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Side-by-side financial comparison of Clearwater Analytics Holdings, Inc. (CWAN) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
WYNDHAM HOTELS & RESORTS, INC. is the larger business by last-quarter revenue ($334.0M vs $217.5M, roughly 1.5× Clearwater Analytics Holdings, Inc.). Clearwater Analytics Holdings, Inc. runs the higher net margin — -5.4% vs -18.0%, a 12.6% gap on every dollar of revenue. On growth, Clearwater Analytics Holdings, Inc. posted the faster year-over-year revenue change (72.0% vs -76.3%). WYNDHAM HOTELS & RESORTS, INC. produced more free cash flow last quarter ($168.0M vs $52.3M). Over the past eight quarters, Clearwater Analytics Holdings, Inc.'s revenue compounded faster (45.5% CAGR vs -4.6%).
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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
CWAN vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $217.5M | $334.0M |
| Net Profit | $-11.8M | $-60.0M |
| Gross Margin | 67.2% | — |
| Operating Margin | -3.1% | — |
| Net Margin | -5.4% | -18.0% |
| Revenue YoY | 72.0% | -76.3% |
| Net Profit YoY | -102.8% | -170.6% |
| EPS (diluted) | $-0.04 | $-0.80 |
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 | — | $334.0M | ||
| Q4 25 | $217.5M | $334.0M | ||
| Q3 25 | $205.1M | $382.0M | ||
| Q2 25 | $181.9M | $397.0M | ||
| Q1 25 | $126.9M | $316.0M | ||
| Q4 24 | $126.5M | $336.0M | ||
| Q3 24 | $115.8M | $396.0M | ||
| Q2 24 | $106.8M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-11.8M | $-60.0M | ||
| Q3 25 | $-10.3M | $105.0M | ||
| Q2 25 | $-23.2M | $87.0M | ||
| Q1 25 | $6.5M | $61.0M | ||
| Q4 24 | $419.3M | $85.0M | ||
| Q3 24 | $3.6M | $102.0M | ||
| Q2 24 | $-430.0K | $86.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -3.1% | -11.4% | ||
| Q3 25 | 3.2% | 46.6% | ||
| Q2 25 | -8.0% | 37.8% | ||
| Q1 25 | 5.6% | 35.4% | ||
| Q4 24 | 1.0% | 38.4% | ||
| Q3 24 | 6.3% | 43.2% | ||
| Q2 24 | 3.6% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | -5.4% | -18.0% | ||
| Q3 25 | -5.0% | 27.5% | ||
| Q2 25 | -12.8% | 21.9% | ||
| Q1 25 | 5.1% | 19.3% | ||
| Q4 24 | 331.5% | 25.3% | ||
| Q3 24 | 3.1% | 25.8% | ||
| Q2 24 | -0.4% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.04 | $-0.77 | ||
| Q3 25 | $-0.04 | $1.36 | ||
| Q2 25 | $-0.09 | $1.13 | ||
| Q1 25 | $0.03 | $0.78 | ||
| Q4 24 | $1.65 | $1.06 | ||
| Q3 24 | $0.02 | $1.29 | ||
| Q2 24 | $0.00 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $91.2M | $64.0M |
| Total DebtLower is stronger | $822.6M | — |
| Stockholders' EquityBook value | $2.0B | $468.0M |
| Total Assets | $3.0B | $4.2B |
| Debt / EquityLower = less leverage | 0.41× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $91.2M | $64.0M | ||
| Q3 25 | $64.1M | $70.0M | ||
| Q2 25 | $71.9M | $50.0M | ||
| Q1 25 | $282.9M | $48.0M | ||
| Q4 24 | $255.5M | $103.0M | ||
| Q3 24 | $305.8M | $72.0M | ||
| Q2 24 | $257.9M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $822.6M | $2.5B | ||
| Q3 25 | $838.9M | $2.6B | ||
| Q2 25 | $878.1M | $2.5B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | $43.3M | $2.4B | ||
| Q3 24 | — | $2.4B | ||
| Q2 24 | — | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $2.0B | $468.0M | ||
| Q3 25 | $2.0B | $583.0M | ||
| Q2 25 | $2.0B | $570.0M | ||
| Q1 25 | $1.1B | $579.0M | ||
| Q4 24 | $1.0B | $650.0M | ||
| Q3 24 | $403.2M | $583.0M | ||
| Q2 24 | $380.6M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $3.0B | $4.2B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $3.0B | $4.3B | ||
| Q1 25 | $1.3B | $4.2B | ||
| Q4 24 | $1.2B | $4.2B | ||
| Q3 24 | $623.5M | $4.2B | ||
| Q2 24 | $585.1M | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.41× | 5.37× | ||
| Q3 25 | 0.42× | 4.43× | ||
| Q2 25 | 0.45× | 4.44× | ||
| Q1 25 | — | 4.29× | ||
| Q4 24 | 0.04× | 3.72× | ||
| Q3 24 | — | 4.19× | ||
| Q2 24 | — | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | $52.3M | $168.0M |
| FCF MarginFCF / Revenue | 24.0% | 50.3% |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $164.3M | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $55.3M | $152.0M | ||
| Q3 25 | $49.0M | $86.0M | ||
| Q2 25 | $47.1M | $70.0M | ||
| Q1 25 | $24.5M | $59.0M | ||
| Q4 24 | $-29.2M | $134.0M | ||
| Q3 24 | $49.6M | $79.0M | ||
| Q2 24 | $43.9M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | $52.3M | $136.0M | ||
| Q3 25 | $44.9M | $75.0M | ||
| Q2 25 | $44.1M | $58.0M | ||
| Q1 25 | $23.0M | $52.0M | ||
| Q4 24 | $-30.0M | $109.0M | ||
| Q3 24 | $48.1M | $71.0M | ||
| Q2 24 | $42.4M | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 24.0% | 40.7% | ||
| Q3 25 | 21.9% | 19.6% | ||
| Q2 25 | 24.2% | 14.6% | ||
| Q1 25 | 18.2% | 16.5% | ||
| Q4 24 | -23.7% | 32.4% | ||
| Q3 24 | 41.5% | 17.9% | ||
| Q2 24 | 39.7% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 4.8% | ||
| Q3 25 | 2.0% | 2.9% | ||
| Q2 25 | 1.6% | 3.0% | ||
| Q1 25 | 1.2% | 2.2% | ||
| Q4 24 | 0.6% | 7.4% | ||
| Q3 24 | 1.3% | 2.0% | ||
| Q2 24 | 1.4% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | 3.76× | 0.97× | ||
| Q4 24 | -0.07× | 1.58× | ||
| Q3 24 | 13.66× | 0.77× | ||
| Q2 24 | — | 0.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CWAN
Segment breakdown not available.
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
