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Clearfield, Inc. (CLFD) stock analysis

CLFDNasdaqTelephone & Telegraph ApparatusFiscal year ends September 30
Financials through Q3 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026Score 9/3059% above fair value
$30.59+0.40 (+1.32%)

Close on Nov 11, 2026Market cap $415.53MP/E –Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value1Growth1Performance1Health6Dividend0

Mixed9 of 30 checks passed

Clearfield passes 9 of the 30 checks behind our score; 10 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
1/6
Growth
1/6
Past performance
1/6
Financial health
6/6
Dividend
0/6

What stands out

  • No debt

    Clearfield has no borrowings on its latest balance sheet.

  • Interest well covered

    No meaningful interest expense to cover.

  • Debt covered by cash flow

    There is no debt to cover.

  • Low bankruptcy risk

    The Altman Z-score is 13.62; above 3 is the safe zone and below 1.8 the distress zone.

What to watch

  • Margin of safety under 20%

    The price is 59.1% above fair value, so there is no margin of safety.

  • Trading above fair value

    The share price of $30.59 is above our fair value estimate of $19.22.

  • Return on equity under 15%

    Return on equity was -2.8% over the last twelve months and averaged 13.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -0.2%, below the 10% that usually covers the cost of capital.

Valuation1/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E against the industry

    Needs positive earnings and enough profitable companies in the industry.

  • EV/EBITDA above its 5-year median

    Clearfield's EV/EBITDA of 54.8 is above its 5-year median of 25.0.

  • P/B below the industry

    Clearfield's price-to-book of 1.69 is below the Communications Equipment median of 2.54.

  • Trading above fair value

    The share price of $30.59 is above our fair value estimate of $19.22.

  • Margin of safety under 20%

    The price is 59.1% above fair value, so there is no margin of safety.

Growth1/6

  • Revenue growing under 10% a year

    Revenue grew -17.9% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 34.0% over the last twelve months; the Communications Equipment median is 10.9%.

  • Guidance lowered

    Clearfield lowered its fiscal 2026 net sales from continuing operations outlook on Aug 5, 2026.

  • Gross margin slipping

    Gross margin was 33.0% over the last twelve months, against 38.3% a year earlier.

Past performance1/6

  • Return on equity under 15%

    Return on equity was -2.8% over the last twelve months and averaged 13.6% over five years; we look for 15% on both.

  • Return on capital under 10%

    Return on invested capital was -0.2%, below the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Clearfield's return on equity of -2.8% is above the Communications Equipment median of -3.7%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin below its 5-year average

    Net margin was -4.7% over the last twelve months, against a 5-year average of 6.4%.

  • Net margin below the industry

    Clearfield's net margin of -4.7% is below the Communications Equipment median of -2.2%.

Financial health6/6

  • No debt

    Clearfield has no borrowings on its latest balance sheet.

  • Debt not rising

    With no debt today, leverage cannot have risen.

  • Debt covered by cash flow

    There is no debt to cover.

  • Interest well covered

    No meaningful interest expense to cover.

  • Short-term assets cover short-term debts

    Current assets are 12.53 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 13.62; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Clearfield has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$19.22

The share price is 59% above this estimate.

20%+ below
Near fair value
20%+ above
$30.59Price$19.22Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
EV/EBITDA22.5×25.0×20.0×$16.9658%
P/B2.2×1.9×2.5×$40.2217%
Earnings power12.5% cost of equity––$10.5025%
Fair value$19.22100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 26.9
  • Communications Equipment median 24.9

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Medium risk

Average value traded per day
$4.33M
Value traded per 1% price move
$1.60M

Downside

Medium risk

Typical loss in a bad month
22.7%
Volatility (annualized)
64%
Sharpe ratio, 1 year
-0.18
Beta to the S&P 500 (5Y)
1.53

Typical bad-month loss, week by week

25%: high

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

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