CLFDNasdaqTelephone & Telegraph ApparatusFiscal year ends September 30
Clearfield, Inc.
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$30.60+1.13 (+3.83%)
Close on Oct 19, 2026
- Market cap
- $415.92M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
33.7%−7.1 pts over 5 years
Operating margin
1.4%−7.6 pts over 5 years
Net margin
-5.4%−13.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +19.6% | -17.9% | +10.0% | +9.5% | |
| Gross profit | +95.5% | -23.5% | +5.9% | +7.3% | |
| Operating income | – | -67.9% | -24.1% | -11.3% | |
| Free cash flow | +122.9% | – | +35.1% | +25.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 14.1% | 9.2% | -3.0% | |
| Return on assets | 12.5% | 8.2% | -2.6% | |
| Current ratio | 6.96 | 5.04 | 5.42 | |
| Debt to equity | – | – | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | – | |
| Inventory turnover | 5.5× | 4.7× | 2.0× | |
| Capex to revenue | 2.1% | 1.9% | 3.2% | |
| Diluted shares | 14M | 14M | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Clearfield generated $82.08M from operations and spent $81.39M on capital expenditure, dividends and share buybacks. 39% of that went back into the business.
Generated
$82.08M
Used
$81.39M
Capital expenditure$31.36M39%Dividends$00%Share buybacks$50.03M61%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-5.4%
×Asset turnover0.48×
×Equity multiplier1.17×
=Return on equity, FY2025-3.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -5.4% | 0.48× | 1.17× | -3.0% |
| FY2024 | -9.9% | 0.37× | 1.14× | -4.2% |
| FY2023 | 14.4% | 0.77× | 1.26× | 14.1% |
| FY2022 | 18.2% | 1.53× | 1.41× | 39.3% |
| FY2021 | 14.4% | 1.27× | 1.19× | 21.8% |
| FY2020 | 7.8% | 1.05× | 1.12× | 9.2% |
| FY2019 | 5.4% | 1.09× | 1.09× | 6.4% |
| FY2018 | 5.5% | 1.08× | 1.08× | 6.4% |
| FY2017 | 5.2% | 1.06× | 1.10× | 6.1% |
| FY2016 | 10.6% | 1.17× | 1.13× | 14.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$8.05M
- Cash generatingOperating cash flow above zero$26.55M
- Return on assets improvedROA up on the prior year-3.5% → -2.6%
- Earnings backed by cashOperating cash flow above net income$26.55M vs -$8.05M
- Less leverageLong-term debt to assets fell0.7% → –
- Better liquidityCurrent ratio rose9.43 → 5.42
- No dilutionShare count did not rise15M → 14M
- Gross margin improvedGross margin up on the prior year20.58% → 33.66%
- More efficientAsset turnover rose0.35 → 0.48