MARKETS / NASDAQ / CLFD

NASDAQ · TELEPHONE & TELEGRAPH APPARATUS · MID CAP

Clearfield, Inc. CLFD

16 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$150.1M

▲ 19.6% YoY

Net income

$-8.1M

Free cash flow

$21.8M

▲ 122.9% YoY

In brief

What this company does

Clearfield, Inc. designs, manufactures, and distributes fiber protection, fiber management, and fiber delivery solutions primarily across North America. As of September 30, 2025, it had approximately 243 full-time employees, all based in the United States, excluding employees associated with the discontinued Nestor Cables business. For the fiscal year ended September 30, 2025, two customers, Customer A and Customer B, accounted for approximately 18% and 13% of its net sales, respectively. Its operations currently comprise one reportable segment. Clearfield, Inc. was incorporated under the laws of Minnesota in 1979.

Written from the business description in Clearfield, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 25 November 2025. Every sentence was checked against that document before publication.

Growth

USD 150.1M

Revenue, FY2025 · full 16-year series below

Revenue $M Net income $M

FY2025 · Revenue 150.1 · Net income -8.1

Compound annual growth

Revenue

−17.9%

+10.0%

+9.5%

+12.9%

Returned to shareholders

+190.9%

+38.6%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +10.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−5 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating 1.4% · Net -5.4%

ROE

FY2025 · ROE -3.0%

Gross margin33.7%

Operating margin1.4%

Net margin-5.4%

Return on assets-2.6%

EBITDAUSD 8.2M

Each USD of equity lost 3 cents this year.

Cash & shareholders

USD 16.7M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 21.8

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 16.7

Dividends paid—

Net buybacksUSD 16.7M

Share of profit-206.9%

Consecutive raises—

USD 16.7M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 306.2M

EquityUSD 256.2M

CashUSD 21.5M

Current ratio5.42×

Equity funds 84% of total assets.

The 16-year record

16 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue $B	0.2	0.1	0.2	0.3	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0
Operating income $B	0.0	−0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EBITDA $B	0.0	−0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Income tax $B	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	−0.0	0.0
Net income $B	−0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	−0.58	−0.85	2.17	3.55	1.47	0.53	0.34	0.32	0.28	0.59	0.34	0.40	0.36	0.60	0.48	0.09
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	−3.0	−4.2	14.1	39.3	21.8	9.2	6.4	6.4	6.1	14.1	9.6	12.5	12.7	25.3	27.1	6.1
Shares out B	0.01	0.01	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityTelephone & Telegraph Apparatus

Listed onNASDAQ

Incorporated inMinnesota

Fiscal year endsSeptember 30

Data on record since2010