EXFY vs CWAN

For growth investors, Clearwater Analytics Holdings, Inc.

(CWAN) is the stronger pick with 61. 9% revenue growth year-over-year, versus 2. 1% for Expensify, Inc. (EXFY). Analysts rate Expensify, Inc. (EXFY) a "Buy" — based on 9 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

Over the past 5 years, Clearwater Analytics Holdings, Inc.

(CWAN) delivered a total return of -4. 3%, compared to -97. 3% for Expensify, Inc. (EXFY). Over 10 years, the gap is even starker: CWAN returned -4. 0% versus EXFY's -97. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Clearwater Analytics Holdings, Inc.

(CWAN) is the lower-risk stock at 0. 79β versus Expensify, Inc. 's 0. 93β — meaning EXFY is approximately 17% more volatile than CWAN relative to the S&P 500. On balance sheet safety, Expensify, Inc. (EXFY) carries a lower debt/equity ratio of 4% versus 43% for Clearwater Analytics Holdings, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Clearwater Analytics Holdings, Inc.

(CWAN) is pulling ahead at 61. 9% versus 2. 1% for Expensify, Inc. (EXFY). On earnings-per-share growth, the picture is similar: Expensify, Inc. grew EPS -91. 7% year-over-year, compared to -108. 3% for Clearwater Analytics Holdings, Inc.. Over a 3-year CAGR, CWAN leads at 34. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Clearwater Analytics Holdings, Inc.

(CWAN) is the more profitable company, earning -5. 3% net margin versus -15. 1% for Expensify, Inc. — meaning it keeps -5. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CWAN leads at 3. 8% versus -12. 7% for EXFY. At the gross margin level — before operating expenses — CWAN leads at 67. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Expensify, Inc.

(EXFY) trades at 17. 1x forward P/E versus 34. 7x for Clearwater Analytics Holdings, Inc. — 17. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for EXFY: 1138. 7% to $13. 75.

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

For long-horizon retirement investors, Clearwater Analytics Holdings, Inc.

(CWAN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 79)). Both have compounded well over 10 years (CWAN: -4. 0%, EXFY: -97. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: EXFY is a small-cap quality compounder stock; CWAN is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.