Homepage

Clearfield, Inc.

CLFD NASDAQ Categories PDF
Technology · Communication Equipment · United States · Updated May 11, 1:50pm
$44.78
Price
$608.5M
Market Cap
400
Employees
1.90
Beta
Cheryl Beranek
CEO
Business 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 offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures. It also provides WaveSmart, which are optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and outdoor cabinet and fiber active cabinet products. The company offers StreetSmart, a portfolio of fiber management products; FieldShield, a fiber pathway and protection method for reducing the cost of broadband deployment; and YOURx platform that consists of hardened terminals, test access points, and various drop cable options for portions of the access network across various fiber drop cable media. It also provides CraftSmart, a line of optical protection field enclosures, including CraftSmart Fiber Protection Pedestals and CraftSmart Fiber Protection Vaults integrated solutions optimized to house FieldSmart products at the last mile access point of the network in above-grade or below-grade installations. The company offers fiber and copper assemblies with an industry-standard or customer-specified configuration; and designs and manufactures custom solutions for in-the-box and network connectivity assemblies specific to that customer's product line. It provides its fiber to anywhere platform for various incumbent local exchange carriers, competitive local exchange carriers, wireless operators, and multiple systems operators and cable TV companies, as well as the utility/municipality, enterprise, and data center markets. The company was formerly known as APA Enterprises, Inc. and changed its name to Clearfield, Inc. in January 2008. Clearfield, Inc. was founded in 1979 and is headquartered in Minneapolis, Minnesota.

Business History
Price Overview
Last updated: May 11, 2026 1:50pm (just now)
$44.78
+4.74 (+11.83%)
Day Range
$40.87 – $45.24
52-Week Range
$23.76 – $46.76
50-Day MA
$29.33
200-Day MA
$32.02
Volume
377,987.00
Analyst Price Targets
Low $41.00
Consensus $43.33
High $45.00
(16 analysts)
Share Structure
Outstanding 13,589,500.00
Float 11,141,147.00
Free Float 82.0%
High free float — 82.0% of shares trade freely, ~18% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-77.20
Stock Price: $44.78
EPS (Diluted): -0.58
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
1.88
Stock Price: $44.78
Total Equity: $256.16M
Shares: 13,989,489
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
55.45
Market Cap: $608.47M
Total Debt: $0.00
Cash: $21.49M
EBITDA: $14.79M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$468.2M
Market Cap: $608.47M
Total Debt: $0.00
Cash: $21.49M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
33.7%
Gross Profit: $50.54M
Revenue: $150.13M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
1.4%
Operating Income: $2.12M
Revenue: $150.13M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-5.4%
Net Income: -$8.05M
Revenue: $150.13M
ROE (Profit from shareholder equity)
API
Net Income / Total Equity
-3.4%
Net Income: -$8.05M
Total Equity: $256.16M
ROIC (Profit from all invested capital)
API
NOPAT / Invested Capital
0.6%
Operating Income: $2.12M
Tax Rate: 27.2%
Equity: $256.16M
Total Debt: $0.00
Cash: $21.49M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
5.42
Current Assets: $198.49M
Current Liabilities: $36.60M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $256.16M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$10.73
Revenue: $150.13M
Shares: 13,989,489
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$18.31
Total Equity: $256.16M
Shares: 13,989,489
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$1.77
Operating CF: $29.45M
CapEx: -$4.74M
Shares: 13,989,489
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $44.78
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$8.05M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares CLFD against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Metric 2021 2022 2023 2024 2025
Revenue $140.8M $270.9M $225.7M $125.6M $150.1M
Cost of Revenue $79.6M $157.9M $145.9M $99.7M $99.6M
Gross Profit $61.2M $112.9M $79.9M $25.8M $50.5M
Operating Expenses $35.9M $49.1M $42.3M $45.1M $48.4M
Operating Income $25.2M $63.8M $37.6M -$19.2M $2.1M
Net Income $20.3M $49.4M $32.5M -$12.5M -$8.1M
EBITDA $28.0M $67.2M $47.4M -$5.8M $14.8M
EPS $1.48 $3.58 $2.17 $-0.85 $-0.58
EPS (Diluted) — — — — —
Balance Sheet (Annual)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $13.2M $16.7M $37.8M $14.1M $21.5M
Total Current Assets $71.5M $160.1M $296.3M $229.6M $198.5M
Total Assets $125.9M $229.1M $355.5M $315.3M $306.2M
Current Liabilities $20.5M $51.7M $29.0M $24.4M $36.6M
Long-Term Debt $0 $18.7M $0 $2.2M $0
Total Liabilities $22.1M $81.5M $40.4M $39.5M $50.0M
Total Equity $103.8M $147.6M $315.2M $275.8M $256.2M
Retained Earnings $45.4M $94.8M $127.3M $115.0M $106.9M
Cash Flow (Annual)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $10.9M $1.0M $20.0M $22.2M $29.5M
Capital Expenditure -$2.0M -$9.1M -$8.4M -$9.6M -$4.7M
Free Cash Flow $8.9M -$8.1M $11.6M $12.7M $24.7M
Acquisitions (net) $11.6M -$16.2M $103.9M $45,000 $0
Debt Repayment — — — — —
Dividends Paid — — — — —
Stock Buybacks $-462,000 -$1.4M $-609,000 -$33.9M -$16.7M
Net Change in Cash -$3.2M $3.4M $21.2M -$21.7M $7.3M
Analyst Estimates (Annual)
Metric 2024 2025 2026 2027
Revenue $161.9M
$161.5M – $162.3M
 $182.1M
$181.5M – $182.7M
 $165.0M
$164.2M – $165.7M
 $200.1M
$199.8M – $200.3M
EBITDA $23.0M
$22.9M – $23.0M
 $25.8M
$25.7M – $25.9M
 $23.4M
$23.3M – $23.5M
 $28.4M
$28.3M – $28.4M
Net Income -$13.6M
-$13.6M – -$13.6M
 $2.2M
$2.2M – $2.2M
 $7.3M
$7.0M – $7.7M
 $17.0M
$16.8M – $17.2M
EPS — — — —
Growth Trends (YoY %)
Metric 2022 2023 2024 2025
Revenue Growth +92.4% -16.7% -44.4% +19.6%
Gross Profit Growth +84.6% -29.3% -67.6% +95.5%
Operating Income Growth +152.9% -41.1% -151.2% +111.0%
Net Income Growth +142.8% -34.1% -138.3% +35.4%
EBITDA Growth +139.8% -29.5% -112.3% +353.3%
Insider Trading (Recent)
Date Insider Type Shares Price Value
2026-05-06 Khemakhem Anis F-InKind 635.00 $30.28 $19,228
2026-02-27 Wirsbinski Carol Ann A-Award 2,544.00 $0.00 $0
2026-02-27 Kelly Catherine T. A-Award 2,544.00 $0.00 $0
2026-02-27 Jones Walter Louis JR A-Award 2,544.00 $0.00 $0
2026-02-27 Sarcevic Ademir A-Award 2,544.00 $0.00 $0
2026-02-27 SKARVAN KATHLEEN A-Award 2,544.00 $0.00 $0
2026-02-27 ROTH RONALD G A-Award 2,544.00 $0.00 $0
2026-02-27 Seidel Rebecca A-Award 2,544.00 $0.00 $0
2026-02-19 Hayward Donald R. S-Sale 3,595.00 $32.00 $115,040
2025-12-31 Khemakhem Anis A-Award 131.00 $24.78 $3,246
2025-12-31 Beranek Cheryl A-Award 210.00 $24.78 $5,204
2025-12-31 Hill John P A-Award 222.00 $24.78 $5,501
2025-12-31 HERZOG DANIEL R A-Award 88.00 $24.78 $2,181
2025-12-10 Khemakhem Anis 0.00 $0.00 $0
2025-12-15 ROTH RONALD G P-Purchase 10,000.00 $30.06 $300,600
2025-12-11 Beranek Cheryl G-Gift 1,960.00 $0.00 $0
2025-12-10 Seidel Rebecca A-Award 326.00 $0.00 $0
2025-12-10 SKARVAN KATHLEEN A-Award 326.00 $0.00 $0
2025-12-10 Seidel Rebecca 0.00 $0.00 $0
2025-12-10 SKARVAN KATHLEEN 0.00 $0.00 $0
Community AI Feedback
Sign in to Contribute
No community reviews yet for CLFD. Be the first — export the analysis to your AI and contribute back.
My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27