Clearfield, Inc. (CLFD) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.25	$0.22	-12.0%	—	$43.9M	—
Q2 26	$0.01	-$0.04	-500.0%	—	$34.4M	—
Q1 26	-$0.02	-$0.02	0.0%	—	$34.3M	—
Q3 25	$0.1	$0.11	+10.0%	—	$49.9M	—
Q2 25	-$0.19	$0.09	+147.4%	—	$47.2M	—
Q1 25	-$0.32	-$0.13	+59.4%	—	$35.5M	—
Q4 24	-$0.2	-$0.06	+70.0%	—	$46.8M	—
Q3 24	-$0.3	-$0.04	+86.7%	—	$48.8M	—
Q2 24	-$0.37	-$0.4	-8.1%	—	$36.9M	—
Q1 24	-$0.36	-$0.35	+2.8%	—	$34.2M	—
Q4 23	$0.1	$0.17	+70.0%	—	$49.7M	—
Q3 23	$0.09	$0.33	+266.7%	—	$61.3M	—
Q2 23	$0.65	$0.67	+3.1%	—	$71.8M	—
Q1 23	$0.96	$1	+4.2%	—	$85.9M	—
Q4 22	$0.86	$1.22	+41.9%	—	$95M	—
Q3 22	$0.66	$0.92	+39.4%	—	$71.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.58	—	—	$150.1M	—
FY24	—	-$0.85	—	—	$166.7M	—
FY23	—	$2.17	—	—	$268.7M	—
FY22	—	$3.58	—	—	$270.9M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$75.3M	$73.9M	$77.7M	$85M	$93.1M	$140.8M	$270.9M	$268.7M	$166.7M	$150.1M
YoY change	+24.8%	-1.78%	+5.01%	+9.51%	+9.46%	+51.2%	+92.5%	-0.8%	-38%	-9.94%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	75.3M	73.9M	77.7M	85M	93.1M	140.8M	270.9M	268.7M	166.7M	150.1M
Cost of revenue	42.4M	43.7M	46.7M	52.3M	55.2M	79.6M	157.9M	183.4M	137.8M	99.6M
Gross profit	32.9M	30.3M	31M	32.7M	37.9M	61.2M	112.9M	85.3M	28.9M	50.5M
Gross margin	43.7%	40.9%	39.9%	38.4%	40.7%	43.5%	41.7%	31.7%	17.3%	33.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	22.1M	25M	25.9M	27.5M	29.5M	35.9M	49.1M	48M	52.1M	48.4M
Operating expenses	22.1M	25M	25.9M	27.5M	29.5M	35.9M	49.1M	48M	52.1M	48.4M
Operating income	10.7M	5.3M	5.1M	5.2M	8.4M	25.2M	63.8M	37.3M	-23.2M	2.1M
Operating margin	14.3%	7.18%	6.53%	6.1%	9.01%	17.9%	23.6%	13.9%	-13.9%	1.41%
Non-operating income, net	—	—	—	—	771K	500K	328K	5.2M	7.5M	6.5M
Pretax income	10.9M	5.6M	5.5M	5.9M	9.2M	25.7M	63.8M	41.6M	-16.3M	8.7M
Income tax	2.9M	1.7M	1.3M	1.4M	1.9M	5.4M	14.5M	9.1M	-3.8M	2.4M
Net income	8M	3.8M	4.3M	4.6M	7.3M	20.3M	49.4M	32.5M	-12.5M	-8.1M
Net margin	10.6%	5.2%	5.5%	5.37%	7.84%	14.4%	18.2%	12.1%	-7.47%	-5.36%
EBITDA	12.2M	6.9M	7.1M	7.4M	10.8M	27.5M	67.2M	43.3M	-15.8M	8.2M
EPS	0.6	0.28	0.32	0.34	0.53	1.48	3.58	2.17	-0.85	-0.58
Diluted EPS	0.59	0.28	0.32	0.34	0.53	1.47	3.55	2.17	-0.85	-0.58

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	49.7M	34.2M	36.9M	48.8M	46.8M	35.5M	47.2M	49.9M	17.6M	34.3M	34.4M	43.9M
Cost of revenue	37.7M	29.5M	34.1M	38.1M	36.1M	27.3M	33M	34.7M	4.7M	23M	23.2M	29.9M
Gross profit	12M	4.7M	2.8M	10.7M	10.7M	8.2M	14.2M	15.2M	12.9M	11.4M	11.2M	13.9M
Gross margin	24.1%	13.7%	7.67%	21.9%	22.8%	23.1%	30.1%	30.5%	73.5%	33.2%	32.5%	31.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	10.3M	12.9M	12.6M	13M	13.7M	12.2M	13.9M	13.7M	8.6M	13.2M	13.2M	11.4M
Operating expenses	10.3M	12.9M	12.6M	13M	13.7M	12.2M	13.9M	13.7M	8.6M	13.2M	13.2M	11.4M
Operating income	1.7M	-8.2M	-9.7M	-2.3M	-3M	-4M	262K	1.5M	4.3M	-1.8M	-2.1M	2.6M
Operating margin	3.45%	-23.8%	-26.4%	-4.73%	-6.44%	-11.2%	0.56%	3%	24.6%	-5.31%	-6.02%	5.86%
Non-operating income, net	1.9M	2.1M	1.8M	1.7M	1.8M	1.7M	1.6M	1.6M	1.6M	1.5M	1.4M	1.4M
Pretax income	3.3M	-6.2M	-8M	-724K	-1.3M	-2.3M	1.8M	3M	6.2M	-278K	-704K	3.9M
Income tax	568K	-951K	-2.1M	-277K	-492K	-426K	455K	1.4M	956K	-1K	-176K	934K
Net income	2.7M	-5.3M	-5.9M	-447K	-827K	-1.9M	1.3M	1.6M	-9.1M	-614K	-528K	3M
Net margin	5.43%	-15.4%	-16%	-0.92%	-1.77%	-5.37%	2.81%	3.22%	-51.6%	-1.79%	-1.54%	6.84%
EBITDA	3.4M	-6.5M	-7.8M	-397K	-1.1M	-2.1M	2.5M	4.2M	4.7M	-1.8M	-1.9M	2.8M
EPS	0.16	-0.35	-0.4	-0.04	-0.06	-0.13	0.09	0.11	—	-0.04	-0.04	0.22
Diluted EPS	0.16	-0.35	-0.4	-0.04	-0.06	-0.13	0.09	0.11	—	-0.04	-0.04	0.22

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	251.4M	184M	180.6M	159.3M	275.2M	605.8M	1.4B	429.2M	568.1M	481M	416.5M
Enterprise value	217.9M	159.6M	163.1M	135.7M	250.9M	584.7M	1.5B	277.6M	455.5M	383.7M	325.5M
Shares outstanding	13.4M	13.5M	13.4M	13.4M	13.6M	13.7M	13.8M	15M	14.6M	14M	14M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	31.4	47.8	42.3	34.9	37.7	29.8	29.2	13.2	—	—	105.7
P/S	3.34	2.49	2.33	1.87	2.96	4.3	5.32	1.6	3.41	3.2	2.71
P/B	4.02	2.85	2.62	2.13	3.33	5.83	9.76	1.36	2.06	1.88	1.7
EV/EBITDA	17.9	23	22.9	18.4	23.2	21.2	21.6	6.4	-28.8	46.6	56.8
EV/Sales	2.89	2.16	2.1	1.6	2.7	4.15	5.36	1.03	2.73	2.56	2.12
Earnings yield	3.19%	2.09%	2.37%	2.87%	2.65%	3.36%	3.43%	7.58%	—	—	0.95%
FCF yield	3.95%	2.32%	1.86%	7.67%	1.76%	1.46%	-0.48%	2.34%	2.23%	4.53%	5.18%
PEG	—	—	—	—	—	—	—	—	—	—	1.06

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	43.7%	40.9%	39.9%	38.4%	40.7%	43.5%	41.7%	31.7%	17.3%	33.7%	31.8%
Operating margin	14.3%	7.18%	6.53%	6.1%	9.01%	17.9%	23.6%	13.9%	-13.9%	1.41%	5.86%
Net margin	10.6%	5.2%	5.5%	5.37%	7.84%	14.4%	18.2%	12.1%	-7.47%	-5.36%	-4.7%
ROE	12.8%	5.96%	6.21%	6.09%	8.81%	19.6%	33.4%	10.3%	-4.52%	-3.14%	1.56%
ROA	11.4%	5.54%	5.76%	5.58%	7.65%	16.1%	21.5%	9.15%	-3.95%	-2.63%	-0.08%
ROIC	27.2%	9.14%	7.63%	7.79%	11.4%	24.1%	31.3%	17.8%	-14.2%	0.97%	1.58%
Return on tangible assets	12.2%	6.03%	7.94%	7.34%	9.61%	19%	24.2%	9.85%	-4.3%	-2.9%	-2.99%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.96	9.7	8.25	6.43	5.04	3.49	3.1	10.2	9.43	5.42	12.5
Quick ratio	5.82	7.7	6.23	5.07	3.66	2.15	1.51	6.83	6.69	4.27	10.1
Debt / equity	—	—	—	0	0.03	0.02	0.22	0.05	0.07	0.03	0.04
Debt / assets	—	—	—	0	0.03	0.02	0.14	0.05	0.06	0.03	0.04
Net debt / EBITDA	—	—	—	-3.2	-2.24	-0.76	0.15	-3.5	7.12	-11.8	-23.7
Interest coverage	—	—	—	—	—	—	206.3	48.2	-31.1	—	—
Effective tax rate	26.4%	31.1%	22.7%	23%	20.3%	21%	22.7%	21.8%	0%	27.2%	18.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.63	5.46	5.78	6.33	6.82	10.3	19.7	17.9	11.4	10.7	11.2
EPS (basic)	0.6	0.28	0.32	0.34	0.53	1.48	3.58	2.17	-0.85	-0.58	-0.58
EPS (diluted)	0.59	0.28	0.32	0.34	0.53	1.47	3.55	2.17	-0.85	-0.58	0.29
Book value per share	4.68	4.77	5.13	5.57	6.07	7.57	10.7	21	18.9	18.3	18.1
FCF per share	0.74	0.32	0.25	0.91	0.36	0.65	-0.5	0.67	0.87	1.56	0.98
Cash per share	2.51	1.81	1.3	1.76	1.98	1.72	1.63	11.2	8.98	7.58	7.45
Capex per share	0.12	0.15	0.08	0.19	0.13	0.15	0.66	0.56	0.66	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	2.06%	2.73%	1.43%	2.95%	1.94%	1.45%	3.38%	3.12%	5.74%	—	—
Capex / operating cash flow	16.8%	23.2%	28.8%	19.3%	50.7%	221.4%	-68%	16.8%	36.7%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$49.7M	$34.2M	$36.9M	$48.8M	$46.8M	$35.5M	$47.2M	$49.9M	$17.6M	$34.3M	$34.4M	$43.9M
YoY change	-47.7%	-60.2%	-48.6%	-20.4%	-5.86%	+3.64%	+27.8%	+2.27%	-62.4%	-3.2%	-27.1%	-12.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	33.5M	24.5M	17.5M	23.6M	27M	23.6M	22.5M	168.1M	131M	106M
Receivables	8M	7.2M	12.8M	9.1M	10.5M	19.4M	53.7M	28.4M	21.3M	18M
Inventory	8.4M	8.5M	10.1M	9M	14.4M	27.5M	82.2M	98.1M	66.8M	42M
Total current assets	51.1M	41.1M	41.1M	42.5M	52.5M	71.5M	160.1M	296.3M	229.6M	198.5M
Property, plant & equipment	5.8M	5.4M	4.7M	5.4M	7.5M	7.3M	31.5M	35.4M	39.8M	18.1M
Goodwill & intangibles	5.1M	5.7M	20.4M	19.7M	19.4M	18.8M	25.6M	25.2M	25.9M	28.1M
Total assets	70.6M	69.5M	74.2M	81.9M	95.3M	125.9M	229.1M	355.5M	315.3M	306.2M
Accounts payable	2.6M	1.7M	2.4M	3.2M	3.7M	9.2M	24.1M	8.9M	6.7M	7M
Short-term debt	—	—	—	—	665.6K	915K	3.4M	5.8M	3.4M	2.8M
Total current liabilities	7.3M	4.2M	5M	6.6M	10.4M	20.5M	51.7M	29M	24.4M	36.6M
Long-term debt	—	—	—	0	2.1M	1.6M	29.1M	10.6M	15M	5.9M
Total liabilities	8M	5M	5.4M	7M	12.5M	22.1M	81.5M	40.4M	39.5M	50M
Shareholders' equity	62.6M	64.5M	68.9M	74.9M	82.8M	103.8M	147.6M	315.2M	275.8M	256.2M
Total debt	—	—	—	0	2.8M	2.5M	32.5M	16.5M	18.4M	8.8M
Net debt	—	—	—	-10.1M	-13.7M	-10.7M	15.8M	-21.3M	2.2M	-12.7M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	168.1M	162.8M	142.9M	123.8M	131M	113M	112M	117.2M	106M	96.4M	91.1M	101.2M
Receivables	28.4M	17.4M	21.9M	27.6M	21.3M	14.1M	24.2M	26.6M	18M	15M	20.9M	22.1M
Inventory	98.1M	94.6M	84M	74.9M	66.8M	59.2M	56.1M	53.8M	42M	40.2M	36.9M	33.4M
Total current assets	296.3M	276.6M	257.4M	236.2M	229.6M	197.9M	206.3M	212.6M	198.5M	165.7M	163M	170.9M
Property, plant & equipment	35.4M	36.2M	34.8M	37.4M	39.8M	42M	43M	37.8M	18.1M	17.2M	20.1M	19.2M
Goodwill & intangibles	25.2M	25.2M	25.6M	25.9M	25.9M	25.2M	24.9M	34.8M	28.1M	27.3M	26.2M	25.3M
Total assets	355.5M	335.6M	315.4M	318.1M	315.3M	303.2M	310.9M	314.7M	306.2M	268.1M	263.5M	267.1M
Accounts payable	8.9M	7.4M	5.9M	9M	6.7M	4.3M	8.7M	8.7M	7M	3.9M	3.7M	5.1M
Short-term debt	5.8M	6M	5.9M	3.2M	3.4M	3.7M	7.2M	7.3M	2.8M	2.9M	2.9M	2.7M
Total current liabilities	29M	25M	26.4M	28.2M	24.4M	18.7M	30.5M	35.9M	36.6M	13.2M	12.7M	13.6M
Long-term debt	10.6M	10M	9.1M	15.3M	15M	17.1M	14.5M	14.3M	5.9M	5.2M	8M	7.5M
Total liabilities	40.4M	35.5M	36.2M	43.5M	39.5M	35.8M	45M	50.2M	50M	18.4M	20.7M	21.2M
Shareholders' equity	315.2M	300.1M	279.2M	274.6M	275.8M	267.4M	265.9M	264.5M	256.2M	249.7M	242.8M	245.9M
Total debt	16.5M	16M	15M	18.5M	18.4M	20.7M	21.6M	21.7M	8.8M	8.1M	10.9M	10.3M
Net debt	-21.3M	-18.5M	-800K	-7.1M	2.2M	-9.7M	-7.2M	-12.2M	-12.7M	-5.8M	1.5M	-10.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	8M	3.8M	4.3M	4.6M	7.3M	20.3M	49.4M	32.5M	-12.5M	6.3M
Depreciation & amortization	1.4M	1.6M	2M	2.2M	2.4M	2.3M	3.4M	6.1M	7.4M	6.1M
Stock-based compensation	1.4M	2.3M	2M	1.7M	774K	1.3M	2.3M	3.6M	4.6M	4.6M
Change in working capital	-4M	861.6K	-4.1M	4.5M	-6.6M	-22.8M	-68.3M	9.7M	30.6M	10.3M
Operating cash flow	9.2M	8.7M	3.8M	13M	3.6M	924K	-13.5M	49.8M	26.1M	26.6M
Capital expenditure	-1.5M	-2M	-1.1M	-2.5M	-1.8M	-2M	-9.1M	-8.4M	-9.6M	—
Investing cash flow	-1.6M	-11.5M	-12.6M	-13M	-41K	-13.6M	-8.2M	-112.2M	-6.9M	-3.2M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-333.8K	-3.6M	-1.8M	0	-605K	-462K	-1.4M	-1.2M	-33.9M	-17.1M
Financing cash flow	32K	-4.2M	-1.9M	-236.7K	-247K	-998.1K	26.1M	114.5M	-36.9M	-16.6M
Net change in cash	7.7M	-7.1M	-10.7M	-209.1K	3.3M	-13.7M	4.4M	52.1M	-17.7M	6.8M
Free cash flow	9.9M	4.3M	3.4M	12.2M	4.8M	8.9M	-6.9M	10M	12.7M	21.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	2.7M	-5.3M	-5.9M	-447K	-827K	-1.9M	—	—	5.3M	-277K	-528K	3M
Depreciation & amortization	1.6M	1.7M	1.9M	1.9M	1.9M	1.8M	—	—	355K	1.6M	1.6M	1.6M
Stock-based compensation	1.1M	1.3M	1M	1.2M	1.2M	1.1M	—	—	852K	1.3M	1.3M	1M
Change in working capital	10.2M	16.7M	-1.7M	1.3M	14.2M	12.7M	—	—	4M	1.9M	-2.6M	2.3M
Operating cash flow	15.7M	14.1M	-4.5M	580K	16M	13.2M	4.4M	10M	8.4M	-1.4M	-1.1M	9.9M
Capital expenditure	-1.9M	-2.4M	-2M	-1.2M	-4M	-2.1M	—	—	—	—	—	—
Investing cash flow	128K	908K	248K	11.2M	-19.2M	13.4M	—	—	-20.5M	695K	4.9M	2.8M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-266K	-12.4M	-15.6M	-5.6M	-253K	-6.8M	—	—	12K	-6.3M	-7.3M	-915K
Financing cash flow	-267K	-12.4M	-15.6M	-7.4M	-3.9M	-6.5M	—	—	12K	-6.1M	-7.3M	-641K
Net change in cash	15.5M	2.6M	-19.9M	4.4M	-7.1M	20.2M	4.4M	10M	-12M	-6.8M	-3.5M	12M
Free cash flow	4.7M	5.4M	-8.2M	2.2M	9.8M	5.1M	—	—	8.9M	-2.4M	-2.1M	8.9M

Clearfield, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement