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CLFD

Clearfield, Inc.

CLFD

Clearfield, Inc. • NASDAQ
$29.36 ▲ 3.13% (+0.89)
Market Cap $406.32 M
52w High $46.76
52w Low $23.78
Dividend Yield 0%
P/E 65.24
Volume 116.97K
Outstanding Shares 13.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $17.587M ▼ $8.596M ▼ $-9.078M ▼ -51.618% ▼ $-0.65 ▼ $6.593M ▲
Q3-2025 $49.903M ▲ $13.738M ▼ $1.606M ▲ 3.218% ▲ $0.12 ▲ $5.139M ▲
Q2-2025 $47.168M ▲ $13.93M ▲ $1.327M ▲ 2.813% ▲ $0.094 ▲ $3.724M ▲
Q1-2025 $35.476M ▼ $12.158M ▼ $-1.906M ▼ -5.373% ▼ $-0.13 ▼ $-394K ▼
Q4-2024 $46.772M $13.681M $-827K -1.768% $-0.057 $736K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $105.977M ▼ $306.173M ▼ $50.01M ▼ $256.163M ▼
Q3-2025 $117.229M ▲ $314.71M ▲ $50.234M ▲ $264.476M ▼
Q2-2025 $111.99M ▼ $310.857M ▲ $44.958M ▲ $265.899M ▼
Q1-2025 $113.014M ▼ $303.23M ▼ $35.795M ▼ $267.435M ▼
Q4-2024 $130.992M $315.275M $39.512M $275.763M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $5.282M ▲ $11.334M ▲ $-20.902M ▼ $-1.881M ▲ $-12.378M ▼ $11.812M ▲
Q3-2025 $1.606M ▲ $7.918M ▲ $838K ▲ $-3.605M ▼ $5.023M ▲ $7.419M ▲
Q2-2025 $1.327M ▲ $3.048M ▼ $-2.172M ▼ $-2.367M ▲ $-1.605M ▼ $395K ▼
Q1-2025 $-1.906M ▼ $7.15M ▼ $13.392M ▲ $-6.388M ▼ $14.286M ▲ $5.081M ▼
Q4-2024 $-827K $13.759M $-19.218M $-3.869M $-9.457M $9.8M

Five-Year Company Overview

Income Statement

Income Statement Revenue grew strongly through the early part of the period, then flattened and has recently stepped down. Profitability followed the same pattern: solid operating and net profits during the growth phase, shifting to a loss in the most recent year. This suggests the company built cost and capacity for a higher demand environment and is now feeling the impact of weaker orders and less favorable pricing. The swing from healthy earnings to a loss highlights Clearfield’s exposure to the telecom spending cycle and its operating leverage—results can look very good in up years and quite weak when orders slow.

Balance Sheet

Balance Sheet The balance sheet still looks like a relative strength. Assets and shareholders’ equity expanded meaningfully as the business grew, and even with the recent slowdown the company remains largely equity-funded. Debt is present but not dominant, and cash reserves, while not large, appear reasonable when paired with ongoing positive operating cash flow. Overall, the company seems to have a conservative capital structure, giving it some flexibility to ride out industry downturns or invest selectively without being overly constrained by lenders.

Cash Flow

Cash Flow Cash generation has been steady rather than spectacular, but importantly it has stayed positive from operations even as reported earnings weakened. Investment spending on equipment and facilities has been modest, which has generally allowed the company to maintain positive free cash flow in most years. This pattern points to a business that can usually fund its needs from internal cash rather than relying heavily on new borrowing or equity, though it does not leave a large cushion if conditions were to worsen significantly.

Competitive Edge

Competitive Edge Clearfield has carved out a clear niche serving smaller and mid‑sized broadband providers rather than chasing the largest global carriers. Its reputation centers on simple, modular, “plug‑and‑play” fiber solutions that reduce the need for highly specialized labor and speed up deployments. That value proposition—lower complexity and lower total cost of ownership—is appealing for budget‑constrained community networks. The company’s close relationships, training support, and focus on this underserved segment give it a defensible position, though it still operates in a competitive market with large, well‑funded rivals and is tied to customers’ capital spending cycles.

Innovation and R&D

Innovation and R&D Innovation is a core part of Clearfield’s story. Its modular cassette architecture and unified fiber management platform simplify installation and scaling, which is a genuine technical and practical edge for customers. The company keeps layering new products on this base—enclosures, cabinets, and fiber‑only pedestals designed for easier deployment and lower logistics costs. Management is also signaling future focus areas such as data centers, 5G backhaul, and broader broadband applications in North America. While details and timelines remain uncertain, ongoing investment in product development and customer‑oriented design suggests the company is actively trying to extend its advantage rather than simply defending its current line‑up.

Summary

Clearfield looks like a niche fiber‑infrastructure player that enjoyed a strong upcycle, invested to support that growth, and is now working through a more difficult demand environment. The income statement shows how sensitive its profits are to swings in telecom spending, but the balance sheet and cash flow indicate a relatively conservative, resilient financial base. Competitively, the company stands out through its focus on smaller broadband providers and its easy‑to‑deploy, modular product architecture, which together form a practical moat. Its innovation pipeline and North America‑focused growth strategy hint at further opportunity in areas like broadband expansion, 5G, and data centers, but the pace and scale of that potential remain uncertain and will depend heavily on broader network investment trends and Clearfield’s ability to execute in new segments.

NEWS

November 25, 2025 · 7:01 AM UTC

Clearfield Announces Increase to Share Repurchase Program

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November 25, 2025 · 7:00 AM UTC

Clearfield Reports Fourth Quarter and Full Year 2025 Results

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November 10, 2025 · 9:00 AM UTC

Clearfield's ClearPass Connector Cleaning Dust Cap Surpasses 2 Million Worldwide

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November 4, 2025 · 6:00 PM UTC

Clearfield Sets Fiscal Fourth Quarter 2025 Earnings Call for Tuesday, November 25, 2025

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October 1, 2025 · 11:22 AM UTC

Clearfield Expands Leadership Team with Key Executive Appointments

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