Clearfield (CLFD)
NASDAQ:CLFD
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Clearfield
(NASDAQ:CLFD)
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Rating:64Neutral
Price Target:
$30.00
▲(0.07% Upside)
Action:ReiteratedDate:02/28/26
The score is driven primarily by a strong balance sheet and continued positive free cash flow that help offset a weak TTM income statement with a severe revenue reset and net losses. The earnings call adds support via a revenue beat, improved gross margin, reiterated FY2026 guidance, and substantial liquidity/buybacks, while technicals are moderately positive near-term but still below the 200-day trend. Valuation is a headwind due to negative earnings (negative P/E) and no dividend data.
Positive Factors
Balance sheet strength
A large cash position with no debt materially increases financial flexibility over the next 2–6 months and beyond. It allows Clearfield to fund product launches, sustain operations through demand cyclicality, execute buybacks or strategic M&A, and reduces refinancing risk during industry funding lulls.
Negative Factors
Severe revenue decline
A ~76% TTM revenue drop is a structural headwind that weakens scale economics and bargaining leverage. Reduced top-line volume can depress fixed-cost absorption, limit reuse of sales/engineering investments, and make multi-quarter recovery dependent on uneven external infrastructure funding and customer build schedules.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
A large cash position with no debt materially increases financial flexibility over the next 2–6 months and beyond. It allows Clearfield to fund product launches, sustain operations through demand cyclicality, execute buybacks or strategic M&A, and reduces refinancing risk during industry funding lulls.
Read all positive factors
Clearfield (CLFD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$395.37M
Dividend YieldN/A
Average Volume (3M)131.59K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-11.28%
EPS Growth25.80%
CountryUS
Employees400
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-0.04
Shares Outstanding13,685,411
10 Day Avg. Volume178,566
30 Day Avg. Volume131,588
Financial Highlights & Ratios
PEG Ratio1.88
Price to Book (P/B)1.88
Price to Sales (P/S)3.20
P/FCF Ratio19.47
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue2.55
Enterprise Value/Gross Profit7.08
Enterprise Value/Ebitda22.67
Forecast
1Y Price Target
$44.25Price Target Upside47.60% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.52
Revenue Forecast (FY)$164.21M
Clearfield Business Overview & Revenue Model
Company Description
Clearfield, Inc. manufactures, markets, and sells standard and custom passive connectivity products to the fiber-to-the-premises, enterprises, and original equipment manufacturers markets in the United States and internationally. The company offer...
How the Company Makes Money
Clearfield makes money primarily by selling fiber optic connectivity and fiber management hardware to customers building or expanding fiber networks. Revenue is generated from product sales that typically include fiber distribution, termination, a...
Clearfield Key Performance Indicators (KPIs)
Any
Net Revenue by Geography
Data provided by:
The Fly
The FlyClearfield Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presented a generally positive operational and financial tone: revenue beat guidance (+16% YoY), gross margin improved notably (+4.0 percentage points), the balance sheet is strong ($157M cash and no debt), and management reiterated full‑year guidance while executing strategic investments (Nova launch, expanded sales organization, share repurchases). Offsetting items include a persistent small net loss per share, a meaningful increase in operating expenses (~23%), supply chain risks tied to BABA‑compliant fiber that could delay BEAD‑driven revenue, and softness/lumpiness in the cable segment. Overall, the positive revenue/margin performance, cash position and strategic initiatives outweigh the near‑term challenges, but risks around supply chain and elevated operating investments warrant monitoring.Positive Updates
Revenue Beat and Year‑over‑Year Growth
First‑quarter net sales from continuing operations were $34.3 million, above guidance of $30.0–$33.0 million and up 16% year‑over‑year from $29.7 million.
Negative Updates
Persistent Net Loss (Continuing Operations)
Net loss per share from continuing operations remained a loss of $0.02 in the quarter (unchanged year‑over‑year), indicating the company has not yet returned to GAAP profitability on continuing operations.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Year‑over‑Year Growth
First‑quarter net sales from continuing operations were $34.3 million, above guidance of $30.0–$33.0 million and up 16% year‑over‑year from $29.7 million.
Read all positive updates
Company Guidance
Clearfield reported Q1 net sales of $34.3M (above prior guidance of $30–33M) and gave forward-looking ranges of $32–35M net sales for the next quarter, operating expenses “up slightly” versus Q1, and net loss per diluted share of $0.02–$0.10; for full-year fiscal 2026 it reiterated net sales guidance of $160–170M, expects operating expenses as a percentage of revenue to be consistent with FY2025, and forecasted earnings per share from continuing operations of $0.48–$0.62. Management also said BEAD-related revenue and initial contribution from the new Nova platform should be modest in FY26, that the EPS ranges assume quarter-end shares outstanding (and exclude potential additional repurchases), and highlighted liquidity and capital items including roughly $157M in cash/short‑ and long‑term investments, no debt, $5.2M spent to repurchase 179,000 shares in the quarter, and $23.1M remaining on an $85M repurchase authorization as of 12/31/2025.Clearfield Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
82
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 149.00M | 150.13M | 125.57M | 225.72M | 270.88M | 140.76M |
| Gross Profit | 53.74M | 50.54M | 25.85M | 79.86M | 112.95M | 61.18M |
| EBITDA | 16.79M | 14.79M | -5.84M | 47.37M | 67.23M | 28.04M |
| Net Income | -6.76M | -8.05M | -12.45M | 32.53M | 49.36M | 20.33M |
Balance Sheet | ||||||
| Total Assets | 268.05M | 306.17M | 315.27M | 355.52M | 229.13M | 125.91M |
| Cash, Cash Equivalents and Short-Term Investments | 96.44M | 105.98M | 128.97M | 168.11M | 22.45M | 23.59M |
| Total Debt | 8.08M | 8.76M | 13.52M | 16.48M | 36.85M | 2.53M |
| Total Liabilities | 18.40M | 50.01M | 39.51M | 40.35M | 81.55M | 22.09M |
| Stockholders Equity | 249.65M | 256.16M | 275.76M | 315.16M | 147.58M | 103.82M |
Cash Flow | ||||||
| Free Cash Flow | 18.58M | 24.71M | 12.66M | 11.63M | -8.15M | 8.86M |
| Operating Cash Flow | 22.24M | 29.45M | 22.22M | 20.01M | 1.00M | 10.90M |
| Investing Cash Flow | -22.53M | -8.84M | -6.90M | -112.25M | -8.20M | -13.60M |
| Financing Cash Flow | -15.14M | -14.24M | -36.91M | 113.42M | 10.65M | -536.00K |
Clearfield Technical Analysis
Positive
29.98
Price Trends
29.59
Positive
29.78
Positive
32.92
Negative
Market Momentum
-0.26
Negative
61.71
Neutral
91.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLFD, the sentiment is Positive. The current price of 29.98 is above the 20-day moving average (MA) of 27.68, above the 50-day MA of 29.59, and below the 200-day MA of 32.92, indicating a neutral trend. The MACD of -0.26 indicates Negative momentum. The RSI at 61.71 is Neutral, neither overbought nor oversold. The STOCH value of 91.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLFD.
Clearfield Risk Analysis
Clearfield disclosed 23 risk factors in its most recent earnings report. Clearfield reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clearfield Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $364.77M | 20.23 | 34.98% | ― | 12.46% | 55.98% | |
67 Neutral | $1.40B | 37.11 | 5.50% | ― | 47.87% | -21.87% | |
64 Neutral | $395.37M | -164.62 | -2.61% | ― | -11.28% | 25.80% | |
63 Neutral | $295.85M | 12.04 | 5.54% | ― | 3.39% | ― | |
62 Neutral | $225.62M | -90.22 | -1.22% | ― | -14.07% | -108.42% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | $49.65M | -8.96 | -19.98% | ― | 164.99% | 68.12% |
* Technology Sector Average
CLFD
Clearfield
28.89
-0.89
-2.99%
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Clearfield Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Clearfield Extends Loan Agreement Maturity with Old National
Neutral
Apr 30, 2026
On April 25, 2026, Clearfield, Inc. amended its existing loan agreement with Old National Bank, extending the maturity of its line of credit from April 25, 2026 to July 24, 2026 and incorporating updated interest and payment terms previously conta...
Executive/Board ChangesShareholder Meetings
Clearfield Shareholders Back Board, Executive Pay and Auditor
Positive
Feb 27, 2026
On February 26, 2026, Clearfield held its 2026 Annual Meeting of Shareholders, with approximately 73% of outstanding common shares represented, reflecting solid investor participation in the company’s governance process. Shareholders elected...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.