FLYW vs CWAN vs ALKT vs NCNO

For growth investors, Clearwater Analytics Holdings, Inc.

(CWAN) is the stronger pick with 61. 9% revenue growth year-over-year, versus 13. 5% for nCino, Inc. (NCNO). Flywire Corporation (FLYW) offers the better valuation at 161. 2x trailing P/E (49. 5x forward), making it the more compelling value choice. Analysts rate Flywire Corporation (FLYW) a "Buy" — based on 19 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.

On forward P/E, nCino, Inc.

is actually cheaper at 19. 6x — notably different from the trailing picture, reflecting expected earnings growth.

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

(CWAN) delivered a total return of -4. 3%, compared to -68. 6% for nCino, Inc. (NCNO). Over 10 years, the gap is even starker: CWAN returned -4. 3% versus NCNO's -80. 6%. 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. 80β versus Flywire Corporation's 1. 32β — meaning FLYW is approximately 65% more volatile than CWAN relative to the S&P 500. On balance sheet safety, nCino, Inc. (NCNO) carries a lower debt/equity ratio of 22% versus 98% for Alkami Technology, 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 13. 5% for nCino, Inc. (NCNO). On earnings-per-share growth, the picture is similar: Flywire Corporation grew EPS 391. 1% 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.

Flywire Corporation (FLYW) is the more profitable company, earning 2.

2% net margin versus -10. 7% for Alkami Technology, Inc. — meaning it keeps 2. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CWAN leads at 3. 8% versus -12. 1% for ALKT. 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, nCino, Inc.

(NCNO) trades at 19. 6x forward P/E versus 49. 5x for Flywire Corporation — 29. 9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NCNO: 81. 8% to $32. 33.

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. 80)). Both have compounded well over 10 years (CWAN: -4. 3%, FLYW: -49. 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: FLYW is a small-cap high-growth stock; CWAN is a small-cap high-growth stock; ALKT is a small-cap high-growth stock; NCNO is a small-cap quality compounder 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.