CLFDClearfield, Inc.
Is the business good?
Margins compressing. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CLFD?
Clearfield, Inc. keeps −0.24% of every revenue dollar as operating profit, against 5.2% for the median Communication Equipment name.
Operating margin · Communication Equipment median 5.2% · 12 months to Q3 2026
- Share count, year on year
- −1.8%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 33%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 9.0% |
| FY2021 | 18% |
| FY2022 | 24% |
| FY2023 | 17% |
| FY2024 | −15% |
| FY2025 | 1.4% |
Details›
- Gross margin12 months to Q3 2026
- 33%
- Operating margin12 months to Q3 2026
- −0.24%
- Net margin12 months to Q3 2026
- −4.7%
- Free cash flow margin
- 8.5%
- Revenue, trailing twelve months
- $154M
- Free cash flow, trailing twelve months
- $13M
- Net income, trailing twelve months
- −$7.2M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from CLFD and who it buys from, as the companies report it.
- Customer A18%
Share of revenue · FY2025 10-K
- Customer B13%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; CLFD’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Communication Equipment
Ranks #9 of 18 by RyuScore