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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and NELNET INC (NNI). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $33.5M, roughly 1.0× NELNET INC). NELNET INC runs the higher net margin — 172.3% vs -1.8%, a 174.0% gap on every dollar of revenue. On growth, NELNET INC posted the faster year-over-year revenue change (79.6% vs -3.2%). NELNET INC produced more free cash flow last quarter ($396.7M vs $-2.4M). Over the past eight quarters, NELNET INC's revenue compounded faster (62.0% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
Nelnet, Inc. is a United States–based conglomerate that primarily focuses on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and has a 26% stake in Allo Fiber, a cable and internet provider. The company is headquartered in Lincoln, Nebraska.
CLFD vs NNI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $33.5M |
| Net Profit | $-614.0K | $57.8M |
| Gross Margin | 33.2% | 50.5% |
| Operating Margin | -5.3% | — |
| Net Margin | -1.8% | 172.3% |
| Revenue YoY | -3.2% | 79.6% |
| Net Profit YoY | 67.8% | -8.5% |
| EPS (diluted) | $-0.04 | $1.62 |
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 | $33.5M | ||
| Q3 25 | $23.4M | $23.2M | ||
| Q2 25 | $49.9M | $26.1M | ||
| Q1 25 | $47.2M | $24.7M | ||
| Q4 24 | $29.7M | $18.7M | ||
| Q3 24 | $5.6M | $16.6M | ||
| Q2 24 | $48.8M | $14.9M | ||
| Q1 24 | $36.9M | $12.8M |
| Q4 25 | $-614.0K | $57.8M | ||
| Q3 25 | $-9.1M | $106.7M | ||
| Q2 25 | $1.6M | $181.5M | ||
| Q1 25 | $1.3M | $82.6M | ||
| Q4 24 | $-1.9M | $63.2M | ||
| Q3 24 | — | $2.4M | ||
| Q2 24 | $-447.0K | $45.1M | ||
| Q1 24 | $-5.9M | $73.4M |
| Q4 25 | 33.2% | 50.5% | ||
| Q3 25 | 53.2% | 29.6% | ||
| Q2 25 | 30.5% | 29.8% | ||
| Q1 25 | 30.1% | 30.5% | ||
| Q4 24 | 29.2% | 13.7% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | 21.9% | 27.3% | ||
| Q1 24 | 7.7% | 15.3% |
| Q4 25 | -5.3% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | -6.9% | 97.7% | ||
| Q3 24 | — | -13.4% | ||
| Q2 24 | -4.7% | 88.0% | ||
| Q1 24 | -26.4% | — |
| Q4 25 | -1.8% | 172.3% | ||
| Q3 25 | -38.8% | 460.5% | ||
| Q2 25 | 3.2% | 694.9% | ||
| Q1 25 | 2.8% | 334.4% | ||
| Q4 24 | -6.4% | 338.2% | ||
| Q3 24 | — | 14.4% | ||
| Q2 24 | -0.9% | 303.6% | ||
| Q1 24 | -16.0% | 574.4% |
| Q4 25 | $-0.04 | $1.62 | ||
| Q3 25 | $-0.65 | $2.94 | ||
| Q2 25 | $0.11 | $4.97 | ||
| Q1 25 | $0.09 | $2.26 | ||
| Q4 24 | $-0.13 | $1.74 | ||
| Q3 24 | — | $0.07 | ||
| Q2 24 | $-0.04 | $1.23 | ||
| Q1 24 | $-0.40 | $1.98 |
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 | $296.0M |
| Total DebtLower is stronger | — | $7.8B |
| Stockholders' EquityBook value | $249.7M | $3.7B |
| Total Assets | $268.1M | $14.1B |
| Debt / EquityLower = less leverage | — | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $296.0M | ||
| Q3 25 | $106.0M | $216.4M | ||
| Q2 25 | $117.2M | $225.8M | ||
| Q1 25 | $112.0M | $220.5M | ||
| Q4 24 | $113.0M | $194.5M | ||
| Q3 24 | $129.0M | $219.7M | ||
| Q2 24 | $123.8M | $145.5M | ||
| Q1 24 | $142.9M | $179.7M |
| Q4 25 | — | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $2.2M | $8.9B | ||
| Q2 24 | $2.1M | $9.6B | ||
| Q1 24 | — | $10.6B |
| Q4 25 | $249.7M | $3.7B | ||
| Q3 25 | $256.2M | $3.7B | ||
| Q2 25 | $264.5M | $3.6B | ||
| Q1 25 | $265.9M | $3.4B | ||
| Q4 24 | $267.4M | $3.3B | ||
| Q3 24 | $275.8M | $3.3B | ||
| Q2 24 | $274.6M | $3.3B | ||
| Q1 24 | $279.2M | $3.3B |
| Q4 25 | $268.1M | $14.1B | ||
| Q3 25 | $306.2M | $13.9B | ||
| Q2 25 | $314.7M | $13.7B | ||
| Q1 25 | $310.9M | $14.2B | ||
| Q4 24 | $303.2M | $13.8B | ||
| Q3 24 | $315.3M | $14.1B | ||
| Q2 24 | $318.1M | $14.5B | ||
| Q1 24 | $315.4M | $15.4B |
| Q4 25 | — | 2.11× | ||
| Q3 25 | — | 2.14× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 2.53× | ||
| Q4 24 | — | 2.48× | ||
| Q3 24 | 0.01× | 2.72× | ||
| Q2 24 | 0.01× | 2.90× | ||
| Q1 24 | — | 3.20× |
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 | $423.0M |
| Free Cash FlowOCF − Capex | $-2.4M | $396.7M |
| FCF MarginFCF / Revenue | -7.1% | 1183.0% |
| Capex IntensityCapex / Revenue | 2.9% | 78.2% |
| Cash ConversionOCF / Net Profit | — | 7.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $663.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $423.0M | ||
| Q3 25 | — | $112.4M | ||
| Q2 25 | $7.9M | $81.8M | ||
| Q1 25 | $3.0M | $91.2M | ||
| Q4 24 | $7.2M | $662.9M | ||
| Q3 24 | $22.2M | $137.0M | ||
| Q2 24 | $4.0M | $133.8M | ||
| Q1 24 | $-5.7M | $211.6M |
| Q4 25 | $-2.4M | $396.7M | ||
| Q3 25 | — | $100.8M | ||
| Q2 25 | $7.5M | $78.1M | ||
| Q1 25 | $654.0K | $87.8M | ||
| Q4 24 | $5.1M | $642.0M | ||
| Q3 24 | $18.2M | $132.6M | ||
| Q2 24 | $2.8M | $123.1M | ||
| Q1 24 | $-7.7M | $188.3M |
| Q4 25 | -7.1% | 1183.0% | ||
| Q3 25 | — | 435.0% | ||
| Q2 25 | 15.1% | 299.0% | ||
| Q1 25 | 1.4% | 355.6% | ||
| Q4 24 | 17.1% | 3438.0% | ||
| Q3 24 | 323.0% | 797.9% | ||
| Q2 24 | 5.8% | 829.2% | ||
| Q1 24 | -20.8% | 1473.7% |
| Q4 25 | 2.9% | 78.2% | ||
| Q3 25 | 2.0% | 50.4% | ||
| Q2 25 | 0.8% | 14.2% | ||
| Q1 25 | 5.1% | 13.7% | ||
| Q4 24 | 7.0% | 111.9% | ||
| Q3 24 | 71.4% | 26.7% | ||
| Q2 24 | 2.5% | 71.5% | ||
| Q1 24 | 5.3% | 181.7% |
| Q4 25 | — | 7.32× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | 4.93× | 0.45× | ||
| Q1 25 | 2.30× | 1.10× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 57.39× | ||
| Q2 24 | — | 2.97× | ||
| Q1 24 | — | 2.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
