vs
Side-by-side financial comparison of Clearwater Analytics Holdings, Inc. (CWAN) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $217.5M, roughly 1.7× Clearwater Analytics Holdings, Inc.). Bristow Group Inc. runs the higher net margin — 4.9% vs -5.4%, a 10.3% gap on every dollar of revenue. On growth, Clearwater Analytics Holdings, Inc. posted the faster year-over-year revenue change (72.0% vs 6.7%). Clearwater Analytics Holdings, Inc. produced more free cash flow last quarter ($52.3M vs $47.8M). Over the past eight quarters, Clearwater Analytics Holdings, Inc.'s revenue compounded faster (45.5% CAGR vs 5.8%).
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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
CWAN vs VTOL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $217.5M | $377.3M |
| Net Profit | $-11.8M | $18.4M |
| Gross Margin | 67.2% | — |
| Operating Margin | -3.1% | 8.5% |
| Net Margin | -5.4% | 4.9% |
| Revenue YoY | 72.0% | 6.7% |
| Net Profit YoY | -102.8% | -42.1% |
| EPS (diluted) | $-0.04 | $0.61 |
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 | $377.3M | ||
| Q3 25 | $205.1M | $386.3M | ||
| Q2 25 | $181.9M | $376.4M | ||
| Q1 25 | $126.9M | $350.5M | ||
| Q4 24 | $126.5M | $353.5M | ||
| Q3 24 | $115.8M | $365.1M | ||
| Q2 24 | $106.8M | $359.7M | ||
| Q1 24 | $102.7M | $337.1M |
| Q4 25 | $-11.8M | $18.4M | ||
| Q3 25 | $-10.3M | $51.5M | ||
| Q2 25 | $-23.2M | $31.7M | ||
| Q1 25 | $6.5M | $27.4M | ||
| Q4 24 | $419.3M | $31.8M | ||
| Q3 24 | $3.6M | $28.2M | ||
| Q2 24 | $-430.0K | $28.2M | ||
| Q1 24 | $1.9M | $6.6M |
| Q4 25 | 67.2% | — | ||
| Q3 25 | 65.6% | — | ||
| Q2 25 | 65.1% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | 73.5% | — | ||
| Q3 24 | 72.9% | — | ||
| Q2 24 | 72.0% | — | ||
| Q1 24 | 72.6% | — |
| Q4 25 | -3.1% | 8.5% | ||
| Q3 25 | 3.2% | 13.1% | ||
| Q2 25 | -8.0% | 11.3% | ||
| Q1 25 | 5.6% | 9.6% | ||
| Q4 24 | 1.0% | 9.0% | ||
| Q3 24 | 6.3% | 9.1% | ||
| Q2 24 | 3.6% | 12.4% | ||
| Q1 24 | -0.2% | 6.8% |
| Q4 25 | -5.4% | 4.9% | ||
| Q3 25 | -5.0% | 13.3% | ||
| Q2 25 | -12.8% | 8.4% | ||
| Q1 25 | 5.1% | 7.8% | ||
| Q4 24 | 331.5% | 9.0% | ||
| Q3 24 | 3.1% | 7.7% | ||
| Q2 24 | -0.4% | 7.8% | ||
| Q1 24 | 1.8% | 2.0% |
| Q4 25 | $-0.04 | $0.61 | ||
| Q3 25 | $-0.04 | $1.72 | ||
| Q2 25 | $-0.09 | $1.07 | ||
| Q1 25 | $0.03 | $0.92 | ||
| Q4 24 | $1.65 | $1.07 | ||
| Q3 24 | $0.02 | $0.95 | ||
| Q2 24 | $0.00 | $0.96 | ||
| Q1 24 | $0.01 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | $822.6M | $671.5M |
| Stockholders' EquityBook value | $2.0B | $1.1B |
| Total Assets | $3.0B | $2.3B |
| Debt / EquityLower = less leverage | 0.41× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $91.2M | $286.2M | ||
| Q3 25 | $64.1M | $245.5M | ||
| Q2 25 | $71.9M | $251.8M | ||
| Q1 25 | $282.9M | $191.1M | ||
| Q4 24 | $255.5M | $247.5M | ||
| Q3 24 | $305.8M | $200.3M | ||
| Q2 24 | $257.9M | $178.6M | ||
| Q1 24 | $267.6M | $140.6M |
| Q4 25 | $822.6M | $671.5M | ||
| Q3 25 | $838.9M | $675.0M | ||
| Q2 25 | $878.1M | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | $43.3M | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M | ||
| Q1 24 | — | $544.1M |
| Q4 25 | $2.0B | $1.1B | ||
| Q3 25 | $2.0B | $1.0B | ||
| Q2 25 | $2.0B | $984.4M | ||
| Q1 25 | $1.1B | $931.7M | ||
| Q4 24 | $1.0B | $891.7M | ||
| Q3 24 | $403.2M | $899.2M | ||
| Q2 24 | $380.6M | $849.1M | ||
| Q1 24 | $406.2M | $820.7M |
| Q4 25 | $3.0B | $2.3B | ||
| Q3 25 | $3.0B | $2.3B | ||
| Q2 25 | $3.0B | $2.3B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $1.2B | $2.1B | ||
| Q3 24 | $623.5M | $2.1B | ||
| Q2 24 | $585.1M | $2.0B | ||
| Q1 24 | $547.8M | $1.9B |
| Q4 25 | 0.41× | 0.63× | ||
| Q3 25 | 0.42× | 0.65× | ||
| Q2 25 | 0.45× | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 0.04× | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $52.3M | $47.8M |
| FCF MarginFCF / Revenue | 24.0% | 12.7% |
| Capex IntensityCapex / Revenue | 1.4% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $164.3M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $55.3M | $76.9M | ||
| Q3 25 | $49.0M | $23.1M | ||
| Q2 25 | $47.1M | $99.0M | ||
| Q1 25 | $24.5M | $-603.0K | ||
| Q4 24 | $-29.2M | $51.1M | ||
| Q3 24 | $49.6M | $66.0M | ||
| Q2 24 | $43.9M | $33.7M | ||
| Q1 24 | $10.0M | $26.7M |
| Q4 25 | $52.3M | $47.8M | ||
| Q3 25 | $44.9M | $-6.2M | ||
| Q2 25 | $44.1M | $67.4M | ||
| Q1 25 | $23.0M | $-52.7M | ||
| Q4 24 | $-30.0M | $-32.4M | ||
| Q3 24 | $48.1M | $9.0M | ||
| Q2 24 | $42.4M | $-16.7M | ||
| Q1 24 | $8.6M | $-37.9M |
| Q4 25 | 24.0% | 12.7% | ||
| Q3 25 | 21.9% | -1.6% | ||
| Q2 25 | 24.2% | 17.9% | ||
| Q1 25 | 18.2% | -15.0% | ||
| Q4 24 | -23.7% | -9.2% | ||
| Q3 24 | 41.5% | 2.5% | ||
| Q2 24 | 39.7% | -4.6% | ||
| Q1 24 | 8.4% | -11.2% |
| Q4 25 | 1.4% | 7.7% | ||
| Q3 25 | 2.0% | 7.6% | ||
| Q2 25 | 1.6% | 8.4% | ||
| Q1 25 | 1.2% | 14.9% | ||
| Q4 24 | 0.6% | 23.6% | ||
| Q3 24 | 1.3% | 15.6% | ||
| Q2 24 | 1.4% | 14.0% | ||
| Q1 24 | 1.4% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 3.12× | ||
| Q1 25 | 3.76× | -0.02× | ||
| Q4 24 | -0.07× | 1.61× | ||
| Q3 24 | 13.66× | 2.34× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | 5.29× | 4.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CWAN
Segment breakdown not available.
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
