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Clear Secure, Inc. (YOU) 10-Year Financial Performance & Capital Metrics

YOU • • Industrial / General
TechnologyApplication SoftwareSecurity & Identity ManagementBiometric Security
AboutClear Secure, Inc. provides a member-centric secure identity platform in the United States. The company's secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking. It also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR app, a consumer-facing digital product that facilitates new user enrollment and member engagement from their mobile device. In addition, the company provides Reserve powered by CLEAR, a virtual queuing technology that provides users with the choice of how they queue either at home or on the move; and Atlas Certified, an automated solution to verify professional licenses and certification data across industries by communicating with certifying organizations for on-demand, current, and trusted data. The company was founded in 2010 and is headquartered in New York, New York.Show more
  • Revenue $770M +25.6%
  • EBITDA $150M +258.2%
  • Net Income $170M +503.7%
  • EPS (Diluted) 1.56 +403.2%
  • Gross Margin 63.51% +2.0%
  • EBITDA Margin 19.43% +185.2%
  • Operating Margin 15.99% +387.1%
  • Net Margin 22.02% +380.7%
  • ROE 55.89% +775.1%
  • ROIC 25.28% +771.0%
  • Debt/Equity 0.51 +47.7%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 36.8% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 32.0%
  • ✓Good 3Y average ROE of 16.6%

✗Weaknesses

  • ✗Shares diluted 57.7% in last year
  • ✗Expensive at 20.7x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y32%
3Y44.77%
TTM17.83%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM126.08%

EPS CAGR

10Y-
5Y-
3Y-
TTM95.35%

ROCE

10Y Avg-13.78%
5Y Avg-9.3%
3Y Avg1.8%
Latest23.58%

Peer Comparison

Biometric Security
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MITKMitek Systems, Inc.461.54M10.09146.02-0.27%8.71%6.53%6.55%0.70
RDVTRed Violet, Inc.722.44M51.28102.5624.89%12.96%11.01%3.29%0.02
YOUClear Secure, Inc.3.33B34.1321.8825.57%20.97%109.45%8.53%0.51
IDAIT Stamp Inc.21.71M4.14-0.36-32.41%-316.35%-189.51%1.30
AWREAware, Inc.40.82M1.91-9.10-4.69%-32.18%-20.59%0.14
SSTISoundThinking, Inc.102.1M8.04-11.1710.05%-10.44%-14.59%15.46%0.08
RSKDRiskified Ltd.775.98M4.73-23.6510.05%-11.04%-11.83%5.03%0.07
IDNIntellicheck, Inc.122.24M6.05-127.375.77%0.95%1.11%

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+192.28M230.8M253.95M437.43M613.58M770.49M
Revenue Growth %-0.2%0.1%0.72%0.4%0.26%
Cost of Goods Sold+92.32M73.72M104.94M161.05M231.47M281.15M
COGS % of Revenue0.48%0.32%0.41%0.37%0.38%0.36%
Gross Profit+99.97M157.08M149.02M276.38M382.11M489.34M
Gross Margin %0.52%0.68%0.59%0.63%0.62%0.64%
Gross Profit Growth %-0.57%-0.05%0.85%0.38%0.28%
Operating Expenses+156.13M176.01M263.95M405.44M361.97M366.15M
OpEx % of Revenue0.81%0.76%1.04%0.93%0.59%0.48%
Selling, General & Admin127.59M134.55M204.1M319.85M265.88M266.31M
SG&A % of Revenue0.66%0.58%0.8%0.73%0.43%0.35%
Research & Development21.22M32.04M47.49M66.8M74.44M73.35M
R&D % of Revenue0.11%0.14%0.19%0.15%0.12%0.1%
Other Operating Expenses7.32M9.42M12.36M18.79M21.65M26.48M
Operating Income+-56.16M-18.93M-114.93M-129.06M20.14M123.19M
Operating Margin %-0.29%-0.08%-0.45%-0.3%0.03%0.16%
Operating Income Growth %-0.66%-5.07%-0.12%1.16%5.12%
EBITDA+-48.85M-9.51M-102.58M-110.27M41.79M149.67M
EBITDA Margin %-0.25%-0.04%-0.4%-0.25%0.07%0.19%
EBITDA Growth %-0.81%-9.79%-0.08%1.38%2.58%
D&A (Non-Cash Add-back)7.32M9.42M12.36M18.79M21.65M26.48M
EBIT-56.16M-18.93M-114.93M-129.06M20.14M123.19M
Net Interest Income+1.94M612K-349K6.59M29.01M32.51M
Interest Income1.94M612K06.59M29.01M32.51M
Interest Expense00349K000
Other Income/Expense1.94M9.63M-5K11.57M30.47M-56.56M
Pretax Income+-54.22M-9.29M-114.94M-117.5M50.61M66.63M
Pretax Margin %-0.28%-0.04%-0.45%-0.27%0.08%0.09%
Income Tax+016K233K-2.06M724K-158.65M
Effective Tax Rate %1%1%0.31%0.56%0.56%2.55%
Net Income+-54.22M-9.31M-36.08M-65.57M28.11M169.68M
Net Margin %-0.28%-0.04%-0.14%-0.15%0.05%0.22%
Net Income Growth %-0.83%-2.88%-0.82%1.43%5.04%
Net Income (Continuing)-54.22M-9.31M-115.17M-115.44M49.89M225.27M
Discontinued Operations000000
Minority Interest00261.86M219.86M135.9M39.59M
EPS (Diluted)+-0.71-0.14-1.49-1.410.311.56
EPS Growth %-0.8%-9.64%0.05%1.22%4.03%
EPS (Basic)-0.36-0.14-1.49-1.410.311.81
Diluted Shares Outstanding73.48M65.43M77.44M82.12M91.62M144.51M
Basic Shares Outstanding146.77M65.43M77.44M82.12M90.6M93.89M
Dividend Payout Ratio----4.45%0.55%

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+261.54M171.64M653.08M741.6M770.03M662.22M
Cash & Short-Term Investments247.27M154.04M615.34M704.75M723.1M609.5M
Cash Only213.88M116.23M280.11M38.94M57.9M66.89M
Short-Term Investments33.38M37.81M335.23M665.81M665.2M542.61M
Accounts Receivable1.11M912K5.33M1.17M526K511K
Days Sales Outstanding2.111.447.660.980.310.24
Inventory000000
Days Inventory Outstanding------
Other Current Assets2.96M2.9M12.91M5.12M8.76M13.11M
Total Non-Current Assets+57.33M60.63M159.67M295.92M274.98M532.71M
Property, Plant & Equipment26.93M35.24M44.52M181.8M178.49M165.75M
Fixed Asset Turnover7.14x6.55x5.70x2.41x3.44x4.65x
Goodwill0059.79M58.81M62.76M62.76M
Intangible Assets1.16M1.56M22.93M22.29M20.82M15.3M
Long-Term Investments459K459K459K459K6.46M7M
Other Non-Current Assets28.78M23.37M31.97M32.55M6.45M7.22M
Total Assets+318.87M232.27M812.75M1.04B1.05B1.19B
Asset Turnover0.60x0.99x0.31x0.42x0.59x0.64x
Asset Growth %--0.27%2.5%0.28%0.01%0.14%
Total Current Liabilities+163.62M146.1M264.59M397.47M552.05M643.05M
Accounts Payable7.13M8.52M8.81M7.95M11.78M18.02M
Days Payables Outstanding28.2142.1830.6418.0218.5823.39
Short-Term Debt000000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities24.53M27.37M18.13M17.36M139.6M18.5M
Current Ratio1.60x1.17x2.47x1.87x1.39x1.03x
Quick Ratio1.60x1.17x2.47x1.87x1.39x1.03x
Cash Conversion Cycle------
Total Non-Current Liabilities+3.35M3.81M8.69M129.12M123.74M313.94M
Long-Term Debt000000
Capital Lease Obligations000125.15M121.66M115.1M
Deferred Tax Liabilities003.79M2.44M1.71M948K
Other Non-Current Liabilities3.35M3.81M4.9M1.54M370K197.89M
Total Liabilities166.97M149.91M273.28M526.6M675.78M956.99M
Total Debt+000130.11M127.38M121.25M
Net Debt-213.88M-116.23M-280.11M91.17M69.48M54.36M
Debt / Equity---0.25x0.34x0.51x
Debt / EBITDA----3.05x0.81x
Net Debt / EBITDA----1.66x0.36x
Interest Coverage---329.32x---
Total Equity+151.9M82.36M539.47M510.92M369.22M237.94M
Equity Growth %--0.46%5.55%-0.05%-0.28%-0.36%
Book Value per Share2.071.266.976.224.031.65
Total Shareholders' Equity151.9M82.36M277.61M291.06M233.33M198.35M
Common Stock435.23M569.25M1K1K1K1K
Retained Earnings-291.35M-494.77M-36.13M-101.8M-73.71M83.78M
Treasury Stock000000
Accumulated OCI3K27K-103K-1.53M2.05M343K
Minority Interest00261.86M219.86M135.9M39.59M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+16.57M-12.34M69.71M168.31M225.03M295.68M
Operating CF Margin %0.09%-0.05%0.27%0.38%0.37%0.38%
Operating CF Growth %--1.74%6.65%1.41%0.34%0.31%
Net Income-54.22M-9.31M-115.17M-115.44M49.89M225.27M
Depreciation & Amortization7.32M9.42M12.36M18.79M21.65M26.48M
Stock-Based Compensation14.66M3.43M36.51M138.5M37.29M35.34M
Deferred Taxes000-2.47M-722K-165.77M
Other Non-Cash Items3.49M1.13M18.4M4.32M-2.02M213K
Working Capital Changes45.33M-17M117.61M124.61M118.95M174.14M
Change in Receivables-401K201K-4.21M4.16M643K15K
Change in Inventory01.73M0000
Change in Payables-2.23M404K1.45M-752K4.53M2.2M
Cash from Investing+-25.78M-21.58M-403.2M-359.59M-15.51M113.78M
Capital Expenditures-14.68M-16.93M-28.15M-31.91M-25.55M-12.01M
CapEx % of Revenue0.08%0.07%0.11%0.07%0.04%0.02%
Acquisitions------
Investments------
Other Investing-502K174K-822K-545K-580K-318K
Cash from Financing+180.36M-63.05M503.4M-48.87M-216.01M-401.55M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000-38.09M-125.19M-93.37M
Share Repurchases------
Other Financing0-652K-1.97M-5.58M-21.14M-35.26M
Net Change in Cash------
Free Cash Flow+1.39M-29.26M40.74M136.4M198.9M283.67M
FCF Margin %0.01%-0.13%0.16%0.31%0.32%0.37%
FCF Growth %--22.05%2.39%2.35%0.46%0.43%
FCF per Share0.02-0.450.531.662.171.96
FCF Conversion (FCF/Net Income)-0.31x1.33x-1.93x-2.57x8.01x1.74x
Interest Paid000000
Taxes Paid000000

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-35.7%-7.95%-11.61%-12.49%6.39%55.89%
Return on Invested Capital (ROIC)---76.46%-22.47%2.9%25.28%
Gross Margin51.99%68.06%58.68%63.18%62.28%63.51%
Net Margin-28.2%-4.03%-14.21%-14.99%4.58%22.02%
Debt / Equity---0.25x0.34x0.51x
Interest Coverage---329.32x---
FCF Conversion-0.31x1.33x-1.93x-2.57x8.01x1.74x
Revenue Growth-20.03%10.03%72.25%40.27%25.57%

Frequently Asked Questions

Valuation & Price

Clear Secure, Inc. (YOU) has a price-to-earnings (P/E) ratio of 21.9x. This is roughly in line with market averages.

Growth & Financials

Clear Secure, Inc. (YOU) reported $866.3M in revenue for fiscal year 2024. This represents a 351% increase from $192.3M in 2019.

Clear Secure, Inc. (YOU) grew revenue by 25.6% over the past year. This is strong growth.

Yes, Clear Secure, Inc. (YOU) is profitable, generating $181.7M in net income for fiscal year 2024 (22.0% net margin).

Dividend & Returns

Yes, Clear Secure, Inc. (YOU) pays a dividend with a yield of 1.89%. This makes it attractive for income-focused investors.

Clear Secure, Inc. (YOU) has a return on equity (ROE) of 55.9%. This is excellent, indicating efficient use of shareholder capital.

Clear Secure, Inc. (YOU) generated $289.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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