Clear Secure, Inc.YOU
NYSE • Technology
$54.98
P/E
43.29
PEG
0.82
FCF Yield
4.7%
Rev Growth YoY
+19.7% YoY
Gross Margin
63.7%
Health Score
8/10
D/E Ratio
—
Confidence
MEDIUM
Business Snapshot
Clear Secure operates an identity verification platform best known for its airport security expedited lane service (Clear Plus), alongside expanding digital identity solutions for events, stadiums, and healthcare. The company dominates the U.S. airport identity verification market with network effects that grow as more members and locations join its ecosystem. With a market capitalisation of $7.29 billion and TTM revenue of $942.41 million, the company is a mid-cap growth play in the software-application industry. A defining characteristic is its zero-debt balance sheet combined with high free cash flow generation, enabling aggressive reinvestment without dilution risk.
Financial Health
Gross margin stands at 63.7% after a sharp decline from 146.0% in the prior year, which warrants monitoring for revenue mix changes or cost pressures. Net margin of 13.0% is solid and reflects improving operating leverage despite the gross margin compression...
Risk Assessment
- VALUATION — Price/Book of 29.62x is extremely elevated, indicating the market assigns a high premium to intangible assets relative to book equity.
- MARGIN — Gross margin dropped from 146.0% in the prior year to 63.7%, a significant decline that may reflect a shift toward lower-margin segments or increased cost of revenue.
- VALUATION DIVERGENCE — The FMP DCF fair value of $53.66 and the Python DCF estimate of $121.19 differ by more than 100%, creating substantial uncertainty around intrinsic value.
- TECHNICALS — RSI, MACD, and moving average data unavailable for this period; momentum cannot be independently confirmed....
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