Clearwater Analytics Holdings, Inc. vs Snowflake Inc.
Side-by-Side SaaS Metrics & Valuation Comparison
analyticsData & Analytics
Data as of Q1 2026
Summary Verdict
CWAN: 3—SNOW: 2wins
Rule of 40
69.4CWAN
54.0SNOW
check_circleCWAN leads
Revenue Growth
62.7%CWAN
32.1%SNOW
check_circleCWAN leads
Gross Margin
67%CWAN
67%SNOW
check_circleSNOW leads
FCF Margin
6.7%CWAN
21.9%SNOW
check_circleSNOW leads
Operating Margin
1.1%CWAN
-30.1%SNOW
check_circleCWAN leads
NRR
—CWAN
—SNOW
Metric
Rule of 40Efficiency score
CWAN
69.4check_circle
SNOW
54.0
Revenue GrowthYoY
CWAN
62.7%check_circle
SNOW
32.1%
Gross Margin% of revenue
CWAN
67%
SNOW
67%check_circle
FCF MarginFree cash flow
CWAN
6.7%
SNOW
21.9%check_circle
Operating MarginGAAP
CWAN
1.1%check_circle
SNOW
-30.1%
NRRNet retention
CWAN
N/A
SNOW
N/A
EV / RevenueValuation multiple
CWAN
10.8xcheck_circle
SNOW
18.4x
Market CapUSD
CWAN
$7.3B
SNOW
$90.6Bcheck_circle
ARR GrowthYoY
CWAN
N/A
SNOW
N/A
CAC PaybackMonths to recover
CWAN
N/A
SNOW
N/A
insights
Analysis
As of Q1 2026, Clearwater Analytics Holdings, Inc. trades at 10.8x EV/Revenue versus Snowflake Inc. at 18.4x. On the Rule of 40, Clearwater Analytics Holdings, Inc. scores 69.4 compared to Snowflake Inc.'s 54.0, placing Clearwater Analytics Holdings, Inc. ahead in operating efficiency. Gross margins stand at Clearwater Analytics Holdings, Inc. 67% vs Snowflake Inc. 67%.
Sector Context
Both companies operate in the Data & Analytics sector. The median columns above show where each company stands relative to their peers.