Clearfield Inc
CLFD—
Build a strategy around CLFD
Clearfield Inc AI Insights
Informational only. Not investment advice.Snapshot
- FCF of 21.8M TTM (14.5% margin) despite -8M net loss - cash generation masks GAAP losses, 5.3% FCF yield on EV[Free Cash Flow TTM]
- Revenue down -43% 3Y CAGR vs industry +0.8% median - severe demand destruction from fiber buildout slowdown[Total Revenue 3Y Growth]
- P/E of 275x vs industry 32x median on 0.11 EPS TTM - valuation assumes massive earnings recovery not yet visible[P/E Ratio]
Watch Triggers
- Total Revenue 1Y Growth: Accelerates above +10% — Confirms fiber buildout resumption; current +2% insufficient to justify valuation
- Inventory TTM: Drops below 35M (from 42M) — Signals destocking complete; unlocks working capital and improves FCF conversion
- Operating Margin TTM: Returns above 5% — Current 1.4% margin leaves no room for error; 5%+ validates operating leverage thesis
Bull Case
Fortress balance sheet: 3.4% debt/equity, 21.5M cash, 242M tangible book (1.7x P/B) provides downside protection and M&A optionality
Debt to EquityCash and Equivalents TTMP/B Ratio TTM
Gross margin 33.7% held despite -43% 3Y revenue decline - cost structure scales, operating leverage kicks in on recovery
Gross Margin TTMTotal Revenue 3Y Growth
Bear Case
Revenue -43% 3Y CAGR with only +2% 1Y recovery - fiber buildout pause may be structural, not cyclical
Total Revenue 3Y GrowthTotal Revenue 1Y Growth
P/E 275x and P/S 2.8x on declining business - market pricing in recovery that may take years to materialize
P/E RatioP/S Ratio
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
Leverage CLFD's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.
Forward Thesis
FCF-to-net-income divergence signals potential earnings inflection as inventory normalizes
1-3ylow
- 42M inventory (28% of revenue) vs 7M payables creates working capital drag
- 21.8M FCF proves operating model works when destocking ends
- Zero debt with 21.5M cash provides runway through downcycle
FCF 21.8M vs Net Income -8M TTMDebt/Equity 3.4% vs industry medianWorking capital 161.9M (high inventory)
Valuation Context
Caveats
CLFD Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$537.19M | — | ||
$538.73M | — | ||
0.00 | — | ||
$148.55M | -16.6% | — | |
$-0.62 | — | ||
-0.95% | +4.1% | — | |
-5.80% | -4.8% | — | |
$7.92M | -54.6% | — | |
-3.39% | -2.7% | — | |
Beta 5Y (Monthly) | unknown | — |
CLFD Dividend History
No dividends
CLFD Stock Splits
No stock splits
CLFD SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/07/26 | 03/31/26 | 10-Q | |
02/09/26 | 12/31/25 | 10-Q | |
11/25/25 | 09/30/25 | Unknown | |
08/07/25 | 06/30/25 | 10-Q | |
05/09/25 | 03/31/25 | 10-Q | |
02/07/25 | 12/31/24 | 10-Q | |
11/15/24 | 09/30/24 | 10-K | |
08/06/24 | 06/30/24 | 10-Q | |
05/07/24 | 03/31/24 | 10-Q | |
02/05/24 | 12/31/23 | 10-Q | |
11/29/23 | 09/30/23 | 10-K | |
08/08/23 | 06/30/23 | 10-Q | |
05/08/23 | 03/31/23 | 10-Q | |
02/07/23 | 12/31/22 | 10-Q | |
11/23/22 | 09/30/22 | 10-K | |
08/03/22 | 06/30/22 | 10-Q | |
05/04/22 | 03/31/22 | 10-Q | |
02/02/22 | 12/31/21 | 10-Q | |
11/10/21 | 09/30/21 | 10-K | |
07/23/21 | 06/30/21 | 10-Q | |
04/28/21 | 03/31/21 | 10-Q | |
02/03/21 | 12/31/20 | 10-Q | |
11/12/20 | 09/30/20 | 10-K | |
07/30/20 | 06/30/20 | 10-Q | |
05/01/20 | 03/31/20 | 10-Q | |
01/29/20 | 12/31/19 | 10-Q | |
11/15/19 | 09/30/19 | 10-K | |
08/01/19 | 06/30/19 | 10-Q | |
05/01/19 | 03/31/19 | 10-Q | |
02/06/19 | 12/31/18 | 10-Q | |
11/14/18 | 09/30/18 | 10-K | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
01/29/18 | 12/31/17 | 10-Q | |
11/15/17 | 09/30/17 | 10-K | |
07/31/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/07/17 | 12/31/16 | 10-Q | |
11/22/16 | 09/30/16 | 10-K | |
08/03/16 | 06/30/16 | 10-Q | |
05/04/16 | 03/31/16 | 10-Q | |
02/03/16 | 12/31/15 | 10-Q | |
11/25/15 | 09/30/15 | 10-K | |
07/29/15 | 06/30/15 | 10-Q | |
04/29/15 | 03/31/15 | 10-Q | |
02/04/15 | 12/31/14 | 10-Q | |
11/26/14 | 09/30/14 | 10-K | |
07/29/14 | 06/30/14 | 10-Q | |
04/29/14 | 03/31/14 | 10-Q | |
01/30/14 | 12/31/13 | 10-Q | |
11/21/13 | 09/30/13 | 10-K | |
08/08/13 | 06/30/13 | 10-Q | |
05/03/13 | 03/31/13 | 10-Q | |
01/31/13 | 12/31/12 | 10-Q | |
12/04/12 | 09/30/12 | 10-K | |
07/31/12 | 06/30/12 | 10-Q | |
05/04/12 | 03/31/12 | 10-Q | |
01/27/12 | 12/31/11 | 10-Q | |
11/30/11 | 09/30/11 | 10-K | |
07/29/11 | 06/30/11 | 10-Q | |
04/29/11 | 03/31/11 | 10-Q | |
02/01/11 | 12/31/10 | 10-Q | |
11/18/10 | 09/30/10 | 10-K | |
08/03/10 | 06/30/10 | 10-Q | |
05/04/10 | 03/31/10 | 10-Q | |
02/04/10 | 12/31/09 | 10-Q | |
12/18/09 | 09/30/09 | 10-K | |
08/10/09 | 06/30/09 | 10-Q | |
05/11/09 | 03/30/09 | 10-Q | |
02/09/09 | 12/31/08 | 10-Q | |
12/22/08 | 09/30/08 | 10-K | |
06/30/08 | 06/30/08 | 10QSB | |
03/31/08 | 03/30/08 | Unknown | -- |
12/31/07 | 12/31/07 | 10QSB | |
06/30/07 | 06/30/07 | 10QSB | |
06/22/07 | 03/30/07 | Unknown | -- |
02/13/07 | 12/31/06 | 10-Q | |
11/09/06 | 09/30/06 | 10-Q | |
08/10/06 | 06/30/06 | 10-Q | |
06/28/06 | 03/30/06 | Unknown | -- |
02/14/06 | 12/31/05 | 10-Q | |
11/14/05 | 09/30/05 | 10-Q | |
08/12/05 | 06/30/05 | 10-Q | |
06/28/05 | 03/30/05 | Unknown | -- |
02/10/05 | 12/31/04 | 10-Q | |
11/05/04 | 09/30/04 | 10-Q | |
08/12/04 | 06/30/04 | 10-Q | |
06/29/04 | 03/30/04 | Unknown | -- |
02/13/04 | 12/31/03 | 10-Q | |
11/05/03 | 09/30/03 | 10-Q | |
08/13/03 | 06/30/03 | 8-K | |
07/01/03 | 03/30/03 | Unknown | -- |
02/14/03 | 12/31/02 | 10-Q | |
11/13/02 | 09/30/02 | 10-Q | |
08/01/02 | 06/30/02 | 10-Q | |
06/14/02 | 03/30/02 | Unknown | -- |
02/06/02 | 12/31/01 | 10-Q | |
11/01/01 | 09/30/01 | 4 | |
08/08/01 | 06/30/01 | 10-Q | |
06/29/01 | 03/30/01 | Unknown | -- |
02/07/01 | 12/31/00 | 10-Q | |
11/13/00 | 09/30/00 | 10-Q | |
08/11/00 | 06/30/00 | 10-Q | |
06/29/00 | 03/30/00 | Unknown | -- |