vs
Side-by-side financial comparison of Clearwater Analytics Holdings, Inc. (CWAN) and Forestar Group Inc. (FOR). Click either name above to swap in a different company.
Forestar Group Inc. is the larger business by last-quarter revenue ($273.0M vs $217.5M, roughly 1.3× Clearwater Analytics Holdings, Inc.). Forestar Group Inc. runs the higher net margin — 5.6% vs -5.4%, a 11.0% gap on every dollar of revenue. On growth, Clearwater Analytics Holdings, Inc. posted the faster year-over-year revenue change (72.0% vs 9.0%). Clearwater Analytics Holdings, Inc. produced more free cash flow last quarter ($52.3M vs $-157.1M). Over the past eight quarters, Clearwater Analytics Holdings, Inc.'s revenue compounded faster (45.5% CAGR vs -9.6%).
Clearwater Analytics Holdings, Inc. is an American software-as-a-service (SaaS) fintech company that provides automated investment accounting, performance, compliance, and risk reporting worldwide. Clearwater is a publicly traded company headquartered in Boise, Idaho, with additional offices in London, Edinburgh, New York City and Noida.
Forestar Group Inc. is a residential lot development company based in Arlington, Texas. The company has operations in 51 markets in 21 states and delivered 11,518 residential lots during the twelve-month period ended December 31, 2020. The company is publicly traded on the New York Stock Exchange and in October 2017 became a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. The company primarily acquires entitled real estate and...
CWAN vs FOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $217.5M | $273.0M |
| Net Profit | $-11.8M | $15.4M |
| Gross Margin | 67.2% | 20.1% |
| Operating Margin | -3.1% | 7.6% |
| Net Margin | -5.4% | 5.6% |
| Revenue YoY | 72.0% | 9.0% |
| Net Profit YoY | -102.8% | -6.7% |
| EPS (diluted) | $-0.04 | $0.30 |
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.
| Q4 25 | $217.5M | $273.0M | ||
| Q3 25 | $205.1M | $670.5M | ||
| Q2 25 | $181.9M | $390.5M | ||
| Q1 25 | $126.9M | $351.0M | ||
| Q4 24 | $126.5M | $250.4M | ||
| Q3 24 | $115.8M | $551.3M | ||
| Q2 24 | $106.8M | $318.4M | ||
| Q1 24 | $102.7M | $333.8M |
| Q4 25 | $-11.8M | $15.4M | ||
| Q3 25 | $-10.3M | $86.9M | ||
| Q2 25 | $-23.2M | $32.9M | ||
| Q1 25 | $6.5M | $31.6M | ||
| Q4 24 | $419.3M | $16.5M | ||
| Q3 24 | $3.6M | $81.5M | ||
| Q2 24 | $-430.0K | $38.7M | ||
| Q1 24 | $1.9M | $45.0M |
| Q4 25 | 67.2% | 20.1% | ||
| Q3 25 | 65.6% | 22.3% | ||
| Q2 25 | 65.1% | 20.4% | ||
| Q1 25 | 73.3% | 22.6% | ||
| Q4 24 | 73.5% | 22.0% | ||
| Q3 24 | 72.9% | 23.9% | ||
| Q2 24 | 72.0% | 22.5% | ||
| Q1 24 | 72.6% | 24.9% |
| Q4 25 | -3.1% | 7.6% | ||
| Q3 25 | 3.2% | 16.9% | ||
| Q2 25 | -8.0% | 11.2% | ||
| Q1 25 | 5.6% | 11.6% | ||
| Q4 24 | 1.0% | 8.7% | ||
| Q3 24 | 6.3% | 19.7% | ||
| Q2 24 | 3.6% | 16.2% | ||
| Q1 24 | -0.2% | 17.6% |
| Q4 25 | -5.4% | 5.6% | ||
| Q3 25 | -5.0% | 13.0% | ||
| Q2 25 | -12.8% | 8.4% | ||
| Q1 25 | 5.1% | 9.0% | ||
| Q4 24 | 331.5% | 6.6% | ||
| Q3 24 | 3.1% | 14.8% | ||
| Q2 24 | -0.4% | 12.2% | ||
| Q1 24 | 1.8% | 13.5% |
| Q4 25 | $-0.04 | $0.30 | ||
| Q3 25 | $-0.04 | $1.70 | ||
| Q2 25 | $-0.09 | $0.65 | ||
| Q1 25 | $0.03 | $0.62 | ||
| Q4 24 | $1.65 | $0.32 | ||
| Q3 24 | $0.02 | $1.59 | ||
| Q2 24 | $0.00 | $0.76 | ||
| Q1 24 | $0.01 | $0.89 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $91.2M | $211.7M |
| Total DebtLower is stronger | $822.6M | $793.2M |
| Stockholders' EquityBook value | $2.0B | $1.8B |
| Total Assets | $3.0B | $3.2B |
| Debt / EquityLower = less leverage | 0.41× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $91.2M | $211.7M | ||
| Q3 25 | $64.1M | $379.2M | ||
| Q2 25 | $71.9M | $189.2M | ||
| Q1 25 | $282.9M | $174.3M | ||
| Q4 24 | $255.5M | $132.0M | ||
| Q3 24 | $305.8M | $481.2M | ||
| Q2 24 | $257.9M | $359.2M | ||
| Q1 24 | $267.6M | $416.2M |
| Q4 25 | $822.6M | $793.2M | ||
| Q3 25 | $838.9M | $802.7M | ||
| Q2 25 | $878.1M | $872.8M | ||
| Q1 25 | — | $872.5M | ||
| Q4 24 | $43.3M | $806.8M | ||
| Q3 24 | — | $706.4M | ||
| Q2 24 | — | $706.1M | ||
| Q1 24 | — | $705.7M |
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $2.0B | $1.8B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $403.2M | $1.6B | ||
| Q2 24 | $380.6M | $1.5B | ||
| Q1 24 | $406.2M | $1.5B |
| Q4 25 | $3.0B | $3.2B | ||
| Q3 25 | $3.0B | $3.1B | ||
| Q2 25 | $3.0B | $3.1B | ||
| Q1 25 | $1.3B | $3.0B | ||
| Q4 24 | $1.2B | $3.0B | ||
| Q3 24 | $623.5M | $2.8B | ||
| Q2 24 | $585.1M | $2.7B | ||
| Q1 24 | $547.8M | $2.6B |
| Q4 25 | 0.41× | 0.44× | ||
| Q3 25 | 0.42× | 0.45× | ||
| Q2 25 | 0.45× | 0.52× | ||
| Q1 25 | — | 0.53× | ||
| Q4 24 | 0.04× | 0.50× | ||
| Q3 24 | — | 0.44× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.48× |
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 | $55.3M | $-157.0M |
| Free Cash FlowOCF − Capex | $52.3M | $-157.1M |
| FCF MarginFCF / Revenue | 24.0% | -57.5% |
| Capex IntensityCapex / Revenue | 1.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -10.19× |
| TTM Free Cash FlowTrailing 4 quarters | $164.3M | $93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $55.3M | $-157.0M | ||
| Q3 25 | $49.0M | $256.3M | ||
| Q2 25 | $47.1M | $15.8M | ||
| Q1 25 | $24.5M | $-19.8M | ||
| Q4 24 | $-29.2M | $-450.0M | ||
| Q3 24 | $49.6M | $119.2M | ||
| Q2 24 | $43.9M | $-61.7M | ||
| Q1 24 | $10.0M | $-59.2M |
| Q4 25 | $52.3M | $-157.1M | ||
| Q3 25 | $44.9M | $255.6M | ||
| Q2 25 | $44.1M | $15.0M | ||
| Q1 25 | $23.0M | $-20.5M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $48.1M | $118.4M | ||
| Q2 24 | $42.4M | $-62.3M | ||
| Q1 24 | $8.6M | $-59.8M |
| Q4 25 | 24.0% | -57.5% | ||
| Q3 25 | 21.9% | 38.1% | ||
| Q2 25 | 24.2% | 3.8% | ||
| Q1 25 | 18.2% | -5.8% | ||
| Q4 24 | -23.7% | — | ||
| Q3 24 | 41.5% | 21.5% | ||
| Q2 24 | 39.7% | -19.6% | ||
| Q1 24 | 8.4% | -17.9% |
| Q4 25 | 1.4% | 0.0% | ||
| Q3 25 | 2.0% | 0.1% | ||
| Q2 25 | 1.6% | 0.2% | ||
| Q1 25 | 1.2% | 0.2% | ||
| Q4 24 | 0.6% | 0.0% | ||
| Q3 24 | 1.3% | 0.1% | ||
| Q2 24 | 1.4% | 0.2% | ||
| Q1 24 | 1.4% | 0.2% |
| Q4 25 | — | -10.19× | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | 3.76× | -0.63× | ||
| Q4 24 | -0.07× | -27.27× | ||
| Q3 24 | 13.66× | 1.46× | ||
| Q2 24 | — | -1.59× | ||
| Q1 24 | 5.29× | -1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CWAN
Segment breakdown not available.
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
