Clearfield
Market Cap
US$166.1m
Last Updated
2020/02/18 00:20 UTC
Data Sources
Company Financials +
Executive Summary
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.
Snowflake Analysis
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has Clearfield's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CLFD has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.2%
CLFD
-3.0%
US Communications
0.9%
US Market
1 Year Return
-11.6%
CLFD
-5.9%
US Communications
20.0%
US Market
Return vs Industry: CLFD underperformed the US Communications industry which returned -5.8% over the past year.
Return vs Market: CLFD underperformed the US Market which returned 20.1% over the past year.
Shareholder returns
| CLFD | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.2% | -3.0% | 0.9% |
| 30 Day | -14.0% | -3.7% | 1.4% |
| 90 Day | -1.7% | 3.2% | 8.8% |
| 1 Year | -11.6%-11.6% | -4.0%-5.9% | 22.5%20.0% |
| 3 Year | -26.1%-26.1% | 32.8%24.7% | 49.9%40.3% |
| 5 Year | -13.1%-13.1% | 59.7%42.0% | 73.2%54.1% |
Price Volatility Vs. Market
How volatile is Clearfield's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 days ago | Simply Wall St
Trade Alert: The Independent Chairman of the Board Of Clearfield, Inc. (NASDAQ:CLFD), Ronald Roth, Has Just Spent US$58k Buying Shares2 weeks ago | Simply Wall St
Is There Now An Opportunity In Clearfield, Inc. (NASDAQ:CLFD)?3 weeks ago | Simply Wall St
Why Clearfield, Inc.'s (NASDAQ:CLFD) High P/E Ratio Isn't Necessarily A Bad ThingValuation
Is Clearfield undervalued compared to its fair value and its price relative to the market?
40.37x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: CLFD ($12.16) is trading above our estimate of fair value ($5.54)
Significantly Below Fair Value: CLFD is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: CLFD is poor value based on its PE Ratio (40.4x) compared to the Communications industry average (25.6x).
PE vs Market: CLFD is poor value based on its PE Ratio (40.4x) compared to the US market (18.4x).
Price to Earnings Growth Ratio
PEG Ratio: CLFD is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: CLFD is overvalued based on its PB Ratio (2.2x) compared to the US Communications industry average (1.9x).
Next Steps
Future Growth
How is Clearfield forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
30.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CLFD's forecast earnings growth (30.6% per year) is above the savings rate (1.7%).
Earnings vs Market: CLFD's earnings (30.6% per year) are forecast to grow faster than the US market (14.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: CLFD's revenue (11.7% per year) is forecast to grow faster than the US market (7.6% per year).
High Growth Revenue: CLFD's revenue (11.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CLFD's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Clearfield performed over the past 5 years?
-4.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CLFD has high quality earnings.
Growing Profit Margin: CLFD's current net profit margins (4.8%) are lower than last year (5.4%).
Past Earnings Growth Analysis
Earnings Trend: CLFD's earnings have declined by -4.7% per year over the past 5 years.
Accelerating Growth: CLFD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CLFD had negative earnings growth (-6.5%) over the past year, making it difficult to compare to the Communications industry average (-20.3%).
Return on Equity
High ROE: CLFD's Return on Equity (5.3%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Clearfield's financial position?
Financial Position Analysis
Short Term Liabilities: CLFD's short term assets ($43.6M) exceed its short term liabilities ($5.3M).
Long Term Liabilities: CLFD's short term assets ($43.6M) exceed its long term liabilities ($2.0M).
Debt to Equity History and Analysis
Debt Level: CLFD is debt free.
Reducing Debt: CLFD has not had any debt for past 5 years.
Debt Coverage: CLFD has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: CLFD has no debt, therefore coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: CLFD has a high level of physical assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if CLFD's debt is covered by short term assets.
Next Steps
Dividend
What is Clearfield's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate CLFD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate CLFD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if CLFD's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if CLFD's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of CLFD's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.5yrs
Average management tenure
CEO
Cheri Beranek (57yo)
12.7yrs
Tenure
US$537,009
Compensation
Ms. Cheryl P. Beranek, also known as Cheri has been the Chief Executive Officer and President at Clearfield, Inc. (formerly, APA Enterprises Inc) since June 28, 2007. Ms. Beranek has been a Director of Cle ...
CEO Compensation Analysis
Compensation vs Market: Cheri's total compensation ($USD537.01K) is below average for companies of similar size in the US market ($USD1.11M).
Compensation vs Earnings: Cheri's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 12.7yrs | US$537.01k | 4.1% $6.8m | |
| Chief Financial Officer | 8.5yrs | US$321.26k | 0.30% $500.4k | |
| Chief Operating Officer | 11.3yrs | US$539.25k | 1.59% $2.6m | |
| Chief Marketing Officer | 3.5yrs | no data | no data | |
| Chief Revenue Officer | 1.8yrs | no data | no data |
8.5yrs
Average Tenure
55yo
Average Age
Experienced Management: CLFD's management team is seasoned and experienced (8.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO, President & Director | 12.7yrs | US$537.01k | 4.1% $6.8m | |
| Independent Chairman of the Board | 12.7yrs | US$25.00k | 10.42% $17.3m | |
| Independent Director | 11.4yrs | US$28.12k | 1.29% $2.1m | |
| Independent Director | 4.4yrs | US$25.00k | 0.84% $1.4m | |
| Independent Director | 12.5yrs | US$25.00k | 0.097% $160.4k | |
| Independent Director | 3.6yrs | US$25.00k | 0.17% $280.0k |
12.0yrs
Average Tenure
62.5yo
Average Age
Experienced Board: CLFD's board of directors are seasoned and experienced ( 12 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CLFD insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Clearfield, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Clearfield, Inc.
- Ticker: CLFD
- Exchange: NasdaqGM
- Founded: 1979
- Industry: Communications Equipment
- Sector: Tech
- Market Cap: US$166.075m
- Shares outstanding: 13.66m
- Website: https://www.seeclearfield.com
Number of Employees
Location
- Clearfield, Inc.
- 7050 Winnetka Avenue North
- Suite 100
- Minneapolis
- Minnesota
- 55428
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CLFD | NasdaqGM (Nasdaq Global Market) | Yes | Common Stock | US | USD | Aug 1986 |
| AP7 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 1986 |
Biography
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 ODC outdoor active cabinet products. In addition, the company offers 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. Further, it 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. Additionally, 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, and MSO/cable TV companies, as well as the utility/municipality, enterprise, data center, and military 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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/18 00:20 |
| End of Day Share Price | 2020/02/14 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/09/30 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.