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Clearfield cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$8.9M in Q3 FY26 · $7.3M over twelve months

Operating cash flow$9.9M
Capital spending−$910K
Free cash flow+$8.9M
Cash / net income3.3×
Cash conversion cycle138 days

Analysis

In Q3 FY26, Clearfield generated $9.9M of operating cash flow and spent $910K on capital projects, leaving free cash flow of $8.9M. That is $1.5M more than in Q3 FY25 ($7.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was $11.5M; the largest uses were buybacks ($13.5M), other investing ($11.1M), capital spending ($4.1M); besides operations, cash came from shares issued ($513K); the cash balance fell by $12.5M.

Operating cash flow was $9.9M against net income of $3.0M — 3.3× profit, cash ran ahead of reported earnings. The largest differences: inventory +$3.5M, depreciation & amortization +$1.6M, receivables −$1.2M.

Its cash conversion cycle was 138 days (receivables 45 + inventory 107 − payables 13).

Free cash flow

Clearfield: free cash flow by quarterClearfield: free cash flow by quarter$9.1MQ4 FY24$5.1MQ1 FY25$654KQ2 FY25$7.5MQ3 FY25$2.9MQ4 FY25−$2.4MQ1 FY26−$2.1MQ2 FY26$8.9MQ3 FY26
Operating cash flow less capital spending.
Clearfield: operating cash flow against capital spendingClearfield: operating cash flow against capital spendingOperating cash flowCapital spending$13.1M$4.0MQ4 FY24$7.2M$2.1MQ1 FY25$3.0M$2.4MQ2 FY25$7.9M$455KQ3 FY25$4.1M$1.2MQ4 FY25−$1.4M$988KQ1 FY26−$1.1M$1.0MQ2 FY26$9.9M$910KQ3 FY26
Latest (Q3 FY26): Operating cash flow $9.9M, Capital spending $910K.

Capital allocation, year by year

Clearfield: where the cash came from (up) and went (down), by fiscal yearClearfield: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $10.9MFY21: Capital spending −$2.0M$10.9MFY21FY22: Operating cash flow $2.3MFY22: Net borrowing $16.7MFY22: Capital spending −$9.1MFY22: Acquisitions −$16.2M$19.0MFY22FY23: Operating cash flow $18.4MFY23: Net borrowing −$16.7MFY23: Shares issued $131MFY23: Capital spending −$7.7M$150MFY23FY24: Operating cash flow $22.2MFY24: Shares issued $1KFY24: Asset sales $45KFY24: Capital spending −$9.6MFY24: Buybacks −$33.4M$22.3MFY24FY25: Operating cash flow $26.6MFY25: Asset sales $903KFY25: Capital spending −$4.7MFY25: Buybacks −$16.7M$27.5MFY25
Over these 5 years operating cash flow totalled $80.4M; the largest uses were buybacks ($50.0M) and capital spending ($33.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$101M
Debt$2.4M
Net cash$98.9M
Due within a year$2.4M

Clearfield funds itself: free cash flow was $7.3M over the last twelve months, and $101M of cash and investments stands against $2.4M of debt ($2.4M due within a year, 42.9× covered by cash).

Where the cash came from and went

Clearfield: sources (+) and uses (−) of cash, Q3 FY26Clearfield: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)−$11.0MOperating cash flow$9.9MOther investing$2.8MCapital spending−$910KBuybacks−$897KShares issued$274KOther financing−$79KTaxes on employees’ shares−$18K
Clearfield: sources (+) and uses (−) of cash, TTM to Q3 FY26Clearfield: sources (+) and uses (−) of cash, 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 profit to cash

Clearfield: net income to operating cash flow, Q3 FY26Clearfield: net income to operating cash flow, Q3 FY26Net income$3.0MDepreciation & amortization$1.6MStock-based pay$1.0MDeferred taxes$934KReceivables−$1.2MInventory$3.5MPayables$1.1MPrepaid and other assets−$34KOperating cash flow$9.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY264510713138
Q2 FY264714915182
Q1 FY264416522187
Q4 FY255016427187
Q3 FY256019932227
Q2 FY254219522215
Q1 FY254325216280

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$9.9M−$910K−$897K—$274K−$11.0M$8.9M
Q2 FY26−$1.1M−$1.0M−$7.3M——$4.5M−$2.1M
Q1 FY26−$1.4M−$988K−$5.3M—$239K$7.7M−$2.4M
Q4 FY25$4.1M−$1.2M$12K——$11.4M$2.9M
Q3 FY25$7.9M−$455K−$5.7M—$294K−$5.0M$7.5M
Q2 FY25$3.0M−$2.4M−$4.7M——$1.6M$654K
Q1 FY25$7.2M−$2.1M−$6.3M—$301K−$14.3M$5.1M
Q4 FY24$13.1M−$4.0M—$2.1M$1K$9.5M$9.1M

Clearfield: income statement and cash flow

Clearfield, Q3 FY26: revenue $43.9M (+13% year over year), operating margin 5.9%. The chart follows the revenue to costs, profit and cash.

Clearfield: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.