Where do Clear Secure's ratios come from?

Every ratio is computed from Clear Secure's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Clear Secure YOU Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Operating margin	22.4%+5.3pp	20.7%+4.7pp	19.2%+5.0pp	17.8%+5.1pp	17.1%+8.1pp
Net margin	13%-9.0pp	12.1%-9.9pp	21%+10.0pp	21.2%+10.8pp	22%+14.1pp
Returns
Return on equity	81.2%-43.6pp	58.1%-20.6pp	130.9%+91.2pp	128.7%+94.3pp	124.8%+102pp
Return on invested capital	125.5%+51.4pp	67.5%+22.5pp	83.4%+45.4pp	78.5%—	74.1%—
Efficiency
Asset turnover	0.7×0.0×	0.7×0.0×	0.9×+0.1×	0.8×+0.1×	0.8×+0.1×
Liquidity
Current ratio	1×+0.2×	1×0.0×	0.9×-0.1×	0.9×-0.3×	0.8×-0.3×
Leverage
Debt-to-equity	0.6×-0.4×	0.6×0.0×	0.8×-0.2×	0.9×+0.1×	1×+0.3×
Net debt / EBITDA	-0.3×-0.4×	0.1×-0.2×	0.2×-0.5×	0.1×—	0.2×—
Per Share
Book value per share	$1.83+52.2%	$1.83+8.8%	$1.52+11.0%	$1.29-22.5%	$1.21-32.8%
Valuation
Market capitalization	$4.81B+91.7%	$3.43B+35.7%	$3.2B+4.0%	$2.47B+42.5%	$2.51B+27.1%
Price / earnings	39.2×+25.0×	31.4×+16.5×	17.6×-20.7×	14×-10.0×	14.2×—
Price / sales	5.1×+2.0×	3.8×+0.5×	3.7×-0.5×	3×+0.5×	3.1×+0.1×
Price / book	25.9×+4.4×	19.3×+6.6×	21.5×-2.3×	20.4×+9.1×	21.5×+9.6×
EV / EBITDA	19.3×+3.8×	15.6×-1.6×	16.6×-7.6×	14.1×—	15.5×—
Dividend yield	1.1%-0.6pp	1.4%-0.2pp	1.5%+0.3pp	1.8%0.0pp	1.7%—

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Questions, answered.

Where do Clear Secure's ratios come from?: Every ratio is computed from Clear Secure's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.