	0.00%	0.95%	-0.86%	-4.28%	0.00%	-6.63%	-7.24%	-4.37%	0.00%	-1.86%
Net Operating Profit after Tax (NOPAT)	5.79	0.85	8.17	2.99	-0.17	1.81	-4.12	-4.99	-4.43	2.71	-0.81
NOPAT Margin	4.56%	0.67%	7.05%	2.80%	-0.17%	1.83%	-4.35%	-5.55%	-5.23%	3.28%	-1.06%
Net Nonoperating Expense Percent (NNEP)	0.47%	164.53%	-1.25%	-1.14%	1.06%	-2.22%	0.72%	-3.01%	-0.47%	-2.30%	-1.02%
Return On Investment Capital (ROIC_SIMPLE)	0.49%	0.08%	-	-	-	0.40%	-	-	-	0.70%	-
Cost of Revenue to Revenue	26.74%	26.54%	27.07%	27.99%	27.43%	28.62%	28.54%	29.99%	29.34%	27.78%	29.68%
SG&A Expenses to Revenue	22.72%	26.01%	19.53%	21.10%	20.17%	18.23%	27.75%	28.78%	27.55%	20.44%	21.39%
R&D to Revenue	29.48%	32.34%	31.61%	33.11%	36.68%	34.06%	34.07%	33.21%	33.21%	29.69%	33.23%
Operating Expenses to Revenue	67.68%	72.50%	66.59%	68.41%	72.73%	68.77%	77.68%	77.94%	78.13%	67.53%	71.84%
Earnings before Interest and Taxes (EBIT)	6.79	-39	1.99	-1.49	0.08	-5.03	-4.35	-13	-6.51	-2.84	-3.30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	11	-35	5.91	2.12	3.34	-1.74	-1.10	-10	-2.79	-0.03	-0.69
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.03	6.74	15.42	11.96	12.00	13.79	14.37	12.43	13.31	16.58	16.21
Price to Tangible Book Value (P/TBV)	7.47	7.50	21.08	16.62	14.83	17.27	18.20	16.18	17.79	22.77	16.21
Price to Revenue (P/Rev)	14.13	15.05	14.66	11.29	11.21	13.27	13.30	11.48	12.13	14.73	13.75
Price to Earnings (P/E)	15.68	16.02	9,366.98	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	6.38%	6.24%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	7.20	8.33	36.58	24.30	26.17	33.37	32.58	25.66	25.18	32.51	54.63
Enterprise Value to Revenue (EV/Rev)	13.69	14.56	14.09	10.79	10.68	12.69	12.76	10.98	11.68	14.28	13.14
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	620.97	1,654.89	0.00	0.00	0.00	0.00	0.00	1,323.99	621.02
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	477.84	768.38	427.58	16,306.86	0.00	0.00	0.00	0.00	0.00	1,209.81	2,876.30
Enterprise Value to Operating Cash Flow (EV/OCF)	73.40	88.54	46.86	39.72	47.58	55.21	57.09	59.20	62.79	74.71	73.04
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.04	0.10	0.11	0.12	0.12	0.13	0.13	0.14	0.15	0.17
Long-Term Debt to Equity	0.04	0.04	0.10	0.11	0.11	0.11	0.12	0.13	0.14	0.14	0.16
Financial Leverage	-0.31	-0.35	-0.64	-0.60	-0.60	-0.63	-0.70	-0.68	-0.66	-0.68	-0.78
Leverage Ratio	1.18	1.20	1.37	1.37	1.37	1.39	1.36	1.36	1.37	1.38	1.35
Compound Leverage Factor	1.48	1.13	2.95	-0.33	37.50	0.84	0.82	1.23	1.08	0.76	1.07
Debt to Total Capital	3.81%	4.27%	9.31%	10.06%	10.55%	10.60%	11.17%	11.87%	12.52%	13.15%	14.33%
Short-Term Debt to Total Capital	0.23%	0.26%	0.55%	0.58%	0.61%	0.60%	0.62%	0.65%	0.68%	0.71%	0.76%
Long-Term Debt to Total Capital	3.58%	4.01%	8.76%	9.48%	9.94%	10.00%	10.55%	11.21%	11.84%	12.45%	13.57%
Preferred Equity 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%
Noncontrolling Interests to Total Capital	2.25%	2.04%	10.07%	10.08%	10.03%	12.07%	14.93%	14.91%	15.95%	17.67%	17.65%
Common Equity to Total Capital	93.94%	93.69%	80.62%	79.86%	79.42%	77.32%	73.89%	73.23%	71.53%	69.17%	68.02%
Debt to EBITDA	-2.94	-1.98	4.84	18.24	-4.97	-3.08	-3.50	-3.66	-18.71	15.66	8.44
Net Debt to EBITDA	15.42	10.36	-30.13	-95.01	25.78	17.07	18.03	16.69	76.30	-62.44	-38.98
Long-Term Debt to EBITDA	-2.76	-1.87	4.55	17.19	-4.68	-2.91	-3.31	-3.45	-17.69	14.82	8.00
Debt to NOPAT	3.32	5.36	3.33	179.73	-6.46	-4.14	-4.55	-6.64	-29.08	14.31	39.11
Net Debt to NOPAT	-17.42	-28.01	-20.75	-936.25	33.54	22.96	23.43	30.33	118.57	-57.06	-180.54
Long-Term Debt to NOPAT	3.12	5.04	3.13	169.42	-6.09	-3.91	-4.30	-6.27	-27.49	13.54	37.04
Altman Z-Score	29.30	30.20	22.94	18.34	19.33	20.55	20.37	17.07	17.53	19.47	22.90
Noncontrolling Interest Sharing Ratio	4.67%	5.37%	13.75%	13.86%	14.48%	16.60%	18.49%	18.77%	19.86%	22.30%	22.44%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.09	4.99	4.66	4.78	5.59	5.15	6.35	6.29	5.87	5.40	10.50
Quick Ratio	4.75	4.69	4.40	4.44	5.14	4.81	5.97	5.79	5.37	4.97	10.04
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-741	-649	-17	-33	-11	-4.89	-72	-78	-79	-70	-20
Operating Cash Flow to CapEx	1,668.94%	-3,552.19%	3,325.97%	2,910.93%	697.98%	1,542.70%	4,087.52%	1,341.18%	462.14%	966.88%	767.78%
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	0.52	0.52	0.73	0.74	0.74	0.71	0.74	0.73	0.73	0.73	0.78
Accounts Receivable Turnover	4.57	4.56	4.42	4.48	4.40	4.47	4.48	4.83	4.80	4.94	5.09
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	31.96	29.97	28.21	26.36	25.47	24.21	24.83	23.80	23.37	23.52	24.70
Accounts Payable Turnover	54.08	41.02	33.21	39.08	41.11	34.82	44.57	52.21	50.48	38.95	53.35
Days Sales Outstanding (DSO)	79.84	80.08	82.59	81.43	83.01	81.62	81.38	75.62	76.00	73.84	71.77
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)	6.75	8.90	10.99	9.34	8.88	10.48	8.19	6.99	7.23	9.37	6.84
Cash Conversion Cycle (CCC)	73.09	71.18	71.60	72.09	74.13	71.14	73.19	68.63	68.76	64.47	64.93
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	905	790	163	179	158	140	138	143	147	133	70
Invested Capital Turnover	0.90	0.97	2.82	2.51	2.53	2.69	3.39	3.15	2.89	3.14	4.81
Increase / (Decrease) in Invested Capital	747	650	26	36	10	6.70	68	73	75	73	19
Enterprise Value (EV)	6,516	6,580	5,980	4,349	4,126	4,671	4,491	3,665	3,706	4,333	3,817
Market Capitalization	6,727	6,798	6,220	4,551	4,329	4,884	4,679	3,830	3,848	4,469	3,993
Book Value per Share	$4.70	$4.08	$1.64	$1.55	$1.47	$1.45	$1.35	$1.28	$1.20	$1.13	$1.04
Tangible Book Value per Share	$3.79	$3.67	$1.20	$1.11	$1.19	$1.16	$1.06	$0.98	$0.90	$0.82	$1.04
Total Capital	1,188	1,076	500	477	454	458	441	421	404	390	362
Total Debt	45	46	47	48	48	49	49	50	51	51	52
Total Long-Term Debt	42	43	44	45	45	46	46	47	48	48	49
Net Debt	-238	-240	-290	-250	-249	-269	-254	-228	-206	-204	-240
Capital Expenditures (CapEx)	1.47	0.82	1.49	1.51	1.44	1.56	0.77	1.58	1.72	1.88	1.91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	59	55	35	48	60	42	56	56	52	37	49
Debt-free Net Working Capital (DFNWC)	342	310	341	305	328	338	341	310	292	293	340
Net Working Capital (NWC)	339	308	338	303	325	335	338	307	290	290	338
Net Nonoperating Expense (NNE)	-1.15	-419	3.40	2.71	-2.41	5.26	-1.78	6.89	0.99	4.68	2.21
Net Nonoperating Obligations (NNO)	-238	-240	-290	-250	-249	-270	-254	-228	-206	-205	-240
Total Depreciation and Amortization (D&A)	4.28	4.76	3.91	3.61	3.26	3.29	3.25	3.23	3.72	2.82	2.61
Debt-free, Cash-free Net Working Capital to Revenue	12.40%	12.14%	8.33%	11.79%	15.56%	11.34%	15.81%	16.92%	16.47%	12.35%	16.81%
Debt-free Net Working Capital to Revenue	71.83%	68.69%	80.40%	75.76%	84.83%	91.79%	96.88%	92.89%	92.14%	96.59%	117.16%
Net Working Capital to Revenue	71.25%	68.08%	79.75%	75.08%	84.12%	91.05%	96.09%	92.07%	91.28%	95.69%	116.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.03	$1.90	$0.02	$0.00	$0.01	($0.02)	($0.01)	($0.06)	($0.02)	($0.01)	($0.02)
Adjusted Weighted Average Basic Shares Outstanding	237.32M	219.32M	219.01M	218.35M	213.26M	199.69M	201.58M	198.05M	192.99M	185.56M	187.82M
Adjusted Diluted Earnings per Share	$0.03	$1.65	$0.02	$0.00	$0.01	($0.02)	($0.01)	($0.06)	($0.02)	($0.01)	($0.01)
Adjusted Weighted Average Diluted Shares Outstanding	246.21M	254.36M	231.47M	218.35M	255.46M	199.69M	201.58M	198.05M	192.99M	185.56M	237.87M
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	283.28M	251.02M	247.02M	246.32M	245.72M	244.70M	243.86M	241.92M	241.35M	241.11M	238.34M
Normalized Net Operating Profit after Tax (NOPAT)	5.79	0.85	5.14	2.99	-0.12	1.81	-4.12	-4.99	-4.43	2.71	-0.81
Normalized NOPAT Margin	4.56%	0.67%	4.43%	2.80%	-0.11%	1.83%	-4.35%	-5.55%	-5.23%	3.28%	-1.06%
Pre Tax Income Margin	6.69%	-29.13%	3.70%	0.33%	2.08%	-3.08%	-2.76%	-13.41%	-6.09%	-1.89%	-3.40%
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	0.89%	0.91%	56.70%	-66.87%	-14.21%	-9.46%	-0.62%	0.00%	0.00%	-1.75%	-0.37%
Augmented Payout Ratio	0.89%	0.91%	56.70%	-66.87%	-14.21%	-9.46%	-0.62%	0.00%	0.00%	-4.94%	-76.45%

Frequently Asked Questions About Clearwater Analytics' Financials

When does Clearwater Analytics's fiscal year end?

According to the most recent income statement we have on file, Clearwater Analytics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Clearwater Analytics' net income changed over the last 5 years?

Clearwater Analytics' net income appears to be on an upward trend, with a most recent value of $427.59 million in 2024, rising from $7.73 million in 2019. The previous period was -$23.08 million in 2023. See Clearwater Analytics' forecast for analyst expectations on what’s next for the company.

What is Clearwater Analytics's operating income?

Clearwater Analytics's total operating income in 2024 was $12.23 million, based on the following breakdown:

Total Gross Profit: $328.82 million
Total Operating Expenses: $316.58 million

How has Clearwater Analytics revenue changed over the last 5 years?

Over the last 5 years, Clearwater Analytics' total revenue changed from $168.00 million in 2019 to $451.80 million in 2024, a change of 168.9%.

How much debt does Clearwater Analytics have?

Clearwater Analytics' total liabilities were at $139.34 million at the end of 2024, a 6.5% decrease from 2023, and a 69.7% decrease since 2020.

How much cash does Clearwater Analytics have?

In the past 4 years, Clearwater Analytics' cash and equivalents has ranged from $61.09 million in 2020 to $254.60 million in 2021, and is currently $177.35 million as of their latest financial filing in 2024.

How has Clearwater Analytics' book value per share changed over the last 5 years?

Over the last 5 years, Clearwater Analytics' book value per share changed from 0.00 in 2019 to 4.08 in 2024, a change of 408.2%.

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This page (NYSE:CWAN) was last updated on 5/29/2025 by MarketBeat.com Staff

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Clearwater Analytics (CWAN) Financials

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