# Clarivate Plc (CLVT)

> Source: Nexqual · https://nexqual.com/CLVT · data as of 2026-10-23 13:30 UTC · cite as "Nexqual, Clarivate Plc (CLVT), nexqual.com/CLVT" · informational, not investment advice.

**Price:** USD 1.88 (+1.62% today) · US market open, as of October 23, 2026 at 13:30 UTC; quotes may be delayed. Prev close 1.85 · day 1.86–1.88 · 52w 1.42–3.87 · market cap $1.20B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.41B, net income -$334M (-13.8% margin), free cash flow $328M (SEC filings).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $4.8M; 1 not under a Rule 10b5-1 plan ($4.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $1.7M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (8 analysts), mean target USD 2.97 (range 2–5.5).
- Total return with dividends: 1Y -49.2% vs S&P 500 +14.9%; 5Y -92.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.16, revenue estimate $490M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.88B | $2.66B | $2.63B | $2.56B | $2.46B | $2.41B |
| Gross profit | $1.25B | $1.71B | $1.72B | $1.69B | $1.62B | — |
| Operating income | -$87.0M | -$3.93B | -$735M | -$276M | $71.5M | -$84.6M |
| Net income | -$271M | -$3.96B | -$911M | -$637M | -$201M | -$334M |
| EPS (diluted) | -$0.61 | -$6.24 | -$1.47 | -$0.96 | -$0.30 | — |
| Free cash flow | $205M | $306M | $502M | $358M | $365M | $328M |
| Gross margin | 66.6% | 64.1% | 65.5% | 66.0% | 66.0% | — |
| Operating margin | -4.6% | -147.6% | -27.9% | -10.8% | 2.9% | -3.5% |
| Net margin | -14.4% | -148.9% | -34.7% | -24.9% | -8.2% | -13.8% |
| Revenue growth | +49.7% | +41.7% | -1.2% | -2.7% | -4.0% | — |
| Cash + short-term investments | $431M | $357M | $371M | $295M | $329M | — |
| Total debt | $5.57B | $5.07B | $4.77B | $4.57B | $4.47B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.5x · EV/EBITDA 7.9x · EV/Sales 2.2x · P/FCF 3.7x · P/B 0.3x · FCF yield 27.24% · Earnings yield -27.77% · Net debt $4.03B · EV $5.24B

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-03 | Snyder Andrew Miles | Director | 2,489,618 | $4.8M | 9.5% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $1.7M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-06…2026-08-07 | Cornick Kenneth L. | Director | 900,000 | $1.7M | 1.86 | Too little history (no open-market trades in 2023 or 2024) |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 8 analysts; mean target USD 2.97 (low 2, high 5.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-30 | Citigroup | Target lowered | Neutral | $2.8 → $2.5 |
| 2026-07-30 | Goldman Sachs | Target lowered | Neutral | $2.9 → $2.6 |
| 2026-07-30 | Stifel | Target lowered | Buy | $6 → $5 |
| 2026-07-30 | Barclays | Target lowered | Underweight | $2.5 → $2 |
| 2026-07-07 | Barclays | Target raised | Underweight | $2.4 → $2.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -49.2% | -92.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -49.2% | -39.7% |
| Volatility (annualized) | 74.1% | 57.2% |
| Max drawdown | -61.4% (Nov 2025→Oct 2026) | -94.0% (Dec 2021→Sep 2026) |

## Peers (Information Technology Services)
PONY (Pony AI Inc.) USD 5.13 +2.19% · CHRN (ChronoScale Holdings Corporatio) USD 15.5 +0.26% · CSQR (Csquare, Inc.) USD 14.9 -11.83% · DXC (DXC Technology Company) USD 15.85 -1.46% · PENG (Penguin Solutions, Inc.) USD 51.28 -1.21% · KD (Kyndryl Holdings, Inc.) USD 14.91 -1.91%

## More
Full page: https://nexqual.com/CLVT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| A&G | $300.3M | 51.1% | -5.7% |
| IP | $198.3M | 33.8% | -2.1% |
| Life Sciences & Healthcare | $88.7M | 15.1% | -11.7% |
| Total revenue | $587.3M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Recurring Revenues | $512.6M | 87.3% | -0.4% |
| — Subscription revenues (part of Recurring Revenues) | $403.3M | 68.7% | -0.6% |
| — Re-occurring Revenues (part of Recurring Revenues) | $109.3M | 18.6% | +0.4% |
| Transactional and other revenues | $74.7M | 12.7% | -30.1% |
| Total revenue | $587.3M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $1.30B | 53.1% | -5.7% |
| EMEA | $654.8M | 26.7% | -1.9% |
| Asia Pacific | $497.4M | 20.3% | -2.0% |
| Total revenue | $2.46B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.16 | $0.17 | -5.6% | $490.1M | 2 |
| Next quarter (ends 2026-12-31) | $0.18 | $0.19 | -7.3% | $502.4M | 3 |
| Current fiscal year (ends 2026-12-31) | $0.72 | $0.73 | -1.5% | $2.21B | 3 |
| Next fiscal year (ends 2027-12-31) | $0.78 | $0.74 | +5.0% | $2.02B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-03): ±22.7%; last 8 reports averaged ±17.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 102.1% | ±22.7% |
| 2027-01-15 | 84 | 87.0% | ±31.1% |
| 2027-04-16 | 175 | 91.6% | ±51.4% |