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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
FUELCELL ENERGY INC is the larger business by last-quarter revenue ($55.0M vs $34.3M, roughly 1.6× Clearfield, Inc.). Clearfield, Inc. runs the higher net margin — -1.8% vs -54.3%, a 52.5% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs -3.2%). Clearfield, Inc. produced more free cash flow last quarter ($-2.4M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
FuelCell Energy, Inc. is a publicly traded fuel cell company headquartered in Danbury, Connecticut. It designs, manufactures, operates and services power plants based on molten carbonate fuel cells.
CLFD vs FCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $55.0M |
| Net Profit | $-614.0K | $-29.9M |
| Gross Margin | 33.2% | -12.1% |
| Operating Margin | -5.3% | -51.5% |
| Net Margin | -1.8% | -54.3% |
| Revenue YoY | -3.2% | 11.5% |
| Net Profit YoY | 67.8% | 27.9% |
| EPS (diluted) | $-0.04 | $-0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $34.3M | $55.0M | ||
| Q3 25 | $23.4M | $46.7M | ||
| Q2 25 | $49.9M | $37.4M | ||
| Q1 25 | $47.2M | $19.0M | ||
| Q4 24 | $29.7M | $49.3M | ||
| Q3 24 | $5.6M | $23.7M | ||
| Q2 24 | $48.8M | $22.4M | ||
| Q1 24 | $36.9M | $16.7M |
| Q4 25 | $-614.0K | $-29.9M | ||
| Q3 25 | $-9.1M | $-91.7M | ||
| Q2 25 | $1.6M | $-38.0M | ||
| Q1 25 | $1.3M | $-28.3M | ||
| Q4 24 | $-1.9M | $-41.4M | ||
| Q3 24 | — | $-32.7M | ||
| Q2 24 | $-447.0K | $-32.1M | ||
| Q1 24 | $-5.9M | $-19.8M |
| Q4 25 | 33.2% | -12.1% | ||
| Q3 25 | 53.2% | -11.0% | ||
| Q2 25 | 30.5% | -25.2% | ||
| Q1 25 | 30.1% | -27.4% | ||
| Q4 24 | 29.2% | -22.1% | ||
| Q3 24 | — | -26.2% | ||
| Q2 24 | 21.9% | -31.6% | ||
| Q1 24 | 7.7% | -70.2% |
| Q4 25 | -5.3% | -51.5% | ||
| Q3 25 | 10.3% | -204.0% | ||
| Q2 25 | 3.0% | -95.7% | ||
| Q1 25 | 0.6% | -172.9% | ||
| Q4 24 | -6.9% | -83.2% | ||
| Q3 24 | — | -141.9% | ||
| Q2 24 | -4.7% | -184.5% | ||
| Q1 24 | -26.4% | -254.5% |
| Q4 25 | -1.8% | -54.3% | ||
| Q3 25 | -38.8% | -196.1% | ||
| Q2 25 | 3.2% | -101.7% | ||
| Q1 25 | 2.8% | -149.1% | ||
| Q4 24 | -6.4% | -84.0% | ||
| Q3 24 | — | -137.8% | ||
| Q2 24 | -0.9% | -143.4% | ||
| Q1 24 | -16.0% | -118.6% |
| Q4 25 | $-0.04 | $-0.43 | ||
| Q3 25 | $-0.65 | $-3.78 | ||
| Q2 25 | $0.11 | $-1.79 | ||
| Q1 25 | $0.09 | $-1.42 | ||
| Q4 24 | $-0.13 | $-2.29 | ||
| Q3 24 | — | $-1.99 | ||
| Q2 24 | $-0.04 | $-2.18 | ||
| Q1 24 | $-0.40 | $-1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $96.4M | $278.1M |
| Total DebtLower is stronger | — | $103.8M |
| Stockholders' EquityBook value | $249.7M | $662.2M |
| Total Assets | $268.1M | $932.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $278.1M | ||
| Q3 25 | $106.0M | $174.7M | ||
| Q2 25 | $117.2M | $177.0M | ||
| Q1 25 | $112.0M | $208.4M | ||
| Q4 24 | $113.0M | $257.3M | ||
| Q3 24 | $129.0M | $267.2M | ||
| Q2 24 | $123.8M | $260.1M | ||
| Q1 24 | $142.9M | $297.5M |
| Q4 25 | — | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | — | $115.7M | ||
| Q3 24 | $2.2M | $112.7M | ||
| Q2 24 | $2.1M | $116.2M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | $249.7M | $662.2M | ||
| Q3 25 | $256.2M | $556.2M | ||
| Q2 25 | $264.5M | $609.2M | ||
| Q1 25 | $265.9M | $635.2M | ||
| Q4 24 | $267.4M | $656.9M | ||
| Q3 24 | $275.8M | $675.8M | ||
| Q2 24 | $274.6M | $639.8M | ||
| Q1 24 | $279.2M | $663.9M |
| Q4 25 | $268.1M | $932.1M | ||
| Q3 25 | $306.2M | $830.5M | ||
| Q2 25 | $314.7M | $883.8M | ||
| Q1 25 | $310.9M | $907.5M | ||
| Q4 24 | $303.2M | $944.1M | ||
| Q3 24 | $315.3M | $948.9M | ||
| Q2 24 | $318.1M | $916.8M | ||
| Q1 24 | $315.4M | $923.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | 0.01× | 0.17× | ||
| Q2 24 | 0.01× | 0.18× | ||
| Q1 24 | — | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.4M | $-22.9M |
| Free Cash FlowOCF − Capex | $-2.4M | $-23.9M |
| FCF MarginFCF / Revenue | -7.1% | -43.4% |
| Capex IntensityCapex / Revenue | 2.9% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $-22.9M | ||
| Q3 25 | — | $-26.8M | ||
| Q2 25 | $7.9M | $-29.9M | ||
| Q1 25 | $3.0M | $-45.7M | ||
| Q4 24 | $7.2M | $5.8M | ||
| Q3 24 | $22.2M | $-63.4M | ||
| Q2 24 | $4.0M | $-37.1M | ||
| Q1 24 | $-5.7M | $-58.3M |
| Q4 25 | $-2.4M | $-23.9M | ||
| Q3 25 | — | $-32.1M | ||
| Q2 25 | $7.5M | $-35.2M | ||
| Q1 25 | $654.0K | $-52.8M | ||
| Q4 24 | $5.1M | $-4.7M | ||
| Q3 24 | $18.2M | $-76.8M | ||
| Q2 24 | $2.8M | $-50.3M | ||
| Q1 24 | $-7.7M | $-68.8M |
| Q4 25 | -7.1% | -43.4% | ||
| Q3 25 | — | -68.6% | ||
| Q2 25 | 15.1% | -94.0% | ||
| Q1 25 | 1.4% | -277.8% | ||
| Q4 24 | 17.1% | -9.5% | ||
| Q3 24 | 323.0% | -324.0% | ||
| Q2 24 | 5.8% | -224.5% | ||
| Q1 24 | -20.8% | -412.4% |
| Q4 25 | 2.9% | 1.8% | ||
| Q3 25 | 2.0% | 11.2% | ||
| Q2 25 | 0.8% | 14.1% | ||
| Q1 25 | 5.1% | 37.2% | ||
| Q4 24 | 7.0% | 21.4% | ||
| Q3 24 | 71.4% | 56.6% | ||
| Q2 24 | 2.5% | 58.9% | ||
| Q1 24 | 5.3% | 63.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.93× | — | ||
| Q1 25 | 2.30× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLFD
Segment breakdown not available.
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
