Navan, Inc. (NAVN) vs CLEAR Secure, Inc. (YOU)

Navan, Inc. and CLEAR Secure, Inc. are both Software Application companies. Navan, Inc. and CLEAR Secure, Inc. are of similar size ($5.2B and $5.1B). Navan, Inc. has negative trailing earnings, so its P/E is not meaningful; CLEAR Secure, Inc. trades at 26.6×. CLEAR Secure, Inc. has the higher net margin (14.8% vs −42.1%) and the higher return on invested capital (0.00% vs −25.3%). Across the 17 metrics below, CLEAR Secure, Inc. leads on 13 and Navan, Inc. on 4.

Valuation

Metric NAVN YOU Software Application median
P/E n/m 26.58 24.79
P/S 6.03 3.99 2.67
P/B 3.78 16.42 3.01
Price to free cash flow 175.78 7.86 16.59
EV/EBITDA n/m 10.67 14.40
EV/Sales 5.07 3.03 2.62
Earnings yield (26.06%) 3.76% 0.00%
Free cash flow yield 0.57% 12.72% 1.91%

Profitability

Metric NAVN YOU Software Application median
Gross margin 72.55% 66.66% 67.03%
Operating margin (25.72%) 25.13% 0.00%
Net margin (42.11%) 14.78% 0.00%
Free cash flow margin 3.43% 50.80% 4.32%
Return on equity (540.18%) 79.97% 0.00%
Return on assets (38.41%) 10.72% 0.00%
Return on invested capital (25.34%) 0.00% 0.00%

Growth

Metric NAVN YOU Software Application median
Revenue growth (TTM) — 19.77% 12.40%
EPS growth (last fiscal year) (1.76%) (28.21%) —
Revenue growth, 5-year CAGR — 31.30% 13.72%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric NAVN YOU Software Application median
Debt to equity 0.09 0.00 0.02
Current ratio 4.38 1.04 1.55
Net debt to EBITDA 5.39 (3.18) 0.06

Dividend

Metric NAVN YOU Software Application median
Dividend yield — 0.83% 1.25%
Payout ratio — 0.00 0.00

Size

Metric NAVN YOU Software Application median
Market cap 5.11b 5.17b 396.11m

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