Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price24.56 USD
Fair value23.49
Ethical score70.0/100
Value readFairas of 4 Nov 2026
Our investment reviews on this name
2026-07-02Read Accumulation24.33+0.9% to today ✓First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Clearwater Analytics Holdings, Inc. holds its Accumulation at $24.56. Consolidating, no directional conviction, held for 92 days.
As held on the ledger · 2026-11-04
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 92 days
Price at the screen
$24.56
Valuation
N/A trailing · 28.03 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.60
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
28.38%
Below 33%
Interest-bearing debt is just 28.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
6.74%
Below 49%
Money owed to the company is 6.7% of assets, under the 49% limit.
Pass
Revenue purity
1.91%
Below 5%
Only 1.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Clearwater Analytics Holdings, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 28%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today CWAN passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 4 Nov 2026: it trades above our $23.49 fair value estimate, 74.40% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. The price runs 4.6% above the base estimate.
Where our models see it going: fair-value estimate $23.49, with a range of $21.60 to $28.03, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
When fund data needs cleaning, this SaaS steps in
Every big asset manager ends up drowning in mismatched numbers from custodians, brokers and banks. Clearwater Analytics turns that mess into clean, reconciled reports through its SaaS platform. The business is expanding revenue at 74 percent a year, which looks impressive on the surface and explains why five analysts still sit on a hold rating with a $25 median target.
Yet the company still loses money, posting a negative 6 percent profit margin and negative 3 percent return on equity. At a forward price-to-earnings multiple of 28 times and a share price of $24.56 sitting above our $23.49 fair value, there is no margin of safety. We therefore pass, even though the ethical screen raises no concerns.
The risk is straightforward: rapid top-line growth has not yet produced sustainable profits, and paying a premium multiple for that outcome leaves little room for disappointment if growth slows. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CWAN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Accumulation$24.56+0.0%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-10-15Accumulation$24.56+0.0%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-10-02Accumulation$24.56+0.0%Entry 6
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-08-26Accumulation$24.56+0.0%Entry 5
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-07-25Accumulation$24.56+0.9%Entry 4
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-07-18Accumulation$24.33+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 2%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (7 analysts) rates it hold, with a mean price target of $24.
2026-07-03Accumulation$24.33+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$24.33Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
