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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and NATURAL RESOURCE PARTNERS LP (NRP). Click either name above to swap in a different company.
NATURAL RESOURCE PARTNERS LP is the larger business by last-quarter revenue ($51.3M vs $34.3M, roughly 1.5× Clearfield, Inc.). NATURAL RESOURCE PARTNERS LP runs the higher net margin — 78.5% vs -1.8%, a 80.3% gap on every dollar of revenue. On growth, Clearfield, Inc. posted the faster year-over-year revenue change (-3.2% vs -21.8%). Over the past eight quarters, Clearfield, Inc.'s revenue compounded faster (-3.5% CAGR vs -8.3%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
Natural Resource Partners LP is a U.S.-headquartered master limited partnership that owns, manages and leases mineral reserve interests. Its asset portfolio covers coal, aggregates, industrial minerals and oil & gas, with operations primarily across North America, deriving most revenue from royalties paid by third-party resource extraction operators.
CLFD vs NRP — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $51.3M |
| Net Profit | $-614.0K | $40.3M |
| Gross Margin | 33.2% | — |
| Operating Margin | -5.3% | 83.7% |
| Net Margin | -1.8% | 78.5% |
| Revenue YoY | -3.2% | -21.8% |
| Net Profit YoY | 67.8% | -28.4% |
| 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 | — | ||
| Q3 25 | $23.4M | — | ||
| Q2 25 | $49.9M | — | ||
| Q1 25 | $47.2M | $51.3M | ||
| Q4 24 | $29.7M | $61.8M | ||
| Q3 24 | $5.6M | $50.4M | ||
| Q2 24 | $48.8M | $54.6M | ||
| Q1 24 | $36.9M | $65.6M |
| Q4 25 | $-614.0K | — | ||
| Q3 25 | $-9.1M | — | ||
| Q2 25 | $1.6M | — | ||
| Q1 25 | $1.3M | $40.3M | ||
| Q4 24 | $-1.9M | $42.8M | ||
| Q3 24 | — | $38.6M | ||
| Q2 24 | $-447.0K | $46.1M | ||
| Q1 24 | $-5.9M | $56.2M |
| 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% | — | ||
| Q3 25 | 10.3% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | 0.6% | 83.7% | ||
| Q4 24 | -6.9% | 74.9% | ||
| Q3 24 | — | 84.9% | ||
| Q2 24 | -4.7% | 92.3% | ||
| Q1 24 | -26.4% | 91.0% |
| Q4 25 | -1.8% | — | ||
| Q3 25 | -38.8% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 2.8% | 78.5% | ||
| Q4 24 | -6.4% | 69.2% | ||
| Q3 24 | — | 76.6% | ||
| Q2 24 | -0.9% | 84.4% | ||
| Q1 24 | -16.0% | 85.7% |
| 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 | $30.9M |
| Total DebtLower is stronger | — | $138.8M |
| Stockholders' EquityBook value | $249.7M | — |
| Total Assets | $268.1M | $772.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | — | ||
| Q3 25 | $106.0M | — | ||
| Q2 25 | $117.2M | — | ||
| Q1 25 | $112.0M | $30.9M | ||
| Q4 24 | $113.0M | $30.4M | ||
| Q3 24 | $129.0M | $30.9M | ||
| Q2 24 | $123.8M | $32.3M | ||
| Q1 24 | $142.9M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $138.8M | ||
| Q4 24 | — | $142.1M | ||
| Q3 24 | $2.2M | $197.4M | ||
| Q2 24 | $2.1M | $210.3M | ||
| Q1 24 | — | $188.8M |
| Q4 25 | $249.7M | — | ||
| Q3 25 | $256.2M | — | ||
| Q2 25 | $264.5M | — | ||
| Q1 25 | $265.9M | — | ||
| Q4 24 | $267.4M | — | ||
| Q3 24 | $275.8M | — | ||
| Q2 24 | $274.6M | — | ||
| Q1 24 | $279.2M | — |
| Q4 25 | $268.1M | — | ||
| Q3 25 | $306.2M | — | ||
| Q2 25 | $314.7M | — | ||
| Q1 25 | $310.9M | $772.5M | ||
| Q4 24 | $303.2M | $772.9M | ||
| Q3 24 | $315.3M | $772.9M | ||
| Q2 24 | $318.1M | $789.6M | ||
| Q1 24 | $315.4M | $772.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| 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 | $34.4M |
| Free Cash FlowOCF − Capex | $-2.4M | — |
| FCF MarginFCF / Revenue | -7.1% | — |
| Capex IntensityCapex / Revenue | 2.9% | — |
| Cash ConversionOCF / Net Profit | — | 0.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $7.9M | — | ||
| Q1 25 | $3.0M | $34.4M | ||
| Q4 24 | $7.2M | $66.2M | ||
| Q3 24 | $22.2M | $54.1M | ||
| Q2 24 | $4.0M | $56.6M | ||
| Q1 24 | $-5.7M | $71.5M |
| Q4 25 | $-2.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $7.5M | — | ||
| Q1 25 | $654.0K | — | ||
| Q4 24 | $5.1M | — | ||
| Q3 24 | $18.2M | — | ||
| Q2 24 | $2.8M | — | ||
| Q1 24 | $-7.7M | — |
| Q4 25 | -7.1% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 15.1% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 323.0% | — | ||
| Q2 24 | 5.8% | — | ||
| Q1 24 | -20.8% | — |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 7.0% | 0.0% | ||
| Q3 24 | 71.4% | 0.0% | ||
| Q2 24 | 2.5% | 0.0% | ||
| Q1 24 | 5.3% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.93× | — | ||
| Q1 25 | 2.30× | 0.86× | ||
| Q4 24 | — | 1.55× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | — | 1.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLFD
Segment breakdown not available.
NRP
| Coal Royalty Revenues | $35.5M | 69% |
| Soda Ash Segment | $4.6M | 9% |
| Transportation And Processing Services | $4.4M | 9% |
| Production Lease Minimum Revenues | $2.7M | 5% |
| Oil And Gas Royalty Revenues | $2.4M | 5% |
| Other | $1.6M | 3% |
