In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Clearwater Analytics Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was $-2.30.
The historical rank and industry rank for Clearwater Analytics Holdings's Net Current Asset Value or its related term are showing as below:
During the past 7 years, the highest Price-to-Net-Current-Asset-Value Ratio of Clearwater Analytics Holdings was 28.97. The lowest was 11.92. And the median was 22.34.
CWAN's Price-to-Net-Current-Asset-Value is not ranked *
in the Software industry.
Industry Median: 4.79 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
Clearwater Analytics Holdings (NYSE:CWAN) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Clearwater Analytics Holdings Net Current Asset Value Related Terms
Clearwater Analytics Holdings Net Current Asset Value Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Clearwater Analytics Holdings Net Current Asset Value Chart
CWAN vs IDCC, CHYM, TTAN: Net Current Asset Value Comparison
For the Software - Application subindustry, Clearwater Analytics Holdings's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Clearwater Analytics Holdings Price-to-Net-Current-Asset-Value vs Software Industry
For the Software industry and Technology sector, Clearwater Analytics Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Clearwater Analytics Holdings's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $-2.30 mean?
Clearwater Analytics Holdings (CWAN) has a Net Current Asset Value of $-2.30 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Clearwater Analytics Holdings and its competitors. Over the past decade, Clearwater Analytics Holdings' Net Current Asset Value has ranged from 11.92 to 28.97. According to the industry distribution chart, Clearwater Analytics Holdings ranks #999999 out of 1756 companies in the Software industry.
Is Clearwater Analytics Holdings' Net Current Asset Value too high?
Clearwater Analytics Holdings' current Net Current Asset Value is $-2.30. Over the past 10 years, this metric has ranged from a low of 11.92 to a high of 28.97. Based on the distribution chart, Clearwater Analytics Holdings ranks #999999 out of 1756 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Clearwater Analytics Holdings has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Clearwater Analytics Holdings' Net Current Asset Value compare to IDCC and CHYM?
According to the Software industry distribution chart, Clearwater Analytics Holdings ranks #999999 out of 1756 companies for Net Current Asset Value. This places Clearwater Analytics Holdings in the lower half of its industry. The industry median Net Current Asset Value is 4.79. Historically, Clearwater Analytics Holdings' own Net Current Asset Value has ranged from 11.92 to 28.97 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Software company?
The median Net Current Asset Value among Software companies is 4.79, based on 1,756 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Clearwater Analytics Holdings and its competitors. For the Software industry, the median Net Current Asset Value is 4.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Clearwater Analytics Holdings's current Net Current Asset Value is $-2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clearwater Analytics Holdings stock overvalued right now?
Based on GuruFocus' analysis, Clearwater Analytics Holdings (CWAN) is currently considered Modestly Undervalued. The stock's GF Value™ is $32.05, compared to a current price of $24.56 — trading 23.4% below its estimated fair value. The current Net Current Asset Value is $-2.30. Clearwater Analytics Holdings' overall GF Score™ is 60/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Clearwater Analytics Holdings (CWAN), the current Net Current Asset Value is $-2.30 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Clearwater Analytics Holdings (CWAN) Overvalued in 2026?
Based on GuruFocus' analysis, Clearwater Analytics Holdings stock appears to be undervalued.
The current stock price of $24.56 is trading 23.4% below its estimated GF Value™ of $32.05.
GuruFocus considers Clearwater Analytics Holdings to be Modestly Undervalued.
Key valuation signals for CWAN:
Net Current Asset Value: $-2.30
GF Value™: $32.05 vs. price of $24.56 (23.4% below fair value)
No single metric tells the full story. See the CWAN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Clearwater Analytics Holdings Business Description
Clearwater Analytics describes its mission as aiming to be the world's most trusted and comprehensive technology platform for the entire investment cycle. Clearwater has historically focused on back-office functions such as investment accounting, but with acquisitions such Enfusion, Beacon, and Bistro, the firm has broadened its focus with front-office and middle-office capabilities. Clearwater primarily serves insurance companies, asset managers, hedge funds, and corporate treasuries. Pro forma for Enfusion, about 76% of Clearwater's revenue is generated in the US.
60GF Score
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