Clear Secure, Inc. (YOU)
NYSE:YOU
Top Page
Clear Secure
(NYSE:YOU)
Select Model
Select Model
Rating:79Outperform
Price Target:
$54.00
▲(10.23% Upside)
Action:ReiteratedDate:03/28/26
The score is driven primarily by strong financial performance—especially robust and improving free cash flow and a de-risked balance sheet with zero debt—supported by bullish earnings-call guidance and enhanced capital returns. Technicals are generally constructive, while valuation (P/E ~27) is the main moderating factor alongside the balance-sheet equity trend and exposure to travel/government disruption risk.
Positive Factors
Strong cash generation
Sustained operating cash flow and sizable free cash flow in 2025 indicate durable internal funding for growth, capex, and shareholder returns. Reliable FCF reduces reliance on external financing and supports reinvestment in product, partnerships, and repurchases over the next 2–6 months and beyond.
Negative Factors
Travel & government disruption exposure
A meaningful share of usage depends on travel volumes and uninterrupted airport/agency operations. Structural or episodic travel disruptions can reduce utilization and membership value perception, pressuring revenue and margin durability until the company further diversifies away from travel reliance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained operating cash flow and sizable free cash flow in 2025 indicate durable internal funding for growth, capex, and shareholder returns. Reliable FCF reduces reliance on external financing and supports reinvestment in product, partnerships, and repurchases over the next 2–6 months and beyond.
Read all positive factors
Clear Secure (YOU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.53B
Dividend Yield2.11%
Average Volume (3M)1.93M
Price to Earnings (P/E)27.2
Beta (1Y)0.41
Revenue Growth17.83%
EPS Growth118.70%
CountryUS
Employees4,022
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.31
Shares Outstanding98,943,680
10 Day Avg. Volume1,878,085
30 Day Avg. Volume1,928,218
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)18.84
Price to Sales (P/S)3.72
P/FCF Ratio9.76
Enterprise Value/Market Cap0.67
Enterprise Value/Revenue4.82
Enterprise Value/Gross Profit5.62
Enterprise Value/Ebitda18.70
Forecast
1Y Price Target
$58.40Price Target Upside19.21% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)1.4
Revenue Forecast (FY)$1.04B
Clear Secure Business Overview & Revenue Model
Company Description
Clear Secure, Inc. provides a member-centric secure identity platform in the United States. The company's secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking. It also ...
How the Company Makes Money
Clear Secure makes money primarily through recurring subscription revenue from consumer memberships, most notably CLEAR Plus, where individuals pay an annual fee for access to CLEAR’s identity-based expedited entry experience at participating airp...
Clear Secure Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call emphasized strong growth across bookings, revenue, membership scale, enterprise momentum (ClearOne), and significant margin and free cash flow expansion. Operational improvements, product launches (app, eGates, Concierge), and large partnerships (American Express, CMS, Mount Sinai) reinforce multi-channel growth. Lowlights were limited to a one-time billing cleanup, exposure to travel-sector disruptions and government risk, and the broader escalating identity-threat environment. Overall the positives—robust top-line growth, record profitability, strong cash generation, and enterprise traction—substantially outweigh the limited operational and market risks discussed.Positive Updates
Strong Top-Line Growth (Q4 and FY2025)
Q4 revenue of $240.8M, up 16.7% year-over-year; full-year 2025 revenue of $900.8M, up 16.9% year-over-year.
Negative Updates
Billing System Migration — One-Time Account Cleanup
Q4 active CLEAR Plus members (7.6M, +6% YoY) reflected a one-time cleanup of lapsed accounts as part of a billing system transformation. Management stated this had no impact on revenue, cash flow, or other financial measures, but it was an operational disruption to reported active member counts.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Top-Line Growth (Q4 and FY2025)
Q4 revenue of $240.8M, up 16.7% year-over-year; full-year 2025 revenue of $900.8M, up 16.9% year-over-year.
Read all positive updates
Company Guidance
Clear guided full‑year 2026 free cash flow of at least $440.0M (≈$100M higher than 2025, at least +28% YoY), expects GAAP P&L taxes of 18–20%, and projects accelerating top‑line growth and margin expansion; Q1 2026 revenue is guided to $242–245M (midpoint $243.5M, ~15.2% YoY growth) and total bookings to $248–253M (midpoint $250.5M, ~20.9% YoY growth). The company also expects to exit 2026 with >$1.0B of cash and no debt, raised the quarterly dividend 20% to $0.15/share, and approved a $125M increase to its repurchase program (total capacity ≈$250M).Clear Secure Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
88
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 900.78M | 770.49M | 613.58M | 437.43M | 253.95M |
| Gross Profit | 772.93M | 489.34M | 382.11M | 276.38M | 149.02M |
| EBITDA | 240.69M | 149.67M | 41.79M | -110.27M | -102.58M |
| Net Income | 109.17M | 169.68M | 28.11M | -65.57M | -36.08M |
Balance Sheet | |||||
| Total Assets | 1.30B | 1.19B | 1.05B | 1.04B | 812.75M |
| Cash, Cash Equivalents and Short-Term Investments | 700.17M | 609.50M | 723.10M | 704.75M | 615.34M |
| Total Debt | 0.00 | 121.25M | 127.38M | 130.11M | 0.00 |
| Total Liabilities | 1.10B | 956.99M | 675.78M | 526.60M | 273.28M |
| Stockholders Equity | 177.73M | 198.35M | 233.33M | 291.06M | 277.61M |
Cash Flow | |||||
| Free Cash Flow | 343.11M | 283.67M | 198.90M | 136.40M | 40.74M |
| Operating Cash Flow | 372.45M | 295.68M | 225.03M | 168.31M | 69.71M |
| Investing Cash Flow | -97.10M | 113.78M | -15.51M | -359.59M | -403.20M |
| Financing Cash Flow | -257.33M | -401.55M | -216.01M | -48.87M | 503.40M |
Clear Secure Technical Analysis
Neutral
48.99
Price Trends
42.58
Positive
38.94
Positive
35.52
Positive
Market Momentum
2.00
Positive
52.73
Neutral
40.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For YOU, the sentiment is Neutral. The current price of 48.99 is below the 20-day moving average (MA) of 49.69, above the 50-day MA of 42.58, and above the 200-day MA of 35.52, indicating a neutral trend. The MACD of 2.00 indicates Positive momentum. The RSI at 52.73 is Neutral, neither overbought nor oversold. The STOCH value of 40.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for YOU.
Clear Secure Risk Analysis
Clear Secure disclosed 49 risk factors in its most recent earnings report. Clear Secure reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clear Secure Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $6.53B | 27.21 | 77.38% | 2.11% | 17.83% | 118.70% | |
69 Neutral | $3.74B | -143.66 | -4.43% | ― | 35.87% | 85.20% | |
69 Neutral | $6.04B | -66.55 | -10.89% | ― | 24.19% | 58.84% | |
67 Neutral | $2.87B | 86.24 | 8.62% | ― | 13.93% | ― | |
63 Neutral | $3.58B | ― | -0.63% | ― | 11.63% | 50.72% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $3.16B | ― | 56.70% | ― | 19.86% | 8.58% |
* Technology Sector Average
YOU
Clear Secure
46.17
19.67
74.21%
QTWO
Q2 Holdings
45.87
-28.86
-38.62%
WK
Workiva
52.36
-14.05
-21.16%
BILL
Bill.com Holdings
34.71
-6.87
-16.52%
ZETA
Zeta Global Holdings Corp
14.61
2.55
21.14%
OS
Onestream, Inc. Class A
24.00
4.43
22.64%
Clear Secure Corporate Events
Executive/Board Changes
Clear Secure Announces Departure of General Counsel Haaland
Neutral
Mar 19, 2026
On March 19, 2026, Clear Secure, Inc. announced that its General Counsel, Lynn Haaland, will depart the company, with her last day set for April 3, 2026. The company agreed to provide Haaland with an additional 12 months of salary in consideration...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.