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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and Paymentus Holdings, Inc. (PAY). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $330.5M, roughly 1.1× Paymentus Holdings, Inc.). Paymentus Holdings, Inc. runs the higher net margin — 6.3% vs -3.6%, a 9.8% gap on every dollar of revenue. On growth, Paymentus Holdings, Inc. posted the faster year-over-year revenue change (28.1% vs -4.7%). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
CLW vs PAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $330.5M |
| Net Profit | $-12.8M | $20.7M |
| Gross Margin | -0.2% | 25.4% |
| Operating Margin | — | 7.3% |
| Net Margin | -3.6% | 6.3% |
| Revenue YoY | -4.7% | 28.1% |
| Net Profit YoY | -103.2% | 57.2% |
| EPS (diluted) | — | $0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $360.3M | — | ||
| Q4 25 | $386.4M | $330.5M | ||
| Q3 25 | $399.0M | $310.7M | ||
| Q2 25 | $391.8M | $280.1M | ||
| Q1 25 | $378.2M | $275.2M | ||
| Q4 24 | $387.1M | $257.9M | ||
| Q3 24 | $393.3M | $231.6M | ||
| Q2 24 | $344.4M | $197.4M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $20.7M | ||
| Q3 25 | $-53.3M | $17.7M | ||
| Q2 25 | $2.7M | $14.7M | ||
| Q1 25 | $-6.3M | $13.8M | ||
| Q4 24 | $199.1M | $13.1M | ||
| Q3 24 | $5.8M | $14.4M | ||
| Q2 24 | $-25.8M | $9.4M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 25.4% | ||
| Q3 25 | 4.7% | 24.1% | ||
| Q2 25 | 11.0% | 25.5% | ||
| Q1 25 | 9.7% | 24.0% | ||
| Q4 24 | 3.8% | 25.6% | ||
| Q3 24 | 7.7% | 26.2% | ||
| Q2 24 | -0.6% | 29.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 7.3% | ||
| Q3 25 | -13.9% | 6.4% | ||
| Q2 25 | 2.5% | 5.7% | ||
| Q1 25 | -1.1% | 5.7% | ||
| Q4 24 | -4.0% | 5.5% | ||
| Q3 24 | -0.3% | 5.2% | ||
| Q2 24 | -13.6% | 5.2% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 6.3% | ||
| Q3 25 | -13.4% | 5.7% | ||
| Q2 25 | 0.7% | 5.3% | ||
| Q1 25 | -1.7% | 5.0% | ||
| Q4 24 | 51.4% | 5.1% | ||
| Q3 24 | 1.5% | 6.2% | ||
| Q2 24 | -7.5% | 4.7% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $0.16 | ||
| Q3 25 | $-3.30 | $0.14 | ||
| Q2 25 | $0.17 | $0.11 | ||
| Q1 25 | $-0.38 | $0.11 | ||
| Q4 24 | $11.87 | $0.11 | ||
| Q3 24 | $0.35 | $0.11 | ||
| Q2 24 | $-1.55 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.5M | $320.9M |
| Total DebtLower is stronger | $361.1M | — |
| Stockholders' EquityBook value | $813.8M | $560.4M |
| Total Assets | $1.6B | $667.9M |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $320.9M | ||
| Q3 25 | $34.4M | $287.9M | ||
| Q2 25 | $46.7M | $266.4M | ||
| Q1 25 | $44.0M | $245.8M | ||
| Q4 24 | $79.6M | $205.9M | ||
| Q3 24 | $35.5M | $187.5M | ||
| Q2 24 | $39.6M | $188.8M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | — | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $560.4M | ||
| Q3 25 | $783.0M | $537.4M | ||
| Q2 25 | $836.8M | $516.7M | ||
| Q1 25 | $836.6M | $500.4M | ||
| Q4 24 | $854.6M | $485.6M | ||
| Q3 24 | $664.6M | $468.8M | ||
| Q2 24 | $658.6M | $451.6M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $667.9M | ||
| Q3 25 | $1.6B | $644.4M | ||
| Q2 25 | $1.6B | $609.5M | ||
| Q1 25 | $1.6B | $590.9M | ||
| Q4 24 | $1.7B | $576.2M | ||
| Q3 24 | $2.5B | $552.9M | ||
| Q2 24 | $2.5B | $527.7M |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | — | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $45.1M |
| Free Cash FlowOCF − Capex | — | $45.0M |
| FCF MarginFCF / Revenue | — | 13.6% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | — | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $45.1M | ||
| Q3 25 | $34.0M | $35.1M | ||
| Q2 25 | $-28.2M | $31.5M | ||
| Q1 25 | $1.5M | $50.4M | ||
| Q4 24 | $-35.1M | $27.9M | ||
| Q3 24 | $16.2M | $6.7M | ||
| Q2 24 | $21.1M | $18.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $45.0M | ||
| Q3 25 | $15.7M | $35.0M | ||
| Q2 25 | $-51.1M | $31.4M | ||
| Q1 25 | $-31.2M | $50.4M | ||
| Q4 24 | $-68.1M | $27.8M | ||
| Q3 24 | $-30.8M | $6.7M | ||
| Q2 24 | $3.0M | $17.8M |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 13.6% | ||
| Q3 25 | 3.9% | 11.3% | ||
| Q2 25 | -13.0% | 11.2% | ||
| Q1 25 | -8.2% | 18.3% | ||
| Q4 24 | -17.6% | 10.8% | ||
| Q3 24 | -7.8% | 2.9% | ||
| Q2 24 | 0.9% | 9.0% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 0.0% | ||
| Q3 25 | 4.6% | 0.0% | ||
| Q2 25 | 5.8% | 0.0% | ||
| Q1 25 | 8.6% | 0.0% | ||
| Q4 24 | 8.5% | 0.0% | ||
| Q3 24 | 12.0% | 0.0% | ||
| Q2 24 | 5.3% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 2.18× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | -10.44× | 2.14× | ||
| Q1 25 | — | 3.65× | ||
| Q4 24 | -0.18× | 2.12× | ||
| Q3 24 | 2.79× | 0.47× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
