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CLEAR Secure (YOU) Financials

CLEAR Secure logo
$61.11 -0.90 (-1.45%)
Closing price 03:59 PM Eastern
Extended Trading
$61.88 +0.77 (+1.26%)
As of 04:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for CLEAR Secure

Annual Income Statements for CLEAR Secure

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 0.00 -9.31 -36 -66 28 170 109
Consolidated Net Income / (Loss)		 -54 -9.31 -115 -115 50 225 168
Net Income / (Loss) Continuing Operations		 -22 -9.31 -115 -115 50 225 168
Total Pre-Tax Income 		-54 -9.29 -115 -117 51 67 206
Total Operating Income		 -56 -19 -115 -129 20 123 186
Total Gross Profit		 132 190 186 333 471 597 708
Total Revenue		 192 231 254 437 614 770 901
Operating Revenue		 192 231 254 437 614 770 901
Total Cost of Revenue		 60 41 68 105 143 173 193
Operating Cost of Revenue		 60 41 68 105 143 173 193
Total Operating Expenses		 156 209 301 462 451 474 522
Selling, General & Admin Expense		 92 118 169 278 222 218 232
Marketing Expense		 36 16 35 42 44 49 54
Research & Development Expense		 21 32 47 67 74 73 72
Depreciation Expense		 7.32 9.42 12 19 22 26 35
Other Operating Expenses / (Income)		 - 33 37 56 89 108 128
Total Other Income / (Expense), net		 1.94 9.64 -0.01 12 30 -57 20
Interest & Investment Income		 1.94 0.61 -0.35 6.59 29 33 24
Other Income / (Expense), net		 0.00 9.02 0.34 4.98 1.46 -89 -4.79
Income Tax Expense		 0.00 0.02 0.23 -2.06 0.72 -159 38
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 -79 -50 22 56 59
Basic Earnings per Share		 $0.00 $0.00 ($0.96) ($1.60) $0.62 $3.62 $2.28
Weighted Average Basic Shares Outstanding		 0.00 0.00 76.56M 82.12M 90.60M 93.90M 95.97M
Diluted Earnings per Share		 $0.00 $0.00 ($0.96) ($1.60) $0.62 $3.12 $2.24
Weighted Average Diluted Shares Outstanding		 0.00 0.00 76.56M 82.12M 91.62M 144.51M 97.81M
Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 149.89M 153.35M 150.63M 136.87M 133.32M

Quarterly Income Statements for CLEAR Secure

This table shows CLEAR Secure'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		 15 14 19 24 23 103 25 25 28 31 39
Consolidated Net Income / (Loss)		 27 23 32 39 38 117 39 38 45 47 56
Net Income / (Loss) Continuing Operations		 27 23 32 39 38 117 39 38 45 47 56
Total Pre-Tax Income 		28 23 34 39 43 -49 44 44 61 57 71
Total Operating Income		 19 16 24 30 35 34 37 43 53 54 62
Total Gross Profit		 125 131 139 147 154 158 161 172 181 194 205
Total Revenue		 160 171 179 187 198 206 211 219 229 241 253
Operating Revenue		 160 171 179 187 198 206 211 219 229 241 253
Total Cost of Revenue		 35 40 40 40 45 48 51 48 48 46 48
Operating Cost of Revenue		 35 40 40 40 45 48 51 48 48 46 48
Total Operating Expenses		 106 115 115 116 119 124 123 129 129 140 143
Selling, General & Admin Expense		 56 52 53 55 54 55 55 59 59 60 64
Marketing Expense		 9.74 13 12 11 12 15 13 14 13 14 16
Research & Development Expense		 12 18 20 17 17 18 19 18 18 17 19
Depreciation Expense		 5.26 6.23 6.09 6.44 6.97 6.98 6.53 6.77 7.42 14 6.83
Other Operating Expenses / (Income)		 23 25 24 26 29 29 30 31 32 35 37
Total Other Income / (Expense), net		 8.34 7.44 10 8.66 7.69 -83 6.60 1.75 8.26 2.98 8.74
Interest & Investment Income		 7.68 7.55 9.93 8.25 7.25 7.09 6.15 5.81 6.62 5.80 6.76
Other Income / (Expense), net		 0.66 -0.11 0.44 0.42 0.44 -90 0.45 -4.06 1.64 -2.83 1.98
Income Tax Expense		 0.75 -0.12 1.97 0.41 4.75 -166 5.42 6.43 16 10 14
Net Income / (Loss) Attributable to Noncontrolling Interest		 12 9.29 13 14 15 13 13 13 17 16 18
Basic Earnings per Share		 $0.34 $0.32 $0.40 $0.52 $0.50 $2.20 $0.52 $0.52 $0.58 $0.66 $0.78
Weighted Average Basic Shares Outstanding		 90.10M 90.60M 92.74M 92.89M 93.59M 93.90M 96.00M 93.60M 96.42M 95.97M 99.51M
Diluted Earnings per Share		 $0.34 $0.32 $0.40 $0.52 $0.50 $1.70 $0.52 $0.52 $0.58 $0.62 $0.76
Weighted Average Diluted Shares Outstanding		 90.88M 91.62M 93.41M 93.51M 95.17M 144.51M 97.52M 95.03M 98.34M 97.81M 101.35M
Weighted Average Basic & Diluted Shares Outstanding		 150.81M 150.63M 144.83M 139.25M 139.40M 136.87M 133.04M 132.93M 133.16M 133.32M 133.64M

Annual Cash Flow Statements for CLEAR Secure

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 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		 171 -97 170 -240 -6.48 7.91 18
Net Cash From Operating Activities		 17 -12 70 168 225 296 372
Net Cash From Continuing Operating Activities		 17 -12 70 168 225 295 372
Net Income / (Loss) Continuing Operations		 -54 -9.31 -115 -115 50 225 168
Consolidated Net Income / (Loss)		 -54 -9.31 -115 -115 50 225 168
Depreciation Expense		 7.32 9.42 12 16 18 22 24
Amortization Expense		 0.00 0.00 1.03 0.75 -10 -2.39 9.58
Non-Cash Adjustments To Reconcile Net Income		 17 6.93 49 138 39 42 36
Changes in Operating Assets and Liabilities, net		 47 -19 122 129 128 8.62 135
Net Cash From Investing Activities		 -26 -22 -403 -360 -16 114 -97
Net Cash From Continuing Investing Activities		 -26 -22 -403 -360 -16 114 -97
Purchase of Property, Plant & Equipment		 -15 -17 -28 -31 -26 -12 -29
Acquisitions		 -0.50 -0.42 -77 -0.55 -4.33 -0.32 0.00
Purchase of Investments		 -101 -171 -988 -1,463 -959 -972 -748
Divestitures		 - - - - 0.00 0.00 2.70
Sale and/or Maturity of Investments		 90 166 690 1,135 973 1,098 677
Net Cash From Financing Activities		 180 -63 503 -49 -216 -402 -257
Net Cash From Continuing Financing Activities		 180 -63 503 -49 -216 -402 -257
Repayment of Debt		 0.00 -0.65 -0.72 -0.30 -0.40 -1.25 -0.33
Repurchase of Common Equity		 -12 -210 -12 -4.90 -70 -273 -126
Payment of Dividends		 0.00 0.00 0.00 -38 -57 -93 -67
Other Financing Activities, net		 0.00 0.00 -1.54 -5.58 -89 -34 -64

Quarterly Cash Flow Statements for CLEAR Secure

This table details how cash moves in and out of CLEAR Secure'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		 3.22 -6.11 5.30 -25 -6.41 34 20 1.32 -14 9.93 85
Net Cash From Operating Activities		 -4.86 94 80 115 -36 137 98 123 -47 198 190
Net Cash From Continuing Operating Activities		 -4.86 94 80 115 -36 137 98 123 -47 198 190
Net Income / (Loss) Continuing Operations		 27 23 32 39 38 117 39 38 45 47 56
Consolidated Net Income / (Loss)		 27 23 32 39 38 117 39 38 45 47 56
Depreciation Expense		 4.42 5.28 5.17 5.56 5.62 5.40 5.43 5.71 6.39 6.39 6.72
Amortization Expense		 -1.42 -2.93 -1.32 -1.23 -0.46 0.62 1.39 0.75 0.41 7.03 -0.21
Non-Cash Adjustments To Reconcile Net Income		 4.64 1.17 13 13 5.18 5.60 8.98 17 8.49 1.06 14
Changes in Operating Assets and Liabilities, net		 -39 67 32 58 -84 8.42 44 61 -108 137 114
Net Cash From Investing Activities		 31 12 26 0.20 122 -34 93 -77 56 -170 -21
Net Cash From Continuing Investing Activities		 31 12 26 0.20 122 -34 93 -77 56 -170 -21
Purchase of Property, Plant & Equipment		 -4.04 -3.73 -2.78 -4.44 -2.04 -2.75 -7.08 -5.06 -6.17 -11 -4.87
Purchase of Investments		 -223 -318 -216 -141 -347 -268 -97 -146 -233 -271 -287
Sale and/or Maturity of Investments		 262 334 245 146 471 237 198 72 296 112 270
Net Cash From Financing Activities		 -23 -112 -101 -140 -92 -68 -171 -45 -23 -18 -84
Net Cash From Continuing Financing Activities		 -23 -112 -101 -140 -92 -68 -171 -45 -23 -18 -84
Repurchase of Common Equity		 -11 -14 -85 -65 -75 -48 -102 -25 - - -1.24
Payment of Dividends		 -11 -96 -14 -49 -14 12 -42 -17 -17 8.68 -40
Other Financing Activities, net		 -0.89 -2.12 -2.67 -26 -2.99 -31 -27 -3.76 -6.05 -27 -43

Annual Balance Sheets for CLEAR Secure

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 232 813 1,038 1,045 1,195 1,303
Total Current Assets		 172 653 742 770 662 765
Cash & Equivalents		 116 280 39 58 67 86
Short-Term Investments		 38 335 666 665 543 614
Accounts Receivable		 0.91 5.33 1.17 0.53 0.51 1.93
Prepaid Expenses		 17 32 36 46 52 63
Plant, Property, & Equipment, net		 35 45 58 63 57 59
Total Noncurrent Assets		 25 115 238 212 476 479
Goodwill		 0.00 60 59 63 63 63
Intangible Assets		 1.56 23 22 21 15 2.75
Other Noncurrent Operating Assets		 24 32 157 129 398 414
Total Liabilities & Shareholders' Equity		 232 813 1,038 1,045 1,195 1,303
Total Liabilities		 150 273 527 676 957 1,099
Total Current Liabilities		 146 265 397 552 643 760
Accounts Payable		 8.52 8.81 7.95 12 18 7.16
Accrued Expenses		 18 67 106 164 185 237
Current Deferred Revenue		 102 189 283 376 440 516
Total Noncurrent Liabilities		 3.81 8.69 129 124 314 339
Other Noncurrent Operating Liabilities		 3.81 8.69 129 124 314 339
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 0.00 539 511 369 238 204
Total Preferred & Common Equity		 0.00 278 291 233 198 178
Total Common Equity		 -487 278 291 233 198 178
Common Stock		 7.85 314 394 305 114 57
Retained Earnings		 -495 -36 -102 -74 84 120
Treasury Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Accumulated Other Comprehensive Income / (Loss)		 0.03 -0.10 -1.53 2.05 0.34 0.84
Noncontrolling Interest		 0.00 262 220 136 40 27

Quarterly Balance Sheets for CLEAR Secure

This table presents CLEAR Secure'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		 895 1,094 1,086 1,062 1,017 982 859 1,111 1,180 1,126 1,422
Total Current Assets		 706 785 807 781 744 714 596 582 654 589 865
Cash & Equivalents		 329 39 57 64 64 39 33 88 89 76 171
Short-Term Investments		 342 709 708 673 0.62 1.12 512 442 516 455 629
Accounts Receivable		 2.10 0.96 0.93 0.74 634 631 0.64 0.51 1.05 1.63 1.06
Prepaid Expenses		 33 36 41 44 45 43 50 51 47 57 64
Plant, Property, & Equipment, net		 56 68 65 66 60 59 58 55 54 55 58
Total Noncurrent Assets		 132 241 215 215 213 209 205 474 473 482 499
Goodwill		 59 59 59 63 63 63 63 63 63 63 63
Intangible Assets		 23 21 21 22 20 18 17 14 11 10 2.64
Other Noncurrent Operating Assets		 50 161 135 131 130 128 125 397 399 409 434
Total Liabilities & Shareholders' Equity		 895 1,094 1,086 1,062 1,017 982 859 1,111 1,180 1,126 1,422
Total Liabilities		 364 595 624 604 748 754 678 985 1,053 960 1,209
Total Current Liabilities		 341 465 497 478 625 633 558 688 750 633 860
Accounts Payable		 8.79 11 3.97 14 7.07 8.86 11 6.05 6.76 8.36 6.47
Accrued Expenses		 76 156 172 112 240 236 130 247 304 155 299
Current Deferred Revenue		 256 298 321 352 378 388 417 435 439 470 555
Total Noncurrent Liabilities		 24 130 127 125 123 121 120 297 304 327 349
Other Noncurrent Operating Liabilities		 24 130 127 125 123 121 120 297 304 327 349
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		 530 499 462 458 269 228 181 126 127 166 214
Total Preferred & Common Equity		 292 297 267 276 166 154 129 117 121 149 185
Total Common Equity		 292 297 267 276 166 154 129 117 121 149 185
Common Stock		 384 404 371 364 221 185 135 44 36 47 62
Retained Earnings		 -90 -107 -103 -88 -55 -31 -7.32 72 85 101 123
Treasury Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accumulated Other Comprehensive Income / (Loss)		 -1.84 -0.59 -1.33 -0.49 0.22 -0.56 1.47 0.52 0.59 0.81 -0.32
Noncontrolling Interest		 239 202 195 182 103 75 52 9.30 5.35 17 28

Annual Metrics And Ratios for CLEAR Secure

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

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 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% 20.03% 10.03% 72.25% 40.27% 25.57% 16.91%
EBITDA Growth		 0.00% 99.01% -20,851.97% -6.53% 127.63% 79.57% 302.36%
EBIT Growth		 0.00% 82.36% -1,056.76% -8.29% 117.41% 57.96% 432.53%
NOPAT Growth		 0.00% 66.30% -507.18% -12.30% 121.97% 1,998.36% -63.47%
Net Income Growth		 0.00% 82.83% -1,137.07% -0.23% 143.22% 351.56% -25.36%
EPS Growth		 0.00% 0.00% 0.00% -66.67% 138.75% 403.23% -28.21%
Operating Cash Flow Growth		 0.00% -174.44% 664.98% 141.45% 33.70% 31.39% 25.97%
Free Cash Flow Firm Growth		 0.00% 0.00% -230.52% 136.21% 551.41% 141.37% -36.35%
Invested Capital Growth		 0.00% 0.00% -5.84% -155.48% -82.57% -5.00% -33.44%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 12.21% 7.48% 4.80% 3.98%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 4.33% 375.28% -56.05% 114.29%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 4.60% 212.55% -67.81% 144.47%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -0.37% 164.35% 318.49% -61.67%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 9.70% 534.38% 70.70% -29.40%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 9.09% 3,000.00% 79.31% -32.53%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 28.82% 39.38% 7.07% 16.78% 19.90%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 69.27% 134.71% -30.55%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -37.40% -27.21% -2.17% -35.97%
Profitability Metrics		 - - - - - - -
Gross Margin		 68.78% 82.44% 73.33% 76.05% 76.72% 77.54% 78.62%
EBITDA Margin		 -25.40% -0.21% -39.85% -24.65% 4.85% 6.94% 23.89%
Operating Margin		 -29.21% -8.20% -45.26% -29.50% 3.28% 15.99% 20.70%
EBIT Margin		 -29.21% -4.29% -45.12% -28.37% 3.52% 4.43% 20.17%
Profit (Net Income) Margin		 -28.20% -4.03% -45.35% -26.39% 8.13% 29.24% 18.67%
Tax Burden Percent		 100.00% 100.17% 100.20% 98.25% 98.57% 338.11% 81.60%
Interest Burden Percent		 96.54% 93.82% 100.30% 94.69% 234.33% 195.28% 113.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 1.43% -238.11% 18.40%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -1.64% -20.78% -21.98% 11.34% 74.21% 76.03%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -4.26% -21.93% -13.41% 2.07% 3.05% 14.54%
Return on Assets (ROA)		 0.00% -4.01% -22.04% -12.48% 4.79% 20.11% 13.46%
Return on Common Equity (ROCE)		 0.00% 1.40% 3.92% -11.90% 6.75% 52.76% 64.64%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -41.49% -39.66% 21.38% 113.57% 0.00%
Net Operating Profit after Tax (NOPAT)		 -39 -13 -80 -90 20 417 152
NOPAT Margin		 -20.45% -5.74% -31.68% -20.65% 3.24% 54.06% 16.89%
Net Nonoperating Expense Percent (NNEP)		 0.00% 1.23% -5.53% -3.80% 4.21% -28.70% 2.44%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -17.68% 5.38% 175.05% 74.45%
Cost of Revenue to Revenue		 31.22% 17.56% 26.67% 23.95% 23.28% 22.46% 21.38%
SG&A Expenses to Revenue		 47.63% 51.20% 66.51% 63.59% 36.24% 28.23% 25.80%
R&D to Revenue		 11.04% 13.88% 18.70% 15.27% 12.13% 9.52% 8.04%
Operating Expenses to Revenue		 81.20% 90.64% 118.59% 105.55% 73.44% 61.55% 57.91%
Earnings before Interest and Taxes (EBIT)		 -56 -9.91 -115 -124 22 34 182
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -49 -0.48 -101 -108 30 53 215
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 15.34 13.30 12.91 18.72 26.28
Price to Tangible Book Value (P/TBV)		 0.00 0.00 21.85 18.44 20.11 30.87 41.60
Price to Revenue (P/Rev)		 2.13 1.77 16.77 8.85 4.91 4.82 5.19
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 107.14 21.89 42.79
Dividend Yield		 0.00% 0.00% 0.00% 0.98% 3.05% 2.76% 2.20%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.93% 4.57% 2.34%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 3.57 15.38 7.74 3.95 4.08 4.44
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 81.39 58.78 18.58
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 112.24 92.15 22.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 122.12 7.55 26.27
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 56.03 20.13 10.77 10.63 10.73
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 14.11 0.00 122.65 13.48 7.24 14.46
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -1.13 -1.13 -1.26 -1.62 -2.19 -2.96
Leverage Ratio		 0.00 0.41 0.94 1.76 2.37 3.69 5.65
Compound Leverage Factor		 0.00 0.38 0.95 1.67 5.54 7.20 6.41
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 100.00% 48.54% 43.03% 36.81% 16.64% 13.04%
Common Equity to Total Capital		 0.00% -85.53% 51.46% 56.97% 63.19% 83.36% 86.96%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 -0.36 9.71 4.70 3.48 3.18 3.83
Noncontrolling Interest Sharing Ratio		 0.00% 185.53% 118.88% 45.86% 40.42% 28.90% 14.98%
Liquidity Ratios		 - - - - - - -
Current Ratio		 0.00 1.17 2.47 1.87 1.39 1.03 1.01
Quick Ratio		 0.00 1.06 2.35 1.78 1.31 0.95 0.92
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 58 -76 28 180 434 276
Operating Cash Flow to CapEx		 112.89% -74.77% 247.64% 536.67% 880.58% 2,462.13% 1,269.43%
Free Cash Flow to Firm to Interest Expense		 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
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.99 0.49 0.47 0.59 0.69 0.72
Accounts Receivable Turnover		 0.00 253.07 81.36 134.60 723.99 1,485.99 739.56
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 6.55 6.37 8.54 10.18 12.90 15.50
Accounts Payable Turnover		 0.00 4.76 7.82 12.51 14.48 11.61 15.30
Days Sales Outstanding (DSO)		 0.00 1.44 4.49 2.71 0.50 0.25 0.49
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 76.72 46.69 29.19 25.21 31.43 23.85
Cash Conversion Cycle (CCC)		 0.00 -75.28 -42.20 -26.48 -24.71 -31.19 -23.36
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 0.00 -72 -76 -194 -354 -372 -496
Invested Capital Turnover		 0.00 -6.44 -3.44 -3.24 -2.24 -2.12 -2.08
Increase / (Decrease) in Invested Capital		 0.00 -72 -4.18 -118 -160 -18 -124
Enterprise Value (EV)		 0.00 824 3,906 3,387 2,424 3,144 3,998
Market Capitalization		 409 409 4,259 3,872 3,011 3,714 4,671
Book Value per Share		 $0.00 ($36.89) $1.89 $1.91 $1.55 $1.42 $1.33
Tangible Book Value per Share		 $0.00 ($37.00) $1.33 $1.38 $0.99 $0.86 $0.84
Total Capital		 0.00 569 539 511 369 238 204
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 0.00 -154 -615 -705 -723 -609 -700
Capital Expenditures (CapEx)		 15 17 28 31 26 12 29
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -129 -227 -361 -505 -590 -695
Debt-free Net Working Capital (DFNWC)		 0.00 26 388 344 218 19 4.71
Net Working Capital (NWC)		 0.00 26 388 344 218 19 4.71
Net Nonoperating Expense (NNE)		 15 -3.94 35 25 -30 191 -16
Net Nonoperating Obligations (NNO)		 0.00 -641 -615 -705 -723 -609 -700
Total Depreciation and Amortization (D&A)		 7.32 9.42 13 16 8.18 19 33
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -55.68% -89.33% -82.44% -82.32% -76.62% -77.21%
Debt-free Net Working Capital to Revenue		 0.00% 11.06% 152.98% 78.67% 35.53% 2.49% 0.52%
Net Working Capital to Revenue		 0.00% 11.06% 152.98% 78.67% 35.53% 2.49% 0.52%
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($0.96) ($1.60) $0.62 $3.62 $2.28
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 76.56M 82.12M 90.60M 93.90M 95.97M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.96) ($1.60) $0.62 $3.12 $2.24
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 76.56M 82.12M 91.62M 144.51M 97.81M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 149.89M 153.35M 150.63M 136.87M 133.32M
Normalized Net Operating Profit after Tax (NOPAT)		 -39 -13 -80 -90 20 86 152
Normalized NOPAT Margin		 -20.45% -5.74% -31.68% -20.65% 3.24% 11.19% 16.89%
Pre Tax Income Margin		 -28.20% -4.03% -45.26% -26.86% 8.25% 8.65% 22.88%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 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
EBIT Less CapEx to Interest Expense		 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
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% -33.00% 250.95% 28.65% 39.59%
Augmented Payout Ratio		 -22.29% -2,259.28% -10.20% -37.25% 390.61% 149.80% 114.73%

Quarterly Metrics And Ratios for CLEAR Secure

This table displays calculated financial ratios and metrics derived from CLEAR Secure'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		 - - - - - - - - - - 133,321,600.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 133,321,600.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.29
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 38.36% 33.30% 35.28% 24.60% 23.72% 20.65% 18.05% 17.52% 15.51% 16.72% 19.70%
EBITDA Growth		 136.15% 179.19% 305.98% 1,315.37% 77.34% -380.14% 59.69% 28.14% 50.06% 228.32% 57.81%
EBIT Growth		 129.44% 161.88% 263.20% 3,513.75% 78.15% -460.99% 56.88% 25.19% 52.73% 190.75% 69.04%
NOPAT Growth		 140.78% 170.43% 311.77% 14,096.89% 66.32% 51.14% 46.92% 21.19% 25.09% 84.90% 50.68%
Net Income Growth		 140.98% 224.01% 487.86% 380.35% 41.55% 401.08% 20.24% -1.86% 18.73% -60.07% 46.14%
EPS Growth		 138.64% 214.29% 433.33% 550.00% 47.06% 431.25% 30.00% 0.00% 16.00% -63.53% 46.15%
Operating Cash Flow Growth		 -136.89% 18.73% 32.25% 52.77% -638.02% 45.13% 22.40% 7.33% -31.87% 45.24% 93.56%
Free Cash Flow Firm Growth		 772.17% 84.01% -413.08% -385.91% -25.16% -76.38% 248.53% 252.52% -65.71% 305.26% -63.82%
Invested Capital Growth		 -97.20% -82.57% 181.97% 162.01% -30.72% -5.00% -297.48% -354.77% -0.27% -33.44% -45.20%
Revenue Q/Q Growth		 7.02% 6.60% 4.73% 4.30% 6.25% 3.95% 2.47% 3.83% 4.43% 5.04% 5.09%
EBITDA Q/Q Growth		 825.45% -21.79% 55.90% 25.43% 15.95% -223.55% 188.87% 0.65% 35.78% 5.65% 9.30%
EBIT Q/Q Growth		 2,243.13% -21.81% 54.75% 27.46% 15.51% -258.45% 167.25% 1.71% 40.91% -5.85% 25.26%
NOPAT Q/Q Growth		 8,768.73% -15.84% 41.43% 34.48% 3.90% -23.52% 37.48% 10.93% 7.25% 13.05% 12.03%
Net Income Q/Q Growth		 234.37% -13.40% 37.93% 20.27% -1.47% 206.57% -66.90% -1.84% 19.19% 3.10% 21.14%
EPS Q/Q Growth		 325.00% -5.88% 25.00% 30.00% -3.85% 240.00% -69.41% 0.00% 11.54% 6.90% 22.58%
Operating Cash Flow Q/Q Growth		 -106.48% 2,036.85% -14.64% 42.61% -131.30% 480.87% -28.01% 25.05% -138.46% 519.50% -4.06%
Free Cash Flow Firm Q/Q Growth		 -3.37% 12.80% -345.52% -6.84% 125.29% -64.39% 1,443.64% 9.71% -94.31% 320.87% 37.80%
Invested Capital Q/Q Growth		 8.25% -27.21% 157.79% -8.06% -293.40% -2.17% -8.70% -18.61% 23.88% -35.97% -18.28%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 77.97% 76.53% 77.50% 78.53% 77.41% 76.81% 75.99% 78.27% 79.18% 80.71% 80.93%
EBITDA Margin		 14.30% 10.50% 15.62% 18.79% 20.50% -24.37% 21.13% 20.49% 26.64% 26.79% 27.86%
Operating Margin		 12.02% 9.18% 13.23% 16.25% 17.68% 16.52% 17.70% 19.39% 22.96% 22.39% 24.51%
EBIT Margin		 12.43% 9.12% 13.48% 16.47% 17.90% -27.29% 17.91% 17.54% 23.67% 21.22% 25.29%
Profit (Net Income) Margin		 16.75% 13.61% 17.92% 20.67% 19.16% 56.51% 18.25% 17.26% 19.70% 19.33% 22.29%
Tax Burden Percent		 97.27% 100.53% 94.23% 98.95% 88.89% -236.93% 87.68% 85.49% 74.16% 81.82% 79.70%
Interest Burden Percent		 138.50% 148.42% 141.13% 126.82% 120.41% 87.41% 116.26% 115.08% 112.21% 111.36% 110.57%
Effective Tax Rate		 2.73% -0.53% 5.77% 1.05% 11.11% 0.00% 12.32% 14.52% 25.84% 18.18% 20.30%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 1.59% 11.34% 23.51% 35.01% 41.28% 74.21% 117.27% 130.19% 137.26% 76.03% 109.50%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -194.07% -215.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 7.25% 5.37% 8.43% 11.10% 13.71% -18.77% 13.51% 13.56% 20.67% 15.30% 18.81%
Return on Assets (ROA)		 9.77% 8.02% 11.21% 13.93% 14.67% 38.88% 13.77% 13.34% 17.20% 13.94% 16.58%
Return on Common Equity (ROCE)		 0.91% 6.75% 14.17% 21.33% 26.14% 52.76% 83.83% 100.82% 109.77% 64.64% 97.38%
Return on Equity Simple (ROE_SIMPLE)		 2.85% 0.00% 54.41% 78.68% 102.32% 0.00% 198.62% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 19 16 22 30 31 24 33 36 39 44 49
NOPAT Margin		 11.69% 9.23% 12.47% 16.07% 15.72% 11.56% 15.52% 16.58% 17.02% 18.32% 19.53%
Net Nonoperating Expense Percent (NNEP)		 1.15% 1.05% 2.40% 2.13% 1.07% 13.92% 1.95% 0.46% 1.14% 0.37% 1.05%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.27% - - - 10.03% 26.03% 28.72% 23.50% 21.58% 23.13%
Cost of Revenue to Revenue		 22.03% 23.47% 22.50% 21.47% 22.59% 23.19% 24.01% 21.73% 20.82% 19.29% 19.07%
SG&A Expenses to Revenue		 34.98% 30.43% 29.54% 29.65% 27.17% 26.82% 25.90% 26.67% 25.66% 25.04% 25.15%
R&D to Revenue		 7.35% 10.76% 11.23% 9.32% 8.78% 8.93% 8.99% 8.31% 7.85% 7.13% 7.69%
Operating Expenses to Revenue		 65.95% 67.34% 64.27% 62.29% 59.73% 60.29% 58.30% 58.88% 56.22% 58.32% 56.42%
Earnings before Interest and Taxes (EBIT)		 20 16 24 31 36 -56 38 39 54 51 64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 23 18 28 35 41 -50 45 45 61 65 70
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 9.85 12.91 19.23 17.65 35.78 18.72 30.39 30.44 29.87 26.28 34.82
Price to Tangible Book Value (P/TBV)		 14.20 20.11 38.42 37.35 93.53 30.87 89.25 77.98 58.67 41.60 53.77
Price to Revenue (P/Rev)		 4.76 4.91 4.83 3.89 6.28 4.82 4.42 4.42 5.12 5.19 6.85
Price to Earnings (P/E)		 968.89 107.14 61.19 37.51 57.42 21.89 20.12 20.88 24.42 42.79 52.66
Dividend Yield		 2.90% 3.05% 3.64% 3.58% 2.11% 2.76% 4.01% 2.68% 2.31% 2.20% 1.50%
Earnings Yield		 0.10% 0.93% 1.63% 2.67% 1.74% 4.57% 4.97% 4.79% 4.09% 2.34% 1.90%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 15.79 14.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 3.79 3.95 4.89 3.94 5.61 4.08 3.77 3.70 4.53 4.44 6.03
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 81.39 45.26 26.40 33.87 58.78 43.11 38.63 39.07 18.58 23.58
Enterprise Value to EBIT (EV/EBIT)		 0.00 112.24 53.36 30.35 38.89 92.15 63.24 55.63 52.80 22.00 27.34
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 122.12 56.54 31.60 41.41 7.55 7.30 7.35 9.88 26.27 33.71
Enterprise Value to Operating Cash Flow (EV/OCF)		 10.30 10.77 13.20 9.66 16.28 10.63 9.65 9.60 12.63 10.73 12.23
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.37 13.48 0.00 0.00 22.28 7.24 2.96 2.84 9.86 14.46 16.18
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.42 -1.62 -1.06 -1.17 -2.00 -2.19 -1.50 -1.82 -3.10 -2.96 -3.92
Leverage Ratio		 1.98 2.37 2.75 3.00 3.00 3.69 5.38 6.09 5.72 5.65 7.46
Compound Leverage Factor		 2.74 3.51 3.88 3.80 3.62 3.22 6.26 7.01 6.42 6.29 8.25
Debt 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%
Short-Term Debt 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%
Long-Term Debt 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%
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		 39.81% 36.81% 38.40% 32.74% 28.76% 16.64% 7.38% 4.22% 10.50% 13.04% 13.24%
Common Equity to Total Capital		 60.19% 63.19% 61.60% 67.26% 71.24% 83.36% 92.62% 95.78% 89.50% 86.96% 86.76%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 3.53 3.46 3.35 3.02 5.12 2.94 2.97 2.92 3.78 3.50 4.14
Noncontrolling Interest Sharing Ratio		 42.59% 40.42% 39.74% 39.07% 36.68% 28.90% 28.51% 22.56% 20.03% 14.98% 11.07%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.63 1.39 1.19 1.13 1.07 1.03 0.85 0.87 0.93 1.01 1.01
Quick Ratio		 1.54 1.31 1.12 1.06 0.98 0.95 0.77 0.81 0.84 0.92 0.93
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 156 176 -432 -461 117 42 641 703 40 168 232
Operating Cash Flow to CapEx		 -120.45% 2,523.62% 2,894.42% 2,580.72% -1,755.65% 4,967.71% 1,388.30% 2,429.07% -766.47% 1,800.22% 3,906.34%
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		 0.58 0.59 0.63 0.67 0.77 0.69 0.75 0.77 0.87 0.72 0.74
Accounts Receivable Turnover		 402.30 723.99 2.08 2.21 1,069.36 1,485.99 2.53 2.65 763.26 739.56 1,197.48
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		 9.37 10.18 10.30 11.26 11.90 12.90 13.89 14.77 15.39 15.50 16.63
Accounts Payable Turnover		 11.57 14.48 16.45 24.29 13.25 11.61 27.97 24.47 20.17 15.30 30.37
Days Sales Outstanding (DSO)		 0.91 0.50 175.59 165.30 0.34 0.25 144.32 137.95 0.48 0.49 0.30
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)		 31.55 25.21 22.20 15.03 27.54 31.43 13.05 14.91 18.09 23.85 12.02
Cash Conversion Cycle (CCC)		 -30.65 -24.71 153.40 150.27 -27.20 -31.19 131.27 123.03 -17.62 -23.36 -11.71
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -278 -354 205 188 -364 -372 -404 -479 -365 -496 -586
Invested Capital Turnover		 -2.72 -2.24 -29.36 -12.11 -2.29 -2.12 -8.05 -5.74 -2.38 -2.08 -1.90
Increase / (Decrease) in Invested Capital		 -137 -160 454 491 -85 -18 -608 -667 -0.98 -124 -183
Enterprise Value (EV)		 2,165 2,424 3,229 2,744 4,122 3,144 3,026 3,093 3,924 3,998 5,682
Market Capitalization		 2,719 3,011 3,190 2,710 4,615 3,714 3,546 3,693 4,437 4,671 6,454
Book Value per Share		 $1.82 $1.55 $1.79 $1.06 $0.93 $1.42 $0.85 $0.91 $1.12 $1.33 $1.39
Tangible Book Value per Share		 $1.26 $0.99 $0.90 $0.50 $0.35 $0.86 $0.29 $0.36 $0.57 $0.84 $0.90
Total Capital		 458 369 269 228 181 238 126 127 166 204 214
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -737 -723 -65 -40 -545 -609 -530 -606 -531 -700 -800
Capital Expenditures (CapEx)		 4.04 3.73 2.78 4.44 2.04 2.75 7.08 5.06 6.17 11 4.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -434 -505 54 40 -507 -590 -636 -702 -574 -695 -795
Debt-free Net Working Capital (DFNWC)		 303 218 119 80 38 19 -107 -96 -44 4.71 4.89
Net Working Capital (NWC)		 303 218 119 80 38 19 -107 -96 -44 4.71 4.89
Net Nonoperating Expense (NNE)		 -8.11 -7.48 -9.77 -8.57 -6.83 -93 -5.79 -1.50 -6.13 -2.44 -6.97
Net Nonoperating Obligations (NNO)		 -737 -723 -65 -40 -545 -609 -530 -606 -531 -700 -800
Total Depreciation and Amortization (D&A)		 3.00 2.35 3.85 4.33 5.16 6.02 6.82 6.46 6.80 13 6.51
Debt-free, Cash-free Net Working Capital to Revenue		 -75.99% -82.32% 8.19% 5.77% -68.91% -76.62% -79.27% -83.99% -66.29% -77.21% -84.38%
Debt-free Net Working Capital to Revenue		 53.04% 35.53% 18.00% 11.54% 5.18% 2.49% -13.27% -11.49% -5.04% 0.52% 0.52%
Net Working Capital to Revenue		 53.04% 35.53% 18.00% 11.54% 5.18% 2.49% -13.27% -11.49% -5.04% 0.52% 0.52%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.34 $0.32 $0.40 $0.52 $0.50 $2.20 $0.52 $0.52 $0.58 $0.66 $0.78
Adjusted Weighted Average Basic Shares Outstanding		 90.10M 90.60M 92.74M 92.89M 93.59M 93.90M 96.00M 93.60M 96.42M 95.97M 99.51M
Adjusted Diluted Earnings per Share		 $0.34 $0.32 $0.40 $0.52 $0.50 $1.70 $0.52 $0.52 $0.58 $0.62 $0.76
Adjusted Weighted Average Diluted Shares Outstanding		 90.88M 91.62M 93.41M 93.51M 95.17M 144.51M 97.52M 95.03M 98.34M 97.81M 101.35M
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		 150.81M 150.63M 144.83M 139.25M 139.40M 136.87M 133.04M 132.93M 133.16M 133.32M 133.64M
Normalized Net Operating Profit after Tax (NOPAT)		 19 11 22 30 31 24 33 36 39 44 49
Normalized NOPAT Margin		 11.69% 6.43% 12.47% 16.07% 15.72% 11.56% 15.52% 16.58% 17.02% 18.32% 19.53%
Pre Tax Income Margin		 17.22% 13.54% 19.02% 20.88% 21.56% -23.85% 20.82% 20.19% 26.56% 23.63% 27.96%
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		 850.25% 250.95% 153.71% 140.14% 130.78% 28.65% 40.14% 26.39% 26.71% 39.59% 34.76%
Augmented Payout Ratio		 1,563.94% 390.61% 317.80% 284.65% 311.66% 149.80% 165.16% 134.27% 99.81% 114.73% 48.66%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Clear Secure, Inc. (NYSE: YOU) based on quarterly data from the last four years, focusing on the latest four quarters and the longer trend in revenue, margins, cash flow, and balance sheet liquidity.

  • Revenue growth with very high gross margins. Q4 2025 Operating Revenue was 240.751M, and Total Gross Profit was 194.304M, implying a gross margin of about 81% for that quarter. This follows a multi-year growth path from 128.253M revenue in Q4 2022 to 240.751M in Q4 2025.
  • Net income momentum and solid EPS. Net income attributable to common shareholders reached 30.762M in Q4 2025, with Basic EPS of 0.66 and Diluted EPS of 0.62, up from 13.98M and 0.58 in Q4 2024. This shows improving profitability per share as the business scales.
  • Strong quarterly operating cash flow recently. Net cash from continuing operating activities was 198.42M in Q4 2025, supported by robust cash generation in adjacent quarters (Q2 2025: 122.98M; Q1 2025: 98.35M).
  • Healthy balance-sheet liquidity and asset base. As of Q3 2025, Cash & Equivalents were 75.76M and Short-Term Investments 454.88M, with Total Current Assets 589.04M and Total Assets 1.125B, indicating substantial liquidity reserves on the books.
  • Longer-term revenue and gross-profit growth trend intact. Over the four-year window, Operating Revenue rose from 170.97M (Q4 2023) to 240.75M (Q4 2025) with a corresponding rise in gross profit, signaling a durable growth trajectory.
  • Current deferred revenue is a large recurring liability. Current Deferred Revenue sits in the high hundreds of millions (e.g., 469.793M in Q3 2025; 438.923M in Q2 2025; 435.497M in Q4 2024), indicating substantial booked revenue yet to be recognized.
  • Investing cash flow is volatile, reflecting the growth program. Net cash from continuing investing activities swings from positive to negative (e.g., Q3 2025 +56.378M vs Q4 2025 -170.070M), driven by acquisitions and investment activity rather than steady capital deployment.
  • Liabilities run ahead of equity in several periods. Total Liabilities have been large relative to Total Equity (e.g., Q3 2025: Liabilities around 959.746M vs Equity around 148.569M), suggesting a leverage profile that investors may want to monitor.
  • Investing cash outflows notable in some quarters. Net cash from continuing investing activities was -170.07M in Q4 2025 (with significant prior outflows in other quarters), which can pressure near-term liquidity if not offset by operating cash flow.
  • Financing cash outflows and equity activity weighed on cash reserves. In several quarters, net cash from continuing financing activities was negative (e.g., Q1 2025 around -171.3M), due to share repurchases and dividends, reducing cash over time.
05/21/26 01:24 PM ETAI Generated. May Contain Errors.

CLEAR Secure Financials - Frequently Asked Questions

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

CLEAR Secure's net income appears to be on an upward trend, with a most recent value of $168.15 million in 2025, falling from -$54.22 million in 2019. The previous period was $225.27 million in 2024. Find out what analysts predict for CLEAR Secure in the coming months.

CLEAR Secure's total operating income in 2025 was $186.48 million, based on the following breakdown:
  • Total Gross Profit: $708.16 million
  • Total Operating Expenses: $521.69 million

Over the last 6 years, CLEAR Secure's total revenue changed from $192.28 million in 2019 to $900.78 million in 2025, a change of 368.5%.

CLEAR Secure's total liabilities were at $1.10 billion at the end of 2025, a 14.8% increase from 2024, and a 633.1% increase since 2020.

In the past 5 years, CLEAR Secure's cash and equivalents has ranged from $38.94 million in 2022 to $280.11 million in 2021, and is currently $85.73 million as of their latest financial filing in 2025.

Over the last 6 years, CLEAR Secure's book value per share changed from 0.00 in 2019 to 1.33 in 2025, a change of 133.5%.


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Financial statements for NYSE:YOU last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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