Last 23 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Clear Secure, Inc.'s quarterly P/E stands at 31.8x, up 27.8% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 17.8% YoY to 17.1x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 47.08 | 31.85 | 28.29 | 28.78 | 26.69 | 24.91 | 7.66 | 33.14 | 17.99 | 26.59 | 34.42 | 28.00 | 62.55 |
| — | +27.8% | +269.6% | -13.2% | +48.4% | -6.3% | -77.8% | +18.4% | -71.2% | — | — | — | — | |
| P/S Ratio | 5.89 | 4.83 | 3.54 | 3.56 | 3.01 | 2.99 | 3.81 | 3.94 | 2.34 | 2.77 | 2.76 | 2.70 | 3.53 |
| — | +61.7% | -7.1% | -9.5% | +28.3% | +7.7% | +38.2% | +46.0% | -33.6% | -38.0% | -40.6% | -34.4% | -8.7% | |
| P/B Ratio | 25.09 | 22.90 | 16.70 | 19.67 | 20.82 | 20.05 | 13.22 | 17.26 | 7.66 | 7.38 | 5.11 | 3.77 | 4.58 |
| — | +14.2% | +26.3% | +14.0% | +171.7% | +171.8% | +158.7% | +357.2% | +67.4% | +55.3% | +9.6% | +4.9% | +53.3% | |
| P/FCF | 15.46 | 6.59 | 4.55 | — | 5.59 | 6.92 | 5.87 | — | 3.97 | 6.42 | 5.24 | — | 7.94 |
| — | -4.7% | -22.5% | — | +40.7% | +7.8% | +12.0% | — | -50.0% | -44.3% | -37.7% | — | -17.8% | |
| EV / EBITDA | 23.61 | 17.15 | 11.68 | 14.08 | 13.50 | 14.56 | 19.49 | 19.11 | 12.47 | 17.20 | 22.30 | 18.29 | 105.06 |
| — | +17.8% | -40.1% | -26.3% | +8.2% | -15.3% | -12.6% | +4.5% | -88.1% | — | — | — | — | |
| EV / EBIT | 27.99 | — | 14.62 | 13.10 | 15.65 | 17.10 | 23.48 | 22.90 | 15.12 | 21.62 | 31.15 | 23.28 | 2520.46 |
| — | — | -37.7% | -42.8% | +3.5% | -20.9% | -24.6% | -1.6% | -99.4% | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Clear Secure, Inc.'s operating margin was 24.5% in Q1 2026, up 2.1 pp QoQ and up 6.8 pp YoY. The trailing four-quarter average of 22.3% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 37.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.8% | 85.4% | 146.0% | 65.4% | 64.1% | 62.0% | 62.7% | 63.0% | 64.6% | 63.9% | 61.9% | 63.7% | 63.0% |
| — | +37.8% | +132.8% | +3.7% | -0.8% | -3.0% | +1.3% | -1.1% | +2.4% | +6.2% | -2.7% | -0.6% | -0.6% | |
| Operating Margin | 20.7% | 24.5% | 22.4% | 23.0% | 19.4% | 17.7% | 16.5% | 17.7% | 16.2% | 13.2% | 9.2% | 12.0% | 0.1% |
| — | +38.5% | +35.5% | +29.8% | +19.4% | +33.8% | +79.9% | +47.1% | +11119.0% | +216.3% | +136.8% | +121.2% | +101.1% | |
| Net Margin | 12.1% | 33.6% | 12.8% | 12.3% | 11.3% | 12.0% | 50.1% | 11.8% | 12.9% | 10.5% | 8.2% | 9.6% | 2.7% |
| — | +179.9% | -74.5% | +4.3% | -12.8% | +14.4% | +512.6% | +23.6% | +382.6% | +366.1% | +192.6% | +130.2% | +138.4% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 49.4% | 40.7% | 16.6% | 19.3% | 19.6% | 14.0% | 49.3% | 11.5% | 9.7% | 5.9% | 3.4% | 3.3% | 0.8% |
| — | +191.6% | -66.3% | +68.5% | +101.8% | +137.0% | +1359.9% | +243.8% | +1060.7% | +669.1% | +255.2% | +148.2% | +162.1% | |
| ROA | 8.7% | 6.2% | 2.5% | 2.5% | 2.2% | 2.2% | 10.1% | 2.5% | 2.4% | 1.8% | 1.3% | 1.4% | 0.4% |
| — | +183.5% | -74.8% | -3.8% | -10.6% | +20.8% | +658.3% | +78.4% | +555.4% | +472.0% | +213.2% | +134.8% | +145.0% | |
| ROIC | 68.1% | 57.5% | 38.7% | 32.5% | 20.6% | 12.5% | 9.1% | 9.0% | 7.1% | 4.6% | 2.4% | 2.7% | 0.0% |
| — | +361.9% | +326.8% | +261.6% | +191.5% | +169.9% | +270.6% | +229.2% | +24314.5% | +343.8% | +142.0% | +112.2% | +100.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 19.0% YoY to 1.01x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.91 | 0.95 | 0.51 | 0.68 | 0.55 | 0.47 | 0.34 | 0.28 | 0.28 |
| — | — | — | — | +66.3% | +102.8% | +47.7% | +142.2% | +93.9% | +77.5% | +35.5% | +602.7% | +445.6% | |
| Debt / EBITDA | — | — | — | — | 2.33 | 2.72 | 2.95 | 2.93 | 3.39 | 4.23 | 5.81 | 5.24 | 24.98 |
| — | — | — | — | -31.2% | -35.7% | -49.1% | -44.2% | -86.4% | — | — | — | — | |
| Current Ratio | 1.01 | 1.01 | 1.01 | 0.93 | 0.87 | 0.85 | 1.03 | 1.07 | 1.13 | 1.19 | 1.39 | 1.63 | 1.62 |
| — | +19.0% | -2.3% | -12.8% | -22.6% | -29.0% | -26.2% | -34.6% | -30.6% | -29.5% | -25.2% | -21.3% | -23.3% | |
| Quick Ratio | 1.01 | 1.01 | 1.01 | 0.93 | 0.87 | 0.85 | 1.03 | 1.07 | 1.13 | 1.19 | 1.33 | 1.56 | 1.62 |
| — | +19.0% | -2.3% | -12.8% | -22.6% | -29.0% | -22.4% | -31.5% | -30.6% | -26.8% | -28.9% | -21.6% | -23.3% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 23 years · Updated daily
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Clear Secure, Inc.'s current P/E is 47.1x. The average P/E over the last 4 quarters is 28.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Clear Secure, Inc.'s current operating margin is 20.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Clear Secure, Inc.'s business trajectory between earnings reports.