CLFD
Clearfield, Inc.
CLFD's fundamentals are mixed: its operating margin went from −2.9% to 2.3%, but revenue fell 27%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
CLFD Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Stable | |
| Healthy |
CLFD's balance sheet is currently healthy, and its cash flow is stable, but its revenue and profitability are under pressure.
CLFD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | N/A | N/A |
| Forward | 35x | $31.27 | — |
| Fair | 37x | N/A | N/A |
| Expensive | 46x | N/A | N/A |
| Current | 223x | $31.27 | — |
Historical ranges are pointers, not guarantees.
CLFD's PE is 223x, but its earnings don't support one, so it isn't a reliable read right now.
CLFD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for CLFD, with profitability improving. However, they disagree widely on these estimates.
CLFD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.89 | — |
| Q2 2026 | -$0.51 | -5200% |
| Q1 2026 | -$0.62 | -$0.48 |
| Q4 2025 | -$0.49 | +$0.14 |
| Q3 2025 | -$0.58 | +$0.27 |
| Q2 2025 | $0.01 | +$0.63 |
| Q1 2025 | -$0.14 | +$0.11 |
| Q4 2024 | -$0.63 | -177% |
| Q3 2024 | -$0.85 | -139% |
CLFD has swung to a loss: it lost $0.51 per share over the past year, after a profit the year before.
CLFD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $43.9M | -12% |
| Q1 2026 | $34.4M | -27% |
| Q4 2025 | $34.3M | -3.2% |
| Q3 2025 | $17.6M | -62% |
| Q2 2025 | $49.9M | +2.3% |
| Q1 2025 | $47.2M | +28% |
| Q4 2024 | $35.5M | +3.6% |
| Q3 2024 | $46.8M | -5.9% |
CLFD's revenue has slid since its 2022 peak: $44M last quarter, down 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 5.9% | +2.9 points |
| Q1 2026 | -6% | -6.6 points |
| Q4 2025 | -5.3% | +5.9 points |
| Q3 2025 | 25% | +31 points |
| Q2 2025 | 3% | +7.7 points |
| Q1 2025 | 0.6% | +27 points |
| Q4 2024 | -11% | +13 points |
| Q3 2024 | -6.4% | -9.9 points |
CLFD's operating margin was 5.9% last quarter, up 2.9 points from the same quarter a year ago.
CLFD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $8.9M | +19% |
| Q1 2026 | -$2.1M | -420% |
| Q4 2025 | -$2.4M | -148% |
| Q3 2025 | $8.9M | -9% |
| Q2 2025 | $7.5M | +184% |
| Q1 2025 | $654K | +$5.9M |
| Q4 2024 | $5.1M | -7.2% |
| Q3 2024 | $9.8M | +82% |
CLFD still generates free cash flow, though less than at its 2024 peak: $13M over the past year.
CLFD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -78.4K shares |
| 1 year | -1.7% | -242K shares |
| 3 years | -11% | -1.7M shares |
| 5 years | -1.6% | -220K shares |
| Available history | +1% | +141K shares |
CLFD has 14M diluted shares, down 1.7% from a year ago, with $14M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $897,000 |
| Q1 2026 | $7.3M |
| Q4 2025 | $5.3M |
| Q3 2025 | $12,000 |
| Q2 2025 | $5.7M |
| Q1 2025 | $4.7M |
| Q4 2024 | $6.3M |
| Q3 2024 | — |
CLFD spent $14M buying back its own shares over the past year, down 19% from the year before.
CLFD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -2.5x | Net Cash |
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -2.7x | Net Cash |
| Q2 2025 | -13.5x | Net Cash |
| Q4 2023 | -1.8x | Net Cash |
| Q3 2023 | -0.8x | Net Cash |
| Q2 2023 | -0.5x | Net Cash |
CLFD has more cash than debt.
CLFD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.5 | Neutral |
| Stochastic | 55.1 | Neutral |
CLFD's weekly RSI is 50 (neutral) and its Stochastic is 55 (neutral).
CLFD PE vs Technology Sector
| Metric | CLFD | Sector median | Relative |
|---|---|---|---|
| PE | 223x | 28x | 702% above |
| PE % | 94 | 35 | 59 pts above |
CLFD is trading at 223x earnings, a 702% premium to the Technology sector's median of 28x, though its earnings don't support one.
CLFD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.0 | 1% above |
| 20 week MA | $30.5 | 2.6% above |
| 50 week MA | $31.9 | 2% below |
| 100 week MA | $33.1 | 5.6% below |
| 200 week MA | $35.4 | 12% below |
CLFD has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 12% below its 200-week average.
CLFD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.9 | $24.8 | +78% |
| 2021 | $24.8 | $78.5 | +217% |
| 2022 | $78.5 | $95.5 | +22% |
| 2023 | $95.5 | $29.1 | -70% |
| 2024 | $29.1 | $31.1 | +7% |
| 2025 | $31.1 | $30.2 | -3.1% |
| 2026 YTD | $30.2 | $31.3 | +3.6% |
CLFD's yearly returns have swung widely, from +217% in 2021 to −70% in 2023. It's up 3.6% so far in 2026.