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Clearwater Analytics describes its mission as aiming to be the world’s most trusted and comprehensive technology platform for the entire investment cycle. Clearwater has historically focused on back-office functions such as investment accounting, but with acquisitions such Enfusion, Beacon, and Bistro, the firm has broadened its focus with front-office and middle-office capabilities. Clearwater primarily serves insurance companies, asset managers, hedge funds, and corporate treasuries. Pro forma for Enfusion, about 76% of Clearwater’s revenue is generated in the US.
2021
1.9K+
LTM Revenue $636M
LTM EBITDA $205M
$7.2B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Clearwater Analytics has a last 12-month revenue (LTM) of $636M and a last 12-month EBITDA of $205M.
In the most recent fiscal year, Clearwater Analytics achieved revenue of $452M and an EBITDA of $24.4M.
Clearwater Analytics expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Clearwater Analytics valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $636M | XXX | $452M | XXX | XXX | XXX |
| Gross Profit | $478M | XXX | $329M | XXX | XXX | XXX |
| Gross Margin | 75% | XXX | 73% | XXX | XXX | XXX |
| EBITDA | $205M | XXX | $24.4M | XXX | XXX | XXX |
| EBITDA Margin | 32% | XXX | 5% | XXX | XXX | XXX |
| EBIT | $162M | XXX | $12.2M | XXX | XXX | XXX |
| EBIT Margin | 26% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $146M | XXX | $424M | XXX | XXX | XXX |
| Net Margin | 23% | XXX | 94% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of August 29, 2025, Clearwater Analytics's stock price is $22.
Clearwater Analytics has current market cap of $6.4B, and EV of $7.2B.
See Clearwater Analytics trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7.2B | $6.4B | XXX | XXX | XXX | XXX | $0.53 |
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Start Free TrialAs of August 29, 2025, Clearwater Analytics has market cap of $6.4B and EV of $7.2B.
Clearwater Analytics's trades at 16.0x EV/Revenue multiple, and 296.2x EV/EBITDA.
Equity research analysts estimate Clearwater Analytics's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Clearwater Analytics has a P/E ratio of 43.6x.
See valuation multiples for Clearwater Analytics and 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $6.4B | XXX | $6.4B | XXX | XXX | XXX |
| EV (current) | $7.2B | XXX | $7.2B | XXX | XXX | XXX |
| EV/Revenue | 11.4x | XXX | 16.0x | XXX | XXX | XXX |
| EV/EBITDA | 35.2x | XXX | 296.2x | XXX | XXX | XXX |
| EV/EBIT | 44.5x | XXX | 591.1x | XXX | XXX | XXX |
| EV/Gross Profit | 15.1x | XXX | n/a | XXX | XXX | XXX |
| P/E | 43.6x | XXX | 15.0x | XXX | XXX | XXX |
| EV/FCF | 51.4x | XXX | 104.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialClearwater Analytics's last 12 month revenue growth is 38%
Clearwater Analytics's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Clearwater Analytics's rule of 40 is 36% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Clearwater Analytics's rule of X is 127% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Clearwater Analytics and other 15K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 38% | XXX | 45% | XXX | XXX | XXX |
| EBITDA Margin | 32% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Growth | 41% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | 36% | XXX | 43% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 127% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 15% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 33% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 70% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Credit Clear | XXX | XXX | XXX | XXX | XXX | XXX |
| IODM | XXX | XXX | XXX | XXX | XXX | XXX |
| Reckon | XXX | XXX | XXX | XXX | XXX | XXX |
| Xero | XXX | XXX | XXX | XXX | XXX | XXX |
| Zaggle | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Clearwater Analytics acquired XXX companies to date.
Last acquisition by Clearwater Analytics was XXXXXXXX, XXXXX XXXXX XXXXXX . Clearwater Analytics acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 65K+ M&A deals.
Start Free Trial| When was Clearwater Analytics founded? | Clearwater Analytics was founded in 2021. |
| Where is Clearwater Analytics headquartered? | Clearwater Analytics is headquartered in United States of America. |
| How many employees does Clearwater Analytics have? | As of today, Clearwater Analytics has 1.9K+ employees. |
| Who is the CEO of Clearwater Analytics? | Clearwater Analytics's CEO is Mr. Sandeep Sahai. |
| Is Clearwater Analytics publicy listed? | Yes, Clearwater Analytics is a public company listed on NYS. |
| What is the stock symbol of Clearwater Analytics? | Clearwater Analytics trades under CWAN ticker. |
| When did Clearwater Analytics go public? | Clearwater Analytics went public in 2021. |
| Who are competitors of Clearwater Analytics? | Similar companies to Clearwater Analytics include e.g. Credit Clear, IODM, Reckon, Xero. |
| What is the current market cap of Clearwater Analytics? | Clearwater Analytics's current market cap is $6.4B |
| What is the current revenue of Clearwater Analytics? | Clearwater Analytics's last 12 months revenue is $636M. |
| What is the current revenue growth of Clearwater Analytics? | Clearwater Analytics revenue growth (NTM/LTM) is 38%. |
| What is the current EV/Revenue multiple of Clearwater Analytics? | Current revenue multiple of Clearwater Analytics is 11.4x. |
| Is Clearwater Analytics profitable? | Yes, Clearwater Analytics is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Clearwater Analytics? | Clearwater Analytics's last 12 months EBITDA is $205M. |
| What is Clearwater Analytics's EBITDA margin? | Clearwater Analytics's last 12 months EBITDA margin is 32%. |
| What is the current EV/EBITDA multiple of Clearwater Analytics? | Current EBITDA multiple of Clearwater Analytics is 35.2x. |
| What is the current FCF of Clearwater Analytics? | Clearwater Analytics's last 12 months FCF is $141M. |
| What is Clearwater Analytics's FCF margin? | Clearwater Analytics's last 12 months FCF margin is 22%. |
| What is the current EV/FCF multiple of Clearwater Analytics? | Current FCF multiple of Clearwater Analytics is 51.4x. |
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