Top Bucket AI

Business Description

Clarivate PLC is a global information services and analytics company that provides subscription-based data, insights, and workflow solutions. Operating primarily across the Academia & Government, Intellectual Property, and Life Sciences & Healthcare sectors, the company serves universities, law firms, and corporations worldwide. Clarivate is highly distinctive for its proprietary, industry-standard databases, including the Web of Science, ProQuest, and Derwent Innovation.

Financial Statements

In thousands, USD

	FY 2025	FY 2024	FY 2023	FY 2022
Total Revenues	2,455,200	2,556,700	2,628,800	2,659,800
Cost of Sales	833,600	869,200	906,400	954,000
Gross Profit	1,621,600	1,687,500	1,722,400	1,705,800
Selling, General & Administrative Expenses	708,600	727,600	739,700	729,900
Depreciation & Amortization Expenses	757,200	727,000	708,300	710,500
Other Operating Expenses	84,300	508,500	1,009,100	4,191,000
Operating Profit	71,500	(275,600)	(734,700)	(3,925,600)
Non-Operating Income	265,400	278,200	277,800	63,500
Total Non-Operating Income	265,400	278,200	277,800	63,500
Income Before Provision for Income Taxes	(193,900)	(553,800)	(1,012,500)	(3,989,100)
Provision for Income Taxes	7,200	82,900	(101,300)	(28,900)
Consolidated Net Income	(201,100)	(636,700)	(911,200)	(3,960,200)
Net Income Attributable to Preferred Dividends	—	31,300	75,400	75,400
Net Income Attributable to Common Shareholders	(201,100)	(668,000)	(986,600)	(4,035,600)
Basic EPS	-0.30	-0.96	-1.47	-5.97
Diluted EPS	-0.30	-0.96	-1.47	-6.24
Basic Weighted Average Shares Outstanding	673,300	693,600	671,600	676,100
Diluted Weighted Average Shares Outstanding	673,300	693,600	671,600	678,600
Shares Outstanding	640,700	691,400	666,100	674,409

	FY 2025	FY 2024	FY 2023	FY 2022
Cash and Cash Equivalents	329,200	295,200	370,700	356,800
Total Cash and Cash Equivalents	329,200	295,200	370,700	356,800
Accounts Receivable	821,700	798,300	908,300	872,100
Total Trade Receivables	821,700	798,300	908,300	872,100
Other Current Assets	159,100	151,100	183,200	166,300
Total Current Assets	1,310,000	1,244,600	1,462,200	1,395,200
Net Property, Plant & Equipment	99,300	107,100	106,800	113,400
Net Intangible Assets	8,008,100	8,441,200	9,006,600	9,437,700
Goodwill	1,566,700	1,566,600	2,023,700	2,876,500
Other Long-Term Assets	85,300	130,700	107,500	122,100
Total Assets	11,069,400	11,490,200	12,706,800	13,944,900
Accounts Payable	150,600	124,500	144,100	101,400
Accrued Expenses	419,700	428,000	441,700	485,200
Current Portion of Long-Term Debt	101,500	1,300	—	—
Current Portion of Leases	18,400	20,600	24,400	25,700
Unearned Revenue	878,600	859,100	983,100	947,500
Other Current Liabilities	—	—	6,700	—
Total Current Liabilities	1,568,800	1,433,500	1,600,000	1,559,800
Long-Term Debt	4,321,500	4,518,700	4,721,100	5,005,000
Leases	37,900	53,200	63,200	72,900
Other Long-Term Liabilities	298,300	345,800	330,200	494,700
Total Long-Term Liabilities	4,657,700	4,917,700	5,114,500	5,572,600
Total Liabilities	6,226,500	6,351,200	6,714,500	7,132,400
Preferred Stock	—	—	1,392,600	1,392,600
Common Stock	12,810,600	12,978,800	11,740,500	11,744,700
Accumulated Other Comprehensive Income	(453,100)	(526,300)	(495,300)	(665,900)
Retained Earnings	(7,514,600)	(7,313,500)	(6,645,500)	(5,658,900)
Total Common Shareholders' Equity	4,842,900	5,139,000	5,992,300	6,812,500
Total Shareholders' Equity	4,842,900	5,139,000	5,992,300	6,812,500
Total Liabilities and Shareholders' Equity	11,069,400	11,490,200	12,706,800	13,944,900

	FY 2025	FY 2024	FY 2023	FY 2022
Net Income	(201,100)	(636,700)	(911,200)	(3,960,200)
Depreciation & Amortization	757,200	727,000	708,300	710,500
Share-Based Compensation Expense	63,100	59,900	109,000	93,900
Other Adjustments	5,800	521,300	898,500	3,937,000
Changes in Trade Receivables	(5,000)	92,600	(25,500)	(28,300)
Changes in Accounts Payable	22,800	(15,000)	41,200	(24,000)
Changes in Accrued Expenses	(11,300)	3,800	(44,400)	(114,400)
Changes in Unearned Revenue	(2,600)	(106,200)	20,300	(9,300)
Changes in Other Operating Activities	(400)	(100)	(52,000)	(95,900)
Cash from Operating Activities	628,500	646,600	744,200	509,300
Capital Expenditure	(263,200)	(289,100)	(242,500)	(202,900)
Payments for Business Acquisitions	—	(32,000)	(5,400)	(24,800)
Proceeds from Business Divestments	—	84,400	10,500	285,000
Cash from Investing Activities	(263,200)	(236,700)	(237,400)	57,300
Repayments of Short-Term Debt	—	—	—	(175,000)
Net Issuance / (Repayments) of Short-Term Debt	—	—	—	(175,000)
Issuance of Long-Term Debt	500,000	—	—	—
Repayments of Long-Term Debt	(600,000)	(198,100)	(300,000)	(321,500)
Net Issuance / (Repayments) of Long-Term Debt	(100,000)	(198,100)	(300,000)	(321,500)
Issuance of Common Shares	—	—	500	6,600
Repurchases of Common Shares	(224,500)	(200,000)	(100,000)	(175,000)
Net Issuance / (Repurchases) of Common Shares	(224,500)	(200,000)	(99,500)	(168,400)
Preferred Share Dividends Paid	—	(37,700)	(75,500)	(75,400)
Other Financing Activities	(18,600)	(34,300)	(21,500)	(18,900)
Cash from Financing Activities	(343,100)	(470,100)	(496,500)	(759,200)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	11,800	(15,300)	3,600	(38,200)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash	34,000	(75,500)	13,900	(230,800)

Key Metrics & Ratios

Metric	Value
Market Cap	$2.14B
P/E	-11.13x
P/S	0.87x
EV/EBITDA	7.59x
Return on Equity	-4.0%
Return on Invested Capital	0.7%
Current Ratio	0.84x
Free Cash Flow Margin	14.9%

Margins

Gross margin

66.0%

Operating margin

2.9%

Net margin

-8.2%

Quarterly Trend

Quarter	Revenue	YoY growth	Operating margin	Operating income
Q2 2026	$587M	-5.5%	-34.1%	$-200M
Q1 2026	$586M	-1.4%	5.2%	$30M
Q4 2025	$617M	-6.9%	6.7%	$41M
Q3 2025	$623M	+0.1%	7.1%	$44M
Q2 2025	$621M	—	1.1%	$7M
Q1 2025	$594M	—	-3.5%	$-21M
Q4 2024	$663M	—	-9.4%	$-62M
Q3 2024	$622M	—	3.5%	$22M

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Clarivate PLC financials