Clearwater Analytics Holdings (CWAN) FCF Margin (2020 - 2026)
Clearwater Analytics Holdings (CWAN) recorded FCF Margin of 5.08% in Q1 2026, down 13.08 percentage points from 18.15% a year earlier and down 18.97 percentage points from the prior quarter.
Powered by 
Analysis
Clearwater Analytics Holdings (CWAN) FCF Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Clearwater Analytics Holdings' FCF Margin came in at 18.47% as of Mar 31, 2026, up 0.93 percentage points year-over-year; for FY2025, it came in at 22.47%, up 7.18 percentage points from FY2024.
- Annual FCF Margin has a five-year change of +27.53 percentage points (FY2020 to FY2025).
- Across earlier years, FCF Margin came in at 15.29% in FY2024 (-6.17 pp), 21.45% in FY2023 (+4.89 pp), 16.56% in FY2022 (+17.22 pp) and -0.66% in FY2021 (+4.40 pp).
- The Q1 2026 figure is the lowest quarterly FCF Margin since Q4 2024.
- On a year-over-year basis, FCF Margin rose in four of the last eight quarters, with an average year-over-year change of -1.25 percentage points.
- Peak year-over-year performance for FCF Margin in the last five years was a gain of 76.21 percentage points in Q4 2021, against a drop of 46.50 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 24.05% (Q4 2025), 21.90% (Q3 2025) and 24.24% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 62.08% |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | -27.89% |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | 33.09% |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 9.68% |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 11.86% |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | 24.76% |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 29.95% |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | -4.83% |
| 10 | Clearwater Analytics Holdings | 7.30 Bn | 7.00 Bn | 145.55 Mn | 5.08% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 5.08% |
| Dec 31, 2025 | 24.05% |
| Sep 30, 2025 | 21.90% |
| Jun 30, 2025 | 24.24% |
| Mar 31, 2025 | 18.15% |
| Dec 31, 2024 | -23.74% |
| Sep 30, 2024 | 41.50% |
| Jun 30, 2024 | 39.72% |
| Mar 31, 2024 | 8.37% |
| Dec 31, 2023 | 22.76% |
| Sep 30, 2023 | 32.39% |
| Jun 30, 2023 | 21.76% |
| Mar 31, 2023 | 7.35% |
| Dec 31, 2022 | 19.69% |
| Sep 30, 2022 | 16.68% |
| Jun 30, 2022 | 22.49% |
| Mar 31, 2022 | 6.62% |
| Dec 31, 2021 | 15.61% |
| Sep 30, 2021 | 9.34% |
| Jun 30, 2021 | 1.80% |
API Access
Clearwater Analytics Holdings FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=CWAN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "CWAN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=CWAN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();