YOU TechnologyBeta data

Clear Secure, Inc.

$47.76-0.40%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: United States
Market cap: 6.5B USD
Enterprise value: 4.3B USD
Full-time employees: 3,301

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.04 vs a peer median of 1.83)higher risk: less liquidity (current ratio 1.04 vs peers 1.83)

Ranks #319 of 1,612 technology companies (top 20%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 21% in 2025, the best of the last 6 years.
Clear Secure kept 21% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Cash flow well above reported profit. Free cash flow is 2.5× reported profit.
Free cash flow is 2.5× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $231M in 2020 to $901M in 2025.
Clear Secure's fiscal-year revenue rose in each of the five years to 2025, from $231M to $901M.
Wide margins. Operating margin 25% (fiscal year to Dec 2025) vs a peer median of 6.3%.Operating margin 25% (fiscal year to Dec 2025) vs peers 6.3%.
Clear Secure keeps 25% of revenue as operating profit, more than 91% of peers (median 6.3%).

StockQuotient Score

66/ 100▼ 1 since Oct 27 close

Oct 5 68 → Nov 4 66 (-2)

Fundamentals: Yahoo Finance, not primary filings

Valuation

Is the price right?

68/100

Moderate▼ 5 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 73 → 68

Share price +4.9%-2
Company's reported figures updated-1
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield3.1%

Yahoo Finance · trailing 12 monthsReported value30% base weight · Z-score 0.38Sector median: 0.0225 · MAD: 0.0225

EBITDA yield6.4%

Yahoo Finance · trailing 12 monthsReported value50% base weight · Z-score 0.60Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield7.8%

Yahoo Finance · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 1.86Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield3.8%

Yahoo FinanceOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

69/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 6.2%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-26.9%

Yahoo Finance · fiscal year to Dec 2025Reported value33% base weight · Z-score -1.25Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth23.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 2.40Sector median: 0.0483 · MAD: 0.0793

Revenue growth19.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.11Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

97/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.7 points to 25.1%

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin25.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.65Sector median: 0.0631 · MAD: 0.0710

Return on assets13.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.81Sector median: 0.0293 · MAD: 0.0362

Return on invested capital254.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 6.00Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin66.7%

Yahoo Finance · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity119.2%

Yahoo Finance · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.02

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.40Sector median: 0.8710 · MAD: 0.3700

Current ratio1.04×

Yahoo FinanceReported value33% base weight · Z-score -1.15Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.45×

Yahoo FinanceReported value33% base weight · Z-score -0.89Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Clear Secure

Is Clear Secure getting weaker?: Its latest SEC filing (Aug 5, 2026) got stronger: operating margin rose 2.7 points to 25.1%. Its overall score is 66/100, down 1 since Oct 28, 2026.
How is Clear Secure valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,711 technology peers. Free cash flow yield 7.8% vs a peer median of 2.7% (stronger than 81% of peers).Free cash flow yield 7.8% vs peers 2.7% (stronger than 81% of peers).
Is Clear Secure growing?: Yes, faster than most of its peers. Growth scores 69/100 against 1,711 technology peers. 3-year revenue growth 23.9% vs a peer median of 4.8% (stronger than 90% of peers).3-year revenue growth 23.9% vs peers 4.8% (stronger than 90% of peers). Earnings per share growth -26.9% vs a peer median of 11.1% (weaker than 82% of peers).Earnings per share growth -26.9% vs peers 11.1% (weaker than 82% of peers).
How profitable is Clear Secure?: More profitable than most of its peers. Profitability scores 97/100 against 1,711 technology peers. Return on invested capital 254.6% vs a peer median of 6.8% (stronger than 95% of peers).Return on invested capital 254.6% vs peers 6.8% (stronger than 95% of peers).
How risky is Clear Secure?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.04× vs a peer median of 1.83× (weaker than 87% of peers).Current ratio 1.04× vs peers 1.83× (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 2.7 points to 25.1%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	942.4M USD	1.0B USD	+6.2%
Net income (12 months)	181.5M USD	206.9M USD	+14.0%
Operating margin	22.4%	25.1%	+2.7 pts
Free cash flow (12 months)	437.3M USD	508.4M USD	+16.2%
Cash	170.7M USD	128.2M USD	−24.9%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Application · 81 companies

Valuations in Software - Application are near the bottom of their range since 2016.

6% of months since 2016 were valued lower than now.
8% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −16% and earnings +31% (medians): earnings grew faster than prices.
Median price-to-sales is +85% vs the whole market, against a usual +235%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-45.3%	-29.5%	3.3%	16.0%	20.7%	▲ 4.7 pts
Net margin	-14.2%	-15.0%	4.6%	22.0%	12.1%	▼ 9.9 pts
Return on assets (ROA)	-4.4%	-6.3%	2.7%	14.2%	8.4%	▼ 5.8 pts
Return on equity (ROE)	-13.0%	-22.5%	12.0%	85.5%	61.4%	▼ 24 pts
Free cash flow margin	16.4%	31.3%	32.5%	36.8%	38.1%	▲ 1.3 pts
Current ratio	2.47×	1.87×	1.39×	1.03×	1.01×	▼ 2.3%

YOU price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.04 vs a peer median of 1.83)higher risk: less liquidity (current ratio 1.04 vs peers 1.83)

Ranks #319 of 1,612 technology companies (top 20%)

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year high. 21% in 2025, the best of the last 6 years.

Clear Secure kept 21% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Cash flow well above reported profit. Free cash flow is 2.5× reported profit.

Free cash flow is 2.5× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $231M in 2020 to $901M in 2025.

Clear Secure's fiscal-year revenue rose in each of the five years to 2025, from $231M to $901M.

Wide margins. Operating margin 25% (fiscal year to Dec 2025) vs a peer median of 6.3%.Operating margin 25% (fiscal year to Dec 2025) vs peers 6.3%.

Clear Secure keeps 25% of revenue as operating profit, more than 91% of peers (median 6.3%).

Questions investors ask about Clear Secure

Is Clear Secure getting weaker?

Its latest SEC filing (Aug 5, 2026) got stronger: operating margin rose 2.7 points to 25.1%. Its overall score is 66/100, down 1 since Oct 28, 2026.

How is Clear Secure valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,711 technology peers. Free cash flow yield 7.8% vs a peer median of 2.7% (stronger than 81% of peers).Free cash flow yield 7.8% vs peers 2.7% (stronger than 81% of peers).

Is Clear Secure growing?

Yes, faster than most of its peers. Growth scores 69/100 against 1,711 technology peers. 3-year revenue growth 23.9% vs a peer median of 4.8% (stronger than 90% of peers).3-year revenue growth 23.9% vs peers 4.8% (stronger than 90% of peers). Earnings per share growth -26.9% vs a peer median of 11.1% (weaker than 82% of peers).Earnings per share growth -26.9% vs peers 11.1% (weaker than 82% of peers).

How profitable is Clear Secure?

More profitable than most of its peers. Profitability scores 97/100 against 1,711 technology peers. Return on invested capital 254.6% vs a peer median of 6.8% (stronger than 95% of peers).Return on invested capital 254.6% vs peers 6.8% (stronger than 95% of peers).

How risky is Clear Secure?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 1.04× vs a peer median of 1.83× (weaker than 87% of peers).Current ratio 1.04× vs peers 1.83× (weaker than 87% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

942.4M USD

1.0B USD

+6.2%

Net income (12 months)

181.5M USD

206.9M USD

+14.0%

Operating margin

22.4%

25.1%

+2.7 pts

Free cash flow (12 months)

437.3M USD

508.4M USD

+16.2%

Cash

170.7M USD

128.2M USD

−24.9%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-45.3%

-29.5%

3.3%

16.0%

20.7%

▲ 4.7 pts

Net margin

-14.2%

-15.0%

4.6%

22.0%

12.1%

▼ 9.9 pts

Return on assets (ROA)

-4.4%

-6.3%

2.7%

14.2%

8.4%

▼ 5.8 pts

Return on equity (ROE)

-13.0%

-22.5%

12.0%

85.5%

61.4%

▼ 24 pts

Free cash flow margin

16.4%

31.3%

32.5%

36.8%

38.1%

▲ 1.3 pts

Current ratio

2.47×

1.87×

1.39×

1.03×

1.01×

▼ 2.3%