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Clearfield (CLFD) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Clearfield (CLFD) Q3 FY26 earnings results →

Q3 FY26 Revenue up 13% year over year to $43.9M · 7¢ of every $1 of revenue kept as net profit · operating margin 5.9%

Clearfield made $43.9M in Q3 FY26 (+13% Y/Y). Operating margin 5.9%, net earnings $3.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$43.9M
Year over year+13%
Operating margin5.9%
Net earnings$3.0M
Operating cash flow$9.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $43.9M in Q3 FY26, up 13% year over year and up 28% from the previous quarter.

Gross margin was 31.8%, down 3.5 points from Q3 FY25. Operating profit was $2.6M, a 5.9% margin (up 1.9 points year over year). Of the extra revenue versus Q3 FY25, 20% reached operating profit, above the 4% margin then. Operating expenses fell 6% while revenue rose 13%. Net earnings were $3.0M, up 87% year over year. The effective tax rate was 23.7%. Non-operating items added $1.4M, 35% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $9.9M (up 24% year over year), 329% of net earnings. Non-cash charges added back $1.6M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $4.3M. Capital expenditures of $910K left free cash flow of $8.9M.

Quarterly history

Clearfield revenue by quarterClearfield revenue by quarter$46.8MQ4 FY24$47.2MQ2 FY25$49.9MQ3 FY25$17.6MQ4 FY25$34.3MQ1 FY26$34.4MQ2 FY26$43.9MQ3 FY26
Clearfield net earnings by quarterClearfield net earnings by quarter−$827KQ4 FY24$1.3MQ2 FY25$1.6MQ3 FY25−$9.1MQ4 FY25−$614KQ1 FY26−$528KQ2 FY26$3.0MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$43.9M+13%5.9%$3.0M$9.9M
Q2 FY2610-QMay 7, 2026$34.4M-15%-6.0%−$528K−$1.1M
Q1 FY2610-QFeb 9, 2026$34.3M+16%-5.3%−$614K−$1.4M
Q4 FY2510-KNov 25, 2025$17.6M+212%24.6%−$9.1M$4.1M
Q3 FY2510-QAug 7, 2025$49.9M+2%3.1%$1.6M$7.9M
Q2 FY2510-QMay 9, 2025$47.2M+28%0.6%$1.3M$3.0M
Q4 FY2410-KNov 15, 2024$46.8M-6%-6.4%−$827K$13.8M

Charts

Clearfield: revenue growth, year over year and quarter over quarterClearfield: revenue growth, year over year and quarter over quarterY/YQ/Q-6%Q4 FY24+28%+1%Q2 FY25+2%+6%Q3 FY25+212%-65%Q4 FY25+16%+95%Q1 FY26-15%+0%Q2 FY26+13%+28%Q3 FY26
Latest (Q3 FY26): Y/Y +13%, Q/Q +28%.
Clearfield: where the cash came from (+) and went (−), TTM to Q3 FY26Clearfield: where the cash came from (+) and went (−), TTM to Q3 FY26Buybacks−$13.5MCash drawn (+) / kept (−)$12.5MOperating cash flow$11.5MOther investing−$11.1MNot reconciled$5.9MCapital spending−$4.1MTaxes on employees’ shares−$1.0MOther financing−$698KShares issued$513K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Clearfield: profit against cash, quarter by quarterClearfield: profit against cash, quarter by quarterNet incomeOperating cash flow−$827K$13.1MQ4 FY24−$1.9M$7.2MQ1 FY25$1.3M$3.0MQ2 FY25$1.6M$7.9MQ3 FY25−$9.1M$4.1MQ4 FY25−$614K−$1.4MQ1 FY26−$528K−$1.1MQ2 FY26$3.0M$9.9MQ3 FY26
Latest (Q3 FY26): Net income $3.0M, Operating cash flow $9.9M.
Clearfield: diluted shares by fiscal yearClearfield: diluted shares by fiscal year14MFY2014MFY2114MFY2215MFY2315MFY2414MFY25
+2.5% since FY20: more shares outstanding (issuance, stock pay).
Clearfield in its industry: growth against margin (6 companies, SIC 3661)Clearfield in its industry: growth against margin (6 companies, SIC 3661)revenue growth, year over year →↑ operating marginmedian +37%median 10%CIENFNADTNFKWLFIEECLFD (+13%, 6%)
Telephone & Telegraph Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Clearfield

We design, manufacture, and distribute fiber protection, fiber management, and fiber delivery solutions to enable rapid and cost-effective fiber-fed deployment throughout the broadband service provider space primarily across North America. Our “fiber to anywhere” platform serves the unique requirements of Community Broadband customers (Tier 2 and 3 telco carriers, utilities, municipalities, and alternative carriers), Multiple System Operators (cable television), Large Regional Service Providers (ILEC operating a multi-state network with more than 500,000 subscribers), National Carriers (wireline/wireless national telco carriers (Tier 1)), and International customers (primarily Europe, Canada, Mexico, and Caribbean Markets).

In its own words, from its 10-K, filed Nov 25, 2025.

Clearfield against its Telephone & Telegraph Apparatus peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +13% against the peers' median +37%. Operating margin: 5.9% against the peers' median 9.9%.

CompanyQuarterRevenueY/YOp. margin
CLFD ClearfieldQ3 FY26$43.9M+13%5.9%
CIEN CienaQ3 FY26$1.7B+37%18.0%
FN FabrinetQ1 FY27$1.5B+51%9.9%
ADTN Adtran HoldingsQ3 2026$281M+0.6%-0.3%
FKWL Franklin WirelessQ4 FY26$8.4M+21%-21.5%
FIEE FiEEQ2 2026$4.8M107×54.8%

Source: Clearfield 10-Q on SEC EDGAR · CIK 796505 · Telephone & Telegraph Apparatus

13F: who owns CLFD and who is buying

Largest holders of CLFD (13F)Largest holders of CLFD (13F)BlackRock$38.1MAigh Capital Management LLC$37.9MACK Asset Management LLC$32.2MVanguard Group$27.6MVanguard Capital Management LLC$19.2MMairs & Power$15.3MVanguard Portfolio Management LLC$14.8MState Street$14.5MDimensional Fund Advisors LP$14.2MGeode Capital Management, LLC$12.0M
Funds' net buying of CLFD by quarter (13F)Funds' net buying of CLFD by quarter (13F)$6.1M2024-09−$1.5M2024-12−$301K2025-03$9.1M2025-06−$8.6M2025-09−$7.0M2025-12$4.0M2026-03$23.2M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CLFD

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Clearfield（CLFD）财报

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