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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and Americas Gold & Silver Corp (USAS). Click either name above to swap in a different company.

Clearfield, Inc. is the larger business by last-quarter revenue ($34.3M vs $19.1M, roughly 1.8× Americas Gold & Silver Corp). Clearfield, Inc. runs the higher net margin — -1.8% vs -82.3%, a 80.5% gap on every dollar of revenue. On growth, Clearfield, Inc. posted the faster year-over-year revenue change (-3.2% vs -28.0%). Clearfield, Inc. produced more free cash flow last quarter ($-2.4M vs $-41.3M).

Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.

Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.

CLFD vs USAS — Head-to-Head

Bigger by revenue
CLFD
CLFD
1.8× larger
CLFD
$34.3M
$19.1M
USAS
Growing faster (revenue YoY)
CLFD
CLFD
+24.8% gap
CLFD
-3.2%
-28.0%
USAS
Higher net margin
CLFD
CLFD
80.5% more per $
CLFD
-1.8%
-82.3%
USAS
More free cash flow
CLFD
CLFD
$38.9M more FCF
CLFD
$-2.4M
$-41.3M
USAS

Income Statement — Q1 FY2026 vs Q3 FY2025

Metric
CLFD
CLFD
USAS
USAS
Revenue
$34.3M
$19.1M
Net Profit
$-614.0K
$-15.7M
Gross Margin
33.2%
34.2%
Operating Margin
-5.3%
Net Margin
-1.8%
-82.3%
Revenue YoY
-3.2%
-28.0%
Net Profit YoY
67.8%
2.8%
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.

Revenue
CLFD
CLFD
USAS
USAS
Q4 25
$34.3M
Q3 25
$23.4M
$19.1M
Q2 25
$49.9M
Q1 25
$47.2M
Q4 24
$29.7M
Q3 24
$5.6M
$26.5M
Q2 24
$48.8M
Q1 24
$36.9M
Net Profit
CLFD
CLFD
USAS
USAS
Q4 25
$-614.0K
Q3 25
$-9.1M
$-15.7M
Q2 25
$1.6M
Q1 25
$1.3M
Q4 24
$-1.9M
Q3 24
$-16.2M
Q2 24
$-447.0K
Q1 24
$-5.9M
Gross Margin
CLFD
CLFD
USAS
USAS
Q4 25
33.2%
Q3 25
53.2%
34.2%
Q2 25
30.5%
Q1 25
30.1%
Q4 24
29.2%
Q3 24
23.6%
Q2 24
21.9%
Q1 24
7.7%
Operating Margin
CLFD
CLFD
USAS
USAS
Q4 25
-5.3%
Q3 25
10.3%
Q2 25
3.0%
Q1 25
0.6%
Q4 24
-6.9%
Q3 24
Q2 24
-4.7%
Q1 24
-26.4%
Net Margin
CLFD
CLFD
USAS
USAS
Q4 25
-1.8%
Q3 25
-38.8%
-82.3%
Q2 25
3.2%
Q1 25
2.8%
Q4 24
-6.4%
Q3 24
-60.9%
Q2 24
-0.9%
Q1 24
-16.0%
EPS (diluted)
CLFD
CLFD
USAS
USAS
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
CLFD
CLFD
USAS
USAS
Cash + ST InvestmentsLiquidity on hand
$96.4M
$39.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$249.7M
$50.2M
Total Assets
$268.1M
$234.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CLFD
CLFD
USAS
USAS
Q4 25
$96.4M
Q3 25
$106.0M
$39.1M
Q2 25
$117.2M
Q1 25
$112.0M
Q4 24
$113.0M
Q3 24
$129.0M
Q2 24
$123.8M
Q1 24
$142.9M
Total Debt
CLFD
CLFD
USAS
USAS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$2.2M
Q2 24
$2.1M
Q1 24
Stockholders' Equity
CLFD
CLFD
USAS
USAS
Q4 25
$249.7M
Q3 25
$256.2M
$50.2M
Q2 25
$264.5M
Q1 25
$265.9M
Q4 24
$267.4M
Q3 24
$275.8M
$53.1M
Q2 24
$274.6M
Q1 24
$279.2M
Total Assets
CLFD
CLFD
USAS
USAS
Q4 25
$268.1M
Q3 25
$306.2M
$234.7M
Q2 25
$314.7M
Q1 25
$310.9M
Q4 24
$303.2M
Q3 24
$315.3M
Q2 24
$318.1M
Q1 24
$315.4M
Debt / Equity
CLFD
CLFD
USAS
USAS
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
CLFD
CLFD
USAS
USAS
Operating Cash FlowLast quarter
$-1.4M
$-12.5M
Free Cash FlowOCF − Capex
$-2.4M
$-41.3M
FCF MarginFCF / Revenue
-7.1%
-216.5%
Capex IntensityCapex / Revenue
2.9%
150.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLFD
CLFD
USAS
USAS
Q4 25
$-1.4M
Q3 25
$-12.5M
Q2 25
$7.9M
Q1 25
$3.0M
Q4 24
$7.2M
Q3 24
$22.2M
$2.4M
Q2 24
$4.0M
Q1 24
$-5.7M
Free Cash Flow
CLFD
CLFD
USAS
USAS
Q4 25
$-2.4M
Q3 25
$-41.3M
Q2 25
$7.5M
Q1 25
$654.0K
Q4 24
$5.1M
Q3 24
$18.2M
$-11.2M
Q2 24
$2.8M
Q1 24
$-7.7M
FCF Margin
CLFD
CLFD
USAS
USAS
Q4 25
-7.1%
Q3 25
-216.5%
Q2 25
15.1%
Q1 25
1.4%
Q4 24
17.1%
Q3 24
323.0%
-42.2%
Q2 24
5.8%
Q1 24
-20.8%
Capex Intensity
CLFD
CLFD
USAS
USAS
Q4 25
2.9%
Q3 25
2.0%
150.8%
Q2 25
0.8%
Q1 25
5.1%
Q4 24
7.0%
Q3 24
71.4%
51.2%
Q2 24
2.5%
Q1 24
5.3%
Cash Conversion
CLFD
CLFD
USAS
USAS
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.

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