Clear Secure, Inc. (YOU)
Technology · NYQ · US
Fundamentals
Valuation and ratings
Clear Secure, Inc. trades at USD54.43, which is 15% above the USD46.20 our discounted cash flow model puts on the business. On that measure it screens as expensive, which is not the same as saying it will fall.
Our moat model scores it 80 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 44.2 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Clear Secure, Inc.
Clear Secure, Inc. operates a secure identity platform under the CLEAR brand name primarily in the United States. It provides secure identity platform, a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members. In addition, it provides RESERVE powered by CLEAR to reservation spot for airport locations; Home to Gate, a feature to help travelers plan and time their trip to the airport; CLEAR1, a B2B offering that extends secure identity platform to partners to create friction-free experiences for their customers; CLEAR ID, a free and mobile digital ID that allow any traveler to verify their identity; CLEAR Concierge which enhances the CLEAR value proposition for high-frequency and premium travelers, as well as travelers requiring additional assistance, such as families and senior citizens; CLEAR Perks, a suite of added benefits that help CLEAR members get an even more seamless experience; TSA PreCheck Enrollment Provided by CLEAR, as well as online renewal services; Sora ID, a one-click know your customer that enables adding know your customer services to platform offerings; and a virtual queuing technology. The company has a strategic collaboration with Samsung Electronics America, Inc. for the development of Samsung ID with CLEAR, a digital ID solution that allows users to add a US passport to Samsung Wallet and verify their identity. The company was founded in 2010 and is headquartered in New York, New York. Clear Secure, Inc. is a subsidiary of Alclear Investments, Llc.
YOU passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
11 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$162.31M · 0.3% of book
- Henry Ellenbogen, Durable Capital Partners LP$143.85M · 1.5% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$129.78M · 0.1% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$70.40M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$60.31M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Clear Secure, Inc. (YOU) undervalued?
Against our discounted cash flow estimate of USD46.20, YOU at USD54.43 is 15% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own YOU?
11 of the institutions we track reported a position in YOU in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is YOU's P/E ratio?
YOU trades at 44.2 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for YOU, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.