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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and NORTECH SYSTEMS INC (NSYS). Click either name above to swap in a different company.
Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $30.3M, roughly 1.1× NORTECH SYSTEMS INC). NORTECH SYSTEMS INC runs the higher net margin — 3.0% vs -1.8%, a 4.7% gap on every dollar of revenue. On growth, NORTECH SYSTEMS INC posted the faster year-over-year revenue change (5.9% vs -3.2%). NORTECH SYSTEMS INC produced more free cash flow last quarter ($5.5M vs $-2.4M). Over the past eight quarters, Clearfield, Inc.'s revenue compounded faster (-3.5% CAGR vs -5.9%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
Nortech Systems Inc is a global electronics manufacturing services provider. It delivers end-to-end solutions covering product design, prototyping, full-scale production, and supply chain management for clients operating in medical technology, industrial automation, aerospace and defense, and transportation sectors. It specializes in high-reliability, regulatory-compliant electronic components and assemblies tailored to strict industry standards.
CLFD vs NSYS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $30.3M |
| Net Profit | $-614.0K | $897.0K |
| Gross Margin | 33.2% | 16.7% |
| Operating Margin | -5.3% | 3.0% |
| Net Margin | -1.8% | 3.0% |
| Revenue YoY | -3.2% | 5.9% |
| Net Profit YoY | 67.8% | 160.7% |
| EPS (diluted) | $-0.04 | $0.32 |
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 | $30.3M | ||
| Q3 25 | $23.4M | $30.5M | ||
| Q2 25 | $49.9M | $30.7M | ||
| Q1 25 | $47.2M | $26.9M | ||
| Q4 24 | $29.7M | $28.6M | ||
| Q3 24 | $5.6M | $31.4M | ||
| Q2 24 | $48.8M | $33.9M | ||
| Q1 24 | $36.9M | $34.2M |
| Q4 25 | $-614.0K | $897.0K | ||
| Q3 25 | $-9.1M | $-146.0K | ||
| Q2 25 | $1.6M | $313.0K | ||
| Q1 25 | $1.3M | $-1.3M | ||
| Q4 24 | $-1.9M | $-1.5M | ||
| Q3 24 | — | $-739.0K | ||
| Q2 24 | $-447.0K | $157.0K | ||
| Q1 24 | $-5.9M | $765.0K |
| Q4 25 | 33.2% | 16.7% | ||
| Q3 25 | 53.2% | 16.5% | ||
| Q2 25 | 30.5% | 15.8% | ||
| Q1 25 | 30.1% | 11.4% | ||
| Q4 24 | 29.2% | 9.9% | ||
| Q3 24 | — | 12.2% | ||
| Q2 24 | 21.9% | 13.6% | ||
| Q1 24 | 7.7% | 15.9% |
| Q4 25 | -5.3% | 3.0% | ||
| Q3 25 | 10.3% | 3.1% | ||
| Q2 25 | 3.0% | 2.4% | ||
| Q1 25 | 0.6% | -6.0% | ||
| Q4 24 | -6.9% | -4.3% | ||
| Q3 24 | — | -1.5% | ||
| Q2 24 | -4.7% | 1.0% | ||
| Q1 24 | -26.4% | 3.4% |
| Q4 25 | -1.8% | 3.0% | ||
| Q3 25 | -38.8% | -0.5% | ||
| Q2 25 | 3.2% | 1.0% | ||
| Q1 25 | 2.8% | -4.9% | ||
| Q4 24 | -6.4% | -5.2% | ||
| Q3 24 | — | -2.4% | ||
| Q2 24 | -0.9% | 0.5% | ||
| Q1 24 | -16.0% | 2.2% |
| Q4 25 | $-0.04 | $0.32 | ||
| Q3 25 | $-0.65 | $-0.05 | ||
| Q2 25 | $0.11 | $0.12 | ||
| Q1 25 | $0.09 | $-0.48 | ||
| Q4 24 | $-0.13 | $-0.51 | ||
| Q3 24 | — | $-0.27 | ||
| Q2 24 | $-0.04 | $0.05 | ||
| Q1 24 | $-0.40 | $0.26 |
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 | $1.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $249.7M | $34.5M |
| Total Assets | $268.1M | $71.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | $1.7M | ||
| Q3 25 | $106.0M | $1.3M | ||
| Q2 25 | $117.2M | $652.0K | ||
| Q1 25 | $112.0M | $1.2M | ||
| Q4 24 | $113.0M | $916.0K | ||
| Q3 24 | $129.0M | $1.2M | ||
| Q2 24 | $123.8M | $1.5M | ||
| Q1 24 | $142.9M | $4.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $2.2M | — | ||
| Q2 24 | $2.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | $249.7M | $34.5M | ||
| Q3 25 | $256.2M | $33.4M | ||
| Q2 25 | $264.5M | $33.4M | ||
| Q1 25 | $265.9M | $32.8M | ||
| Q4 24 | $267.4M | $34.0M | ||
| Q3 24 | $275.8M | $35.7M | ||
| Q2 24 | $274.6M | $36.1M | ||
| Q1 24 | $279.2M | $36.0M |
| Q4 25 | $268.1M | $71.9M | ||
| Q3 25 | $306.2M | $74.8M | ||
| Q2 25 | $314.7M | $74.8M | ||
| Q1 25 | $310.9M | $73.5M | ||
| Q4 24 | $303.2M | $72.4M | ||
| Q3 24 | $315.3M | $77.0M | ||
| Q2 24 | $318.1M | $76.3M | ||
| Q1 24 | $315.4M | $75.5M |
| 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 | $5.6M |
| Free Cash FlowOCF − Capex | $-2.4M | $5.5M |
| FCF MarginFCF / Revenue | -7.1% | 18.0% |
| Capex IntensityCapex / Revenue | 2.9% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 6.25× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $5.6M | ||
| Q3 25 | — | $-92.0K | ||
| Q2 25 | $7.9M | $157.0K | ||
| Q1 25 | $3.0M | $-2.9M | ||
| Q4 24 | $7.2M | $793.0K | ||
| Q3 24 | $22.2M | $-1.6M | ||
| Q2 24 | $4.0M | $-4.3M | ||
| Q1 24 | $-5.7M | $2.8M |
| Q4 25 | $-2.4M | $5.5M | ||
| Q3 25 | — | $-242.0K | ||
| Q2 25 | $7.5M | $58.0K | ||
| Q1 25 | $654.0K | $-3.2M | ||
| Q4 24 | $5.1M | $503.0K | ||
| Q3 24 | $18.2M | $-1.6M | ||
| Q2 24 | $2.8M | $-4.6M | ||
| Q1 24 | $-7.7M | $2.1M |
| Q4 25 | -7.1% | 18.0% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | 15.1% | 0.2% | ||
| Q1 25 | 1.4% | -11.9% | ||
| Q4 24 | 17.1% | 1.8% | ||
| Q3 24 | 323.0% | -5.2% | ||
| Q2 24 | 5.8% | -13.5% | ||
| Q1 24 | -20.8% | 6.1% |
| Q4 25 | 2.9% | 0.5% | ||
| Q3 25 | 2.0% | 0.5% | ||
| Q2 25 | 0.8% | 0.3% | ||
| Q1 25 | 5.1% | 1.0% | ||
| Q4 24 | 7.0% | 1.0% | ||
| Q3 24 | 71.4% | 0.1% | ||
| Q2 24 | 2.5% | 0.8% | ||
| Q1 24 | 5.3% | 2.2% |
| Q4 25 | — | 6.25× | ||
| Q3 25 | — | — | ||
| Q2 25 | 4.93× | 0.50× | ||
| Q1 25 | 2.30× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -27.30× | ||
| Q1 24 | — | 3.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLFD
Segment breakdown not available.
NSYS
| Medical Imaging | $11.4M | 37% |
| Medical Device | $8.0M | 26% |
| Industrial | $7.3M | 24% |
| Aerospace And Defense | $3.7M | 12% |
