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Side-by-side financial comparison of Clearfield, Inc. (CLFD) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
Waterstone Financial, Inc. is the larger business by last-quarter revenue ($37.2M vs $34.3M, roughly 1.1× Clearfield, Inc.). On growth, Waterstone Financial, Inc. posted the faster year-over-year revenue change (16.7% vs -3.2%). Waterstone Financial, Inc. produced more free cash flow last quarter ($23.0M vs $-2.4M). Over the past eight quarters, Waterstone Financial, Inc.'s revenue compounded faster (7.1% CAGR vs -3.5%).
Clearfield, Inc. is a company headquartered in Minneapolis, Minnesota. The company produces fiber optic products.
Waterstone Financial, Inc. is a U.S. bank holding company headquartered in Wisconsin. It offers retail and commercial banking services, residential mortgages, and wealth management solutions, primarily serving consumers and small to medium-sized businesses across the U.S. Midwest region.
CLFD vs WSBF — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.3M | $37.2M |
| Net Profit | $-614.0K | — |
| Gross Margin | 33.2% | — |
| Operating Margin | -5.3% | 27.0% |
| Net Margin | -1.8% | — |
| Revenue YoY | -3.2% | 16.7% |
| Net Profit YoY | 67.8% | — |
| EPS (diluted) | $-0.04 | $0.43 |
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 | $37.2M | ||
| Q3 25 | $23.4M | $37.0M | ||
| Q2 25 | $49.9M | $38.0M | ||
| Q1 25 | $47.2M | $29.7M | ||
| Q4 24 | $29.7M | $31.8M | ||
| Q3 24 | $5.6M | $34.1M | ||
| Q2 24 | $48.8M | $37.2M | ||
| Q1 24 | $36.9M | $32.4M |
| Q4 25 | $-614.0K | — | ||
| Q3 25 | $-9.1M | $7.9M | ||
| Q2 25 | $1.6M | $7.7M | ||
| Q1 25 | $1.3M | $3.0M | ||
| Q4 24 | $-1.9M | — | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | $-447.0K | $5.7M | ||
| Q1 24 | $-5.9M | $3.0M |
| 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% | 27.0% | ||
| Q3 25 | 10.3% | 26.6% | ||
| Q2 25 | 3.0% | 25.4% | ||
| Q1 25 | 0.6% | 13.1% | ||
| Q4 24 | -6.9% | 19.5% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | -4.7% | 19.2% | ||
| Q1 24 | -26.4% | 14.7% |
| Q4 25 | -1.8% | — | ||
| Q3 25 | -38.8% | 21.4% | ||
| Q2 25 | 3.2% | 20.3% | ||
| Q1 25 | 2.8% | 10.2% | ||
| Q4 24 | -6.4% | — | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | -0.9% | 15.4% | ||
| Q1 24 | -16.0% | 9.4% |
| Q4 25 | $-0.04 | $0.43 | ||
| Q3 25 | $-0.65 | $0.45 | ||
| Q2 25 | $0.11 | $0.43 | ||
| Q1 25 | $0.09 | $0.17 | ||
| Q4 24 | $-0.13 | $0.28 | ||
| Q3 24 | — | $0.26 | ||
| Q2 24 | $-0.04 | $0.31 | ||
| Q1 24 | $-0.40 | $0.16 |
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 | — |
| Total DebtLower is stronger | — | $412.3M |
| Stockholders' EquityBook value | $249.7M | $349.4M |
| Total Assets | $268.1M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $96.4M | — | ||
| Q3 25 | $106.0M | — | ||
| Q2 25 | $117.2M | — | ||
| Q1 25 | $112.0M | — | ||
| Q4 24 | $113.0M | — | ||
| Q3 24 | $129.0M | — | ||
| Q2 24 | $123.8M | — | ||
| Q1 24 | $142.9M | — |
| Q4 25 | — | $412.3M | ||
| Q3 25 | — | $469.1M | ||
| Q2 25 | — | $465.7M | ||
| Q1 25 | — | $395.9M | ||
| Q4 24 | — | $446.5M | ||
| Q3 24 | $2.2M | $560.1M | ||
| Q2 24 | $2.1M | $660.8M | ||
| Q1 24 | — | $634.2M |
| Q4 25 | $249.7M | $349.4M | ||
| Q3 25 | $256.2M | $345.5M | ||
| Q2 25 | $264.5M | $341.5M | ||
| Q1 25 | $265.9M | $341.4M | ||
| Q4 24 | $267.4M | $339.1M | ||
| Q3 24 | $275.8M | $342.0M | ||
| Q2 24 | $274.6M | $334.9M | ||
| Q1 24 | $279.2M | $338.0M |
| Q4 25 | $268.1M | $2.3B | ||
| Q3 25 | $306.2M | $2.3B | ||
| Q2 25 | $314.7M | $2.3B | ||
| Q1 25 | $310.9M | $2.2B | ||
| Q4 24 | $303.2M | $2.2B | ||
| Q3 24 | $315.3M | $2.2B | ||
| Q2 24 | $318.1M | $2.3B | ||
| Q1 24 | $315.4M | $2.2B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | 0.01× | 1.64× | ||
| Q2 24 | 0.01× | 1.97× | ||
| Q1 24 | — | 1.88× |
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 | $24.2M |
| Free Cash FlowOCF − Capex | $-2.4M | $23.0M |
| FCF MarginFCF / Revenue | -7.1% | 61.9% |
| Capex IntensityCapex / Revenue | 2.9% | 3.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.4M | $24.2M | ||
| Q3 25 | — | $32.7M | ||
| Q2 25 | $7.9M | $-38.4M | ||
| Q1 25 | $3.0M | $26.7M | ||
| Q4 24 | $7.2M | $48.1M | ||
| Q3 24 | $22.2M | $74.1M | ||
| Q2 24 | $4.0M | $-39.5M | ||
| Q1 24 | $-5.7M | $-9.9M |
| Q4 25 | $-2.4M | $23.0M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | $7.5M | $-38.5M | ||
| Q1 25 | $654.0K | $26.5M | ||
| Q4 24 | $5.1M | $47.0M | ||
| Q3 24 | $18.2M | $73.9M | ||
| Q2 24 | $2.8M | $-39.7M | ||
| Q1 24 | $-7.7M | $-10.3M |
| Q4 25 | -7.1% | 61.9% | ||
| Q3 25 | — | 87.5% | ||
| Q2 25 | 15.1% | -101.2% | ||
| Q1 25 | 1.4% | 89.2% | ||
| Q4 24 | 17.1% | 147.5% | ||
| Q3 24 | 323.0% | 216.9% | ||
| Q2 24 | 5.8% | -106.7% | ||
| Q1 24 | -20.8% | -31.9% |
| Q4 25 | 2.9% | 3.1% | ||
| Q3 25 | 2.0% | 0.8% | ||
| Q2 25 | 0.8% | 0.2% | ||
| Q1 25 | 5.1% | 0.9% | ||
| Q4 24 | 7.0% | 3.5% | ||
| Q3 24 | 71.4% | 0.6% | ||
| Q2 24 | 2.5% | 0.4% | ||
| Q1 24 | 5.3% | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | 4.93× | -4.98× | ||
| Q1 25 | 2.30× | 8.81× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.67× | ||
| Q2 24 | — | -6.92× | ||
| Q1 24 | — | -3.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
