Clearwater Analytics Holdings, Inc. CWAN
Fintech Vertical SaaS Enterprise Software Data & Analytics B2B SaaS Financial Services High Growth SaaS Top 10 SaaS

Clearwater Analytics Holdings, Inc. trades at 7.4x EV/NTM revenue on a $7.25B enterprise value. Revenue grew 74.4% year over year to $221.2M in the quarter ending March 2026, an annual run rate of $884.0M. Clearwater Analytics Holdings, Inc. reports net dollar retention of 108%, a 65.8% gross margin, and 4.9-month CAC payback.

ARR ($M)
884
Net Dollar Retention
108%
ARR Growth
74.4%
EV / NTM Revenue
7.4x
Payback Period
4.9
EV / Run Rate
8.2x
Price & Key Metrics
Price Performance
Company Details
Share Price: 24.56
Last Filing Date: 2026-03-31
Fiscal Year End: 12-31
Last Filing: Form
Founding Year: 2004
IPO Year: 2021
% of 52 wk High: 100%
Description
Clearwater brings transparency to the opaque world of investment accounting and analytics. its cloud-native software allows clients to radically simplify their investment accounting operations, enabling them to focus on higher-value business functions such as asset allocation strategy and investment selection. Its platform provides comprehensive accounting, data and advanced analytics as well as highly-configurable reporting for global investment assets daily or on-demand, instead of weekly or monthly.
Reporting Notes
Categories
Fintech Vertical SaaS Enterprise Software Data & Analytics B2B SaaS Financial Services High Growth SaaS Top 10 SaaS
Valuation
Market Cap: 7,330.872
Enterprise Value: 7,249.365
EV / Revenue Run Rate: 8.2x
EV / NTM Revenue: 7.4x
EV / 2026 Revenue Estimates: 7.6x
EV / 2027 Revenue Estimates: 6.5x
EV / 2028 Revenue Estimates: 5.8x
Key Business Metrics
Net Dollar Retention: 108%
Customers: --
ARR: 884
ARR Growth %: 74%
ARR/Customer ($K): --
ARR/Employee ($K): 294
Revenue
Revenue Run Rate: 884
ARR: 884
2026 Revenue Estimates: 951
2027 Revenue Estimates: 1,113
2028 Revenue Estimates: 1,254
LTM Revenue: 825
Last Year Run Rate: 507
Growth
Revenue Growth: 74%
ARR Growth: 74%
Growth Persistence: 316%
2026 Revenue Growth Estimates: 30%
2027 Revenue Growth Estimates: 17%
2028 Revenue Growth Estimates: 13%
High Growth SaaS Matrix
Annual Run Rate ($) Revenue Growth Gross Margin Net Dollar Retention LTM CAC Payback Period (months) Rule of 40 (LTM FCF)
Best-in-class
90th Percentile 		 
12,008.0
  		✓
74%
  		 
84%
  		 
129%
  		✓
10.23
  		✓
92%
 
Great
75th Percentile 		 
4,485.0
  		 
48%
  		 
76%
  		 
125%
  		 
14.1
  		 
66%
 
Average
50th Percentile 		 
1,709.0
  		 
37%
  		 
69%
  		 
119%
  		 
24.24
  		 
56%
 
Below Average
25th Percentile 		✓
851.0
  		 
33%
  		✓
64%
  		 
114%
✓ 		 
28.86
  		 
46%
 
✓  
Clearwater Analytics Holdings, Inc. 		 
884 		 
74% 		 
66% 		 
108% 		 
4.89 		 
93%
Financials
Quarterly
Calendar Year
Frequently Asked Questions

How fast is Clearwater Analytics Holdings, Inc. growing?

Clearwater Analytics Holdings, Inc. grew revenue 74.4% year over year, reaching $221.2M in the quarter ending March 2026.

What multiple does Clearwater Analytics Holdings, Inc. trade at?

Clearwater Analytics Holdings, Inc. trades at 7.4x EV/NTM revenue and 8.2x EV/run-rate, on an enterprise value of $7.25B.

Is Clearwater Analytics Holdings, Inc. profitable?

For Clearwater Analytics Holdings, Inc. , operating income was $9.0M last quarter and LTM free cash flow margin is 18.4%.

What is Clearwater Analytics Holdings, Inc. 's net dollar retention?

Clearwater Analytics Holdings, Inc. reports net dollar retention of 108%, measuring revenue expansion within its existing customer base.

How long does it take Clearwater Analytics Holdings, Inc. to pay back CAC?

Clearwater Analytics Holdings, Inc. recovers customer acquisition cost in about 4.9 months.

What sector is Clearwater Analytics Holdings, Inc. in?

Public Comps classifies Clearwater Analytics Holdings, Inc. under Fintech, Vertical SaaS, Enterprise Software, Data & Analytics, B2B SaaS, Financial Services, High Growth SaaS, and Top 10 SaaS.

Where does Public Comps get Clearwater Analytics Holdings, Inc. 's data?

Figures come from Clearwater Analytics Holdings, Inc. 's own SEC filings, normalised into a consistent quarterly format and refreshed after each earnings release.