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Clarivate

CLVT
31
Information Technology Services · Technology
Price
$2.08
+0.01 (+0.48%)
Market Cap
$1.33B
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Mixed
Stability
Mixed
Valuation
Data not available

Share count rising — dilution

+5.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 640.8M (2021) → 673.3M (2025)

Winston Score History

The full picture

Clarivate is a data and analytics company that helps scientists, researchers, lawyers, and businesses find and use specialized information. Its main products include Web of Science (a database of academic research), Derwent (patent data), and Cortellis (life sciences intelligence). It serves universities, pharmaceutical companies, law firms, and corporations that need reliable data to make decisions about research, patents, and intellectual property.

Clarivate makes most of its money through subscriptions, where customers pay annually to access its databases and software tools. It operates globally, with significant revenue from North America, Europe, and Asia, and generates roughly $2.5 billion in annual revenue. Its moat comes from the depth and history of its proprietary datasets, which are difficult and expensive to replicate. However, the company carries a heavy debt load from past acquisitions, and its low ROIC of 1.3% signals that it has struggled to turn that scale into strong returns — managing that debt while growing revenue remains its central challenge.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-5.5% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-281.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

47.7%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$218M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Clarivate's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
68.4%
Premium pricing power — 68.4% gross margin
Profit after running costs
Operating Margin
-34.1%
Losing money on operations — -34.1%
Return on the money invested
ROCE
-1.0%
Weak — -1.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-3.5%
Shrinking sales (-3.5% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
13.6%
Converts sales into free cash efficiently (13.6%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.94
Moderate — manageable debt (0.94)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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