Clearfield Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Clearfield has an operating margin of 1.4%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 7/100, suggesting thin profitability after operating expenses. This is up from -15.3% the prior year.
Clearfield's revenue surged 19.6% year-over-year to $150.1M, reflecting rapid business expansion. This strong growth earns a score of 84/100.
Clearfield carries a low D/E ratio of 0.20, meaning only $0.20 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.42, Clearfield holds $5.42 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Clearfield converts 14.5% of revenue into free cash flow ($21.8M). This strong cash generation earns a score of 73/100.
Clearfield scores 7.00, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($447.2M) relative to total liabilities ($50.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Clearfield passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Clearfield generates $-3.30 in operating cash flow ($26.6M OCF vs -$8.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
This page shows Clearfield (CLFD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Clearfield generated $150.1M in revenue in fiscal year 2025. This represents an increase of 19.6% from the prior year.
Clearfield's EBITDA was $8.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 161.9% from the prior year.
Clearfield generated $21.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 72.3% from the prior year.
Clearfield reported -$8.1M in net income in fiscal year 2025. This represents an increase of 35.4% from the prior year.
Clearfield earned $-0.58 per diluted share (EPS) in fiscal year 2025. This represents an increase of 31.8% from the prior year.
Clearfield held $21.5M in cash against $0 in long-term debt as of fiscal year 2025.
Clearfield had 14M shares outstanding in fiscal year 2025. This represents a decrease of 3.1% from the prior year.
Clearfield's gross margin was 33.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 13.1 percentage points from the prior year.
Clearfield's operating margin was 1.4% in fiscal year 2025, reflecting core business profitability. This is up 16.7 percentage points from the prior year.
Clearfield's net profit margin was -5.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.6 percentage points from the prior year.
Clearfield invested $2.4M in research and development in fiscal year 2025. This represents a decrease of 19.3% from the prior year.
Clearfield spent $16.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 50.1% from the prior year.
Clearfield invested $4.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 50.4% from the prior year.
CLFD Income Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $34K-99.9% | $34.3M-31.2% | $49.9M+5.8% | $47.2M+58.8% | $29.7M-39.1% | $48.8M+32.2% | $36.9M+7.8% | $34.2M |
| Cost of Revenue | $23K-99.9% | $23.0M-33.8% | $34.7M+5.1% | $33.0M+56.9% | $21.0M-44.8% | $38.1M+11.8% | $34.1M+15.4% | $29.5M |
| Gross Profit | $11K-99.9% | $11.4M-25.2% | $15.2M+7.3% | $14.2M+63.6% | $8.7M-18.9% | $10.7M+277.5% | $2.8M-39.7% | $4.7M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $13K-99.9% | $13.2M-3.8% | $13.7M-1.4% | $13.9M+29.9% | $10.7M-17.5% | $13.0M+3.4% | $12.6M-2.2% | $12.9M |
| Operating Income | $2K+100.1% | -$1.8M-221.9% | $1.5M+471.0% | $262K+112.8% | -$2.0M+11.3% | -$2.3M+76.3% | -$9.7M-19.3% | -$8.2M |
| Interest Expense | N/A | N/A | $106K+53.6% | $69K-31.0% | $100K-34.6% | $153K+50.0% | $102K-19.0% | $126K |
| Income Tax | $1+100.1% | -$1K-100.1% | $1.4M+201.5% | $455K+758.5% | $53K+119.1% | -$277K+86.7% | -$2.1M-119.0% | -$951K |
| Net Income | $614+100.1% | -$614K-138.2% | $1.6M+21.0% | $1.3M+169.6% | -$1.9M-326.4% | -$447K+92.4% | -$5.9M-12.2% | -$5.3M |
| EPS (Diluted) | $0.04+200.0% | $-0.04-136.4% | $0.11+22.2% | $0.09+169.2% | $-0.13-225.0% | $-0.04+90.0% | $-0.40-14.3% | $-0.35 |
CLFD Balance Sheet
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $268K-99.9% | $268.1M-14.8% | $314.7M+1.2% | $310.9M+2.5% | $303.2M-3.8% | $315.3M0.0% | $315.4M-6.0% | $335.6M |
| Current Assets | $166K-99.9% | $165.7M-22.1% | $212.6M+3.1% | $206.3M+4.2% | $197.9M-13.8% | $229.6M-10.8% | $257.4M-6.9% | $276.6M |
| Cash & Equivalents | $14K-99.9% | $13.9M-59.0% | $33.9M+17.4% | $28.8M-5.3% | $30.5M+115.2% | $14.1M-10.6% | $15.8M-54.1% | $34.5M |
| Inventory | $40K-99.9% | $40.2M-25.2% | $53.8M-4.2% | $56.1M-5.3% | $59.2M+5.6% | $56.1M-33.2% | $84.0M-11.2% | $94.6M |
| Accounts Receivable | $15K-99.9% | $15.0M-43.7% | $26.6M+10.0% | $24.2M+72.0% | $14.1M+1.6% | $13.8M-36.8% | $21.9M+26.1% | $17.4M |
| Goodwill | N/A | $4.7M-30.1% | $6.7M+2.5% | $6.6M+1.2% | $6.5M-2.0% | $6.6M+0.9% | $6.6M-0.7% | $6.6M |
| Total Liabilities | $18K-99.9% | $18.4M-63.4% | $50.2M+11.7% | $45.0M+25.6% | $35.8M-9.4% | $39.5M+9.2% | $36.2M+1.9% | $35.5M |
| Current Liabilities | $13K-99.9% | $13.2M-63.2% | $35.9M+17.7% | $30.5M+62.8% | $18.7M-23.1% | $24.4M-7.7% | $26.4M+5.7% | $25.0M |
| Long-Term Debt | N/A | N/A | $0 | $0-100.0% | $2.1M-7.0% | $2.2M | N/A | N/A |
| Total Equity | $250K-99.9% | $249.7M-5.6% | $264.5M-0.5% | $265.9M-0.6% | $267.4M-3.0% | $275.8M-1.2% | $279.2M-7.0% | $300.1M |
| Retained Earnings | $106K-99.9% | $106.3M-8.4% | $116.0M+1.4% | $114.4M+1.2% | $113.1M-1.7% | $115.0M-1.1% | $116.2M-4.8% | $122.1M |
CLFD Cash Flow Statement
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1K+100.1% | -$1.4M-118.2% | $7.9M+159.8% | $3.0M-57.4% | $7.2M-45.4% | $13.1M+329.4% | -$5.7M-152.8% | $10.8M |
| Capital Expenditures | $988-99.9% | $988K+142.8% | $407K-83.0% | $2.4M+15.7% | $2.1M-47.7% | $4.0M+100.9% | $2.0M-16.2% | $2.4M |
| Free Cash Flow | $452+100.0% | -$2.4M-132.3% | $7.5M+1048.5% | $654K-87.1% | $5.1M-44.4% | $9.1M+219.0% | -$7.7M-190.9% | $8.4M |
| Investing Cash Flow | N/A | N/A | $838K+138.6% | -$2.2M-116.2% | $13.4M+169.7% | -$19.2M-7849.2% | $248K-72.7% | $908K |
| Financing Cash Flow | N/A | N/A | -$3.6M-52.3% | -$2.4M+62.9% | -$6.4M-99.5% | -$3.2M+75.7% | -$13.2M+13.0% | -$15.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $5K-99.9% | $5.3M-6.6% | $5.7M+19.2% | $4.7M-24.5% | $6.3M | $0-100.0% | $15.6M+28.3% | $12.2M |
CLFD Financial Ratios
| Metric | Q1'26 | Q1'25 | Q3'25 | Q2'25 | Q1'24 | Q3'24 | Q2'24 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2%0.0pp | 33.2%+2.6pp | 30.5%+0.4pp | 30.1%+0.9pp | 29.2%+7.3pp | 21.9%+14.2pp | 7.7%-6.0pp | 13.7% |
| Operating Margin | 5.3%+10.6pp | -5.3%-8.3pp | 3.0%+2.4pp | 0.6%+7.4pp | -6.9%-2.2pp | -4.7%+21.7pp | -26.4%-2.6pp | -23.8% |
| Net Margin | 1.8%+3.6pp | -1.8%-5.0pp | 3.2%+0.4pp | 2.8%+9.2pp | -6.4%-5.5pp | -0.9%+15.1pp | -16.0%-0.6pp | -15.4% |
| Return on Equity | 0.3% | N/A | 0.6%+0.1pp | 0.5% | N/A | N/A | N/A | N/A |
| Return on Assets | 0.2%+0.5pp | -0.2%-0.7pp | 0.5%+0.1pp | 0.4%+1.1pp | -0.6%-0.5pp | -0.1%+1.7pp | -1.9%-0.3pp | -1.6% |
| Current Ratio | 12.550.0 | 12.55+6.6 | 5.92-0.8 | 6.76-3.8 | 10.57+1.1 | 9.43-0.3 | 9.76-1.3 | 11.09 |
| Debt-to-Equity | 0.070.0 | 0.07+0.1 | 0.000.0 | 0.000.0 | 0.010.0 | 0.01-0.1 | 0.13+0.0 | 0.12 |
| FCF Margin | 1.3%+8.4pp | -7.1%-22.1pp | 15.0%+13.7pp | 1.4%-15.7pp | 17.1%+11.3pp | 5.8%+26.6pp | -20.8%-45.5pp | 24.7% |
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Frequently Asked Questions
What is Clearfield's annual revenue?
Clearfield (CLFD) reported $150.1M in total revenue for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Clearfield's revenue growing?
Clearfield (CLFD) revenue grew by 19.6% year-over-year, from $125.6M to $150.1M in fiscal year 2025.
Is Clearfield profitable?
No, Clearfield (CLFD) reported a net income of -$8.1M in fiscal year 2025, with a net profit margin of -5.4%.
What is Clearfield's earnings per share (EPS)?
Clearfield (CLFD) reported diluted earnings per share of $-0.58 for fiscal year 2025. This represents a 31.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Clearfield's EBITDA?
Clearfield (CLFD) had EBITDA of $8.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Clearfield's gross margin?
Clearfield (CLFD) had a gross margin of 33.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Clearfield's operating margin?
Clearfield (CLFD) had an operating margin of 1.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Clearfield's net profit margin?
Clearfield (CLFD) had a net profit margin of -5.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Clearfield's free cash flow?
Clearfield (CLFD) generated $21.8M in free cash flow during fiscal year 2025. This represents a 72.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Clearfield's operating cash flow?
Clearfield (CLFD) generated $26.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Clearfield's total assets?
Clearfield (CLFD) had $306.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Clearfield's capital expenditures?
Clearfield (CLFD) invested $4.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Clearfield spend on research and development?
Clearfield (CLFD) invested $2.4M in research and development during fiscal year 2025.
Does Clearfield buy back shares?
Yes, Clearfield (CLFD) spent $16.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Clearfield have outstanding?
Clearfield (CLFD) had 14M shares outstanding as of fiscal year 2025.
What is Clearfield's current ratio?
Clearfield (CLFD) had a current ratio of 5.42 as of fiscal year 2025, which is generally considered healthy.
What is Clearfield's debt-to-equity ratio?
Clearfield (CLFD) had a debt-to-equity ratio of 0.20 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Clearfield's return on assets (ROA)?
Clearfield (CLFD) had a return on assets of -2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Clearfield's Altman Z-Score?
Clearfield (CLFD) has an Altman Z-Score of 7.00, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Clearfield's Piotroski F-Score?
Clearfield (CLFD) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Clearfield's earnings high quality?
Clearfield (CLFD) has an earnings quality ratio of -3.30x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Clearfield?
Clearfield (CLFD) scores 73 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.