What is Clearwater Analytics's net debt?

Clearwater Analytics (CWAN) reported net debt of $779.33M in Q1 2026.

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

Clearwater Analytics's net debt increased by 460.7% year-over-year, from -$216.05M to $779.33M.

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

Over 5 years (2020 to 2025), Clearwater Analytics's net debt has grown at a 16.3% compound annual growth rate (CAGR), from $360.74M to $769.09M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Clearwater Analytics CWAN Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cleveland-CliffsCLF

40×—

Armstrong World IndustriesAWI

0.9×-0.1×

LAD

Lithia MotorsLAD

0.4×0.0×

Albertsons CompaniesACI

4.1×+0.4×

Karman Holdings Inc.KRMN

5.9×+2.7×

Pilgrim's Pride CorporationPPC

1.5×+0.9×

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$17.7M-27.9%

CapEx$6.4M+339%

Free cash flow$11.2M-51.2%

Valuation

See full

Market cap$7.22B+8.9%

Enterprise value$8B+25.4%

P/S8.8×-5.2×

Profitability

See full

Gross margin66%-7.0pp

Operating margin-0.7%-4.8pp

Net margin-5.9%-96.0pp

FCF margin18.5%—

Returns & leverage

See full

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.

$860.8Mtotal debt−$81.5Mcash and equivalents=$779.33M

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

Ask your AI about Clearwater Analytics's net debt.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Clearwater Analytics's net debt?: Clearwater Analytics (CWAN) reported net debt of $779.33M in Q1 2026.
How has Clearwater Analytics's net debt changed year-over-year?: Clearwater Analytics's net debt increased by 460.7% year-over-year, from -$216.05M to $779.33M.
What is the long-term trend for Clearwater Analytics's net debt?: Over 5 years (2020 to 2025), Clearwater Analytics's net debt has grown at a 16.3% compound annual growth rate (CAGR), from $360.74M to $769.09M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.