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CLFDClearfield, Inc.
$31.83$433M
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
CLFD logo

Clearfield, Inc.

CLFD
NASDAQ · Communication Equipment
$31.83
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$433M
P/E-54.9x
52W High$52.73
Volume175.03K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Volatile Revenue Cycles Undermine Margin Recovery Prospects

Clearfield's revenue has experienced erratic swings, with a 12.1% year-over-year decline in 2026Q3, suggesting profound demand instability in its communication equipment markets. Gross margins have improved to 31.8% from a low of 7.7% in 2024Q2, but this rebou...

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

CLFD price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-141% Peers

P/E is 141% below peer median

03

Market leadership

RS 41 · Lag

Laggard (Underperforming 59% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CLFD+7.93%
S&P 500 (^GSPC)+13.20%
1-Year Return
CLFD-6.55%
S&P 500 (^GSPC)+15.98%
3-Year Return
CLFD+2.78%
S&P 500 (^GSPC)+82.02%
5-Year Return
CLFD-28.65%
S&P 500 (^GSPC)+75.78%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
-54.9x
Forward P/E
156.6x
EV/EBITDA75th %ile
51.0x
FCF YieldCash Flow
5.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
-54.9x
29.5x
0th· Low
EV/EBITDA
51.0x
21.9x
75th· Fair
Price/FCF
17.5x
44.9x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$150M+19.6% YoY
Net income
-$8M+35.4% YoY
Free cash flow
$25M+95.2% YoY
Operating margin
1.4%+16.7 pts YoY
ROIC (TTM)0.6%
Avg ROIC 5Y-
ROE (TTM)-3%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
$0.22+14.3%
vs $0.19
$44M-0.1%
vs $44M
Q2 2026
May 6, 2026
-$0.04+0.0%
vs -$0.04
$34M+2.4%
vs $34M
Q1 2026
Feb 4, 2026
-$0.02+50.0%
vs -$0.04
$34M+8.3%
vs $32M
Q4 2025
Nov 25, 2025
$0.13+44.4%
vs $0.09
$41M-17.1%
vs $50M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Business Wire·Sep 2, 2026
Clearfield Expands Wireless Infrastructure Market Reach Through Distribution Agreement with WAV

MINNEAPOLIS--(BUSINESS WIRE)--Clearfield, Inc. (NASDAQ: CLFD), a leader in fiber connectivity solutions for telecom, data center, and network infrastructure environments, today announced a distribution alliance with WAV, a full-service distributor serving wireless service providers, WISPs, and other connectivity-focused customers across the U.S. and Canada. The alliance supports Clearfield's strategy to expand its presence in the wireless market as fiber, power, and active infrastructure move d.

Defense World·Sep 2, 2026
BlackRock Inc. Takes Position in Clearfield, Inc. $CLFD

BlackRock Inc. purchased a new stake in shares of Clearfield, Inc. (NASDAQ: CLFD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 957,424 shares of the communications equipment provider's stock, valued at approximately $38,096,000. BlackRock Inc. owned about 7.05% of Clearfield at the

Defense World·Sep 1, 2026
Connor Clark & Lunn Investment Management Ltd. Invests $809,000 in Clearfield, Inc. $CLFD

Connor Clark and Lunn Investment Management Ltd. acquired a new stake in Clearfield, Inc. (NASDAQ: CLFD) in the undefined quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,328 shares of the communications equipment provider's stock, valued at approximately $809,000.

Seeking Alpha·Aug 28, 2026
Clearfield: A Painful Guidance Cut, But The Data Center Thesis Is Finally Validated

Clearfield is still a buy despite a FY2026 guidance cut driven by delayed broadband projects and fiber constraints. CLFD's $22 million hyperscale data center order provides the first tangible validation of its data center growth thesis. Current headwinds appear timing-related, not structural. Broadband demand is intact but delayed by BEAD rollout and fiber shortages.

Filtered for Clearfield, Inc.More Headlines
04

Compare before deciding

Benchmark CLFD against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Clearfield, Inc. (CLFD)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CLFD logoCLFDClearfield, Inc.Current
$31.83$432.55M-54.8819.56%-5.36%-3.03%—
CCOI logoCCOICogent Communications Holdings, Inc.
$9.31$466.22M-2.45-5.82%-7.2%——
ADTN logoADTNADTRAN Holdings Inc.
$7.29$590.48M-12.7917.46%-2.29%-5.07%—
CALX logoCALXCalix, Inc.
$35.15$2.21B135.1920.26%4.61%6.54%—
COMM logoCOMMCommScope Holding Company, Inc.
$17.82$3.95B-10.01-7.87%1.16%——
VIAV logoVIAVViavi Solutions Inc.
$36.40$8.98B242.678.39%-2%-3.16%—

Compare CLFD vs Peers

Clearfield, Inc. (CLFD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CCOI

Most directly comparable listed peer for CLFD.

Scale Benchmark

vs CSCO

Larger-name benchmark to compare CLFD against a more recognizable public peer.

Peer Set

Compare Top 5

vs CCOI, ADTN, CALX, COMM

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CLFD SEC Filings & Documents

Clearfield, Inc. (CLFD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jul 28, 2026·SEC

Material company update

May 6, 2026·SEC

10-K Annual Reports

3
FY 2025

Nov 25, 2025·SEC

FY 2024

Nov 15, 2024·SEC

FY 2023

Nov 29, 2023·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2026

Feb 9, 2026·SEC

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CLFD Frequently Asked Questions

Clearfield, Inc. (CLFD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Clearfield, Inc.'s revenue?

Clearfield, Inc. (CLFD) reported $130.2M in revenue for fiscal year 2025. This represents a 5107% increase from $2.5M in 1996.

How fast is Clearfield, Inc. growing?

Clearfield, Inc. (CLFD) grew revenue by 19.6% over the past year. This is strong growth.

Is CLFD profitable?

Clearfield, Inc. (CLFD) reported a net loss of $7.2M for fiscal year 2025.

Dividend & Returns
What is CLFD's return on equity?

Clearfield, Inc. (CLFD) has a return on equity (ROE) of -3.0%. Negative ROE indicates the company is unprofitable.

What is Clearfield, Inc.'s free cash flow?

Clearfield, Inc. (CLFD) generated $17.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CLFD back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →