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Makes core insurance software (policy, billing, claims) used by property & casualty insurers to run their business.
Makes core insurance software (policy, billing, claims) used by property & casualty insurers to run their business.
Insurers now mostly pay yearly subscription fees for software hosted by Guidewire, having once bought licences outright, plus fees for installation and consulting work that can take years to complete. Because swapping a core system is a major project, customers tend to stay a long time.
Moat: narrow (switching costs, installed base, customer qualification). Core insurance systems are deeply embedded and costly/risky for insurers to replace once implemented.
Headquarters: San Mateo, California, US · Founded: 2001 · Employees: 4,174
Size Guidewire Software (GWRE) is a United States Information Technology company (Information Technology Services) with a market value of $13.3B, the 655th largest of 3,117 United States companies the cockpit tracks. Shares closed at $161.41 on 6 Nov 2026.
Performance Over six months the shares gained 16.6%, against +29.1% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 22.7% over the last twelve months (peer median +12.0%); the operating margin is 10.3% (peer median 12.8%).
Valuation It trades at 38.5× forward earnings against a peer median of 24.4× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 39% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +25 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 0.7 points above its cost of capital (9.7% WACC).
Backlog Backlog (remaining performance obligations) was $4.30B at 31 Jul 2026, up 39% on a year earlier — 2.9 years of trailing revenue. Backlog detail →
Credit Guidewire Software has 1 bond outstanding ($690M).
Short interest Short interest is 4.7% of the free float (15 Oct 2026).
Next results Next results expected around 3 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $1.48B | $1.48B | $1.20B | $980M | $905M |
| Revenue growth | — | +23% | +23% | +8% | — |
| Gross profit | $946M | $945M | $752M | $583M | $458M |
| EBITDA | $214M | $214M | $85.1M | -$12.3M | -$93.5M |
| Net income | $139M | $139M | $69.8M | -$6.10M | -$112M |
| Free cash flow | $359M | $359M | $280M | $177M | $21.0M |
| Capital expenditure | $31.1M | $31.1M | $20.5M | $18.5M | $17.4M |
| Total debt | $715M | $715M | $716M | $443M | $449M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Guidewire Software GWRE | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% |
| CCC Intelligent Solutions CCC | $4.54B | +50% | +11% | 18% | 15.1× | 11.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GWRE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.0% | +13.1% | 6th lowest of 21 |
| 6-month return | +16.6% | +29.1% | 6th lowest of 21 |
| Distance from 52-week high | -29.8% | -13.1% | 5th lowest of 21 |
| Revenue growth (TTM) | +22.7% | +12.0% | 7th highest of 21 |
| Operating margin | 10.3% | 12.8% | 10th lowest of 21 |
| Forward P/E | 38.5× | 24.4× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 39.4% | 9.2% | 2nd most demanding of 19 |
| Growth delivered (Del g) | +14.7% | +9.8% | 7th highest of 19 |
| Hurdle (Req g minus delivered) | +24.7 pp | -3.9 pp | most demanding of 19 |
| ROIC minus cost of capital | +0.7 pp | +6.9 pp | 6th lowest of 20 |
| EV / EBITDA | 62.0× | 15.2× | most expensive of 16 |
| Net debt / EBITDA | -0.2× | -0.6× | 7th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guidewire Software GWRE | United States | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% | +14.7% |
| iflytek 002230.SZ | China | $13.2B | -20% | +11% | -4% | 106.3× | n/a | n/a |
| Bentley Systems BSY | United States | $13.5B | +36% | +13% | 24% | 31.4× | 22.8% | +13.4% |
| CACI International CACI | United States | $13.6B | +27% | +10% | 10% | 17.6× | 7.3% | +9.6% |
| Samsung Sds 018260.KS | South Korea | $12.4B | +31% | +2% | 5% | 24.9× | 13.0% | +4.8% |
| Ruijie Networks 301165.SZ | China | $11.7B | +6% | +30% | 5% | 48.3× | n/a | n/a |
| Indra Sistemas IDR.MC | Spain | $11.2B | +12% | +28% | 10% | 19.7× | 4.2% | +12.4% |
| OBIC 4684.T | Japan | $16.6B | +46% | +13% | 67% | 30.3× | 4.6% | +10.0% |
| Persistent Systems PERSISTENT.NS | India | $10.6B | +21% | +27% | 16% | 43.9× | 37.4% | +28.6% |
| CGI GIB-A.TO | Canada | $17.2B | +27% | +6% | 17% | 12.2× | -12.0% | +5.5% |
| Coforge COFORGE.NS | India | $9.71B | +62% | +41% | 16% | 35.2× | 34.6% | +28.6% |
| Tech Mahindra TECHM.NS | India | $19.0B | +26% | +14% | 14% | 23.9× | 20.3% | +8.5% |
| CDW CDW | United States | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% | +4.0% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| Otsuka 4768.T | Japan | $8.63B | +24% | +9% | 7% | 20.1× | -5.6% | +9.6% |
| Wipro WIPRO.NS | India | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% | +8.4% |
| EPAM Systems EPAM | United States | $8.22B | +61% | +11% | 10% | 11.3× | 9.4% | +15.5% |
| AppFolio APPF | United States | $8.18B | +39% | +20% | 19% | 28.9× | 18.5% | +25.1% |
| Rubrik RBRK | United States | $21.9B | +70% | +42% | -18% | 215.0× | 36.2% | +27.7% |
| Credo Technology CRDO | United States | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% | +86.8% |
| Capgemini CAP.PA | France | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% | +7.2% |
Guidewire Software has 1 bond outstanding with $690M face value.
Guidewire Software reported $4.30B of remaining performance obligations at 31 Jul 2026, up 39% from a year earlier and up 19% from the previous quarter. That is 2.9 years of trailing revenue already under contract. Book-to-bill last quarter: 2.70.