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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and FONAR CORP (FONR). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $25.5M, roughly 1.3× FONAR CORP). FONAR CORP runs the higher net margin — 8.0% vs -1.8%, a 9.8% gap on every dollar of revenue. On growth, FONAR CORP posted the faster year-over-year revenue change (2.4% vs -3.2%). FONAR CORP produced more free cash flow last quarter ($-227.0K vs $-2.4M). Over the past eight quarters, FONAR CORP's revenue compounded faster (-0.3% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
CLFD vs FONR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $25.5M |
| Net Profit | $-614.0K | $2.1M |
| Gross Margin | 33.2% | — |
| Operating Margin | -5.3% | 13.5% |
| Net Margin | -1.8% | 8.0% |
| Revenue YoY | -3.2% | 2.4% |
| Net Profit YoY | 67.8% | 4.7% |
| EPS (diluted) | $-0.04 | — |
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 | $25.5M | ||
| Q3 25 | $23.4M | $26.0M | ||
| Q2 25 | $49.9M | $27.3M | ||
| Q1 25 | $47.2M | $27.2M | ||
| Q4 24 | $29.7M | $24.9M | ||
| Q3 24 | $5.6M | $25.0M | ||
| Q2 24 | $48.8M | $25.9M | ||
| Q1 24 | $36.9M | $25.7M |
| Q4 25 | $-614.0K | $2.1M | ||
| Q3 25 | $-9.1M | $2.3M | ||
| Q2 25 | $1.6M | $729.3K | ||
| Q1 25 | $1.3M | $2.5M | ||
| Q4 24 | $-1.9M | $2.0M | ||
| Q3 24 | — | $3.1M | ||
| Q2 24 | $-447.0K | $830.4K | ||
| Q1 24 | $-5.9M | $1.9M |
| Q4 25 | 33.2% | — | ||
| Q3 25 | 53.2% | — | ||
| Q2 25 | 30.5% | — | ||
| Q1 25 | 30.1% | — | ||
| Q4 24 | 29.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 21.9% | — | ||
| Q1 24 | 7.7% | — |
| Q4 25 | -5.3% | 13.5% | ||
| Q3 25 | 10.3% | 14.1% | ||
| Q2 25 | 3.0% | 5.3% | ||
| Q1 25 | 0.6% | 15.2% | ||
| Q4 24 | -6.9% | 11.9% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | -4.7% | 7.4% | ||
| Q1 24 | -26.4% | 16.8% |
| Q4 25 | -1.8% | 8.0% | ||
| Q3 25 | -38.8% | 8.7% | ||
| Q2 25 | 3.2% | 2.7% | ||
| Q1 25 | 2.8% | 9.2% | ||
| Q4 24 | -6.4% | 7.9% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | -0.9% | 3.2% | ||
| Q1 24 | -16.0% | 7.3% |
| Q4 25 | $-0.04 | — | ||
| Q3 25 | $-0.65 | — | ||
| Q2 25 | $0.11 | — | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-0.04 | — | ||
| Q1 24 | $-0.40 | — |
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 | $121.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $249.7M | $176.9M |
| Total Assets | $268.1M | $217.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $121.0K | ||
| Q3 25 | $106.0M | $122.0K | ||
| Q2 25 | $117.2M | $56.5M | ||
| Q1 25 | $112.0M | $123.0K | ||
| Q4 24 | $113.0M | $121.0K | ||
| Q3 24 | $129.0M | $136.0K | ||
| Q2 24 | $123.8M | $56.5M | ||
| Q1 24 | $142.9M | $134.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.2M | — | ||
| Q2 24 | $2.1M | $66.9K | ||
| Q1 24 | — | — |
| Q4 25 | $249.7M | $176.9M | ||
| Q3 25 | $256.2M | $174.9M | ||
| Q2 25 | $264.5M | $172.6M | ||
| Q1 25 | $265.9M | $171.9M | ||
| Q4 24 | $267.4M | $169.8M | ||
| Q3 24 | $275.8M | $168.7M | ||
| Q2 24 | $274.6M | $166.0M | ||
| Q1 24 | $279.2M | $165.8M |
| Q4 25 | $268.1M | $217.2M | ||
| Q3 25 | $306.2M | $218.4M | ||
| Q2 25 | $314.7M | $216.9M | ||
| Q1 25 | $310.9M | $214.9M | ||
| Q4 24 | $303.2M | $208.0M | ||
| Q3 24 | $315.3M | $212.3M | ||
| Q2 24 | $318.1M | $214.2M | ||
| Q1 24 | $315.4M | $209.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | 0.00× | ||
| Q1 24 | — | — |
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 | $171.0K |
| Free Cash FlowOCF − Capex | $-2.4M | $-227.0K |
| FCF MarginFCF / Revenue | -7.1% | -0.9% |
| Capex IntensityCapex / Revenue | 2.9% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 0.08× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $171.0K | ||
| Q3 25 | — | $1.7M | ||
| Q2 25 | $7.9M | $4.2M | ||
| Q1 25 | $3.0M | $3.1M | ||
| Q4 24 | $7.2M | $2.2M | ||
| Q3 24 | $22.2M | $1.7M | ||
| Q2 24 | $4.0M | $4.6M | ||
| Q1 24 | $-5.7M | $2.8M |
| Q4 25 | $-2.4M | $-227.0K | ||
| Q3 25 | — | $-177.0K | ||
| Q2 25 | $7.5M | $3.6M | ||
| Q1 25 | $654.0K | $2.6M | ||
| Q4 24 | $5.1M | $1.5M | ||
| Q3 24 | $18.2M | $-148.0K | ||
| Q2 24 | $2.8M | $4.2M | ||
| Q1 24 | $-7.7M | $2.6M |
| Q4 25 | -7.1% | -0.9% | ||
| Q3 25 | — | -0.7% | ||
| Q2 25 | 15.1% | 13.1% | ||
| Q1 25 | 1.4% | 9.4% | ||
| Q4 24 | 17.1% | 6.0% | ||
| Q3 24 | 323.0% | -0.6% | ||
| Q2 24 | 5.8% | 16.1% | ||
| Q1 24 | -20.8% | 10.2% |
| Q4 25 | 2.9% | 1.6% | ||
| Q3 25 | 2.0% | 7.2% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | 5.1% | 2.2% | ||
| Q4 24 | 7.0% | 3.0% | ||
| Q3 24 | 71.4% | 7.2% | ||
| Q2 24 | 2.5% | 1.6% | ||
| Q1 24 | 5.3% | 0.7% |
| Q4 25 | — | 0.08× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | 4.93× | 5.79× | ||
| Q1 25 | 2.30× | 1.26× | ||
| Q4 24 | — | 1.14× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 5.54× | ||
| Q1 24 | — | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLFD
Segment breakdown not available.
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
