CLFD Technology

Clearfield, Inc.

$32.60+2.45%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Technology
Industry: Communication Equipment
Country: United States
Market cap: 442.8M USD
Enterprise value: 351.9M USD
Full-time employees: 243

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity
Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 2.14 vs a peer median of 0.87)bigger price swings (beta 2.14 vs peers 0.87)

Ranks #1,114 of 1,612 technology companies (bottom 31%)

See how it ranks against its peers

Worth knowing

Earnings slid into a loss. Loss per share this year after a profit last year.
Clearfield made a loss per share in its latest year after a profit the year before.
Profit below an unusually strong FY Sep 2022. Since FY Sep 2022 (an unusually strong year for operating profit): revenue −45%, operating profit −97%.Since FY Sep 2022: revenue −45%, operating profit −97%.
Since FY Sep 2022, Clearfield's revenue changed −45% while operating profit fell 97%: costs rose faster than sales.
Growing fast, still losing money. Revenue grew faster than 89% of peers, at an operating loss.
Revenue grew faster than 89% of peers, but the business runs at an operating loss (margin -0.2%).
More volatile share price. Beta 2.14: tends to move more than the market.
Clearfield's shares have swung more with the market than most peers' (beta 2.14, above the market's 1.0).

StockQuotient Score

41/ 100▼ 1 since Oct 27 close

Oct 5 42 → Nov 4 41 (-1)

Valuation

Is the price right?

24/100

Weak▼ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 25 → 24

Share price +6.4%-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-1.6%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield1.6%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.72Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield1.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.40Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield55.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

27/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.4%

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -1.83Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-21.2%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.80Sector median: 0.0483 · MAD: 0.0793

Revenue growth34.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.50Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

23/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-0.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.92Sector median: 0.0631 · MAD: 0.0710

Return on assets-2.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.56Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-0.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.80Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin33.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-2.9%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.14

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.43Sector median: 0.8710 · MAD: 0.3700

Current ratio12.53×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score 8.42Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.04×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.92Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Clearfield

Is Clearfield getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 41/100, down 1 since Oct 28, 2026.
How is Clearfield valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 1,711 technology peers. Earnings yield -1.6% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -1.6% vs peers 2.2% (weaker than 100% of peers).
Is Clearfield growing?: More slowly than most of its peers. Growth scores 27/100 against 1,711 technology peers. Revenue growth 34.0% vs a peer median of 8.5% (stronger than 89% of peers).Revenue growth 34.0% vs peers 8.5% (stronger than 89% of peers). 3-year revenue growth -21.2% vs a peer median of 4.8% (weaker than 100% of peers).3-year revenue growth -21.2% vs peers 4.8% (weaker than 100% of peers).
How profitable is Clearfield?: Less profitable than most of its peers. Profitability scores 23/100 against 1,711 technology peers. Return on assets -2.7% vs a peer median of 2.9% (weaker than 84% of peers).Return on assets -2.7% vs peers 2.9% (weaker than 84% of peers).
How risky is Clearfield?: Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 12.53× vs a peer median of 1.83× (stronger than 95% of peers).Current ratio 12.53× vs peers 1.83× (stronger than 95% of peers). Beta 2.14 vs a peer median of 0.87 (weaker than 95% of peers).Beta 2.14 vs peers 0.87 (weaker than 95% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	148.5M USD	153.7M USD	+3.4%
Net income (12 months)	−8.6M USD	−7.2M USD	−16.2%
Operating margin	-0.9%	-0.2%	+0.7 pts
Free cash flow (12 months)	7.9M USD	7.3M USD	−7.2%
Cash	9.4M USD	20.4M USD	+117.5%
Shares outstanding	13.6M	13.6M	−0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Technology · 320 companies

Valuations in Technology are above their usual range since 2016.

70% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +5% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +68% vs the whole market, against a usual +58%.

2016Shaded: most expensive fifth of its range2026

Shown for Technology: too few Communication Equipment companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	43.5%	41.7%	35.4%	20.6%	33.7%	▲ 13 pts
Operating margin	17.9%	23.6%	16.6%	-15.3%	1.4%	▲ 17 pts
Net margin	14.4%	18.2%	14.4%	-9.9%	-5.4%	▲ 4.6 pts
Return on assets (ROA)	16.1%	21.5%	9.2%	-3.9%	-2.6%	▲ 1.3 pts
Return on equity (ROE)	19.6%	33.4%	10.3%	-4.5%	-3.1%	▲ 1.4 pts
Free cash flow margin	6.3%	-2.3%	4.8%	10.1%	14.5%	▲ 4.4 pts
Current ratio	3.49×	3.10×	10.21×	9.43×	5.42×	▼ 42%
Quick ratio	2.15×	1.51×	6.83×	7.12×	4.27×	▼ 40%
Debt to equity	0.00×	0.13×	0.01×	0.01×	—	—
Interest coverage	—	205.20×	42.65×	-38.01×	—	—

CLFD price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: lower risk than most peers: more short-term liquidity and less debt relative to equitylower risk: more liquidity and less debt vs equity

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 2.14 vs a peer median of 0.87)bigger price swings (beta 2.14 vs peers 0.87)

Ranks #1,114 of 1,612 technology companies (bottom 31%)

See how it ranks against its peers

Worth knowing

Earnings slid into a loss. Loss per share this year after a profit last year.

Clearfield made a loss per share in its latest year after a profit the year before.

Profit below an unusually strong FY Sep 2022. Since FY Sep 2022 (an unusually strong year for operating profit): revenue −45%, operating profit −97%.Since FY Sep 2022: revenue −45%, operating profit −97%.

Since FY Sep 2022, Clearfield's revenue changed −45% while operating profit fell 97%: costs rose faster than sales.

Growing fast, still losing money. Revenue grew faster than 89% of peers, at an operating loss.

Revenue grew faster than 89% of peers, but the business runs at an operating loss (margin -0.2%).

More volatile share price. Beta 2.14: tends to move more than the market.

Clearfield's shares have swung more with the market than most peers' (beta 2.14, above the market's 1.0).

Questions investors ask about Clearfield

Is Clearfield getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is 41/100, down 1 since Oct 28, 2026.

How is Clearfield valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 24/100 against 1,711 technology peers. Earnings yield -1.6% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -1.6% vs peers 2.2% (weaker than 100% of peers).

Is Clearfield growing?

More slowly than most of its peers. Growth scores 27/100 against 1,711 technology peers. Revenue growth 34.0% vs a peer median of 8.5% (stronger than 89% of peers).Revenue growth 34.0% vs peers 8.5% (stronger than 89% of peers). 3-year revenue growth -21.2% vs a peer median of 4.8% (weaker than 100% of peers).3-year revenue growth -21.2% vs peers 4.8% (weaker than 100% of peers).

How profitable is Clearfield?

Less profitable than most of its peers. Profitability scores 23/100 against 1,711 technology peers. Return on assets -2.7% vs a peer median of 2.9% (weaker than 84% of peers).Return on assets -2.7% vs peers 2.9% (weaker than 84% of peers).

How risky is Clearfield?

Lower risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 12.53× vs a peer median of 1.83× (stronger than 95% of peers).Current ratio 12.53× vs peers 1.83× (stronger than 95% of peers). Beta 2.14 vs a peer median of 0.87 (weaker than 95% of peers).Beta 2.14 vs peers 0.87 (weaker than 95% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

148.5M USD

153.7M USD

+3.4%

Net income (12 months)

−8.6M USD

−7.2M USD

−16.2%

Operating margin

-0.9%

-0.2%

+0.7 pts

Free cash flow (12 months)

7.9M USD

7.3M USD

−7.2%

Cash

9.4M USD

20.4M USD

+117.5%

Shares outstanding

13.6M

13.6M

−0.0%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

43.5%

41.7%

35.4%

20.6%

33.7%

▲ 13 pts

Operating margin

17.9%

23.6%

16.6%

-15.3%

1.4%

▲ 17 pts

Net margin

14.4%

18.2%

14.4%

-9.9%

-5.4%

▲ 4.6 pts

Return on assets (ROA)

16.1%

21.5%

9.2%

-3.9%

-2.6%

▲ 1.3 pts

Return on equity (ROE)

19.6%

33.4%

10.3%

-4.5%

-3.1%

▲ 1.4 pts

Free cash flow margin

6.3%

-2.3%

4.8%

10.1%

14.5%

▲ 4.4 pts

Current ratio

3.49×

3.10×

10.21×

9.43×

5.42×

▼ 42%

Quick ratio

2.15×

1.51×

6.83×

7.12×

4.27×

▼ 40%

Debt to equity

0.00×

0.13×

0.01×

—

Interest coverage

—

205.20×

42.65×

-38.01×

—