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Clear Secure, Inc. (the Company or CLEAR ) is a secure identity company making experiences safer and easier - both digitally and physically. We make everyday experiences frictionless by connecting your identity to all the things that make you, YOU - transforming the way you live, work, and travel.
$56.78
$0.65 (-1.13%)
Price from 3 days ago
Margins and capital returns are both well above average: 20.70% operating margin, ROIC at 48.73%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 16.9% YoY with margins expanding 4.7pp.
At 46x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
45.8x earnings, 13.1x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$942M
▲ +16.9% YoY
Net Income (TTM)
$109M
▼ -35.7% YoY
Op. Margin
22.40%
▲ +4.7pp YoY
ROIC
60.53%
▲ +20.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$437M
▲ +21.0% YoY
Op. Cash Flow (TTM)
$464M
▲ +26.0% YoY
Net Debt
-$689M
Net Cash Position
Cash & Equiv.
$800M
5Y CAGR: +31.3%
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