Recent News
On August 5, 2026 CLEAR announced a new Corporate Membership program aimed at business travelers. A June 23, 2026 amendment to the company’s credit agreement by Alclear Holdings, LLC appeared in filings reported the week of June 25, 2026. An insider sale by Alclear Investments, LLC of 34,309 shares reported June 25, 2026 drew market notice.
Technical Analysis
ADX reads 14.47, indicating no strong trend; directional indicators show DI- at 27.52 and increasing while DI+ at 17.86 moves lower, implying a seller-dominant directional tilt despite low trend strength.
MACD stands at -2.22 with the MACD line decreasing and below the signal line (-2.09), consistent with bearish momentum and declining short-term momentum convergence.
MRO sits at 2.1 with a recorded dip-and-reversal pattern; the positive MRO indicates price currently sits above WMDST’s short-term target, which mechanically raises the likelihood of downward pressure on price.
RSI near 37.3 and decreasing signals growing downside momentum without an oversold reversal signal yet; momentum remains biased lower rather than indicating immediate rebound strength.
Price trades below the 12-day EMA ($40.97) and both the 20-day ($41.83) and 26-day EMA ($43.24), and well below the 50-day ($47.73) and 200-day ($46.52) averages, reinforcing a near-term downward price bias versus its moving-average framework. The close ($38.90) sits at or just beneath the lower 1× Bollinger band ($39.45), showing compressed volatility nearer to the lower volatility boundary.
Volume on the most recent session (1,879,690) runs below the 10-day average (2,115,460) and near the 200-day average (1,634,080), suggesting recent moves lack broad intraday conviction. Short-term beta (-0.21 over 42 days) contrasts with a 52-week beta of 0.71, indicating weaker correlation to the market in the last six weeks versus the year-long relationship.
Fundamental Analysis
Revenue totaled $277.76M with YoY revenue growth of 155.32% and QoQ growth of 92.26%, reflecting strong top-line acceleration. Gross margin equals 68.58%, up 7.06 percentage points YoY, supporting scalable unit economics as revenue rises.
Operating income (EBIT) reached $82.95M and operating margin stands at 29.87%, which sits above the industry peer high of 26.90% and above the industry peer mean and median. QoQ operating margin improved by 21.87% and YoY by 54.02%, reinforcing margin expansion as revenue scales.
EPS came in at $0.57 versus an estimate of $0.47, an EPS surprise of +21.28%, with forward EPS of $0.6513 and a forward PE around 84.68. Trailing PE registers 94.68, and P/B equals $26.72 while P/S equals 19.84—multiples that price substantial growth expectations despite the strong margin profile.
Liquidity and cash flow remain strengths: cash and short-term investments total $959.27M, operating cash flow $201.17M, and free cash flow $188.98M (free cash flow yield ~3.43%). The cash ratio stands at 0.98 and current ratio at 1.04, modestly above industry peer mean current ratio, supporting near-term obligations. Total debt measures $109.77M with debt-to-assets ~6.96% and debt-to-EBITDA ~1.22, indicating conservative leverage. Interest coverage near 10.99x sits below the industry peer mean but remains comfortable in absolute terms.
Asset efficiency shows an asset turnover ratio of 0.185 (above the industry peer mean), and return on equity of 24.27% outperforms the industry peer mean. WMDST values the stock as under-valued based on the combined margin profile, cash generation, and growth trajectory even after accounting for elevated valuation multiples.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-05 |
| NEXT REPORT DATE: | 2026-11-04 |
| CASH FLOW | Begin Period Cash Flow | $ 173.5 M |
| Operating Cash Flow | $ 201.2 M | |
| Capital Expenditures | $ -12.19 M | |
| Change In Working Capital | $ 99.5 M | |
| Dividends Paid | $ -20.04 M | |
| Cash Flow Delta | $ -42.45 M | |
| End Period Cash Flow | $ 131.1 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 277.8 M | |
| Forward Revenue | $ 92.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 87.3 M | |
| Depreciation | $ 6.5 M | |
| Depreciation and Amortization | $ 6.7 M | |
| Research and Development | $ 17.8 M | |
| Total Operating Expenses | $ 194.8 M | |
| PROFITABILITY | ||
| Gross Profit | $ 190.5 M | |
| EBITDA | $ 89.6 M | |
| EBIT | $ 83.0 M | |
| Operating Income | $ 83.0 M | |
| Interest Income | $ 7.9 M | |
| Interest Expense | — | |
| Net Interest Income | $ 7.9 M | |
| Income Before Tax | $ 91.4 M | |
| Tax Provision | $ 19.0 M | |
| Tax Rate | 20.8 % | |
| Net Income | $ 50.0 M | |
| Net Income From Continuing Operations | $ 72.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.47 | |
| EPS Actual | $ 0.57 | |
| EPS Difference | $ 0.10 | |
| EPS Surprise | 21.277 % | |
| Forward EPS | $ 0.65 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.6 B | |
| Intangible Assets | $ 65.2 M | |
| Net Tangible Assets | $ 141.0 M | |
| Total Current Assets | $ 1.0 B | |
| Cash and Short-Term Investments | $ 959.3 M | |
| Cash | $ 128.2 M | |
| Net Receivables | $ 1.3 M | |
| Inventory | — | |
| Long-Term Investments | $ 6.8 M | |
| LIABILITIES | ||
| Accounts Payable | $ 6.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 983.9 M | |
| Net Debt | — | |
| Total Debt | $ 109.8 M | |
| Total Liabilities | $ 1.3 B | |
| EQUITY | ||
| Total Equity | $ 206.2 M | |
| Retained Earnings | $ 158.3 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.02 | |
| Shares Outstanding | 102.113 M | |
| Revenue Per-Share | $ 2.72 | |
| VALUATION | Market Capitalization | $ 5.5 B |
| Enterprise Value | $ 4.7 B | |
| Enterprise Multiple | 52.017 | |
| Enterprise Multiple QoQ | -13.734 % | |
| Enterprise Multiple YoY | 5.929 % | |
| Enterprise Multiple IPRWA | high: 87.184 median: 87.184 mean: 78.999 YOU: 52.017 low: -18.887 |
|
| EV/R | 16.782 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.653 | |
| Asset To Liability | 1.182 | |
| Debt To Capital | 0.347 | |
| Debt To Assets | 0.07 | |
| Debt To Assets QoQ | -11.107 % | |
| Debt To Assets YoY | -28.637 % | |
| Debt To Assets IPRWA | high: 0.482 median: 0.252 mean: 0.244 YOU: 0.07 low: 0.0 |
|
| Debt To Equity | 0.532 | |
| Debt To Equity QoQ | -11.342 % | |
| Debt To Equity YoY | -43.847 % | |
| Debt To Equity IPRWA | high: 2.282 mean: 0.747 median: 0.688 YOU: 0.532 low: -0.865 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 26.72 | |
| Price To Book QoQ | 2.342 % | |
| Price To Book YoY | 11.309 % | |
| Price To Book IPRWA | YOU: 26.72 high: 15.222 median: 15.222 mean: 9.661 low: -6.678 |
|
| Price To Earnings (P/E) | 94.682 | |
| Price To Earnings QoQ | -7.445 % | |
| Price To Earnings YoY | 23.46 % | |
| Price To Earnings IPRWA | high: 101.723 median: 101.723 YOU: 94.682 mean: 93.727 low: -24.624 |
|
| PE/G Ratio | 4.45 | |
| Price To Sales (P/S) | 19.841 | |
| Price To Sales QoQ | 3.731 % | |
| Price To Sales YoY | 49.491 % | |
| Price To Sales IPRWA | YOU: 19.841 high: 16.772 median: 16.772 mean: 12.304 low: 0.625 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 84.677 | |
| Forward PE/G | 3.98 | |
| Forward P/S | 62.322 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.454 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.185 | |
| Asset Turnover Ratio QoQ | -0.275 % | |
| Asset Turnover Ratio YoY | -3.351 % | |
| Asset Turnover Ratio IPRWA | high: 0.552 YOU: 0.185 median: 0.123 mean: 0.118 low: 0.026 |
|
| Receivables Turnover | 238.931 | |
| Receivables Turnover Ratio QoQ | 41.043 % | |
| Receivables Turnover Ratio YoY | -14.756 % | |
| Receivables Turnover Ratio IPRWA | YOU: 238.931 high: 4.717 median: 3.356 mean: 2.995 low: 0.165 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 0.382 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -6.395 | |
| Cash Conversion Cycle Days QoQ | -9.375 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 37.067 mean: 3.978 median: 3.083 YOU: -6.395 low: -32.797 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 7.0 | |
| CapEx To Revenue | -0.044 | |
| CapEx To Depreciation | -1.861 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 206.2 M | |
| Net Invested Capital | $ 206.2 M | |
| Invested Capital | $ 206.2 M | |
| Net Tangible Assets | $ 141.0 M | |
| Net Working Capital | $ 39.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.975 | |
| Current Ratio | 1.04 | |
| Current Ratio QoQ | 3.445 % | |
| Current Ratio YoY | 19.316 % | |
| Current Ratio IPRWA | high: 1.371 YOU: 1.04 median: 0.985 mean: 0.985 low: 0.535 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 1.225 | |
| Cost Of Debt | 5.407 % | |
| Interest Coverage Ratio | 10.987 | |
| Interest Coverage Ratio QoQ | 33.791 % | |
| Interest Coverage Ratio YoY | 94.924 % | |
| Interest Coverage Ratio IPRWA | high: 36.222 median: 36.222 mean: 30.692 YOU: 10.987 low: 1.376 |
|
| Operating Cash Flow Ratio | 0.057 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 6.776 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.497 | |
| Dividend Payout Ratio | 0.4 | |
| Dividend Rate | $ 0.20 | |
| Dividend Yield | 0.004 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 10.979 % | |
| Revenue Growth | 9.784 % | |
| Revenue Growth QoQ | 92.258 % | |
| Revenue Growth YoY | 155.324 % | |
| Revenue Growth IPRWA | high: 18.996 % YOU: 9.784 % median: 3.589 % mean: 3.212 % low: -30.15 % |
|
| Earnings Growth | 21.277 % | |
| Earnings Growth QoQ | 878.703 % | |
| Earnings Growth YoY | 261.731 % | |
| Earnings Growth IPRWA | high: 78.481 % YOU: 21.277 % median: 0.302 % mean: -0.388 % low: -109.804 % |
|
| MARGINS | ||
| Gross Margin | 68.575 % | |
| Gross Margin QoQ | 3.35 % | |
| Gross Margin YoY | 7.063 % | |
| Gross Margin IPRWA | high: 76.464 % median: 76.464 % mean: 70.079 % YOU: 68.575 % low: -2.624 % |
|
| EBIT Margin | 29.865 % | |
| EBIT Margin QoQ | 21.868 % | |
| EBIT Margin YoY | 54.015 % | |
| EBIT Margin IPRWA | YOU: 29.865 % high: 26.898 % median: 25.189 % mean: 21.465 % low: 7.622 % |
|
| Return On Sales (ROS) | 29.865 % | |
| Return On Sales QoQ | 21.868 % | |
| Return On Sales YoY | 54.015 % | |
| Return On Sales IPRWA | high: 61.291 % median: 61.291 % mean: 52.618 % YOU: 29.865 % low: -30.401 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 189.0 M | |
| Free Cash Flow Yield | 3.429 % | |
| Free Cash Flow Yield QoQ | -10.54 % | |
| Free Cash Flow Yield YoY | -15.292 % | |
| Free Cash Flow Yield IPRWA | high: 4.619 % YOU: 3.429 % mean: 1.105 % median: 0.967 % low: -4.261 % |
|
| Free Cash Growth | 1.886 % | |
| Free Cash Growth QoQ | -284.54 % | |
| Free Cash Growth YoY | -93.543 % | |
| Free Cash Growth IPRWA | high: 135.683 % median: 133.79 % mean: 97.952 % YOU: 1.886 % low: -177.606 % |
|
| Free Cash To Net Income | 3.776 | |
| Cash Flow Margin | 20.239 % | |
| Cash Flow To Earnings | 1.123 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.336 % | |
| Return On Assets QoQ | 17.176 % | |
| Return On Assets YoY | 54.588 % | |
| Return On Assets IPRWA | high: 13.75 % median: 5.935 % mean: 5.012 % YOU: 3.336 % low: -0.028 % |
|
| Return On Capital Employed (ROCE) | 13.954 % | |
| Return On Equity (ROE) | 0.243 | |
| Return On Equity QoQ | 15.938 % | |
| Return On Equity YoY | 19.108 % | |
| Return On Equity IPRWA | YOU: 0.243 high: 0.228 median: 0.162 mean: 0.152 low: -0.125 |
|
| DuPont ROE | 25.562 % | |
| Return On Invested Capital (ROIC) | 31.836 % | |
| Return On Invested Capital QoQ | 19.41 % | |
| Return On Invested Capital YoY | 6.187 % | |
| Return On Invested Capital IPRWA | YOU: 31.836 % high: 10.569 % median: 9.894 % mean: 9.224 % low: -5.184 % |
|