What is Clearwater Analytics's debt-to-assets?

Clearwater Analytics (CWAN) reported debt-to-assets of 0.3× in Q1 2026.

How has Clearwater Analytics's debt-to-assets changed year-over-year?

Clearwater Analytics's debt-to-assets increased by 446.9% year-over-year, from 0.1× to 0.3×.

What is the long-term trend for Clearwater Analytics's debt-to-assets?

Over 5 years (2020 to 2025), Clearwater Analytics's debt-to-assets has grown at a -40.0% compound annual growth rate (CAGR), from 3.7× to 0.3×.

What does debt-to-assets mean?

Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.

Clearwater Analytics CWAN Debt-to-assets

Debt-to-assets at other companies

Northern TrustNTRS

0×0.0×

State StreetSTT

0.1×0.0×

SS&C TechnologiesSSNC

0.4×0.0×

BlackrockBLK

0.1×0.0×

SnowflakeSNOW

0.1×0.0×

MicroStrategyMSTR

0.2×0.0×

Other financials

Income statement

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Revenue$221.2M+74.4%

Gross profit$145.5M+56.6%

Operating income$9.0M+26.9%

Net income-$2.8M-143%

EPS (diluted)-$0.01-133%

Balance sheet

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Cash & equivalents$81.5M-71.2%

Total debt$860.8M+1,189%

Total equity$2.0B+83.7%

Total assets$3.0B+135%

Cash flow

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Operating cash flow$17.7M-27.9%

CapEx$6.4M+339%

Free cash flow$11.2M-51.2%

Valuation

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Market cap$7.22B+8.9%

Enterprise value$8B+25.4%

P/S8.8×-5.2×

Profitability

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Gross margin66%-7.0pp

Operating margin-0.7%-4.8pp

Net margin-5.9%-96.0pp

FCF margin18.5%—

Returns & leverage

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Return on equity-3.1%-59.4pp

Debt / equity0.4×+0.4×

Current ratio2.3×-2.8×

Where this comes from

Calculated from Clearwater Analytics’s reported figures.

total debt/total assets=0.3×

Based on the most recent quarter.

The official record: Clearwater Analytics’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Clearwater Analytics's debt-to-assets?: Clearwater Analytics (CWAN) reported debt-to-assets of 0.3× in Q1 2026.
How has Clearwater Analytics's debt-to-assets changed year-over-year?: Clearwater Analytics's debt-to-assets increased by 446.9% year-over-year, from 0.1× to 0.3×.
What is the long-term trend for Clearwater Analytics's debt-to-assets?: Over 5 years (2020 to 2025), Clearwater Analytics's debt-to-assets has grown at a -40.0% compound annual growth rate (CAGR), from 3.7× to 0.3×.
What does debt-to-assets mean?: Total debt divided by total assets at the quarter end. Measures the share of the asset base financed by debt.