Clearwater Analytics Holdings (CWAN) Operating Margin (2020 - 2026)
Clearwater Analytics Holdings' (CWAN) quarterly Operating Margin came in at 4.06% in Q1 2026, down 152.0% YoY from 7.81% in Q1 2025, and up 231.05% on a QoQ basis from 3.1% in Q4 2025.
Clearwater Analytics Holdings (CWAN) Operating Margin (2020 - 2026) Analysis & Trends
Clearwater Analytics Holdings (CWAN) has 7 years of Operating Margin data on file, last reported at 4.06% in Q1 2026.
- Quarterly Operating Margin fell 152.0% year-over-year to 4.06% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.7% (down 479.0% YoY) and the FY2025 annual result came in at 1.05%, down 376.0% from the prior year.
- Operating Margin improved to 4.06% in Q1 2026, from 3.1% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 6.34% in Q3 2024 to a low of 8.01% in Q2 2025.
- A 5-year average of 0.0% and a median of 1.54% in 2022 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin plunged 1925 bps — and 2024, when it jumped 1255 bps.
- Tracing CWAN's Operating Margin over 5 years: stood at 4.69% in 2022, then plunged by 44 bps to 2.62% in 2023, then sank by 63 bps to 0.96% in 2024, then sank by 422 bps to 3.1% in 2025, then surged by 231 bps to 4.06% in 2026.
- The last three Operating Margin figures came in at 4.06% (Q1 2026), 3.1% (Q4 2025), and 3.2% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 27.70% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 13.62% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 21.08% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 13.32% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 4.06% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -23.45% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | -33.33% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 33.82% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 46.97% |
| 10 | Clearwater Analytics Holdings | 7.30 Bn | 7.22 Bn | 145.55 Mn | 4.06% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 4.06% |
| Dec 31, 2025 | -3.10% |
| Sep 30, 2025 | 3.20% |
| Jun 30, 2025 | -8.01% |
| Mar 31, 2025 | 5.58% |
| Dec 31, 2024 | 0.96% |
| Sep 30, 2024 | 6.34% |
| Jun 30, 2024 | 3.60% |
| Mar 31, 2024 | -0.16% |
| Dec 31, 2023 | 2.62% |
| Sep 30, 2023 | -6.22% |
| Jun 30, 2023 | -7.93% |
| Mar 31, 2023 | -7.47% |
| Dec 31, 2022 | 4.69% |
| Sep 30, 2022 | -1.52% |
| Jun 30, 2022 | 1.54% |
| Mar 31, 2022 | 1.81% |
| Dec 31, 2021 | 0.94% |
| Sep 30, 2021 | 11.26% |
| Jun 30, 2021 | 14.06% |