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Clear Secure, Inc. (YOU) stock

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NYSE: YOU NYSE Application Software Next results ~November 4, 2026

A Fundamentals grade

Clear Secure, Inc. is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($174.65) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($174.65) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

Clear Secure, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 78 sales by directors and officers, last 12 monthsInsider trades
  • Funds259 adding, 172 cuttingOf 56 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Clear Secure files

Where Clear Secure stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.00bn, up 19.8% on a year earlier, faster than the 17.4% growth a quarter earlier. Free-cash-flow margin rose to 50.8% from 36.5% a year earlier. Operating margin widened to 25.1% from 17.8%. Against its peers on growth, profitability, cash generation and balance sheet, it grades A. It passes 2 of our 2 financial-health checks.

Our model value for Clear Secure is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Clear Secure, Inc.'s trailing-twelve-month revenue grew 19.8% year on year, with a free-cash-flow margin of 50.8%. Where it stands out: free-cash-flow margin of 50.8% ranks 2 of 180 application software companies we cover.

Our discounted-cash-flow model values the business at ~$170 per share in the base case (~$140–$230 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 66.6% while net income fell 16.4%: a 83pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 19.8% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • High operating margin. 25.1% of revenue is left as operating profit, against a median of 1.1% for application software companies we cover.
  • Margins widening. Operating margin is up 7.3 points on a year ago.
  • Strong cash generation. 50.8% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 0.6 against the S&P 500.
  • Insiders selling. 8 insiders sold $191M of stock over the past 365 days and none bought (99% under pre-set trading plans).
  • Heavily shorted. 18.9% of the shares available to trade are sold short (6.7 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.57 against an average estimate of $0.47: beat by 22.0%
Revenue
$278m, up 26.6% on a year earlier
Share reaction
-4.9% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.54

Clear Secure's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.3%
  • 1 week+4.1%
  • 1 month+15.4%
  • This year+38.6%
  • 1 year+60.1%
  • 5 years+17.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1B
Operating margin
25.1%
Net margin
14.8%

Growth

Revenue growth
+19.8%
Change in growth rate
+2.4 pts

Cash

Free cash flow (TTM)
$508M
FCF margin
50.8%
Stock pay % of revenue
4.3%

Earnings

Last results
August 5, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Governance
  2. Leadership
  3. Results
  4. Insider trade
  5. Insider trade
  6. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Clear Secure, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($174.65) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Clear Secure, Inc.'s free cash flow after stock-based pay ( $387M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Clear Secure, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$170 ~$140–$230 Left out: far from the other models (more than 3x away from their median)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$36 ~$30–$60 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.8 ~$8.2–$12 Left out: far from the other models (more than 3x away from their median)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Clear Secure, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

43 /100

Weak moat

How hard Clear Secure's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Net income has been a median 4.4% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -2.9%; its worst year was -28.0%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 6 of 6 years, at a median 36.7% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (58 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $287m and EPS of $0.54 (range $0.43 to $0.67) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.10 +37% $1.1bn +23%
Next $2.61 +24% $1.3bn +15%

Next year's EPS estimate has moved −2.2% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.2% on 90 days ago. In the last 30 days, 1 analyst raised Clear Secure, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Clear Secure, Inc., last 90 days
$1.80 $2.00 $2.20 $2.40 $2.60 $2.80 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.02 Current fiscal year, 60 days ago: $1.95 Current fiscal year, 30 days ago: $2.05 Current fiscal year, 7 days ago: $2.09 Current fiscal year, Now: $2.10 $2.10 Next fiscal year, 90 days ago: $2.67 Next fiscal year, 60 days ago: $2.59 Next fiscal year, 30 days ago: $2.50 Next fiscal year, 7 days ago: $2.58 Next fiscal year, Now: $2.61 $2.61

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.02$2.67
60 days ago $1.95$2.59
30 days ago $2.05$2.50
7 days ago $2.09$2.58
Now $2.10$2.61

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.47 $0.57 +22.0%
Mar 2026 $0.36 $0.47 +32.0%
Dec 2025 $0.43 $0.46 +6.7%
Sept 2025 $0.33 $0.37 +12.8%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Clear Secure, Inc.'s revenue by +19.4% next year and +18.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+19.1%, weight 62%) and the company's own record (+20.0%, weight 38%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy467%
Hold117%
Sell117%

Monthly trend

  1. Oct 202622116
  2. Sep 202622116
  3. Aug 202622116
  4. Jul 202612115

Counts of recommendations published by analysts covering Clear Secure, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
18.9%
of tradable shares
Days to cover
6.7
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
100%
of shares
Held by insiders
7.3%
of shares
Employees
3,301
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Calendar year 20222023202420252026 to date
Return
YOU−12%−21%+33%+35%+39%
Industry peers (median)−50%+19%+2%−21%−14%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
YOU42%33%67%58%64%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
YOU−43%−51%−33%−22%−39%
S&P 500−25%−10%−8%−19%−9%

Worst fall since June 30, 2021: 73% from August 2, 2021 to October 30, 2023. Getting back needed a 269% gain, reached on April 20, 2026, 903 days after the low.

Price behaviour

52-week range
$30.20 – $61.97
From 52-week high
−22.6%
vs 50-day average
+11.5%
vs 200-day average
+0.9%
Volatility (1 year)
61%
Beta vs S&P 500
0.61

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±12.2%
After a week
7 up, 5 down
typical move ±16.9%
After a month
8 up, 4 down
typical move ±20.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −4.9% −0.4% −17.2% −20.0%
May 6, 2026 −1.0% +1.1% −5.5% −7.2%
February 25, 2026 +40.8% +0.3% +44.6% +60.8%
November 6, 2025 +13.5% −1.0% +19.7% +2.5%
August 5, 2025 +8.4% +0.3% +11.0% +18.4%
May 8, 2025 −8.3% +0.6% −6.2% −0.2%
February 26, 2025 −5.1% −1.5% +5.2% +16.4%
November 7, 2024 −27.8% +1.2% −30.0% −28.6%
August 6, 2024 +25.4% +0.2% +37.4% +49.5%
May 8, 2024 −1.1% +0.6% −2.3% +1.2%
February 28, 2024 +4.5% +0.2% +8.0% +17.2%
November 8, 2023 +5.0% −0.7% +15.7% +26.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Clear Secure, Inc.
$400M $600M $800M $1B $1.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $570.9M Revenue (TTM), FY23 Q4: $613.6M Revenue (TTM), FY24 Q1: $660.3M Revenue (TTM), FY24 Q2: $697.1M Revenue (TTM), FY24 Q3: $735.2M Revenue (TTM), FY24 Q4: $770.5M Revenue (TTM), FY25 Q1: $802.8M Revenue (TTM), FY25 Q2: $835.5M Revenue (TTM), FY25 Q3: $866.3M Revenue (TTM), FY25 Q4: $900.8M Revenue (TTM), FY26 Q1: $942.4M Revenue (TTM), FY26 Q2: $1B $1B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $570.9M
FY23 Q4 $613.6M
FY24 Q1 $660.3M
FY24 Q2 $697.1M
FY24 Q3 $735.2M
FY24 Q4 $770.5M
FY25 Q1 $802.8M
FY25 Q2 $835.5M
FY25 Q3 $866.3M
FY25 Q4 $900.8M
FY26 Q1 $942.4M
FY26 Q2 $1B
Revenue growth, TTM YoY Clear Secure, Inc.
10% 20% 30% 40% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 46.4% Revenue growth, TTM YoY, FY23 Q4: 40.3% Revenue growth, TTM YoY, FY24 Q1: 37.8% Revenue growth, TTM YoY, FY24 Q2: 32.4% Revenue growth, TTM YoY, FY24 Q3: 28.8% Revenue growth, TTM YoY, FY24 Q4: 25.6% Revenue growth, TTM YoY, FY25 Q1: 21.6% Revenue growth, TTM YoY, FY25 Q2: 19.8% Revenue growth, TTM YoY, FY25 Q3: 17.8% Revenue growth, TTM YoY, FY25 Q4: 16.9% Revenue growth, TTM YoY, FY26 Q1: 17.4% Revenue growth, TTM YoY, FY26 Q2: 19.8% 19.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 46.4%
FY23 Q4 40.3%
FY24 Q1 37.8%
FY24 Q2 32.4%
FY24 Q3 28.8%
FY24 Q4 25.6%
FY25 Q1 21.6%
FY25 Q2 19.8%
FY25 Q3 17.8%
FY25 Q4 16.9%
FY26 Q1 17.4%
FY26 Q2 19.8%
Operating margin (TTM) Clear Secure, Inc.
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -4.8% Operating margin (TTM), FY23 Q4: 3.3% Operating margin (TTM), FY24 Q1: 8.9% Operating margin (TTM), FY24 Q2: 12.8% Operating margin (TTM), FY24 Q3: 14.3% Operating margin (TTM), FY24 Q4: 16.0% Operating margin (TTM), FY25 Q1: 17.1% Operating margin (TTM), FY25 Q2: 17.8% Operating margin (TTM), FY25 Q3: 19.2% Operating margin (TTM), FY25 Q4: 20.7% Operating margin (TTM), FY26 Q1: 22.4% Operating margin (TTM), FY26 Q2: 25.1% 25.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -4.8%
FY23 Q4 3.3%
FY24 Q1 8.9%
FY24 Q2 12.8%
FY24 Q3 14.3%
FY24 Q4 16.0%
FY25 Q1 17.1%
FY25 Q2 17.8%
FY25 Q3 19.2%
FY25 Q4 20.7%
FY26 Q1 22.4%
FY26 Q2 25.1%
FCF margin (TTM) Clear Secure, Inc.
30% 35% 40% 45% 50% 55% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 31.5% FCF margin (TTM), FY23 Q4: 32.5% FCF margin (TTM), FY24 Q1: 34.2% FCF margin (TTM), FY24 Q2: 38.6% FCF margin (TTM), FY24 Q3: 32.7% FCF margin (TTM), FY24 Q4: 36.8% FCF margin (TTM), FY25 Q1: 37.0% FCF margin (TTM), FY25 Q2: 36.5% FCF margin (TTM), FY25 Q3: 33.4% FCF margin (TTM), FY25 Q4: 38.1% FCF margin (TTM), FY26 Q1: 46.4% FCF margin (TTM), FY26 Q2: 50.8% 50.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 31.5%
FY23 Q4 32.5%
FY24 Q1 34.2%
FY24 Q2 38.6%
FY24 Q3 32.7%
FY24 Q4 36.8%
FY25 Q1 37.0%
FY25 Q2 36.5%
FY25 Q3 33.4%
FY25 Q4 38.1%
FY26 Q1 46.4%
FY26 Q2 50.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Clear Secure took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $901M
  2. Research and development $72.4M · 8.0%
  3. Selling, general and admin $287M · 31.8%
  4. Other operating costs $355M · 39.4%
  5. Operating income $186M · 20.7%
  6. Income tax $37.9M · 4.2%
  7. Interest and other $39.4M · 4.4%
  8. Net income $109M · 12.1%

Shares of revenue. Source: Clear Secure's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 192 231 254 437 614 770 901 1,001
EBITDA −49 −10 −103 −110 42 150 221 286
Operating income −56 −19 −115 −129 20 123 186 251
Net income −54 −9 −36 −66 28 170 109 148
Growth (year on year)
Revenue — +20.0% +10.0% +72.3% +40.3% +25.6% +16.9% +19.8%
EBITDA — — — — — +258.2% +47.7% +62.3%
Operating income — — — — — +511.7% +51.4% +68.6%
Net income — — — — — +503.7% −35.7% −16.4%
Margins
EBITDA margin −25.4% −4.1% −40.4% −25.2% 6.8% 19.4% 24.5% 28.6%
Operating margin −29.2% −8.2% −45.3% −29.5% 3.3% 16.0% 20.7% 25.1%
Net margin −28.2% −4.0% −14.2% −15.0% 4.6% 22.0% 12.1% 14.8%
Free-cash-flow margin 1.0% −12.5% 16.4% 31.3% 32.5% 36.8% 38.1% 50.8%
Cash flow
Cash from operations 17 −12 70 168 225 296 372 543
Capital spending 15 17 28 31 26 12 29 34
Free cash flow 2 −29 42 137 199 284 343 508
Stock-based pay 15 3 37 138 37 35 39 43
Free cash flow after stock pay −13 −32 5 −2 162 248 304 465
Balance sheet
Cash 236 116 280 39 58 67 86 128
Total debt 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −236 −116 −280 −39 −58 −67 −86 −128
Returned to shareholders
Dividends — — 0 0 14 39 48 55
Buybacks 12 210 12 5 70 273 126 1
Total returned 12 210 12 5 84 312 174 56

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $1.6bn
Short-term assets $1.0bnLonger-term assets $555m
What it owes, and who funded it · $1.5bn
Short-term liabilities $984mLonger-term liabilities $351mShareholders' equity $206m
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $984m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $351m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Clear Secure, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$1.2M
Dividends (TTM)
$54.5M
Returned to shareholders
11%
of free cash flow
Buybacks, last 3 fiscal years
$469M
Total shareholder yield
1.1%
dividends 1.1% + buybacks 0.0% of market value
Dividend payout ratio
37%
of net income paid out
R&D spending
7.2%
of revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated YOU PRGS WK ALRM TTAN APPF Median
Revenue, last 12 months $1.0bn $1000m $966m $1.1bn $1.1bn $1.1bn $482m
Revenue growth, last 12 months 19.8% 6.4% 19.7% 8.7% 22.9% 20.0% 12.0%
Revenue growth, 3-year average 23.9% 14.0% 18.4% 7.3% — 23.8% 11.1%
Revenue growth, latest quarter 26.6% −1.5% 18.6% 9.2% 20.9% 18.6% 11.9%
Gross margin — 82.2% 80.2% 65.8% 71.1% 59.9% 69.2%
Operating margin 25.1% 17.7% 3.3% 12.8% −13.0% 18.8% 1.1%
Operating margin, 3-year average 18.6% 16.5% −5.6% 11.7% −21.4% 17.3% −0.8%
Net margin 14.8% 9.2% 4.9% 11.1% −12.1% 15.6% 2.1%
Cash from operations / revenue 54.2% 32.8% 20.9% 18.8% 13.2% 26.1% 18.2%
Free-cash-flow margin 50.8% 31.9% 20.7% 17.6% 12.8% 25.9% 15.0%
Free-cash-flow margin, 3-year average 42.0% 27.5% 14.2% 17.5% — 24.2% 16.2%
Stock pay / revenue 4.3% 7.2% 12.9% 2.9% 20.6% 6.8% 9.3%
Change in share count — −4.6% 1.7% −5.3% — −2.1% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 19.8% 12.0% 56 of 184
Change in growth rate Growth +2.4pp +0.2pp 49 of 184
Operating margin Profitability 25.1% 1.1% 21 of 181
Net margin Profitability 14.8% 2.1% 45 of 185
Free-cash-flow margin Cash generation 50.8% 15.2% 2 of 180
Stock pay as % of revenue Cash generation 4.3% 9.3% 37 of 177

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$5.4B
Institutions reporting
446
Shares held vs prior quarter
▲ 2.5%
Positions opened / closed
76 / 47

Top buyers and sellers, Q2 2026: 259 institutions bought and 172 sold ; the biggest buyer was Wedge Capital Management L L P (+1.5M shares) and the biggest seller Durable Capital Partners LP (−3.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $887M 15.9M 16.3% ▲ 5.2%
Vanguard Portfolio Management LLC $433M 7.8M 8.0% ▲ 9.2%
Vanguard Capital Management LLC $237M 4.3M 4.4% ▲ 6.3%
State Street Corp $206M 3.7M 3.8% ▲ 8.6%
Renaissance Technologies LLC $183M 3.3M 3.4% ▼ 2.3%
Geode Capital Management, LLC $167M 3.0M 3.1% ▲ 12.3%
Goldman Sachs Group Inc $158M 2.8M 2.9% ▼ 0.3%
Arrowstreet Capital, Limited Partnership $150M 2.7M 2.8% ▲ 0.1%
First Trust Advisors LP $144M 2.6M 2.7% ▼ 9.4%
Morgan Stanley $143M 2.6M 2.6% ▼ 1.4%
D. E. Shaw & Co., Inc. $136M 2.4M 2.5% ▲ 68.1%
FMR LLC $132M 2.4M 2.4% ▲ 99.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Clear Secure, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $191M 78 trades by 8 insiders · 99% under pre-set plans
Net ▼ $191M net selling
Insider Date Trade Shares Price Value
Liu Dennis W. Chief Accounting Officer September 3, 2026 Sell pre-set plan 2,104 $44.47 $93,565
Mclaughlin Kyle EVP, Aviation September 3, 2026 Sell pre-set plan 4,499 $44.47 $200,071
Barkin Michael Z President September 3, 2026 Sell pre-set plan 11,444 $45.00 $514,980
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 12,110 $66.61 $806,647
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 3,096 $65.35 $202,324
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 9,803 $64.48 $632,097
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 2,430 $63.39 $154,038
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 1,200 $62.05 $74,460
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 6,006 $67.67 $406,426
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 500 $68.45 $34,225
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 71,487 $61.11 $4.4M
Alclear Investments, Llc Director August 5, 2026 Sell pre-set plan 217,272 $60.52 $13.1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Clear Secure, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 25, 2026
  • November 6, 2025
  • August 5, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Clear Secure, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Clear Secure, Inc. in brief

What does Clear Secure, Inc. do?
Clear Secure, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Clear Secure, Inc.'s stock ticker?
Clear Secure, Inc. trades under the ticker YOU on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Clear Secure, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Clear Secure, Inc. reported revenue of $1B, 19.8% higher than a year earlier, according to its SEC filings.
What is Clear Secure, Inc.'s free cash flow?
Clear Secure, Inc.'s free-cash-flow margin is 50.8% of revenue over the trailing twelve months, ranking 2 of the 180 application software companies we cover.
Who are Clear Secure, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Does Clear Secure, Inc. pay a dividend?
Yes: Clear Secure, Inc. paid $54.5M in dividends over the trailing twelve months, a dividend yield of 1.10% and a payout ratio of 36.9%.
Who are Clear Secure, Inc.'s competitors?
In our Application Software peer group, the companies closest to Clear Secure, Inc. are Progress Software Corp, Workiva Inc, Alarm.com Holdings, Inc., Servicetitan, Inc. and Appfolio Inc. The side-by-side comparison below sets their revenue, margins and growth against Clear Secure, Inc.'s.
Are insiders buying or selling Clear Secure, Inc. stock?
Over the last 12 months, Clear Secure, Inc.'s directors and officers reported 0 open-market purchases and 78 sales on Form 4. The insider trading page charts every trade.
When is Clear Secure, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Clear Secure, Inc. announces its own schedule.