CLARIVATE PLC
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The operating business deserves a better mark than the company as a whole — but the rating judges the company. And there, a fourth consecutive loss-making year meets stagnating organic growth: net losses of $911.2 million (2023), $636.7 million (2024) and $201.1 million (2025), plus $40.2 million in the first quarter of 2026; organic growth of −0.1 percent (2025) and +0.6 percent (Q1 2026), the latter only thanks to a 2.2 percentage point currency tailwind. The substance is largely bought and being written off: $9,430.3 million of goodwill and intangibles against $4,788.8 million of equity, $1,535.6 million of impairments in 2023 through 2025 alone — $465.7 million of it explicitly because of the company's own share-price decline — and an accumulated deficit of $7,554.8 million against $12,801.3 million of paid-in capital. Leverage is high: $4,040.9 million of net debt against $1,304.0 million of market capitalization, $265.4 million of annual interest, and refinancing that gets more expensive (3.875 to 4.875 percent on the old notes against 6.466 to 6.966 percent on the new loans). The Altman Z-score of 1.78 sits in the Z-double-prime grey zone between 1.1 and 2.6. A good business inside a balance sheet that cannot carry it — that is red.
What the thesis turns on
Assessment: Opportunities & Risks
Clarivate is two things at once, and both sit in the same filings. The business underneath is strong: a renewal rate above 90 percent, 83 percent recurring revenue and a 40.8 percent margin on adjusted operating income of $1,001.8 million. The company on top is a debt pile assembled from acquisitions: $4,040.9 million of net debt against $1,304.0 million of market capitalization, $9,430.3 million of goodwill and intangibles against $4,788.8 million of equity, a $7,554.8 million accumulated deficit and a fourth consecutive loss-making year. Free cash flow of $365.3 million looks cheap at 3.6 times market capitalization and costs 14.6 times with the debt included; it arises mostly because amortization of acquisitions ($735.3 million) exceeds own investment ($263.2 million) by more than double. The business does not grow under its own steam: −0.1 percent in 2025. Not investment advice.
Business model and customer retention
More than 45,000 customers, an annual renewal rate above 90 percent and $2,039.7 million of recurring revenue — 83 percent of 2025 revenue. Adjusted operating income was $1,001.8 million, a margin of 40.8 percent. Only a product customers cannot easily switch away from produces numbers like that.
Where the cash flow comes from
Free cash flow of $365.3 million (2025) rests largely on an accounting entry: $735.3 million of amortization on acquired intangibles faces just $263.2 million of own investment, with only $21.9 million of depreciation on property and equipment. The bottom line was a net loss of $201.1 million — the fourth loss-making year in a row, after $636.7 million (2024) and $911.2 million (2023).
Organic growth
Excluding acquisitions, disposals and currency, growth was −0.1 percent in 2025 and +0.6 percent in the first quarter of 2026, with currency contributing 2.2 percentage points there. The subscription core grew organically by 0.8 and 1.7 percent respectively, while transactional revenue fell 16.9 percent in 2025. An asset whose revenue stagnates while $735 million a year is amortized against it does not regrow.
Balance sheet and impairment risk
Goodwill and intangibles totaled $9,430.3 million as of March 31, 2026 — 86 percent of total assets and twice the $4,788.8 million of equity. Between 2023 and 2025, $1,535.6 million has already been written off, including $465.7 million in 2024 explicitly because of the company's own falling share price. The accumulated deficit stands at $7,554.8 million and the price-to-book ratio at 0.27.
Leverage
Net debt of $4,040.9 million faces $1,304.0 million of market capitalization — $3.10 of debt per dollar of market cap. Interest expense was $265.4 million in 2025, or 20 percent of market capitalization. Refinancing is getting dearer: old notes cost 3.875 and 4.875 percent, new term loans 6.466 and 6.966 percent. On the plus side, no large maturity falls due before 2028 and the revolving facility stood untouched at $768.5 million at the end of 2025.
Share structure and the healthcare sale
There is a single share class: 639,216,510 ordinary shares; the 14.4 million preferred shares converted fully into 55.3 million ordinary shares in 2024 and no conversion rights remain open. On July 3, 2026 the sale of the Life Sciences & Healthcare segment was agreed for $600 million — 1.54 times the segment's $389.8 million of revenue, while the market values the whole company at 0.53 times. At the same time the segment carries $477.8 million of allocated goodwill.
Worth Noting
Clarivate reached our research list through our in-house price-to-free-cash-flow ranking (U.S. selection). Important for context: the list had 545 U.S. hits on July 27, 2026, and CLVT sat at rank 45 with a reading of 2.10 — outside the 25 displayed places and without a tie against any other stock. The stock can be looked up through the stock screener (country United States, P/FCF filter "under 10", search box CLVT). It also appears in the price-to-sales and price-to-cash-flow rankings. All lists are recomputed daily. The ranking reading of 2.10 is based on a trailing twelve-month view; this analysis works throughout with the free cash flow the company itself published for fiscal 2025, $365.3 million, which produces 3.6 times.
Legal form and filing status were checked before the source work: Clarivate Plc was incorporated on January 7, 2019 under the laws of Jersey, Channel Islands, and is based in London, but files with the SEC as a domestic filer on Forms 10-K, 10-Q and 8-K at "large accelerated filer" status — not as a foreign private issuer on Forms 20-F and 6-K. The data basis is therefore the annual report 10-K for 2025 (filed February 24, 2026), the quarterly report 10-Q as of March 31, 2026 (filed April 29, 2026, the most recent periodic report) and the two 8-K filings of July 6, 2026 on the sale of the Life Sciences & Healthcare segment.
Market capitalization was calculated by us: 639,216,510 ordinary shares per the quarterly report cover page (as of March 31, 2026) times the $2.04 closing price of July 24, 2026 gives $1,304.0 million. There is only one share class — the preferred shares converted fully in 2024. The Altman Z-score of 1.78 comes from the Z-double-prime variant for non-manufacturers, whose thresholds are 1.1 (distress) and 2.6 (safe zone) — not from the original formula with 1.8 and 3.0; on that scale 1.78 means grey zone, not distress.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at CLVT since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 1.70 $ to 4.10 $ · Last price: 1.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Information Technology Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| CLARIVATE PLC CLVT | 1.2 | – | 7.9 | 66.8 | – | -4.0 | -53.6 |
| International Business Machines IBM | 212.8 | 21.3 | 16.3 | 58.1 | 13.8 | 7.6 | -5.9 |
| Accenture plc ACN | 117.9 | 15.3 | 9.0 | 32.0 | 17.0 | 7.4 | -18.5 |
| Infosys Ltd INFY | 45.0 | 13.7 | 9.0 | 29.7 | 21.2 | 4.6 | -32.7 |
| Cognizant Technology Solutions Corporation CTSH | 29.3 | 13.1 | 7.3 | 33.4 | 15.6 | 7.0 | -9.6 |
| CDW Corp CDW | 19.1 | 17.3 | 12.4 | 21.4 | 6.6 | 6.8 | -9.0 |
| Broadridge Financial Solutions Inc BR | 19.0 | 17.6 | 12.1 | 31.8 | 18.4 | 5.9 | -31.4 |
| Fidelity National Information Services, Inc. FIS | 18.8 | 7.2 | 9.6 | 35.8 | 16.4 | 5.4 | -43.7 |
| Wipro Limited WIT | 16.6 | 12.9 | 7.4 | 29.0 | 15.7 | 4.0 | -37.3 |
| Median of companies shown | 19.1 | 14.5 | 9.0 | 32.0 | 16.0 | 5.9 | -31.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 514 | 25 | 14 | 0.06 | 69 | 381 | 775 |
| 2017 | 918 | -147 | -264 | -0.86 | 7 | 1,286 | 4,005 |
| 2018 | 968 | -106 | -242 | -0.79 | -26 | 1,051 | 3,710 |
| 2019 | 974 | -82 | -259 | -0.94 | 118 | 1,249 | 3,791 |
| 2020 | 1,254 | 52 | -106 | -0.39 | 324 | 9,594 | 15,197 |
| 2021 | 1,877 | -87 | -271 | -0.42 | 509 | 11,926 | 20,183 |
| 2022 | 2,660 | -3,926 | -3,960 | -5.84 | 509 | 6,813 | 13,945 |
| 2023 | 2,629 | -735 | -911 | -1.36 | 744 | 5,992 | 12,707 |
| 2024 | 2,557 | -276 | -637 | -0.92 | 647 | 5,139 | 11,490 |
| 2025 | 2,455 | 72 | -201 | -0.30 | 629 | 4,843 | 11,069 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.27 | – | 663 | -3.00 | -28.90 | 141 | 59 |
| 2025: Q1 | -0.15 | – | 594 | -4.40 | -17.50 | 171 | 110 |
| 2025: Q2 | -0.11 | – | 621 | -4.40 | -11.60 | 116 | 50 |
| 2025: Q3 | -0.04 | – | 623 | 0.10 | -4.50 | 181 | 116 |
| 2025: Q4 | 0.00 | – | 617 | -6.90 | 0.50 | 160 | 352 |
| 2026: Q1 | -0.06 | – | 586 | -1.40 | -6.90 | 135 | 79 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 5 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.71 | 0.71 – 0.72 | 2,170 | 3.5% | 2 |
| 12/31/2027 | 0.72 | 0.72 – 0.73 | 2,029 | 1.3% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -17.2% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $327.6M |
|---|---|
| Market cap | $1.20B |
| Free cash flow in year ten | $49.7M |
| Terminal value as a share of market value | 21.8% |
For comparison: over the past five years free cash flow grew by 12.2% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Der Geschäftsbericht 2025 führt KI als eigene Produktlinie: „Clarivate Academic AI“ als zentrale Plattform hinter den KI-gestützten Forschungs- und Lernassistenten, „Web of Science Research Intelligence“ ausdrücklich als KI-native Lösung, dazu KI-gestützte Recherche in Derwent Innovation und das Markenrisiko-Werkzeug RiskMark; der Ausbau KI-nativer Lösungen ist der erste Punkt des Konzernplans für 2026.
View the full file — quotes, sources, reviewed filings
„Building on this foundation, Clarivate Academic AI provides a centralized, secure infrastructure that powers our suite of AI-enabled research and learning assistants integrated across our portfolio of solutions. By combining large language model (“LLM”) technology with our trusted collection of curated, scholarly content, the platform provides retrieval-augmented generation, multilingual support, and emerging purpose-built agentic AI."
Auf dieser Grundlage stellt Clarivate Academic AI eine zentrale, gesicherte Infrastruktur bereit, die unsere Reihe KI-gestützter Forschungs- und Lernassistenten betreibt und über unser gesamtes Lösungsangebot hinweg eingebunden ist. Durch die Verbindung von Technik großer Sprachmodelle mit unserer vertrauenswürdigen Sammlung kuratierter wissenschaftlicher Inhalte bietet die Plattform abrufgestützte Texterzeugung, Mehrsprachigkeit und entstehende, eigens entwickelte agentische KI.
10-K · 2026-02-24 · View SEC filing
„Web of Science Research Intelligence, an AI-native solution, accelerates insight generation and supports institutions in measuring and demonstrating impact, informing strategy, and strengthening funding and investment decisions."
Web of Science Research Intelligence, eine KI-native Lösung, beschleunigt die Erkenntnisgewinnung und unterstützt Einrichtungen dabei, Wirkung zu messen und zu belegen, Strategien zu untermauern sowie Förder- und Investitionsentscheidungen zu stärken.
10-K · 2026-02-24 · View SEC filing
„Accelerate AI innovation at scale. Continue the deployment of generative and agentic AI, build on existing momentum to release new AI-native solutions in existing and adjacent markets, and extend AI-powered capabilities across our flagship product portfolio."
KI-Innovation in der Breite beschleunigen. Die Einführung generativer und agentischer KI fortsetzen, den bestehenden Schwung nutzen, um neue KI-native Lösungen in bestehenden und angrenzenden Märkten herauszubringen, und KI-gestützte Fähigkeiten über unser gesamtes Kernproduktangebot ausweiten.
10-K · 2026-02-24 · View SEC filing
Filings Reviewed: 10-K 2026-02-24 · 10-Q 2026-04-29 · 8-K 2026-07-06 · 8-K 2026-07-06
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -2.6%
- More than 10% revenue growth is expected for the coming year 2.2%
- Share count grows by less than 3% a year -0.3%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 10.9%
- Gross margin at 40% or higher and without meaningful erosion 66.1%
- Goodwill from acquisitions does not grow faster than revenue 14.2%
- Net debt below twice EBITDA 4.5 x EBITDA
- Operating cash flow covers the profits of the last three years 3,768 m
- Return on capital at 15% or higher, or up versus two years ago 0.8%
- Insiders hold at least 10% or are net buyers 18.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
3/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 19.0%
- Exp. sales growth 3Y > 5% -9.1%
- EBIT growth 10Y > 5% 12.6%
- Exp. EBIT growth 3Y > 5% -9.1%
- Net debt < 4x EBIT 58.0x
- EBIT positive, 10Y straight 3
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% 0.8%
- Expected return > 10% 18.5%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 15, 2026 | Lisowski Matthew J. | Senior VP, CAO | Other | 67,357 | 0.00 | – |
| Aug 15, 2026 | Easton Michael M | Executive Vice President/CFO | Other | 194,300 | 0.00 | – |
| Aug 13, 2026 | Shem Tov Matitiahu S. | Chief Executive Officer | Other | 47,633 | 1.96 | 93,361 |
| Aug 7, 2026 | Cornick Kenneth L. | Director | Buy | 250,000 | 1.85 | 462,500 |
| Aug 6, 2026 | Cornick Kenneth L. | Director | Buy | 650,000 | 1.86 | 1,209,000 |
| Aug 3, 2026 | Snyder Andrew Miles | Director | Sell | 2,002,242 | 1.94 | 3,884,349 |
| Aug 3, 2026 | Snyder Andrew Miles | Director | Sell | 176,674 | 1.94 | 342,748 |
| Aug 3, 2026 | Snyder Andrew Miles | Director | Sell | 310,702 | 1.94 | 602,762 |
The company
About the Company
Clarivate Plc bietet Informationsdienstleistungen in Amerika, im Nahen Osten, in Afrika, in Europa und im asiatisch-pazifischen Raum an. Es ist in drei Segmenten tätig: Academia & Government, Intellectual Property und Life Sciences & Healthcare.
- Employees
- 12,000
- Headquarters
- London, United Kingdom
- Address
- 70 St. Mary Axe, EC3A 8BE London, United Kingdom
- Phone
- 44 20 7433 4000
- Website
- clarivate.com
- IPO Date
- 10/29/2018
- ISIN
- JE00BJJN4441
- Stock Split
- 2:1 on 06/04/1991
Management
| Name | Title | Birth Year |
|---|---|---|
| Matitiahu Shem Tov | CEO & Director | 1961 |
| Bar Veinstein | President of Academia & Government | 1973 |
| Henry Levy | President of Life Sciences & Healthcare | 1973 |
| Maroun S. Mourad | Advisor | – |
| Michael Easton | Executive VP & CFO | 1973 |
| Matthew Lisowski | Senior VP & Chief Accounting Officer | 1986 |
| William E. Graff | Executive VP & Chief Information Officer | – |
| Mark J. Donohue CPA | Vice President of Investor Relations | – |
| John Doulamis | Senior VP & General Counsel | – |
| Gwenan White | Senior Vice President of Communications & Brand | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/17/2026 CLARIVATE PLC (CLVT): Other Events; Financial Statements and Exhibits SEC ↗
- 07/29/2026 CLARIVATE PLC (CLVT): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/29/2026 CLARIVATE PLC (CLVT): Results of Operations and Financial Condition; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/06/2026 CLARIVATE PLC (CLVT): Entry into a Material Definitive Agreement; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 07/06/2026 CLARIVATE PLC (CLVT): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.